Sioux City register. [volume] (Sioux City, Iowa) 1858-1871, 1861-03-02
DUBUQUE a. SIOUX CITY IL. r..

The Directors Of this road have Just
made Report under date Of Jan. !, 1861.
The Report includes operation. since Sep
TENDER LIST, 1860. at which time the Pro-
visionaI Board Of Directors took possession
o. the 80 miles Of road then completed.-
Their rolling stock now consists o. en-.
gnes, 4 LIST class passenger cars, ? 2nd
class ditto, g. box ears aud 35 fiat cars.
The gross earnings up to Jan LIST, were IS $50 10
Operating OBSERVATION-DISCLOSURES. .-...242 IS
Nett earnings BIG 92
or five per cent. on the preferred stock of
$500, 900.
Considerable business was lost for the
reason that the supply OF cars was entire
ly insufficient, and it is deemed Absolutely
necessary that the o ng stock, exclusive
of passengers cars, shouid he doubled.
$4,000 Of the earnings ofthe road have
heen applied to back operating and other
Indebtedness OF the road There is now a
cash Indebtedness of the old Company Of
S24, 700, as follows:
Right Of way obligations. ...............S1l 900
Coupons and interest OF LIST Mortgage Bond. 81 0
Taxes. ACKNOWLEDGEMENTS. 1000
which amounts must be provided for either
out Of tho earnings Of the road or by loan
The Directors also require about $l5S =
600 Tor various purposes
For 80 new Box Cars bought in October. ,OOD
To double rolling stock. Observation-Disclosures. 20 600
TO improve Depot Grounds, in Dubuque... 10000
To redeem some bonds pledged for indebted
ness OF old Company, abb 6,OOl
Total. ..SlGs,O'0
There are now nearly 20 miles of road
completed from Jessup to Cedar Falls, tor
which an Indebtedness was incurred Of
abou; 300, 900, to raise which, the Des
MONIES River Lands, belonging to the
Company, was pledged at $500 per acre.
This land is worth from 50 to $40 per
acre, and the Directors think the Stock
holders had better redeem it than allow it
to be sacrificed The Company has the
right to redeem it in IL, IL aud Is months,
and tho amount required for tho purpose
is about $35S.00O.
Besides the land given in security for
this money, there is a mechanics lien on
the road fer the iron and the eth twenty
miles.
1" ouA'''OH W tue S1oC,OVV .oT heCeBsh-
ry payments, they require the additional
amount OF the net earnings ($3l,3lD
which should have been refunded to the
shareholders, making in all about $500
600 to discharge the liabilities of the road
With this amount, it is thought tina, the
road will be able to pay half yearly divi-
dend..
The Dubuque and Marion r r. will be
Instructed to Marion by April LIST, con.
necriny the ID & S. {. r. X on the South
with the mos, settled and brs; cultivated
portion of the State. The ID. & S. c. II X.
will soon reach the Cedar Valley, another
valuable portion of Iowa. Taking this 10
view, and what the road earned in the last
four months, The Directors predict per
cen. per annnm as the net earnings of the
road on the preferred stock
In closing their report the Directors
give their views Of the future policy of the
Company. They say there are two cour.
ses-lst, to raise by Bond and Mortgage
the sum Of 100000, which may be paid
by the sale of the redeemed lsnd, I'd
To mortgage the road from D lhuque to
For, Dodge for $l.1jo.00O with which the
road may be constructed to Fort Dodge,
and the present Indebtedness li9uidated.
The directors at some length argue the
superior benefits which would arise from
adopting the ID proposition
We conclude our \ distract with the Gen.
eral Balance Sheet presented by the Treas,
urer: