The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1871-02-07
CITY INT r. LLIG q " q n.
THE LEHIGH VALLEY RAILROAD.

Aununi Report ofthe beard Of Direct One,
rntions ofIho Board During 1870.
We have received copy Of the Annual Re-
port of the Board of Directors Of the Lehigh
Valley Railroad Company, read at the meeting
of the stockholders at the Office in this city, on
January ..
The report states that there has been a
marked Increase in the coal tonnage of the road,
which reached 1922, 433 tons in 1870, increase
over 1869 of 129l 926 TONS The increase in
net receipts, however, does not correspond with
that of the traffic, as the rates of transporta-
ton were lower than during the previous year.
The receipts of the year from all sources, in
GLIDING interest on investments and income
from coal lands, amounted to S6,20I,214OS; the
expenses of operating the road were - 6l1l-
4O7 49, leaving net income of 81, 5S9, S66'70,
applicable TO interest, dividends, State and
national taxes, general office expenses, etc.
Out of this amount the usual dividends,
stock, we're paid during the year. Payment was
duly made by the stockholders on all OF the
scrip outstanding at the date of the last report,
and the account has been closed.
During the year, Sl27,000 of the bonds due In
1873 and S2500 of those of the late HaZleton
Railroad Company due in 1872, were paid off.
Under the decision of the Supreme Court of the
United States, the interest on these bonds is due
in gold, and it has therefore been so paid
The board advised the stockholders at their
last annual meeting that the further advances
necessary to be made to the Pennsylvania and
New York Canal and Railroad Company, and
needed for the Lehigh Valley Road, would re-
quire large increase of capital. To meet these
wants, and to provide for future contingencies,
the board directed the execution OF another
mortgage, to become a second mortgage as soon
as the outstanding old bonds can be redeemed
amounting to SG,000,000, to secure six thousand
bonds of $1,000 each to be registered and bear I
per cent. interest, free of State and United
States taxes OF these $1,550, 600 have been
negotiated on very favorable terms and the re-
mainder will be issued as required There is
vet unissued of the a., ,000,00 mortgage, S462,
600 beyond the amount of old Lehign Valley
bonds and those of the Hazleton Coal Company
outstanding.
AT the end of the fiscal year November 80
1870, the capital account was as follows
Preferred and Common Stock, 3G31sS
old Le6ieh Valley Bonds outstanding 963,oooOO
Hazleton Coal Company's Bonds out
New TeGish Valley per cents, coupon 80
tered 1850 OoOOC
Floating Debt, less Cash on hand 4l44 71G
Total .s24 16i, ,sl7.lt
Since that date $4,000 of the old bonds and
5000 of the Hazleton bonds have been can
celed.
Great inconvenience having been experienced
from the accounts being kept at several de-
tached points, it was determined early in the
year to rearrange the system and concentrate
the accounts in this city. The practi-
cal result has been entirely satisfac-
tory but the increased amount oi
work requires more room than is
afforded by the present building, and the com
pany has therefore purchased the premises occu
pied by the Pennsylvania Railroad Company
No oe9 G Third sfrant Pess0salUn OF winch II
to be given on the completion of their new Office
now building on Fourth street. This purchase
will furnish all the space requisite for any pros
pective increase of business.
The equipment of the road is now as follows
Engines OF all classes ........,............. IS
Baggage and Express Cars. Observation-Disclosures. i
Eght-wheel Platform Cars ............... .... As
Six-wheel Platform Cars. rs....................... 8
Four-wheel Platform Cars. rs...................... /
Wreck and Tool Cars s.........................
GraVel cars. '..'...''.''
Goal Cars rated as WheeN u u