New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1850-08-01
NETWORK DAILY TRIBUNE, AUGUST l..

N
will probably be made during ueyear
TIL H,od Saws. 10 relation - the dividenf' |
The President OF the oon oany. who is gentle
mtn of the hia heat respectabhlty and ln'eBnY,
operiy and uneesitatngly declared but lev
webs ntior 10 the recent election Tor dfecto't'
thu, The ,i,nstion Of ire affairs did nor lu'uty
dividend for the coming year at least ana ,nA 10
would not hold his seat If any were INSISTED uCou'
snd such were the then generally Expressed We've
Of the directors.
Thu 10 untrue. Mr.. Norton so1ns time since eA'
pressed the opinion that lille the floating deot re
m,ined the policy Of paying dividends "" qaes.
ronable The floating debt was iubded ana M
Nortons objections were removed. ne Voteu U'
the dividend as readily az any member OF tue ooAf'
The vote on the dividend was unanimous.
In relation to the trick, it is double one win
the execution Of FIVE miles 10 the center, and over
thi, gap there is really no need Of oouoe "acA
The nd 10 so short that trains need never meet a.
that point. The gap however, will be comP'e'eu
gradually and Will not cost twenty thousand dollars
instead OF sixty thousand asserted IN the HeTaid
The item OF ESQ, 900, PCT down az debt
due for cars &c. although literally true' YET lne
actual state of the car account a. shown In the
report gives an aset Of $4,000, instead OF iaoh
ity of 100000; the Company furnishing all the
enigrant, mail and baggage cars Tor the "noie
liz e, from Albany to Buffalo, for which they are
well paid have an equiPage OF this class worm
800 900 Oh whca they owe 100000. This invest
met pays a large income.
The best reply, however we can make 70 toe
Herald is to publish the report oil the COMPANY
ms, ;.sned which we give below IN eIEeHs0
REPORT
osu .no,, and Schenectady RaIyond, IS9uit 100
Tha Di,ec,ors Of the Albany and Schenectady
Railroad Company, suom I 10 tne o'ocAno"e'S ~ui
others ibte ested lh tue anAirsO VI '"o "oP '' viz
following statement: r
For Blk months past, ending on the Jlst OF
InIv The r, ceipts of the company have been sum
Gent after pay ing for all repairs the expenses Tor
onerstpe H.. road and the interest on thrlr deot.
10 GOV n dividend OF 81 per cent 10 the Stockhod
s1d e,ve balance OF 81, 500 4s. as will appear
b., the subioiue ed statement, mark ed No l.
tn o,,'exed abatement No. ,, shows the esti.
,o.,.a -,csiots and expenditures Tor the ensuing
.ix mouths together with the earn'nes OF the c1r
resDopdipg months in the years / 20 ana 1879
Vim ,bi, stimate it will be seen, that after mak-
- an allowance Of over $4,000 tor expenses In
n,e,a,ing the road, more than the expenses OF the
-. ,tv months and an ADDITION 70 the reserve
i,'nd Of So 500. there will be sufficient TO pay the
Stockholders "a per cent and leave a surplus rJm
the earnings Of o. $50. should the present large
iccrease continue both IN freight and passengers
the bslsnce will be much larger.
The ,tatement No. 3, EXHIBITS the total amount
| If ,sceints for each year commencing with the
,ear 1914 from which 1t will b. perceived, that Tor
n series Of years the recepta have been gradually
and steadily increasing, ana furnlsning the most
o,,tf>ips assurance Of it's future ability u pay u
| E. 9cLboder, a semi annual divided Of 81 per
os,t md reserve at least o. 600 per annum, u be
annrouriated as a sinking und Tor the ultimate eX
! tir,sui,bmebt f its bonded debt
! The debts and liabilities OF the company are ex,
bib,iro in statemen: No T. and its present financial
! Condition in state ment MOO ,.
Statement No g. shows the state oil me car &C.
count; this secoont grew out OF an ARRANGEMENT
made with the Utica and schenectady Railroad
C.mnanv 10 furnish passenger cars 70 run over
both roads from Albany to Utica; also with the line
of roads from Albany TO Buffalo, to furnish all the
emiersnt, mail and baggage cars, Tor the entire
| lie r
This department is kept entirely distinct from
the ordinary business Of the company neither its
r,c.irt. or disbursements are included In oar gen
eral stat meDt OF receipts aud expenditures, ano
it's liabilities under the arrangement, are NOT charge
able to the road, but rect Upon the car ProPsrtv
tie balance in favor of this department. II VIII Dc
I seen, 10 large ,
! Ar the frat meeting of the Board after the cleo
ton of June last resolutions were unanimous y
adopted 20 fund the entire floating debt luto ten
| wear seven per cent bonds OF the Company thu
has been accomplished, and removes every Poss
! bhty Of financial emoarTassmeh'' enaoes tne
| COMPANY to exercise rigid econ o ny Ia the Pur
chase of all nee ou supplies, Trees them IRON al
| ob,;estioIs restpR upon temporary bo-ro wings
| sul hereafter the net earnings OF the Company
FIN month 10 uonth, will be represented oy az
| aousl an cunt Of ca,h in the treasury
At the same mt citing, the Doaru oruo Gu WI
! a. =, n.truction accoun; should be closed on the
~, If August this day.. This ha' been done, al
wal, sppesr by reieuriog 10 statement NO = sn'
hereafter the Ioicy of the Eoard VIII De 10 MAKE
nc further outlbys OF any klnd beyond the cu'ren
.v.snses Of the road, interest on tue debt an
nece.,ary repairs, abd the future income OF th'
Company, will be strictly applied 70 these objects
tho na1mept 70 the reserve fond OF $500 per an
| nnm agree able TO the vote OF the Is ard, and Y
! ,emi. al nual divide nds to the stocshOloers
The regular Increase OF the business upon on
road a, uill be seen by statement No g. remover
nj, frsr that the opening OF the Erie Railroad vii
serossly affect our future earnings. IL Is antlci
dated that the opening Il the Rome and CAPS
Vincent Railroad will increase our business
least eaus to any thing that we could possibly lost
bA the opening o. the Erie Railroad, and the stock
holders may expect the regular increase IN coming
xesrs that has be en- realized IN the past.
During the past year 40 serious accidents hav
occurred npo it may be proper TO state a. re
narksble feet that during the last seven year
there has been Mt ary t~o millions OF passenger
trsnsportt over our road, with bat three serlou
accidents, one Of which only was fatal in eac
case the persons injured were standing on tn
pls,Esns Of he cars. in cOntraventon OF the pos
live and well koown rules Of the Company.
The road 10 entirely free from embarrassment
the entire debt having been funded, and no oou
siderable amount Of expenditure will be requires
for long time, either for construct N or repairs.
Ib. equipments Of the road are sufficient eve
for the increased amount Of business anticipates
by the DFectoS
This Company beiRg located at the terminus OF
long chain Of roads, hiss been for years past bur
deDed with considerable expense in the receIp
srd delivery Of passengers and freight until re
Gently the whole coat Of this service has bee