New-York daily tribune., 1858-12-10

Sho"iDe Seo''as'N abilities OF Co. durug ycs'''
But II vii be ..iced, TO accomplish this resu' the
accumulation ,he wear to the sinking fund has TO be
skeb AZ srt Of the payments, whch, sthougu hh
one sense scty correct in smother may be ressrde1
Dc VII d,ly suspendng the effect of the Slnsns 'u"
or .he year for Accomplishing an actda Feuuo.lon =.
s.hted, ess Excluding this item, there appears Hu
,-c-esse of liabilities for the year Of $l0OOo' oo "ho
viii be found 70 be considerably less than the amount
charged during the year to construction account
OF the charge of s2l6,7O2 iS 10 construction &C.
count the Committee remark;
twill be observed by the COmpanys annhaI re-
mort for this year that the sum charged 10 cOnsruc
i;on eccount for the wear i. $26,1O2 II. The CO@-
mit,ee have carefully scrutinzed tie elements OF TINS
charge which consist in real estate purchased new
and additional structures, new and sddltonal sue
tracks and rev and additional rolling STOCK.
Tie resi- estate purchased appears 70 be such az was
clearly desirable il not absolutely indspensaole TOT
the Company 10 possess. The new structures prlA,
cpaly at Yves, Albany such as could pot DC
With at this the expenditure on o. them, partcu-
lsrly the new encre house. has been larger inan the
Couutte. car have been inevitably required The large
T thm Ih.,e cars, /, sppears delivered lniera
tract when the requirement for additional equip
et;en porth, But have been s,ea alive
bot receive the car, and Psy o' tn.m & pans
present need and in Of value OF Il ever before
BY the Company than so the difference
b,;ween nj. sum $4,000 charged TO c2usrs;oa sc
co. having charged 70 expense account TIE Cmee
sh I & i4sy wsf~ ssf fR made he. finally
The i.nsth OF side tTsks ad "lthlL IN" year
charged 20 construction cfi that he Committees
@ tv dollars thar the cost Of the
n, ~se % 70 the Roe.y o. ne o1%pny Ss d as m t 81.
requirement con .ty enarsss the con.r1e'n S afOns
mens extensions should principle be made only from
the net ,nnus whether these be increased by enlarged re-
cqipt. or dmir shed current expenses And these mesn'
fs and the required improvement Indispensable then It
should be PAID OT sy diu 1s or need @ De- wans
of making improvden excessive outsys But me financial
condition Of railroad adonshs OF th d'nse
of ircrea'ps permanent liabilities BY sccumRsHs 'ne con
The c,ps Is stated the report Of 1857 10 50
ARD by the report OF this is9o ~
r,her in fgres than in .c, r II ia iu
tended amount raid for account OF the Lewiston
comPsHy E ri. C9ny ao sHe Tor s wh.s as .ad no
liability sccount OF /, outstanding Tbe same eHghnsion
been charged stock LIABILITY Company the sctua
Of which 5 9 $50 being the sane a. 10, .ey
years past and the exact amount upon which dividends
I , 81 hass A. Ind nd Of IL. last
Indebtedness of the Company beyond the several
IN It's annual report and have acertaued
that since the fiscal year. the liability Of the Com
Bee eIDsi.hed and that no indebtedns Of This de.crp
exists. The Committee take the liberty 70 express
hope that such long be the bei9s psruaded that the
Company very rarely be in need Of such forms Of credit
and if the necessity should ever occur rule should be rsdy
| Treasurer
particularly with the Niagara Bridge and Canandsgus Rail
the perpetual Oi
property tina. Company for which has obligated itse 20
pay the Of $4,000 IN half yearly insalnens As
rent the principal .am II 90 and probably at no distant
day decide do the transaction may De reeaded
S dsSt Increase OF tile funded DEBT 10
Tn. Committee do not consider Il within province
discuss IN this place the policy propey Of this importan.
Certainly it b not il conformity with the expression
made a. tie last annual meeting of the stockhode ha no
subscription, ndorseueut lease other implications shall be
0a But 81 M nav BE- h. The for Or
mating the measure were OF such nssnitde and urgency to
the opinion Of the 'ockhoder thus expressed And the
Committee willing to that 30 far as they have knowledge
Of the subject they are satisfied that the arrangement de-
The particular efforts to become
Of all other property OF the Company and with this viewa
part Of the Committee went over the line Of the road seom
panied By Of the officers Of the Company and stopped a.
dfe points to make such examination OF the station build
nss, depot, machine shops Iesht houses ana portions Of the
roituniiy scen. allow thorough examinations Of
the read and all its sppurenaHce are in excellent con
don, sl the undersigned in the opinion that at
than ey, heretofore and are capable Of doing al
ond the pse,ent bsne, Of at least y per AID in this
Gle, they srs,ided observe that system bds iu
'eeen Ia. been adopted which they hope may be made e1
The committee have with pleasure, discovered tba. in many
during past year commend,be degree OF economy
introduced into branches Of the service but they cannot
with the iu,er..s the company has reached the
maximum OF economy in the naturalization OF its aHa. At.
ps Of undue eIpcn.isenes and might be uU'se for a9
ui;se with the limited knOw.ose which, BEST all could
Sque Of the and value Ct services rendered and the
Of expenditures required IN different departmsnt,t
decide the reductions changes that should be made.
They therefore themselves with earnestly
recommending the subject Of further re,rsnchmens
penss the board Of dire tors with hope aud confidence that
they viii ave % !. cary and thorough attention.
The Con mee will not BE- concluded that their sbors
have been limited 10 the topics discussed In their report
The contrary they hsye bestowed time and many
In Of their es having had sassctory result there
renamed ncueeren for speaking Of them Of
df.reu. they have bad time berow thorough
examination which alone would condeuns,o concl.
sions December. :, 1855.
respectfully submitted.
JOHN P. MOORE
MOREAU DFLAS0,
CHAkLES sTEBBiNs, Committee.
ALBERT II. TRACY,
JOHN I. CLARK,