, 1873-10-07
11I1l. $G3t tllu, ell. .UU
CCNN FRICTION.


CONSTRUCTION.
Exclusive Of construction expenditurca on ac-
count of other railways which arc owned mud
controlled by this Company the amounts OK
equipment Of tho Chicago Il Northwestern DUR
ing tho past year hnvo been 'as follows:
For the extension from Fort Howard to Es-
canaba now IN oporation), including now orc
to iron-oro mines on Peninsula Division, s149-
861.84; for extension to Broom Mino, $10,472.64;
for changing main limo. Syene to Madison,
s2o, ,s3o.9J; for account OF tho Madison Ex-
te.,aon {now nearly e9mpIsted), sl'554 e4a4s;
via Dsanch e66, ,7o4M for right OF way
atruction q now buildings, s54, ,sc7.s5; !;
for construction telegraph: $sl.75; for removals
tween iron and steel. to roplnco the for,nor,
548, ,037.02 for now slde.traoks S142 225.58 for
balance duo gu Balm rolls for repairing rails,
1871, ,307.76; for new t-On Branch Rond, noar
Ghioego lsomplehtea}, s1e2 sas:l9; 81 for Clark
stroet viaduct Chicago, s3G75.17 Cess e13 603. 40
trucks and viuducts in Chicago; for account
new Bhop-grounds, new enEino-o and now
building for gonorul Offices in Chicago, s13, 500;
for discount on securities provided for construo-
ton purposes, 9472 795.92; for now engines s416,
742.58; for new iron.0re cara, 3329, 50225 for
new passenger, baggage, mnil @ freight, M and work
ing tho amount Of s4,448, 11G.72 expended for
construction. and 81 ,437, ,26a.o0 for equipment.
Total, 81, ,8s3, ,360.G8.
NEW MORTGAGE.
To provide for these out1nys. and to complete
and equip the railroads connected with our Bya-
TEN and belonging to our Company, and to put
the property In d condition Of highest efficiency
for economical aud successful operAtion,--now
made imperative in Wow of the largely- y-increascd
lima Inv {ha ef
and stono bridges as fast as such re-
newals can properly DO made; and to
provide new machine -shops. Of sufficient
and consolidate ita present old, inadequate, out
grown, and expensive shops ut Chicago, and to
supply requisite housing for its largoly-increased
locomotive equipment, and for general improve
ed, in November lust, to create new mortgage
MI its railroads, equipment, franchises. loaao-
holds, land-grant lands, and MI other property,
subject to existing lienB,-of auillciont amount
not only TO provide means for tho above pur-
Ultimate consolidation Of Its entiro bonded
dobt, and the bonded debt Of the otlor
railroads owned and controlled by this Com
pany, now existing under separate or
CARNATIONS, Whenever tho SAID rai1roadB
! e. Northwestern Railway Company. To this
end new mortgage waH created. with tho Union
Trust Company Of Now York as Trustee, nu-
thorizng tho iaaue Of $4,000, 900 Of pcr cont
from tho 1st q December, 1879, III Registered Of
| coupon form, at tho option Of tho purchaser,
with interest payable in gold, at tho Office Of tic
| Company Ill tho City Of Now York, on tho lat OF
fund after the first year established Of pc.
cent oil tho amount outstanding in caoh aud
every year thereafter. or this Issue, tho amount
Of SIS, 749,5o0 Of tho bonds il reserved, and
can only DO igsucd at the option OF the
other iHsgcp Of bonds which constituted ut tllal
lato all OF tho outstanding bonded debt Of thit
Company, mud Of tho companies embraced in tile
consolidation, M specified ~ paid mortgage; mt
ther amount Of SIC, ,590, 800 Of bonds, to rroyido
in like nthnner, for tho retirement and exchange
Of tho bondH and other companies for which till
Company iB Liable by Qwnoral.ip and control q
tho ronds, viz; ef fl, ,72l 200 Of chicago & MI
o00 Of tho bonds Of tho Iowa all4land Aai!ront
GGeaps'' Gsospes, ro%eeaa ''s Psoycot ai,rast
Com compaD{ fa'sgse Pster e0na1 1faaa Of tho co %
tHn' tic Northwestern Union Hallway Company
upon consolidation Of tloBa Companies ro
ni5ectiycly with tho o1,icayo. 4 Northwestern
| Hallway Company. All Ut Which reservations
sHt {o''h To- Iensr1Sa ~ as TarEsgs. IS t 5
and tic residue, to wit III. .051 roo, ia author
izcd to DO issued tor nass Of tlo Company. At
before stated tn tito description of tho bondot
tlpbt, s4634, ,o00 OF these bond1 wer9 sold dnrinf
| tho !aYt fiscal year.
| APPROACHING COMPLETION.
Tho important works Ut construction In whiot
| this Company IL Interested arc happily rapid!
approaching completion, Rnd, by t!.o 1at Of oo
! t0hor Doxt, or s0oner, tho entire line OF tht
Madison Extension, md Of tho Nosthwesterr
Union 1ailway, between Mllwankoo.and FOND u
Luz, aid of }ho Wlnona 4 st. Rotor hal!roat
Company will be In anecossl1l| operation. Tralnf
hayo boon running regularly over t'lo extension
| botHoen Fort Howard aud EHcanaba since lasI
December, aud tho result Of the traffic fully Jus
ttoa tho antic!patious OF thai .eutorprjso 'tht
STEAMBOATS, which bcforo were noccssary to eon'
| nect the line botweo2 theao points by navigation
Of Green bay, have bo&1 sold.
CONSTRUCTION on OTHER LINES.
Besides those outlays tor thp Chicago 4
Northwestern, tho further B,lm OF s4,67a, 1885,
ilAs been oxpondel during tho year for cohBtrnc
tlon On otho1 lines which are embraced IN ths
y,o1. .YGv{ujnns ri liza general oongotnk