Wheeling daily intelligencer. [volume] (Wheeling, Va. [W. Va.]) 1852-1859, 1854-11-10

liquldaled and The means Of obtaining The necss.
sary capital iog that purpose can be provided on
reasonable terms
VheRoad hnsnow IN operation 9lmes 296 feet
Of second track Oh which ~ miles ,80i feet have
been oomplsied during The past Year These SD
ings are iudcloutly Arranged u The most desiiaDle
points. IN May lasl the Boarddem0nslIaied, with
but notllon or these 81 miles in use and with
less than lis present Iollilg powell, capacity for
an annual business Of FIVE millions Of dUllaIs.--
With The increased passenger business now rsa.
s0nably anticipated, and With an advanced ToriG
which the common sense and judgment Of the pub
liz mind demanded, results, witltthe pTesrntpOw-
er and capacity Of tho Road Under tie change OF
policy ugeli Of the'mosl sfalilYng chgThclermus
ocOuE
We learn from the officers Of the Road, that
some additional WaleI stations and engine houses
me deemed very de5irabls dufing the pfesentyear,
AS those which are regarded as essential, viii not
according tothe Information before tue committee
exceed IN cost : 10000, we do,mi ipIieious NJ
oneT 70 close the construction account ond HEREBY
al once give Improved lone aud condolences to lhe
finances Of The company TO advise that any SuSn
expenditures as may become necessary shoil =,
made from revenue. IT Is due 10 Ties ocknoloes
10 state, that with tie alterations proPoseg ~ lIle
account by Transfer Of The discount on 1850 ponvs
from profit and loss 10 account OF capital ABOUT
Two millions Of dollaIe will have been Invested OF
The net eaTnings Of lheTond on us Oonh Iue oup.,
tall in real estate. foli0g powell slot wnlen llo'
t,preseniel by either stock or bonds IllS SUM
AZ 4 future and pfoper neTiod will be legilmalely
a object Of diSisi II among the stoot holders.
AllOf which Is ryspeotlully submitted,
JOHN w. GARRErTi
WILLIAM MoKIMi
HENRY Il. WILSON,
H. HARDESTY.
The undersigned c0mCuTs In the foregoing le-
mort except IN so arns lis charges aso the repairs
Of the past yenr the entire srm OF SlA1i26T ~ the
excess IN value ascompaIed with last year, Of ma
lrTiol on iando
In his opinion, only 50 much oil that amount Is
10 be considered Is belonging and chaIgablH to tile
repairs Of lasI year as WIS requisite 10 complete
She le.laying Of The ~ miles Of tack, ordered by
the Board, but not executed in consequences Of
sickness on the line and other accidental causeS.
Tie cost OF Te.aYng these 10 miles, according 10
tie statement OF Tbs Road Master laid before The
committee, would have been 500, 921 90, which de-
Quoted from sl41,226 n leaves S6l,3200l II Dc
credited 10 the next levenpei Of lhe last year IN
addi n TO the sum OF $751; CAT SO, at which Il is
stated in tile foregoing report,
The undersigned concuts in so much Of the fore
gong report as has relation 10 The Items therein
mentioned as having been charged TO "COnslIuO.
"Repairs,"-nnd in SO much thereof nsTroommend
that the discount on the sale oil The bonds rvdttm
able in 1885 should be charged TO the account Of
"COnslIuolion,"
| also coucut the recommendations otlhe COM
nittee In regard 10 the closing oil the construction
account; the suspension OF present Of the S, cond
iTacki anu tile ChHnge Of tho determination OF the
fiscal yeat, aud lie COMEDIES in opinion with tile
test Of the Committee, that Tie balance Of Tie pro-
fit aud loss account Is leg finale subject iOT dis
ttlbulion Gin slock) at some future period, among
WIN. GEORGE BAKER.
Subsequent 10 The adoption of the Report tile
existence Of an additional debt VI $4,000 was
accidentally discovered by the Committee, M
melnoIand TIN from the Maslefof Machinery which
had not been previously submitted. THIS amount
does not appear among The liabilities, although
very impOTlanl lealulei as increasing illus largely
the floating debt Of the Company.
TINS sum IS the remainder due for Engines Under
an agreement made October 10Th, 1858, the original
aggregate OF which was s348,0OO. stills is very
clearly and practically potion OF the floating
debt, II should be addict 10 The amount Of tile lIa-
III iles Of The Company, This sum being repre-
sentsd 10y locomotives in tie l'osseSsiun Of The
Company, should also appear in Tue general state
menl Of the Companys assels, Under on aPproptlaIe
head,
The elect Of the discrepancy Is oincIeOse The
liabilities during lbs ytaT on account OF conSlTuc-
ton from 81, Bs2, 489 10 TO $685. aud de-
crease the difference between tile actual value OF
Rolling Power Os nseeliained by inventory, and
the amount thereof represented US capital, from
s64lOll,6O 10 S42S,6lie0,
VIZ. MoKiM,
r3 % hERRY X. WILSON,
IL. HARUEsTY,
WIN. g, BAKER,
JonN S. DOANELL.
AS 0 memberofihe Committee, President HhTIi-
son declined voting upon Tie adoption OF The re-
port.
MT. Harrison. the President. then addIesSs1 the
meeting ON the points Of differ nee in his report
ami that oil the Cdmintiee tie argued that tue
materials bought by the Company, but moi used
ia ue pest fiscal " az were 10 be regarded as oapl
lal, and should there fore be placed amoig lie
earnings OIL The year. He also explained TINT the
account with Mr.. Winans was fr engines rented,
for which they paid a monthly rent and they
were not, therefore TO be charged as debt due the
Company, nor were they included in the assets Of
the Company. The contract with Mt. Winans,
which he read, leit u properly In the locomotives
Ia his hands until they wefe fmaly paid for. In
lhe course Of bis remarks, he lend The following
iableS ns enforcing his vews;-
Statement Of RsUrHue and EEPrnssS Of the Ban.
more aud Ohio Railroad Company for hs fiscal
year ending Stpitnubtr 30, 1854.
Revenue as pet Ledger balance, SS,6l6,609.43
E+pmSss undsriks following accounts, piE;
Expu's oflranspoHatOn, Ss62,s06 OF
Repairs Of railway 5T9.24096
bridges, Gl,l09.30
depOls, lS,38O.9S
water stations, l9,I97,42
Watching bridges and
pumping water, I5,7I209
Repairs Of locomotives, 290,6lI,86
passenger cars, 4l,S15.62
b.Iden Gals, i19,215.00
stationary ma.
chinery, 22,27S.3T
GeneTnl expenses, 42,82LS8
Losses by sooldrnt, &C., 27,l7S.l2
s2l7s,46s 90
From which deduct a.
mountTepohedb blythe
master oil road for eX-
TIA materials ON hand
TO be passed TO aud
used next yeaE l41,24T2l
-------- 2,O26.2lh69
Netreyenue carried to profit & loss. 2l,6I9.S9I.I4
Which exhibits the fol-
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