The republic., 1852-01-16

The stock and bonds held by the company con
sist chiefly OF those bonds ayable in 1862 which
were appropriated IN $40 10 settle the then float
ing debt For reasons already stated, the man
agcrs have not thought proper 10 dispose of these
securities.
The increase Of floating liabilities amount, To
5Ss ,222 81, which Is represented by the following
assets, viz:
State railroad. 1924 ,ls3 -
Real estate purchased in 5l......... 9O,ll6 OF
Suudry assets now secured by real es-
tate worth the camount............. 1907 %
Increase in materials on hand for work
dhOps, NC. ................... 81 $50 b2
Increase in stocks and bonds held by
the company. ..................... 32,lO5 10
Excess Of debts due the company in
current accounts ts...............,... 3O,723 29
S5ss, ,222 "a
The very great increase in the business Of the
company rendered IL apparent that, for immediate
use, and 10 meet the future demand, moro track
room nj the terminus Of the road al Richmond was
necessary, and especially would il become essen-
unl, when new wharvcs on the present unimproved
rivcr front at that depot erected. II has not
unirequenty occurred that, in the most active
season, every siding at this point has been filed
with care, and more than two miles Of tho main
track required to be appropriated for the same pur
pose. To those who are familiar with the very
rapid grouth Of the borough Of Richmond, and
particularly in the immediate vicinity Of the i'm
proycments Of the company, il need not be stated
that the delay Of one year would add most materi-
ally 10 the cost Of ground required tor such pur
pyses; and those who arc not thus familiar with
ths subject need only be reminded that if public
attention had been called 20 the absolute necessity
Of such additional track-room, the cost of acquir.
ing il would have been materially increased.
The managers, therefore, felt II their duty to
sune tho responsibility Of securing additional
ground 20 the extent Of fifty feet in Width for
tracks from the wharvcs 70 the engine house.
distance Of about one and a quarter miics
Induced by the same rcasons, and influenced by
of n ato h,td 70 ttofr
nual meeting, directing improvements on the rail d.
road purchsscd Of the Commonwealth they have
secured suihccnt ground for a large passenger and
merchandise depot ut the corner OF Broad and Wi.
low strccs, which, when improved by the erection
Of suitable buildings, will enable the company to
start the trains, with the locomotive attached from
thc very heart of the city, and entirely avoid all
the expense and delay necessarily incident 10 the
use u horse. power. Ihlt, even with the present
Jassguger and merchandise business is most de-
slrablcj but ifit Is permitted TO look forward TO
the completion Of the great lines Of road now pro
Iccted, g. connect the wOrks Of this compauy with
others extending 10 Lake Eric, to the completion
yi the Lebanon valley railroad, the connecting
hnk at Reading with the PcDnsylyauia railroad, ,
extending from Harrisburg to Pittsburg, and thus,
with various lines westward, tie policy and neccs.
city Of securing such advantages for present and
future purpJsrs cannot be doubted. A few months
might prevent their being obtained at all, except
At such exaggerated prices as these prospects
would command.
The managers arc, however, able 10 state that if
ths acqgi-ti, Of this real estate docs not meet
your hearty approval 10 can De at once disposed OF
without lpss u could not be again purchased on as
favorable terms. Should il, however meet appro-
baton, provision should be made for its payment.
Some lea Tote of ground, al other points, which
t'e conprty had heretofore leased, were offered
ior sale aud purchascd, their usc being indspen.
sable.
1hcsc purohasc amount TO S90,lI6 o. inde-
pendent Of The mort gogcB and ground rents for
| SIS 7OI
The bonded debt Of tbo company is reduced by
the Investment ol tuc sinking fund SlI7 500 there
having boon cr.invested in previous ycars : l. .
go ~.
The managers, not having disposed Of the bonds
on other sc uriu,s authorized at your last annual
meeting Tor the reasons already assigned and hav
ing obtained the very valuable real estate hereto
fore rcicrrcd 10, tho company is thus eft with an
incrcaecd Heating debt, and the important qurs-
ton naturally arOsc to the proper disposition OF
The surplus prohts.
Two years since il was adopted as the perrna-
ucnt policy Of tho company that the profits should
be annually divided il was then determined that,
even If tho assets did not equal the floating debt
other provision should be made for lie payment ra