, 1876-01-05
Semi. Report or tho Mich
i.ynn Central.
Tho Reason for tho Falling OF In IT.
Receipts.
First Meeting Of lilo Board OF Tratl
Committee on Determinations.
Boston and Baltimore After Now York'a
Trade.

President Joy aprAky rs fo'towB OF tue busihess
AID present condition Of tho road
Ills not uaull to nakc an5 statement ut tho close Of
The half rear after TIM annual report except tha ol tho
Treasurer, o tho laanc'a CONDITION o. ths .omp"n!.
Tho rast yea however, hn4 been 20 ~ HS
rssuts that tho Doar1 has lcene It ming ~ plaee
tho oat.Bes before lin stockholders IN IN haaloha
a,atcncut. Tho floating debt also requires ozplAna'
lion.
TIN statement @. .l,e Treasurer atows tho cash 1e
copts which ha.e como into tho TEcaurr tho !nser-
eat ua during Tho ei1 1nonhs and tho operating OF.
Icates. they apposr TN hta tooH e1cept re moaLa
t,co.r e1ensca t.s acconuts for those Ut November
not being yet complete. The scceita Are not exactly
o tho earnnSs eeg ~, anann nof' of esr n1
inEs unrealized :. e ato oi any statement Of then'
Tho earnings Of tito roasi aud btasieh
1inea havo bcen for tho past Btx fnontns nm ,x
rhis SiI,H Il ises III" shan they wero for tic corre-
1tS iss sssnfs ssmo i;me' es syc
"a rs,i, aso Hss the war war betoro sssaeo
7es ssye Gen. q abess s
f1F mo1s aae same pe.'oa 'u. p... s2ss4o4oo
re nsnsss aos e"rs: icf tho a:t scar laws
whiio tio;o q il: ;;as period lie
shosins Sesi[s f.ns o in ne. e:ininas o.
Tho . soss sss.e..s 81 Of h' eo a9'a o. s''T
easnnss az - 70 these large amounts, ,,ls. has
ess Tao o 70 ii Ewing
an'l IL lilo ngatea:se for Tho Init six MONTHS on tile
/. IN ios. therefore, loss Of business which has
affected tho reveues, geeauze ~. Larger 1.si,
hes eesn done: y y, m, ,n,arac ao b.pess
Ss' has eon dono Il isss sost ly i i .mp!5
II e tae. 39 ~ g9 II a
coInnrorni.e nmonH competing lines. aud ta lohs ~
rnu expense Of doing tho BUSINESS has 1ccn incurred,
earnings Of hs IT N wsi'o 81 on.hs
ts1,'1s1 uer, is:t % Tho.a ' who have fe.d he lat
rso,necd uon tho ratss of Ill o,nt-onnd fFelsht y
i'd .iaofs poao ssd ssdastass s. s
port. Tho competition which h.s sssnca dr9a s.oa .ho
1nsJina Il nTstclass rsa na. been more fat.l
to tas alnsenineu q sa:cs and practically sn xole
T s m Soss s ss1 f. Iss ss ss
stsoyrd Until Of into Il aa hccn lGne W tyasem o.
contracting BY the ry. soida nnd acs .. =.
claimed tiH at about tte same rates az Wete
eonrets whch ~ rhsl.qs oussss y
md nors ot tle vaue Of th. bustncas's thrown AWAY
hec.so tho rates realized Do not ny eoft q trnspos
taon III rront, mud much more. is loat, H:crlncea
t,y competflton uhtcL realty loots moro like insanity
: than tho reauit Of wsS consideration OF tho ct
VIII ts s,.s ., tn,ng. eoEtlnas. Il E'.uta from
sns ssrses 1sss ame Sy os as
ha e.t IL rsrars twenty.fo1r ho"Es angsr taan y
. when tho rates Tie .amo In determining the cors
u II hs,ncas. ~ tho samo rules could uot compel
pn u son eaaaty a:sst .aa he efts
Il sos di1c?enes II tsrs ra.e. ty ,ares,ne9t an
init 1 n y Il nss .sa r. ~ e. aSa '1a
direct lncs retntc aceeae aud tho result 10 "a
s,Inars LIT a5s s" oho ereioe. :sroye arssy
eastnucd aud tas , s1rs,t!tl'a w .5, X Y
asxa' e nfa y" ssi ss aasns S
10 yrar 1ho controversy viii, tts H. o. oad aso re-
tho passenger .ass avsn Hshfy v AZ .no HI +
" control Of hA conl7ty whlsh hasa 70 ssraoua !,
saeettd railway rrory ena Of oal'1n" @ dnng y
ia aro required In those whn have tho power 70 ob1a
cd tsm eort,in. aud yat TINT tnoy aTc avoided H. n
H. md IL Ia nSed permanently. oavlae.on eassuout
as husiuesr. and iii roads esss ot Chicago sre aeug
ot harusuy Tley will Or later bc obviated vi
es. tho GratI Trunk bscauss huslno7s tho vholo val
10 Of which Ia destroyed, s not worth contention.
nc not aaasa tho permanent bacItca Of al tho .aluc
their wholo b,iainesa from. thoso cities vest raj
I'M o o to- ho dssna ss1a~z' Tsaut, @ sl.i nska
~ arrangement with 1t ~hich shall result n fur nna "
tho iines And will this dacuy urrsngel, It scea.s
and bo clear that there will rsnan 10 gaoa fsason Wny
sss eesssaaea eess 81 Sh,sisa ss 'naS a'' u
10y: Viii 1sea oang Soht Of thi' =: cqmPs III q
!; s,e Ts.2e es su e ras ~
fc" rail enough to ropete tbs main Inns before he l.s
ona sn for 4 sat ssou no. 10
Five hundred tons delivered il 1874. snl :
rbe asse tons hays e. etsn , sits 9. T.
ats Il astn ae tan =
tad. 'oa,sa dsbt. orr tI,an tnia, which ii June as st
incl at s7.oul5is Ana sesn m reduced poe W pasneu'