New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1860-03-28

will enable them to continue. The proceedings for the
foreclosure Of the First Mortgage Bonds Of the Mil
wsukee and Mississippi bonds have been suspended.
dispatch from Washington, received to-day, states
that the Supreme Court of the United States has sf
filmed the decision of Judge MLean, made some
years since sustaining the validity Of the Endorsement
Of the bonds of the Pqua and Columbus Road by the
Cleveland, Columbus and Cincinnati Road. The
amount involved is $iO0,W0.
The annual report of the Delaware and Hudson
Genial Company has been published, and elbows net
earning of 81 e cent against 81 cent in the previous
year. The Managers say:
The Board of Managers herewith submit the usual
Annual Statement Of the business of tue Company for
the year ending on the LEI Dst showing net profit Of
S6lS2lO 90 bel about 81 cent the capital stock.
The Canal was opened in 1859 on the 2Sth day of
Al Ri, and closed the 9TH day OF December-navi-
cation having been interrupted by breaks during this
period, only A. days The whole amount OF tolls re-
ceived was $3ll ,5V ~. This, il should be remem-
bered is exclusive of the additional tolls claimed to be
due from the Pennsylvania Coal Company, under the
agreement Of 1871 on account of the enlargement OF
the Canal.
In the early part of 1859, bill was passed by the
Legislature of Pennsylvania giving this Company the
right TO purchase and hold 001 acres of land IN ad-
ditiOn to the 1000 acres IL authorized TO hold by
the original grant and also the power TO construct all
needfu roads, TO connect the same with the then exist
ing works of the Company, Awaiting of this au-
thOrity considerable body of valuable coal land was
purchased during the past year.
Ii was also deemed advisable to construct, without
delay, extension of the COmpany's railroad, from
its previous terminus TO point within one mile Of
Scranton distance of about A. mes This extension
is nearly completed, and will be ready for use on
the LIST of May next.
The work upon the new dock at Weehawken
has been prosecuted rapidly as possible,
but il will be vet some months before II can
be safely used. The entire cost OF this i'm
provement, when completed will be nearly or quite
$500 600. provide the necessary funds for this work
and for the extension of the Railroad referred to- with
the required equ ment for larger business the Board
have authorized the issue of coupon bonds TO the
amount of $500 000 having 10 TO rum and bear
bonds will be disposed Of from time to time, needed
at not less than parpreference being always given to
applications from stockholders who may desire TO
invest in this way.
il extensions of the Railroad and other improvements
called for by increasing business the sum Of
81 COS S45 81. The whole road now Is OF solid and
permanent character; its capacity for trans portatlon
has been increased from 500 900 TO 200 900 per
annum, and it has been extended TO point far from
the Canal the operations of the Company will prob
ably ever require The entire cost of these equipments
with the exception of $500 O0O borrowed in 1853 has
up TO this time been provided for out of the current
earnings OF the Company.
When the Bonds, proposed to be issued shall
be disposed of the whole bonded debt of the Company
will be 81, 800 600. sinking fund has been estab-
lished, 10 which, by resolution OF the Board there
will be contributed each year out of the earnings the
business amount equal 70 Z cent on the capital
stock The thus appropriated, with the accumu-
lating interest," will be ample to provide for the pay
ment of the debt il natures. During the past year
SO 900 was thus set aside and securely invested
me business Of the Deidaye and Hudson Canal
Company for The Year ending March /, 1869.