192 Massachusetts Railroad Reports.

and cars, in preparation for an enlarged amountof business, anticipated from
the important extension ofthe linesofeommunication. For the purpose of
meeting the expenditures for these obgects, the stockholders voted, on the
1st day of November last, to increase the capital stock to_$l,800,000 by the
creation of 1000 additional shares, in the manner authorized by the charter
all of which have been taken up at par. ~ ‘

The amount expended during theitwo last years, and charg-

ed to the account of construction, was ‘$137391 430
The amount previously expended and charged to the same

account, as by annual report of 1838, was 1.710.294 39
Making a total of $l.843»085 32

From which deduct amount reserved from income and carri-

ed to reserved ‘fund on account ofdecay and wear of road,

engines, etc., beyond what is replaced by repairs and new

work, $48,830 00
Present valuation of road, land, depot, buildings, engines,

cars, etc. 931.799.9555 82
The amount of income received during the past year was as
_ follows:

From fare of passengers, $122,495 92
From freight, mail, etc., 105.251 16
Rents, storage, et'c., 0 ______§_._(l60 10
Total, not including a surplus of last year. . $23l,8tJ’Tf§

The expenditures within the year. exclusive of the amount
charged to the account of construction, were as follows :

For repairs of engines and cars, $25,198 46
Repairs of road, 18,035 09
All other expenses, 83.|5l 28
Total. $126,384 83
The following dividends of profits were declared within the
ear, viz:

Ju y l, 1839, 35- per cent. $59,500 00
Ian. I, 1840, 3 per cent. 51,000 00
Total. $110,500 00

All which is respectfully submitted,
Nathan Hale, David I-Ienshaw, Eliphalet lVi1liams, 'William Jackson.
Daniel Denny,—Nathaniel Hammond, William Sturgis, Directors.

MEMPHIS BRANCH RAILROAD AND STEAMBOAT COMPANY,

At the meeting of the stockholders of this company, held in Rome, on
$119,715 inst-. the following gentlemen were appointed directors for the year
—1840:——Messrs. D Mitchell, J. H. Lumpkin. J. Liddell, J. Rogers, G. W.
Tuggle, T. Mills, and N. Yarbiough.

On the same day the boardwas organized by the election of D. Mitchell
Prestdentpro tem., and N. Y-arbrough Secretary.

The Board of Directors have appointed Wm. Spencer Brown, Esq.,
principle engineer. with instructions to organize a party, and proceed forth-
with with the survey, and location of the road.

‘Tags private enterprise will carry out what the State has so blindly ne-
g etc .

This railroad together with the Selma and Tennessee railroad, will form
the most direct possible connection between the South Atlantic ‘sea coast,
and the western States-—--will be 100 miles shorter than the same connec~
tion ma. Ross’ 'Land1_ng—-will strike the Tennessee river below all obstruc-
tions and at in--point of the river navigable for in months of the year.