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Raleigh  and  Gaston  Railroad  Company- 
Proceedings  of  the  twenty-fourth  annual 
meeting^- held  at  Raleigh,  July  16,  1874 


=^6 


North  Carolina  State  Lioraiy 
Raleigh 


■  t 


PROC^EEDINGS 


STOCKHOLDERS 


Raleigh  ct  rxaston  Railroad  Co., 


AT  THEIK 


TWENTY-FOURTH   ANNUAL   MEJ:T1NG, 


RALEIGH,  JULY   16th,  1874. 


Also,  the  Annual  Reports  of  the  President,  Superintendent,  Treasurer,  (SiC. 


RALEIGH: 

NKWS  ri'BM.SIIIXG  COMPANY,   FAYETTEVIl-I.K  STUEET. 
1874. 


PROCEEDINGS 


STOCKHOLDERS 


Raleigh  &  Gaston  Railroad  Co., 


AT  THEIR 


TWENTY-FOURTH   ANNUAL  MEETING, 


HELD  AT 


RALEIGH,  JULY  16th,  1874. 


Also,  the  Annual  Reports  of  the  President,  Superintendent,  Treasurer,  &c, 


RALEIGH: 


NEWS  PUBLISHING  COMPANY,  FAYETTEVILLE  STREET. 

1874. 


DIRECTORS  AND  OFFICERS. 


DIRECTORS: 

JOS.  B.  BATCHELOR,         PAUL  C.  CAMERON, 
GEORGE  W.  GRICE,  GEORGE  LITTLE, 

WALTER  CLARK,  W.  W.  CHAMBERLAINE. 


OFFICERS: 

WILLIAM  J.  HAWKINS,  President. 
A.  B.  ANDREWS,  Superintendent. 
WILLIAM  W.  VASS,  Treasurer. 


COMMITTEE  OF  INSPECTION: 

THOS.  B.  VENABLE,  A.  M.  McPHEETERS, 

RUFUS  S.  TUCKER,  W.  J.  BAKER. 


PROCEEDINGS 

OF  THE 

TWENTY-FOURTH  ANNUAL  MEETING 

OF  THE 

^torHioIte  of  tfe  ||aleiglt&  ||af5ton  :ptIroa(l  :(|^o„ 


HELD  ON  THURSDAY,  JULY  16th,  1874. 


At  a  meeting  of  the  Stockholders  of  the  Raleigh  & 
Gaston  Railroad  Company,  held  at  its  office  in  Raleigh, 
on  Thursday,  the  16th  of  July,  1874 : 

The  meeting  was  called  to  order  by  Dr.  W.  J.  Hawkins, 
on  whose  motion  Col.  David  M.  Carter,  of  Raleigh,  was 
called  to  the  Chair,  and  W.  W.  A^ass  and  Thomas  Badger 
appointed  Secretaries. 

The  Committee  designated  at  the  last  annual  meeting 
on  Stock  and  Proxies,  consisting  of  A.  M.  McPheeters 
and  W.  W,  Vass,  presented  the  following  report,  which, 
on  motion  of  Jos.  B.  Batchelor,  Esq.,  was  received  and 
adopted  : 

Capital  Stock  of  the  Company — shares, 15,000 

Shares  represented  in  person, 2,194 

Shares  represented  by  proxy, 9,849 

Total  shares  represented, 12,043 

It  appearing  that  a  large  majority  of  the  stock  of  the 
Company  was  represented,  the  Chairman  declared  the 
meeting  duly  organized. 

Dr.  W.  J.  Hawkins,  President  of  the  Road,  read  the 
annual  report  of  the  President  and  Board  of  Directors. 


PROCEEDINGS    ANNUAL    MEETING 


On  motion  of  A.  M.  McPheeters,  Esq.,  the  report  of  the 
President,  and  accompanying  reports  of  the  Superinten- 
dent and  Treasurer,  were  received  and  adopted  : 

Major  T.  B.  Venable,  Chairman  of  the  Committee  of 
Inspection,  read  their  report,  which,  on  motion,  was 
received  and  ordered  to  be  published  with  the  proceed- 
ings. 

The  Chairman  called  attention  to  that  part  of  the 
President's  report,  which  refers  to  the  rebuilding  of  the 
Roanoke  Valley  Railroad,  and  suggested  that  some  action 
be  taken  by  the  Stockholders  in  regard  to  the  same 

Major  George  W.  Grice  addressed  the  meeting,  explan- 
atory of  the  several  propositions  which  had  been  sub- 
mitted to  the  Board  of  Directors,  by  a  commission  repre- 
senting the  citizens  of  Mecklenburg  county,  Va. 

Messrs.  Cameron,  Batchelor,  Venable  and  others,  in 
remarks,  favored  any  proper  scheme  that  might  be  de- 
vised for  the  resuscitation  of  said  road ;  whereupon 

A.  M.  McPheeters,  Esq.,  ofl'erred  the  following  pream- 
ble and  resolution,  which  were  adopted: 

Whereas,  An  effort  is  now  being  made  to  rebuild  the  Roan- 
oke Valley  Railroad  from  Mansou,  on  this  road,  to  Clarksville, 
Va.,  and  the  aid  of  this  road  is  sought  to  accomplish  that  ob- 
ject ; 

Besolved^  That  the  President  and  Directors  of  this  Company 
get  the  best  proposition  that  may  be  had  from  the  people  of 
Clarksville  and  that  section  of  the  cotmtry,  and  if  satisfactory 
to  the  Board  that  they  may  submit  the  same  to  a  general  or 
called  meeting  of  the  Stockholders  of  this  Company  for  ratifi- 
cation. 

On  motion  of  Mr.  Venable,  the  Stockholders  proceeded 
to  ballot  for  a  President  for  the  ensuing  }ear,  Dr.  R.  J. 
Hicks  and  Thomas  White  acting  as  tellers,  resulting  as 
follows  : 

Dr.  W.  J.  Hawkins  received 11,880  votes. 

Scattering, 107     " 


STOCKHOLDERS    RALEIGH    &    GASTON    RAILROAD.  5 

The  Chairman  ann(/Uiicecl  to  the  meeting  that  Dr.  W. 
J.  Hawkins  was  duly  elected  President  for  the  ensuing 
year. 

On  motion,  the  meeting  went  into  an  election  of  six 
Directors,  resulting  in  the  re-election  of  the  following- 
named  gentlemen  : 

George  W.  Grice,  of  Portsiiiouth,  received.  .  . .  11,350  votes. 

Paul  C.  Cameron,  of  Hillsboro,  received 11,323  votes. 

Joseph  B.  Batchelor,  of  Kaleigh,  received 11,323  votes. 

W.  W.  Chamberlaine,  of  Norfolk,  received 11,154  votes. 

Walter  Clark,  of  Raleigh,  received 11,293  votes. 

George  Little,  of  Pialeigh,  received 11,308  votes. 

On  motion  of  Dr.  W.  J.  Hawkins,  the  following  named 
gentlemen  were  continued  on  the  Committee  of  Inspec- 
tion, viz  :  T.  B.  Venable,  A.  M.  McPheeters,  R.  S.  Tucker 
and  W.  J.  Baker. 

On  motion  of  Joseph  B.  Batchelor,  Esq.,  W.  W.  Vass 
and  A.  M.  McPheeters  were  continued  as  the  Committee 
on  Stock  and  Proxies. 

On  motion,  the  meeting  adjourned  sine  die. 

DAVID  M.  CARTER,  Chairman. 
W.  W.  Vass,         1  <-.      ,     . 
Thomas  Badger,  r^^^^^«^^^^- 


REPORT  OF  COMMITTEE  ON  INSPECTION. 

The  Committee  of  Lispection  report  that  they  have  exam- 
ined the  books  of  the  Treasurer,  and  find  them  accurately 
kept,  and  that  the  statements  made  in  his  report  is  a  fair  ex- 
2JOsition  of  the  financial  condition  of  the  Company. 

Since  the  last  annual  meeting  much  new  iron  has  been  put 
dovv'n,  and  new  ties  placed  on  the  road-bed  and  ballasted  ;  the 
condition  of  the  track  way  is  improved,  and  as  soon  as  the  bal- 
ance of  the  new  iron  now  contemplated  to  be  placed  on  the 


REPORT    OP    COMMITTEE    ON    INSPECTION. 


road  is  put  down,  it  will  compare  favorably  Avitli  any  railroad 
in  the  country. 

The  bridges  are  in  fine  order  and  perfectly  safe.  The  one 
over  Crabtree  is  now  being  rebuilt,  and  will  be  completed  in  a 
short  time.  The  rolling  stock  is  in  good  order.  The  shops  are 
well  managed,  and  afford  every  facility  for  carrying  on  the 
necessary  work  in  their  line. 

We  would  again  call  the  attention  of  the  Stockholders  to  the 
necessity  of  a  new  depot  at  Ealeigh,  and  some  protection  of 
the  engines  and  cars  at  Weldon. 

Since  the  Lst  meeting  it  is  a  matter  of  congratulation  that 
the  Directors  of  the  Raleigh  &  Augusta  Air-Line  Eoad  have 
been  able  to  overcome  the  difficulties  in  the  way  of  pushing 
forward  the  work  on  the  road,  and  that  work  has  been  com- 
menced at  Sanford  to  extend  that  road  to  the  Carolina  Cen- 
tral. The  necessity  of  this  extension  is  too  apparent  to  require 
any  argument  to  prove  it. 

While  our  receipts  have  fallen  off  largely  on  account  of  loss 
of  business  from  the  North  Carolina  Road,  yet  there  has  been 
also  a  great  decrease  in  the  expense  account. 

Since  our  last  meeting  Hon.  D.  M.  Barringer,  a  member  of 
this  Committee,  has  died.  General  Barringer  was  a  man  of 
fine  talents  and  strict  integrity,  and  had  served  his  country  in 
many  situations  of  great  importance  in  a  manner  highly  honor- 
able and  creditable  both  to  himself  and  his  country. 

By  reference  to  tke  reports  it  will  appear  that  the  financial 
condition  of  the  Company  is  good,  and  if  the  present  arrange- 
ments are  fairl}'^  and  prudently  carried  out  the  property  will  be 
placed  in  first  rate  order. 

When  this  is  done  and  the  Raleigh  &  Augusta  Road  is  com- 
pleted, we  see  no  reason  why  the  Company  should  not  earn 
and  pay  good  dividends. 

THOMAS  B.  VENABLE,  Chairman. 


PRESIDENT'S  REPORT. 


Office  Raleigh  &  Gaston  R.  R.  Co., 

Raleigh,  W.  C,  July  1st,  1874. 

To  the  StocIcJiolders  of  the 

Raleigh  &  Gaston  Raih'oad  Company  : 

Gentlemen  : — Your  President  and  Board  of  Directors 
respectfully  submit  tl.eir  twenty-fourth  annual  report  for 
your  information  and  consideration  : 

The  business  on  your  road  for  the  fiscal  year  ending 
31st  May,  is  as  follows : 

Receipts  from  Freights, $  187,320  99 

"       Passengers, 79,679  56 

"       Mails, 7,275  00 

*•'  '•       Sundry  sources, 517  81 

$  274,803  36 
Operating  expenses  of  all  kinds, 192,508  99 

Showing  a  profit  for  the  year  of $    82,294  37 

This  amount  added  to  the  balance  in  the  hands  of 
your  Treasurer  at  the  end  of  the  fical  year,  as  unex- 
pended balance,  makes  a  total  of  $107,867.78. 

In  consequence  of  the  absolute  necessity  of  placing 
new  rails  upon  your  track  and  the  rebuilding  of  Crabtree 
Bridge,  your  Board  have  deemed  it  best  for  the  interest 
of  the  Stockholders  to  purchase  one  thousand  tons  of  best 
American  T  rails  and  fastenings,  so  as  to  get  them  in 
position  this  summer,  which  will  place  your  roadway  in 


PRESIDENT  S    REPORT. 


good,  safe  and  economical  condition,  and  thus  be  pre- 
pared for  the  hoped  for  increase  of  business  the  com- 
ing Fall  and  Winter. 

They  have  also  contracted  with  Mr.  David  Renno,  the 
justly  celebrated  bridge  builder,  for  the  construction  of  a 
first  class  "Howe  Truss"  Bridge  over  Crabtree,  to  be 
built  in  the  best  and  most  substantial  manner,  and  com- 
pleted within  90  days.  With  the  completion  of  this 
bridge  every  one  on  your  road,  except  that  over  Neuse 
River,  will  be  of  the  very  best  description  of  Howe  Truss, 
and  in  perfect  order.  That  over  the  Neuse  is  in  good 
order  and  condition,  and  whenever  it  becomes  necessary 
a  Howe  Truss  will  be  substituted  for  the  lattice  bridge 
now  spanning  this  stream. 

The  Stockholders  will  see  that  the  expenditures  for  the 
iron  and  bridge  will  necessarily  prevent  a  dividend  for 
the  p.ast  year,  but  3^our  Board  deem  it  of  more  para- 
mount importance  to  place  your  road  in  a  safe  and  good 
condition,  so  as  to  enable  it  to  do  the  business  of  a  first- 
class  company,  and  thus  secure  permanent  future  divi- 
dends than  to  use  the  amount  on  hand  at  the  end  of  the 
past  fiscal  year  in  payment  of  a  dividend. 

The  condition  of  all  the  property  of  the  Company 
has  been  very  greatly  improved  during  the  past  three 
years,  and  is  now  far  more  valuable  than  at  any  time 
s".nce  the  close  of  the  war,  tne  roadway,  superstructure, 
buildings  and  equipment  have  had  especial  attention, 
and  although  large  expenditures  have  been  required  for 
repairs  and  new  work,  you  have  the  satisfaction  of  know- 
ing that  j'our  property  is  in  better  order  and  safer  condi- 
tion, and  more  valuable  than  heretofore. 

Your  attention  is  called  to  the  fact,  as  shown  in  the 
accompanying  reports,  that  the  gross  earnings  of  the  Road 
have  decreased  fully  ninety  thousand  dollars  last  year  un- 


PRESIDENTS    REPORT. 


der  that  of  the  preceding  year ;  this  is  attributable 
mainly  to  three  causes: 

1st.  On  the  first  of  August  the  contract  heretofore  ex- 
isting between  your  Company  and  the  North  Carolina 
Railroad  Company  expired  by  limitation,  and  since  that 
time  much  of  the  freight  business  heretofore  enjoyed 
by  us  has  gone  by  the  Richmond  &  Danville  Road,  the 
lessees  of  the  North  Carolina  Railroad,  who  control  its 
business  and  its  destiny,  without,  as  is  believed,  much 
benefit  to  them,  though  with  loss  to  us. 

2d.  The  boatable  condition  of  the  Cape  Fear  River, 
which  took  to  Wilmington  the  business  of  the  Western 
Road,  and 

3d.  The  financial  panic  and  the  general  monetary  em- 
barrassments which  followed,  and  are  now  being  felt  by 
all  the  industries  and  interests  tributary  to  our  railway, 
and  universally  throughout  the  South. 

It  appears  to  be  hopeless  for  us  to  look  to  any  business 
from  our  natural  ally  and  former  friend,  the  North  Car- 
olina Railroad  Company,  so  long  as  it  is  worked  and  con- 
trolled by  the  present  lessees  in  their  exclusive  interest, 
and  hence  we  must  look  to  other  territory  and  means  for 
our  future  prosperity.  In  this  connection  it  affords  your 
Board  much  pleasure  to  state  that  arrangements  have 
been  about  perfected  for  the  immediate  extension  of  the 
Raleigh  &  Augusta  Air-Line  Railroad  from  Sanford  to  a 
connection  with  the  Carolina  Central  Railway,  and  work 
on  the  same  will  have  commenced  when  this  report  is 
read  by  you ;  this  extension  will  add  largely  to  the  re- 
ceipts of  your  Road,  and  give  you  a  new  outlet  to  Char- 
lotte, the  South  and  the  West. 

An  earnest  effort  is  now  being  made  by  the  citizens  of 
Clarksville  and  Mecklenburg  county,  Va.,  for  the  re- 
building of  the  Roanoke  Valley  Railroad  from  Manson, 
2 


10  president's  report. 

on  your  Road,  to  Clarksville,  on  the  Roanoke  River.  A 
commission  from  the  citizens  of  that  section  have  inter- 
viewed your  President  and  Directors  on  the  subject,  and 
have  expressed  themselves  as  being  highly  gratified  with 
its  result.  That  road  passes  through  a  productive  coun- 
try, tapping  the  Roanoke  River  at  a  valuable  point,  and 
if  r»  built  will  add  largely  to  the  business  of  your  Road 
from  a  section  now  lost  to  us.  We  recommend  the  enter- 
prise to  such  aid  and  encouragement  as  you  may  be  in 
condition  to  bestow. 

Upon  an  examination  of  the  accompanying  reports, 
the  Stockholders  will  discover  that  notwithstanding  the 
heavy  losses  sustained  by  this  Com  pan}'  in  the  loss  of 
business  from  the  North  Carolina  Railway,  the  high  water 
on  the  Cape  Fear,  and  the  financial  embarrassments  of 
the  country,  followed  by  general  depression  of  all  busi- 
ness, that  your  Company'  makes  a  most  flattering  exhibit, 
which  must  convince  you  and  the  country  at  large  of  its 
ability  at  any  and  all  times,  and  under  almost  any  cir- 
cumstances to  promptly  meet  all  demands  upon  it, 
and  especially  to  pay  promptly  the  interest  upon  its 
bonds.  Few  railways  in  this  country  can  make  so  satis- 
factory an  exhibit,  and  show  so  bright  a  future  as  your 
own. 

By  reference  to  the  report  of  the  Treasurer  you  will 
note  that  we  have  paid  for  and  received  from  the  Ral- 
eigh &  Augusta  Air-Line  Railway  Company,  three  thou- 
sand three  hundred  shares  of  their  guaranteed  eight  per 
cent,  stock  at  par,  and  have  sold  two  hundred  and  twenty 
thousand  dollars  ($220,000)  of  our  first  mortgage  bonds 
at  par  and  interest,  since  which  time  additional  sales  have 
been  made  upon  the  same  terms.  If  the  business  on  the 
Raleigh  &  Augusta  Air-Line  Company  shall  meet  our 
expectations  the  interest  on  the  guaranteed  stock  of  that 


president's  report.  IX 

road  will  offset  and  pay  the  interest  on  our  mortgage 
bonds. 

On  the  7th  of  April  last  it  pleased  an  Allwise  Provi- 
dence to  remove  by  death  our  attentive  and  intelligent 
Master  Mechanic,  Mr.  Judson  B.  Gayle,  who  was  a  most 
valuable  officer  and  superior  mechanic.  At  a  meeting 
of  your  Board,  held  on  the  13th  of  May,  the  vacancy  was 
filled  by  the  appointment  of  Mr.  Bernard  R.  Harding,  a 
gentleman  of  intelligence,  and  highly  qualified  to  dis- 
charge the  duties  of  the  office. 

In  conclusion  we  refer  you  to  the  accompanying  re- 
ports of  the  Superintendent,  Treasurer  and  Auditor  with 
the  tables  annexed  for  the  financial  condition  of  the 
Company,  general  condition  of  the  Road,  equipment  and 
the  business  generaly  of  the  sevei  al  departments  in  de- 
tail. 

Respectfully  submitted  by  order  of  the  Board. 

W.  J.  HAWKINS, 

President. 


SUPERINTENDENT'S  REPORT. 


Raleigh  &  Gaston  Railroad  Company, 

Superinteridenfs  Offixie, 
Raleigh,  N.  C,  June  29tb,  1874. 

Dr.  W.  J.  Hawkins,  President  R.  &  G.  R.  R.: 

Sir: — The  following  report  and  statements  show  the 

operations  of  the  Road  for  the  year  ending  May   31st, 

1874: 

The  earnings  have  been  as  follows : 

From  Freights ^187,320  09 

"       Passengers 79,679  56 

"       Mails 7,275  00 

"       Sundries 527  81 


Total $274,803  36 

The  operating  and  other  ex- 
penses were  for  conducting 
Transportation $62,720  54 

Maintenance  of  Way 48,473  19 

Maintenance  of  Motive    Power 

and  Cars 47,482  53 

Miscellaneous  and  other  expen- 
ses as  per  Treasurer's  Report,     33,822  73 


Total  operating  and  other  expenses $192,508  99 

Leaving  a  balance  of  $82,294.37  over  operating  and  other 
expenses. 


superintendent's  report.  13 

For  a  detailed  statement  as  to  tonnage,  milage,  &c.,  I 
refer  3'ou  to  the  Auditor's  and  General  Ticket  Agent's 
tables. 

By  comparing  the  year's  operations  with  the  preceding 
year  we  find  that  our  receipts  have  fallen  off  $92,089.58. 
This  is  attributable  wholly  to  the  loss  of  almost  the 
entire  business  of  the  North  Carolina  Road,  both  passen- 
ger and  freights.  Formerly  we  enjo3^ed  a  large  share  of 
the  business  of  that  road,  under  a  contract  with  the 
North  Carolina  Railroad  Company,  which  expired  in 
August  last.  Since  the  expiration  of  said  contract  the 
lessees,  the  Richmond  &  Danville  Railroad,  have  deemed 
it  to  their  interest  to  send  all  passengers  and  freights  via 
Danville. 

The  shops  and  tools  are  in  excellent  condition.  The 
stationary  engine  in  the  Carpenter  Shop  was  found  to  be 
unfit  for  service,  the  boiler  becoming  unsafe,  was  con- 
demned and  taken  out,  and  replaced  with  a  Baxter 
Engine  (largest  size).  We  have  now  nearly  completed 
two  (2)  first-class  coaches,  that  will  compare  favorably 
with  any  coaches  made  by  the  best  makers  North,  and 
built  at  less  cost;  one  other  getting  ready  to  be  built. 
The  three  new  passenger  coaches,  with  three  new  baggage 
cars  to  be  built,  the  repairing,  painting  and  altering 
of  the  cars  now  in  use  will  be  sufficient  for  the  present 
to  do  our  passenger  business.  We  have  built  fifteen  ten 
(10)  ton  ventilated  box  cars.  We  are  building  them  all 
ten  ton  and  ventilated.  We  find  them  for  all  purposes 
far  superior  to  any  others.  The  cars  we  are  now  build- 
ing are  the  best  to  be  found  in  the  countr3^  Also,  built 
two  (2)  flat  and  seven  (7)  hand  cars  for  Road  Department. 

Our  Car  equipment  now  consists  of 

5  first-class  Coaches,  old  style. 

6  second-class  Coaches,  old  style. 


14  superintendent's  report. 


3  Freight  Conductors'  Cars. 

3  Baggage,  Express  and  Mail  Cars. 

88  Box  Cars. 

40  Flat  Cars. 

10  Gravel  Cars. 

Our  Locomotive  equipment  consists  of  13  Engines — 9 
of  them  are  in  first-class  condition,  one  in  Shops  re- 
building and  3  rather  small  for  our  present  business — 
they  are  used  for  hauling  light  trains  and  doing  extra 
work  in  cases  of  emergency. 

The  road-way  is  in  very  fine  condition,  considering 
the  number  of  short  rails  in  the  track,  which  causes  the 
Road  to  be  rough  though  perfectly  safe.  We  still  have 
some  forty-five  (45)  miles  of  old  rails,  which  have  been 
in  use  over  twenty-two  years.  I  would  advise  the  pur- 
chase of  1,000  tons  of  rails  at  once,  to  be  delivered  at  an 
early  day,  that  the  same  ma}'  be  placed  in  the  track 
before  the  1st  of  November  next.  This  additional  quan- 
tity of  rails  will  greatly  improve  the  condition  of  the 
track  for  the  next  twelve  months.  We  have  used  this 
year  in  repairs  of  track  1,000  tons  of  (T)  Rails,  Fish- 
plate joint,  and  33,359  cross-ties,  using  the  best  of  the 
old  rails  to  supply  the  places  of  others  more  worn. 

The  track  from  Weldon  to  Gaston  was  originally  laid 
square  joints  without  chairs,  which  niade  a  very  rough 
and  hard  road  to  keep  up.  We  have  gradually  changed 
this  and  put  chairs  under  the  whole,  greatly  improving 
the  track  between  the  points  named.  The  culverts,  with 
but  few  exceptions,  need  but  little  attention. 

The  bridges  are  all  good — Crabtree,  a  lattice  bridge, 
built  at  the  time  the  Road  was  constructed,  is  being 
replaced  with  a  Howe  Truss.  The  timber  all  on  the 
ground,  and  the  bridge  now  being  framed  b}^  D.  M.  Renno, 
will  soon  be  in  its  place.     We  have  one  other  lattice 


superintendent's  report.  15 


bridge  on  the  Road,  "Neuse,"  which  will  be  replaced 
with  a  Howe  Truss  whenever  it  becomes  necessary  to 
take  it  down. 

The  depots  and  buildings  are  in  excellent  condition. 
We  have  built  a  warehouse  at  Youngsville,  formerly 
called  Pacific,  a  water  station.  The  one  at  Forestville 
has  been  moved  to  Wake  Forest  College  by  the  Trustees 
of  that  institution,  by  the  consent  of  the  Company  and 
put  in  good  condition,  and  all  the  other  buildings  that 
needed  repairs. 

The  trains  have  been  run  with  the  greatest  regularity; 
no  accident  causing  the  loss  of  life  or  limb  to  any  pas- 
senger or  damage  to  the  property  of  the  Company  worthy 
of  notice  has  occured. 

It  is  gratifying  to  report  that  the  employees  of  every 
grade,  faithful  to  the  interests  of  the  Company,  have 
cheerfully  discharged  their  duties  in  their  several  posi- 
tions, and  to  them  is  due  much  of  the  success  of  this 
year's  operations. 

RespectfuUv  submitted, 

A.  B.  ANDREWS, 

Superintendent. 


TREASURER'S  REPORT. 


No.  1 — Shows  the  earnings  of  Road  for  fiscal  year  end- 
ing May  31,  1874. 

No.  2 — Shows  the  transportation  expenditures  for  year 
ending  May  31,  1874. 

No.  3 — Annual  statement  of  receipts  and  expenditures 
for  year  ending  May  31, 1874. 

No.  4 — Resources  and  liabilities  of  Company,  May  31, 
1874. 

No.  5 — Auditor's  statement  of  the  monthly  earnings  of 
Road  at  the  several  stations  for  the  fiscal  year  ending 
May  31,  1874. 

No.  6 — Auditor's  statement  of  earnings  for  the  year 
ending  May  31,  1874,  compared  with  year  1873. 

No.  7 — Auditor's  statement  of  tonnage  and  miles  at 
each  station,  North  and  South,  for  the  year  ending  May 
31,  1874. 

No.  8 — Statement  of  General  Passenger  and  Ticket 
Agent  for  the  year  ending  May  31,  1874. 

W.  W.  VASS, 

Treasurer. 
Office  Raleigh  &  Gaston  R.  R.  Co., 

July,  1874. 


» 

treasurer's 

REPORT.                                       17 

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TREASURER  S    REPORT. 


No.  2. 

Transportation  Expenditures    of  the  Ealeigh    &    Gaston 
Railroad  Company  from  June  1,  1873  to  May  31,  1874. 


Conducting  Transportation  : 

Embracing  cost  of  conductors  and  train  Liands;  engine  run- 
rier.s,  firemen,  wipers  <vc  ;  clerli  and  labor  at  tlie  depots;  stock 
killed;  losses  ana  damages;  fuel;  overcharge,  and  miscella- 
neo'is, 


Maintenancp:  of  Way  : 

Embracing  cost  of  superintendence;  labor— roadway ;  sub 
sistence;  repairs,  bridges  and  culverts;  ties,  repairs,  build- 
ings, tools,  tanks,  and  miscellaneous 

Machinery  Department  : 

Embracing  cost  lepairs  of  engines;  construction  and  repairs 
cars  and  coaches,  including  material,  oil  and  tallow;  and 
misceiianeous 


Misckllaneous  : 

Salaries  of  Officers:  President,  Superintendent,  Treasurer  and 
Secretary,  and  Auditor, 

Incidental  Expenses— printing-,  advertising,  stationery,  pos- 
tage stamps  and  miscellaneous, 

Office  E.xpenses— telegraph  operator  in  part,  office  boy,  light 
and  niiscelki  neons '. 

Mileage  paid  other  roads, 


Total  operating  and  ordinary  expenses, 

For  Crab  Tree  Bridge, 

For  Equipment, 

For  Telegraph  Poles 

For  Agencies, 

For  Insurance  on  Bridges, 

For  rJorth  Carolina  State  P'air, 

For  Drawbacks 

For  Attorneys  fee-;  and  Court  cost, 

For  G-rad  ng  West  street  Survey  of  Road,  etc., 

Total 


$    62,720  54 


48,W3  19 


•17,482  5a 


11, .500  00 

3,471  18 

791  4^ 

1,437  41 

S  175,hSG  2.S 

1,500  00 

1,(323  97 

1,703  75 

3,400  24 

243  92 

397  45 

4,690  92 

1,165  20 

1,897  26 

$  192,508  99 


TREASURER  S    REPORT. 


19 


No.  3. 

Annual  Statement  Raleigh  &  G-aston  Railroad  Oonmpany, 
from  June  1,  1873  to  May  31,  1874,  inclusive. 


Karnings  from  freight,  passengers  and  mail,. 
Miscellaneous  receipts 


Total 1 

EXRENDITURES  : 

Operating  and  ordinarj',  Si75,RR6  2S 

Otherthan  operating  and  ordinary '     ]t)|622  7ll 

Excess  of  earnings  over  ordinary  expenses, - 


5  27f 


27o  55 
527  81 


$271,S03  36 


192,508  99 
82,294  37 


Amount  balance  from  lastflsoal  year, «!11.^  117  .531 

Net  sales  220  Mortgage  Bonds 217'o.S(>  21 

Appropriated  m  Mortgage  B.inds  at  par, '.'..'..'.'.'.'.'."'.'.'..'.'    8o'oO(i  Ool 

Interest  receive  !  on  Guaranteed  8tock, 13,800  00      424 


Amount,. 


Paid  for  iron  Rail S  .50  SIO  36' 

Paid  for  Guaranteed  .Stock  in  Raleigh  &  Augusta  Air-        '  I 

Line  Railroad,  3,300  shares  at  par, 330  000  OOj 

Paid  interest  on  first  loan, 2  820  00 

00 
00 


506, 


003  77 
,298  14 


Paid  interest  on  Mortgage  Bonds, '.'..".'...'.'.'....' .    13i800 

Sinking  Fund  increased, 1,000 


Balance  on  hand  May  31,  1874. 

Balances : 


Cash  in  Banks,  S44,^01  .57 

United  States  Bonds— cost, 18',000  00 

Invested  on  call 26724  '22> 

Agents  at  Stations, 19,'215  99i 

Bills  Receiviibie 3*851  5.3l 

Townsend,  Wheien  &  Co ............!..........!......!       '51J0  Zil 

Seaboard  Inland  Air-Lme, 2  106  95; 

Post-ortice  Department, '279  75 

J.  M.  Pool,  Auditor '       4y7  47 

Thomas  Badger.  General  Ticket  Agent, .500  00 

Checks, 327  48 

United  States  for  freight 647  99 

City  of  Raleigh, "..'        569  1.5 

J.  M.  McCarrick,  Trace  Agent, 300  00 

Ticket  account, 2.38  50 


Deduct  due  other  Companies, S9,484  05 

Hawkins,  Co 1,000  00 

Dividends  not  called  for, 311  OO 


5118,662  83 


398,430  36 


$  107,807  78 


,795  05  3  107,867  78 


W.   W.   VASS,  TKEA.SURER. 


20 


TREASURER  S    REPORT. 


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July, 

August,           " 
September,     " 
October,           " 
November,     ■' 
Dec«=mber,       " 
January,        1874, 
February,       " 
March,              " 
April, 
May,                  " 

North  Carolina  State  Lioranf. 

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69  35 
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79  30 
135  40 
57  05 

71  00 

72  85 
32  85 
32  80 
52  60 
22  85 

'3 

$     145  67 
283  71 
304  88 
219  83 
504  70 
556  06 
448  29 
352  67 
200  37 
383  83 
265  89 
155  10 

8 

1 

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2 

3 

$         411  10 
242  95 
858  50 
326  35 
632  35 
195  10 
389  60 
267  95 
227  90 
177  55 
145  70 
152  90 

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bn 
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S     336  57 
320  78 
442  95 
501  12 
668  68 
652  33 
760  27 
791  51 

578  69 

579  43 
606  13 
247  95 

5 

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June,  1873, 

July, 

August, 

September, 

October, 

November, 

December, 

January,  1874 

February, 

March, 

April, 

May, 

24 


AUDITOR  S    REPORT. 


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26 


AUDITOE,  S    REPORT. 


No.  7. 

Statement  of  Tonnage  and  Miles   at  each  Station,  North 
and  South,  during  the  Fiscal  Year  ending  May  31,  1874. 


NORTH. 

SOUTH. 

STATIONS. 

TONS. 

MILES. 

TONS. 

MILES. 

Raleigh, 

819 

31,096 

Neuse, 

2(i9 

21,840 

218 

2,179 

Wake, 

391 

29,301 

131 

2.150 

YomiKSville, 

230 

4,908 

155 

2,300 

Franklinton, 

1,509 

110,799 

219 

6,810 

KittrelLs, 

2:'.0 

14,169 

73 

2,699 

Henderson, 

1,707 

93,163 

301 

11..535 

Junction, 

494 

22,930 

172 

11,901 

Ridgeway, 

027 

26,016 

264 

14,283 

Warren  ton, 

553 

21,405 

55 

2,522 

Macon, 

483 

15,489 

41 

1,589 

Littleton, 

826 

17,385 

27 

1,902 

Gaston, 

248 

2,937 

49 

3,371 

Weldon, 

11,728 

709,264 

Total  Local, 

8,512 

411, .348 

13,4;i3 

772,.505 

Through  Tons, 

12,265 

1,226,500 

23,419 

2,315,886 

Total  Through  and  Local, 

20.777 

1,687,848 

36,852 

3,088,391 

GENERAL    TICKET    AGENT  S    REPORT. 


27 


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152,707 
157,199 
220,500 
150,951 
415,311 
130,247 
182,441 
125,420 
107,307 
144,980 
127,458 
304,984 

1 

S 

4,035 
4,483 
5,623 
3,772 
11,535 
3,087 
4,883 
8,695 
2,886 
3,669 
3,113 
7  302 

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0,205  25 
4,533  35 

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4,689  40 
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198,500 
100.451 
371,011 
90,747 
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94,480 

79,168 

256,784 

1 

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3,608 
4,088 
5,343 
3,207 
11,098 
2,692 
4,478 
3,493 
2,036 
3,104 
2,630 
6,820 

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1,611  13 
1,174  10 
2,203  13 
1,050  80 
1,037  80 
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832  97 
1,001  70 
2,356  71 
2,360  61 
2,350  06 

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June,                 1S73, 
July, 

August,               " 
September,        " 
October,               " 
November,         " 
Decrmber, 
Jaiuuiry,           1874, 
Febiuary           " 
March,                 " 
April,                   " 
May,                     " 

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PAMPHLET  BINDER 

..  Syracuse,  N.  Y. 

Stockton,  Colif. 


^J.^.^.^L'BRARY  OF  NORTH  CAROLINA 


3  3091  00738  9398 


■#^