New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1858-04-14

n. y tmsengs o. IN all eOmpasiss in which
pfeision. were read and referred.
isvsss &c hssS or ppf0pratns soe 'ohe
inc snAaee oEisies reported tie esoIusa for pay
Lhs STREE "a landings esn,ise reported numbs Of re.
saopea -nd .hic ~ published oeiaII7 day ar % ol
rssolsS1 vas offered for spprOpatus slso to the vouh
dd schools addiond 70 he forner approprsrion
Iks Board then adyosrnsa
To the stoekholders OF the w. o~t
jackson q Great Northern RAILROAD Com,
pany.
Senfasen The Board Of Directors respectfully submit their
Annual Report the condition Of Company in conformity
with the charter.
AT the date Of the last report; April 1857 av o
miles Of road north of re1sined 10 be eo,a
and IL was stated that The Board felt cOuans having open
Tor business from Nev Orleans 10 Canton early In They
have much qualification In announcing expectation
then entertained has been realized The laying
shed the SIS altmo, and regular trains daily
between the two points, II rmArk however, that
although the road is in such order that good running
made H. considerable have to be done to put
IN perfect condition. and this applies particularly to
that portion Of It last executed.
The Board think they may without improprisy. congratu
te me on the completion of mach Of the road
will give New areans direct nnboken railroad enu
nicaton with the distant portions Of the Union when the
little remaining to be done those roads with this con-
meets shall have been s1eeuied The benefits aow it.
not only to the citizens OF Louisiana country
can scarcely be oyeresmsied The budng two hundred
and seven miles Of railroad is any circustsc- an
easy task and its achievement in the face many difficult
ties with uhch this has been IA os h
which all may justly take pride.
The connections which this road others have been
50 often explained In the annual reports the maps accom-
panyng them that IS deemed to repeat them h.r,
but brief reference to the yet on them 10 not
out Of place On the Mississippi Central Railroad running
from Canton 10 the Memphis Charleston Railroad accord
ing to last accounts about hundred miles Of the ack I'D
oeen s leaving gap the middle Of about eighty
rafla aurh4a I. IT,. l..rra-
ton Is steadily progressing It's direction sangune hope. OF
ls entire completion The only the railroad
connection between New Orleans and New York. besides
on the Mississippi Central road few on the
East Tennessee and Virginia Railroad which II Il said will
be closed this spring The Mississippi and Tennessee eu,r.
Railroad running from the terminus the Mup
Central to Jackson Tennessee distance as miles has been
finished and ia operation time past Prom ack.op
Tennessee the Mobile Railroad 70 olunbu, on ,hs
Mississippi river, 10 miles aro w it is said be com
peied this year This grading either entirely very
nearly 40 and the iron for the track hand When that
road finished the by from New Orleans to caro
will be about twenty -four hours.
Is expected that for carrying United States
mail including the Great Eastern l which is now carried BIZ
the way OF Mobe will be made Company and the
Pos0ce Department for four years June next II this
be effected the mail between New oeaas New York will
be carried through In about onr days the gap on the
Mississippi Central Railroad closed. in three days
During the past year large number Of buildings i'm
perayey demanded by the increasing business Of the com
dous passengerhouse engine house. freight
shop, blacksmith shop, etc, etc.
Il stated IN the last annual report the Board would
have rely the hrst mortgage bonds the
Company for the Of completing the Canton At
that date hundred and nineteen bonds of one
thousand dollars each had disposed o and since then
eight hundred and Hf three aud issued to
contractors making total Of million hse hundred and
seventy two thousand dollars.
The construction of the read purchase Of rolling stock
and machinery aud the expense Of REPAIRS transportation
have absorbed nearly all the available Company
and brought itlarey IN debt To this reanee mus be
placed the conversion the belonging to the Com
parry and on the earnings Of the road payment Of the
Of working it. which expenses probably be about
oneha Of the receipts In addition ordinary snd
unavoidable Of working the road large outlay wifi
required rolling stock hne In crib work hal
lasting the details Of which given report Of tbs
General Superintendent The be applied to these
purposes may be less the discretion the Company
being understood that the condition nd efficiency road
and its capacity to money will proportion 70 the
employed The gross receipts for the
coming million Of dollars, double tAat sum
after the Central Railroad shall have been completed
The debt of the Company as follows
FirstmortRage Bonds 80 years from the July
1856 bearing interest al the rate Of eight per cent
Bills payable and Loans lS373 20
s2OOs7sl .
As the bonds 1885, there is no necessity at
present make sion for their payment the interest
them payable semiannualy January and July must
due in London in November December last and m
remain unpaid-Sss4T 20 due With: year ending
April l. 1859, and s21 $40 due between 1854
To meet these bills payable aud loans the
"a. RSny hays yet g9soi & ds ar mortgage bonds 81 900 90
londs Of the State OF Louisiana 1900 90
bhlsreeel'aDe- l9lo6i -
sAs5S054 p
9s of the first mortgage bonds 732 City Bopds are
pledged to secure the payment Of the bills payable they
are OF course put down here assets they ck into
the Of the the payment the notes or
loans which they What these produce II
disposed OF for cash 1t Is difficult say. lowest rate at
which the company has the FIRST mortgage
bonds has been ninety cents the dollar and Bonds
City Now Orleans quo cd al rs to 6 cents II ia
proper to say however that at there bat little
mand for them and sales considerable could not
be easily made.
Besides the debt above in figures the interest
on the fret mortgage gag bond. disposed q, sld72,OO
From which may be deducted the interest per cent
the same period on I35 city bonds. iO
Interest provided for............. for ssl- -eel
The earnings Of the road for the year ending sl March,
1856 sl2o 57S 4 for the year ending ss March 1851
slssOD2 s; and for the year ending 3lst March, 1868
s2ss, ,5ss 70.
Rekxenee is made to the documents marked A. B. f.
F-6F& II, which accompany AMI make part report:
statement of the receipts expenditures Of the Com
4hhy organization Masch 81 1855 From this il ap
pears at the gross receipts have beeu u.s. from The
following
Subscription to capital stock a. 400 sls i6
IloaIs, under three different heads
6Si Bll. payable s.,ad and loans sa 5sl
mississippi per cent imd."' SOol oo-si .sss7si %
Sales Of first mortgage bonds s.......-. sl.579oo1 20
Interest collected By the Company and
city bonds. IN
Amount due sundry agents. :. ......... S7sS az
Transportation earnings 6s2zO 81
ssl4O.dOs is
And the expenditures during the sam. period has been
81, 2563 A, viz
So1strnciion .......... 5000 l75 q