REPORT
OF
THE BOARD OF MANAGERS
OF THE
BEAVER MEADOW
RAILROAD AND COAL COMPANY,
TO
THE STOCKHOLDERS:
January, 1839
_______________
PHILADELPHIA:
HOGAN & THOMPSON.-77 CHESTNUT STREET
1839.
REPORT.
The
operations of this Company, since the last annual meeting of the Stockholders,
have been conducted with all the success that could have been expected under
the depressed state of the Coal Trade, and the high price of provisions; the
price of coal being at least twenty-five percent less to the coal operator than
in 1837; while it was impracticable to make any reduction in the expense of
labour.
The amount
of coal sent to market, from the various anthracite collieries in Pennsylvania,
except those on the Susquehanna, was --
The stock on
hand last spring, at the opening of the navigation, was estimated at 200,000
tons, including the ordinary stock of the various yards. The diminished supply
for 1838, and the improving business of the country since 1837, cannot fail to
revive the demand for coal; and, with the continued extension of its use in
place of other fuel, must have a sensible effect on the market price during the
ensuing year.
The efforts
of the Board have been earnestly directed to improvements in the economy of the
various branches of their operations. A new locomotive engine with six driving
wheels, has been built at the Company's shops, of great power, and better
adapted to drawing heavy loads on undulating and curved roads, than any heretofore
used by the Company. The success of this engine, aided by the eight-wheeled
engine used last year, furnish an enlarged means of transportation, sufficient
for a considerable increase of business.
The
stationary engine at the Weatherly mine (or Slope No. 1,) has been proved
capable of raising 35,000 tons of Coal during the past year, besides the water,
which gradually increases with the extension of the excavated surface in the
mines. The work at the Wilson mine (or Slope No. 2,) was resumed early in the season,
above water level, with animal power. It now promises to furnish a considerable
quantity of excellent coal. The new vein on the south side of Beaver Creek,
called the Wharton mine, has been opened, and a slope entered into it with a
view to be as extensively worked during the ensuing year, as can be done with
animal power. This coal measure is between seven and eight feet thick, and of
very superior quality. From present appearances, the vein has the form of a
basin or trough of great depth; a section of it from the entrance of the mine,
where it is most contracted by the contiguous ridges, measured on the
submerging curve, may be estimated at 260 yards, and its length from east to
west throughout the Company's land, upwards of two miles, widening as it
progresses eastwardly according to the surface of the valley. It cannot now be
determined, whether this vein is the same with that referred to in the last
Report, which was found cropping about one mile east of the present opening,
near the southern base of Pissmire Hill, or whether it forms an additional body
of coal overlaying that immense stratum; probably the latter, as may be
inferred from its dissimilarity in fracture, and in the thickness of the
measure. It will require 16 chains of railroad and tressle work to connect the
Wharton mine with the main railroad, which, with the excavation for the coal
bank, and other preparations for a spoil bank and screens, &c., will be
completed early in the spring. The slope has been sunk 160 yards on the dip of the
coal, and twenty-five yards of perpendicular depth. The coal and water are now
raised by animal power, which it is expected will suffice for another year; but
should the water increase materially, it will be necessary to erect a
stationary engine, which, on account of the depth and distance to be eventually
opened and worked, should be at least of a sixty horse power. No attempt has
been made to open the Levis mine. It was not necessary for present business,
and it was thought best to ascertain, by the working of the old mines, whether
any connexion existed between those coal measures and the Levis vein, which
might suggest a plan of working very different from what would be proper if no
such connexion could be found. The explorations west of Beaver Creek, indicate
an extension of the veins found on the east side. But it cannot be necessary to
make any new work there for many years; nor is it improbable that a
considerable portion of that coal, can be taken out through the mines already
opened on the east side.
The capacity
of the works now opened and nearly ready for business will be a supply of from
60 to 70,000 tons for the present year; and with the addition of forty new
cars, the other means of the Company will be sufficient for the largest
quantity, subject to some unprofitable expense in using small engines for part
of the transportation.
Considerable
inconvenience has been felt during the past year, for want of boats. More than
5000 tons of coal were left on the bank at Parryville, at the close of the
navigation, which could all have been shipped with very small additional
expense at the landing, if there had been a regular supply of boats. In a work
of this nature, where there is a constant connexion and continuity of the
operations from the mines to the market, the success of the whole, depends on
the punctual and prompt management of each of the parts. It would avert much
disappointment as to boats, if the Company had a number of their own, to be let
in the usual way for a portion of the gross proceeds.
The Board promised, in the
last Annual Report, to deliver 50,000 tons at Parryville, within the year. The
quantity so delivered was 49,500 tons, of which 44,296 were shipped to market.
The quantity promised would have been exceeded if there had been boats to receive it. The railroad has been
kept in good order, no serious accident having occurred to interrupt the work.
The total expense of repairs, proper, was $4,722. The repairs of engines and
cars, will always be a heavy item of expense. Efforts have been made to reduce
this as much as possible, by improved construction of them, with the means of
prompt and vigilant attention to this branch. Among those improvements, that of
chilling the solid nave of the car wheels. in a new method invented by H.
Thomas, with conical hardened axles, promises to be of great advantage, as also
the oil cup in the pedestals of the axles, by which much waste is avoided in
lubricating their journals.
The Company
have now five locomotive engines. Three of them have one pair of driving
wheels. One of them (the Beaver,) has two pair; and one (the Nonpareil.) built
by H. Thomas at the Company's shops, has three pair of drivers.
The last is
of great adhesive power, and more than double the traction of the three former
engines. One of the light engines might now be sold; and if another of them was
replaced by an engine similar to the Nonpareil, it would greatly increase the
Company's means of transportation, and improve its economy.
All the
Company's engines burn coal with the greatest facility; no difficulty occurs in
raising and keeping up `steam. The apparatus for improving their draft, was
introduced into the United States, by the Company's machinist, H. Thomas- The
whole expense of it is not more than twenty dollars, including the labour of
attaching it, which can be done in one day.
In the
extension of the operations of the Company. it became necessary to raise an
additional sum of money. which the Board have deemed it most expedient to
effect by a sale of stock. They have, therefore, in pursuance of this
determination, sold 3261 shares, principally at a premium of 2 per cent.,
making the total shares of stock now sold 12,461, and the capital $623,050.
The
permanent works referred to. are three commodious dwellings for the
superintendents and clerks; double track and turn-outs on Black Creek and
Quakake; the enlargement of the landing at Parryville; the construction of the
locomotive Nonpareil; opening the Wharton mine, with the appendages, coal bank,
horse gin, pump, tressle work, and rail-road, and thirty-seven new rail-road
cars.
The
preparations for the ensuing year, are intended for supplying at least 60,000
tons at Parryville, and some expectation is entertained that the Board will be
able to contract for the whole work, or at least for the transportation and
wear and tear, upon terms more favourable than it would be practicable for the
Company to do it for, through their own agents. The transportation of lumber,
merchandise, and passengers, has amounted to $3,061 19, and the amount accruing
for tolls from Hazelton and Laurel Hill, &c., were $2,720 52.
The coal of
these companies passes five miles over the Beaver Meadow Rail-road. It will
probably be trebled next year, and the Summit Rail-road being nearly completed,
that Company are expected to commence business early next summer. Their coal
must pass twelve or fourteen miles over the Beaver Meadow Rail-road. The tolls
accruing from these operations, will be more than sufficient to pay all
expenses of repairs on the Beaver Meadow Road for the ensuing year, and in a
very few years produce a considerable net revenue, which, aided by the general
improvement in business, and the constantly increasing demand for coal, cannot
fail to render the property of the Company a source of profit to the
Stockholders, equal to every reasonable expectation.
S. D.
INGHAM, President
Go to the
Corporate Report Index
Return to the
Table of Contents
About
The Hopkin Thomas Project
Rev.
April 2010