The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1850-01-21

The trade the works of the company for the year
ls49 has consisted Of 4s9 POS tors of coal and 222327
tons of miscellaneous articles being increase in the
coal tonnage of So COG TONS and in the miscea
trade decrease OF 20 645 tons, compared with the
business of 1888 Tho total tonnage of lS49 was 7535
tons. The tolls coal amounted to 1891 065 81 and
on other articles to s70s7o 81, making a total OF
Sails 40; and being $l60374 OF greater than the
tolls Of 1s4s The amount received for rents OF real
estate and for the of water power $27l7s 95
beng S3 7s4 81 more than in lsis. Making Q grand
total Of $4s9024 Al from which deduct current ex-
penses, car and leading expenses, repairs saa.
ries SO, sl16,450 &c. interest bond and mort
cages and old mortgage loan, 100000; leaving a
balance of S213, 45O &c. II the company Rad not de-
creased their debts $69676 during the past year this
balance would have been applicable to interest the
common leans S225 574 o. or about "A per cent The
whole amount of the common loans, January /, 1850
was 81 954450. TIE whole amount of the company
liabilities including the capital stock, is se,l2l $50
The report recommends the adoption Of the follow
pg plan for the settlement Of and scoruing in
terest:-
First. That certificates OF Indebtedness shall be
issued for the interest due the common loans Jan
ls49 TO be paid by three equal instAlmeut, on the
Gates to bear no interest. The smount thus to be
liquidsted is Sl75,2s7 II.
Second To issue certificates OF capital stock Of the
company at par for interest due the loans,
from January l. l6i9 TO January I, 1850, inclusive.
The amount Of such certificates will be 1927 257.
Third. To pay out of the net income OF 1850 which
will be lst after dcharging the current expenses and
current liabilities for the year, the balance of the
floating debts. and the interest the old mortgage
loans in full, much IA cash accouDt Of the in
teret on the common loans, which win fall due July l.
1850 and January /, 1851, Us such net income will
justify. and settle the remainder in certificates Of
capital stock at par
Ats general meeting OF the Stockholders held the
7th inst, the above plan unanimously adopted
loan Of 100000 is recommended, for the purpose
of constructing boats to supply the deficit occasoned
by throwing boats out Of service, and to meet the
anticipated wants Of increased trade An increase
Of fifty boats the supply Of 1s4e would enable
company carry from ESQ 900 to 900 OF coal
per annum. The maximum cargo Of the bsrgss
ISL tens Feshts during the year averaged 10 cents
to Philadelphia, and 81 rs to New York. including the
60 cents toll on the Delaware and Raritan Canal and
fer the steam towing on the rivers.
II Is the opinion Of the management that the works
Of the company WILL In short time, yield Q revenue
sufficient to pay the interest the whole amount Of
stock and Indebtedness.
The report Of the trustees Of the Wabash and Erie
Canal made to the legislature OF ndian presents the
annexed statement Of receipts and expenditures for the
year ending December !, 1si9:-
WABASH ERIE CANAL.
From tolls and water rents. $3.50 6s5
From the lands Of the canal. ......... 76ils
Interest on depositt. .................. 1887
ssai.26i
Add amount on hand at last report. 2ss s72
sOOs, 1913
They have expended on account Of
On account OF repairs, Interest on loan,
taaries and contiDgercies. ....... 12i,3s5
- 5i7 $40