The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1848-12-29


with the affairs Of this railroad, the Auditor says
"The directors Of the railroad company at their ses-
sion In November lS4 authorized increase of the
capital stock Of the company to the of S20 000
Att same time they gave preference to stockho!d
ers subscribe for the stock par each stock
holder being permitted to take additional share for
every four shares then held or If they should not
desire to increase their stock they permitted to
sell the privilege to Others The right to subscribe or
to dispose Of the right do extended to the 10th Of
January the money to be paid the 18th Of the
month At an early day OF the last session. the sub
jet presented to the Legislature in a oommu uca
ton from this office; but the recess prevented any
action until after the 10th of latest De-
Rod for making the subscription For the purpose Of
saving the right the State the Auditor rreasur
or took the responsibility Of subscrbins on the part
the State for the stock to which by the arrange
ment she was entitled. On the day before the last
day when the payment was required to be made to
prevent it's forfeiture bill authorizing to bs taken
was postponed indeh nitely in the Senate The officers
hours afforded to sell the privilege of subscribing and
found purchaser at at So SIS per share realizing to
the State Treasury the sum of SPAS SO
J. AT the meeting of the Beard Of Directors Of this
company. In August last another large increase Of
stock authorized and the preference again given
to take at rata as the former
rate By this latter increase the State has right to
subecribe for LOT shares to sell its right
the best price 1t will bring and this right the
State Is ooncer ned is extended by resolution of the
Board Of Directors to the first day Of February
The extension Of the time was made for the
of giving the Legislature opportunity action
In reference to 1t, and respectfully recommend the
subject to your Ths par rate Of stock
ket, believe, is about $5S or $50 to the share"
Since this work into the possession Of indivdu-
ais 1t has been made very productive and its stock has
recently sold In this market at premium Of twenty
i've thirty per cent Its receipts already large
and the monthly returns show q great increase on
those for corresponding months In previous The
Central Railroad Of Michigan is another instance Of
he superiority of individual enterprise that Of
The State and the section OF country through which
these roads passin fact the people Of the whole Of
each State-win be vastly benefited by the change
made in the management of thsse works.
The report the president of tho Central Railroad
Company Of Georgia, for the year ending Nov. 80,
1s4S presents the annexed statement Of receipts and
expenditures -
CENTRAL RAILROAD, GEORGIA.
Total amount Of earnings OF the year. .S516 252 "a
Expense Of maintaining and working the
road for the same period. 266 450 OIL
Leaving balance net profits Of. .$24o 802 So
And an increase In tho gross earnings Of the
road over the previous year, of. .$l32 $50 %
The variations In the income from the various
sources, in ls4s, compared with 1s47 exhibited in
<hof cIlo vin fah