New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1874-02-03
2AiLWAY INTERESTS.
ANNUAL MERrING OF THE EASTERN RAILROAD COM
PANY-THE CONTRACT WITH THE NAISE CENTRAL
AN AGREEMENT WITH TnE BOSTON AND MAINE

ANNUAL NETTING or THE EASTERN RAILROAD COM
iPANY-ruE CONTRACT WITH THE NAIsE CENTRAL
AN AGREEMENT WITH THE BOSTON AND MAINE
u ROAD. t.,.. -' l.I5... SD. .a.
Boston, Feb. 2.--The annual stockholders
meeting the Eastern Railroad held hare to-day was
well attended. Tho financial report shows falling on
in passenger receipts Of nearly $4,000 compared with
lass year. owing to tho extension OF the Boston and
MAR road from Berwick Junction into Portland. Tho
freight business shows OF tsooo during the
same period. The total receipts OF the year were
is the between the and Mains Central
roads This contract IS for ~ years anu provides mat
the roads OF either party ana those controeu py tne
shall DO operated as ono road and upon the following
basis: ... .,,,
Leased road. Of both cmDan's aa a. as'.ls4 sss
comcsny shah receive Tor trtsn, four al as much ;r e.sa
' stock .ss ;s Of The s. a.. ,9a e.
ROAD. And Whenever companies bs esy
ef ce sh. DC done upon The basis Of .ss :, u eo,s
ration bs tho vus Of share oil the sse Of Ao o'ASr ran.
After reading the report Mr.. Lohrop. tho President
OF the Eastern road said that although no agreement
road or themselves yet arrangement had been yir
tualy agreed upon effect Of which would be mutu-
ally beneficial and which would put stop 10 all the
disagreements OF the past The committees OF the Oh
rectOrs Of both roads had decided that tho competing
reotion executive committee consisting OF three
directors OF each road III; % were ~ asyS
trains fix the rates OF freight and fare which shall 10
business shall receive fair percentage and remain
der OF the actual profits shan DO divided equally.
ana decide what is and what competing business.
The Presdens said that good sense tact and Judgment
were reauired In this matter, but were bright
hopes that this plan would secure greatly increased
The meeting elected the following Board OF Drectors
Samuel Hooper Prsnkn Haven Thornton ohrop ana
s.'ea, o. Boston Henri m,S' 81 '' Zane: ,'S9 Issa
soD u BBsd H.. Arson P. Merrill Of Re'ddeh Ne
CONSOLIDATION OF TIE BONDED INDEBTEDNESS OF
THE MILWAUKEE, AND ST. PAUL RoAD-A PER
CENT DIVIDEND DECLARED.
Much interest has been felt IN financial circles
in regard TO the action OF the directors Of the Mil
waukee and ST. Paul Railroad Company. both as to the
declaration OF dividend and the conso dation OF their
bonded inde ptedness. Tho Board held long session
on Saturday and another yesterday, completing their
arrangements as outlined in The TRIBUNE OF Jan H.
IL was decided to make new consolidated mortgage
on the whole property OF the Company Tor s5SVooo
to exchange for the present bonds OF every class 70 ~
improve the road. provide steel rails ana
build two bridges the Mississippi RIVER
About s26,25O.Ooo will be required to take up
the old bonds; s375000o will be sold during
the present year. leaving s5OOOOO in the hands OF the
Company for future USE The bonds Will be Oh Two
kndssl0 100000 gold sterling bonds aud sS3oo" cur
rency bonds. An English banker has made an oner luz
CoOOOo OF the former with option OF taxing the re-
mainder this offer IS now under consideration ny 'ne
Beard The statement OF the COmpanys business SHOWS
that IL has earned during the past year per cent on It's
preferred stock ana per cent on lts common soch.
The directors accordingly declared dydeud OF seven
oer cent on the preferred stock, payable on the new
bonds and adopted u resolution acknowleoelhH that
s1T5l0OO had been earned by the common STOCK, ana
nedoing Themselves TO IL before paying more man
seven per cent preferred stock The BOOKS OF te
Company will be open from Feb IA to March l. 10 OBTAIN
the of the OckhOders to the proposed cOnsO III
on and TO the dividend which will be- contingent upon
their vote as by articles Of Incorporation the STOCK
thia al he
the majority OF the holders OF each kind OF STOCK Ie
earnings of the present year are estimated az
those of last year having been $lOo8OOV IN excess
those OF 1872 The estimated increase OF tne nrst tIe
months year tue same perlOu
wear s300OOO This estimate Is based on tDe iarRo
earnings the few weeks OF the year, ana the act
that NOT much ns the gran crops OF the sec
tons tributary the road has yet been shipped East
few details in reference TO tho above actlOn rea
be completed and the Board OF Directors Will hold
another meeting to-day.