National Republican., 1873-11-19
THE MAIN sTKM.

TNE MAIN
The gross earnings OF the main stem, includ-
ing the Winchcster and Potomac, washington
County, and Winchester and Strasburg branches,
and the Metropolitan branch road, from Yoth OF
M 1872 anys ossS ssa s.eSas sSs rcsas sna
machinery In repair amounted 10 N,slsssf.lo,
being 90. 90 per cent. upon the earnings, showing
an increase OF 2 % per cent. compared with the
The calnings, In comparison with the 1scal
year isi2, have increased i,5os, ,372.l6, and the
psrative Increase In the net profits Of stos $50 ~
Of earnings being %, s5o. .is5.2s, and OF worklns
expenses 81, ,4OG ool A. the Increase Of net pronu
amounts 10 ssSa, ,lss.ss During the fiscal year
the sinking fund for the redemption OF the oily
loan increased to q, ,aas, ,sos 20, showing gain Of
Under the action Of the sinking fund for the
redemption OF the sterling loan OF 1898, c52,0oo
Of bonds have been purchased In London aud
Sess shs s1 sSs aus RpGaS saowns sissa
during the fiscal year OF cts. 900, equivalent, at
sisi per pound sterling, TO $sI, 100. In accord.
fund Tor The redemption OF The sterling loan
which natures In 1909, Ia established, car 600 Of
those bonds have been retired and cancelled,
aeSi ,isi.ssi. Isl & T Twcnty.foar thousand pounds pei
per annlm are appropriated for this sinking fund
which, with the Interest aocruing from iis accu,
mutations, will, It Is expected, redeem and cancel
these bonds prior to their maturity.
Semi-annual dividends OF i've per cent. upon
the capital stock were paid on the LIST OF NOvem'
her, lSI2, and on the ist OF May, lsIa, respec-
tively.
The liabilities Of the company, compared with
the statement of september 80, 1919, show the
following reduction, viz: BY the payment OF the
remainder OF the second mortgage bonds OF the
Northwestern virginia Railroad Company, (now
the Parkersburg Branch Railroad Company,
which were guaranteed by the baltimore aud
OHIO Railroad Company, and which matured
January |, lsT3-the original sum having been
si,O01, ,Oo0-si53,5Jo. The liabilities also show the
following increase, viz: Preferred stock, second
series, six per cent. currency, si5,l0o; sterling
loan, redecinable IN 1909, Gi, i,t0o,0Oo, At a.s
gold, ts,22s, go; total, ss,As,lOO. The pront ant
ioss account shows an increase for the past yea
OF s2,ss2, ,l9I.S5.
II viii be seen by this account that the surplu
fund, which represents capital derived Iron
Meeting roads, and the great improvements tina
have been continuously constructed on the mai
liue, and which Is not represented by stock Q
panslon OF the tratic and revenues OF the com
pany have been very rapid, and have require
annually heavy expenditures Of capital for N
increase OF permanent structures, plant, track
and essential facilities for the additional capa
During tSe four years ended soth September
1879, the expenditures for Increase OF plant, viz
Is locomotives, 2oi3 freight and passenger car
80 miles Of second track, for hotels at Cumbel
land, for the European steamship piers, wharye.
elevators nd other structures at Locust rom
for the rolling mill and machinery At Cumbei
land, and for real estate and requisite structure
ut Mount Glare, baltimore, and ~ various sta
ti0ns upon the line, have been.... f,Ils,3Oo
And for the year ended September
90, 1879, viz: 90 locomotives, 2,a02
freight aud passenger cars, 42
miles OF second, third and fourth
track; Improvement OF Locust
Point line, new hotels at Deer
Park and Washington Junction,
and completion OF new hotel at
Cumberland; new bar mill ut
Cumberland, additional elevator
ut Locust Point, new depots and
to,...s.......'.,'.'....'....... ero' ] ~ 4140.os5
poiitSn brsnsS road. ~ ........,. s.Sss,.,1 I
For the construction OF the great
bridges at the OHIO river, at Ben
wood and Parkersburg To con-
meet the main stem with the Gen.
tral ONO road and the Pltkcrs-
burg branch with the Marietta
and Cincinnati road, respect
The Baltimore ana ONO Company
has also relieved, by the use OF
It's earnings, the nrst mortgage
on the Northwestern Virginia -
AMI paid the second mortgage on
the Northwestern virginia rail-
Aud anticipated and retired OF the
S1Oo,OOO third mortgage on that
road due IN lsS5, ..,.............. 5000
All leaving OF the whole amount
OF the mortgage made Tor the
construction Of that road bot
tltO,oOo. which will mature in
lsS5.
Tie following reductions by the
action OF the sinking funds and
by payments have been made Of
tue original mortgage indebted
ness OF the Baltimore and Ohio
FG ioans which m,tured In 1851. 100000 o
FIR loans which matured In 1855 TO
1850, inclusive. e..,..,.,......... 666, 666 .
Foe loan which nlatured In 1901. l,OOo,OoO Q
wiica viii mature in isl5 ....". 2So, $50 Q
In advance on account OF loan
wilch will mature In 1880, ......, if0, 500 0
which viii mature in 1855. ...... w 7s0,soO 0
In advance on account OF loan
which viii mature in is9O. -. 1885, ,s5s Q
Showing total of,..........., t2s,5I4sst .