The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1867-01-14

chase OF the bonds as opportunities offered
They having now been all cancelled the amount
is restored to income account.
For the greater security OF bondholders, the
following mode of registration of bonds matur-
ing after 1871 has been adopted, to take effect
n the 10th instant, viz. =
Agreement made this Fifteenth day OF January.
a. ID. 1857, between the Philadelphia and Reaolng
Railroad Company, OF the first part, and the under
bonds of the party of the first part dated the
day o., 18---, and payable on the---day
Of the second pait:
Whereas, The party Of the first part have offered
to the holders aud owners of their said bonds the
privilege Of having the registered the books
OF the Company, and made transferable only as
hereinafter mentioned, and the parties OF the second
part have avaled themselves of the said privilege,
and have had their bonds so registered and the
same have been stamped in attestation thereof and
the names Of the owners duly register NotO IN con
siderGtion thereon the party OF the first part hereby
covenant aud agree with the party OF the second
part, that the said registered bond shall be trans
ierable oniv the books of the said party OF The
first part in Philadelphia by tho reRistered owner
IN person, or by attorney, and are TO pc pay able
only to him, or TO ns assIRns baS the said Tegstra-
ton shall not m any wise prejudice or affect any OF
the privileges or securities attached to the SAID
bonds; and that the interest due thereon shall be
payable 60 bearer, as heretofore, on the presenta-
bon Of the interest warrants annexed thereto; and
the parties of the second part cOVenauG and agree
with the party OF the fist part that the SAID
registered bonds shall be transferable and pas able
only as herelnbefOre mentioned; that the interest
thereon shall be payable by the said Company only
upon the presentation Of the interest warrants or
signated and that, upon payment Of the said inte.
rest warrants, when presented aforesaid, all
liability of the said Company for the coupons 50
Witness the hands and seals OF the said parties,
respectively, the day and year first above wn ten.
The agreement with the Atlantic and Great
Western Railway Company, winch was appended
to the last report, has since been the subject OF
litigation, and has been sustained in every par
ticular by the highest legal tribunal in the Com
mOnwealth.
Artor ,,.l,;,, tho 1od,ot;o,s t,,o,,, i,,oor,o N
count, previously stated, for rolling stock, etc.,
and the declaration Of two semi-annual divi-
dends OF i've per cent. each, there remains
reserved fund Of $l,6O3,255 5Gl00 1t was
deemed judicious 10 give the option to take
the dividend declared in December last, in
money, or stock at par.
portion of the surplus will be required to
meet the & bonds, amounting to S408, 900, which
are payable in London on the first OF July next.
The remainder is available for the purchase OF
the bonds maturing in 1870, and Tor such other
expenditures as an increase OF business may re-
quire. A portion OF these surplus funds has
been invested in Dnted states Seveu.thirty
Treasury notes, and the remainder loaned on
satisfactory security, payable on demand.
BY order of the Board of Managers,
CHARLES p. SMITH, President.
Philadelphia, January IA, 1867.
after the reading OF the report the follow
ing series Of resolutions were presented and
adO0ted:-
NtSOtOtO Auhl thb AGpOAg VI IiAt bOal "a VI AAu''0
gers this day presented and read, be and the same
Is hereby approved accepted, aud adopted.
ResolUea, That the Bosrd OF Managers be and they
are hereby authorized at their discretion to carry
into effect any of the measures proposed in their
report and If in their opinion nCedful to enter into
any contracts or agreements tor that purpose.
ResOiUed, That the powers and authorities con-
terred upon and granted to the Board of Managers
by the resolutions passed at prior Annual Meetings
be, and the same are hereby, continued.
Resoivrd, That vote of thanks be, and the
| same is hereby, presented to the President and
| BOARD of MANAGERS, tor the able manner which
the business OF the road las been conducted during
! the past p ear.