Daily intelligencer. [volume] (Wheeling, Va. [W. Va.]) 1859-1865, 1865-01-14
ana Pittsburgh RaIlroud.

Cleveland and Pittsburgh Railroad
The annual meeting of the Stockholders
otthe Cleveland and Pittsburgh Railroad
was held in Cleveland on Wednesday, 4th
inst. The annual report of the Board of
Directors was read, from which We make
the following extracts: The earnings of the
road for the year have been much larger
than ever before, and indeed have exceed
ed the anticipations of the most ssnguine
friends of the Company. The aggregate
Is over two and q, half millions of dollars.
The amount of business which has been
done upon the road has taxed its capacity.
The machinery and rolling stock, which
we're regarded as only amply sufficient for
the amount of business done three years
ago, with such additions as the directors
have been able to make, have hardly been
adequate to the enhanced business which
has been imposed. If the company had
had more cars and more locomotives, the
receipts of the company might easily have
been largely increased without proper
tlonate increase of expenses. The report
refers with qualification to the fact that
the increase of freight upon the road has
come 10 great measure from two articles
OF trafdc-the coal and iron ore of Lake
Superior,-which may be considered the
staples of the road, and argues the impor-
lance OF the. coal and iron trade to the
company, as afording permanent source
of revenue! d.,
A statement of the transactions of the
road for the past year is given, from which
we learn that the gross earnings for the
year were $2,b12,315 90, and the expenses
of operating for the same period ST., $685.
636 so. Commenting on the earnings of
the line, the report says:
| When it is remembered that four years
ago the gross receipts Of the road we're
only million of dollars, and it is now
shown that the'road has earned million
dollars after paying all expenses, correct
idea of the growth of business, and the
increase of its development, may be OBJ
tanned. Notwithstanding the Increased
price of materials for the repair and man.
agement of the road, and notwithstanding
the increased cost of labor and wages, we
still show net profit this year equal to
the gross receipts of four years ago. The
extraordinary expenses of the road, or, in
other words, the additions which have
been made to the cost of the road, have
been unusually heavy, but are essential to
the business of the road, and the benefit
will be found, as has already been expert
enced during the past year, in the facility
and safety of conducting so large bust
ness.
Abiding to the division of earnings with
the Fort Wayne road, the report says the
arrangement on the whole has been salts.
factory, for although we have been com.
PEELED to pay that company larger sum
than was anticipated, the evils of compe.
tition have been avoided, and the attention
of the officers turned more energetically to
the development of the resources of our
own road than could otherwise have been
| do0e and the rannlf han ham yaru
ing. 1t is evident however, from the ex-
perience Of the past year, that still larger
additions must be made to the equipment
OF the road. There is no doubt that the
receipts of the last year would have been
much larger had the company been able to
/ carry more freight, and there is every
probability that the business of the present
year will be in advance of the last year.
Ten locomotives, as many passenger cars,
and two hundred and fifty fat cars, with
an addition of twenty miles siding, will be
needed for the prompt and efficient dispatch
of business.
The financial condition of the company
Is sound and prosperous. The company
has no floating debt which cannot be paid
from the debts due, and all its engagements
are promptly met. The payment of the
two dividends of four per cent. each has
been made during the year. The principal
change in the condition of the company
during the year is that many ofthe holders
OF the mortgage bonds of the company have
! awaited themselves of the privileges of
conFsrtfbility attached to Bpme of the
bonds, and have exchanged thamfu stock
The whole amount of bonds 30 exchanged
DINING the yRRr is tWo hundred and BsEantE
taIDnBRnd dollars. AFTER lfhe msRding Ufthe
repnrt, Rn @lBGf1nn Of 6inartDrB was held
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