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Proceedings and Documents of the House, 1858
Volume 665, Page 1119   View pdf image
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per cent, and making the nett revenue $1,856,213.81, from which
the company declared a dividend of 6 per cent on the capital stock
amounting to $606,579, after paying interest upon its bonds and
other charges. The company has invested the past year in per-
fecting and increasing the capacity of the road $1,275,144.38.

The revenues from the Washington Branch Road, the past fiscal
year were $454,459.84; its expenses were $196,080.25, and its
nett revenues were $258,379.19.

The revenue from the North Western Virginia Rail Road, con-
stituting its Parkersburg Branch, for the three months ending the
fiscal year were $74,223.37; its expenses were $48,072.60, and
its nett revenue was $26,150.97. The aggregate revenue of the
Main Stem and Branches for the time above mentioned, was $5,-
145,682.36.

It appears that the "through" and "local" freights of the road,
transported westwardly from Baltimore for the past year, amounted
to 133,210 tons. The amount of "way" and "through" freight re-
ceived at Baltimore the past year, amounted to 646,875 tons, of
which 490,000 tons were coal, and 58,431 tons were from points
beyond Wheeling. The amount of local and through travel on
the Main Stem the past year, was equivalent to carrying 36,286,-
823 passengers one mile, and 1,114,8200 on the Washington Branch,
and 878,240 on the Parkersburg Branch The company last De-
cember declared an extra dividend of 30 per cent in scrip bearing
six per cent interest, to be converted into stock. This dividend did
not meet the approval of a majority of the Directors on the part
of the State, and the payment of this interest was restrained by le-
gal process, and its legality is now awaiting the decision of the
courts.

The company has failed to declare a dividend for the six months
ending 1st October, 1857. This it is said was occasioned by no
falling off in the receipts of the road, but adopted as a precautiona-
ry measure in consequence of the pecuniary difficulties of the
times. Notwithstanding which, the future prospects of the road,
are announced to be of the most promising character, its southern
locality and connections, and the cheapness of fuel, giving it great
advantages over its more northern competitors.

The Northern Central Rail Road Company.—This company
has paid with punctuality its annuity of $90,000, representing the
State's interest of $1,500,000 in this work, and no doubt exists of
its ability to continue its prompt payments in future. The comple-
tion of the road to Sunbury, and its connection with Tide-water at
Canton, have been pushed forward with an energy and ability,
proportioned to the resources of the company. From the last an-
nual report of the President, and from, information subsequently
obtained from him, it appears that of the sixty miles reported to be
under construction in 1856, twenty-eight miles were opened for
transportation in December of that year, and an additional fifteen

7

 

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Proceedings and Documents of the House, 1858
Volume 665, Page 1119   View pdf image
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