Fremont journal. [volume] (Fremont, Sandusky County [Ohio]) 1853-1866, 1859-07-01


Cr.kvELANn q r0Lrtio hhramoAp.
The ahnuhi meeting Of tlis stockholdera
Of this road was held at Clevelaud, On
Wednesday last, as we learn from the
Cleveland Herald In choosing directors,
44,7s4 shares we're voted upon, over one
third Of the whole number. Only $4,000
shares were represented last year The
number cf directors was increased from
to IS. The following persons we're elected;
DIREcToRa. f,.t
J. b. Waring, Cleveland, s. n. Handy,
ClevOlaed; Amasa Stone, Jr., Cleveland
John Gardiner, NorwAlk Wm. Durbin.
Sandusky; Warren Colburn, Toledo; Sam
uel NJ Young, Maumee City; o. T. OIy-
phant, New York; Dean Richmond, Bufia-
10; VIM. Williams, Buffalo; A. N. Rams
dell, New London, Conu.
Of these, Messrs. Waring, Gardiner and
Olyphant we're members Of The old board.
From the present complexion Of the board
it is probable that the policy Of the Compa.
ny will not bo materially changed, il At all.
Az a subsequent meeting Of the board
the old officers vera reelected, as follows:
Presideat--J. B. Waring.
Superintendent-L. ID. Ruckor.
Secretary and Tressurer--H. G. Luce.
Cashier and Paymaster--E Sheldon. g
We quote the following from the Anuual
Report
EAREINGs AND ExREXsrs.
The gross earnings for the year ending
April 80, 1859, are;
For Passengers .. .slsS. .ss1 q
For Freight, Nails, &c 3i2O Ois20
S7gsass as
Running expenses for the same period ~ sss, coo u
Nett FarningS- ngS-..-..--.--..-......-.s4 s4l4, ,4ss %
The earnings are sl32,0e6 81 lOss than
for the preceding year.
A reduction of the running expenses has
been gradually persisted in, and are $ll2,
762 2s less than for the year previous
AT the present time they are less than tho
average for the past year.
II will be seen by the report Of The Su-
periniendent that the number Of passengers
carried TO all points on the road, is oe,5oo
less than for tho year previous, while ths
freight tonnage exceeds that Of the preyi-
Gus year by about $500 tons.
The large falling of in the receipts Of
the Road, occasioned by the general de-
preston of the Western business, has pre-
vented the Company from freeing itself of
its floating debt.
FINANCIAL CONDITION..
The financial position of the Company.
as will he seen by the Treasurcrs report, has
not materially changed since the last annu.
al statement. The interest on the bonded
debt has been paid, and the obligations Of
the company have boon met as they became
due.
The total amount Of the outstanding
notes of the Company juno j, 1859, is
$359,6o5 Ga.
The earnings for the past year have fall
en- short Of the earning for the year ending
May l, 1857, the sum Of S344, ,652, 80, and
should the business Of the road again re-
vive with the general business Of the coun-
try, remunerative dividends may be expect
ed by the stockholders.
CONDITION OF THE ROAD.
The track upon the entire Southern Di-
vision Of the road and upon the Northern
Division between Bcrea and Sandusky, is
in good working condition. A considera-
} ble amount Of Te-rolled iron will be re-
quired, as usual, during the season, with
which to replace the worn out rails. The
Company has a sufficient surplus Of iron tc
+ use in the process of transfer.
NORTHERN DIVISION.
Owing to the bad condition Of the track
on the Northern Division west Of Sandusky
and the depressed state of tho business, and
the urgent necessity Of curtailment Of ex
penses, tho trains were discontinued on thai