The Sun.
London, England, 1867-04-01 00:00:00

ILLINOIS CENTRAL RAILROAD COMPANY.

The annual report of this company which we give below
is, we consider, very satisfactory. The traffic receipts for
1866 show a diminution when compared with the 1865, but
the working expenses have likewise decreased, so that the
not earnings are almost exactly the same as the previous
year. The land sales show about the sane result as 1865,
and it is satisfactory to note that payments have been
pnctually met by purchasers.

Report to the Directors for the year ending December

31, 1866.)
The earnings for the past year amount to $6,546,741.47,
showing a deficit as compared with 1855, of $634,466.90;
the operation expenses, $4,371,294.09, being $634,990.18
less than 1865, and the net earnings, $2,175,447.38 against
$2,174,924.10 in 1865 ; the net being about the same as last
year.

The passenger income for 1865 was $2,722,262.32, and
for the past year $1,987,705.02, showing the above deficit in
gross earnings to be entirely in the passenger traffic. This
was inevitable--not only the heavy transportation of
troops to and from the field, but travel incidental to the
army, gave us a heavy traffic during the war, and for a
time after its close, until our citizen soldiery had become
re-established in their northern homes. From these causes
mainly, this railway, in common with many others, has
experienced a heavy decline in its passenger traffic. Be-
sides, the South has not recovered sufficiently to give us
the business which must in time come from that source.
Desolated by war—its labour system disorganised—it is
not strange that the reconstruction of Southern industry
has been so slow, that the vast country below our southern
terminus has contributed little or nothing to our resources.
Time will change this, we hope, rapidly for the better.

The income of the line from freight was $4,239,160.25,
showing a healthy growth in our local business. This is
an increase in our freight traffic, the tonnage being about
12 per cent., and the earnings about 2 per cent. over last
year, the traffic having been conducted under a somewhat
lower freight tariff than in the previous year.
Finding, early in the year, a diminution in income, it
became necessary to ecomomise outlays and curtail ex-
penses. Prices for materials and labour remained un-
changed. The most rigid economy consistent with the
maintenance of the line in good condition bas been re-
sorted to, and only such new warks as were necessary
have been constructed.

During the past year we have laid 6,000 tons of new
and re-rolled iron in the track. Your equipment has been
increased by the addition of two new locomotives, seven
passenger coaches, and one hundred and fifty stock cars,
built at your workshops at Chicago, with a cost, with
some addition to machinery and tools, of $225,473.53. The
construction account has been increased $196,538.65 for
new station buildings, sidings, water tanks, and other per-
manent improvements, including new wharf boat at Cairo,
and the completion of Scales Mound Cut. The grade at
this place has been reduced, through rock, from eighty-five
feet to forty feet to the mile, costing $56,374.22. Due
regard has been had to the preservation of the company's
property, tad we think the line now in better condition
than for several years. Looking for a reduction in prices
we have bought sparingly of supplies, and deem it expe-
dient to continue this policy during the present high tariff
and unsettled condition of affairs. We have embarked in
no new enterprise, and assumed no new obligations.
During the past year, in addition to the payment of
interest on funded debt and State tax, amounting to
$1,306,995.05, we have paid two dividends of 5 per cent.
each, in February and August, amounting with Govern-
ment tax, to $2,459,678.96, and commenced the present
year with a balance in hand of £2,029,319.67, out of which
the dividend of February 1, 1867, has since been paid,
leaving a balance of about $BOO,OOO. We think the pay-
ment of a 5 per cent. dividend, in August next, already

assured.
The following general statement is condensed from the
various reports, and exhibits the operations of the year:—
January 1, 1866.
To Balance of not cash assets as shown in
last Annual Report 51,703,525.25
December 31.
„ Gross earnings in 1866
„ Net receipts of Land Department
„ Decrease in, working supplies
„ Cash received in payment of past duo
calls o❑ shares
„ Amount of Six per Cent. Sterling Re-
demption Bonds, exchanged for Six
per Cent. .Construction Bonds

6,546,741.47
1,858,049.57
20,470.09

4,220.00

358,500.00

$10,734,366.38

January 1, 1867.
To Balance brought down, consisting of net
cash assets in Nov York and Chicago,
and exclusive of the working stock of
supplies..

$2,029,319.67

December 31, 18C6.
By permanent expenditure—
For masonry, bridging, new
station buildings, &c 5199,135.16
For new engines, cars, machi-
nery, and tools 225,473.53
$121,608.69

By operation expenses—
For maintenance of road $1,256,963.16
~ maintenance of machinery 1,013,718.85
„ train expenses 729,722.85
„ station expenses
„ general salaries
„ „ expenses 166,432.68
„ claims and damages, fenc-
ing, insurance, dm
----$3,944,218.34

„ State tax of 7 per cent. on
gross earnings for the year
ending Oct. 31, 1866
„ Interest on Funded debt
„ Sterling exchange on coupons
payable in London
„ Dividends on Shares 10 per
cent., and Government tax
„ Increase in miscellaneous
assets
„ Payment of Optional Right
Bonds
„ Reduction in Construction
Bonds as follows :
Exchanged for redemp-
tion Bonds
Redeemed at 1.20
Purchased at various
rates

Premium paid

~ Balance carried down .

371,500.00
85,500.00

85,000.00

542,000.00
19,199.90

427,075.75
799,380.00

80,589.30

2,459,678.96

4,485.77

4,000.00

2,029,319.67

10 734 506.38

TRAFFIC RETuRNS FOR FEBRUARY;
1867. 1866.

Miles open. S
Atlantic and Great Western 507 ... 883,274 ... 408,864

Chicago and North Western 676 ... 586,743 ... 453,965
Chicago and Rock Island
.grie
Illinois Central 706 ... 554,201 ... 512,028
Marietta and Cincinnati 283 ... 78,976 ... 84,318
Michigan Central 329 ... 283,661 ... 265,796
Michigan Southern 5lB ... 302,437 ... 277,234
Milwaukee and Prairie du
....Chien
_84,896

Milwaukee and St. Paul 370 ... 130;000 ... 123,000

ATLANTIC AND GREAT WESTERN RAILWAY.

The following circular has been issued by the committee
appointed to investigate the affairs of the Atlantic and
Great Western Railway :
"Atlantic and Great Western Railway—
Committee of Investigation.
.. _. - . . . .

" Sir—l beg to inform you that the committee have,
since their appointment on the sth March, devoted their
most earnest attention to the present financial position of
the company, but they find it will be impossible to pre-
sent any report until they have made fuller investigation.
"Under these circumstances, they would appeal to the
holders of divisional bonds to retain for the present their
coupons maturing on the Ist proximo, and their drawn
bonds payable at the same date, the committee having
already concurrred in taking active legal proceedings in
America with a view to the protection of the property.
"With reference to the coupons on the Consolidated
Bonds, the committee will make further communications
when they have completed the necessary arrangements,
and in the meantime request the bondholders to retain their
coupons.-1 am, sir, your obedient servant,
"WILLIAM RUSSELL, Chairman.
"5, Westminster Chambers, Victoria-street, S.W.,
"March 25th."
Notwithstanding the activity in the London market for
American securities prices generallyhave been well main -
tained. United States 5.20 Bonds show no alteration from

the quotations of this day week. In Railroad Shares Illi-
nois Central have remained firm, closing 781 to 79, but Erie
have given way on the cessation of demand for American
account, and leave off 381 to 39, one-and-a-half per cent.
under the price of this day week.
Atlantic and Great Western Debentures and Consoli-
dated Bonds are about ono per cent. lower. .

COUNTRY MARKETS.

NORWICH-SATURDAY.

We had a small supply of wheat at our corn market to-
day ; tho demand was dull, and prices declined is to
2s per qr. A few samples of barley were offered, and met
with buyers at late rates.

White wheat (weighing 631 b), 68s to 70s ; old red aitto,
(weighing 631 b), 60s to 62s ; new red ditto (weighing
601 b to 631 b), 60s to 628 ; best malting barley (weighing
521 b to 531 b), 44s to 46s ; runs ditto (weighing 511 b to 521 b),
40s to 44s ; distilling ditto (weighing 50lb to 521 b), 34s to
36s ; oats, 24s to 288 ; beans, 57s to 398 ; peas (maple), 36s
to 38s per qr. Flour, 43s Od per sack.