The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1854-10-17
1921 $50 10 sssa ole 80 $685. s2e7s sss oa

900 10 <eSc eZ,oIso5o
Owing to these fesv ps,norts, maturing in such
proximity the company feunc themselves 10 critical
situation fter Blaming ABOUT $3.50 600 sccep
by various mcu bora OF your board secured
by Of The bends % 1883 they scut ID
three mortgages as followocne dated Auguse 2o 1851
to Con- ous Vanderbilt, tho road franchises 60
him endorser their ACCEPTANCE to the amount
cf $500 900; one dated AUGUST % 1854. to Cornelius
Va pdcrbt $50 locomotive, 1895 cara, pa.forni
cha,tels of the company. TO tho ssns aud
dato1 ugust 81 1854 70 aniet 1re escrc him
for sceompods tion nosee and cnoorarnents {, the
rnonnt 1881 ltS 90 ana tor oil fu.rrs snts
tho whole net to cxcood 00 eoo at suy tiro Tho
liabilities secured oy thee mortgages by scoe
dve "a Thus, while he Let sarpiogs Of tho rad for
the quarter And est nndrcd thnus
and 10 lars and tn prospects more favorable
The future, tho company force by sdnC
heavy payments into time OF great lie preston aud
want OF doence, to pledge at its avslIa bic q
meet RAJ. Of its floating tebt nno its stock aud secur
tiea wero lsmentssy deprcsia'od IN consequence
Tho measures adopted gave tho sssry porsry
relief and ia the opinion Of 6naa ce, ofcss that
that the contracts for rolling s,oct which increased the
present heavy floating debt, either pcary mpieed
cancelled. We ass,,ei that nsx cousrscts
have b. made since Marc last sno that for seventy
Eve engines contracted fer meet tn necossites Of 20
roso The oontrrc,s for tytSo h4ve hesn cancelled
vth tAe consent OF The tact ~, and sixteen
to te delivered This a,apscmc. has checScd the
incessr Of TIE floating debt and If tn pocs BE- rnsst
Cd the affairs Of tre company win 1000 DO put on
toUbder basis In our juogment IL 10 better 20 psusc
where yop are until sdotons b. m.de st less 20
riace Of The II eans ard credit Of The ecn ANY.
CONSTRUCTION AccoCvr
On The Goth Sept, .s52 tbs conswuction
account amounted 70 (A)........... $36ss' ,5fe 10
Acitd 20 Sept 30, 'b3 ts). - ,257 ~
Added 10 June so, a. (c) 165f,i2t So eo3ss7e ~
Total June so, 1854 10 ........... ss2.se,s6e Of
The superintendent states that he deems II
sFakrutally re-cseary tia a,icG w0rkirr o.
De Iosd that tbs res~aro river bsiIse, toe encins
housed add turn.ahe ct Port Jervis AID the eng
houses NJ SUI Gnehanoa tho canuecon OF tho MAN tract
with Centre street pier ST punhi'k md tnc switches
The es sc5e division, should b. Completed, which will
involve an outlay OF about $40 600 y
IN expenditure OF $500 val cpmpIete the nd track
on be Union Rail cod Tho loo ,rnot,v-s and for
which the company still hsbe in addition 70 accept
antes amount to s2ispo0 and $4,000 oil required
TO complete the Nevtrsini brF &c, sbch Il deemed ion
portsnt though not tseeninl IL 10 b-ievod that rcst
may then to ado 10 the sruc Ion Mt We deem
this behy dosiIale rd Teeo nnehd that The constr &c
lion scconp closed and that fusafc addti ms bs
made from csrrn,s
ADDITIONS uB ED, TRACK. CUTTINGS yxnAyFtnSTa
BOILING srccx. 40. SINCE sgpT 81, iSb2
Uayi ascsrfapeu ihe i,cTessed ipocoe n~es OF the
oorapy and the oot Of tho road sloce 800
isnber, 1881 ard hsvirg learned tho prnepe sovsrn'
log distribution Of accoupts our neat inquiry VS.
Concerning the expcoourv ~ this iavs sen Of money
On tbis bead oerepd entirely upon Information De
ristd fam a. General Snperiut bttnt, IN re iy 10 our
que stion, which retntn be cs'fh. (sppepcx IL IL
sry topographcai formation be reco>aars 70 TIA cs
pshtnsion Of his returps sisy b. foufd 10 tho rcc-
tori Report to the stock hrdtrs In kovomber 1903
The next paurni IpqUiry concerning TIE property
Representing this expfI dituse
Fhe compsny pr tnef az hroa' Edsg' road abi
niss In length. havicc t-rmipi on Z Huotcr ~ Nt~
burg ssd Pssrmont ard trio 'fNes at lEntiek. rad
connected With New ors At jersey c,ty " tho Vson