The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1856-06-23

sr.,,. 90 % Way S 81 a. a sS !; ., Dc =,
Circulation ......... $3.50, 09A ss34.6l9 las. AS
Deposits 13977,525 13,5+0,5l1 42s, Ola
Short loans. .16554,359 16,433, $50 16o,s20
Due distant banks. 1,06l 500 $4,000 l67,376
Long and short loans May 81 $23 4s3 30i
Long and short loans June 1........... % 433 1877
Actual decrease or loans for the week $40 so7
The actual amount Of specie in the vaults Of the banks
| is follows
Coin in the vaults of Bank of Louisiana. 50 oe2 se5
. Louisiana State Bank 49,. 1,5l2s02
" Canal Bank. .......... $50 POT
g Citizens Bank ........ 2, 493 BAT
. Mechanics x Traders Blk. 26s 6l7
Union Bank. ............ 3a5 5A
= southern Bank .......... 1856 Alb
9 Bank Of New Orleans. 22S 632
Total 81, rs 497
Amount on han May ACKNOWLEDGEMENTS 1869 or
Actual decrease for the week slso575
The ninth annual report of the Galcna and Chicago
Union Railroad Company has been prepared for publica
ton. We give liberal extracts from it, that those interest
ed may be better able to judge Of the value of their
vestment -
GAIESA AND CHICAGO UNION RAILROAD.
The total length Of road and branches is follows:
Main fne-From Chicago to Freeport, includ
ing the East .4gin branch, to connect with
Bcloit branch-From Belvidere to Beoit,
meeting with the Beoit and Madison Railroad Fl q
Chicago, Fulton and Iowa lnc-From the juno
ton, 80 miles west Of Chicago, to Fulton
Chicago St. Charles and mississippi Air Line
Rairoad-Now controlled by this company,
from Oak Ridge to the south branch Of the
Chicago river, connecting with the joint track
Of the Illinois Central and Michigan Central
Railroad Companies. ..................... 101s
Total .2591s miles
first Of the last fiscal year (Aiay /, 1850,
Expended during the last year, including the
amount expended on account OF the Chi
cago, St Charles and Mississippi Air Line
Railroad. 1876 $50 80
Total expended .................s7.7 42, el3 IS
The funded debt of tho company is as follows -
Second Division Bonds outstanding ...... So, 500 90
First Mortgage Bonds, maturing lsss.. 1887 900 90
IAchfe,d Bonds (St, Charles Air Lne), ma.
turing 1857 and 1859. 1873, $50 IS
Total 81, s34 $50 s.
The floating debt is siss 2s7 60, portion Of which may
be funded ~ the issue Of Second Mortgage Bonds op
portunitv offers desirable rates
$4,000 Of the First Mortgage Bonds-which
held as collateral to $50 ooo-of this debt will be sold
within the next three months, thereby diminishing tho
debt to $3ss s3 60 and completing the issue Of s. O0o
First Mortgage Bonds
During the year the negotiation pending with the Chi
cago, st. Charles and Mississippi Air Line Railroad Com
any has been closed and the depot grounds Of that
company, the south branch of the Chicago river
rack to the Dcs Plains river and other property have
been placed within the control Of this company. The
amount expended for that purpose which is embraced in
follows
Amount paid and liabilities assumed to acquire
possession including interest ........... $54s 3Si IL
Amount expended on the grounds, track, &c,
SINCE acquired. IL, 1876 ~
Total $500, $50 81
Up ~ the present time that property has been used
almost exclusively for the benefit of the construction de
partment the steady increase Of business your
roads demands that il should be placed in condition 70
accommodate general business but particularly
facilitate the large lumber traffic the magnitude of which
cgpn v "A nj IN
In view OF the fact that all previous estimates for add
onal expenditures have fallen far short of the require
mcnt of the increased business and demands of the
try tho directors do not present any further estimates for
future wants; but is proper TO state that tho rapid
growth OF so large an agricultural country must be tri
butary TO your roads w no doubt, render additional
double tracks and other improvements desirable at no
distant day in addition 70 the necessary expenditures al
luded TO in the report Of the engineer
by reference the report Of the Secretary it will he
see that the gross earnings Of your roads for r. the pa
Interest lceivcd on deposits Sc........ sS6l 81
Surplus, May !, 1850. acknowledgements. sl5754 As
Total. q, GAO, 4O3 &c
And the expenses as foows:-
Operating expenses. ......s1,o 6s ~ So
Salaries I'd interest. ......... ia, 500 80
Dividends during the year, y
Sinking funi cost Of 40 second
mortgage bonds, at 81 3d. 900 0o-s,259 - 81
This shows an increased surplus of sos OoO after
paying p cent in dividends and all expenses and in
tercsts properly chargeablc to income account.
The gross earnings for the past year exceed the estimate
made in June 1855, by $500, 900. This increase
may be accounted for in great measure, by the high
etnigrauon 70 new Western states and Territories.
The cost Of operating the road has been trc less than
pr o the II ar ne ind
March made probable that the per centge would be
much greater. That account includes about $53 600
the uaCk About IL 72s have been credited track re
pairs Tor refuse iron on hand for SALE shc remainder Of
the iron taken has been repaired and read in repairs
and In side tracks &C., except such portion
| band TO be used for thaa purpose.
new and much more permanent and expensive bridge
hos been Constructed tho north branch OF the
Chicago river, y cost Of Sl1 600 and several substn
ua stone culverts have been substituted for the wood
culvers originally constructed on part Of the line These
have all beeu charged 70 TO the current operating
| pcnsee.
with the purchase of $40 600 Of the secopd mortgage
bonds Of this company, a. SIS cents on the dollar and
the sinking fund credncd Tor the same at par Inc -
the terms Of the mortgage, and lodged with the trustee
The amount Of bonds registered BY the trustee on the
The directors beg TO call your attention TO the
cent passage by Congress Of the Iowa Land bp Th,
appropriation being in part or roads terminating at sucl
points on the Mississippi river 70 be feeders TO your
roads, will it is believed tend to Increase the value
| your stock,
advantages this road will derive from its
nectons and arrangements with other roads and com
panic but respectfully refer you 70 the report published
Iaycw Of the deprecated value Of agricultural pro
ducts since termination Of the European war, and tn
probable effect upon the freight traffic OF your roads,
do propose 10 estimate the revenue for tho curren
fiscal yca over that a the past ycar-sy 81 900
| Less Tor operating expenses
| and renewal say ~ l57 500 90
Interest on bonds 6c....... 10000 COL s77,5oo
Net. say.......................... s937 500
| Add present surplus ........,...',.,,..'.. ooo,ozo
Showing net balance May !, 1867 o.. 81 ,3ls,12 4
l 4..Tt.. -. 49,