New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1877-02-21

The following appended to the report rs eX-
pauatory OF several items in the balance sheet FOR 1875
Tie item Real Estate includes the entire real estate
OF tic company, and embraces the dock properties az
WpeI, ~ Ken Rondout and BrOokyn, the valuable pro-
pcrty Buffalo, coal yards at Newark ana hocStr 10
~ the present low values, alone worth July So
I.c " cbcrrv Valley Rairoad was constructed under
town aid at cost Of about 100000 and was purchased
nv ts company IA feeder to TIE Albany and eusque-
hanna Railroad at the low cost stated III the balance
In miscellaneous Assets" apnears an item of
81 400 900 Boston. Hartford and Erie bonds costing
2I 2G- These bonds were taken from the Erie Rall
way Company under contract for the construction of
The Jefferson Railroad, which connects with our mines
and railways with the main line OF that company The
interest bonds is guaranteed by the Erle under
trl tc agreement, and regularly paid by i6 receiver.
The sinking fund from these interest payments repre-
senting now S274545 49, was created for the extgus
mcut Of the principal OF THESE Dohd anu Will NC feached
before their maturity. -, $500, go,
The amount S3,597,O s6 81. together with $i0O00Oo
OF bonds represents the entire cost of the New-1ork
and Canada Railroad, after placing 10 the credit OF the
account the state and town aid extended for Its con-
"kdyanccd royalties" embraces mine rents and coal
paid for advance which the company has the right to
or the floating debt as represented, the items viz,
Interest; dividends, taxes ana December bills agsregat-
Ing ~ 32l 100 -, were paid in January Inc amount
due TO derOsors was also reduced $7l s37. The obi
CATIONS OF the company were increased during January
S4j2 goo, and the company received rom the sale OF
Securities S2S 600 showing net decrease OF obligations
OF S9i6027 Is. and had the 3lst January cash on
hand, $S1l i62 ~.
Tb profit and loss or surplus account reduced from
80 l 77 as of Dec 81 1873, TO 81 04s 1923 Dee. 81,
1876 or reduction OF $l496,474 by the years opera
lions, notwithstanding the increased valuation OF
S54OOOO in the items before mentioned President Dick
son makes point Of the that the company has the
paclty for 600 but shows that the total
consumption of anthracite is only equal TO about two
thirds OF the capacity FOR production II this is so IL s
evident that there one-third Of the capacity which
nuct stand idle while the interest and rents the cap
al thus invested must be paid tho II fully
ployed This is one point which THE TRIBUNE has in
sisted upon enforcing in all its articles upon the coal
trade and the condition of the coal company. He also
attempts justify the leasing OF the railroads as fol-
lows:
TO the acquisition OF those lines the only outlet for
coal yas by canal from mines TO ROndOut on the
North River This outlet could only be used during eight
months OF the year. and We were practically cut oil from
The orcnng OF the Albany and Susquchanna Railroad
connected the mines with Northern NcW-NOfk, ana
reached best and most trustworthy market at All sea
sOs at once demonstrated that those lnallnac
tureIs and dealers who had previously laid IN their coal
during the OF navigation were afdctci 10 TINS
new avenue supply and managers were forced To
the conclusion that the possession OF ts Fouu was ne
cps.ty uness they willing 10 it III tho hands Of
rival interests who, with small amount OF coal could
demoraiZc trade and control theprce oil almost our
entire product
But the Albany and Susquehanna Railroad was not
built by the Delaware and Hudson Company, but had
heen I'm operaon several years before II leased and
WAS as ready and anxious to do business for the coal
company and at the rates, for other parties
The capital debt and construction Of the NewYork and
Canada Railroad the last investment made by the Della
ware and Hudson Company, Is reported as follows;
NETWORK AND CANADA RAILROAD COMPANY