New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1859-03-29

,.o.irs. vo.Is hsse ben DC y cen. Boro during tss'
g1s-,r and tts 5-E ses in tbs Ter .,le-t G; k'ai
R.u.rsn $500 less. rls smoict OF 'nt,fs'' ana
.sr.s charged 20 rsesip.s Is SIS 80 p; tetuetns
,h~A fc,n TIE balaao. Of ne e&-tnss-s-3V sol -
,esy,s ki2a 49, 70, os sbJU. z cant Ipa tie e.p-
Isl stcck.
Tn s.a.i,tics Of LEGAL frtigh; FOR the yes-s 1917
ard 1888 show .n Increase for the ser year n loe
,r-psee 81 749 tens, and in the ree-P5s from tes
.-sffc Of s3l "a i6. IRE resul, IL encouraging
.,p4csly in view Of tie fst tha. the past yssf mas
been one q general depression in al branches OF riie'
TIE report ssys: .,--oo ~.
II he mouth Of July. there matured $3.50 u tl>
Done.tic 10 = cent Bonds OF the Company OF voc
az eco were paid from current receipts loe reul7la
a. 500 have no' yet been presented for payment.
On the l2.h of December, TIE Real Es.ste Bonds
amounting to 500 600 and besnng ~ cent ID eieee,
also fell DUE IL proposed 70 the holders
Of these bords 20 exchsDee them a; taef ir v1e or
the y cent bond, Of the Company, emitted me
orfs ace bones OF lSJs S. toe rate OF 81 cents ~
the dosr, tse Company paying the difference II ID
cent in cssh and stipnstIg TO appropriate the pro,
ceeds Of the real estate Of the Company, not wanted
fcr right Of wsy or depot purposes, 20 ne Resumption
Of the bonds al the same rate.
Tbs PROPOSITION was at once accepted by very
LARGE PROPORTION OF the bocdholiers, and s6ou,
$40 GO have already been exchanged. IL "a rot ex'
pec,ed that the Company vii be called upon TO pay
more Tran tiutlU or Si%.NDN VI TIC p'u
tits however assumed in the General Account .
hereto appended that the Real Estate Bonds are 81
exchanged. but should any of them be paid in cash,
the item OF Mortgage Bonds Of l3s VII be TO tha'
extent reduced ana the item Of Bills Payable IN
creased. , .
The Mortgage Bonds OF 1883" are the same as
were referred in my formerrePor as the Mortgage
Ro.da of 49,, Il was deemed advisable ID poEt-
none the issue for one year. The whole issue pro-
vied for DO,00 20 mature in thirty years from
Oct. / ISIS srd is intended 70 absorb the whole ont
standing indebtedness Of the Company. sufficient
snourt il pledged 70 the redemption OF the tdndei
debt They viii then stand as fis. mortgage boads
After thus providing for the sal Eetse Bnds, vas
deemed expedient 10 make al effort 20 fund the hoat
ing debt Of the Company, charged in the genera
/ account Of the Treasurer, by sale Of the bones
/ in question ct rot ess thsn 80 cents on the dollar
free Of commission. For this purpose ~ CVO oil the
bonds have been subscribed since the frat OF January
The Board cf Directors having by these neeouatloss
provioed for the maturing funded obligations OF the
Coupary and for the CREST proportion OF It's rniuudef
debt VIII have no hesitation in resunlpg the payment
Of cash ovidends and have conf ience that they WI
not sesin be postponed.
/ The amount OF bonds and construction debt psiC
from the Bei esrnrgs Of the road during the past tsC
years exceeds 600 and TO tnIs extent the value
/ the capital stoCk has been ethanred. o.,
The receipts Of the rosd for the current year wi
depend entirely upon the pe1t harvest.
II sond he Idle 70 Expect any large ihcr'sse OF traffic
during the rtt half u the year. The freg6' Is DOT II
the country. With average harvest, nave entlr'
cor eBcs that the earnings flr the year viii snow
gain of II 9 cent on the past twelve months.
Tie srrplus account now stands S2JO,OlO.
| GENERAL AoCOrHI.
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