The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1854-07-26

lo'al Sl02i3 $50 IL
1t win be seen, from the foregoing statement that the
constru cton and equipment the lines OF road siready
in opera ton have cost to this date, 81 TO- while
Ssi65 10 have been invested Ia steamboats,, deemed
necessary for pcrectng the business connections of tho
Compspy upon ale Erie u also appears that TO
this date sl56o,2s6 a have been expended upon the
new works OF he Company, while the corporation
bonds and mortgages and stocks, to the amount Of
$3.50, 900
The actual II stock Of all kinds issued by the
Companies on III July, was s549i, $50 81. Of this
aIoo,t IL appears thatthe old capital stock OF tho two
companies, amounting 10 s2,Sa45o0, heli by 552
d.rc thodors, and tho construction stock oe tho
companies, amounting 10 81, Sat 500 owned 6r sss
sharuhoders; the issue Of May loh not Doing iacuaed
l. Aesc sums The sum then remaining due tpssd
upon The Nay issue, s434 $50 %, II TO these aups
et l1l tho issue Of August lst Of s9oi 300 the acgro
cato capital stock 81 the company win 10 50 ss7
SEQ This of s44i. l59 o. together with the amount
% W realized from tho 10 BE- dstriou "A on
thc rrst Gay VI August constitutes the fund npoa which
nc 'onpany rely 10 complete aud bring INTO their
unfinished works.
fleso works are IN advanced state Of forxarjness
Te work upon TIE Jackson branch has been let small
see'ie n l1ien mites q the Inc ara completed andi
q fifteen miles more OF i ready Tor the rails,
,l.ch now being laid down, Thirty two ont Of the
forty miles OF the Branch viii be completed By fail and
the remainder AZ an carly day thereafter.
lhe Goshen limo was lo in larger contracts. Aessrs
II lols0m Curtis Thomas having contract for the
EASTERN 10 miles Of the road 20 lie peted by TIE
Grant be Ing the contract Tor the rcmander of e line
10 he completed by the lot day ri January next Over
forty miles OF the road is already finished, and the com
roton q tho whole Of il msy be confidently exp actea
X cannot be necessary here enlarge upon the npor
'ance The prospective value Of these lines Upon
hs point the ss annual report Of these companies
! Iull ara explicit
But may not be out Of place, at this tne to suggest
for tn consideration q the stockholders some data
which esabh hey ond al eoub the value OF the stock
which IS nov offered for distribution.
The gross earnings OF road Tor The first year Of
operanon, were ,-Vo92. II for the second year
7sl3,555 81, TINS showing increase If 50 por cent
IL assume that tho increase OF business the third
year vii only IS per cent the total earaiars from our
IL VII inrt he nal Inlv
1855, exceed ........ So. - s5a o0o
II from th' amount deduct SO per cent
lor 'APenses' ..,.-...,......,....,...,. $4,000
u viii leave - net earnings. ........... IL 5000
tednct nom this sun Interest Of $1,000 600 10000
And Il win leave for dividends .... 1900
Equal 70 over a per cent upoa s7,ooo,Ooo Of stock.
These estimates, IL viii I've remembered are based upon
our ne as 1t Is. The board entertains doa wat
ever tina; tho $50 mes Of now ros3 in process of
construction, viii praye rcnuncraiiYc in themselves
and add hlgeiJ to our earnings. Without attemptin
company, the board, from past experience and from
their knowledge OF ITO country trav-ed by and trbu
tary 10 their rosd icel justified ia xpressnc their con
bdent opinion that - 500 GOO is the minimum of the
gross earnipgs Of this company within from the
when its limos shall be complsted and brought
into nse II 30 per cent allowed for expenses and in
teres upon 81 600 600 il deducted there would si be-
left s9ioo0O FOR dva.nds, equal to about II per cert
upon ~ o0o 900 OF capital stock Here is margin vile
enough for satisfactory result la any proBlbe con-
tngency and dismiss the subject with the single
that beFctofore al eur published estimates OF
pfoht have hen exceeded b. the actual results
case. = - ~s- - ''
- IN earryHg out the general object OF the company
w canstrue.'on OF railroad communication between
I-1se tne ant Chicsgo-we have aimed not to be d.
Nerd from this general purpose nor drawn into other
ana ertrsneous enterprises We have actcd pou
tns poScy and have only departed from Il in ey in.
stances where ieportant considerations la the piuon
OF me board Justified and dem an ned such couree For
example In the carly history ~ tho Rock Isand Rail-
road Company this company awaited itself Of tho sarter
o. tat compsny TO proeure the yht Of way through
portion OF Illinois, and, BY aranAvment with it, sub
ssdoed for its stock TO he amount os 500 600 por
ton o. this subscription c1pandot in constructing
our own bne IN iioois and portion Ut invested
10 the stock OF that company which i Wv held by us
Ibis subscription was, ~ the lime or very great fmpor-
lance TO that Company u enabled 10 per vt its orga
nston and aided essentially in giving IL ii " Impetus
WHICH hss carried it,swthn two years, TO N 0sperous
,nnpeiion. The completion of this important his
rot only rendered the stock which took In II good
'rcpsrty, bot has also cpeoea Ia nearly 100 aiies
railroad Communication from Chicago 10 the Mis.ts
i9p Biyv, which = nov daily seeding large rNi5a
Fafc, wbIh gathers from the lar West Zoe
rom Chtsgo - lake llrse. I .H = ST
aa,iog, = riein' 4 ne Als s,anl roat, rsa1r0is