Ashtabula telegraph. (Ashtabula, Ohio) 1874-1880, 1874-05-09
Frsm the Cleveland Herald.
Q A. NJ RufIrrov

The aunGal mprIing at the sIuckhuld rs
uI the l. S & NJ Railway Company
WAS held in Ihis CRY un Wednesday last
The report ni the dIrt clOrS, presented NJ
he meeting, has hc,-n given at length IN
our columns. II shows the whole numth'r
of miles of railroad owned and it''ise'l by
this Company Ia be one tl.uusInd OIir
hundred an1 tighiy one mills. the bond
ed debt had been incr, aSed during the
paSI V ar s. 224,O0O, m king the ho Idrd
'i'-hi ni tn,- Company $50 l95 100, or in
cludinS the Inns owned hy hui under
separate ORGANIC riinns, $3l. 10000. A
SECOND general mortgage ut SO 0O0,OOO
has been aHthoriZed, but not ISSUED, in
1873, " ill which la relirr SO ,00O, 900 i>su..
nf hOndS OF 1862 fund the lSrg'- Il Ialimg
debt, aud IN II I'll pressing n C SStieS Oi
Ihr road tnr construction and equipment.
This, when all issued, make The whole
mortgage ind bie;!ntSs of The Company
$50,OO0,O00. The ST cund mOrigagr hunds
vii however, he issued only a. ur.eut
Hrcrs>iIy demands. During 1873, The sum
expanded ON account of construction was
81 349, ,954.Sl. The gr,>s amount ui earl-
inas was $I94l4 509 26: n,mraIinr rx-
penses and lakes $l3.746 5gS "a l. avin-
u I earnings $5.661,9IU.72. d dnctin. in-
ter st, leases aud dividend On guaranteed
stock, The mel amount upplicr rhl. Ia :nm
mon stuck divitl' NILS was $3.0I3. .350I5
hrin: ahnul six and one tenth per crnI. ON
The capital stuck. The p rcrnIa.e nf OPP
rrsiing expenses was increased materially
hy the large amOnnt Of steel rails laid tlu
ring the year There WAS am increase i'm
fright rrCt tiptS over the pTrct ding wear
q II and sevrn-trntlIs per cent, and i'm
M int. ,,E l.
cent The PASSENGER inrrrns,. is de-
rived mainly from loo Il huSint S., a lac
thai is mol without It's Sigmticlnrr. The
Report ailuhts Ia tn. embarrassment uf
Ihr COmpary in The summer ni 1873. from
Ih' large floating delhi iacurr d, Ihui en-
barrassrnrni lp Ing so much increased 10y
| The panic of the auinmn as 10 nrcrSsilalr
the passing of the February dividend A
more promising state ut 6nancts now ex
isis.
Al the election of Directors held in the
afternoon. thirty millions out nf the filly
millions c,mprising the full cIpilal Stock
ct the Company were voted ON. Tn.
ticket elected diff red from The comp,iSi
| tinn of ihr old BOrrd in the substitution ni
Samuel F. Bargtr and Eugene N. Rnhin
son, of New York, for Jam. S H. Banker
and AZariah Bontly. OF New York. The
r nsnnS for the change will occur TO all
acquainted with lnsI years history ut Ihi.
line. Mr.. Banker was The Treasurer of the
| Company, and the embarrassed condition
"i its financial affairs was prnducrd und,
his management of the finances with the
| l1l- Horace f. Clark then President. His
| dropping nul of The Board could nOI Il,
unexpected. Mr. Bondv was Pr, sidrni pl
The Toledo, Wabash & Western. When
he was nusted from the manal ement 10y
lhr election of Gov. Cox there vas nn
longer reason for his r,-m ining un the
| Like Shore Board. The Olhrr members
"f The Bnar,! are. as b FIRE, Cnrnt Illus
Vanderbilt, William =: Vanderbilt, and
Augustus Sch. L, nf NV York: Henry
b. Payne. AmasA Stone. Jr. and SIillman
viii. Of Cleveland VIM, L. Scntl, Chns
VI. Reed, and john A. Tracy, of Ell Al
''rrt Keep, oI Chicago and VIM. Williams,
Ol Buffalo