The New York herald., 1878-01-16
THE LEHIGH VALLEY RAILROAD.
FAVORABLE REPORTS OF THE CONDITION OF
THE COMPANY.

ANNUAL MEETING OF THE sTocKHoLDERs-
FAVORABLE REPORTS OF THE CONDITION OF
THE COMPANY.
PHILADELPHIA, Jan. Is, 1878.
Tho annual meeting Of the stock and bond holders
ofthe Lehigh Valley Railroad Company was held in
this city this afternoon TO listen TO the yearly reports
OF the officers the company and elect reelect
the managers Tor another year.
THE PRESIDENTS REPORT.
The report OF the President Asa Packer states that,
'not withsandng the interruptions To trade in con-
seqencs OF the general strike Of railroad hands
ana oi the suspension Of work IN the mines OF the
Wyoming coal fields which lasted for ton weeks the
total tonnage OF tue road exceeds that OF any
previous year. The totals tor the past ve years. In
GLIDING anthracite ana bituminous coal. are:-
Tons Tons.
1s7S.......... 4,l72 1863 lsI6........... 39e7,Ols
ioIt............ 1900 ioH'.....'..'.s 4osA,@oo
This shows Increase Tor 1877 Of 604. PCS tons
over 1876"
''rne ucome from all sources including interest re-
ce.ved from investments, &c, amounted TO
ST. 100 2lS 94, while tho operating expenses of the
road were So, 49,, S22 O6, leaving the net income
So 937 1896 SS wncn last year s. 1914 4e7 IL Out
OF the net income tor this year there has paid
S. 167 23 including interest on bonds dividend
anu geaeral expenses interest OF ioatng debt Penn
sylvanta and New Jersey State taxes, loss on Morris
Canal aud all coal operations THIS leaves the sum
OF $751; $50 GS TO be added to the credit o profit aud
loss Inc capital account the close OF the fiscal year
Increase Of $500 $40 66 over 1876.
'.During last year tho Investments In coal lands
Increased by purchase oil interests In properties
the line OF tho road ior which tho company paid
$292, 500 As provided in the sinking fund Tor our
sterling loan, ll9 bonds were drawn payable December
last leaving the amount Outsa an0iDg and bearing in
tersst that date $4,573O00. Tne net earnings OF
tho Easton and Amboy Railway Company which Is
worked tho New Jersey DIVISION were $5lS, 100 So
"At the request OF the Board q mortgage ior the
maximum sum OF $4,000 200 was made by the above
company, covering all their property, anu their bonds
bearing per cont Interest," have been delivered to
the Lehigh Valley Railroad Company to the amount OF
So 000 IN partial payment for tho money expendcd
by US the construction OF the road The Board also
hold 900 oil their stock. being all tnat has been
issued 1t not proposed ut present 10 dispose OF any
Of these bonds says the report, "but should we wish
to do so in luture they Will form very desirable in
vcsimont security, being first mortgage on double
track railroad Of sixty miles 10 length, with wharves
OF the fullest capacity on the tide water, having
business already established, and costing at the close
OF the year $40 14735 a. represented ny tho above
named So 900 OF stock. So 600 IN bonds and an
indebtadness oil $147, ,3I5 GA to this company
"rne trade over our northern connections has also
increased largely, particularly the general freight
aui Il. X. Company, whose report Is intended to be
published herewith. We have received from Them
$347 740 in cash. ten per cent divldend i0r 1874
upon their preferred stock held by us IN that year.
Their accounts for the past year show tnat an equal
amount has been earned for the preferred stock OF
rent year"
oFPIcERs CHOSEN
Tho following officers were elected for the ensuing
year--Presdent, Asa Packer; Directors, Charles
Hartshorne, William ". Longstreth j. Gillingbam
Fell, William IL. Ga,zmer, David thomas, AshDel
WEIGH William h. Cony nghaIn, Ario Pardee, William
A. Ingram, Joseph Wharton, George d. Markie and
Robert H. Sayre.