The Carbon advocate. [volume] (Lehighton, Pa.) 1872-1924, 1877-01-20

Annual n epOrt Of the Il, v. H. H.
The Lebtgh valley Railroad Company held
its annual meeting OF shareholders for the eleo'
ton Of officers &C.. at the office OF the eompanY'
in Philadelphia, Tuesday. The annual repor'
Of the company was read, t'om winch we gain
or the following facts and figures ns TO 'he Dhs''
ness Of the past year and thu companV's present.
financial SITUATION. T,iis road, II ls Know Is
mainIy coal carrier aud extends from Perth
Amboy. y. j., to wilkrsbarre,l6l miles of th's
distance GO miles are in New Jersey, the re-
manning dlsuance m this state. 1he company
also owns Dranch road, Of the aggregate 'ength
of 1903 miles, aud works SS miles OF leased
roans. Its coal tonnnge for the fiscal year end
ing November 80, 1915, was 3,Os7 .OlS tons, winch
IA G5s 5iG tons greater than in 1876. Tho only
two years In the history - the company show,
ing n greater tonnage were 1873 and 1874 The
income the past year from all sources, inelHding
interest from Investments, amount ng TO SsiOd','
247, from which sum operating expenses, SS,Sla,-
75O being deducted leaves as net income q, lsi.'
497, against 24,C55 O5 OF net income ~ leIo ~
increase OF SISg 292 Tins. considering the great
ly reduced price of coal, is more 1avofaOie @ ior
the business of 1876 than could reasonau,N nave
been expected. The capital account OF tne coin-
pany at the close OF the last fiscal @ enr ssoou t1
preferred and common stock S27,2i8O2Oi funded
debt S24. lS6, 900; and floating deDt,, s4U,,-V9 J
total liabilities capital and ueOI, 5ol , 20, -
This shows an increase OH The capital accOun'
OF ast year of 81 $3.50, which ease Is repre-
sented by expenditures for equipment, sSS5 $50 :
Easton and AmOoy HalIrOad, slOl4 lIO on NC
count OF change OF gauge of lGrie Railway. 500
QUO, redemption OF Norris Canal DOnls' slISoN
purchase OF additional interest," III SShohu & lUiu,
ca and Sayre ItailrOad SI2i 2y6 and advances
for construction purposes to PennsylVaha anu
New York Canal ana Railroad. S2JO,OOO agy e.
gatinR SO, 1856; exceeding the Increased pl,
tal nccoI nj by SssiJS5 since the last annual
meeting tho company have declared Two quar-.
tery dividends OF 2h per cent each anu wv 9, os
| Dor cent, making per cent for the year lne
| mortgage debt Oh the motifs Canal, SiS5,UOO mas
been paid of within the year and cancelled, out
Of funds realized from new mortgase stepnS Sr Sn9
| loan has been reduced t4te2,OOO. rms IS the
| cOmpany's only gold loan The Laston anu Am
| boy HOud has, from its construction, Deeh Op-
| Grated by the main line, and last year thele o
| were carried over it Ssl ,i59 tons OF coal Ino
DOUBLE track has been completed thI33ugn99puiS 3 g9p,i
| extension across New Jersey Is wholly owned
by the Lehigh Valley railroad Company and and
| cost, with Its appurtcnanCes, S96iq,O3o Ihe
Lehigh Valley also Ownes a majority OF the com.
| mon stock, besides S3,977,4OO OF the preferred
stock, Of the Pennsylvania and New \ Olk .t Saial
and RAllrOad o most valuable outlet ana 1eeuef
to its man line, The foreclosure OF mortgage
| of the Ithaca and Athens and the Geneva anu
Ithaca railroads, us n0rtherh c9hbeooUs c9h ' hoI
| the outlet OF the tonnage Of the LeDlgh Nauey
Hailroad, are con nsldered valuable ACQUISITIONS
| worth greatly more than the sale price Ihe
| two cOmpanies, a. reCOgn ,zed INTO one, repre-
sent capital stock of So50.OOO (s69340O Of which
| belongs to the Lehlgh Valley,l suD)ect 10
per cent gold debt OF s6OU,9UO. Inc Whole lehglh
| OF this road is rs mics. The amount OF coal
| snipDed from lands of the Lehigh Valley RaIE
| rOad Company for 1876 was I,jl37Y5 tons, a pO
| tion Of which was sent to market through
rUutes other than their own. The report acknow'
| lodges what is zoo generally know n, that the
mining and selling Of coal has been comtara-
| lively unremuneratIve" during the greater part
| OF 1876. and concludes with the satisfactory dc
| claraIon that neither the lands owned Dy che
| Lehigh Valley Railroad Company nor those
| owned by the Lehigh Coal Company are sub
| ject to any bonded or oCher debt"