The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1851-02-17

Total surplus Of contingent fund, Nov 80,
1850. Neutrality-suspicious.. $l22029 80
During the year, 16 miles and l135 feet Of rails
Weighing SO lbs. to the yard have been put down In
place of the length of rail originally laid, weigh
ing but So lbs to the yard The whole cost with the
exception of $4,000, which had previously been
charged into the expenses Of the road repairs and
credited to the depreciation account been charged
to the current expenses Of the year.
The cost Of the rails for the difference in
weight over those originally laid down and
now replaced, would amount to. $1b,237 90
We have built new pier at Albany, cost. $500 90
A new culvert at Chatham. .......... 450 90
Land purchased at various places, and land
damages at Pittsfeld, cost. ......... 1,2l1 90
New track at west Springfield and new
turn outs at various stations amounting
IN all Co. ..ss...- .......s.. |,VVo w
The above items exhibit total Of. >. s24, 39s 80
which has been expended for objects required by the
necessities Of the road and not to take the place Of
old out materials to cover depreciation in any
sense whatever. Besides this there have been built
4o4 feet Of bridges for second track 90 feet of
which were originally intended for single track the
bridging costing double the original amount and
being far better.
The entire amount is charged to expenses,
Two new passengers cars have been added '0 =
and charged to expenses, cost. ........ 4450 90
One new engine in place Of one old one, sold,
Cost oI.s lOZo w
In addition to all this large amount has been ex.
Tended in the improvement of the cars and equip.
msnts Every dollar expended during the year.
the outlay at orcese has been charged to expenses
The amount expended upon the road this year for
repairs, new iron bridges etc, exceeds the amount
expended in ls49, by SIS 500.
The contingent fund has been reduced to $72 800 49,
The value OF the Massachusetts, sinking fund Nov 3d.
s2slo7o H. fetal, sso51eO 90. The net earnings of
the Pittsfeld and North Adams Railroad for the last
year. have been S376 2s less than the previous year
The guarantee fund has all been consumed, and that
account stands debted in the amount Of $ll279 IL,
which has been taken from the earnings Of the
Railroad.
The construction account, showing the total means
provided, presents the annexed statement =
CossrRUcrIos AccoUSr-WEsrEaN RAILROAD.
From 81 500 shares Of the capital stock 90
1850 900 sterling bonds, bearing in
tsrsst at per cent, at 81 so the
pound sterling. .. n. .Sd S S1o 90 90
Total means. ......... $40 90
Amount paid Albany Sinking - 900 %
Massachusetts. do. 1464s7 81
the Sinking Funds,
from proceeds Of
shares......... H31ll 10 459,57s 81
The total cost Of rod and equipment. e9o3708 %
Leaving . balance Of construction funds
unexpendsd. ........ Sio232 "a
The report says that soon after the annual meeting
In February last IL discovered that the accounts
ct Springfield had been very much neglected that the
books had not been properly kept and fears we're
entertained that large deficiency weuld be found to
exist in the funds Of the company 1t will be that
several items have been charged to the contingent
fund.- for deficiencies ascsrtained upon settling and
balancing the books at Springfield A deficiency OF
funds was found to exist ct the Albany station arising
principally from neglecting to call for prompt settle
ments in former years These things rectined
system of prompt accountability frem the agents OF
the various stations Is enforced and the good effect
felt by the In the financial affairs Of the
company.
Appended to the report is . statement from tn,
Committee on Accounts, relative to the defacation
Mr. Ware, Of Springfield, the cashier Of the Corpora
ton The facts In this familiar the public
The amount ofthe deficiency stated by the commit
tee to be sss,354 o. The property assigned by Mr..
Ware to the corporation worth and for the
balance he gave his note demand, and received q
discharge from the committe