UG, A&G 8/19/1863

Office Atlantic & Gulf R. R. Co.
Savannah, August 19th 1863
To His Excellency
Governor Jos. E. Brown
   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
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
July 31st 1863
D Macdonald
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}
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