Smyrna times., 1861-02-21
Financial Report of the Maryland and
Delaware Railroad.
OFFICE MD. & DEL. r. R Co, \
December 18th, 1861.

Delaware Railroad.
OFFICE MD. & DEL. R. R Co,
December 12,h, 1861.
The Treasurer begs leave to submit to the
stockholders the following report of the FInan-
ces of the company:
CASH ACCOUNT.
DR..
To amount received by former
Treasures TO April, 1858, $t5 1924
10 amount rec d from April, 3d.
to Dec. J, 60 by |. G. ". Pow
ell, I'resr, from private and
State stocks and grants 5O27l.52 95, 1913 80
CIR.
By amount expended by former
Treosr to April SIS. 45,l024l
Amount ex pended by |. CIV Pow
ELL, Tres, from AprI SO to Dec.
|, go, follows:
On account of Construction 276I4.OS
On acct. Right of Way, 5,S00.76
On acct. OF former liabilities 4S70 90
On acct. of Expenses OF all kinds,
including rent, fuel, office exprH-
ses, travelling expenses, cOntin-
gent expenses, printing, counsel
fees and commissions $3.50 20
On acct. of f.: tueering, salaries,
fees ID Clerks OF Courts and two
Per'h Amboy notes 5,5G7.99
Ant paid L. Rhodes, Inspeclo-0f
IrOn 1880 81 054 IS
And there remained On hand in
the Treasury on LIST Dec. 90, 6,2l6.77 1888 SO
BOND ACCOUNT.
To Bonds issued by former Tres'r, 100000
Bonds issued to Mitchell d
MaHet, l75oOoO
" Balance due NJ. g.. M. III bonds
Nov. Is. CO. lG3 0S $23, 33.eS
CONSTRUCTION ACCOUNT
DR..
To Bonds, Stock and Cash paid on
this account to April 1858 by
former Treasures, 35,SG042
To Bonds issued from April, SO
TO December 60, l7,933O8
To Block issued account
since April SO, ll,05272
To Cash paid on same account to
December /. 60, 27,6l4.0S 81
10 retained per centage on stock
and bonds, 1889 So loo. 2s9 8.
ENGINEERING ACCOUNT.
DIR.
To amount expended on this ac-
count to April, SO, 976s4O
To amount expended from April
80 10 December |, go ,67049 gil ,433. 81
RIGHT OF WAY.
To amonnt pended to April, SO, 1879
fees paid IN case ats Porter, 6302
cash paid for land damages in
! Delaware. 5SOO16
To Stock issued for land DANA
geS in Delaware, 364I.63 SO 621.Gt
SALARY ACCOUNT
To amount paid on salaries to Apl.
| So as follows:
In cash. 23OO.5l
In stock, 2,75OOO
To which add amt. pd. collectors. 1864
Error. 1900 s5,672,4
April So % December so, w l.s6OOO s7.s2a, 4
GENERAL EXPENSE ACCOUNT.
TO amount on expenditures to
April, SO 5l94l5
To amt from APP. IS to Dec I'6O 2o5O.26 s7,244.4
LIABILITIES
Judgment due Easton Bank, 100000
'' Former Engineer
corps say 100000
Judgment due j. A. w Powell 24OOO
Coupons on bonds outstanding, $4,000
=, Bonds issued, % 933O9
Other debts of all kinds eshmat d. 100000 Sal $685.
ASSETS.
Amount payable by Stale of Md, no. $4,000
! Amount payable by State Del, O5,45OOO
Amount payable by private stock
holders, (say) 63,9OOOO
Amount of work done on con-
struciron, G,9s9ss 49,, $685.
To which may be added LIST mort.
gage bonds. 9S3, mot ssued) of
; $500 each lat parl 416,5O0 90 s62, 4s9'
\ The foregoing report embraces the entire linancl
transactions OF the Company from It's organization.
n The transactions of the present Treasure
o cover the period from April 1858, a period
nearly three years, during the first two yea
, Of which there was a suspension of the VOL
3 on the road, and no salaries TO the Presde
until the LIST JAM, 1860, and to the Treasur,
e unIi the LIST March. 1860
. The present liabilities of the company CO.
sist of u judgment due Easlon tank Tor mon,
e borrowed by The Directors of the Company
the individual credit, expended in its CO
r sITuCtion at a period when the company h,
II neither funds nor credit to prosecute the wor
and the whole enterprise must otherwise ha
}. been abandoned. A judgment due the form
j, engineers, chiefly for money due them by fC
II mer contractors, deducted from their estmat
and assumed by the company, being allowed
cash to the company small judgment whiC
! was also paid by the former contractors. out
= their cash estimates, and assumed by the cor
: pauy-and the bonds outstanding, issued f
~ work done. With so small debt, and SUI
substantial assets as the report exhibits, the
can be no doubt Of the ultimate completion
our long cherished enterprise, after the prese
financial pressure has passed over the countr
By careful comparlsoR of the expenditur
OF the company tor salaries, right of way, al
!. general expenses, with that Of any similar q
dertaking in the couHtry, it will be seen III
the company has exercised the most scrupulo
- economy.
= All of which is respectfully submitted.
- l. C. w. POWELL, Treasurer.
We, the undersigned committee, appoint
by the stockholders at their annual meeting
the 18th December 1860 to examine Books a
accounts of the Treasurer of the Md. 8