The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1859-03-02


His Excellency W H. Bissel, Governor OF Illinois, ex-
ohio. Jonathan SturRes, Joseph w. AsOp, Frederick C.
q, board, until March, 1852 Ebenezer Lane, Abram S
pcw Vt, W II. Osborn, until March, 1880. L. NJ Wiley,
frankVn Haven, p Ctouteau, Jr.' until March, 1851
unsl MAJ ch, 1862
REPORT TO THE SHAREHOLDERS.
AT a meeting Of the Board Of Directors Of the Illinois
Central RanrCNo Company, held at Office In the city
OF New Yosk tNs Sth day Of February, 1859. it was
the sha ehoders, at their annual meeting, the third
The annual reports Of the vice president and other off,
OF the company show that its raw way property has
net been allowed dtcriorate during the past
Of unsatisfactory traffic. the stock Of engines and Cars Is
perfect order and the hne itself has been constantly
improved By bilast'ng more thorough drainage and the
substitution o. masonry f,r temporary structures.
The directors have the satisfaction 70 report to the
prie'oIs very material dimHutOn in the working OK
lenses, from 81 9 ,23l Ia in 1857, to 1854 so in
1862 saving OF Il pr cent and that the expenditures
opou capital account upon the line ITSELF reduced
S67 426 20 against ST. 575 92 IN 1851 with no works
in progress beyond balastng the
Of one station house and the filling up Of reste works at
iOus 20 Dts
The traffic been light from well known the
proprctors, to Wit the failure Of the crops and
mercai Crisis The falling of from the previous year
s3l7 1856 o5 Of this amount only $40 29 % is from the
local business and 1912 1877 10 from that Connected with
other lines. 1t seems improbable that shall again be
called upon TO struggle against such untoward cir
cumstancts have been encountered during the Fast
two years. TIE commercial crisis has proved =
comparatively light trial, when We consider the
fell with peculiar severity upon this newly opened
iDe peopled With farmers, Strangers to the
country, and with scaDty During this period the
shareholders have contributed Eve millions of dollars
nstameuts their stock, which has nearly completed
construction OF the line and furnished with engines
and sufficient for large business at OF about
SO 500 0C0 aud have paid the interest upon the funded
debt reducing their net floating debt upon the LIST OF Janu
ary $446l67 So, which s less than the working stock
Of supplies hand valued at $3.50, 1872 Is.
The poprieors, by payments on their stock have fur
nshed funds nearly sufficient TO free the company from
hostng debt, and II ia shown under the uniavorabe cir
for traffic. that there ia clear profit in 1858
Of 6lS 10 beyond the working expenses that the
land collection and sales have progressed in spite OF the
adverse times for in the two years 1923 900 Of bonds
have canceled$45e 449 IS in cash has been ap-
Piled TO the interest fund.- and the sales Of land during 1858
amounted to SOL 81 Under these circumstances It
matter or surprise TO the directors witness the daily
transfer OF the capital stock at loss to the original sub
scribers fully equivalent TO their recon. contributions
(which contributions have placed this enterprise
sounder condition than at any previous date its
or'gn) with the road finished and equipped, and With q
sufficient population adjacent TO the limo 10 make tho
working Of it remuneratve, with favorable hArvests