New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1852-01-13


thought II proper 10 dispose Of these seouuIies
The increase Of floating liabilities amounts 20
$5ss 2I2 81, which Is represented by the folio "ng
SAFE Rilr5ad s31sls3a
Real Es,a.e purchased IN 1851 - s0.ils oil
SuDory assets I0w secured by Real
Estate "a oIfl The am0uut---------- 1907 -
Increase e. materials on hand Tor
workshops. sc. Sc----------------- 1890 81
Increase IN stocks and bonds held by
the Company -------------- 5<'lv) 10
Excess Of debts due he Company IN
current accounts 9OI@S - 49,, q,
The very great increase in the business Of the
Company rendered Il apparent that, FOR Immediate
use ana 10 meet the future demand. more track
room d, the terminus Of the road at Richmond was
Rece ssary. and especially would II become essential
when rev wharyes on the present unlmproVedrlyer
'front.' al the Cep0. were erected
The Managers, therefore, felt II their duty % as.
sumo the responsibility OF securing additional ground
70 the extent OF fifty feet IN width, for tracks fron
the whsrves to the engine house distance OF about
one snd d quarter miles.
Induced by tRe same reasons, and influenced by
the resolution Of the stockholders, al their last an
nuai NEE ting, directing improvements on me rail-
road puch ised Of the Commonwealth, they have Sc
cured sufficient ground for large passenger and
mechanClSe DEPOT. az the corner OF Broad and VIII
low-sts which improved By the erection OF Slita-
bic buildings viii enable the mpany % start the
trains @lh The locomotive attached, from the very
heart Of the CITY, and entirely avoid all the expense
and delay necessarily incident to the use Of horse
power.
This even With the present passenger and mor-
chandlee business, is most desirable but, If II IS
permitted to look forward 70 the completion Of the
great lines OF road now projected, 20 connect thc
works o. this Company with Others extending %
Lake Erie, to tie completion Of the Lebanon Val
ley Railroad, the connecting link a. Reading Win
the Pennsy lranld Railroad, extending from Harris
bUg TO Pittsburgh. and thus with various lines
westward, the poilCy and necessity of securing slch
advantages for present and future purposes canno.
be doubted A few months might prevent ID eir De
obtained "a all ~ 81
prices as these prospects would command.
The Managers are, however, able 10 state that II
the acquisition Of THIS real estate does not meet yOpT
hearty approval Il can be ~ once disposed OF with
out loss II could not be again purchased on as IA
voIable terms. Should It, however, meet apps0oi-
ton provision should De made FOR IT. payment.
Some few lots Of ground at other points, which
the Company had heretofore leased. were offered for
sale aLd purchased, their use being indispensable.
These purchases amount To S90,ll6 OF, lndepen1-
ent OF the mortgage and grouRl rents Tor sss,'oi
The bonded debt Of The Company isreduced BY
the investment OF the sinking !uad Sll,elD, there
having been over invested IN previous years si,-
go ~.
The Managers. nor having disposed Of the bonds
or ether securities, auhorzec al your last annual
meeting Tor the reasons already assigned, AMI htv-
ing obtained the very valuable real estate heretofore
refenea TO. Che Company Is thus len with an IL
creased floating deot. and the lmpOrf 30 question
naturally arose as 10 'he proper disposition " ar
surplus profits.
TW9years since i was adopted as Toe permanent
ponCN OF tie company, ilat the prohts should be
annually divided. Il was then determined that
even II the assets did not equal the floating debt,
other provisions should be made for the payment,
rather thsn resort 10 the appropriation OF the an
nusl proh,S for that purpose
The investments 10 the sinking flnis have Seri-
ously diminished The Cash Dividend Fund. II taIs
sun had not been so expended 10 would have eQua ed
SIX per cent, ana II Is - be remembered that
this investment as for account Of the Stockholders.
and that IN January next The accu mutation for four
"a be- e D re.sk
ana VII equal about twelve and half per cent OF
which about nine Gnd half per cent. IS now IN tue
possession OF tho Company and ihai thereafter
the division vii be made annually
The prospect for the future wss never more en-
couragirg for al, directly OF indirectly interested
In The Anthracite Coal trade Without Cutting the
market. without depression III price With probable
results - producer carrier, and consumer I0l o5l
more tuus have been transported during the pas
Than any preceding year. Win he peace and pros
ptniy OF cur country. the demand see Is surely %
increase. Ne~ channels Of trade. aud is sp2llca
ton 10 rev purposes, are daily presenting \, Ter
heloS for It's consumption TAe supply Is mex
hansuoe. aud no ore c@a safely venture % place 2
limit - the 81 nana for future wears
u may well be- that IN ls1a, al o.hcr channels for
the uase VIII be employed - the extent OF their
capacity, and THAI thls Com amy may De compelled
TO use 70 the utiefmosi all tAelr FOR ranspOr
taton. The machinery, with such IeN locomotives
as may be purchased from Renewal Fund. IN the
coming year, may Oe equal 10 i9oeO'O tuns. and
this may supply for that time tie ants Of tae con-
bNt it '''-t tt proper Ter YOU,
CONSIDER VIII N-i be the con aiiOa Of ne Com
pany, and tnt rfsds or iS53 II she other works are
employed go ;lelr utmost capacity, upoa this roa1
Will then Ne - the nOresSitv OF Transforming every
tun which see increased demand nay require
IL rests with YOU 10 decide how Tar u NAV be pru
dent 10 authorize The Managers Shcud he business
oi me present wear IN Their Judgment, warrant Il,
70 prepare ior SOch U suits, by erecting more Wharyes
upon the property already owned at Richmond and
purchasing such machinery IS nav b thus required
Inc cosS oi erecting wharf uOOn TIE COmDanv's
a HanH .nH.a s.f. If
uschireTy MI he
Locomotives az s. > r. each .-.-..--..--ssi $50
-St Coal Cas- ~ $50 saeh- -----sS5 &c
OF, 81 the rate Of say >6a eco fr es,s a7ti,iogsl
ltVSo TINS transported. TINS machiaerv. even n
ne lev fales OF TIE past wear, produces ne, profit
of ~ cents per tan. or $4,000 per Auaum.
lie results 4 lie business for Use 0ksf year now
ccMlC-lcdtsd &c yO1 are res aided Is .as gers
As nSt suot az congrssala,lon g IS true ta. the
severe ce'npeiion has, IN some degree. diA.nished
sAs pFohtS oul eFSnit u sh3gs continue, TIE pro-
pf'tsoi> nave Tie satisfaction - know tha.. Hhlls
ceAEenClng under such uIflYora1is circlmsfsnces
slA per cent upon slS +" hole capital has 5eea earned
Ss smsA S-vsnce IF oRiy ten cents per tuu on
me S's age frfiso; ~hch cannot fsl % sausfy ne
puoIcl an, without &Ly Increase II ,hs tarLage
equal Sit1tet, or. N other words. IA additional
pr0h' e. { ctEt tae aEfount OF Common Stock
That tie demand Tor FsauSylrauia's sres, s.aple
VII continue 10 Increase. rome can Gopbt Il nas
oeeoe ~ ~ qriee, o. Is ease ~ transportation oy
ste am engine. ard Is tans irseparAoe from the com
mtTce an5 maaCiacguges o. our country. In .nelY
cg!esS VII e found see secure basis OF he pros
pcliy - this Company.
On another page We give the report
Of the Bank Department, giving a full history
Of he transactions Of thar Department during
is; year. I; contains statistics Of great value
md interest 70 TIA financial world. From :
very loag statement o. the securities IN eaca
* the Banks, which We 90 not publish as occuDyinx
ton rnDrh S-,.. ,-stha, ,hs