The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1856-05-12

Amount on hand At declaration OF next divi-
denc arg. l. 1906. ACKNOWLEDGEMENTS. 1904 l29
This result Is arrived at after providing forthe most
liberal expenditures for construction account &C. after
qudating the entire floating debt dividend cerifcs.es
&C., &c. We have doubt many holders of the dvi.
dend certificates avasd themselves Of the companys
offer, and took stock for them in February last So
the cash surplus May larger than figures show
The extension rather cut to Egn has not
commerced therefore the $500 COO estimated for thas
expenditure IL not required
In connection with the above estimates and rennsrks
We give y communication which appeared q few days
since In the columns Of contemporary relative to the
position and prospects Of the GAena and Chicago Rail
road Company. The writer signs himself "The largest
stockholdsr in the road dates his communication
at Chicago, the company's headquarters From these
facts should judge that he we'll posted 1t is
impression, however that the writer is mistaken the
amount of the issue Of bonds. He has put it down
at 81 goo Geo. and have put It down at $500 OoO If
his statement lie correct 1t will be essa'y to add the
proceeds oOo-to the balance in our estimates on
hand August l, 1856.
The GALESA AND CHICAGO RAILROAD
As there has been some discussion respecting the
tual financial condition Q, the Galens and Chicago Rsl
road and time will yet espse before the annual
report ,ppeas, viii here supply the information which
the public require.
First What will be the cash payments of the CON-
pApy fer the fiscal year ending May l. 1886 The en-
gneers estimate in May last for completing and equip.
kns al The roads Of the company was s75 ooo-
track to the junction. But in this included S2O 900
tor interest construction account and $500 900
line from Cottage Hill to Elgn, which will not be
needed built for several years. Under this head
therefore, with the road ete and tbs construction
only sa55,O0O for the whole Of the floating debt paid
OF, 1921 Ss8; for the dividend certificates issued in
Feb 1850 and paid s of Feb 1885, ss s for in
FIR the cash dividends paid 10 August 1885, and Feb,
1855 s47o COO Total cash payments for the year end
What have been the cash receipts Of the year. 1t is
known With sul cent certainty that The receipts
from the road traffic for the year ending May will be
fully 50 AGO. OtO. From this deductlng 40 per cent "a
fu allowance for this road for operating xpenss
there remains 81 44o coo Of net e,sh receipts or above
freight and charges SAT Oc0 from the ostock
of 44so shares At par, 200; from 81, 900 900 of
cent $50 co., Total cash receipts q the ye ar
s2,7l2o00 or s476,779 than the total aisburss.
ments for divdends, construction and for oil other pur
pores.
tbs Balance therefore has not been stolen 1t win
be on Land in cash or cash assets the st Of May aext
and this too, observe with the road completed oat
ing det paid Off thus showing by far the soundest
osi conai ion OF any railroad in this country The only
s22O OoJ due in 1857 AID 600 due in 1859 Tor The
purchase OF the Air Line" property" and to meet
those there are Sill eco first mortgage and 81 600 Coo Of
the second mortgage bonds yes unsod besides $500 900
In the bords tf other companies reference last
annual report will show you that the foregoing gurss
sno ae shicNy AScuAdse III eNefy pkIucu
lar
The receipts of this for the quarter ending May
will show increase OF at least $50 600 compared with
last year The receipts for the quarter ending Au-
gust l, will probably show increase of at least
$780, 00 But calling them the last year, when
that quarter will De at lesst 100000 Adding this
cash balance hand the LIST of May next (S576 79
there will be hand in cash assets IL it stolen or
wasted, S976779 the LIST of August next which will
be ample to pay semi annual cash dividend Of 10 IL
per cent at that time and leave very large surplus
hand That such will be the action OF the directors there
Is net the slightest doubt because according to their
showing there is 'ad 10 construct because
the cost Of past construction has been fully qudated
because the bonded Of the road ample for
any future contingency and because, under oil crcum
any further diversion OF the legitimate profits OF
the stockholders to construction account would be not
only unnecessary but grossly dishonest. These under
Of Managers No one here doubts that the recspts Of
the road will continue TO show very large increase
THE LARGEST STOCKHOLDERS IN THE ROAD.
CHICAGO, April, 1856.
Tie value Of general merchandise imported into this
pert during the week ending and including Friday May
Dry &C ODDS. 992 $50
Iota imporAuon' ISIbol
The exports in the same lime we're ~ fol.
lows
General merchandise .......,....$l,4 02 1888
Specie. 10,I00-Sl Alb lSS
Excess OF imports over exports. SO 374,386
The following is comparative statement of the value
Of exports from the commencement OF the year to