New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1856-04-01

fhe 6fh ard the ou'hly ina ailments 10 the Saking
Fund, is almost identical with the estimate. IL
gratifying r,rult las been obin "ed n0swnAstsaag
the dr.~bac Of veral los by ire ssn6ss(
ing in the aggregate, 10 sT35if 81; While 81 -
time the commendable condition pf tho rosS 80
equipments has been fully msinta NED nd IN somc 10
rpecir materially improved, the highest possible oon
dItion cf the road bed and rolling stick, nrrsses 10
capacity of the road nders sccds nts and
loee ess r.quest and proves in the end to Dc ~
economy.
BY rrirrepce 10 the annexed schedule B.. il viii b
seen that the gross earnings of the road for The
{s. arr. II &
Cd asI coating dsbt and reD. Of Unos Rsiros1,
(52ls pr cent Of Trcss esrniDgsl- 3 tess57s 50
Con tribanoRs to SINKING fasd....... $3.50 -
leaving Reliance Q credit of income scoO.n, Go
&c ysrS. SM
The e'tinsted erp-nses. including Interest," on
debt and the contributions the sinking fund.- s.ksN -
Net ssss.sss -
Making the actual net revenue 81, 36a n more thaa
estimated.
The above balance, with the contributions 70 ne
sinking fund present as the net earnings of the yer
es33 ilo 81, being q cest on the capital stock.
That the traffic of the road for the present year hcs-
withstandpg the unprecedented severity Of the Win
teri will rrt atty exceed the las, is demonstrated By
the result of the business OF the inst quaer presenaeA
in the next table F, which exhibits the gross earn
ins .S. ~ -
AZ quarter 1884,
Escess Of iaY over ist......,.......... $ar .ss -
And the net profits are s462,79' 81, being Il oesG
upon the capital of the Company.
A like increase upon the remaining nine moat6
would make the gross receipts for the year nearly
&C. 500 eco. But owing to the great and prolonged en-
barassments of the past ncement season. Of which The
history of railroads iu this country presents ne parallel
TIE receipts for the second quarter will give DO inorease
UPON the period last year; and it is but reasona
bic expect that the expenses will be increased during
the same tenn. Should the result of the years busneo
not prove TO h. profitable as may have been antica
.l.co nh.hl ha c.u0i in
three months comprising this quarter. must be rc-
member,d, however, that the embarassments have
not been confined alone to this road. All other avenues
OF commune ion with the Atlantic seabosr have bees
equally blocked and the extensive crops Of the last
wear thus kept back, with an active foreign aud do
estic demand at reasonably high prices, will give fun
emplo> ment TO tie trains eastward bound; and The
stimulated movement of business westward, after .
of liquidation like the past, and accelerated ~
the almost unprecedented prosperity Of the interior
country, must inevitably furnish CORE spondngly in
cre asod return trade. large increase in the business
and pleasure passenger traffic may also be conhden<y
relied on during the coming season.
Amitable relations now exist between this Company
and compeiirg lines. The temporary loss contingent
upon the strife Of last year with the most formidable
rival resulted in better and more defined under
standing Of the rights of cach and must tend in tho
future To the advantage IF both corporations and 10
hoped viii be u permanent gain The foregoing Ia
yorsbe auspices taken in connection with the supe-
rior dsCipne, system and economy which character~
ize the Superintendent department, promise at the
close Of the year exhibit which cannot fail TO be
generally satisfactory TO the stockholders, and iuda-
cate the period when may be proper 10 resume the
payment of regular semi-ana cash dividends in adj
diion Ia the stock dividends, from the accumulatsas
of the sinking fund as is hereinafter presented.
Schedules A, Il, c and ID, are items referred to IN
table T., which exhibits the balances of the gcaora
ledger.
The suhjoined table G-giving the earnings, er-
penses miles rum per centage OF expenses aud OF gro
receipts for nine yeas-msy be useful in forming q
estimate tor the future.
The annexed table III, gives the gross earnings fer
the year, the expenses in gross items under their re
speotive heads; the net revenue, and how the sa.e
has been appropriated
The table !, represents the receipts and dsbufSe-
nerts for the year.
Table j. shows q comparative statement for The
years 1884 and Is545, the amount Of capital STOCK
ssu,d amount of funded debt amount of floating dob$
amount due income account, amount Ut construceA0~
occt unt, and Increase in the same, 80.
Tie directions in their circular to the public in Octo
ber 1854, asking for proposals. to tho new loan -
100000, Indicated To the stockholders the
YUTURE POLICY
of the Company as follows:
All bonds being purchased by said trustees shall b
cancelled by writing or printing on their face HE'D ~
Z" The Si king Fund of the New-Y0rk and Erie Raj
road Company hut that the interest warrants -
-aid cancelled bonds shall be collected by said trus
tees n they become due, until the monthly paymenss
of the New-York and Enc Rsilrosd Company and tho
ncciung interest or the conversion OF Convertible
Bonds into stock Of this Company shall have reduced
the entire debt Of the Company to $50 900 oOo Afer
which the said monthly payments shall cease and she
iust vested in said trustees shall he closed and al
cancelled bonds and the unpaid interest warrants de-
vered to this Company.
Rered hat the bonds purchased BY the Sinking
Fld anount 10 10 y cent on tho capital stock t6s Company
reeevg authority the Legislature OF II
State decsre at the next semi annual divide day stock div
ideud OF 10 p cent
Re,ed That any and all future expenditures ssyood s
amount to BE- derived from the Poceed OF the nav oaS a
ubung the income bonds due lat February next DO chaysd
portaiLon e1penseA
In c,rfornity Herewith, the Company will declare
dividend Of 10 y cent in stock Che law authorship
the same being frst obtaned in April, 1857; ssd tho
following is offered approximate estimate OF the
amount which will be accumulated In the Sinking PanA
on the respective dividend days until the debt Of Ne
Company shall be reduced. according to the tee1
above recited, to SEQ, 0O0,0O
sfAKfsC YuyD