New-York tribune., 1876-05-22

| i6J''lls7, o,O....s3. 52lq Kansas and Te1ss
"scss5n ..coo... oni"" CAS- sCoso So $40: % ''''''''
| SATURDAY May 20-P.M
The Auditor of the State of Pennsylvania presents
some startling figures in his annual report upon the
railroads of the State, showing that the system Of
''inilating" stock capitals, and OF augmentng debts
has received but slight, If any. check since tho
panic of 1873. 1t will he understood that the report
includes the total capitals debts, mileage &c, OF
all roads reaching within tie States boundaries, 50
| that the Erie and the Lake Shore and Michigan
! Southern Companies, of whose roads only very
small portion lie within the State of Pennsylvania
20 toward swelling the total of S,57i miles Of road
covered by the report. The changes from the pre-
ceding year have been rs follows: 4
s,, CAPITALS, s4Jlg5sss l5t s4slss55j2ss s57s7s 2S;fas
iSesl asSs .D% noA'.-S 4esliss5a 6Olss5ss 47O6SIo
Total liabilities ss2Je5s27e s2.s9oo2s az 7SG7,2
Cost oi WORKS. &C. t44''Ol0z' 11,-yO,ooi oO,oyo'
Balance. "a 9Jl4G9 s4i 4i,0J9,634 s5S4sis
Thus the total pt.s increased SG2, 1885, 152.
of which $G,J5S,5G7 are set down to construction
and equipment, and 500 146.1s5 to other purposes
OF The increase in the debr the Erie Railway contrib
utea the sun of IS 605, 900. Against this enormous
increase Of liabilities there is increase of 1904
mile. Of road 1879 miles of second aud side tracks,
2I cars for passenger trains and 1907 coal and
cars decrease in tho number oi freight OF Isl.
and OF locomotives %. The financial results Of op-
! Grating the roads, as reported, compare as follows:
o,o is2ti H9s.. ssj ls'5; l, p,S5sa.S sss 8
Operating expenses s29iolO5 7'oi6ole S,t2t9s
Net eanings....... sji50c,2So sj2497,76o s,ooaf7O
Allowing per cent as the average rate Of interest
upon the total debt, there would remain Of the net
earnings $1l7Si, 1922, equal to per cent upon the
/ entire capital stocks of Sts2. .2O6,49j. Turning
/ from tiiS showing TO look nj hat the Central and
Hudson Railroad has done in the line Of increasing
its debt wthing the past few years t appears that
the debt Of the Company at the periods named COM
pares as follows;
Total DEBT as per report sepN \ts75.....tioools3t
1o@l ocDl aS PER report SepIN i7tV-.--- t,''i''y'
Increase in FIVE years ........A ........s2d 323oa
or This sum, about 10000 has been incurred
since 1872 by the sale Of consolidated bonds her re-
/ maiGder of tine increase having been by various
issues between 1870 aud 1872
Concerning the trade Of this city, Tie csiSS
| Tribune in recent article upon the railroad con-
! bnation and its effects poiRtedly SAYS
Unless Eer-lork eal provide some ew vet = rouiee
enlarged capacity, with deep wafer, shortening he me
q passage, Il NOS the distance from Buffalo 0sse
10 the HUDSON ana make tlat roue Gee IL coasda
tereors uoon the insane rolier q. ,Is llrog soI il
own Indifference to extostions and mcnopOlie.
Notwithstanding the very low rates offered by the
railroads, il has been seen that over 80 per cent Of
the grain received ct Buffalo since tho opening Oi
navigation has come by water and it now seems
that the canal interest docs not propose to surrtnd
without struggle, for it has reduced its rates ron
cents per bushel, the opening price on May Z, to
g.. cents from Buffalo to New-iork, resulting IA
the total movement from Buffalo east being fO-
lows:
by canalboats NAV 1 10 say lo..........2,2 ss2;s
. I'm 1 81
Excess by tic tsboats...............-..--.lo5 o5o ii6
| It is proper to remark that up 20 the oh mt
the railroads wero leading the canals, 80 that mo"
than the whole Of the excess now in fayor OF @s
boats has accrued during tho last ten days.
| The stock market during the week en- hing with 10
day, has been generally duh but foyelish and IN
settled. Perhaps the most noticeable feature LIS
been that the reports concerning the illness f Goa"
odoro Vanderbilt seemingly haVo cased TO be iSS
tors in the situation; the market in It's fgequsHi
fluctuations often going contrary to tho suppose
! influence of tho cmgeat rmor a. with IT. ls
monotony Of the situation was relieved for &ns'
| day by the sudden and erratc moyemons nisde u
the stock of the Pacific Mail Company, but this so0a
! died out, leaving the operators % mach nuddleds
30 the real situation ever. Seemingly tie Panama
people have secured, through purchases OF the s''
a sufficient quantity to control the election v
! Directors and they appear TO be highly elaied .
/ the victory" but as tho hS" appafeO'p
hastened to throw overheard tleir stock AS sooaS
Tins result seemed certain, the "outs" may P
haps find on becoming the "ins' that the Wv
tory" is a bacrcn one, because as 'ss
gested by zFsse Of the thoughtful oue' "a ~
sellers of the stock AZ present "
the position that entities them TO be tho best lOu
of its value. The coal railroads have been hea'.,
pressed for sale, resulting in New-Jersey CeAI.s
| Delaware, Lackawanna and Western and Dtia'I
and Hudson Canal leading in tho very seaei" -
cline which has occurred. Erie, which also Ds"-
to the system Of coal roads, has not, howeseh"s
pathized to any considerable extent proDsp's "a,
cause it is already so low to be counted ou'' =.
decline that occurred on the last day was dns
general depression and 10 tho expiration OIL e''-1
privileges TO deliver the stock. Lake oho'o A
Michigan Central owed q considerable po','. ..s
their strength during tho ucok to manipni'p,..
which had their motive in an anxiety hos us a.
that of the great general who sighed iof h's-'