The daily exchange. [volume] (Baltimore, Md.) 1858-1861, 1859-11-22

In consequence of the gradually improving condition of
the Northwestern Virginia Road, and increased econ
omy in working, the advances to that Company have
5SI.2O ' 49,
During the twelve months sll3 1888 27 constitrtir tb
remainder of the Loan of the City Baltimore has been
received 1t will be noted the Sinking Fund for tb
redemption Of this debt all of which is invested in Stock
OF the CITY already amounts to $G7l 64 6-an increase
for the Of s5l 95 The aggregate of the Sinking
Funds for the redemption ofMorgage debts and Ground
Rent on Camden Station is eleven hundred and forty
thousand i've hundred and ffy-sX dollars and forty
seven cents.
The balance of cash in the Treasury on the 8Oh of Sep
temoer is S2335S3l2 after depositng S165,OOoOO for
payment Of interest the City Loan aud the Bonds of
this Company, which natures on this date This sum
presents increase of cash hand compared with the
| close of the last fiscal year. of $ l54 ,397 II.
The Bills Receivable, and sums due from Post Office
Department for Mail service, S34 7SSS showing an
increase, under similar comparison, of s124 O55l5
The uncoected revenue amounts to 1894 9SI 80 whilst
at tne corresponding period OF the preceding year it
After charging discount Bonds of the City of Ba1t
more sold during the twelve months 81 ,199 So interest
the State Of Virginia. Sl 593 CO. and eredting the dv
dends and rents received from the Wosbinaton
Branch the increment of the Sinking Funds and house
rents paid into the Treasury the net gain for the fiscal
year is ST. being upwards of l34 per cent on
the Capital Stock.
An interesting feature in this statement arises from the
improved financial condition of the Company enabling it
to purchase its supplies for cash. avoid the nece
sty of borrowing money. Consequently the sum paid
for interest is reduced S626373 compared with the
Deducng the dividend 1903 3I8 90 paid on Nav 18th
last, the Profit and Loss account exhibits surpus
50 O92 3l69 9l, being an increase for the year 64O
H.-oF THE WAsHIyGTox BRAyCu.-The revenue for
the year has amounted to SAP 29 So and the workn
expenses to Sl73,679.25, leaving net S-6S $40 28
The gross revenue shows decrease from the preceding
year of 27 2O3 49, but the improved economy working
has reduced the expenses $2S77439 thus presenting
comparative net gain of 81 90 The ratio of expen
ses to revenue for 1858, was 43 per cent,
past year 80 % per The decrease of revenue has
lasts of
Congress.
Doubts have long been entertained Of the pronria r
paying to the State of MAI yland the CaptaOn Tax Of
oneh of the gross on that portion of
ger receipts between Baltimore and Washington Cty de-
rived from the service of nine miles the Main Stem be
tween Baltimore and the junction Of the Washngton
Road The Board during the fiscal year of 1855 resolved
to withhold this tax, amounting for that period to
s530l and test the validity of the right of the State
to enforce the collection.
Without recognizing the equity of tax but governed b
the desire OF the Company to maintain the friendly
relations with the State the Board has econsderd its
decision, and determined to pay the withheld and
to continue the payments until relief be sought
the Legislature.
The paid to the State during the year on account
Of Capitation Tax, have been, viz:
For amount withheld for 1858 ............ IS s33 OF
Tax on Passengers between Baltimore and
Washington Junction for the fiscal yearlS59 s6OOC6
GO Tax on Passengers between Washington
Junction and Wash ngton 6s 40 Al
0'i'''A
Making ..................... e85 ooI II
Being 50 per cent of the net earnings -
seman dividend of44 per cent was paid in No.
vember, and the in April last similar dividand
for the past six months has been declared payable on the
25th instant.
in the vicinity of Washington. which will omen very
direct communications with the principal Southern ties
has caused the Board to look with anxiety to
for perfecng connections between the Washinoon
Branch and its Southern associates in thus to
pete this great national route.
The tedious and expensive transfer that has beretofoa
existed has caused great annoyance to the Immense travel
using this line As the entire country is interested in
this improvement the Board the requisite power for
its accomplishment may be granted during next ses
sion of Congress.
If suitable and economical transit for frepbt and ,as
sengers be secured it is believed that important results
increasing the commercial prosperity of Baltimore and
the District cities. will be realized.
IU.-0F THE NORTHWESTERN VIRGINIA RAILROAD
The of this road for the fiscal year has amounted
to $40 ~ and the working expenses $l9S 27O S.
This exhibit is accompanied by the remarks made at the
close of the preceding year viz In consequence of the
incomplete condition Of this road arising chiefly from
of embankments vertical Character of the
cuts etc, large that from the difficulty of accurate
adjustment appear statement charged AZ rena;rs
properly belong to construction for a
extraordinary working expenses.
The gross is less for the previous
year but as the comparative expenses have reduced
S4 $50 81 the net result presents increase of 7 49
II. The ratio of working expenses revenue for l5S
1G2 II, and for the past year 50 55 per cent
The Report of the Master of Road presents the outlaws
for securing and Improving the condition Tunnels and
for additional baastng which have been directly charg
ed to construction viz $lS $500 This sum is $50 2777
less than the amount advanced for construction for the
previous year.
The large cost Of working the road causes the entire
equipment and machinery to be furnished under the CON
taCt I te past as Tor the preceding by the Balti
more and Ohio Railroad Company, without upon
the capital 80 invested
1t wr be noted that the expenditures improving
exceed those of 1858 S. 9l4 81 and that on bridges
the excess is s466S34 Whilst these outlays have been
onerous the Board have continued pursue this liberal
policy to afeyn operating the road and promote
improved results in future
The large of $l6290 s5 has been saved in the ex
pense of watching Cuts and Tunnels This economy has
been effected by the dscOntnuance night trains which
have been found neither necessary desirable under
existing circumstances.
The Northwestern Virginia Railroad it will be remem
bered. commenced under the joint auspices Of the
City of Baltimore and the Baltimore and Ohio Railroad
Company The city originally guaranteed one and half
million Of dollars OF its first mortgage and the Ba
more and Ohio Railroad Company one million of dollars
of its second mortgage bonds. Since that period exclu
sive of an additional guarantee of half million of dol
lars OF bonds this Company has advanced to the North
western virginia Railroad Company one million seven
hundred and ninety-fYe thousand three hundrel and
twentysix dollars and twenty nine cents Included in
this advance under the agreement with that Company
mas Deen ninety thousand dollars per year interest paid
on the bonds for which the city guaranor This con-
tract expires on 1st January 1852 when more eauita
Die arrangements for operating this may
pated.
1t thus appears that the great burdens connected with