New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1856-04-14

heiderr without cot to them. During the current
year this road vii have the advantage Of tie crnoec-
ton with the TeTe Hsute and Alton Railroad, just
completed, with the Great Western and with the
Ohio and Mississippi. The Boerd announce one eourss
Of policy which they have decided upon, which Will
teId largely to increase the public confidence IN their
management. il IL their Infection 10 refrain, IN
future from ncurrrg any Obligations 70 other CON-
"panies however apparently advantageous, BY loans
"of credit, by leasing other Enes, or by any other
"ue,hod involving the stockholders Of this Company
in engagements not strictly pertaining TO the pur
"poses for which this corporation was formed
In addition TO the lands sold by the Company, the
Government have sold 1900, 900 acres IN alternate
sections with the Compsny's lands the settlement Of
which will bring large amount Of traffic 70 the lease.
The only obligations 10 other Companies which the
Illinois Central has come under the half Of the lease
Of the Joliet Cut of, t4,5OO = annum An agree
eut in common with the Gaena and Chicago Railroad
with the Mineral Point Railroad Co., 10 make dis
count Of 30 y cent on the business which goes over
100 miles Of tie Illinois Central 10 supply any decien
CIV there may be in the earnDgs Of the Mineral Point
Road 10 meet $50 900 q annum, and q loan Of
$500 600 10 the Ohio and Mississippi Railroad secured
by $500 0CO Of bonds Of which loan one half has been
adjusted and the balance is covered by the security.
The Liquidation Of the bonds Of the Company from
the sales Of lands will commence next year. The
funded debt is 600 900 construction bonds secured
nv 600 600 ceres Of land. OF these bonds s7js 900
are On hand and s. 900 600 free land bonds secured
by 345. 600 acres Of land Of which 1916 acres
already under contract at an average Of 1854 per
acre The ASSESSED stock Of the Company is held by
SIS stockholders. The assessments have been go per
share, which has been paid up l29, 256 shares. OF
the road 627 miles are in operation, Of which lss
ballssted. The remainder, n miles, connecting the
Chicago Branch at its south end with the trunk road s
in readiness for the rails and will be completed in
August The Company have laid 20 900 tuns
rails, (Gj lbs. TO the yard.) The Company have
secured ample depot grounds and buildings at Chicago
at an expense of about million Of dollars These
accommodations are used also by other Com
panies, and have yielded rent the past year
Of 7 I, cent on s75O,OOO, and viii yield in 1856
more than y cent on the whole cost. The capital
stock is represented by no. 900 shares Of which $50
have been issued The entire receipts Of the Company
from all sources have amounted TO s2 6e7 442 and the
expenditures TO $40 574 446. The balance is hand
in cash. bills receivable and open accounts. The ways
ard means amount TO a. 6l4,215, including unissued
bonds and stock etc. The first letting of the road was
made on the 18th March, 1882 and 1872 miles were in
operation before the end of 1854 In 1851 only 90
miles Of railroad centered at Chicago; there
,OsG miles, There are 1888 culverts, bridges and
pieces of treste work on the line Of the road
The gross earnings Of the year 1855, were:
tents from other Companies for Of Road.. 105O63 80
Mails NJ TX 1928 y
Rents 56,3l2 IS
t99895 81
From " hich is be deducted amount
psid State Treasurer for Charter Taxes : 2975l 81
-, ~ ., e.s 90