New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1857-08-01

~---N
1,,,....,b,, ss2 SIS 81
We have received pamphlet copy of the agree
ment recently entered into by the Erie and Central
Roads, duly executed by the Presidents Of the Roads
With the exception Of the three following sections the
agreement ia ar we printed it few days since
That it. in the opinion Of the New.York and Erie
Railroad Company, il shall be deemed expedient to
sell tickets over the two roads, having coupons
attached for other roads, or to allow other roads 70
sel coupon tickets the two roads the New York
Central at the request Of the New and Erie Kali
road Company will join the latter Company in abolish:
ing the Of coupon tickets over the two roads on and
after Tie first day Of September next. .
the Board Of Directors Of each Company, except to
the members Of the Legislature of New-York, and
the members Of the Common Coutc ell OF the cities OF
Albany and Buffalo, by the New-foIk Central, and
the members Of the Legislature of the States OF New
York. New-Jersey and Pennsylvania, and the men,
bers of the Common Councils of New-York. jersey
City and Buffalo, by the NewYork and Erie Railroad
Company and the free passes for the return OF the
dovers who actually accompany the stock shipments
Should any point in dispute, or which may mere
after lead to any dispute between the two Companies,
have been omitted in this agreement, it shall IN every
be settled in such a manner as shall De equaly
Just to both Companies"
The section in regard to free passes is rather
curiosity, and is likely to provoke the queston-why
should all these Legislatures and Common Councils be
presented with free passes
In our reference yesterday to the result OF the years
business of the Pennsylvania Coal Company, we
eroLeOusy stated the amount in dollars instead OF
tuns. The correct statement is as follows: The
amount of coal brought to market 6l2, 500 tuns,
being an increase of 81 900 tuns on last yesr. The
net profits of the Company were $32O,9l3 60. The
sales of coal g. 466OlS GA. Tue payments since
May /, 1854, for constructions, opening mines, on
mortgages, &C., have been $2O4 OILS. The Report just
published says:
Owing 10 the considerable increase in the business
of the Company requiring additional working capital,
and in view of the absorption Of large amount Of such
capital within the last two or three years by payments
on bonds and mortgages given upon coal lands at the
time Of purchase many years since, and On new pr-
chases Of such lands whose value and position with
respect to other lands owned by the Company rendered
their acquisition Indispensable and for other objects OF
permanent value which have increased its assets and
the necessity of retaining the present resources OF the
Company TO conduct its largely increased business
without ncurring floating debt for the amount the
Board has to the conclusion to omit the decara-
ton of dividend at this time being convinced that
such course will best subserve the permanent in-
teress of the Company and consequently of its Stock
holders.
The Company has at no time possessed more in
trinsic value than at present It's asses are worth
much more than its entire capital its coal lands having
appreciated very largely over their cost.
Az the Company is enabled to 10 cent on its
capital at the present low prices Of COAL which must
be regarded as minimum and temporary any increase
of price which may be realized in future years on the
large quantity the COmpanyis prepared to bring to
market, must tell very strongly upon the profits OF the
business.
STATEMENT Of the bu,ne Of the Penn,yrania COcl Company
for the year ending May 1857.