Vermont watchman and State journal. [volume] (Montpelier, Vt.) 1836-1883, 1853-08-18
Vermont Central Railroad Company.
EXTRACTS FROM THE EIGHTH ANNUAL REPORT.


EXTRA CTS FROM THE EIGHTH ANNUAL REPoa T.
On the LIST day of July 1853, Road and Equipment
stood charged, on the Books of the Corporation at
SS012,2 los. This amount includes all interest on
funds ra 'sed for construction purposes discount on
Bonds loss reduced and forfeited stock overpay-
ments to contractor Belknap loss made in settlemen.
of Mr. Quincys affairs, payments account of the
Vermont and Canada Road, and cash expenditures
for work and equipment land and damages, and 9TH
er items of Construction up the date of this Report.
The actual cost of the Vermont Central Road pro-
per- and Equipment has been 1854, 70406 leaving
the large amount of s24j1,57699 representing the
sacrifices to raise funds, overpayments and losses in
settlement with insoyent debtors.
The Directors have it in their power to congratu-
late the Stockholders, that however lamenable this
exhibit may be, the true facts known and now
before them.
The amount of Floating Debt has before been sta
ted III this Report and in abiding to it again. in
nectou with general statement of the Liabilities of
the Corporation we desire simply to say that it falls
due in convenient sums during the next twelve
months. The total Liabilities of the Corporation are
in class and amount, follow
Capital Stock, 100000 shares, 100000
First Mortgage Bonds 100000
Second 1924 BOO
Bonds due ia 1852 10000
Bonds due in 1856 213.100
Interest due stockholders payable in Bonds, 266O69l
!
Notes payable, 22L1G273
Coupons (ess cash On hand for same)
The Directors have thought that it might be of in
terest to the Stockholders to know the result of the
Traffic operations of the Road from its opening to the
date of this Report 1t is as follows
From July lst 1S4S to July lst 1853, ) years
Receipts from Passengers Freight Mails, Ex-
press and Rents, $l9I6,625 50
Expenditures for Transportation Department
Machinery, Way aud Miscellaneous $l,I9S, lSIS4
Nett Earnings S74s, 437 90
From this amount must be deducted the Vermont
and Canada Rent. and Bond Interest, accrued during
the same time, which was S64S, $3.50. leaving the
amount of S99,S52l9 applicable towards paying the
expenses of reconstruction and repair Of the Station
premises and Roadway destroyed injured by fires
and freshets, which amounted to $l3l,35104
From the above statement appears, that the nett
earnings of the Road up to July lst 1853 besides dis
charging the Rent and Bond interest blgations of
the Corporation, have nearly met the accidental con-
tngencie to which we have referred which constituted
a charge Profit and Loss account properly until
the surplus income of the Road should provide for or
make good the loss.
In presenting the Traffic statement for the year.
ending July lst 1853, the Directors beg to remind
the Stockholders, that the Traffic Department of the
Road, from heretofore mentioned, has been I
subject to Inconvenience and expenditures of an ex-
traordnary character, which we hope may not affect
Its future operations. The Receipts compared with
the year previous, present a encouraging gain
being about 30 per cent especially when it is rec
objected, that the Western produce traffic, during the
Spring of this year. fell considerably short of last
years. This is attributable, in part to a very disad-
vantageous contract entered into in February last with
the Boston and Albany Line, which established rates
of transportation almost prohbory in their effect up
our business. Under this contract. we were bound
to determined rate of transportation over our whole
Line between Lake Ontario and Boston, while the r-
val Line having lis Western terminus ON the Hudson
River, in position to avail of any reductions on
Canal rates between that terminus and Lake Ontario
The adverse operation of this circumstance to our in
terest is not chargeable to the Boston AMI Albany
Line, and indeed beyond the control of It's mana
gers. 1t is mentioned here only as a reason which
justified this Corporation, in connection with another
having a common interest with us, in terminating an
agreement SO palpably uinous to carrying trade
From July LIST 1852 to July lst 1853 one year:
Receipts from Passengers 200 S3s 20
Freight 45237375'
Mails and Express I7,79777'
Rents 2,12S 10
sos, i37 81
Expenditures:
Repairs Of Road 81 AS 10
g -" Locomotives 522lOO7
Passenger Cars 1861 q3
4" " Freight Cars 30 $50 39I
Miscellaneous Expenses, viz Fuel, Oil,
Waste, Repairs of Depot and Furniture
watchmen, swirchmen. Station Agents 2l6,7s Go
Helpers, Transportation Department, and
Offices ia Boston,
s429s6542
Nett Earnings $3.50, 573 25 -.
In this connection, will call attention again to
the fact that during the past wear eNtraordnarv cam