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-.i .im ? _ HIM ma_ Charlotte and South Carolina Railroad Company. PRESIDENT'S REPORT. 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. Wrenshall. 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 road. 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. Respectfully submitted, WM. JOHNSTON, President. STJPERINTENDENTS REPORT. To the President and Directors of the Charlotte and South Carolina Railroad Company. 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 -$189,384 93 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 -$392,807 16 $203,422 23 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 this supply. CALEB BOPKNIOHT, Treasurer, in account current with I DIL 1866. 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 payable-new' Bonds. 99,000 00 Bonds receivable - sold. 4,940 02 Fractional Bonds... 4,553 76 Property account... 24,610 97 Confederate account suspended. 2,445 60 W. C. Bee Jt Co. 4,116 94 475,525 01 _ ?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. Ca. I860. Tan. 1.-By cash balance from 1865 85,58,8 60 Dee. 31.-By operating expenses as follows, viz: Maintenance of Way.. $52,885 47 Conducting transpor? 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 Confederate account) suspended. 2,529 61 Wilmington, Charlotte: & Rutherford R. R..? John M. White ? Co.. Through Passenger 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 1,002 53 3,538 72 ,8748,601 57 C. BO?KNIOHT, Treasurer