New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1857-09-18

The Bosid thsn p-e.er, voting Up 1t sep-mbr mt,
40 90 ha. ben in The sam expended for propeer,
WITHIN there hA. been expended sl22t5
GIon :h- tr NJ Toledo Rosa Including uni nlej
bs,on, rot ye DUE which have been assumed 0t that ur
y this Company and which nov sppar a. part q DOR 1l
hg asbt Ih-r hs, advanced 80 - 20 ine Dstro'
ard Milwaukee Rad for the pup OF .g:fnE asoa f.yof
te trims. al entry into ne tiS o. De.Lo sst 'nst
Re.i i'e'""'d'''''' IL ''' 'FP'' me D','., .- ~
e.b.r Ass :. abroaenty fully authorized By The stock
holder. the annual meeting in Is" "thoat enanerslns
shove specified nearly added to the debt Of the
COMPANY By eles Of coz. , s,o 9oi p. poy oT
mad. for in May 1855 and which then supposed to BE-
he .; Of Ipi s 90 Of the Income Boad. Of Corn
psIy mstured and paid thu. still farther increasing the
his Board took AM oan.ed 70 over s2s7COo including
thu cum 's9g; 3 @ stieG 5 u 0s TsgSs' =
he Detroit, Monroe and Toledo Road for pa,eha. Of iron
papy bu. which not having matured or been paid ad not
then been entered books sud were not
embraced in the general statement Of liabilities as made
Up by proper ocer the Company In this the
actual liabilities Of The Company e. that time were 10 that
Such the sctuA financial condition q the Company when
the Board Office in May last Since that Tine no new
works have been undertaken By its authority $3.50 shares OF
r ,b 80 rn S Ioap. III ben neso;a,ed and which
Quay 4% g. nd a TIL. exception no eIpendare
pr. Board except carrying and complying with the
works and the contracts made by their predecessor
Gsy and kedhsd connected with the Company
the election and MI Lichneld ALhOugn
Director previously had been ab'en, from the country 'iqce
October 1855 and had control actual connection with
pt1a o the day zS saI' here until
Assuming the msnsaewent Of the Company in Nay last The
Of financial condition that time and proposed issue of
Stock 20 the extent Of 100000 for the purpose
IN. soei wa. payable one half IN cash and in the
so' sy Of a Ss
te four shIe; Of the nsw stock tor v.ry Ten shares Of tn,
nearly ssoeO and II all the stockholders epPted
e si Of SEQ s ne
The st9s amount applied 9 sP5 issued . 1PPe;I. from the
la. the Jackson Branch,
sG s Si By rm IN , ;9eh sIS gao
Of the Guaranteed Stock The ockhoder. generally and
new ,ok and from this source the Company realized
than 81 800 coo in cash.
Il hs, been intention OF this Board limit the issue OF
Guaranteed Stock s. 900 o and with that view, to repur
ehsse and capeel he e1ce'. over that amount;
Be realized from the guaranteed stock the floating dept OF the
whcS amount wa. expected be increased by the necessary
expenditures finishing the Detroit Monroe and Toledo Road
sIe herewith shows an amount Of boating DEBT
comfortably exceeding the sum then stated.
Without pretending here to give all the items when enter
into and account for this increase we consider proper T.
specify the mOs importansef them.
balance the Floating Debt then stated It
.umed would be- after applying the proceed OF the
Il hs. been shown sbov. the, there were then exist
sng liabilities Of the Detroit Monroe and To.
Company but which had not then been entered
upon its books, ard which were thus uninten-
onaly omitted in our statement of liabilities
They have since been in part paid and the re-
aeSednes. herewith no in ali they amount 70 2eo p
petrot Monroe and Toledo line exclusive Of the
foregoing charge rails and duties. 96S6i9 CD
Within the same time there has oeen expended up
And upon the l43,t9 Is
stated 1929 50
Tota............................ sIs75,5o IS
The items which specified added to the a,ceaind
a. Ps Sl M Sn TGo to over S Various other items
have and increased this amount and the aggregate
Rs sa. Of se T ' sSd % and
leaving the balance e., on the M Of September &
ed cash al d available handi
up1 which there may be something to be p,Re particular.
in relation which must be derived from the Ensnee depart
So far advised there not any large amount
vii be- seen from annexed statement Of the Treasurer
OF stock OF Monroe and Toledo Road aud exclusive
Road unod the Company assets of the nominal value OF
s2COotcO and which have actually cost over go
Paul and Fond du Lac Railroad Company for money
June last With this exception and
the of the Company purchased above stated all the
property Of the Company before this Board into oe
tanned subsequent December BY authority
Of the stockholders Nearly all the others obtained in
prior to 1854 and referred to in the circular report of
that The largest Of these Investment. in amount
In the Chicago and Mississippi, aud in the Terre Haue and
the previous order, of the Board snd through lie agency
sfed By authority the Board aud although some Of them
appear TO have been iDadicous
doubt that originally they were made IN good faith In the
eaI 0 at the East or the West made .ons . ad
several plank roads which Were directly tributary to
railways connecting lines with view to increase its
to avoid an ssTs en Iceysd 81 pr6pe1
sold others security or in payment tor doubtful DEBTS others
from roads in payment 10 part Tor earnings from
ff,isht trans ed line.
T6e.e e.mens referred from time time in the pub
lsIed reports OF this Company have been made a. different
periods during the last SIX years WIN '.e~ % pom. rs
Interest and for hich at s time were ~
opinion although many Of these assets were aot A tas
syaabe for sale jet nat Inc most 81 a afI .saI
10 the Company return OF its advance Enertannz tns
0aiSSn st Bo T 5 tsq t until by gradual sales extending
through years they can be d'po'es Of % me 0e az
Al The same time the necessities Ct t4e Company require hat
the sums hich has advanced for their puT lAe gi o. a.
practicable, rein b4'ed TO N 4!essuy " ~
10 lie accoap ,lment Of both Of these objects the Do
decided to regsrd assets the nature OF 'pecic fund
upon which to 1sse an Issue OIL poI'st ~ In tbsr
90 being about the amount whcA Al been ~ I
ioissue The bones Of tI' COMPANY - The rate Of et per
10 be foI COS each y o.ai % I'D h. pIincips 10 be-
sSse Iei e.oyed out ofthe revenue ali assets
and o II IT, proceeds Of their ana also from ths net
esrrrg' Of The Company 10 aPPIP.4it t,T Of JAW.
lss All be paid thereafter monthly no ne Aue!i'
csa + change Bank tue City Of .NeFf'rN, -
be applied 70 tue puTcAsse u SAID b9ld'' as .o1s a.
they su b. obtained under par until nd issue OF mos 3
fuy raid and proceeds # ne sales y sd'5 a''e' snd 'o
me fei nc5ne II ne Company Jr as may DC nefet yJH
nat 1g,yose by resolution irTeyocs9y pledged Tor tne
pawn en the principal and OF said oGn1 Aad ii lle
monthly utfbutOus required By sait special sinking lI or
.br Td ptou The speci. sinking Fund Is made to com
mcuce its Of. raton July l. 1889 because, By tAat TIM We
t1k the ss.e,, question may Be disposed Of
an fs euoush the contributions required wtE0ut III
y,rDg The income Il the rad fo 10 !egt ae Ppe %
s Of int rest pon the funded debt AID dividend. ip)n
ibs stock u Ay The assets ~ urstlon We sVe ch
80. H. I5Iaflau H. RAJ William y Nrlts, All " isn
II Xrye three Of the Directors .. t Con paly, O. be held
,sf- .ud tilsta