The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1856-01-12

of the income s267, $50 O3 was from passengers ON
from Taunton Branch 952 81 stoughton Branch
81 623 Ga Norfolk County Rail- Dad 81 473 OF. Making
'o,sl Tor passengers Of From freight on main
to ano ON, s23 416 TO- stoughton Branch, So, z4 sS
Ne olk County Railroad s5,s4 IS; making total from
FIom July, 1854, since which time no dividend has
been made 10 the present time the net rnings Of the
been the credit Of the depreciation account
viii ms kes the net profits 1887 0l3 g. which, after
heepog he road, bridges houses &C., in com olete
pti msass the earnings amount to almost precisely six
pea cent per Daring this period there has been
sd Tor the purchase and filling 10 of land at the Boston
sta on the Of Ss5 Sal o. and for he construction
track from India Point Fox Point, in Provi
denoe, the of s13 100 g. There has also been
S,0,22, 40. The cash and wood and material band
November So 1885, exceeded that land May 81 1854
BY s5S ST. Al and the indebtedness Of the corporation
has been reouced during the eighteen months by the
ls54).
vernber last was folows:--
Bonds falling due in 1851 and 1892. slS3 600 90
Notes payable and all balances due from the
corporation, less balances due them 167, 70b 25
The corporation owns real estate, not purchased or
needed fer the purposes of the road of the value at
least of $50 GEO. and has hand wood and iron of the
value Of SIC CO.
This Is of the Oldest railroad pahies in New
Ergsnd 1t has large local and through travel not
outstanding which 1t has not paid dividends for the past
eighteen months The report holds out hope for the
future. 1t says
TIE Directors have not thought expedient declare
divide nd at the present time. The earnings of the road
been applied above stated to the payment Of the
cebs and to the increase of the property OF the corpora
zion. If dividend were paid the floating debt would,
ecesssry be increased by the amount Of the dividend
the directors have authority issue bonds with
out the sanction of the stockholders II the business
the road should be successful during the it
has been the past year. should at its close be free
nom debt excepting the bonds mentioned above; should
have on land amount in wo<d and iron equal to
y three per cent on capital and with large surplus
applicable to . dividend. Whether, thus situated, il
would not be expedient to declare dividend July
nex will be for the then directors stockholders
ter mine.
year or two been especially drawn 70 the question
whether these corporations charging sufficiently
ating prices tor the work done them and is
believed that q strong and almost unanimous public
opinion is prepared to this question the
negative 1t now clearly that in the origin Of
there enterprises, just idea formed Of the
penses which would attend their operation; that
tirey inadequate estimate made Of the Of
depreciation Of the property from year year. and that
the prices established for the transportation of freight
and passengers have not yielded fair return for the
capital invested.
As roads multiplied their projectors learned
nothing from experience of the older corporations; the
some mistakes made and the large and tly
increasing number Of railroads helped to form public
opinion which 1t extremely difficult IL not dangerous
for any one corporation to Ies The adequacy Of the
compensation received has been the greater and, Of
course apparent within the last years. in
equence Ct the largely increased price Of labor and
tes!s and there is reason to hope that those owning
his description property generally and that
their customers the public, will cheeIfuly yield to- the
necessity which demands higher prices tair
pen sation for the services rendered.
The annexed statement exhibits the alue Of foreign
dry goods entered 1t this port for pon
house, and also the Withdrawals from warehouse during
the week ensing and including Thursday, january TO-
1866
INV