New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1877-02-16
N. j. CENTRAL FINANCES.

| REPORT OF STOCKHOLDERS COMMITTEE.
NEUTRALITY-SUSPICIOUS. IN REGARD TO THE COM
PANY's CONDITION ExPOsED-AN ovERwHEIM-
ING MASS or DEBT.
The Office Of the Central Railroad Company
OF New-Jerscy. at No. 119 Libertyst.. was densely
crow ded yesterday by the stockholders who mad
assembled report OF the committee appointed
on Feb 7. This committee was composed OF John U.
BookmaD, Charles q. Miller, and George II. Potts Mr.
Booknian read the report which, after reviewing the
igiD OF the Lehigh and Wilkesbarre Coal Company
proceeded as follows:
With annual loss In mining Of large amonnt ana
constantly increasing loss from oyerpaid ROYALTIES your
company in April 1875, agreed tn guarantee the pay
ment OF principal aid Interest 9i sl2oOoo9y on NV,
bono. Of the Lshh ev and ave ac
$I3, 10000 During the year 1874, s3O56,Ss3 ~
,b S books TO Of the the oGs S s
for lands. improvements, wards stations, and Per ann
formation Of the company in 1874 to Jan l. 1877 large
additions from year To year have been made 10 tne
any apparent DEDUCTION loss derrelstion waile
the assets are sweed by charge OF $4,000 for inter
lands BE- Sn TSThd SG So uFS
ton to that amount there Is also s753000 Of the com
p pany as security for loa"s fine os
1877, IL stated to have been s6;32i al Oh. IN IN
coal ' in i HH$ osa,7i4, and in 1876, 2.s8i
which II a n in al sr the Gyc@naSs @ except
1851 57l tons The result Of the mining operations Tor
s,Se gsa % Sns E9' 7e Add interest on
idc property charged in the assets and amounting 70
730 81 less those assumed at the time Of the merger
S170ij9 80; making 81 37,33O ~ showing ACTUAL l9ss
by Operating for three years 73 405 81 Inere also
should be added this the estimated loss and depreea-
ton equipments ana personal properly OF oS Sooo
the total viii be $5273435 81, which shows an average
loss on quantity coal marketed for three years OF
We see BIS the annual statement Of Dec 81 1876. set
down large for the value Of the rolling STOCK
depreciation destruction for the past seven years ex
cept follows ON locomotive. S663l 49, passenger
cars So 74j 81; freight cars, $3.50 oS COAL eloo'-
Sill so; and bosts $4,000 The annuailnyenory cst-
the value OF this property ut 10 less
than the amount given the annual statement 0 the
company, and from the best Information Wo nave glnen
that valuation IN the annual inventory Is uen gieao
than Ii should have been stated We notice III Ie nnul
statement the cost Of the 1873 $50 shares OF the hegh
ing s7ID3II 30 greater than the cost appears on
tine books OF the COMPANY We also hnd IN inc alnuai
are valued at 1877 $50 than their cost We also
notice Brill farm put down at valuation Of $500 600
which requires particular explanation as 1t qua MOI cost
any such AT its first purchase We aso notice IN he
Statement that the NewJeroey stoeEyala ann artte
Company placed IN the assets at sos o. put .ie
property represented by this item II portion VI tbe
property OF the Amer lean Dock and Improvement CON,
American Dock and Improvement Company Is repre-
sentcd BY stock S3oCoo9o bonds SSoU0Vog 8Psl
sos 30, all OF which virtually is one property anu Ias
500, by fcsouOn Of the directors stock dividend Of
% per cent declared, and the amount S2ooooOo
charged TO Land Account, which
ence until that entry was made. Tue
title Of the American Dock ana Improvement Company
was n It PERFECTED until October. 1874. AT this time they
paid the State of New-Jersey 100000 to perfect the
title. Nearly years after stock dividend oil 20 per
cent on the capital o. the railroad company had been
made profit Of holding this Improbable property
We have not considered 1t necessary prosecute
injuries and examinations further. ~ the same system
seems To extend to tine rOadbed, interest account ana
other items The dividends from January 1867 To Jan
uary 1877 aggregated Sl3,2S9.O5i A. The raised aud
irregular charges to which we have called your attention
| arc. fnllp