REPORT

 

OF

 

THE BOARD OF MANAGERS

 

OF THE

 

BEAVER MEADOW

 

RAILROAD AND COAL COMPANY,

 

TO

 

THE STOCKHOLDERS:

 

January, 1841

 

_______________

 

PHILADELPHIA:

 

HOGAN & THOMPSON.-77 CHESTNUT STREET

1841

 

 

Ed. This report has not been located in printed form. Rather, this rendition was constructed from notes that appear in the 1838 et seq. Minute Books, Page 136 (Pennsylvania State Archives).  The shaded text are entries that could not be recognized from the cursive writing.

J. McV  Dec 2006 

 

 

Report of the President

 

The President and Directors of the Beaver Meadow Rail Road & Coal Company have now the pleasure of presenting to the stockholders this annual report of their operations during the past year from which you will be obvious that you may text look forward to the time when you will reap the just reward of the many years of patient text while waiting for the completion of a work that your foresight at a very early text in the coal trade determined could not but be profitable.

 

Text explained in previous reports  text which we trust will be exhibited in our next annual report.

 

Our business accounts herewith presented will exhibit to you the flourishing condition of our finances, though considerable sums have been expended in preparations for future mining. The mines are all in excellent condition and the coal coming from them is of the best quality and very free from impurities. The principal part of the coal sent to market has been from the 6 & 7 foot  veins of the mines known as Slope No. 1 in which are a great number of large pillars of coal left for support of the roof and earth above. As fast as it can safely be done these pillars are being withdrawn. It is believed they will produce 10,000 tons of good coal the greater part of which will be worked out during the coming season.

 

The Stationary Engine and pump at this mine has recently been put in complete repair and will probably enable us to finish the entire working of this mine without to any further expenses to the company.

 

Slope No. 5, which is driven through the seven foot vein at the bottom of the basin will produce at least 45,000 tons from that vein alone, and should the roof over the 6-foot vein be found during the progress of mining strong enough to admit to its being worked, many thousands of tons will be produced from it. The Engine used at this slope has lately undergone a thorough repair and very important improvements in the text and fixtures attached to it. A good supply of water from the North branch of the Creek above the opening of the mines places this portion of the work in a condition to have its successfully prosecuted.

 

Slope No. 4 is now being opened to the surface and an inclined plane together with the necessary appendages are also being made which are designed to carry the coal from this slope to the wharf and the railroad at Slope No. 1. This arrangement together with the Tunnel now in process of being made from the deep cut in the perpendicular vein to carry off the mine water will permit more than 52,000 tons of coal to be drawn from this mine by horse power. This slope is driven 315 feet down the seven foot vein and has been explored from the perpendicular vein to the Stafford CompanyÕs line -  a distance of 1800 feet. Over the 7-foot vein is a 6-foot vein of coal (also of good quality) with an intervening strata of rock. This coal can be worked out of Slope No. 4. with the 7-foot coal. It is estimated that East of Slope No. 4 and above its present depth 148,300 tons of good coal can be mined from the 7-foot vein and 127,125 from the 6-foot vein making together 275,426 tons, and every yard this slope may be continued down will enable us to obtain 2000 tons on the east side over which on the west side the quantity will be far greater, in all many millions of tons from this mine alone.

 

Slope No. 3 is now driven 351 feet and has been explored in an eastwardly direction from the Company line at the text tracts – a  distance of 1200 feet. This direction alone will, it is believed, produce 134,800 tons. The inclination of text which gradually increases from the commencement to till it reaches 60 degrees has some flatness to 38 degrees text indicates near approach to the bottom of the basin which, if we mat reason from the results of other works, is sufficiently extensive to compensate the company for the heavy expenses incurred in opening it.

 

The old texts have been repaired. The engine is in the best possible order and the pipes and pump text for connecting to the 12-inch pump barrel have been put down in the most the substantial manner. The developments made during the past year strengthen our belief in the estimates made in the report follows 15th August 1839 in relation to the great abundance of coal on the CompanyÕs lands.

 

Last summer the 5 bridges over the Quakake Creek were found so rotten and as to be unsafe for the Engines to pass over them. This center one was repaired so as to answer for a while. The others were propped to last till winter and are now being replaced by new ones wide enough for a double track which it will be in the interest of the Company to make as soon as the necessary funds can be taken from other uses and applied to grading and laying of the rail from the Weatherly Shops to Penn Haven. The probable cost of the second track with T-rails will be about $40,000.

 

The other bridges and the railroad  are in the usual order together with the planes, plain houses, etc.

 

Some parts of the Parryville landings work will require a slight repair. It is otherwise in good order. The damage caused by the freshet last spring was not so great as was first apprehended. The storehouse was in a few days after the water subsided put in order.

 

The propriety of making a shipping port on the companyÕs land just above the Turnhole bridge on the Lehigh to some suitable place higher up has frequently been before the board so that our operations may not at any time be impeded. Should an accident by fire, flood or other casualty destroy either of the CompanyÕs Lehigh bridges and thus, us off for a time and

text

board of directors shall act in this matter as they may judge best for the interest and safety of the CompanyÕs operations. The expenditures for repairs made to our railroad along the whole 5.6 miles, during the last year amounts to $19,902.72 which excludes a plane rope at a cost of more than $1600 being sent to the works to be in reserve whenever the rope now in use shall be worn out. Whilst the earnings of the road almost entirely derive from tolls amounts for the same period to text more than $9000 of which was received from the Hazelton & Sugarloaf Companies for tolls on coal for a distance of less than five miles along the Quakake Creek. You will thus perceive that these five miles yield a resource sufficient to pay for keeping the whole 26 miles in order. We have further to inform you that when the above named companies text the quantity to be pass over the road as is shortly intended there will not the time enough for all to pass their coal and return during each day; the empty cars by the double track. This Summit Coal Company expect shortly to commence passing their coal over the whole of our road and the Catawissa Company from the junction of their road with ours near our Weatherly Shops.

 

This in addition to that companies named above will, we trust, make our road a source of very considerable profit when the double track for the text of 5 miles shall be completed.

 

Application was made to the Legislature for an act to sanction the Company to make and text Iron, iron castings as proposed

 

Text, but little progress was made in it, and under the new arrangement of mining and transporting by contract it will be of little importance at present.

 

The estimate in which our coal is now held in the Eastern Market as well has at home is such that we are confident we shall be able to make sales to the best advantage to Manufacturers, Steam Boats and Locomotives as well as to families. This character of our coal is well deserved as great and steady exertions have been used the past season to have the coal delivered to buyers in the best possible order and separated from all impurities.

 

The Statement of the Secretary will show that there were mined during the last season 46,145 tons of coal, the greater part of which was sent to market. This sales amount to 42,834 tons. The quantity now on hand at the mines, Parryville, Bristol and other places is 14,135 tons besides the coal mined and sent to Parryville since the first of December last, liberal allowances having been made for dust and water. The Shipments and  Sales at Parryville amount to 43,843 tons. The impossibility of getting reports after dates were made except at text and freights in the cause of our having so much coal on hand. Several mines being yet unfilled. This we trust will in a great measure be text in future, by the enlargement of the Morris Canal now in progress and calculated to you pass boats of 54 tons instead of 25, whereby we shall be enabled to send our coal to the New York market much it cheaper than at present.

 

The Treasurers exhibit of the State of the Company shows an increase of $23,211.42, more than $13,000 of which have been expended for extending Slope No. 3, opening gangways, putting in 12 inch pump of 6 feet stroke 26 inch text; the balance has been paid toward getting Slope No. 4 ready for mining and permanent work at the old mines.

 

The interest on our alone has then properly meant as it is full due.

 

The profit made during the past year on the coal sold have been sufficient to pay all expenses and previous interest on Loan text worth of coal less rents of wharves, commissions and also to pay off $19,641 of former losses as exhibited in the report of January last amounting at the time to $21,302.72. In conclusion we many say that with the statements now before you, you are enabled to the judge of the confidence felt by the board in the value of their property of the company and of the ability to yield a good profits on the capital invested.

 

By order of the board of managers

Robert Pearsall

President

 

 

 

 

 

 

 

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