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As fast as it can safely be done these pillars are being withdrawn.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
