Western Reserve chronicle. [volume] (Warren, Ohio) 1855-1921, 1859-02-02
sl5J.777sI sl42. al SIS

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Net Earnings sl5J.777sI Sl42.o al SIS
Much The largest decrease IN The Ir
c-rpts is in the item ri irrights on Goa
Thi> is attributable 10 part TO the I'mi'ed
d-msnd tor the article during the pas
ear, and in part TO leduc.l ion in the
price of frieghi>, which became necessa
~ in consequence of The active comp
uIinn in TIE Coal market, and the r-iuc
I'd cosr Of transportation on the Panrsyi
wanna g. OHIO Canal, which : now near
ly, if not quiIe fifty Pc. cents per ton
less than in the season. before your road
was opened.
To meet this necessity. drawbacks
upon Coal ierigh's h We been allowed to
the am';Lri OF SIC 449 26. which i,
neariJJ Gfty per cent. greater than tn
eEdre dec. ease in the net earnings dur
Jog the year. The same fact eau es a
slight pro rata increase from SO 81
loo to 38 45 100 per cent In the oper
aIing EXPENSES but they have IN tact
been reduced in proportions 10 the amour
of business done. as will be seen by
estimating them upon the aggregate r..
ceipts increased by The amount allowed
for drawbacks, As above stated
TIL , increase in miscellane u fr-ishts
is principally In Iron Ore from Cese
land. East, and Iron, Nail, aud Glass
nom New Castle, West. both of which
are carried at comparatively low prtc-~
In Iron Ore.the Increase has been more
thar so per cent, aud the prospect Tor
the current year is Vet more favorable.
The demand for Coal must be greatly
increased, and although the causes above
mentioned will-prev-ntany additIonro the
rates of freight. 1t is confidently believed
that the increased receipts from frelghts
of Coal and Ore. as well as the natural
result of the gradually returning com
mercial prosperity of the country, will
add largely TO the income of the R pad.
while the system OF rigid economy al
ready in4usuraIed in every department
OF its operation. will prevent a proper
rionate increase III its expenses.
The experience of the past year, SO
far exceeding IN Its favorable results The
most sangGIne expectations of the Direc-
Tors at its commencement. (which it will
be remembered was a period OF general
prostration in business. has fully salts
ied the Board. that the enterprise in
you are engaged must ultimately
be successful, aHd secure a fair return for
money invested. At present n re
gard for Justice as well S for your known
requires that ali of the surplus
earnings, after paying the interest &C
count. should be appropriated to the re
lection of the fl rating debt which was |
inavoiiablv created in the completion t
md equipment OF The road.
The rich nin-'sl and s%gricul'ufs a. re
ources OF he Mai ming Valley, which
bring rapidly developed, xnd the in
cnpm-rce arising thereirom.
re creating for your Road a local bu>i
less, which, while il cannot iail 10 be
emuneratng; will not be subjrct 20 the
fluctuations and comp-iiu Ms If a thro
uSiness. THIS local business alone ]
lust rapidly reduce the dbl of The {
company, and ere long. r pare the way
Or returns in the hap of dividends:
nd whenever IA through Eastern connec
on shall be secured an event which is
mere question OF time, your Road can 5
OF fail to take rank among the most
rofilable in the country
By order of the Board Of Directors. r.
CHAS. L RHODES, =
Vice Pres't& Sup't. s.
Ths Sockhol iers passed the following a
solutions relative to the decease of the p
tie President OF the road, Hon. JAooD
'ERKrNs: CO
ResoiUed. That we have learned with e
nfeIgned sorrow. Of the decease Of the r
Ion. Jacob Perkins, late President of r,
lis company. and that We deeply sym il
wnh hi numerous friends in this
svere affection. Il
Resolved, That while in the death of 5,
lis distinguished citizen, the entire com p
lunity have sustained a severe loss, the A
cleveland d Mihoning Railroad has A
deprived of its earliest and best "a
lend; and in view of his eminent ser
ices in its projection and constr ction. P
e recon end To the Board of Directors :
cause q special rrsin TO be placed at
he disposal of his friends for their &C NJ
omodaliOn n attending his funeral =
Lecaer. hi