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Charlotte and South Carolina Railroad Company.
To thc. Stockholder* of the Charlotte ana' South Carolina Railroad Co. I
GENTLEMEN : The 31st of December last terminated the nineteenth
fiscal year of your corporate existence. Thc Annual Reports, there-1
fore, embrace the operations of the twelve months preceding that
date. On tho first of January, 18(50, the reconstruction of the road
had not reached Ridgeway. The work was, however, pressed with
reasonable energy, and closed up about the first of May following;
so that trains could run through. The entire cost of reconstruction
amounts to $239,163.99, besides veiw large expenditures which had
to be made upon that portion of the track not destroyed, and upon
the engines and cars to put them in proper condition.
Tlie gross receipts from transportation amount to $189,384.98.
Of this sum a very large proportion was applied to defray expenses,
many of which were unusual, in restoring the property to its proper
condition; the balance was applied to reconstruction. The earnings
amount to nearly two-thirds the average annual receipts before thc
war. With only a portion of the road in operation during the best
season of the year for freights, and a large proportion of the receipts
paid for wagon transportation, with one-half the country on the
entire line made desolate the year previous by war, and with a
signal failure of the crops from Charlotte to Columbia, a larger
income was not anticipated. To these causes may be added the
increased energy and cheaper transportation of the roads from
Charlotte via Portsmouth to New York, which have diverted tho
larger portion of tho freights of North Carolina by that route,
which fornierl}' found their outlet over your road to and through
Charleston. "With an average crop produced in North Carolina, its
com, wheat, flour, tobacco and other products will naturally lind
their markets in tho cotton regions.
The funded debt of the Company was reduced, on the first of
January, 1802, to $321,000, by the gradual redemption of its bonds.
During the years 1802 and 1803, the additional sum of $47,500 of
this amount was paid, leaving a debt of $273,500 on the first of
January, 1863. The interest accumulated upon these bonds to
April 1, 18G7, with that on the bonds redeemed, amounts to
$89,307.65, less the interest on the bonds funded from April to July
next. This makes tho entire amount of principal and interest of
bond debt $362,807.65 on tho first April, 1867. Of this amount,
$110,000 have been issued in redemption of past due bonds and
ooupons; also, $5,300.15 in fractional bonds; leaving less than
$90,000_of past duo bonds and coupons outstanding.
The bills payable amount to $158,810.38 on the first of April,
1867; which, added to the bond debt of $362,807.65, make the
entire debts $521,624.03. There are important accounts now
existing between this Company and tho Atlantic, Tennessee and
Ohio and the Wilmington, Charlotte and Rutherford Railroad
Companies. They are, however, subject to future adjustment, and
the results cannot now be given with accuracy.
In order to complete the road, a passenger depot will be required
in each of the cities of Columbia and Charlotte; a substantial brick
building in the former for offices, and a warehouse at Blackstocks.
With a superior iron bridge across the Catawba, a new foundry,
eidarged shops, containing a new engine and improved machinery,
the capacity for economical work is greater than it over has been.
Your shops are now equal to any in this portion of the South, and
for their plan and construction you arc indebted to the Superinten?
dent. The credit for the superior style and execution of the work
on the Catawba Bridge, is due to that accomplished Civil Engineer,
Capt. C. Shaler Smith, and his skillful raul scientific assistant, Capt.
Experience has demonstrated, that the more permanent ami
substantial railroads, with their appurtenances, are constructed, the
greater the economy in their subsequent use. This principle has
governed your Directors in the reconstruction of the road. Your
attention is invited to the reports of the Superintendent and
Treasurer for more detailed statements of the material and financial
condition of the Company.
You are interested in the reconstruction of the Atlantic, Tennes?
see and Ohio Railroad, as a stockholder and a bond-holder. When
rebuilt, it is destined to contribute materially to the future business
of your road. With a large amount of indebtedness due for its
property, its stockholders have been unable to move in its recon?
struction for the want of present means to begin with. As a
Committee appointed by that Company recommend a consolidation
with your Company upon such terms as may be agreed upon, it is
recommended that you appoint a Committee, with full powers, or
confer upon your Board of Directors the authority ti) conduct the
negotiations to final results.
It is gratifying to state that, notwithstanding the embarrassed
financial condition of the country, and the decided opposition to the
construction of the Columbia and Augusta Road from one quarter,
it has steadily progressed. Since your last meeting, the cities of
Columbia and Augusta and the State of South Carolina have libe?
rally lent their support to the construction of this important road.
Its graduation and masonry from Columbia to (Iraniteville are
nearly completed, and the rails for more than half this distance are
contracted for, and a portion expected to arrive in the month of
May. The completion of no road can be more important to yours
than this. You are already interested in it as a stockholder. Like
all other new roads, and especially in these times of financiul
embarrassments, it requires all the aid and co-operation its friends
can bring to its support. It is recommended that you extend to it
such aid, by the endorsement of its bonds to a limited extent, or
otherwise, as in your judgment you may deem best. Tho first
mortgage bonds of that Company, endorsed by this corporation,
ought to command as high credit as any security in the State, and
would contribute materially to the more speedy completion of that
Trains have run with remarkable regularity, and with compara?
tively small loss ami damage in transportation during the year.
The officers, agents and employees are generally commended for
their fidelity ami devotion to tho interest of the Company.
WM. JOHNSTON, President.
To the President and Directors of the Charlotte and South Carolina
GENTLKMEN: I submit to you the following report of the working
of this road for the year ending December 31, 1866 :
The earnings and expenses have been UH follows:
Earnings from freights.$89,579 49
" passengers. 82,907 52
" mails. 4,922 21
Government transportation. 8,887 82
Express. 8,637 89
The working and other expenses have been:
For Maintenance of Way.$52,885 47
" Cars. 16,537 30
" Machine Shops. 23,087 411
Conducting transportation. 29,198 93
Motive power. 29,926 48
Loss and damage. 1,432 23
Rebuilding ROSA!. 76,994 22
Bridge over Catawba River. 53,310 72
Building New Shops and Machinery. 43,566 67
Errors and deductions.? 575 33
Cost of New Iron. 65,292 88
Leaving a debt of $203,422 23 against the road.
It will be recollected, that on the 1st of January last, the road
was rebuilt to near Ridgeway. The work from that place was con?
tinued with increased force. Meanwhile, the completion of tho
Columbia branch of the South Carolina Road opened our connec?
tion with Charleston, where our supply of new material had been
awaiting transportation for seveml months. As soon as this came
to hand, a second force was put to work at Columbia, the timber
having been previously delivered on the line. The work was pushed
forward with the utmost despatch, the two working parties meeting
at, Killian's on the 1st of May. The completion of the bridge across
the Catawba River, at the same time, opened tho entire line from
Charlotte to Columbia.
In order to make our through connections with the least possible i
delay, portions of the work were left in an unfinished condition.
To remedy this, a heavy force was kept at work on the different
sections most of the year. The extra expense of this, with the ad- j
ditional cost of removing and laying with our own iron about six j
miles, which was laid between Blackstock and Yongue's by the Con- !
federate authorities, (with iron which had been taken from the
King's Mountain Railroad,) has been charged to maintenance of j
way, which properly belongs to reconstruction.
Tho old portion of the track has also been heavily repaired.
41,392 new cross-ties and 11,100 Hew stringers have been put in at
various places. Gilmore's Trestle has been entirely renewed, and
five new turn-tables erected on the road * and in the yard at Colum?
bia. New water tanks have been pnt up at Seven Mile Pump, one
at Chester, double frames and tanks at Blackstocks, Robinson's, Doko,
Ridgeway and Columbia. 'New pumps were put in at Seven Mile
Tank and Doko. The balance have been repaired. The supply of
water has generally been sufficient, but in view of an increase of
business, the double tanks ought to be put up as soon as convenient.
The lumber for these is now in the yard at Columbia.
After the opening of the line to Columbia, a ditching force was
put to work, which was continued until all the most important parts
of the road were thoroughly ditched, and put in good order for the
winter. An abundant supply of ?ngine wood has been got out dur?
ing the year. There is now over 2,000 cords of good wood on the
line, and contracts have been made with various parties to kee]) up
CALEB BOPKNIOHT, Treasurer, in account current with I
Dec. 31.-To this amount col'cted,
from former balances' '8 3,610 60
Earnings as follows:
From Freights.... $154,359 IS
Passengers.. 98,208 91
Express. 8,637 89
United States 8,337 82
Mails. 4,922 21 j 269.465 96
Minor sources income 3,439 08
Interest account. 4,220 28
Stock dividend. 863 17
Atlantic, Tennessee &,
Ohio Railroad... j 28,262 12
Discount account_ 9,133 60
Bill? payable.; 289,939 47
Bonds. 99,000 00
Bonds receivable -
sold. 4,940 02
Fractional Bonds... 4,553 76
Property account... 24,610 97
suspended. 2,445 60
W. C. Bee Jt Co. 4,116 94
_ ?748,601 67;
COLUMBIA. S. C.. Juunary 1, 1867.
Tlie success of om* operations timing the past year is the best
I evidence of the sound condition of the track. No serious accident
whatever has happened to any of our trains, the connections having
been made with the greatest regularity. New warehouses have been
erected at Columbia and Ridgeway, and one at Winnflboro nearly
completed. Two new country bridges have been built on sections
ten and eleven, to take the place of the old ones, which wore unsafe.
New work-shops have been erected at Columbia, of which the follow?
ing are the principle dimensions: Machine shop, 14(5 feet long and
42 feet wide; blacksmith shop, (50x42 feet, containing eight forges;
foundry, 60x42 feet; car shop, 100 feet by 50 feet, and two stories
high; engine and boiler, fire-proof oil cellar, and a round house,
with tracks to hold twelve engines. The shops have been furnished
with new and improved machinery, adapted to the various purposes
of the road. It consists of an improved horizontal steam engine ot'
forty horse power, with over 300 feet of shafting and all the neces?
sary pullies, hangers and belting. The wood department is fur?
nished with one Daniels' Planer, with fifty foot table; one Wood?
worth Planer, with tongueing and grooving attachment; also,
machines for morticing, tenoning and -moulding; one scroll saw,
one cut-oft* saw aud two rip saws. The only addition made to the
machine shop tools is one hydraulic wheel press and a compound
planer. The old steam hammer in the blacksmith shop has been
repaired, and answers a good purpose. A fan blast for the forges
has also been put in, and all the other necessary fixtures. The
foundry has been furnished with all necessary appliances for casting
iron or brass, and a large crane for heavy lifting is now under con?
struction, which will be completed in a short time.
All the new buildings are erected of briek, in a substantial man?
ner, and the roofs covered with tin, as a security against fire. Three
hundred lineal yards of brick arched culverts have been put under
ground in the yard, for tho purpose of carrying the water from the
roofs of the buildings, and draining the yard anti turn-table pits.
New water pipes have also been laid in connection with those of tho
city water works, furnishing water for our shops and engines.
Hydrants are connected at suitable places, so that by attaching ti
hose to either of them, water can be conveyed over the roof of any
building in the yard, thus affording a great security against fire.
The yard has been enclosed with a good substantial fence, which
gives security to the property.
During the past year the rolling- stock has been found sufficient
for our business, but owing to want of sufficient convenience during
? the building of the road and from previous hard service, it will re?
quire a considerable expenditure the coming year to make the addi?
tion to it that will be necessary. A supply of lumber is provided
! to build forty new cars of various kinds, and with our improved
facilities for doing such work, they can be turned out as fast as they
will be required during the coming summer, and at a moderate cost.
Most of tho old cars have been rebuilt, and one new passenger
coach purchased from Messrs. Cummings & Son, of Jersey City. One
first-class coach is now under construction in our shops, and will be
completed soon. In connection with this department, I would re?
commend the building of an erecting shop for car work, as soon SH
possible. A suitable building for this purpose would cost the com?
pany about $4,000. It is much needed, and would facilit?t ti the
work very much.
Five of the locomotives will require heavy repairs; the balance
are in good condition.
I am pleased to report that during the past year the employees
generally have discharged their various duties cheerfully and
promptly. The comparatively small loss and damage account is
the best evidence of their fidelity to the interests of the Company.
Respectfully sui Knitted.
JAMES ANDERSON, Superintendent.
he Charlotte anti South ('timiina Railroad Company.
Tan. 1.-By cash balance from 1865 85,58,8 60
Dee. 31.-By operating expenses as
Maintenance of Way.. $52,885 47
tation. 29,198 93
Motive Power.! 29,926 48
Maintenance of Cars.. 16,537 30
Machino Shops.; 23,087 451
Loss and Damage.... 1,432 23
Errors and Deductions; 575 33
Reconstruction of road: 76,994 22
New Shops. 43.5G6 67
Catawba Bridge.; 53,310 72
New Iron. 65,292 38 392.807 16
Bills payaLie.! 125,463 46
Fractional Bonds. 315 00
Interest on Bonds_ 38,359 35
Bonds payable - r c -
deemed. 17,000 00
Bonds receivable. 4,184 25
Interest account.: 15,838 88
Property account. 4,500 00
Real Estate. 5,000 00
Discount account. 2,573 38
suspended. 2,529 61
& Rutherford R. R..?
John M. White ? Co..
lino. 131 25
Tax account. -19 45
Atlantic, Tennessee A.?
Ohio Railroad. 30 00
Columbia A Hamburg
Railroad. 15 00
This nmountpaid other
Roads on account of
their proportions of
freight and ticket
exchanges. 75,080 93 825,611 HI
This amount duo by
Agents. 3,079 30
Southern ExpresH Co. 695 77
National " " 881 27
United States. 4,915 46'
Ot her Roads on through
ticket account. 1,307 Ol 10.87M 84
Cash in Treasury. 1.>,7I5 07
C. BO?KNIOHT, Treasurer