The daily exchange. [volume] (Baltimore, Md.) 1858-1861, 1858-11-16

The large reduction in the of transportation for
coal on 1st March last failed prevent continued great
falling oil IN the trade In the Annual Report of the
late John H. Doane, ESD, Master of Transportation in
October, 1854, he stated
The demands of the coal trade the present time are
very urgent almost every operator in the coal region is
pressing for larger accommodations and and import
ant mines are about commencing business with the
city to mine and send down large quantities of coal
feel fully justified in stating that full employment could
be found for at least fifty cent. machinery that
trade than is now or can be- with the present equipment
of the Road appropriated to it, From these facts it will
be seen that the advance in eghs of fifty cents per ton
made the first of November, 1858, has operated
check or limit the trade
The relations of the Company with its connecting lines
have continued of close and friendly character The
reliable and largest contributor to the trade of the Road
and the CITY, among its Western connections has been the
Central Ohio Road, the improved management and cond
on Of which have given increased satisfaction in the
promptness and regularity of its transportation of freight
and passengers.
The Marietta and Cincinnati Road was seriously dam
aged by reshes for time, which disappointed that
Company in the extent of its business 1t has been
Gently improved and is again operating successfully
With the completion Of Road-whch may be anticipated
during the coming yearextendng from its present line
to point near Parkersburg, large increase OF traffic
with that Company will unquestiOnaby be realized. This
Improvement will also produce most beneficial effect
the business and of the Northwestern Nir
gina Road.
The Board has firmly adhered to the conservative and
valuable policy of maintaining the sinking funds.
The aggregate bonded debt of the Company
is now $40, ,66S 645 O5
And the aggregate of sinking funds is... 937 2S4 10
follows:
For ground rents on Camden Station. :. $40 GAL &c
For City five million loan n............. 619674 81
For mortgage debts ''.....'............ 27o666 TT
ses7 ,284 1s
When the property occupied by the Camden Sta
ton purchased portion of it subject ground
rents the holders of which refused to SELL These rents
amounted in the aggregate a. representing cap
a at per cent of Sl0l 00566, which, with the amount
paid for the ot that in fee and for the easehold
interests S43 2 95 made the ofthe property equva-
lent to 1914 ,277 GA in fee.
To meet this annuitie Of $500 created upon the
Companys interest in the property and sold to various
parties the understanding at the time being that sink
ing fund should be provided for the purchase of the
the accumulation of the above mentioned S10l O0566
the interest which being thereafter appropriated the
payment of the s606034 Of original rents the security
the holders of the $500 annues would be equivalent vir
tualy to what it would have been had the ground
pied by the station upon which the annutes charge
been in fee simple at the time Of the purchase.
This sinking fund accordingly established and
amounts at this time to $4694l &c, arising from the
nual appropriation Of S6O00 and investments Of the
interest thereon which will cease when it reaches $Ol
| O05.66.
The fund redemption Of the Million Loan has beer
merged in that for the mortgage debt generally and m
increment Of interest has been duly invested By specific
provision in the Ordinance and Act Assembly granting
the City Loan ten per cent thereof reserved from
each payment This reserve with its accumulations o
interest regularly reinvesed in the City securities will
reach the whole amount Of the Loan in the year 1894
| the average cost shall not exceed par
On the 18th December 1856, the Board adopted the fol
| lowing Resolutions:
| ResoIred, That the sum of s11333 annually, begin
ming with the year 1857 be and the hereby appro
prated and set apart Sinking Fund for the redemp
tion of the Mortgage Debt of the Company which saii
amount constitutes the Iron Bonds due that date
maturing respectively in 1885, So and CO. which
the said to be renyested annually in said Mort
gage Debt All interest that may from time to time
thereon shall be invested in any of the debt
| said when it can be obtained below par.
If this important addition to Sinking Funds, being
about per cent annually upon the capital, Temporal
rly withheld from the Shareholders be maintained will
its accumulstons of interest it will absorb the entr
mortgage debts of the Company in the year 1879 if the
erage cost of the bonds shall be par in the year 1877
| the average cost shall be 90 per cent
The unexpected requirements of the Northwestern Vr
gna Road alone produced the large Floating Debt of thu
Company which, in the early part of the past year, ex
ceeded million dollars. The Board has deemed it th
soundet policy to defer dividends until relieved from
entire Floating Debt The amount, being reduced t.
s2S4, ,65379, will be liquidaed at early period.
1t a of qualification to the Board to announc
its decided conviction that with economical and udicou
management the payment of cash dividends will be
sumed in April next, and to express their entire conf
the capacity of the Company maintain from
earnings the payment of regular semi annual dividend
| from that date.
| THE TREASURER'S S REPORT.
The following tables which extract from the An
nual report of j. l. Atkinson Esq., exhibits the inanca
condition of the road and other interesting statistics
LIABLITIEs-MAIN STEM.
| Stock held by individuals .... So ,425, 10000
| CITY of Wheel