The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1870-05-04
The production of the Company's mines was as

Total, 563,914 467, ,126
found in the accompanying reports of the heads of
departments. The net result is very gratifying.
the sesr Du1ins the only
source Of profit Was the railroad, as the canal was
prices low. Early in May business was almost en-
trely suspended by the general strike OF the miners
and only eSsp atS ahS 70
. a second suspension occurred in the Hazleton,
Beaver Meadow and Upper Lehigh regions soon
after, and the coal from our own mines and the
Wyoming region gave only partial employment to
before the leshet Of 4th Of October which not only
cost the Company largely for repairs to railroad and
canal but interrupted business on the railroad and
almost entirely cut off the revenues of the canal
for the season. On the 9th of October the coal
soyeS by Si WHICH us shs
taton of average of over 5000 tons per week for
the remainder of the year,
high during the last four months of the year, but
the irreguiarity of business was so great as to
neutraize to 8 considerable extent the benefit of
these rates. and the net result on the railroad was
less than fair profit on the same amount of trade
at lower rates, but distributed with more regularity
through the year. The business of the canal shows
very unsatisfactory result, instead OF the antici-
pated profit of over $3.50 OOo based on the average
and the profits on our coal product were no more
than we ought to realize in an ordinary season.
The aggregate net result of the years business,
while satisfactory under the circumstances, was
less by over $500 900 than the estimates made early
for the strikes and food.
RAILROAD
The reports of income for the year indicate the
increasing Importance of the railroad and that the
Company must in the future regard this as its most
certain source of revenue The canal is more liable
to injury from freshets, and, while a valuable aux
Hilary, its entire destruction would still leave the
Company the means of transporting to market all
ties, with ability to increase only limited by its
financial resources for extending track and ncreas
ing equipment and ats necessary adjuncts. The
therefore they
never before, feel that freshet, no matter how
of earning interest and diVidends "a .'
The Wilkesbarre planes were completed and
commenced raising coal september 26th, and they
promise to meet our expectations fully. Such add-
tions have been made to the road and equipment as
our means would permit; not sufficient, however,
to meet fully the requirements of our customers
The details Of these extensions and purchases will
be found in the report of the Presidents assistant
The Railroad Car Trust Association, referred to in
the last annual report has invested its capital of
S75OOO0 in locomotives, so fiat cars and 2250 coal
cars The urgent demand for more cars an and motive tive
trust association, induced the organization in Octo
Der of the Lehigh Equipment Trust, with capital
of one million of dollars. There have been ordered
by the managers of this trust 10 locomotives, 100
fiat cars and 2OOO coal With this addition, our
and 1882 6-ton coal cars. beside passenger and
freight sufficient for present need, being pro-
an OF losS nam eVer bsOse contPoied by one
company 80 soon after the opening of its line, and
probably SUFFICIENT to move all the coal we can
and shops and other buildings.
CANAL"
The water was let into the Delaware Division
Canal On the 10th March, and into the Lehigh Canal
on the oath of the same month, and both canals
were in good boating condition until the freshet OF
4th October, which interrupted navigation on the
Lehigh until November 10, and on the Delaware
Division for the remainder of the season, excepting
on the upper ten miles ana the portion below New
Hope. The Lehigh was closed by ice on December
s, and the Delaware Division December 16. The
freshet referred 70 has, for volume of water and
destruction of property, been paraeled in the his
tory of the Company only by those of 184 and 1862
The damages to the Lehigh Canal, though extended
over distance of thirty-three miles, of sucf
nature that they could all have been repaired
within three weeks. Those to the Delaware Div
sion were more serious. On this Canal two aque
ducts were carried away by the sudden raising Of
the streams they cross before the Hood in the Della
ware river had attained dangerous height anC
two others seriously injured by the same Cause
To have restored these aqueducts hastily woult
have left them STILL as they always had been frai
structures, liable TO be carried away by the mex
severe storm Of few hours duration. II was dc
cided, therefore, to rebuild them deliberately AM