New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1856-01-03

Total. ........
Xxx
The President in his report, says:

In , 70 set through the States Indiana and Illinois TO
Cbirseowhere had chartered nights nhough euthord
G s Nrhisap law to use other roads IN those sIaesJ I'VE
Mere Obliged take considerable amount o me VI
the Illinois Central and wAlbany ana salem companies
which have caused financial embarrassment and some
direct loss beside drawing upon u much e3nant moe
stock holders who did not plIy understand ine VI W
connection nor the should derive from "a al
di'ioG TO our coneemcn b tbe roads Connection with
over miles Of fine country III Indiana and over Nv mics ID
If we have erred has been in first decision to extend
70 CHICAGO the have taken were the only ones IL oar
power when the time came 10 act . =, - 49,, H., H.. ,
1855 S74i 5SD is 40 = cent over the previous year IS
earn with ssie @ are TsndIv appToachng and leaving
1neI If binding second track 10 the consider
alton my successor may be permitted 70 say ahsI
cures which hold Of the Illinois Central aud II 70 DC
hoped at day from those OF the New Albany ahd se
We should put toward double track portion OF our
large earnings we may gradually lay down second track
without calling for further large Issues OF our own
Whether it be decided TO put down second rack
or rapidly would strongly that the time has come when
we Ought 70 begin accumulate fund tor contneencies
The President recommends the appointment OF an
Auditor to supervise all the issues OF Bonds and Stock
The Vice-Presdent in his report says:
Up 70 this the Of the road had been S7i s in
Guiding the two millions purcase money paid to the state
h Se in ALI that pertains to for the
carving trade Lands for the chicago terminus very suPe
or poon and very large cost have been ppIehased an
onse and large freight depot completed there
with and expensive sde tracks ana
in done beside large OUTLAWS on one new passenger oe now
enfralp Detroit
hundred and seventy thousand feet Of land have pn
chased having front upon the TyeI o. ~ iss ns mon II
which has brought all the CompaDys land al TINS terminus 10
seher giving O0O feet with riyer iront OF z Iee
~ additions ao have been made at the machine shops az
Detroit in part upon the land purchased DepoIs nave
been all the stations on the old ne Tie ny
CITY has furnished with them Mshne SHOPS nave
been erected Michigan City furnished with tools or repair
M the rolling stock npon division large amount
of new sidengs have been put IN ana ,ne o!d ones Vsy
heightened the necessities of an increasing ae and
force employed each except the last
in comp Icing the ballssing OF the track 49,. .u,,.,
. The rolling stock has been oes0S HO'' '
" cost, value aud capacity ~
"The principal items ere as ionowS' sas,sco
Building and ,sooo
Grading building, superstructure fencing iYS SS
hS engineering, discounts and com
missions on Of and y cent bonds and inter,
est beyond that received from illinois Central and 49, mn
New Albany ......''''..'''''' VIZ
Total. $3.50 oVV
.Tbe ony prominent Of construction needed until we
be yin TO double track will be for cur share OF the Hee
house OF together with considerable amount
Tor the tracks filling other depot arrsnsenents
our rolling stock buildings and side tracks but our plans have
been the principal points Tor large usc our Tto
ncreae than would otherwise have been
has been the steady purpose this Company since its
eanzton 70 perfect single line OF road and prepare Tor
Doing well all the that rapidly developing country
THE only departure this purpose has been in
leasing with the Illinois Central Railroad Company the Joet
and Nherp Indiana Railroad each Company owning one hai
of the lease half Of the rent "A 500 per annum over
the business Of the Rock Island aud ne nuIesn al
lev and the Chicago Alton and ST Louis Raroads- all up
ward of 400 ongcan reach the East over our ROAD and
save 81 miles and business Of about $50 miles OF the Illinois
Central Railroad and reach road at saving OF SS miles,
over the old route via Chicago -, "
Through this road outlet we shall be aoe 70 keep OUT
of our Che depot the large amounts OF freight bound over
our and from the southern and OF
illinois which will be great relief 10 she management OF that
terminus, already overcrOwded
An examination of the map will show that the natural cur
rent of very business must be through TINS road ana
plain the yanage VIII be TO the LIMOS OehuA
and Michigan Central Railroads.
Though not leased TO make money upon the rent,
have doubt will more than take care OF sef III very
short time. -, -, -, a..
unless 4 IL couended that ought to have
avoided extending road TO Chicago and 20 have remained
merely lerng the traffic OF the Great West to our
more southern ueghbOrs"