The daily exchange. [volume] (Baltimore, Md.) 1858-1861, 1860-05-10


and Ohio Railroad have also published the follow
ing report, which will be found of interest:
OFFICE BALTIMORE AND ONO R.R. Co.
April I'd, 1860.
The operations of the Baltimore and Ohio Rail
road Company for the fiscal year terminating Sep
TENDER so, 1859, exhibited reduction of the
working expenses of the main stem of 1907 per
rar "a ia, tie UVe,inS year, anu an
improvement in the aggregate comparative result
on the main stem and branches for the same period
of 1892, 1851.
As these results were deemed extraordinary, and
much interest has been manifested in reference to
the business of the Company since that period, it
has been decided to present the financial statements
for the fiscal half-year closing the 3lst ultimo,
which subjoined.
los THE MAIN STEM.-The liabilities and assets
of the Company are exhibited in the Treasurer's
statement A. The revenue and working expenses are
shown in statement B. The gross earnings OF the
main stem have been 81 $40, 79S45, being an in
crease compared with the same period of the pre-
ceding year of S7S,00S.S0.
The expenses of working and keeping the road
and machinery in repair have amounted to $685.
697.53, being 1907 per cent. upon the revenue,
exhibiting decrease compared with the same
period of $1,000 per cent, and of l 49-l00 per
cent. as compared with the last full fiscal wear,
embracing the less expensive period of the summer
months.
The Company has continued to make its pur-
chases for cash. and is entirely free from floating
debt.
During the six months the Company has
1st Advanced additionally under the agree
ment which terminates at the close of the
year 1861, after crediting all
ceived to the North Western Virginia Com
pany, for the payment of interest, (inclu
ding s45, 900 on the bonds of that Company,
guaranteed by the city of Baltimore,) and
for expenditures in improving the condi-
ton Of the road, &c.......... ......... s16Ossl2l
I'd. Paid for rolling power, payment to Ross
Winans for locomotives under contract
sumed for North Western Virginia Rail
road Company l......'::.;. ...n:..;..... oS'6'oo
Sd. Increased the several Sinking Funds, ex-
cusively by investments from the current
net earnings, viz: The Sinking Fund for
the redemption of the city loan to $500, ia.
SO, being an increase of........S 20 1890
For redemption of mortgage
debts to 1868, 055 06, being an in
For redemption of ground-rents
Camden station to $73,471.6S,
being increase of............ 12,751.75
Aggregate increase of Sinking Funds ...-1s3 Os4 6S
4th Paid the semi-annual cash dividend Of
per cent, on the 9th November last, on the
capital stock. SO3 S4s 90
Exhibiting total of................. 1854 $40 90
The Company having surplus of Cash beyond
its requiI ements, advanced to the Trustees, who
in vested large portion of the interest due LIST
of July next, in the Mortgage and Ground Rent
Sinking Funds, which accretions are embraced in
these accounts.
The aggregate of the Sinking Funds now exhib-
its the very satisfactory drapidly increasing ba
sis of 81, 1928, Gal. 10.
Although two per cent per annum of the net
earnings are absorbed in the maintenance of the
Sinking Funds the wisdom of the policy is palpa-
ble full provision is thus made for the payment
of the entire funded debt of the Company.
The balance of Cash in the Treasury on the 31st
March was $685., 522.3S, which was in addition to
Sl65 900 deposited for the payment of interest
on the City Loan and the Bonds of the Company
which natures on April LIST.
The Bills Receivable and sum due from the Post
Office Department for Mail Service amount TO
$50 500 OIL The uncollected Revenue is 1864 POL
In tinina If int m IN
LIST July next on Bonds of State of Mar yland S24,
1867 have been RENTED to Messrs. Barring Bro
theirs & Co.
Statement C. of the Treasurer exhibits the &C
count Of profit and loss. After charging $780,,
084 81 interest and ground rents $4,000 in settle
of suit of 1856, and crediting the dividends and
rents received from the Washington Branch, the
incremeDts of the sinking funds and house rents re-
csived, the net gain is shown for the fiscal half
year Of S73S 72G.42 being upwards Of IA per cent.
on the capital stock.
DeductDg the dividend of 1908, $4,000, paid on
November 9th last the profit and loss account ex-
hibts surplus Of Sc SCI sos 80, being an increase
for the hafyea Of 1886, 37s. AZ.
H.-OF THE WksHfsGfoH BrAECn.-The fnau
cial condition Of the Washington Branch is exhibit
ted by the statements If The Treasurer, u. y. and
+.
It win he seet by statement T. that The revenue
for six months shfbprIsd - s21G.1Si III, and the
rbrFirp expenses ~ $50 fOj "A, lssvibP net the
If si53.Hs7J
me Stnss te7arBa shows n da6fease from Tho
CORRESPONDING fptibd ~ the preceding year Of
st2, bfb ~. md decrease n working expenses Of
St1, rs. ~.
The raftb NJ working expenses for thr six months
exhibits reduction from 40 B71bD to 81 1900 per
rent.
1lI.--Df rHF NORTHWESTERN VfnafEfA ROAD
Statement u If the Treasurer shows that the rcve
nue. If this rOad for The fiscal half year has amount
cd 10 s129, COT. II, and the working expenses to
sB04ib70
The gross revenue Is 50, gGs Is leEs than for the
corresponding period Of the preceding year, but as
the comparative expenses have been reduced SILL
266.47, the net result presents an increase Of
S4,59S.34. The ratio of working expenses to reve-
nue. for the half year exhibits a comparative
decrease from IA 63-l00 to 60 7S-100 per cent
GENERAL REMARKs.-The aggregate revenues
working expenses and net results of the Main Stem
Washington Branch and Northwestern Virginia
Railroad for the fiscal half-years, terminating re-
spectively 3lst March, 1859 and 1860, have been,
viz:
REVENUE 1859. 1860 INC. DEC.
Main Stem sl5ss, Ses 81 s,e,issas s7S,OOaso
N W. Virginia 136275A l29607n 6,66S Is
2l27,29L65 2,ls65s979 IS OOss0 Is,7Iae6
Total increase of revenue. ,....... ,2e5.H
Main Stem .ss4s,9i3 20 $se9,G97 So sI426I7
wash Brauch.... 92,l3l.32 SO,4O5 a HIPS IS
N W Virginia.. 10l,7l2H W445.U 1l266.47
t..s l,Os7.7S7 10 loooS4s.67 s7,2s852
Total Decrease Of Working Expenses s3l s3S52
Total Increase Of Gross Revenue. 59295.A
ro,oI Increase of Net Earnings. 500 1896
The condition of the Road and Machinery has not
o,Iv been fully maintained but improved. The
g Il. L. hosu