This book presents the annual report of the Cape Fear and Yadkin Valley Railway Company to stockholders at the 1893 annual meeting. Railway officials provide detailed accounts of the fiscal year ending June 30th, 1893, marking the end of the company's fourth full year of operation. In addition to general updates on the conditions of the road, construction, rolling stock, and financial health, the report gives a comprehensive breakdown of passenger and freight traffic in terms of their revenue, volume, mileage, expenses, and other metrics from which insights can be drawn about the economic activities and travel patterns at the time. The authors' meticulous reporting practices allow the reader to follow the railway's progress through its first years, which coincided with general economic depression and the exigency of a national financial crisis.

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