The New York herald., 1872-12-11
RAILROAD OPERATIONS.
The New York New Haven and Hartford RsiII
road-First Report Under the Consolids-
ton-Trafic Of the Past Year-Tho
Lease Of the Shore Line Road.

tion-Trafic Of the Past Year-Tho
Lease Of the Shore Line Road.
From the report OF the Board OF Directors or ths
New York. New Haven and Hartford Railroad Conn
pany, just completed, for presentation TO thH
stockholders at Q meeting to be held at New
haven on Wednesday, January 8. 1878, the follow
ing interesting facts gathered In regard to tho
recent consolidation or the New York ana New
Haven Railroad Company with the Hartford anI
New Haven Railroad Company and their
JOINT 0PRRATIoNs:-
On the third day OF August, 1870 the New YOrh
and New Haven Railroad Company and the Hart.
ford and New Haven Railroad Company entere1
into perpetual agreement, by which all the raia
ways and properties OF both corporations, excepf
all moneys, claims and demands which ahOua
thereafter become due on account Of subscriptions
10 tue capital stock Of either corporation. became
JOINT estate, and were brought under the con-
trol and management or joint Board Of
Managers Under this agreement the net
earnings Of the two roads, after the payment OF
all expenses. liabilities and interest were to bO
divided between the two corporations in the pro-
portion OF ffty-seven per cent to the former COM
pany and forty-three per cent to the latter com.
pany. 1t was also provided In said agreement that
soon the necessary legislative authority could
be obtained the two corporations should be merged
and consolidated into one company, and that alt
apportionments Of capital stock under such cOu.
solidation should be made on the basis OF 1ity.,
seven per cent to the New York and New Haven
Railroad Company and forty-three per cent to the
Hartford and New Haven Railroad Company. On
the 9th Of August 1872 under and pursuant to actN
OF the Legislatures Of the States OF Connecticut
and Massachusetts, authorizing the same to be
pany was merged into and consolidated with thai
New York and New Haven Railroad Company, andl
the name Of the latter pany changed to that Of
the
NEW YORK, NEW HAVEN AND HARTFORD
Railroad Company. BY the acts Of the LegisIa~
tai Of the consolidated corporation was limited tO
the aggregate OF the capital stocks OF the two
tal stock OF the New York and New Haven Rail-
road company being $9,O0O,00o and that OF tha
Hartford and New Haven Railroad $e,5OO,oOO. II
was necessary, under the partnership agreement
Of August 8. 1870 that in consolidating the TIVE
corporations the 600 of the capital stock o
the consolidated company should be divided bet
tween the two companies In the proportion Of
nfty-seven and forty-three, as above stated Undei
this division the stockholders OF the New York ana
New Haven Railroad Company would have received
less and the stockholders OF the Hartford and New
the new stock for each share OF their own stock.
To 0bvate this difrculty 1t was arranged that tina
stockholders OF each OF the two companies should
receive one share OF the stock OF the consolidated
company for each share OF stock held by them. ana
that any further interest In the consolidated stock
which the stockholders of the Hartford and New
Haven Railroad Company were entitled to should
be paid for In cash by the consolidated company.
The Hartford and New Haven Railroad CompanY
also owned 1000 shares OF their own capital stock,
which were not embraced in the property conveyed
under
THE PARTNERSHIP AGREEMENT
or August 3, 1870 but which property belonged to
the stockholders Of said company. This stock
purchased by the consolidated company at its then
market value. The sum paid for this stock and the
sum paid the Hartford and New Haven Railroad
p the two and the
division OF the capital stock OF the consolidated
company amounted in the aggregate to $3.50 100, or
$40 80 on each share Of the capital stock OF th9
Hartford ana New Haven Railroad Company. The
1000 shares of the capital stock OF the HartforG
and New Haven Railroad Company have been con.
verted into the stock Of the consolidated company,
and are now held by the latter as an asset. Al
though the capital stocks OF the two companies
were not consolidated until the 9th day OF Amgnss
last, yet as both railroads were, prior TO that time,
operated under the partnership agreement OF Au-
gust 1870, the accounts OF receipts and expenses
for the fiscal year ending September 80, 1872, arc
given the same as though the consoli.
York, New Haven and Hartford Railroad Company
now own double track railroad extending from
Bridge, to the city OF Springfield distance or
about one hundred and twenty-four miles. with .
branch to Middletown OF ten miles, branch ia
New Britain OF two and half miles, branch ia
Sunleld OF three and a half miles, and branch ia
the freight grounds, on the Connecticut River. az
Hartford OF three-quarters OF q mile. AbOus
eight-tenths OF the entire main line, between thd
Harlem Railroad and the city OF Springfield, is now
laid with
The balance OF the main line will probably be laid
with steel during the season OF 1878 Contracts for
steel rails sufficient for that purpose were, for
tunatey, made before the late advances in the
price. The company has also perpetual lease
Haven to New London, q distance OF fifty miles, ar
an annual rent Of sloo0 900 The running equip
Rsad Consists Of occ
motives l29 passenger cars. L0lO freight cars,
forty-one baggage cars, and 26l gravel and other
cars.
During the year ending October I, 1872, os3, lat
miles were run by the passenger trains ana,
sengers were carried over the road or portions
thereof. and 2,579 tons OF freight exclusive OF
trafic on the shore Line division Since the 1st Of
ments with the New York and Harlem Railroad
Company for the use, In common with that com
pany and the New York Central and Hudson River
''"'0'' '0pHy' NEW PASSENGER "A DEPOT
and grounds at and near Forty street, In
the city OF New York. and are now running their
passenger trains to and from that point. The
now AVOIDED and With Se aa
sit by steam between the new depot and City Hail
Park which there Is y every reason to believe viii
assume that the passenger business or the ROAD
will be very materially increased. The directors
contemplate providing more convenient accom-
modatiOns for passenger business at Mount Ver-
non New Rochelle, Mamaroneck, New Haven and
the city of New York, ali OF which improvements
will be carried out with all reasonable despatch
The
BUSINESS AND CONDITION
OF the company for the fiscal year just closed Is SET
forth as i0llows:-
Income from ansportation Of passe S29 Las
Income from ation Of freight. I4Aj953
TRANSPORTATION OF mails, &c.. ISS6W
Income from other sources. asst
Total income 44lS355x
iences, engines, cars. NEUTRALITY-SUSPICIOUS.. 81 Ios97s
Coal wood oil Observation-Disclosures. 278,7y5
General expenscs-wages e. and incdentals. 973659
Damages and gra ratutes s..................... 327ss
Insurance aud telegraph expenses, l0463
Total expenses 81, ,s85 sss
Dcductlng interest," yo1f5