The Lancaster gazette. [volume] (Lancaster, Ohio) 1863-1886, 1868-01-30
Established 1926.

PuOAiO 10 ShO ANNi tHbNAe9S va ITO
owners.
In October 1863 the Road was
sold at Judicial sale, and was pur-
chased by Charles. Moran of New
York in trust Tor the first mortgage
bondholders.
Subsequently Mr. Moran was
prevailed upon by the stockhold.
erS to transfer the property to a re.
organized Company, composed
wholly Of the original stockhold-
ers and creditors, upon o capital.
lied or reduced basis. This was
effected in March, 1864. On the
Reorganization Mr. Gest was elect.
ed President of the new Company,
and a,su ned control OF tho Road,
since which time, he has remained
i'll that position.
a careful analysis Of the annual
reports Of the present Company
show the following financial results
since the re organization.
EEcIiFTs. DISBURSEMENTS. Surplus.
Year "a s5,O,7ls ~ s25G,9e II SA4o9 So
lesr % aG5,i25 u 5z2,0l9 4s 44lUe 20
Year % SCi.s7o % SsS IS2 ~ i,Is7 %
1t is believed that The excess Of
receipts over expenditures for the
year 1867, will be considerably
more than during any previous
year ia the history Of the Road.
The value oil the property has
been largely enhanced under the
able aud judicious management OF
Mr.. Gest. The road bed is now
one OF the smoothesl and safest 10
the State, and will compare favor.
ably with the best and most pro-
ductive Roads. The condition OF
the rolling stock has been greatly
improved and is now safe and
adequate for the business Of the
Line. But the greatest .impt owe.
ment is noticeable in the engines.
Three OF the old ones have been
substantially rebuilt. Two new
and powerful first class freight en-
gines have been constructed ut the
Conpany'S shops aud are now on
! the Line in constant use. With
out the two last il would have been
difficult, II not impossible, to have
successfully moved the freight on
the Road during luat summer and
the present winter. Nutwitbstsud.
ing the business during this period
has been larger, more regular and
moro pressing than ever, hereto
fore, Yet it has been moved with q
.dispalcb and freedom from acci.
dent or delay, equally gratifying
to shippers and the Management.
Thus it will be seen that the
Road-allhoush not at all what it
would be if completed-in spite Of
its early embarrassments, lis isola,
ted condition and tho ininieal po.
sition of some of its earlier friends.
is gradually, but surely. emerg.
ing from its troubles. and is even
now on u footing 10 begin 10 make
terms for itself.
The people on the line should
remember that the Road was built
for, and is operated for their ben.
eft. Without it, cities, towns and
country, through which it passes
, would cease g:Owth and depreciate
in value ofproperty, to the stand.
and Of twenty years ago. Asan in.
vestment, il las but small value &c
its owners. 1t docs not earn three
per cent on ills bonded debit
pays nothing TO the stockholders
Then to whom is it valuable
Certainly not to those who own it.
! Only to those who use it for traveI
and commerce. Let those who cav.
il reflect On this.
The accommodations of the Road
are not all that the Management
desire, but they arc all that it:
revenues can afford. Then mas
mucaus these facts arc favorable
TO US more favorable than we bac
hoped for-let all cooperate to sus
tain, build up, and finally complete
n great work, long under cloud
but ultimately 10 become g chan
mel through which the ruts of com
merce shall be SO deeply cut, tha
nothing shall turn it aside from
being great National highway
So shall SUCCESS come ut last anC
vindicate the sagacity and labor o
those who conceived the line, anc
whose untiring zeal, in its earlier
history, has made its final compile
tion possible.