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PROCEEDINGS
/^
OF THE
STOCKHOLDERS
OF THE
|l!
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.
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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 0
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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02
K ^ PL, w H ^ Pi ^ ;s k:; O ^
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 0 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 0 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. 0 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, )
V », .-■•
-|£5/*.<^.
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