New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1877-10-24

reminder OF the term at 81 900 900, we rave atoal
from that source OF S2OOOO0Oo. leaving balance due
the Government at maturity Of bonds OF ~
How cun the payment OF large amount be provided
fort IL will not BE- under the law "a constuen oY tuo
Supreme Court until the maturity Of the bonds aud there
viii also due first mortgage bonds amounting !"
$27 332COO a total OF s77 90 500 20. This f. sum
beyond the possibility OF payment money. without re-
lundlng at tine date OF maturity; and the aoltinnii
practical fact exists that the d II morga bonds nave
precedence " the Government lien The holders of the
first m0rtage bonds imply secured The Goyernnnt
len Is in danger OF loss Can this danger be- avoiied Iae
government directors think 10 can nc The estanusl
ment of the sinking fund IL practicable scheme ana
offers n way out OF this difficulty \ SINGING iinie So
taDiished on the basis o. sem annual payments oil sJO
OOJ EACH beginning on tde lst day of January lSt-,
compounded at the rate OF per centum per anhun ~"
tAe term OF twenty years, until tue turty OF IN.
bonds would give total result to be applied 70 We
payment OF the Governments elt"i %
1926 Sc end leave stl due tue Goyernmen,;
sy.3-Oji9 - This balance Will D, dls,. n sog
e'tncf ny the plan suggested N tnc -, =,
yer b. tine simple opera ION OF the hair Transport.
Dn and per cent of net earnings, a. Row prov ld ~
iaN. IA ADOPTION 81 snch "a ~ 81 syls.,i, III,
here outlined Dy The Government ana tue company VIZ
the piincipd and interest of Ia bonds advanced
by The GOyernm mt absolutely certain. 10 Is betesen
pan he prese1le The net EARNING. Tor tne year end
ng Ju 30. lS71, were SS.317OJl So. Toe annual III
sinAins nnd ooul., sl.il80sJ; on land grant oonls
9Jo6lsO; on bridge Uonds, is23-o. SIX per cent INV,
pZ.25073s; estimate average amount % Government
non Onehhf transportation -Hd per cent oil net earn
D.ance over or continsenc.es gxtrlor1nsiy g 9el
ternent- etc, etc, oI Sl.at,,H55 -. Tue
cOmpany's statement OF earuius. account 81
Government Tor the year endluE june 30. 1877. l.
follows: for troop, ~ .272 81 fpr malls, e1of-
OJ5; Tor freight. %4DL756 ~; total ~ 33J9-i o. 3D.
tAs amount the Government = cnuticd % retain on
hf iDr i5 reimbursement under existing law tital i'
rC6ji)2 "a. account ~ i've per cent of no. earnings
tho year herplnDelHre estimated, rt-s.-lp 81
Total s99i.732 9j. This i, wnn fraction OK th" iot
gona estimate the yearly average for The neN tNeht
years tn amount charged zap for TRANSPORTATION OF
mails rests upon tne basis not agfreu % ~ iht Govern
ment. aud the auditing officers Of TIE Ir'asnt- wim
doubtless re IEc- lr amount To- an allowance r"n-drrhn'
DeOw the clam Oh the COMPANY. the Increase Oi pu,
Ootn Tor Government, aud The genera piht'
cn viii ccrrn.j come 3D. thr iuiurc a- DC has D. l"
past, Will, however, surely tiutan the Ivrrisr sla'
II 10 definite pau for tIe p"ruan ~ uG un ADJUSTMENT
OF existing between tue Government sos
company relative 90 the fan rrinnursrnc or tir
iOlner account of the suU-iY bonds Issued u we
it.rr. Tdcu the GJyerumeu. d.rcclOu sugk,-t ta.li
ye-s rrcImle uued o. pass act author 1hs ilc
rotary the Treasury 90 receive irum tIe company
tl4e To ne sdca sums ID, Il ha} eject tn pay ll'"
hands Tor ,ue ct blsAm no or sniE lGHi Lo' i'
eXuu -uIsu meat OF tine utbIty o. thu c1mpty 60 CD
tIOyurauent oh account VI .sta bonds III D. ufrf"4
company wouHd 81 0Ire Upon me determination
o. ..c ave per s.. itself OF provision
law aAd Uc ga a.. ut' o. or tue purpose n'iu'G