New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1877-08-14
LOCAL MISCELLANY.

ANEW MORTGAGE FOR TEN MILLIONS.
TIKI DELAWARE AND HUDSON CANAL COMPANY IN
CREssrs IFS FUNDED DEBT-soME INSTRUCTIVE
FIGURES.
A mortgage for S1O.000,000 has been exc
cuted b tie Delaware and Hudson Canal Company upon
its property in Pcnnsyvana. The Official announcement
made yesterday by the President Thomas Dickson, states
that tho mortgage includes and covers 100000 de-
bente bonds of SOL IL accordance with the covenant
contained in the same The proceeds Of the balance VIII
be used in payment Of such portion OF the bonds que
Noven Der 1877 not be renewed and ID the re-
firing OF the floating debt--about Sl,5oOso INC re-
mainder will place che finances the Company in 20
ston 10 meet all It's fequirements until ls9o even II 'e
sale o. coal is suspended ut competitive pon,s.
According to tic annual statement OF the Board Of
Manse Tor $50 Che floating debt OF the Company on
Dee 81. 1876. WAS composed Of bills payable amount
ing 10 SSs5. 900; dividends and interest unciane"
S35,921 50; pay able in January, S3''75" o.
amount due depositors. S6s4SlS %; December balls
due, 500. $50 q; interest and dividends payable
Jan l, $50 765; sinking fund. Boston. Hartford
and Erie Railroad bonds, S274,54j To- total, S5'l2"-
776 IS This did ncude tue general profit ana loss
account Of - Oi 32S rs. OF this floating don't ioo'-
note stated that "S1.32i19O Is was paid IN January
the amount Cue dciVsitors was also reduced S'''''
Ths obligations Of The Company Increased during
Jsnaary s52 COO and the Company received from the
se OF securities IS 600 showing net decrease Oh %
LEGATIONS of Sgi6UZ7 -. The cash on hand Jan 81 was
sSZl 49, a."
Al tie annual meeting Of tho stockholders held May >
1877 M. Dickson in reply 70 one OF series OF ques
tons stated that ne could not the exact amount OF
the floating debt at that tine, bu lac Was certain mat IL
was mo- lrcr than 40 the beginning OF the year since
The payuen OF The dividend Of August, 1876. the hoa
inc debt had 10, u reduced ab5ut 100000 After care
fu computation h- had found that o. - pc:ton ~ tide
wafer Tie Company could pay an nXud charges. ana or
the fr-t thrce Tonth- - the current year t Tor h'h
had ben made the average prcr obiahed was
little above that d-Urc. 80. -.
Alter u brcame 6Dnfn yesterday afternoon thai 'ue
r,orfrac- haH heen executed, the question was Il ic
edlv asked. what does the Company wanl oi st!cA
larsr OF money n tire statements lhat MNc oa'h
repstcfy pat lFth ly Otcgrs durlDs tle past tW
mouths have been tru ?" In the an sy Uf PRESIDENT
Dickson ir rrl,y the complaint of Henry H. Ana son
asllng Jl4c appointment of rcre'Yer OF thc Cni
pany Is ay--rel that there - mort cage ~ ~ 'C
upOn portion 81 tn cesl lands an Penney taa) ahe
A rair.sd thereon. ard tina; " tEo funded d'st OF
tc COMPANY amounting 20 ~ 3.llboop CONSISTS o. I
hr,t gage, which covers tine ponis dcr I'D 80
1sS4 and 1sel amounting 70 Slntrohey Whi,A NOR
gaze cover, property IN an states oi Nc"l rfA IN"
jersey and ~ tnc bonds oar 40 lS4 Amounting 10
S5.QGp.1Oj winch 4eDenture BONDS, unsecured ~
MORTGAGE ard o. $4,000, which are also ue-
bentufc bonds 40 be paid ia ls13.' -
y Tho present tlc funded uoDt j. increased
S5.1oOOJ0 The capital stock OF the Company -
S2UO0O0JO.