New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1857-01-28


Tepne,,e. ,........ $4,000 90 Illinois Intsr-
NoIiI c.oin: $500 nal interest,"; 9as4O %
C.forni........ 1900 e gan esn....... 2o5Oso 90
Georgia .......... ESQ % nlnoi. ana Michi
Kentucky 5000 90 est Csriteates... s5ef4 81
Wisconsin. ....''''l - - a.
eI042oeO H
The original deposits were, in amount, sll 79l 1884,
Of which s4,l36, l62 have been withdrawn. On the
basis of these stocks, &C. 1873 in bank notes are
row outstanding most Of which supposed to be in
circulation The cash value of the stocks deposited s
estimated by the auditor at &c. 663 -leaving mar.
gin of els2, sic fer depreciation.
The Boston Journal gives The annexed abstract Of
the Report Of the Trustees Of the Second Mortgage
Bondholders of the Northern New. York or 0gdens-
burg Railroad Company This document, embracing
the operations Of the Ogiens5urg Railroad for two
years, ending September 80 1856, is the fret report
made by the Trustees, under whose management il
has been during that period. /. is in all respects
well. written, concise and busineeslik statement IN
Guiding in its details clear and intelligent explanations
upon all important points in regard to which inforna-
ton would be considered desirable
The first portion Of the document enters into brief
history of the Second Mortgage and the action OF the
of the property under decree obtained from the Su
preme Court Of New.York, the result Of which was
purchase of the property for the Second Mortgage
Bondholders. The legal effect OF this proceeding say
The Trustees, u " 70 ent1rey wipe Out tue coptal oh
"snd floating debt of the Company, and the road, with
all its fixtures and sPpuItenanees becomes the prop
"ery of the Second Mortgage Bondholders subject
"only to the lein of the First Mortgage OF
The Crawford and Chsmberlin Bond, with tie accumu-
lated interest together with claim upon Geo. Parish
ca. of Ogdensburg, appear to be still In litigation,
but the Trustees seem 10 think the claims OF the Second
Mortgage upon the former will be sustained. This
question to be decided by the Supreme Court upon
statement Of facts.
The business operations of the road during the two
years named have been "a follows:
Tots can s,' SS ~
IotAl os'boSi w
Net earnings. S5l0,lss -
Which sum has been mainly expended for two years
interest on the First Mortgage Frst Mortgage BONDS
past dne fuel and shop stock on hand leaving nai
ance of cash and cash items on deposit OF 80 eSU ~
During the two years considerable amounts nave
been expended in renewals beyond /. s believed, the
current depreciation 10S miles of the road have been
reaid with new ties and SO 600 has been EXPENDED
for iron, laid down. Additions 10 various cepoS
and other structures upon the line have also involved
large extra expenses. By carefully prep sred cacua
ton the Superintendent eytiua.es that all ese renew
els and additions exceed the depreciation which hss oc
CURED during the two year, by the sum OF se oyf.
The result is that the road its equipment are In me
highest state Of efficiency an the Trustees state cor
fdently that az no time has the road been u Defer
condition for business II sn at pr,eent.
The Trustees have made vigorous exertons TO rec1e
the expenses Of the road TO the los est point compatible
with safety and efficiency of operation. In this they
have encountered many obstacles b1 have eucceeded
In efeetng large saving Of expenses md viii no. re-
Lax IN their efforts TO accomplish further reduction
which they eonsidef desIable and pract cable. The
comments OF tie Trustees Ipen Rslrosd e,-romy &C