Board of Public Works, a state agency which, beginning in 1816, invested in a portion of the stock of privately managed companies building canals, turnpikes, and, later, railroads. In February 1828, the Chesterfield Railroad Company obtained its charter from the Virginia General Assembly. Within a year, $100,000 stock was subscribed, half purchased by the colliers of Chesterfield County and half by Richmond-area investors. The company hired Moncure Robinson, (1802–1891) a European-trained engineer and U.S. railroad pioneer to supervise construction. In 1830, capital stock was increased to $150,000 to cover unexpectedly high construction expenses. By June 1831, the construction was completed at $127,000 total cost. Most profitable railroad in the world 1831-1850 By September, 1831, the railroad was operational, using horses, mules and gravity as motive power. One hundred and sixty cars were put into operation, and it was an instant financial success. In 1836, the Chesterfield Railroad Company reported carrying 25,903 cars, 84,976 tons (77,089 tonnes) of coal. It received gross revenues of $83,409. This equaled 19% of stockholders' original investment repaid plus 6% dividend. It was reputed to be the most profitable railroad in the world at the time. In 1840, one of the mining companies reported that 300,000 bushels of coal were extracted from the -deep Pump Shaft alone, one of the more active mines, using the labor of approximately 150 men and 25 mules. It is believed that most of this coal was shipped out by the Chesterfield Railroad. By 1844, the Chesterfield Railroad had repaid the stockholders' entire original investment and consequently came under regulation of Virginia Board of Public Works, which adjusted charges to fix a dividend return of 6%. The rate for carrying coal reduced from 6¢ per bushel to 3¢. Outmoded by steam railroad competition 1850-1851 In 1850, the new steam-driven Richmond and Danville Railroad began operation to Coalfield Station (later renamed Midlothian). Although unsuccessful lawsuits followed, the Chesterfield Railroad was quickly supplanted by the competition. It filed its last report with the Virginia Board of Public Works in 1851. With permission from the state legislature, the Chesterfield Railroad was dismantled before the American Civil War. Design features Operating its entire lifetime without any locomotives, Chesterfield Railroads moved its railcars loaded with coal mostly by gravity downhill to the docks on the James River at the southern edge of Manchester. In places where the line ran uphill, mules helped the cars climb some