American Republican and Baltimore daily clipper. [volume] (Baltimore, Md.) 1844-1846, 1846-10-13


The attention orstockholders is then directed
''to the actual and probable state of the Com
panv's affairs, during and at the termna
ton ofthe year commencing with the first o
the present month" On this subject we make
the following extracts from the report:
"The Board, therefore, proceed to state that
on account OF the contracts for the reconstruc.
ton OF the thirty miles of road, already explain
ed, there will remain TO be paid before the Isl
OF March next, not less than 1925 1000
account ofnew locomotive engines constructing
under contracts executed in the months of A ri
and May last, and payable during the same pc.
Rod $40 ,000;-lor new burthen cars now under
construction, $50 900, and for improvements at
the several depots, $4,000.
To these must be added the interest upon the
bonds now directed to be delivered to the stock
holders, and upon such temporary leans as it
may be necessary to make in anticipation OF
the revenue, and also the instalment payable
during the year to Mcssrs. Barring, Brothers s.
Co, of London, estimated together at 500, 900
and forming an aggregate Of existing engage
ments OF not less than than $4lS,OOO.
1t will be perceived, therefore, that, ndepen-
dent of contingent expenses; such as rarely fail
to occur in the course of Il twelvemonths OPP
eratioEs, the revenue of the current year, if it
should equal that Of the past, will be absorbed
by debts already Incurred and consequently,
that without dsposng of the company's bonds
to meet the contracts for reconstruction, it will
not be in the power of the Board to make any
dividend at the end of the year.
1t is also to be observed, that an amount of
not less than $685., 900, arising out Of these ex-
istlng engagements, must be paid before the LIST
OF March next, and not improbably obhgng the
Board to dispose of u considerable amount of
| their bonds without regard to the state of the
market; in which case it would be necessary to
add the loss sustained by deprecated sale, to
the other charges upon the revenue of the year,
as already explained.
1t is proper, also, in this place to state, that
during the last session of the Pennsylvania leg
isature, law was obtained authorizing the
construction Of rail road from PIttsburg to
some point on the Maryland line, where it
might be united with the Baltimore and Ohio
Railroad; and, in the expectation that it might
thereby become an important lateral connexon
of their road with the Ohio river, the Board,
in the month Of May last, authorised a sub
scrption 10 be made on behalf of this company
for 100 shares, costing, at the par value, $685.
cessary to secure the charter of the Pennsylva-
na company. Seven hundred shares were ac-
cordnglY subscribed under the authority SC
given; and the first instalment, amounting
to 81, $50, was paid out of the revenue OF the
Baltimore and Ohio Railroad company.
1t is now understood that the Pittsburc and
Conncllsvlle roail road company are DESTROYS
of progressing with their road with the least
possible delay, end that they are not without
expectations of further and greater assistance
from this company. Whatever may be the re-
suit of these expectations, it is certain that a
compliance with the subscription already made,
will be insisted upon, and the extent to " hich
this company may be called upon for payment,
will be an addition to the obligations, already
explained, to be discharged from such resources
as may be in its power.
1t would seem, therefore, that without con-
siderable increase in the business of the road
or Il like dminuton in the expense of working
it, and unless the Board should be enabled to
dispose OF the bonds, proposed to be issued at
fair prices, it is not only probable, but certain
that there can be no dividend at the ead Of the
current year, but that the net profits, and con-
sequently the dividend, of the year ending Sep
TENDER SOth, 1915, will also be materially d.
minshed."
Washington Branch, There has been ar
Improvement in the business of this branch dur
ing the last half year.
"The net profits, including the surplus o
S6,S88 81 after the dividend in April last
amount to the sum of S60,576 10, of which the
board have declared dividend among the stock
holders Of three dollars upon each share o
stock for the last six months, payable on anC
alter the 18th day of the present month, anC
leaving surplus of Sll, 076 TO-, to be carried tc
the account Of the current year"
The report then proceeds to speak Of the
further prosecution of the road to the Ohio
River. From this portion of the report we co.
Ply the following paragraph:
"The recent legislation Of Pennsylvania, re-
terred TO in another part of this report, if used
with proper skill and energy by those in charge
OF the work 1t authorizes, may ensure to the
company, independent of all other legislation,
the opportunity of connecting their work with
the western States, if not at the best, certainly
at point possessing great advantages; and il
1t be not allowed to defeat the prosecution OF
the Baltimore and Ohio Rail Road to its legi-
mate termination at a more southern point on
the Ohio, will deserve and ought to receive eve
ry reasonable encouragement from this compa-
ny and from the people of Baltimore. The
Board, at the same time, without meaning To
underratc the Importance Of the rail road from
Phtsburg to The Maryland line, are unwilling
to lose sight Of the expectation that by means Of
the legislation of the State of Virginia, they
may yet be enabled to prosecute the main stem
of their road to some eligible point on the Ohio
river within that State"
FATAL ACCIDENT. Mr.. f. P. Walter, of the
firm OF Walter & Colt, Of New Orleans, was
killed in that city on the ID inst, by the falling
of the cornice of building on Camp street.
He was S5 years Of age, native of Connect
cnl and WIS Enrnerlu n nnnrnhani il, 81 | n,is