The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1855-10-03

In account one cent has been provided for de-
preciau0M The entire net earnings used up in the
payment Of dividends This is not favorable the
statement we made few days since the business of
the present year. The above is the actual result Of last
years operations Now let what the actual result
is Of the fiscal year which closed the 30h September
1885,
NEW YORK CENTRAL RAnRoAD-1e55.
Gross earnings year ending Sept. &c. 1855, II
an months s. sssDtsTsss
Depreciation say per cent on capital 10000
!. gss se Sss S9s
i interest," 'u On 5000, COO Convertible -'
bonds at per cent 10000 "a, e40,175
Net earnings 81, 4oo, s25
This is equal to fraction less than Elk per cent the
capital (s24 0o Of the company The rate for
ming expenses we have put down at two cent less
than the average in <he State reported by the State En-
gineer. The gross earnings Of the New York Central
last year were only equal 81 IS per mc and the State
Engineer says that it cost the railroads Of this State last
year average Of dollar per mile to run their loco
motives At this rate the Central only earned 10 cents
per mile 1t therefore follows that the current expenses
we're IS per Of the gross earnings In 1858 the
company reported it's expenses at 1885 cent in 1854
at SO per cent in 1856 they will not be less than IS
per cent The increase in gross earnings in 1855 over
1854 has not been than five per cent that the
actual earnings will be considerably less. The net
earnings of this company have revched their cu-
minatng point. The gross income may from year to
year show slight increase, but the company have
to do a great deal work for the
same amount Of money and extra expenses will more
than absorb the increase in receipts The competition
the Central has, during the past year. been carrying
with the Erie must have its expenses up to
its receipts than before. Apart from this local
petition, have line through New Jersey nearly
peted, via which il is hundred miles nearer Lake
Erie than by the Central route The New Jersey Central
road will another season. be formidable competitor
with the New York Central for the through travel
saving Of hundred miles between this city and Ceve
land will be made by the New Jersey Central route and
route, both fer cheapness and expedition This and
several other causes all operating against this travel end
traffic Of the New York Central line, must compel that
company to enter still more earnestly into competition,
which, in the end, viii be fatal to it.
The receipts of the Michigan Southern Railroad in
September reported at about $3.50 those of the
Cleveland and Pittsburg at $66o00 and those of the
Cleveland and Toledo at $75, 600.
The Indiana State Auditor gives notice that the
notes Of the Plymouth Bank, at Plymouth State Stock
Security Bank, at Newport Traders Bank, at Terre
Haute Drovers Bank at Rome Farmers Bank, at Ster
ling; Agricultural Bank, at Mount Sterling; and New
York Stock Bank, at Vincennes-a of Indianawill be
sold at auction at the Merchants Exchange in this city
at noon the Goth inst These securities consist of
Indiana and Pennsylvania 6ves, and Virginia and Lou
isiana skies.