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PROCEEDINGS 



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OF THE 



STOCKHOLDERS 



OF THE 



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AT THEIR 



T\\'ENTY-riRST ANNUAL ^lEETlNG, 



HELD AT 



Raleigh, July 2oth, 1871, 



Also, the Innual Reports of the President, Superintendent, Treasurer, h 



RALEIGH: 

NICHOLS & GORMAN, BOOK AND JOB PRINTERS. 
1871. 



DIRECTORS AND OFFICERS. 



D IRECTORS. 

WM, J. HAWKINS, A. M. McPHEETEES, 

S. S. EOYSTEE, GEOEGE LITTLE, 

J. B. BATOHELOE, WALTEE CLAEK, 

PAUL 0. OAMEEON. 



OFFICERS. 

WM. J. HAWKINS, Pkesident. 
A.'B. ANDEEWS, Superintendent. 
W. W. VASS, Teeasuker. 



COMMITTEE OF FINANCE & INSPECTION. 

T. B. TENABLE, Hon. D. M. BAEEINGEE, 
E. S. TUOKEE. 



FHOOEEDINaS. 



Hall of the Ealeigh & Gastox E. E. Co., 
Baleigh, K C, July 20th, 1871. 

The twenty-lirst annual meeting of the Stockholders of 
the Ealeigh and Gaston Eail Eoad Company, was held in 
the Hall of the Company, at eleven o'clock, A. M. 

On motion of Dr. W. J. Hawkins, President of the 
Eoad, Hon. B. F. Moore, of Ealeigh, was called to the 
Chair, and Joseph J. Davis and W. W. Vass appointed 
Secretaries. 

A. M. McPheeters, Esq., from the Standing Committee 
on Proxies, &c., reported that there were represented in 
the meeting in person, seventeen hundred and fourteen 
shares, and by proxy, twelve thousand three hundred and 
twenty-eight shares ; total representation of stock, fourteen 
thousand and forty-two shares, being a large majority of 
the capital stock of the Company. 

The Chairman, having declared the meeting to be duly 
organized, 

On motion of Fred. E. Scott, Ets«[., of Petersburg, the 
reading of the annual report of the President and Board of 
Directors was dispensed with, as the same was printed, 
and in the hands of the Stockholders. 

Maj. T. B. Yenable, of the Committee of Finance and 
Inspection, submitted their report, which was read and 
accepted. 

By Hon. W. H. Battle : 

Besohed, Tliat the Stockholders of the Raleigh and Gaston Railroad 
Comjiany, avail themselves of the opportunity afforded them by their 
first meeting since the death of the late George W. Mordecai, to ex- 
press their sincere sorrow at his death, and their cordial concurrence 
in the preamble and resolutions adopted by the Directors of this Com- 



pany at their meeting on the eleventh day of April, 1871. And in 
evidence of their high appreciation of his warm and unfailing devo- 
tion to the true interest of this corporation as an instrument of the 
public prosperity of the State, they direct that said preamble and reso- 
lutions, together with this resolution, be spread upon the minutes of 
this meeting. 

Besolved, That a copy of this resolution, and the said preamble and 
resolution, be sent to the family of the deceased, and the same be pub- 
lished in the papers of the city. 

The foregoing resolutions were seconded by Joseph J. 
Davis, Esq., of FrankUn Conutj^, and unanimously adopt- 
ed by the meeting. 

Col. Tucker, of Ealeigh, offered a resolution, instruct- 
ing the Board of Directors to build warehouses at Huuts- 
ville and Pacific and other points on the line. Ameud- 
meuts were offered by Messrs. Scott and Plummer, and on 
motion of E. H. Kingsbury, Esq., the whole matter was 
laid upon the table, when 

Joseph J. Davis, Esq., offered the following which was 
adopted : 

Besolved, That it is the sense of this meeting, that the Board of Di- 
rectors have the power to establish new depots at such points as in 
their judgment may be necessary. 

Mr. Davis offered a resolution, expressive of the sense of 
the meeting, that the President of the Eoad ought to be 
elected by a direct vote of the Stockholders. Eejected. 

By E. H. Plummer, Esq., of Warrenton: 

Revolted, That the salaries paid to the President, Superintendent,, 
and Treasurer and Secretary of this Road — together with the Chatham* 
Railroad, in which the road has a controlling interest, amountmg in 
the case of the President to the sum of eight thousand dollars, of the 
Superintendent to thirty-three hundred dollars, and of the Treasurer 
and Secretary to four thousand dollars, are, in the present depressed' 
condition of the country, exorbitantly high and ought to be greatly re- 
duced. 

The following by E H. Kingsbury, Esq., of Oxford, was 
offered as an addition to Mr. Plummer's resolution and ac- 
cepted by him : 

Hewloed, That the person representing the stock of the Raleigh and 
Gaston Railroad Company in the meeting of the Stockholders of the 



Chatham Railroad Company, be instructed to reduce the salary of the 
President of the Chatham Railroad to two thousand dollars, and the 
salary of the Treasurer to one thousand dollars, and the salary of the 
Superintendent of said road to five Hundred dollars, in case the officers 
are filled by the same persons holding similar offices in the Raleigh and 
Oaston Railroad Company. 

The foregoing resolutions were discussed by Messrs. 
Plummer, Hawkins, Batclielor, E. H. Battle, Jr., and 
Davis, and by Col. AVm. Lamb and Maj. Geo. W. Grice, 
of Norfolk, Ya. 

On motion, the meeting took a recess of one hour. 

Upon the re-assembling of the meeting, B. F. Moore, in 
the Chair, the consideration of Mr. Plummer's resolution 
was resumed, and the discussion continued by Gen. Cox, 
Col. Lamb, and Mr. Cameron. 

A division of the question being called for by Mr. Cam- 
eron, and the vote taken upon the proposition of Mr. 
Plummer, it was adopted. 

Gen. Cox moved to lay the second proposition (Mr. 
Kingsbury's resolution) on the table, which prevailed. 

The following resolutions were ofifered and adopted : 

By Gen. Cox: 

That the question as to whether an amendment of the charter of the 
Raleigli and Gaston Railroad Company, changing the method of elect- 
ing the President, would transfer the control of our charter to the 
General Assembly, be referred to a committee consisting of Hons. B. F. 
Moore, W. H. Battle, and Joseph J.Davis, Esq., who are requested to 
report to the next meeting of the Stockholders of the Company. 

By Joseph J. Davis, Esq. : 

Resolved, That the Directors of the Raleigh and Gaston Railroad 
Company be, and they are herel)y authorized, to represent either in 
person or by proxy, the stock of the said Company in the Chatham 
Railroad Company at all the meetings of the Stockholders of said Chat- 
ham Railroad Company. 

Resolved, That, hereafter, the report made to the Stockholders of the 
Chatham Railroad Company shall be laid before the Stockholders of the 
Raleigh and Gaston Railroad Company at their annual meeting, if the 
same shall have been already made. And, if the same shall not have 
been made in time to be presented to the Stockholders of the Raleigh 
and Gaston Railroad meeting, then it shall be the duty of the President 
to procure a written report, if practicable. 



6 

By P. C. Cameron, Esq. : 

Besolved, That, as citizens of Korth Carolina, and Stockholders in the 
Baleigh and Gaston Railroad Company, we will resist, by every honor- 
able means, the kase of the North Carolina Railroad Company to any 
parties or corporations out of the State, and that Hon. B. F. Moore^ 
Kemp P. Battle, Esq., and Dr. W. J. Hawkins, be appointed a com- 
mittee, to prevent such a Iwise by every legal means. 

On motion of Gen. Cox, the Stockholders proceeded to 
the election of Directors for ensuing year — A. M. Mc- 
Pheeters, Jos. B. Batchelgr, and W. VY. Vasa, being ap- 
pointed to act as tellers. 

Jos. B. Batchelor, Esq., on the part of tellers, reported 
that the tollowing named persons were duly elected as Di- 
rectors, viz: 

Dr. W. J. Hawkins, S. S. Eoyster, Joseph B. Batchelor, 
A. M. McPheeters, George Little, Walter Clark, and Paul 
C. Cameron. 

By J. J. Davis: 

Resohed, That the President and Directors of the Raleigh and Gas- 
ton Railroad Company are hereby directed to keep so much of the de- 
posits as can be spared for that purpose, upon interest, if they can do 
so, subject to payment on call: Provided, however, That, in no case 
shall this be required, if thereby the safety of the deposit shall be 
jeoparded. The annual report of the Treasurer shall show the amounts 
on deposit which have l>eeu put at interest, for what length of term, 
and the interest received. Adopted. 

By Hon. W. H. Battle: 

Hesohed, That the thanks of the Stockholders are due, and are here- 
by tendered to the Superintendent and other officers and employees of 
the Company, for the care and skill with which the trains have been 
run, whereby, under a kind Providence, there has been no loss of life 
or property on the road, during the year just passed. Adopted. 

By B. F. Harris, Esq., of Granville: 

Resolved, That the following shall be one of the By-Laws of the Ra- 
leigh and Gaston Railroad Comjiany: No officer of the Raleigh and 
Gaston Railroad Company, nor any person appointed a commissioner or 
agent thereof, shall become an undertake;- of, or make any contract for 
his own benefit, under any appointment by said Company to make a 
contract, or be in any manner concerned or interested in making such. 



oonfrraet, or ia the profits thereof, either privately or openly, singly or 
jointly -with another, in any case where the contract shall be made on 
behalf of said corporation, and by its authority. Adopted. 

By Yrod. E. Scott, Esq., of Petersburg: 

jResolted, That the Stockholders of the Raleigh and Gaston Railroad 
Company disapprove of the action of the Directors in organizing the 
Rail Road Immigration Association of North Carolina, and forbid such 
organization by the Company, unless one-half of the Companies named 
in the Act, shall join therein. Adopted. 

Cki motion of Col. Lamb, of Norfolk, Thos. B. Venable, 
Hon. I). M. Barringer, and Col. Kufus S. Tucker, were 
re-appointed on the Board of Finance and Inspection. 

On motion, the Chairman of the meeting appointed A, 
M. McPheeters, E. H. Battle, Jr., and W. W. Yass, on 
the Committee to verify proxies at the next annual meet- 
ing of the Company. 

On the motion of Maj. G. W. Grice, of Portsmoutk, the 
meeting adjourned sine die. 

B. F. MOOEP; Cliainnan. 



Jos. J. Davis, ) c* * • 
W. W. Vass, \ ^^'^'i^'^'^' 



PRESIDENT'S REPORT. 



Kaleigh & Gaston Eailkoad Compaxy, 
President's Office, 

Ealeigb, N. C, July 20th, 1871. 

To tlis Stocliliolders of the 

Balek/h & Gaston Railroad Company : 

The Board of Directors, through me, submit their 
twenty-first Annual Eeport, embracing the operations for 
the fiscal yenv terminating the 31st day of May. 
The receipts were : 

From Freights, . . _ - $2G1,714 45 

Passengers, _ _ - 79,366 06 

Mails, - - -. - - 7,312 48 



Total from transportation, - - $348,422 99 

Chowing a gain, as compared 

with the last fiscal year, in 

Freight, of - - - $40,656 43 

And a loss in Passengers, of - 4,116 77 



Total gain of - - $36,539 66 

The operating expenses were - - $204,277 39 



Leaving a balance over opera- 
ting expenses, of - - - - $144,145 60 
The Board of Directors, on the 8th day of June, declared 

a dividend of 6 per cent., which was paid on the 1st day 

of July. 

The operating expenses were less than 60 per. cent, of 

the receipts. It is proper here to state that your road 

being on one side of a triangle, is so situated as not to be 



able to command the business of connecting roads, or to 
dictate terms to those over which we receive and ship our 
freights. The Xorth Carohna Eailroad on one side, in a 
division of freights, demands a pro-rate on 223 miles, when 
the actual distance over which the service is rendered is 
only 175 miles ; this reduces }Our Eoad by this arbitrary 
rule of the North Carolina Eailroad to only 60 miles in 
length, they getting the advantage of 40 per cent., our 
real distance being 97 miles. This alone amounts to a 
large sum, but the difficulties do not terminate here. 
The Seaboard & Eoanoke Eailroad, 79 miles long, also 
claims a constructive length of 97 miles, and demands and 
receives a pro-rate on that basis. They also get 20 per 
cent advantage, w^hich gave them last year over forty 
thousand dollars. The Petersburg Eailroad, 02 miles in 
length, demands and receives a pro-rate on freights for a 
constructive length of 97 miles, giving them also the 
advantage of 30 per. cent. If the percentage received by 
connecting lines could have been retained as a part of 
your earnings, the gross receipts of your Eoad would 
have been over $400,000. The question may be asked, 
why do you permit them to take this advantage I Why 
do you pay it ? W^e can only say they command the sit- 
uation, and we are compelled to submit or see all of our 
business go via Goldsboro'. 

In comparing the expenses with the receipts, it should 
be borne in mind that your Eoad is reduced in length, 
first, by the I^orth Carolina Eailroad to GO miles, then by 
the Seaboard & Eoanoke Eailroad to 80 miles, and by 
the Petersburg Eailroad to 70 miles, that being the dis- 
tance from Weldon to City Point ; whilst the operating 
expenses appear large, near CO per cent., they are really 
low under the circumstances. 

You will perceive from the Auditor's Eeport that the 
total increase is Irom freights and from the K"orth Caro- 
lina Eailroad, except about one thousand dollars, that 
being the amount of increase at our local stations for the 



10 

last year. We cannot expect any material change in 
passengers until we have a better local travel, or until the 
Chatham Eailroad ean be extended south so as to tap one 
of the main through lines. 

The Richmond & Danville Railroad takes at Greens- 
boro' all the through travel, by paying the North Carolina 
Railroad a bonus for the same, nearly as much as if the 
passengers were delivered at Raleigh. If we can continue 
to hold the ISTorth Carolina Railroad, and the Charlotte, 
Columbia & Augusta Railroad, and the Seaboard & 
Roanoke Railroad as our friendly allies, as we have done 
for years past, as we hope to do with no new competing 
line extending into Charlotte, and with the business 
which we may expect from the Chatham Railroad, we may 
look for an annual increase of business. The Chatham 
Railroad is now lunning in connection with the AVestern 
Railroad daily to Fayetteville and the Coalfields, with 
through freight and passenger tariffs over your Road to 
all points North. W^hat we may expect from the coal of 
the Deep River region, no one can tell. Copper, iron and 
other minerals abound in that section, all easily tapped 
and accessible to the Chatham Railroad ; when fully 
worked your Road must receive the largest portion for 
transportation. 

Should the North Carolina Railroad or the Seaboard & 
Roanoke Railroad fall into hands unfriendly to your 
interests, we may expect a considerable diminution in 
your receipts. You must then look to the extension of 
the Chatham Railroad South, developing a new section of 
country, opening up a new field, from which you may 
expect a new and increasing business. The Seaboard & 
Roanoke Railroad and Petersburg Railroad being the 
recipients of your business, should willingly aid in making 
this extension. The Raleigh & Gaston Railroad, Sea- 
board & Roanoke Railroad and the Petersburg Railroad, 
by mortgages or endorsements, could easily extend the 
Chatham Railroad to Augusta, Ga. Crossing the Wil- 



11 

mington, Charlotte & Eutherford Eailroad near Wades- 
boro', the Charlotte, Columbia & Augusta Eailroad at or 
near Chester, and passing through the best portion of 
South Carolina, lea\iug Columbia to the east some forty 
miles. This would be the shortest and best line Souths 

The political diflSculties in the country have thrown a 
damper upon immigration for the present which we hope 
soon to see removed. TVe procured the passage of aa 
Act by the last Legislature, hereto appended, to which 
your attention is called. 

On the 24th day of May, 1871, a meeting of all the 
Railroads in Korth Carolina, or terminating in our State,, 
was called at Ealeigh, for the purpose of organizing the 
R. E. Association, as set forth in the Act. None re- 
sponded except the Ealeigh & Gaston Eailroad and the 
Chatham Eailroad. These Eailroads organized the asso- 
ciation and invited other Eoads to unite with them and 
participate in filling up our unoccupied and surplus lands 
with a population thrifty and desirable. So far not a Eoad 
has been heard from. Gen. D. M. Barringer was made the 
President of the Association, the Hon. Thomas Bragg the 
Attorney, and Messrs. Batchelor and Little Directors. No 
business has been done or attempted. The Act requires 
ratification by the Stockholders. 

By order of the Board of Directors, the small engine 
* ' Wake," and six flat cars and one baggage or box car were 
sold to the AVilliamston & Tarboro' Eailroad, for fourteen 
bonds of that Company of one thousand dollars each. This 
engine was too small for our use and we considered that 
we made a good sale. 

The property of the Company, of every description, is 
in better condition than this time last year. The bridges 
have been overhauled and the track has been vastly im- 
proved. The Tar Eiver bridge, in the hands of David 
Eenno, the contractor, is being pushed as rapidly towards 
completion as a work of that magnitude could be, with- 
out stopping the trains. A structure so tall and long 



12 

requires time and skill, and, I am glad to say, will be a 
masterpiece of work when completed, one in which the 
contractor may justly be proud. 

On the 21st of June a proposition was made by Major 
W. T. Sutherland, of Danville, to the Stockholders, to 
purchase 7,500 shares of your stock, which was submitted 
to each Stockholder by circular, and we take pleasure in 
saying that the proposition was unanimously rejected. 

Under a resolution of the Stockholders, passed at your 
last annual meeting, the Board ot Directors were in- 
structed to enquire into the expediency of rebuilding and 
estabhshiug new Depots on the line of the Eoad. The 
Board recommends, at the convenience of the Company, 
the rebuilding of the Depot at Huntsville, the building of 
a Depot at Pacific, a Depot between Henderson and 
Ridgeway (should the Roanoke Valley Railroad not be 
rebuilt) and one halfway between Warrentonand Littleton. 
Sufficient lands around the Depots should be purchased 
by or donated to the Company before anything be done. 

The Board deemed it advisable, under all the circum- 
stances, to defer the expense of getting water for provi- 
ding against fire for the present, as we were informed that 
the city authorities contemplated introducing water into 
the corporate limits at an early date, for that purpose, 
from a spring near Camp Mangum. We now propose 
connecting a complete arrangement for extinguishing fire 
with said water works, to be operated by steam and hand 
power. 

A train has been run regularly into Raleigh in the 
morning and out in the afternoon, for the accommodation 
of travel to the city, at reduced rates, without any per- 
ceptible increase of travel. This, however, is our regular 
Through Freight Train and makes the desired connection 
with the North Carolina Railroad. The general local tariff 
a,nd the tariff on fertilizers has been reduced, this season 
but few fertilizers were used. 

For a more detailed statement of the affairs of the 



13 

Companj', I refer you to the reports of the Superinten- 
dent, Treasurer and Auditor. 

Eespeetfully submitted, 

W. J. HAWKINS, 

PresidenL 



POR THE PrOMOTION OF IMMIGRATION AND THE SET- 
TLEMENT OF THE UNIMPROVED LANDS OF THE STATE. 

Section 1. The General Assembly of North Carolina do enact as fol- 
lows : For the purpose of promoting immigration into this State and the 
settlement of the unimproved lands of the State, a corporation is here- 
by created, under the name of ' ' The Railroad Immigration Association 
of North Carolina," to have perpetual succession and a common seal, 
which they may alter and change at their pleasure, and shall be capa- 
ble of suing and being sued, of pleading and being impleaded, with 
■capacity to hold real and personal estate. 

Sec. 2, Said corporation shall consist of the Raleigh & Gaston Rail- 
road Company, Wilmington & Weldon Railroad Company, the 
Wilmington, Columbia & Augusta Railroad Company, the North 
Carolina Railroad Company, the Seaboard & Roanoke Railroad 
Company, the Petersbarg Railroad Company, the Atlantic «fc North 
Cairolina Railroad Company, the Wilmington,'^ Charlotte & Rutherfo-rd 
Railroad Company, the Western Railroad Cnmpany, the Western 
North Carolina Railroad Company, the Piedmont Railroad Company, 
the Charlotte & Atlanta Railroad Company, the Atlantic, Tennessee 
and Ohio Railroad Company, the Charlotte, Columbia & Augusta Rail- 
road Company, the Cliatham Railroad Company, the Williamston & Tar- 
obro' Railroad Company, the Edenton & Norfolk Railroad Company, the 
ISTorth Western North Carolina Railroad Company, and all other 
Railroad* Companies now or hereafter to be incorporated, the whole or 
any portion of whose lines are in this State, or any one or more of said 
Railroad corporations, who may desire to become members of the 
corporation herein authorized. 

Sec. 3. All Railroad Corporations agreeing to become stock- 
holders of this association, shall subscribe and pay annually at such 
time as may be determined by the board of directors herein authorized, 
to the treasurer of the association ten dollars per mile (or a larger 
amount if they shall deem it necessary to carry into effect the objects 
of this charter) for each mile of road in actual running order located 
in this State. 

Sec. 4. The affairs of this association shall be managed by the 
general board of directors to be formed as follows, viz: The directors 
of each subscribing corporation shall choose one director ; these direc- 
tors shall choose a president of the association. The presidents of the 
subscribing corporations shall be ex officio vice presidents of this asso- 
ciation, and the general board of directors shall consist of said desig- 
nated directors, of the vice presidents and the president of the associa- 
tion, which president with the attorney shall reside at Raleigh. 

Sec. 5. The general board of directors may pass such by-laws for 
the government of the association as they may see fit, not inconsistent 
with the Constitution and laws of the United States or of this State, 
and may appoint and remove an attorney, secretary, treasurer and 
other officers, and fix their compensation and prescribe their duties. 

Sec. 6. The Railroad Immigration Association shall have power 
to buy and sell, lease, mortgage or otherwise convey lands, to make 
advances of money or other things to settlers and others on such terms 



15 

and on such securities, real or personal, as maybe agreed on, to nego- 
tate for the purchase or sale of lands, to aid settlers and others in the 
purchase of lands or building of houses, and improving lands, and, in 
j3:eneral, to carry on the business of a land and immigration company. 
The association may likewise own and manage steam and other vessels, 
and take measures for the transportation of persons and property into 
the State, and take all proper or customary measures for the comfort 
and interests of immigrants and settlers. It shall likewise have pow- 
er to appoint one or more commissioners and agents to visit or reside 
in Europe-and other countries as well as in the IJnited States, for the 
purpose of soliciting immigration and carrying out the objects of this 
charter. 

Sec. 7, Each Railroad Company becoming a member of this aaeo- 
ciation, shall, through its president, have control of all settlements ot 
land, and of all other business of the association along its line, Pr&md- 
^d, however, that no expenditures of the funds of the association shall 
be made without the authority of the general board thereof, and all 
net profits inade in carrying out the objects of this^ charter, by any 
company, shall be paid into the treasury of the association. Full re- 
"ports of all proceedings, and exhibit of accounts, as well as final settle- 
ments, shall be made at such time and in such mixuner as the general 
board of directors shall prescribe. 

Sec. 8. Each Railroad becoming a member of this Association, shall 
have authority to appoint agents to be paid by the appointing Compa- 
ny, for the purpose of inducing immigration to its line, but such agents 
shall be subject to the control of the General Board of Directors, and 
all questions, involving the action of such agents shall be referred to 
such Board of Directors, whose decision shall bind the parties. 

Sec. 9. All Railroad Companies in this State becoming members 
of this Association shall ti-ansport lona fide immigrants, and settlers, 
actually making settlements in this State, for not exceeding one cent 
per mile, for one trip, and their freight and baggage when moving in 
for settlement at not exceeding twenty cents per hundred pounds for 
one hundred miles. The pro\nsions of this section shall extend to the 
carrying of persons and freights over all the lines of the members of 
this Association without regard to the place of settlement of the im- 
migrants or settlers. 

Sec. 10. If any net profits shall accrue to the Railroad Immigra- 
tion Association, they shall be divided among the subscribing Com- 
panies in proportion to the net profit of each line, at such time as may 
be prescribed liy the General Board of Directors. 

Sec. 11. The Stockholders of this Association shall prescribe the 
time and place of their annual meetings. The General Board of Direc- 
tors may call a meeting of stockholders at any time they may think 
proper, and any number of stockholders having paid in one-tenth of the 
whole amount of stock paid, may call a special meeting, on notice of 
sixty days at least, in one or more newspapers published in Raleigh, 
specifying the purpose of the meeting. In all meetings, each company 
shall be entitled to a vote in proportion to the amount ^paid in by the 
same, and each Board of Directors of said company shall appoint a 
proxy to cast the vote of their company, but no one but the president or 
a director of such company shall be a proxy. 

Sec. 13. A majority of the General Board of Directors of this As- 
sociation shall be a quorum for the transaction of business. If the 
President of the Association be absent, the members present shall se- 
lect a presiding officer. 

Sec. 13. For the purpose of organizing this Association, the Board 



16 

of Directors of the first of the above named Railroad Companies shall, 
through their President, within sixty days after the ratification of this 
act, call a meeting of the Presidents of all the Railroad Companies 
herein authorized to become members of this Association, and also of 
delegates, one to be appointed l>y each of the Boards of said Compa- 
nies, at Raleigh, after giving fifteen days notice of the time and place 
of meeting, provided, that each Board may, in their discretion, be rep- 
sented by their President alone. At the meeting so held the represen- 
tatives of any one or more Companies may accept this Charter — and 
thereupon the Association shall be fully organized ; and the represen- 
tatives so accepting, shall provide for a meeting of the General Board 
of Directors hereinbefore authorized. But no Company shall be bound 
by the action aforesaid, if the Stockholders at the first meeting held 
thereafter shall disapprove such action. 

Sec. 14. Any Railroad Company may retire from this Association 
after giving ine year's notice, having first paid all its dues to the Asso- 
ciation incurred up to the time of retirement. 

Sec. 15. This act shall be in force from its ratification. 

In General Assembly read three times and ratified this fourth day 
of April, A. D., 1871. 

THOS. J. JARVIS, 

Speaker of the House. 
E. J. WARREN, 
Preiidentof the Senate. 



STATE OF NORTH CAROLINA, 

OFFICE SECRETARY OF STATE. 

Raleigh, ^pril, 13eA, 1871. 
I, Henry J. Mennixger, Secretary of State, hereby certify that 
the foregoing is a true copy of the original act on file in this 
office. 

H. J. MENNINGER, 
[seal.] Secretary of state. 



SUPERINTENDENT'S REPORT. 



Ealeigh & Gaston Eailkoad Company, 
Superin tenchnfs Office, 

Ealeigb, N. C, July 12th, 1871. 

Dr. W. J. Hawkins, 

President RaleUjli d' Gaston Railroad Co. 

Sir : — I bave the honor respectfully to submit my An- 
nual Report of the operations of this Company for the year 
ending May 31st, 1871. 

The earnings for the year have been : 

From Freights, - - $201,744 45 

Passengers, - - 79,3GG OG 

Mails,- - - 7,312 48 



Making a total of $348,422 99 

The expenses on account of operating the Eoad has 
l)een as follows : 

Maintenance of Way, - $ 50,512 25 

Conducting Transportation, - 52,G59 44 

Motive Power, - - 52,175 76 

Maintenance of Cars, - - 1G,017 02 

Miscellaneous (see items in T's. rep't,) 17,985 32 
Mileage of Cars paid other Eoads, 14,937 GO 



Total, $204,277 39 

Leaving a balance over operating expenses ol $144,145 GO, 
or about 41 per cent, on the earnings for the past year. 

Comparing the gross earnings of last year with the pre- 
vious year, we have an increase of $35,310 37 or about 11 
per cent. Nearly the whole of this increase was from 
Through Freights. The Schedules run by the K C. E. 

E. against our interest and in connection with the E. & D. 
2 



18 

R. R. at Greensboro', has taken from us and given to tbe^ 
R. & D. Road all of the through travel we formally had. 

The Road bed has been kept in excellent order, a 
large amount has been expended on this work, giving a, 
permanent improvement to the Company's property, at 
the same time facilitating and securing safe transportation 
for its passengers and freights, and reducing the wear and 
tear upon its Locomotives, Coaches and Cars. Too much 
care and attention cannot be bestowed upon this import- 
ant work, for upon the road way depends the safety and 
economy of ti'ansportation. 

We have used, in renewing track, 211 kegs of spikes, 
40,250 cross ties, equal to about 15 miles of new track. 
We have taken out, cut and replaced, a large number of 
the rough rails. We have put the 9 inch sleeve chair 
under nearly halt the joinings on the 9tli (Weldon) section,, 
greatly improving it. 

The Road has been well ditched and drained, and most 
of the bad and wet cuts ballasted. The material train is 
HOW at that work ; but the material for this puipose on 
the line of our Road is not of the l>est quality. We have 
raised, and are now i-aising, a great many of the lowest 
places, on the embankments in the road, with the earth 
from the ditches, which, when c()ini)k'te(l, will lessen very 
much some ot our steepest grades. We will require at 
least ten miles of new rails this year, to replace the old U 
iron. The old lails will pay fo:- almost half of it. Some 
of them are giving away veiy lapidly, having been on the 
road since 1^53 — 18 years; a long life for a rail when there 
is much transportation over it. This iron was of a supe- 
rior ((uality, much better than any lails now on the market. 
We have now on hand 12,504 cross ties, ready for renewal 
of track, aii<l which will be i)ut in during the next two 
months. We have (),500 cords of wood, nearly (J months 
supply, and over $13,000 worth of stores on hand. 

The Rridges are all in a safe condition. Tar River 
Eridge is progressing nipidly,. the contractor, Mr. Rcnno,. 



19 

expects to complete the Bridge tluriug the month of Oc- 
tober. The New Bridge will be the same as the old, 850 
feet long, Howe truss, a handsome and durable structure, 
and will be constructed at a cost of about $ 45,000. We 
Lave put new track-stringers in, and thoroughly repaired 
Neuse River Bridge, and the Bridge at Jeffreys'. 

The buildings are in excellent older. We have built 
new Cabins, on 1st, 4th, 5th, (Jtli and Ttli Sections, for 
the hands ; finished the wood work for the round house ; 
repaired floors in the shops ; built a large Tank near Tar 
River Bridge, holding over 10,000 gallons of water. This 
Tank is supplied by a large Ram about 200 feet from the 
road, and will enable us to do away with i>art of the force, 
both at Franklinton and Kittrell's. 

Our Locomotives (10) are all in order, except the Frank- 
lin, which has just been taken in the vShops for a new fire 
box, and a general overhauling. On the 20th of Novem- 
ber last we finished the new Tank Engine "Raleigh," and 
she commenced running the next day, in the yard, switch- 
ing trains, whrre she has been constantly engaged ever 
since. This Engine will compare very favorably with any 
Northern built machine of the same dunensions, in finish 
and efficiency. For a more detailed statement 1 refer you 
to the table of the Mivster Machinist accompanying this 
report. 

THE MACHINE SHOPS. 

We have constructed a New Steam Hammer, and it 
equals onr most sanguine expectations. We have built a 
Quartering Machine, for boring crank pin holes in diiving 
wheels, and many small tools, costing not more than the 
same tools can be bought for North. The New Planer, 
purchased from Messrs Sellers & Bro., at a cost of $1,700 
(freight to be added), < nibles us to do any work in that 
ine necessary for our Shons. I would advise the purchase 
of a Punching and Sheaving Machine, and a Lathe suita- 
ble for boring cylinders and other heavy work. AYe aie 



20 

■compelled now to repair our Boilers by band, at a greater 
■cost tban it would be if we bad tbese macnines, tbey will 
•cost about $2,500 ; witb tbe addition of tbese tools our 
Sbops would be complete. 

OUR CARS 

are in very good oi dei-, we bave overbauled and painted 
two 1st Class, one 2ud Class, and a Baggage car ; rebuilt 
and raised tbe roof of one 2nd Class Coacb. We bave a 
new Baggage Car under construction. We built 10 new 
Box Cars, 2 new Flat Cars, 10 Band Cars, for Section 
Masters, and 3 Pole Cars. We built, for tbe Cbatbam 
Eoad, 4 Dirt Cars, 11 Dump Cars, for grading, and 2 
Timber Trucks, and for tbe Williamstou and Tarboro' 
Eailroad, one 2nd Class Coacb and six new Flat Cars. 
AVe bave now five 1st Class Coacbes, six 2nd Class and 
four Baggage Cars 07 Box Cars, and 27 Flat Cars running. 

You will see, by tbe Treasurer's report, we paid otber 
Companies last year $14,927 GO mileage on cars. Tbis 
to a great extent was owing to tbe freigbts originating at 
Portsmoutb, Petersburg, and points on tbe N. C. Eoad, 
and during tbe dull seasons tbey would load tbeir own 
cars and not ours for tbrougb freigbts, tberefore we bad 
to pay mileage on tbeir cars passing over our road, wbile 
ours were standing idle. Our Flat Car equipment is suf- 
ficient to meet all demands, but I would suggest tbe build- 
ing of 25 new Box Cars. 

Our trains bave run with tbe greatest regularity, and 
I am bappy to state we bave bad no accidents causing tbe 
loss of life or property. We bave missed connection with 
our mail trains only once, caused by tbe axle breaking 
under tbe tender of Engine. 

Tbe Cbatbam Eoad is completed to tbe Western Eail- 
road. Tbrougb Tickets and freigbt tarifis bave been put 
on, over our road, from Fayetteville to New York, Balti- 
more and all points Nortb, and we may look forward to a 
considerable increase to our business fi^om tbat quarter, so 



21 

soon as the mines are opened and the minerals ready for 
shipment. During the Dry Season, when the Cape Fear 
is not Boatahle, we may expect a large business from Fay- 
ette\ille, in Kaval Stores and General Merchandise. 
Through trains are now running in connection with that 
Eoad. 

]\Ir. J. B. Gayle the Master Machinist, and Mr. J. R. 
Thrower the Eoad Master have done their dut}-, they 
have watched with a jealous eye the interests of their res- 
pective departments. 

The other officers, agents, and employees of the Com- 
pany have been very prompt in the discharge of their du- 
ties, always looking to the interests of the Company. 
They have yielded a cheerful obedience to all rules and 
regulations of the Compauj'. 

Respectfully '=iubmitted, 

A. B. ANDREWS, 
Superintendent. 



TREASURER'S REPORT. 



:n'o. 1. 

Shows tbe monthly earnings of the Eoad for current 
fiscal year ending May 31, 1871. 

Ko. 2. 
Shows the earnings and receipts, and expenditures and 
disbursements, of the Company, during fiscal year. 

:no. 3. 

Shows the Debt of the Company. 
No. 4. 

Shows the Eesources and Liabilities of the Ealeigh and 
Gaston Eail Eoad Company. 

No. 5. 

Auditor's table of earnings from fi^eight and passengers, 
at each station, during the year — compared with previous 
year. 

No. 0. 

Eeceipts from sale of the several classes of tickets, and 
miles traveled. North and South, for the year. 

No. 7. 

Comparative statement of fi-eight and passengers, at 
•each station, for the fiscal year ending May 31, 18G9, 1870, 
and 1871. 

No. 8. 
Number of seats, miles traveled, and amount received 
for Through Tickets sold by other Companies, for the 
Fiscal year. 

No. 9. 

Statement of Tonnage and miles at each station during 
the year. 

No. 10. 

List of Stockholders, July 1, 1871. 

W. W. VASS, Treasurer, 



23 






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V 24 

(No. 2.) 

Statement of the Earnings and Receipts, and of the Expenditures and 

June 1st, 1870, to 



RECEIPTS. 



Balance from last year, 

Deduct dividend of July, 1870, $74,738 00 

Deduct tax ot 5 per cent 3,736 75 

Actual balance brought from last year, 

Mttrntners from Transport atton : 

Freight, 

Passengers, 

Mail, 



Total earnings 

Miscellaneous, including rents. &c., 

From Chatham Rail Road Company, fcr materials furnished 
last year, purchase of a passenger coach, and for subsistence, 

Total earninors, and miscellaneous receipt, 

Interest received from Richmond and Danville Rail Road Co., 
«' " " Augusta and Columbia Rail Road Co., 

Receired proceeds sale of $48,000 bonds of Augusta & Colum- 
bia Rail Road Company, at seventy-six dollars, net, 

Received of Williamston & Tarboro' Rail Road Company, for 
small engine, and seven cars, 



$ 95.893 36 

78,471 75 



2fil,744 45 
79,366 06 
7,312 48 



348,422 99, 
1,022 52 

8,423 56 



108 00 
3,360 00 



May », I8TI-T0 bftlAace on hand this date,. 



$ 17,421 61 



867,868 07 
3,468 00 

86,480 00 
10,500 oa 



$435,736 66 




25 

(Xo. 2.) 

Disbursements of the Raleigh and Gaston Rail Road Company, from 
May 31st, 1871, inclusive. 



DISBURSEMENTS 



CttHdMtting- Trangporttttion — iucluding cost of conductors 
and train hands, agents, clerks, laborers, &c.; stock 
killed, losses and damages ; fuel, overcharges, and 

miBcellaneous, 

JUainlenanre of Way — including cost of superintendence, 
laborers on roadway, subsistence, reprtlrs of bridges 
and culverts, ties, repairs of buildings, tools, tanks, and 

miscellaneous 

Motive Potvcr — including cost of engine, runners, firemen 
cleaners, &c.: repairs of engines, and material; oil, 

tallow and waste, and miscellaneous, 

Jllaintennnee of Carg— cost of construction and repairs of 

freight and passenger cars, 

Migeellaneotif : 

Salabies or Officers — president, treasurer and secre- 
tary, superintendent, and auditcjr, 

Printing, advertising and stationery: lawyers, fees 
and court costs ; U. S stamps, revenue tax ; 
directors and finance committees' pay and in- 
cidental expenses, 

Office Expenses— pay of clerk, telegraph operator, 

office boy, and cost of lights, 

Mileage on cars, 

Total operating expenditures 

Tar River Bridge, expended on account, . . 

Round enRine-house, in full, 

Equipment, 

Iron, chairs and spikes 

Real Estate 



Amount of extraordinary disbursements, 

Interest on loan of 186S, on account, 

Interest on bills payable, 

Bills payable— paid George W. Mordecai, in full for notes,. 
" " " W. N. Edwards, in part for notes 



$ 53,659 44 

50,512 25 

52,175 76 
16,017 02 

9,500 00 

6,269 43 

2.215 89 
14,927 60 



28,179 56 

11,561 22 

1,7(J2 25 

31,5R3 07 

450 00 



Invested in the Bonds of Wllliamston and Tarboro' Rail Road 
Company, $14,000 at par— for, 



Balance, 



5,000 00 
3,669 50 



$204,377 .38 



78.44(5 10 
2,700 00 
6,400 U 

8.669 50 



10.500 00 



$3(>4.998 3*- 
180,745 86 



$425,788 68 



May 81, 1«71— By cash on deposit in State National Bank,. 
" " " " Raleigh " " 
*' " •' " Citizens' " " . 
" " at office of Treasurer 



By Agents at Stations balance due 

By other Companies, oills receivable and Tick- 
et account. &c.. per statement, balance, 



$34,900 32 

25,056 7« 

80,653 n 

677 98 



891,2S7 « 

ai.077 or 

8,330 00 
$ 130,745 35 



W. W. VASa, Treasurer. 



26 



(No. 3.) 

Statement of the Debt of Raleigh & Gaston R. R. Co., May 31st, 1871. 



To Company's note (Confederate) to State of North Carolina, 
on account Chatham Rail Road Company, dated Jan , 186:3, 

By bonds of the Slate of North Carolina issued to Chatham Rail 
Road Company, of equal value, to balance 

To coupon bonds of Ccmpany— loan of 1868, payable Janu- 
ary 1877, 

To bills payable. May 31, 1870, '. .'... 

By amount paid since .'........'....,. 

Amount of debt, 



CRS. 

By bondg of Richmond k Danville R. R. Co., due Aug. 1, 1871, 
By bonds of Williamston & Tarboro' R. R. Co., |14,U()0 at $75, 
By Company's 53 shares in Raleigh & Gaston R. R. Co., at par. 

To total balance amount of debt 



120,000 00 
20.000 00' 



61,300 00 
8,669 50 



1.800 00 
10. .51.0 01 
5,300 0( 



$60,000 00 

52,6.30 50 

$102,630 60 



17,600 00 



$85.0.30 60 



W. W. VASS, Treasurer. 



27 





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38 

No. 7. 



A c«mparative statement, showing the amount of Freight at each 
Station on the Raleigh & Gaston Rail Road for the years ending 
May 31st, i86g, 1870 and 1871. 



STATIONS. 



Raleigh, 

Wake, 

Franklinton, 
Kittrell's, . . . 
Henderson,. . 
Junction, . . . 
Ridgeway, . . 
Warrenton,.. 

Macon, 

Littleton, . . . 

Gaston, 

Weldon, 



Southern Express Co., 



186 9. 



109,266 19 
6,504 26 
8,404 16 
2,566 99 
13,447 52 
2,448 91 
3,658 56 
4,766 96 
2,511 06 
3,784 63 
301 43 
1,693 89 

2,423 34 



$ 161,776 90 



1870. 



156,453 39 
6,048 01 

11,587 24 
2,009 46 

14,844 26 
3,712 10 
7,659 93 
6,556 13 
2,532 78 
4,015 59 
413 31 
2,785 29 

2,470 53 



1$ 221,088 02 



1871 



196,102 40 
6,282 50 

12,205 84 
1,995 32 

15,124 54 
2,903 66 
6,944 68 
6,138 97 
2,870 38 
5,906 52 
354 01 
2,372 22 

2,543 41 



$ 261,744 46 



NoTK. — Increase of 1870 over 1869,. 
" " 1871 " 1870,. 



^59,311 13 
40,656 43 



Total increase since 1869, $99,967 55 



39 



No. 7 — Continued. 

A comparative statement, showing the amount received from Passen- 
gers at each Station on the Raleigh & Gaston Rail Road for the 
years ending May 31st, 1869, 1870 and 1871. 



STATIONS. 



Raleigh, . . . . 

Wake, 

Franklinton, 
Kittrell's, . . . 
Henderson,. . 
Junction, . . . 
Ridgeway, . . 
Warrenton,. . 

Macon, 

Littleton, . . . 

•Gaston, 

Weldon, . . . . 



Conductor's Way Bills, 
From other Companies, 
Commutation Tickets, . 
United States, 



1869 



15,829 65 
2,298 32 
3,328 15 
2,587 09 
5,406 63 
1,306 14 
1,180 67 
3,516 90 
533 10 
1,162 42 
553 72 

13,673 70 

8,430 10 
14,701 28 



3,494 75 
78,002 62 



187 



16,602 29 
2,497 20 
3,787 28 
2,342 69 
5,679 55 
1,336 30 
1,677 40 
3,618 30 
605 40 
1,162 81 
879 43 

12,891 24 

10,012 21 

16,717 48 

1,762 31 

1,910 94 



$ 83,482 83 



1871 



14,578 90 
3,189 85 
3,955 55 
1,898 70 
5,258 75 
1,371 51 
1,686 15 
3,160 35 
553 50 
1,459 94 
921 85 

11,605 36 

9,787 01 

14,749 09 

1,700 00 

3.490 55 



79,366 06 



Note. — Increase of 1870 over 1869, 

Decrease of 1871, compared with 1870, 



$5,480 21 
4,116 77 



Total increase since 1869, $1,363 44 

J. M. POOL, Auditor. 



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SUJVIMA.IIY 

Showing the Total of Way Tonnage and Miles Traveled from each 
Station during the fiscal year ending May 31st, 1871. 



STATIONS. 



Raleigh, . . . 
Wake, 

Franklinton, 
Kittrell's, . . . 
Henderson, . 
Junction, . ... 
Ridgeway, . 
Warrenton, . 

Macon 

Ijttleton, . . . 
Gaston, .... 
Weldon 



SOUTH. 



Tons. 



Miles 
Travel'd. 



66 
1031 
464 
,072i 
1161 
781i 
127 
881 
91 
671 
,619* 



10.8911 



1,168 
2,812 
1,668 

130,320 
5,889 
45,015 
2,644 
8,648 
828 
4,608 

295,753 



NORTH. 



Tons. 



1,3851 
5901 
9561 
177 

1,377^ 
4101 

1,5945 
499 
4371 
613 
215 



t99,353 I 8, 2574 



Miles 
Travel'd. 



64,540 

48,822 
70,056 
11,813 
69,190 
17,280 
66,828 
18,351 
14,176 
17,584 
2,891 



401,531 



Statement of Through Tonnage and Miles Traveled for the fiscal year 
ending May 31st, 1871. 



.M X T H 3 



SOUTH. 



June, ! 2,562 

J«ly> 2.1421 

August, , 2,585 

September, 3,211 

October j 3!8.33i 

November 2, 233| 

December, | 2,044 

January 214 

February, ] 2. 672 

March, i 2,814i 

April, 1,974' 

May, 2,576^ 



256,200 
214,300 
258,500 
321,100 
383,400 
22.3,400 
204,400 
21,40(f 
267,201! 
281, 50(.) 
197,400 
257,600 



28,863 12,886,400 



NORTH. 



916 

810 

905 

1,450 

2,120 

3,200 

.3,100 

2,800 

2.400 

2,000 

784 

670 



91,600 

81,000 

90,500 

145,000 

212,000 

320,000 

310,000 

280.000 

240,000 

200,000 

78,400 

67,000 



21,155 2,115.500 







Totals 


IVortli 


and Souili. 






WAY. 


THROUGH. 


1 TOTAL 

WAY & THROUGH 




Toils. 

8.2571 
10,8911 


Miles. ! 


Tons. 


Miles. 


Tons. 


Miles. 


North, 
South, 


401,531 
499,353 


21,1.55 
28.863 


2, 115.. 500 
2,886,400 

.5,001.900 


29,4121 
39,7.54 


2,517,031 
3,385,7.53 


Total, 


19.149^ 


900.884 1 


.50,018 


! 69.1664 


.5,902.784 



No. 10. 



LIST OF STOCKHOLDERS, 

Of the Raleigh and Gaston Rail Road Company, July ist, 1871. 



SHAEES. 1 

Amis, John 7 

Amis, James S 4 

Alston, W.H.F 2 

Arrington, S. P 56 

Addison, Augustus E 105 

Andrews, A. B 13 

Andrews, Ella H 2 

Andi'ews, Lucie D 2 

Allen, Isabella J 12 

Allen, Charles S 5 

Bryan, Mary W., Ex'trix,. . . 10 

Branch, Thomas 262 

Branch & Sous, Thomas .... 4 

Branch, James R 2 

Branch, Mary A 105 

Branch, Bettie R 105 

Branch, L. O'B 19 

Burt, P. B 1 

Butler, A 7 

Brodie, T. L 7 

Bullock, B. F 4 

BuUock, JohnD. 2 

Bullock, Susan M ■ 52 

Bullock, Walter 27 

Bullock, R. A 21 

Burwell, A. R 7 

Burwell, H. H 7 

Burwell, John S 2 

Beckham, M. K 1 

Battle, W.S 250 

Battle, W. H 10 

Battle, KempP 100 

Battle, K. P., Adm'r, 3 

Battle, R. H 25 

Battle, Richard H., Jr., 12 

Brown, H. P 1 

Brown, P. J 1 

Brown, J. Wilcox 26 

Brown, J. Wilcox, Trustee, . 2 

Brown, J. F. & J. W 18 

Brown, Mary S 14 

Batchelor, Joseph B 32 

Bragg, Thomas 104 

Bragg, Thomas, Trustee of 

Blanch B. Syme, 8 

Bragg, W. A 7 



SHABES. 

Burroughs, S. A 1 

Barringer, D. M 322 

Barrow, J. S 1 

Boiling, Robert 73 

Booth & Summers 1 

Bradbury, T. W 1 

Bishop, Asa 1 

Broadnax, W. S 88 

Boylan, Jane 42 

Boylan, Catherine 21 

Boylan, John S 8 

Boylan, John H 7 

Baylor, Elizabeth P 21 

Biddie, Thomas & Co., 7 

Bond, T. H 1 

Brownley, Bolivia T 22 

Biggs, Asa 10 

BaUard, B. T 36 

Blacknall, George W 3 

Blacknall, John T 2 

Bones, James W. , Trustee, . 100^ 

Badger, Thomas 2 

Brander, James S 155 

Carter, David M 17^ 

Cavarly,J. D 50 

Citizens' Bank of Norfolk, . . 50 

Cliffton, T. T 1 

Chamberlaine, W. W 56 

Chamberlaine, W.W.,Trus., 735 

Chamberlaine, George 70 

Cameron, P. C 29 

Cameron, M. C 594 

Cosby, John W 1 

Crenshaw, John M 25 

Cannady, M. E 2 

Cannady, Wyatt 9 

Cannady, W. M 1 

Cheatham, E. G 1 

Cooper, J. C 31 

Cooper, J. H 8 

Calvert, S .• 14 

Carroll, Thomas 16 

Cheek, E. A 7 

Crews, Rebecca A 8 

Crews, W. B 4 

Cunningham, EmmaR 105' 



48 

Stockholders, July ist, 1871. 



SHAKES. 

Caldwell, W. A 15 

Cornick, James 84 

Clark, Walter 107 

Clarke, Thomas A 4 

Cox, W. R 11 

Crudup, Dr. E. A 1 

Camp, W. T 50 

Cowper, H. D 25 

Dewey, C 37 

Dunn, J. B 7 

Deljiiam, Thomas R . 2 

Dent, James 1 

Davis, Isaac 40 

Davis, Joseph J 15 

Davis, J. C 11 

Davis, W. S 19 

Davis, R. A 3 

Daves, E. Graham 31 

Davis, Roper & Co. , 1 

Drummond, Samuel 4 

Donuan, A 4 

Donnan, David 7 

Dickson, Richard 105 

Duffield, C. B 162 

Dawley, Virginia 12 

Dudley, Mrs. Thomas A 17 

Edwards, W. N 105 

Edwards, L. C 2 

Ennis, James 1 

Eagle, Caroline A 21 

Egerton, B. J. & Pitchford, 7 

Freeman, Harriet G 39 

Fowls, D. G 21 

Fuller, J. H 5 

Grates & Wilcox, 7 

Green, W. O 2 

Green, E 5 

Green, Rebecca 2 

Gardner, Mrs. W. F 18 

Gregory, Lucie 10 

Grigg, Wesley 7 

Grimes, William 283 

Gordon, John D. & Co., 200 

Gordon, John D., Adm'r of 

R. H. Timberlake, 11 

Gordon, John D,, Adm'r of 

Frances C. Timberlake, . . 7 

Gatlin, Sarah 2 

Haywood, Dr. F. J 17 

Haywood, Martha H 31 

Haywood, Maria T 5 

Haywood, Sallie B 5 

Hogg, Sarah L 19 

Harris, J. W 7 



SHABES. 

Harris, B. F 105 

Harris, Charles 210 

Hood, W. H 2 

Hawkins, P 1 

Hawkins, Jane A 26 

Hawkins, John D 14 

Hawkins, Dr. W. J 20 

Hawkins, Alethea C 105 

Hawkins, Louisa N 105 

Herndon, R. N. & D. C. . . . 16 

Herndon, Dr. John R 33 

Herndon, H. C. & W. G. . . . 8 

Hawkins, Phil. B 5 

Hicks, Dr. John R 7 

Hicks, Robert J 12 

Hicks, W. H 5 

Hargrove, H. W 2 

Hargrove, Tazewell 1 

Hester, Hamilton 2 

Hester, B. F. , Executor, ... 3 

Hamilton, Robert A 36 

Hamilton, H. M 9 

Hamilton, E. H 9 

Hamilton, R. J 9 

Hamilton, S. A 9 

Hamilton, E. A 9 

Hamilton, H. C 9 

HiU, R. R 1 

Harrison, Dr. B. S 152 

Harrison, P. B 1 

Hardy, Thomas A 63 

Hardy, W. J 63 

Hunt, James T 2 

Hurt, Branch T 2 

Harmanson, Lafayette 20 

Ives, A. C, Trustee, 32 

Jones, Alfred 26 

Jones, Martha E 22 

Jones, Ann 14 

Jones, W. H. (Halifax,). . . . 52 

Jones, W. H. (Wake,) 1 

Jones, Rufus H 36 

Jones, E.P 57 

Johns, John B 2 

Jordan, Emily C 21 

Joyner, W. H 1 

Jeffreys, L. A 1 

Johnson, J. R 4 

Johnson, Bradley T 20 

Johnson, Mrs, Bradley T . . . 61 

Johnson, Emma E 13 

Judkins, Thomas J 1 

Jenkins, William A 6 

Joynes, Virginia S IS 



4d 



Stockholders, July ist, 1871. 



SHAKES. 

Kingsbury, R. H 18 

Kingsbury, R. H., Trustee,.. 43 

Kingsbury, Florence 42 

Kingsbury, Lucie R 43 

King, John G 45 

Kevan, Andrew 14 

Kevan, John 7 

Lane, Tempe 14 

Lane, Bettie 10 

Little, George 7 

Lemoine, John E 4 

Leslie, Rol^ert 226 

Latimer, J. K 14 

Lindsay, Andrew D 31 

Lindsay, Jesse H 126 

Lassiter, D. W., Executor, . . 167 

Lassiter, J. H 5 

Leavenworth, F. P 63 

Lewis, Richard H 180 

Lanier, Mrs. il V 4 

L ' Engle, Madeline M 20 

Moore, B. F 357 

Moore, Annie M 7 

Moore, Sallie L 3 

Moore, George B 6 

Mitchell, Mary E 23 

Mitchell, Mrs. E. H 174 

Mitchell, Leroy 1 

Mahler, Henry 19 

IMiller, Andrew 23 

Mordecai, George W 188 

Mordecai, Henry 7 

Marriott, B 3 

Marriott, J. C 1 

Montague, Dr. H. W 1 

3IcGill, John 100 

Mason, W. 8 10 

Montague, L 7 

Mayfield, J. O'K 16 

May, David 7 

May, James 7 

McFarland, Caroline 1 

Mcllwainl, A. G 88 

McPheeters, A. M 55 

McRea, wife of Rev. C. F. 

McRea, 10 

Martin, W. K. 15 

Martin, Robert A 8 

Morten, L. P., Trustee of L. 

K. Morten, 53 

Neal, L.W 7 

Neal, A 1 

Norwood, N, M 1 



SHABES. 

Newton, Thomas 1 

Norris, James A 1 

Norris, Richard 7 

Norfolk Saving's Institution, 168 

Nunn, James D 3 

O ' Rorke, John 28 

Partridge, Sophia 5 

Park, J^ E 33 

Pullen, R. S 36 

Purefoy, A. V 6 

Purefoy, Isabella .... 3 

Purefov, James S 7 

Purefov, A. F 7 

Purefoy, F. M., Trustee, 20 

Proctor, J 1 

Person, P. C 11 

Person, Sallie 4 

Person, W. M.. 1 

Person, W.E 4 

Person, Thomas A 14 

JPerry, Dr. A. S 54 

Perry, J 7 

Perry, Seaborn 5 

Perry, B 1 

Perry, Charles -3 

Peace, P. P 36 

Peace, W. L 58 

Peace, Josephine 10 

Peace, L. E. D 31 

Peace, Margaret S 10 

Peace, Ellen A 10 

Peace, C. C 49 

Peace, Josephus A 8 

Parham, Asa 1 

Parham, Lewis 1 

Powell, W. M 1 

Parker, Sarah, Trustee, 5 

Pool, Catherine 30 

Parks, Marsliall 10 

Penrose, C. B 4 

Peebles, Lemuel 37 

Plummer & Arrington, 23 

Pittard, Eastern E 3 

Pelham. Robert 94 

Quincey, W. A 1 

Rodman, William B 20 

Royster, S. S 29 

Royster & Venable 7 

Royster, W. D 10 

Royster, C. S 10 

Royster, N. K 10 

Roulhac, J. G. B 14 

Riggan, L. E 1 



50 

Stockholders, July rst, 187 1. 



8HABES. 

Rowland, Horace H 2 

Rowland, Charles H 53 

Rowland, Mrs. Sarah R 17 

Rand, W. H 50 

Rand, Parker 126 

Robinson, Isaac 22 

Robards, Ann S 5 

Raleigh National Bank, .... 14 

Simmons, W. G 3 

Scott, John W 25 

Scott, Fred. R 9 

Satterwhite, E 1 

Smith, Mary L 35 

Smith, Virginia H. B 35 

Smith, Nannie M 37 

Smith, R. H 2 

Smith, Penelope 115 

Smith, J. M. & Co., 70 

Smith, Sarah E 5 

Smith, W. R 1 

Smedes, Rev. Aldert 170 

Soutter, J. T 250 

Sanford, CO 73 

Sanford, S. A 1 

Sanford, E. D 102 

Scarborough, George P 67 

Stewart, Thomas 1 

Selby, T. H 10 

Skinner, John 1 

Spivey, D.W 16 

Speed, J.J 7 

Steed, A. L 1 

Steed, J. H 1 

Shaffer, A. S 1 

Sasser, Lucinda D 10 

Selden, W 210 

Sharp, W. W 193 

Steele, W. L 52 

Speight, Mary S 21 

Southall, Martha, Trustee, . . 57 

Saunders, Julia A 40 

Timberlake, Julian B 5 

Timberlake, Anna B 5 

Taylor, Joseph 7 

Taylor, Emma C 80 

Taylor, Tazewell 20 

Tucker, W. H. & R. S 112 

Tennant, D. B 267 

Tally, W. W 14 

Tazewell, Ella W 21 

Tazewell, Sally 21 



SHARKS. 

Tannahill, Robert 10 

Tarry, Geo., Jr., Guardian, 105 

Thorpe, Benjamin P 5 

Thomson, Mason 252 

Vass, W. W 71 

Vaughan, J. W 1 

Weston, J. Carey 21 

Walters, Rev. W. T 57 

Walters, Mrs. J. 3 

Wake Forest College, Trus., 292 

White. Thomas, Guardian, . . 64 

White, Thomas 18 

White, John 5 

White, J. B 1 

White, Angeline 5 

Winder, John C 8 

Winder, Caroline A 23 

Womble, Jordan 1 

Williams, John R 1 

Williams, Alfred 42 

Williams, Sarah A 78 

Williams, J. Buxton 23 

Williams, John A 2 

Williams, W. L 8 

Williams, John G 15 

Winston, John 2 

Watkins, E. W 2 

Watson, John 13 

Watson, J. W. B 10 

Ward, S. G 1 

Whitaker, W. S 68 

Wilkins, Dr. E. W 102 

Withers, Thomas 7 

Wallace, Thomas 36 

Willard, W. H 42 

Willard, W. H., Agent, .... 31 

Weems, Mary A 10 

Williamson, Temperence. ... 6 

Wharton, David 21 

Webb, James F., Trustee, . . 14 
Welton, Thos. Abercrombie, 

Trustee, 389 

Wilson, Colston & Co. 50 

Wiley, P. A., Cashier Citi- 
zens' Bank, 44 

Yancey, John G., Jr., 2 

Raleigh & Gaston Rail Road 

Company, 53 

Total number of Shares, 15,000 



FINANCE COMMITTEE'S REPORT. 



The Committee of Finance and Inspection submit tlie 
following report : 

That they have carefully examined the books and ac- 
counts of the Treasurer, and find them to be correctly 
and accurately kept, and his published statements contain 
all the information necessary to exhibit a full account of 
the financial condition of the Company. 

The debt of the Company now due, after deducting as- 
sets in hand, properly applicable to meet it, is $85,030.50. 
This appears larger than the last exhibit, for the reason 
that the bonds of the Columbia and Augusta Eail Eoad 
Company, then held by this Company, have been since 
sold, and the amount realized therefor is being used for 
the construction of the bridge over Tar River. 

The statement of the expenditures for the last year, 
accompanying the Treasurer's report, we think does not 
properly classify the items. 

Although this statement gives a correct exhibit of all 
moneys paid out, yet, at the same time, it does not properly 
classify such articles as have been paid for and are now on 
hand, and should properly be a credit on the expense ac- 
count. 

We allude to the cars built during the year, and stores 
now on hand and paid for, and which are now for use 
during this year. 
By reference to the report of the Superintendent 

it appears that new Box, and other Cars, have 

been built, costing about $10,000 

Stores on hand, and ties, about 16,000 



Making $2G,000 



whicli was charged to current expense account, and whicb 
should properly be credited to that account in estimating 
the cost of operating the road for the last year. Should 
this be done the ordinary expenditures of the year would 
have been $178,277.39. 

The Committee have examined the reports of the cost 
of operating the Eoad each year since its completion, and 
find that the per centage of the current expenditures for 
operating the Koad, as compared with the gross receipts 
from freight, passengers and mail, to be as follows : 



1853, 50 


pel 


ret. 


1858, 60 per ct. 


1863, 37 per ct. 


1868, 67 per ct 


1854, 40 




11 


1859, 60 


1864,43 


1869, 69 


1855, 52 




" 


1860, 67 


1865, 63 


1870, 63 


1856, 56 




" 


1861,41 


1866, 81 " 


1871, 58i " 


1857, 47 




i 1 


1863,33 


1867, 73 





This percentage of 1871 is according to the statement 
of the Treasurer, but if the credits are placed to this ac- 
count, as indicated by your Committee, the per centage 
of that year would be about 50 per cent. 

Your Committee have examined the reports of many 
adjoining roads, as well as those farther North and South, 
and find that the per centage of expense on this Eoad is 
less than any other in like situation and doing a full busi- 
ness. 

Your Committee have made a thorough investigation of 
all the expenditures on the road, with a view of arriving at 
some conclusion as to how, and where a reduction should 
be made. 

The main channel of outlay is the item of salary, wages, 
and labor, both on the Road and in the Shops — all of these 
we have examined, and are of the opinion that no reason- 
able deduction could be made. 

It is true that the pay of the employees of the Com- 
pany might be reduced, and the Company might say that 
only a certain price should be paid for each class of services, 
but, as there are two sides to every bargain, the operative 
might also decline to take the price, and the Company 



58 

might be forced either to pay higher wages, or employ in- 
ferior men. 

It is also true that the prices now paid for labor, and 
indeed for services of all kinds, are higher than in the 
years 1853 and 1854, and those years during the first run- 
ning the Eoad. Yet this is easily accounted for, from the 
great change which has taken place in both the political 
and social affairs of the country. Formerly, the majority 
of the labor was slave labor, good, it is true, for the purposes 
used, and cheap ; now there is no such thing. Then labor 
was regarded by many as somewhat degrading; now, under 
the new order of things, labor is regarded as more honor- 
able, and is assuming its proper position in the country, 
and demanding a proper compensation. 

It is due to the employees and operatives of the Com- 
pany, to say that they are a highly honorable and respect- 
able body of men, remarkable for sobriety and the general 
interest they take in the prosperity of the Eoad, who have 
served the Company faithfully for years, and it would 
neither be just or honorable for the Company to receive 
their services without giving them a remuneration suffi- 
cient to afford a decent support for themselves and families. 

In comparing the prices paid to our agents and employees 
with those paid by other companies, we find them to be 
less, on an average, for like services 

The exhibit made by the accounts of the receipts of the 
Company, for freights and passengers, does not show what 
we have really earned by our work, and what we should 
have been entitled to receive by a fair distribution of the 
money earned from through freights and passengers. 
Should a fair pro rata division of these earnings have been 
made, the income of this Company for the last year would 
have exceeded the sum of $450,000. 

Such, hov\'ever, is the position of our lload, flanked on 
either side by competing lines, that it requiies great skill 
and prudence in its management to maintain its position 
as a paying property. While it is much to be regretted 



54 

that we have been placed in this position, yet the Com- 
mittee are ot the opinion that the arrangements made for the 
last year by the Board of Directors (however hard they 
may have operated) were the best that could be effected, 
under the circumstances. 

What is to be done for the future, and what new arrange- 
ments are to be effected in the various changes now being 
made in the course of trade and transportation, are ques- 
tions which should engage the serious consideration of the 
Company. 

The completion of the Chatham Eoad to a junction 
with the Western Eoad at Sandford, opens a new country, 
and will increase the business over this Eoad. The lands 
along the line of the Chatham and Ealeigh & Gaston 
Eoads are rich and productive ; water power is abundant ; 
the climate healthy and delightful. Eich in minerals, em- 
bracing the lumber, grain, cotton, tobacco, fruit and wine sec- 
tions, this part of the State affords a fine field both for the 
capitalist and laborer. Every facility should be afforded to 
immigration, so that this section should be settled up, and 
the resources of the country be developed. 

Situated as we are, it becomes a matter of vital neces- 
sity for this Company to use every exertion to foster and in- 
crease the local business along the line of these Eoads ; 
we therefore urge the erection of new Depots, &p. 

Since the last meeting, the Board of Directors have re- 
duced the tariff on local freights. By reference, you will 
find that the local freights on this Eoad are lower than on 
any of the adjoining roads for the same class of freight. 

The roadway is in good order, a number of new ties put 
in, and a great portion well ballasted, but there is need of 
more ballasting. Tar Eiver Bridge is being rapidly rebuilt, 
and will be completed by the fall. This will be a fine, sub- 
stantial structure, and will last for many years. The other 
bridges are in good repair, and are considered perfectly 
safe. 

The Depots are in good repair, and well kept. 



55 

The Shops, iu Ealeigh, are in fine order, and reflect much 
credit on the Superintendent and Master Machinist. 

Since the last annual meeting, this Company has met 
with a great loss in the death of George W. Mordecat, 
one of its Directors. Mr. Mordecai was always an ar- 
dent friend and supporter ot the Kaleigh & Gaston Eail 
Eoad. During its darkest days he served as its President, 
and in other important positions, and for very inadequate 
compensation. He was an able, honest and good man — a 
Christian gentleman, whose loss will not only be felt by 
this Company, but by the community in which he hved, 
and the whole State. 

Eespectfully submitted, 

THOS. B. VENABLE, ) 

D. M. BAEEINGEE, > Committee. 

E. S. TUCKEE, ) 






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