New-York daily tribune., 1859-01-25
THE READING RAILROAD.

" T.
SIR: TIE recent report of the Reading Company
has been published, and after careful examination
find il TO be much more unfavorable than had sup
posed from the extracts which had appeared in the
Philade pha papers. The report has the great merit
Of clearly and honestly stating the facts.
il shows loss on the bonds negotiated last year
of 81, $40 TO TO. Notwithstanding this enormous sac
rifice, the floating debt is stated at 81 97S 80.
The ss.ets held TO meet this ebtsTe:
Cs.b, bills receivable, &c. .sl92ool 50
Debts due to the Company incurred
ir current S'I1 u eioiHl "
s,ocs and oopds...... .....'.''...... - ,ooI %
Debts rsrJy secured by real estate. T7,ssi 81
Materials on hand, business
Of the rsd and tebts incurred for
Ro5 t<ltf tl-pi'SFt 70
Total. .si,s6ziS q
The ouly araa5k assets are the items amOuo,iog TO
$I6l ,72l 81. The stock and bonds aod debts due
the Company, partly secured by real estate" have
regularly appeared in the Reports for many years. 1t
may be assumed thst they are unavailable or they
s.y. s.sn sns ss oSI Of .s. O eusn. o.
viii always be requiIed.
The quesc ofAerest when will the pay smother
dvdtnd A.r statement Of the net income Of the year,
the report states The charge for interest ncade. q. the
"essed be coh'deree the fixed annual deduction from
" income"
Tt. plain ths. the Managers win increase
In smother of the Report til. proprsty Of work
The siopt the fOllo.ins resolution vz:
policy Indicated In the Report Of Msoasen WITH refer
70 ts spp icaon Of hs Revenue Of the Road and Do
sire ,hs the be spPlei to the payment Of s existing
thus the future policy Of the Company with reference
so-shoce Therefore before dividend 10 declared, the
Less available Assets. Hi,7A %
ss53,t0s %
Tse I-pofs in .ads: :: The I:5.noo Valley Road %
states; There ue s,l few cases Of land damages,
and Sther matter. % be ...e..ed By jae., and ,oms
tmsu eIrebd.ufes 70 complete the Depot at Harris
burg IL VIII a-o be necessary 10 compete add in-
Prove tie connections with other rsilrosas s Harris
burg and READING. TIE outlay for tbese purposes
Siy, ~ IN ,oas %, rass.GIs s.penS on the aIaoga. of
Valley Rad 10 bat just oonstruc.sd, presume
that tnese land esEsses, ether matters dspots, in.
proved eotnsc'iops &C., ke, may be fairy estinas-
con..,ueon e:,.. purchase. amounted
lat yssr So S63 g. hich IL . very low averaxe
bet We viii it :. the average .sy for tsT.s
Ia Boz d: s.ar. .moun.ip; TO-
opsy these the Company hold bonds,
sH TIE present. market price for ,hese
Bonds 10 under IS y esut, but es,iu.sti1g
them 8. that tate hey viii eo 2S- asz5 60
To pserd.d under tn. polio; siop: b.oi. .s.
PAID vnhe Ut proy'cn for ts proPeses woskin capital
the 0e @ .ss ~ The OF u
con Ion stock ogtstsndinz eessl 81 Tas bonded debt
.iv. q lSse ao.tns de6, sci a. WITCH
i Il 10 widen. "s: q 5.: 5.:G ui:s !: s.ssHss. s:s
We sss Nd pso E p, sS e,
not pepare to Say Incorrect deni continued
and tie going sxpercGr be ol income IL
s evident thar 10 dividend can te paid until 1865
Another most In probable feature Continued decline Ia
he business and protu not wbstandns include
me bc'm e,. of ee lie etenon Valley ad "a ,s ia ensh
seot T"tns while The schlykll Nsvisstion Coupscy lis
mediate rival has ncrs ssed both business aud prhs
less u an in ls5s
In 1883 they are again 81 II lees thsa ia 1857 similar
REDUCTION N ss woGd deficiency Of interest os
ssoas per cent? Of the s"sd. ssd ne to uoras q.
c<u o. o,s.ss eons. aas next yeSf 81 ,gd sh'