New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1860-05-02

TIE spnual report of the Morris Canal Company has
been publithed The income Of the Company for the
yesr ending February 90, from tolls and rents, has
amounted TO the eum of s9O5 5H 93 being An advance
of $50 SIS 40 upon the ipCome of the previous year.
There has also been received for premium on preferred
stock sold during the pas! year the sum of S5l5S 49,
The expenses for operating the csnsl including re-
pairs to the canal and its works during the year. have
amounted 10 the sam Of sl37 635. The report says:
portion of these expenses however, should be re-
ga,ded as e%!aoIdinary they embrace the cost OF
the Passsic and Uack Riyers, and towing the
boats around while the work was being done between
said rivers.
These expenses and repairs have amounted to abou'
sly ,O0H and az like expenditure viii not be required
for several years TO come the onehaf of these extra
ordinary expenses may be fairly deducted, reducing
the ccst Of ordinary repairs and operating the canal to
the sum of Slss, 1856.
Although these expenses are somewhat larger than
those OF previous years, YET. when the amount of re
pairs done, and their necessity and value to the cana
and it's businsss are cops;o cred they win be founi
quite as low as proper regard to economy would
Justify.
The results of tie years business however are ex
temely gratifying for while go much has been done
to give increased capacity to the caua and provide for
its growing business, the net esropgs have been su-
Gent to pay the interest the Bonded debt the
usual dividend the Preferred Stock, aud share
upon TIE Common or Consolidated Stock being equal
TO about cent per snnum upon its present market
value
There has been expended since the last annual Re-
port in the permanent Improvements of the canal and
its works Including the outlay at Jersey City, the
SUN of Sll9,f7S 80.
These expenditures required in completing the
two inclined planes in procefs of construction at the
cate of the last annual report in the construction OF
two rev planes and in changes Of third to make 1t
conform 70 the others on the line; in building new
lock where the canal connects with the Passaic Rver
in the construction Of extensive and substantial APP
paraus to supply the canal with water, between the
Hacl ensack and Hudson Rivers and in building pers,
wharvee, and basins, at Jersey City.
The canal and It's works are now in excellent condi-
ton; the inclined planes all rebuilt upon the I'M
proved plan; several of the locks have been ex-
tensively repaired and all in good working order.
There is foil five feet depth of water 10 all the levels.
The navigation between Newark and jersey City has
been made equal to airy part of the canal and the i'm
proyemsnts at jersey City greatly facilitate and en-
courage the Ieshipmeut Of coal at that point.
The improvements originally contempt sted are now
completed and no further outlay will be required for
permanent improvements, unless it shoud be deemed
The policy of the Company TO still further increase the
tunDsge of the boats las suggested In the report OF the
Engineer hereto annexed, by increasing the depth OF
water, snd frightening the locks
GENERAL STATEMENT (ro FEB. 20, 1897 NORRIS
CANAL BANKING COMPANY