Trans. His.Coll. HE 151 .A. 15 no.210 Fayetteville and Western Plank Road Company. The fifth annual report of the president and directors of the Fayetteville and Western Plank Road Company to the stockholders, April 13, 1854. Raleigh [N.C.] : W. W. Holden, Printer to the State, 1855. = i # ji= : = Ac. Doc. No. 111 sº. Isº-sº REPORT ſmºſitille & ºthitti plank #m ſmip'º. TO THE ST00KHOLDERS, RALEIGH: w. W. Holden, PRINTER TO THE STATE 1855. REPORT. THE FIFTH ANNUAL REPORT OF THE PRESI- DENT AND DIRECTORS OF THE FAYETTE- WILLE AND WESTERN PLANK ROAD COMPA- NY TO THE STOCKHOLDERS, APRIL 13, 1854. The capital stock of the company consists of 5064 shares, par value $253,200. The sum of $241,294 80-100 has been paid, and there is nowl due $11,905 20-100, of which about $3,130 50-100 is due at Fayetteville, and the balance at Salem and other points; the amount is secured and in no case is a certificate of stock issued or dividends paid, until the requisitions of the company for payments are met. - The amount paid into the treasury of the company, is accounted for in the statements marked A., which makes a part of this report, and which has been with the list of balances due, certified as correct. On the first day of October 1853, the gross tolls for the six months amounted to $11,451 3-100; after charging off the salaries of the toll collectors, a dividend of 4 per cent. was made and 1,145 03-100 carried to the fund to rebuild. The gross tolls for the six months, ending March 31 1854, will be about as follows: In the statement (A.,) $14,484 81 In hands of toll collectors, 1,127 22 Balance due, 406 68 $15,968 71 4 From this amount, after deducting salaries of toll col- lectors for six months, and repairs of road, and the divi- dend of 4 per cent., amounting to $10,128, the amount of $2,840 74-100 will be carried to the fund to rebuild. The fund to rebuild will thus be increased in the past year, $3,985 77-100, and will make the total amount of that fund, $6,890 90-100. - The number of miles of road under toll on the main line to Salem, 120 miles. From the 33 mile post to the gulf, 16 “ From the fork of gulf road to Ennis' mills, 4 “ - Total, 140 The gross tolls for the year ending March 31, 1853, $17,398 66 For the year ending March 31, 1854, 27,419 77 Showing an increase for the year of more than 10,000 00 ... Beyond Salem, a little more than seven miles of plank have been laid, but the road is not finished; much gra- ding is required on that line, and also on the line for the greater part of twenty miles this side of Salem. A substantial bridge has been erected across Muddy creek at Salem, and arrangements have been made with the county of Forsyth for the use of the bridge, by the citizens of that county. In constructing the road and the new bridge, the old bridge was rendered useless, and has been carried off by the freshets, which have been unusually high and numer- ous the past year. - This company own the bridge at the Gulf, for which they have paid $750 00 in the stock of the company; it has been repaired at some expense, and tolls charged independent of the road. The Gulf and Graham Road begins at the bridge. Complaints are made as to the toll; arrangements should be made as soon as the toll collector is settled at the Gulf for a through ticket, to include the bridge and road. One of the steam mills belonging to the company has 5 been sold for $1,500; the company own two, both in operation on the line above Salem. r The Fayetteville and Western Plankroad now beyond Salem, should be extended to or near the road called the “Hollow Road,” and then stop. A resolution should be adopted, and, in my opinion, steadily regarded, that hereafter no branch road shalfbe taken into this company until the said branch shall be ready for toll, and then, if built to the satisfaction of the President and Directors, it may be received. Thus if the citizens of Mount Airy, and along the line from the Hollow road to that place, desire that place, they should build one, and this company should receive them. The company has been committed by a vote of the stockholders, the last year, to the Uwharie branch, and I think that branch should be received, and arrangements have been made, which will secure that branch, one more important to the trade of Fayetteville than any I know. The President and Directors need not enlarge this re- port by remarks on the success thus far, of this road; its importance, influence on the trade of Fayetteville, and its advantage to the grain-growing interests in the coun- ties of Randolph, Forsyth, &c.; these are well understood. The principal, it may be said, the only difficulty in Plankroads, is as to their durability and proper repair. On these subjects, I refer to my reports of 1852 and 1853, and those views have every day been more and more confirmed. - The expenses of repair and replacing plank on the road, bridges and culverts, will be heavy, I fear, the coming year. Prompt attention is now required to pro- tect the road from the heat of the sun, and the heavy hauling that will pass over the road the coming summer. ED, LEE WINsí.OW, President, &c. April 13, 1854. . FAYETTEVILLE & WESTERN PLANK ROAD cony—CASH EXHIBIT, Accºt, APRIL 1, ’54. DR. To Capital Stock paid in, & & & & & 6 : « “ « . & 6 & & & & Toll account,” Reserve Fund, & & 66. « & 6 “ : Refunding Interest account, ... Bills Payable, “ Peter G Evans, Dividend No. 1 unpaid, 3,64 & 6 & & é & & & ( & 41,294.80 14,43484 4,029.20 1859 - 4400 º; ; 50000 30|75 4,80000 8000 $265,783.84 *This does not include all the Tolls for the past six months; a con- siderable portion had not reached the office when this account was compelled to be made up by the by-laws. ... •3. 7 wº STATEMENT CONTINUEl). B iy ( & 6 & & & 6 & Ü & tº 6 & tº & 6 tº 46 << tº & £. & & & 6 & & tº Personal Property, In hands of Treasurer, $5,107 rest account, 1,133 14 Bonds at Interest, 3,984 17 Bills recoverable, 4,437 69 14,662 $265,7 CR. General Construction account, Salary account, Miscellaneous Expense account, Bridging account, Accounts of Individuals unpaid, Engineering and Superintendence account, Repairing Road, Dividend Fund, Cost of Lumber in reserve, Steam Mill account, F. Cooper, Engineer, (Vouchers not aud'ed) Toll Collectors' Salaries, T. B. Henly, Contractor, advance on con’t, W. & E. Welch, do., do., J. C. Pavry, do., do., Deep Run Branch Road, Toll Houses, Mile Posts, &c., Right of Way, Gulf Branch Road, C. P. Scoville, on contract account, —w- JOHN M. ROSE, Clerk Fayetteville & W. P. R. Com’ny. April 1, 1854. º FAYETTEVILLE & WESTERN PLANK Road t COMPANY. - General Stock Exhibits, April 1st, 1854. DR. To Capital Stock Subscribed, viz: by State of North Carolina, $120,000 00 “ Individuals, 133,200 00 CR. - By amount paid in, viz: - By State of North Carolina, $120,000 00 “ Individuals, 121,244 80 — 241,294.80 Due by Individuals, 11,905.20 . . $253,200.00 JOHN M. ROSE, Clerk Fayetteville & W. P. R. Co'y. ' * . . April 1, 1854.