The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1871-05-06

election or four directors and transaction OF the
business, win be held In Milwaukee on the 10th OF
june 1871. The transfer books Will be closed from
May % until June 26.
The annual meeting or the Harlem Railroad Com
pany for the election or directors will lie held on the
10th OIL May, The transfer books closing on the sth
inst.
LAKE SHORE AND MICHIGAN SOUTHERN RAILROAD.
Cleveland papers OF yesterday bring details OF the
annual meeting OF the Lake Shore directors held at
that city on Wednesday last Among the resolutions
adopted was one endorsing the loan for the short
line between Dayton and Cincinnati, IN continual
ton OF the air limo between Cleveland and Clncln-
natl. The result OF the election has been already
made known by telegraph. There was only one
ticket and the votes cast represented $50 shares
The following Is synopsis Of the annual report
The arst part Of the report rectes the organiza.
ton Of the company, which is a consolidation OF
several, forming continuous line VI railway from
Buifalo 10 Chicago, $40 miles IN length. The COM
pany owns and controls branches as foilows:-
Eyra to Sandusky, thirty five miles; OAK Harbor to
Mibury, tiftcen Toledo to Elkhart, Ind. 1873;
Adrian 10 Jackson Mich, forty-six, and Adrian to
Monroe, Mlcn., thirty -four mics. The following
roads are under separate organizations, but the
pany:-Detroit Monroe ans: Toledo, sxrydve miles.
and the Kalamazoo ana White Pigeon, thirty ven.
Inc jamestown and franklin road, iifty-one miles,
Is operated by the company under lease; lt Is con-
tempated AT an early day to construct this Inc
from jamestown TO. Asitabua. The Kalamazoo,
also operated under lease. The whole number OF
miles owned and leased by the company is LOLA.
namely, between Erie an Cleveland, and 1913 miles
OF side track. During the past year twenty-five new
engines and COL cars nave been added TO the equip
ment OF the road AZ Cost or S65i309. The present.
equipment consists OF 300 engines, 27i passenger
cars ana GOT freight cars.
The authorized capital stock IL 100000, 900, OF
which sum S35 600 mas been issued to the ST ock
holders OF the various companies entering into the
consolidation, leaving SIS 900, which can be
issued only by authority OF previous vote OF the
stockholders. The ponded debt OF the company
amounts S22 2S3 900, the annual charge for IN
teress on which Is 81 SOL SO. the rate being seven
per cent on all except S20O,o00 which eight per
eell or tins debt nineteen classes OF bonds are Sc
Inc company last July executed CONSOLIDATED
mortgage, with provision for sinking iund, to
secure the payment OF bonds registered and coupons
TO the amount Of $25,00o0o0 bearing seven per cent
interest. or the bonds secured by this mortgage
payment OF the bonded debt at maturity and the
proceeds OF the residue VIII be appropriated 10
double tracking the main line and procuring addi-
tional equipment.
The earnings for 1870 were:-
FROM freight ........................ s,69s, 66l
From passengers. ACKNOWLEDGEMENTS. 4,l636l2
From all other source. 645,367
Total. s1s, 1854
Operating expenses, including taxes,
62 10 per cent. Observation-Disclosures. s,3ss,s2l
Net earnings. s5,oss,7i9
SOCK, eases a. LII o2
Total. OBSERVATION-DISCLOSURES. 49,. 81, 52ea62
New depots and other structures have been built
al q cost oil Sl2656a. Additional second and side
tracks uhrty-four milesl have been constructed at
ali expense OF 1914, 40. The expense for bridge
masonry and permanent embanKment was
$3ol ,0S9; OF miscellaneous construction, $39.44o
During tine year 10 Gel tons OF new and
rcroed rails, including 5000 tons or steel
rails. have been laid. 1t has been determined
to construct during the present year ia miles of
additional double track between Buffalo and Toledo
The Board OF Directors recognize the ability and
fidelity with which Mr.. j. IL. DevereauX, the general
and the other officers of the company nave
their seyera! duties, and attribute TO
their efforts the successful results OF the year.
The earnings OF the road for the first four months
OF the year 1871 show an increase Of $685. 600 over
the correspondent. period OF last year.