New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1851-01-15

o--. OK
surpus 10 next .sl2662 o
1t will be observed that the net profits, after
paying all current expenses, are more than double
the whole amount Of interest accrung on the en-
tire debt of the Company, and that after making
the usual appropriation to the Renewal Fund OF
$50 1872 50 for perpetuating the road and its equip
ments, tie net profits are 1881 ,236 ga, which IS
equal TO a dividend of about 10 per cent. on the
amount of preferred and common stock $3.50,
632l now outstanding. The Dividend Fund has
been subjected, as will be perceived, TO large and
unusual charges which could not be fOreseen. la
the month Of September last, a freshet, unequaled
in its extent, occurred upon the river Schuylkill
II embraced the whole OF the section OF the coun-
try which is drained by that river, and was more
or less disastrous to all property within its IN
fuence.
The business of this Company was, from the
faithful and diligent exertion OF those employed,
interrupted but for ten working days, and the
managers feel it their duty TO express and place
on their minutes their appreciation Of the energet-
ic and efficient conduct Of the officers of the En-
gineering and Transportation Departments In re-
pairing the damages sustained.
A sudden, large, and profitable increase of bust.
ness Immediately ensued, and it became alike the
duty and the interest of the managers, by every
just means within their power, to meet both the
wants OF the public aud the operator. For this
purpose ten new first-cass locomotives were OBJ
tanned as speedily as possible and other expendi-
lures were incurred to meet this unforeseen de-
mand.
The expenditures Of the Renewal Fund under
this state Of things were Sl6s,e5l when the ordi.
nary expenditures would have been only So, 1873.
The surplus has been charged to the increase &C.
count of the past year.
The cost of repairs in consequence Of the dam.
age by the freshet of September, are classed
among the extraordinary expenses, for although
the works are in some degree liable TO injury, by
the sudden and not unfreQuent rise of the waters
of the Schuylkill, yet such widespread devasta-
ton is of rare occurrence.
The expenditures for locomotives cars sidings,
&c. were imperatively demanded by the increased
business, and the consequent addition to the prof.
its has shown their propriety. The annual profit
was not diminished and the value OF the whole
property has been increased
An annual appropriation of $4,000, it is be-
lieved will not only perpetuate the motive power,
but lby procuring one first class engine for an in
feriOr one) greatly increase its efficiency, and d.
mnish the annual charge for repairs and expenses.
The managers believe that the maximum cost
of renewals of Railroad Iron about one cent per
tun transported has been attained, and that the
gradual decrease in the number of accidents from
defective cars unquestionaby proves that their
efficiency has been fully maintained.
The required ground has been secured, and an
arrangement entered into with the Mount Carbon
Railroad Company for the passage of passenger
cars &c over their Railroad from our present ter
minus to the new Depot. The expenditure for
real estate, &c. for this purpose, has thus far
amounted to go 1877 So which has also been charged
to the income account OF the year.
Notwithstanding large deductions, amounting in
all 10 Sss,s46 43, and the investment Of 100000
for the sinking funds, the profits have been sufi-
eient TO yield dividend OF per cent. to the COM
mon ckholders, which has been declared paya-
bic on the 18th inst
The Bonded debt has been reduced during the
year S275,900. Of this $l45,0s2 90 resulted from
the investment of the sinking fund of ls49, and
$l24,359 IS from that of the last year.
The Common Stockholders are of cOurse entitled
to the whole investment for the year ls49 which
will be divided among the holders Of that stock in
January, 1853.
This investment, together with the dividends
paid, equals s per cent on both Common and Pre-
terred Stocks.
1t is again apparent that the Company largely
profit BY the use OF their extensive workshops in
manufacturing all articles required for repairs and
renewals, except Railroad iron
The experience OF the last three months Of the
fiscal year estsblis hes that, with the increased
number OF locomotives obtained by the recent pur-
chases the equipment of the road is fully equal
the transportation Of 100000 tuns of coal and
if the same active demand should arise that then
existed, the tunnage could be readily increased
to eco tuns.
The expenses including all charges, have been
reduced during the past, as compared with the
previous year, as follows;
On On Goal tIcS per nn
On Merchandise ...............so DIV "
On Passengers. $500 -
The cost of transporting coal diminishes pro-
portionately with the business done This has
been especially apparent during the last three
months. Should such an amount of tunnage con-
tinue to be offered to the Company great re-
ducton could be made in the charge for freight
without impairing the actual profit
The plan suggested in the Report of September,
lsi9, and in January last for the extension Of the
bonds due in January, 1850, for twenty years, has
met with very general approval, and large pro
portion OF those bonds have been exchanged for
the mortgage bonds Of 1870.
The managers have concluded purchase from
the Commonwealth Of Penns ylysnia of the double
track railway. extending from the corner OF Broad
and Vine SITS. in Philadelphia, and running north.
west about 81 miles to the point of connection
with this road on the western side OF the River
Schuy lkill The cost Of the railroad and Of the
real estate purchased in connection with II, was
$243 900.
The Managers have annexed letter from D. A.
Neal, Eco the late representative Of the New
England interest IN this work. The circumstances
which led to his appointment be regards as no
longer existing. and with characteristic propriety
he hiss declined longer 20 retain a position in
which no active duty is to be performed. He has
expressed bis abiding confidence in the work he
has so thoroughly examined
The equipsge of the road consists of 92 engines
1907 coal cars, $50 cars for freight and general
use, % passenger cars ? small do. stationary
engines, 10 other steam and wat er power engines
wood cutting engines, snow pows % carts
and wagons, and IS horses.
Raealnaa If pradueA