The Bedford gazette. [volume] (Bedford, Pa.) 1805-current, 1856-02-01


vision should be made for their renewal or re.
demption. To redeem these certificates loar
would become necessary, and as lone cannot Be
effected, in the presen; financial condition Of the
country, on terms more favorable 10 the State
than those on which these certificates were is
sued. would recommend that authority be Civ
en- 10 issue the bonds Of the Commonwealth in
renewal of said certificates, bearing interest at
the rate Of five per cent. per anuum, PAYABLE
semi-annualIy, and rrdeemabir on or after The
expiration of twenty years; and that the bonds
br issued with coupons OF certificates Of interest
attached, in sums equal in amount to The Semi-
annual interest thereon, payable on the first
days of February and August in each and every
year, as may BE- designated This change III the
form and character OF the certificates, il is be-
leved, will be so advantageous TO the holders,
without increasing the liabilities Of the Com
monwealth as to induce a willing and prompt
exchange, at a premium, for the bonds proposed
10 he issued
The cond iton Of the public works, their gfn-
eral operation, and the receipts and expendi-
lures for the last fiscal year, viii BE- presented to
you IN the report of the Canal Commissioners
- "--4N EdNN ''NVlptS dt INV tFdSNif IlaH
III" public works, for the year November 20,
l>55, we're $i,9f2,3TG II. The aggregate
expenditures, including ordinary and rxtraAr-
dlnary payments, for the same period, amoup@d
to $ ,838, ,79f 10, showing an excess of rectfas,
over all expenditures, Of s l03,l85 So
The extraordinary payments for the same
year, (including $l33, 100 90 paid for re-build-
ing the Frrepor aquedncO were $500, ,427 78.
Tho ord -
40.
Aggregate receipts, as
above stated 81 ,942 ,376 II
Ordinary expenditures l,l4S,363 40
Net revenues for The fiscal year 794013 81
This balance exhibits small increase in the
net revenues, as compared with the net reven-
ues of 1891: ard notwithstanding the withdraw
al of the transportation lines from the main iae
of the canal, the aggregate revenues for the last
year have exceeded The revenues of 1854 by
more than twenty three thousand dollars
From the abundant crops of the past year,
the improved condition of the monetary affairs
OF the country and the genra revival Of business,
large increase in the revenue for the current
GEAR may BE- confidently expected.
The sum OF Sl6I,l25 %, has been paid into
the Treasury by the Pennsylvania railroad comp
any and other railroad companies, as the tazA
tonnage passing over their roads. Thisaafe,s.t
largely exceeds the sum paid bv the same com
panies in 1854
The Delaware division exhibits satisfactory
rrs"It. The total receipts were S392,673 ~
expenditures, S60,097 S6 showing a net rpve-
nue. Of 1892, ,573 DO. If all our lines of i'm /
pIoVemrnt exhibited similar balance sheet, the /
ptgpi, ,V4tlE B4ya - /
more confidence in The general operation OF The /.
system.
There has been a large Increase in the bust /.
ness and tonnage Of the Columbia railroad, and
corresponding increase in the receipts there
from. The operations ofthiS road for the past
year have been highly satisfactory. The ope-
rations of that part Of the main line from the
Junction to PHtS5urg, including the Portage
railroad, do not present 50 favorable result
The receipts have greatly diminished, and were .
not sufficient TO meet the ordinary Expenditures
The rryenurs from the nam line Ga not equal
the receipts Of the previous years. The cat,srs
OF this reduction are apparent, and some Of
them have been referred 10 and enumerated I
1t is bat juSt to add that the expenditures on this .
line have been much diminished by the avoi-
dance of some Of the inclined planes on the
Portage railroad.
regret TO inform you that thr railroad TO
avoid the inclined planes on the Allegheny
mountain track. las not been completed as
was confidently anticipated. The delay in the
completion Of this work has occaSoned much
Inconvenience TO the business Of the main line
and loss TO the revenues Of the Commonwealth.
The expenditures have largely exceeded the or
iginal estimates for IFS construction and al
L. II 4 q e1~~-- 200 20