The republic., 1852-01-16

STATEMENT or RAILS REMOVED FROM THE TRACKS,.
In lsis, bar of iron removed for every 200 tons
of coal carried
In lS49, bar of iron removed for every 3ll tons
OF coal carried
In 1850, bar of iron removed for every 332 tons
Of coal carried
In 1851, bar of iron removed for every 279 tons
OF coal carried
That the efficiency of the machinery is fully
maintained, is here further exhibited by the fact
that the number OF cars broken or damaged by
of defects is less, and that the OF keep
ing them in repair is also diminished. The COM
paratye increase in the number of rails removed is,
in part, attributable TO the enormous business of
the last few months of the previous year. This
inConsiderable item OF expense, however, is still
within the former estimate, and, superior rails
are substituted for those removed this item may
in few years diminish experience (on this
road at leasD proves that it Is the quality of the
iron rather than The weight of the rail that ensures
durability.
The loss of life on the road is deeply TO be de-
plored, but ii has resulted from causes beyond the
control of the company, or its officers. Three of
those killed were employed on the road, and the
remaining ton were strangers improperly trespass
ing on the track, and generally in state OF inox
icatlon Great efforts have been made, and many
precautions used, TO warn and to prevent all per-
sons from walking on the roadway. II Is much to
be regretted that these timely notices
stantly disregarded, and it would seem 10 require
some legal prohibition 10 protect both the thought
less intruder and the company from the consequent
cee of such conduct.
By reference to the statements exhibiting the ac.
counts OF the workshops, it will be observed that
they continue efectually to diminish the expenses
and possess even the far greater advantage of
curing by these facilities the greatest promptness
OF repair.
The double track railway, of three and half
miles IN length, purchased OF the Commonwealth
of Pennsy lvana has been relaid with new rails
and superstructure and the brid ge the river
sshuyikill thoroughly repaired and strengthened.
Such parts as required it have been renewed, and
the bridge is thus adapted for the use OF locomo-
tives, in lieu of horse power, Heretofore,
The entire cost OF this work, and Improvements
upon it, is S324,lS3 As. The advantages of this
purchase are already clearly exhibited, inasmuch
as the expenses on this portion of the road for the
past year have been diminished 25,S30 81, al
though a much larger business has been done; and
II viii hereafter show more favorable resuts,
until July last horse power was required on the
long bridge across the Schuy kfila heavy item In
the transportation Of an article of great weight.
The managers have not yet avalled themselves
OF the authority given at your last annual meeting
TO dispose of bonds other securities amounting to
800 900, TO meet the lnstalments then coming due
to the State, and Tor renewals and improvements OF
this road. With the knowledge that the interest
tor the whole year on the entire debt of the colnpa
ny had been realized prior to the 3lst July last,
they clt that II would be all nustilable sacrifice
TO dispose Of bonds at the current market prices.
They regarded 1t as far the better policy to make
some temporary sacrifice to obtain the means TO
meet tnOse engagements, and e5pcClalIy as tney
cannot yield their conviction that the public must
very appreciate the intrinsic value of these
Curties. This belief has its origin in two facts the
one, that the of the article upon which their
value depends is not OF choice but OF necessity, aug
menting in its consumption with all the improve
ments of the age; and the other, that experience
has demonstrated that it can be delivered by this
company TO the consumer at less cost than by any
other work.
The instalInents to the State which have matur-
ed, and the renewals of the road and bridge,
amount TO 1924 ,f70 81. The remaining payments,
for which the notes OF the company have been Civ
EN-, are S99,7l2 i6, which mature in ten monthly
AS by this purchase a large economy in the ex-
pense of transportation has been attained, it has
been deemed proper that the expense Of obtaining
The requisite funds should be charged to the in
come account Of the years and this accordingly has
been done.
he asses Of the company have been again
valued. There has been some depreciation In n
portion of them, while others enhanced in
value. The accruing interest however, has not
been sufficient TO meet interest paid, and TO cover
this deficiency and provide for any depreciation Of
the assets, il has been deemed proper to appropri
ate the surplus dividend fund oflSi9. amounting to
l9,757 O9. for these purposes, for which it was
deemed sufficient.
The "debts due the company include those in
CURED In the current business, and Immediately
available, amounting to....,....,.. SOS Ill 02
Do. abundantly secured by real estate. 95,003 80
Do with securities Chiefly of real
tate) .....-.....-....-.. S2O9,22O 73
Do without seouriy.,.... 64,sI5 10