The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1876-01-10
STOCKHOLDER'S MEETING.
pnuaI Session of the Cleveland and
Pittsburgh Railroad ConIpany-Di.
KectOrs' Report.

the annual meeting OF the Cleveland
and Pittsburgh Railroad Company was
held in Cleveland on Wednesday last, at
which report was presented from the
directors. 1t says:
Receipts arising cut Of business and
assets OF the period previous to the
lease of the road-nterest, dividends,
&c.-amount to Sl3,GS5.1l. Expend:-
lures of the same class TO S3l, S70.6G.
The latter includes settlements of dis
puted tax claims with the United States
and the Commonwealth of Pennsylvania
in both of which, adjustments regarded
AS very favorable, have been amlcably
settled, the excess of expenditures over
receipts, SIS, 1885, being paid out OF the
funds in the treasury FROM previous
years.
The mortgages of the company show
the following changes:
Of the second mortgage bonds out
standing at last report, $1,000 have
been retired and cancelled, and but $500
remains unpaid.
The third mortgage, $4,000, which
! matured on the first OF last May, and Tor
meeting which provision was announced
| to have been made at the last annual
report, has been substantially retired;
but $l2,500 of the bonds remain out
standing, the funds to meet which are IN
the hands of tho Farmers Loan and
Trust Company, New York, awaiting
their presentation.
| The consolidated mortgage has been
increased by the issue of 81 $4,000 bonds
under the provisions of the lease to pro-
vide for the liquidation of the third mort
gage and $40, 900 have been retired and
cancelled in the sinking fund. Outstand-
ing at this date, s2,70l 900.
There have been issued of the con-
.truction and equipment bonds 100000
in liquidation of the claim of the lessee
on account OF improvements upon your
property to December 81, 1874, as nd
iusted and approved by your directors,
A small balance of S543 79-less than
bond-is carried forward TO the
credit OF the lessee in this account, after
charging up the 100000 bonds.
There have been retired during the
wear of this series of bonds, in the Sink
ing Fund, $4,000. The outstanding bal
ance rs the closing OF the books is 81 ,3l2,-
600.
The trustees account for bctterme1ts
shows an expenditure for this year OF
1921, 1876.
The lessee reports the business OF the
road, as per requirements of the lease
Tor the thirteen months ending Deem
Der 81, 1874, as follows:
RECEIPTS.
Gross earnings OIJ,lS y
f., r. w. Il y. Railway Con-
Solidated earnings.......... SOL -
Other sources....... ................". l,o'i ~
Total recaiptS....-... ....."..-..s5, li),21 .
EXPENDITURES.
Operating DSi,I,- II
improvements To the property. 5!,9I ;,
Rental, interest, Ic,............... l,'td,dIS vi
Total expenditures........".... ,Sl ~
These figures show a surplus earned
over all classes OF expenditure of Sl73,-
3S5 SO.
The report is signed by j. \. McCul'
Tough, President.
The stockholders proceeded to the cleo
ton OF Directors, when the following
were chosen: J. n. Mccullough and b
f. Jones, Pittsburgh; Thomas a. Scott
Philadelphia; John b. Trevor, :. ). Til
den, Charles Lanfcr, George W. Cass and
Isacc Kipp, OF New York; Reuben F
Springer, Cincinnati; j. V. Painter, Jas
I ~ and u Ruppnv flnvplun1