Cleveland morning leader. [volume] (Cleveland [Ohio]) 1854-1865, 1859-01-28
c24y,Z 10 V1o-iIOO =
Operating Exp's.. 95,474 55 s9,251 2S
No. .porriuvs sI53.777 81 sl42,s4s SIS

Net Earpiups. .sI53,T77 81 Sl42,s49 55
Much the largest decrease in the receipts is in
the item of freights on coal. This is attributable
in mart TO the limited demand for the article during
the past year. and part to areducnon IN the prlce
of freights which became necessary IN consequence
of the active competition in the Coal market, and
the reduced cost Transportation on the Pennsyl-
vania & Ohio Canal, which IS now nearly II not
ouite ty cents per ton less than in the season be-
fore your road was opened.
To meet this nee ssty, drawbacks upon Coal
freiohts have been allowed to the amount OF Sl6,-
449 %, which is nearly so per cent. greater than
the entire decrease in the net earnings during the
wear. The same fact causes slight pro rata IN
crease from 3S 3l-lO0 to SO IS 100 per cent in
the operating expenses, but they have IN iact neeh
reduced in proportion to the amount Oh Duslngss t
DONE as will be seen by estimating them upon tne
aggregate receipts increased by the amount al
lowed for drawbacks, as above stated.
The increase in miscellaneous freights is princi-
pally in Iron Ore from Cleveland, East and Iron,
Nails and Glass, from New Castle, West, both OF
which are carried at comparatively low prices
In Iron Ore the increase has been more than 5O per
cent, and the prospect for the current year Is YET
more favorable. ,
The demand for Coal must be greatly increased,
and although the causes above mentioned VIII pre-
vent any addition to the rates of freight It IS CONN.,
| IDENTIFY believed that the increased receipts from
freights of Coal and Ore IS well as the natural re-
snlt of the gradually returning commercial pros
nerity of the country, will add largely to the IN
come of the Road, while the system OF Hgld econo-
inv already inaugurated in every department OF It's
oneration will prevent aproportonate increase In
its expense.
The experience of the past year, SO far exceed
inc in its favorable results the most sanguIne e1'
pectations of the Directors at its commencement >
(which it viii be remembered was PERIOD OF gen ,
eral prostration in business,) has fully satisned
I the Board, that the enterprise in which you are
engaged must ultimately be successful, and Sc
: cure fair return for the money invested. AT
present, regard for justice as well as for your
known wishes requires that all of the surplus ear
lipes after paying the interest account, should Dc
appropriated to the reduction of the floating debt
c which was unaToidably created in the completion
and equipment Of the road
The rich mineral, as well as agricultural resour-
ces ofthe Mahoning Valley which are being rapidly
developed, and the increased commerce arising
tberefrom, are creating for your Road local busi
l. ness which, while it cannot fail TO be remunerat
inc will not be subject to the fluctuations and
: competitions Of a through business, ms loca
business alone must rapidly reduce the debt OF the
Company, and ere long, prepare tae way lor re
turns in the shape of dividends; and whenever
fhroue Oh Eastern connection shall be secured, al
event which is mere question Of time, your KSa
cannot fail to take rank among the most proftabl
in the country.
By order of the Board of Directors,
: CHAS. L. RHODES.
/ Vice Pres't Supt
re The Stockholders passed the following resOlr
ar tons relative to the decease of the late Presder
of the road, Hon. JACOB PERK1Es
Y Rssolved. That we have learned with unfeigne
is sorrow, of the decease of the Hon. JACOB Ferkln
late President Of this company, ana tnss ueep
u svmnatbi1s with his numerous friends in this 81
III we're affection s...;.
y ResOlued That while in the death Of this distil
guished citizen, the entire community nave slsIAi
Ter ed a severe loss, the Cleveland & hahonlng kal
road has been deprived Of its earliest and De
friend; and in view Of his eminent services In ]
projection and construction, we recommend to Il
Board of Directors to cause special train TO D
pIaced at the disposal OF his friends for their q
commodation in attending his funeral.
tor SO''-''-
FE. RUFFINI offers the greatest bargains ev
ass made in Furs They consist of Capes, Mufs, Cap
"a Robes, Mufaers, Gloves, &c. He offers the highe