The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1863-03-12
quotations..

Inc first annual report OF the Erie railroad Com
pany, which was issued from the companys offices
to-day, is one of the most important railroad pa
pers ever published in this country. It shows, in
brief, how a railroad. company which, through
Encouragement and accident, he'd nix tc the
lowest depth Of insolvency and discrsdit has been
raised'by few years Of prudent administration,
assisted by the general development Of the coun-
trya position equal, if not superior to that Of
any Smilar corporation in the United States and
Il Wind. Gates in the most surprising manner the
foresight II those citizens of New York who, eight
or ten wear >ago predicted that the New York and
Erie Railroad ~ould eventually become the main
channel Of commL uication between the great West
and the eaboard o. Inc leading railroad enter
prise OF the North. Che Erie Raroad--five hun.
dred and ffty-seven n. lies long-stands in its
owners at the present time $40 lo4, 700 of which
one half is represented by lNock, the other by
bonds. 1t earned during the year 1852 IS. 400 334E
over twenty per cent on its cost The working
representation averaged ffty-eight per cent for
the whole year, being less than fifty per cent dur.
ing the later months Of the year. when the earnings
,vsrs v.~. '"r"e-amounted to-. .s4,s6o,74s
Interest, rents taxes, &C.. 80
Total expenditures. ~ az 7sa es2
:. i ..dcted from IS, 400 1884, LEFT
'i'o'0''AN .or dividends on the stocks. Of this
III 81 1882 9l4 were laid out in paying of old in
debtedness, leaving five per cent dividend for the
preferred stock This year-the whole floating
debt being paid off-the entire earnings ofthe com.
pany, after the payment of interest and expenses,
will be applicable to the payment Of interest on
the two classes of stock If the earnings and ex-
penses remain the same as last year the preferred
stock will get seven per cent and the common
stock nine per cent during the year 1861 Judging
from the receipts of January and February, which
show considerable increase over last year from
the steady increase OF way business on the line,
and from two other special reasons, it is expected
that the traffic of 1863 will probably reach ten
millions OF dollars. These two special reasons are:
first, the attention which is being paid to the coal
traffic. which is likely to prove one OF the most
important sources OF revenue to the company;
and second, tho progress Of the Atlantic and Great
Western Railway, which will transfer to the Erie
the bulk of the business of Southern Ohio, ID.
GLIDING the petroleum traffic. With regard to the
coal trade tie report says
The development OF the coal trade on tho road has en-
gagged the attention OF the directors as well TO secure
desirable traffic as TO provide supply OF coal at all points
IN the linz iur our own consumption which is already
large and will DO constantly ncreasing
the establishment % manufactures By nsuring TO them
at low prices, constant supply Of the best fuel The
lroxmity 81 the road 70 the great anthracite and btu
innous coal fields several points distant from each
oth9r VIII enable the company to supply all parts q the
road, without resortng to a long haul. Bumnous al
Is brought 70 the road from the Bossbargh mines
~ Corning. anthracite and bitumenous coal by the
Emira aud Wiamsport Railroad and the North Branch
canal, al Emra anthracite coal by the delaware
Iacklwanna aud Western Railroad at Great Bend and
anthracite coal by the Delaware and Hudson Canal
Tho greater part the coal transported las, year was
carried the cars q otner companies ana hauled by their
a
trackaee The Delaware lacSawanna and Western Rail
road Company transports coal from Geat Ecnd 10 Owegc
and Intermediate points and the Fail Brook Coal Company
iran ports bituminnus coal from Corning 70 Emra aud
part the Cauandaeua b.anch 10 seneca lake on
these terms Arrangements progress by which the
western division q the road viii be supplied with coal
nom the uincs lying south Of clean and from the Allan
NC and Grea Western Railway.
Inc directors y the early part q tho year, entered
into contract with the pennsylvania Coal Company for
The trans poraiion Of very large quantity 81 coal an
n1sy rom the termination of TINT companys rairoad
al Ilnwcv 10 Ncwburg picrmont and Jersey City ~,
carrying that contract rarn "a Is being cjnstfucted
.tttr the direction % the ufecls ~ this company from
Iqretwaxca stat on 81 orr rUad 10 Hawey and Mn bs
sJna .otci early III the ensuing summer Tho length Al
~ road abGHt Gftccu mhs. An equipment q coo
C4a aod eusuct .og TINS business has besn ordered
With regard to tho Great Western extension
and yhe future revenue II the road from the trad
10 OH ihc report says
HE Atlantic nud Great Western Railway Is IN opora
Ton ta l,aFoonn, All vii IL a few days 10 epencd q
ATa ellie two hundred miles from ils junction wit
pne ate TIE great 81 region tAlrty.iour mile
Auo thc ouar tNcUtysix miles w crrth.-uiakng II a
aAoUt I've E.udfct aud sixty miles broad gau.e trl
huiry Tod. TITO advantages Of this aov read 20 ths
70 caAlnt b. wei over estimated rasslg through Z
ricn Agricultural and manufacturing region into III
most productive pat II uho. and c0nSeeti. hv n.
wiih he OF wells o. Pennsylvania The blyt
ress q vii odd - tho Eric Railway Win be largo 4
s-Leptoc will snon b. mado leadng directly la Clote
lard. winch will render road indercndcnt IN NJ
s0uNlNtstIl oas'nc5 Y, w 49, when have here
or iuiGfy.
uf the recent measures which have been ,akcr
with view to increase the passenger trallc o
the line, the eTort says:--
The directors have recently taken Ing casc H. m IA,
1el q Nay ~ tho iuGilo NeE Yurk ard kti Ian
rn.l ALLh rn-n- .l-c. La rls anl N Ia -.--