| Office Atlantic & Gulf R. R. Co. |
| Savannah, August 19th 1863 |
| |
| To His Excellency |
| Governor Jos. E. Brown |
| |
| Sir, |
| I have the honor to transmit
to you the Eleventh Semi Annual Statement of the pecuniary affairs of
the Atlantic & Gulf Railroad Company. |
| The consolidation of the
stocks of this and of the Savannah, Albany & Gulf R. R. Company
was consummated on the First of July last. The enclosed statement is
therefore the first submitted to the Executive since the union of the
two companies, and is simply a combined balance sheet of their coa??
and financial condition. |
| Under the charter authorizing
the consolidation, the union of the two companies cannot affect the
former mutual relations between the state and the company. The return
of the semi annual statement and of the list of stockholders is as
obligatory as before. Up to the 1st inst. the list of stockholders of
each of the old companies was kept separate and distinct, so that your
Excellency will find in the enclosed a correct list of the
stockholders of the Atlantic & Gulf R. R. Company at that date. As
a matter of record, and to prevent any further misunderstanding, I
also send a separate and distinct list of the stockholders of the
Savannah, Albany & Gulf R. R. Company. The two lists should
properly be combined, but this return after the consolidation, I have
thought that your Excellency would perhaps prefer to have them
separate for this occasion, and combing only in a final statement of
the aggregate number of stockholders and the amount of those.
Thereafter other lists must of ??? be provided and ???. As the stock
list of the Savannah, Albany & Gulf R. R. Co. has been long since
closed, there can be no difficulty in ascertaining at any time, the
capital stock of the Albany & Gulf R. R. Co. and the pro rata of
the others. |
| I beg leave to report to your
Excellency that the operations of the new company have been
quite as successful as could be expected. The consolidation has
greatly tended to facilitate business and to promote the confidence of
the public in the immediate value and in the future prospects of the
company. We suffer, however, and must continue to do so during the
war, from circumstances peculiar to itself. I mean its liability to
incursions of the enemy, and from the ??? stoppage of commerce in the
beginning of 1861 preventing us obtaining a supply of motive power
adequate to a road of such great length. Two Locomotives were the only
additions to our motive power since January, 1861, (one engine then
running is since condemned) and we are now actually operating 200
miles of railway with nine (9) engines. The whole number in our
possession is Twelve (12), or, one (1) engine to thirty miles, while
the Central {(of Georgia)} R. R. has 1
engine to every 3.37 miles. But it is a source of some gratification,
if I may be permitted the expression, to know that our engines make
nearly double the earnings of those on the Central R. R. This
insufficiency of motive power has been productive of much
inconvenience and annoyance and has subjected the company to large
losses of earnings, altho our engines have & now all average each
of about 19000 miles the past year. On the Central R. R. the
average miles per engine is about 11000, on the Macon & Western
about 12000 miles. Our engines have thus done nearly double service
and our trains always thoroughly busy. Still we have been unable to
keep our warehouses clear, and we have been constantly compelled to
refuse as much, if not more, transportation than we have performed. My
impression is that we could give profitable employment to 30 engines.
I have some expectation of obtaining some additional motive power and
rolling stock from the Mobile & Ohio and Charleston & Savannah
R. Rds. by which the business of the Road may be considerably
facilitated. |
| The gross monthly income of
the company since April last is about $60,000, nearly one half of
which is consumed in current and incidental expenses, daily swelling
with the inflation of values, but rates of transportation have been
increased 100 per centum, and rates of passage 33 1/3 per centum since
October last. |
| I trust that this brief
statement may not be una?? to your Excellency, and that you will be
encouraged to think that the affairs of the new company are prosperous
and promise an ample return for the liberality of the State. |
| I remain, ????? |
| Yr. obt. Servant |
| Thomas Screven |
| President |
| |
| Eleventh Semi-annual Statement of the
pecuniary affairs of the Atlantic & Gulf Rail Road Company
rendered to His Excellency Joseph E. Brown Governor of the State of
Georgia in accordance with the 7th section of the Act of Incorporation
of said Company, July 31st 1863 |
| Augusta & Sav R R Stock |
700 |
00 |
| Bonds of the State of Ga |
73.000 |
00 |
| Branch to Lamars Canal |
3525 |
00 |
| Confederate States |
46,880 |
35 |
| Confederate 8 % Bonds |
11,300 |
00 |
| Construction Account |
3,133,096 |
54 |
| Current & Incidental Expenses |
19,186 |
80 |
| Connecting line to CRR |
4,5677 |
47 |
| Florida Branch |
75,726 |
28 |
| Goods Lost & damaged |
2,908 |
83 |
| Improvements at Savannah |
52,498 |
72 |
| Interest on Bonds |
13,632 |
14 |
| MacIntyre & Potter Agts |
3,759 |
05 |
| Machine Shop at Thomasville |
15,000 |
00 |
| Maintenance of Cars |
19,805 |
53 |
| Maintenance of Motive Power |
20,981 |
02 |
| Printing & Stationery |
1,390 |
93 |
| Repairs of Bridges |
10,860 |
71 |
| Repairs of Road |
13,772 |
14 |
| Retired Stock |
200,100 |
00 |
| Right of Way |
97,624 |
76 |
| Rolling Stock |
222,703 |
52 |
| Real Estate |
2,283 |
33 |
| Salary Account |
3,311 |
10 |
| Savannah Depot |
63,667 |
95 |
| Stock Killed |
1,913 |
00 |
| L M Hamilton Agt |
66,577 |
54 |
| Cash |
99,067 |
53 |
|
$4,279,548 |
24 |
|
|
|
| Capital Stock |
3,025,980 |
00 |
| Companys Bonds |
841,200 |
00 |
| Freight Account |
115,648 |
45 |
| Guaranteed 7% Stock |
76,400 |
00 |
| Interest a/c |
2,310 |
73 |
| D Macdonald |
120 |
00 |
| Mail Service |
10,203 |
68 |
| Passage a/c |
36,192 |
79 |
| Profit & Loss |
147,448 |
90 |
| John Screven |
434 |
19 |
| Suspense a/c |
3,604 |
50 |
|
$4,279,548 |
24 |
|
| Savannah |
| July 31st 1863 |
| D Macdonald |
| Treasurer |
| |
| List of Subscribers to the Stock of the
Atlantic & Gulf Rail Road, Showing the number of Shares Subscribed
and the Amount paid in by each to 1st August 1863 |
| {Twelve page long
list, not transcribed} |
| List of Stockholders in the Savannah,
Albany & Gulf Rail Road Company now consolidated with the Atlantic
& Gulf R R Co |
| {Six page long,
double column, list, not transcribed} |
| Recapitulation |
| Stock of Atlantic & Gulf R R Co |
$1,654,680 |
| 13713 shares S A & G R R Co @ 100 |
1,371,300 |
| Total Capital Stock |
$3,025,980 |
|
|