The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1879-01-23
The closing prices of mining shares In San Fran

$4,000 pittsburg. Cincinnati and st. Louis Railroad
Company first mortgage seven per cont bonds. due
1900. interest February and August at Oiice OF
Pennsy lvania Railroad Company Philadelphia 81 600
each. l04A; $500 Flint and Pere Marquette Railroad
Company ten per cent land grant bond. due May l.
1885, interest May and November l02; 81 shares Jcr
aey City Gasght Company, S20cach, 1851 II shares
New Jersey Ice Company. Jersey City, 500 each. 40;
LA shares Hamilton Insurance Company, $l5 each,
127ts; 80 shares Mechanics and Traders Insurance
Company. S25 each lG6; 10 shares Stuyvosant Insur
ance Company, $25 each, 122; shares American Ex-
change Insurance Company 500 each. 10l ~ shares
Commerce Insurance Company. 500 each. IL; 8
shares Bowery National Bank 500 each 1856; $4,000
Broadway and Seventh Avenue railroad Company
first mortgage seven per cent bonds, due 1854. in
teress june and December. accrued interest
purchaser. $1,000 each. l0l; $1,000 Chicago and
Canada southern Railway Company first mortgage
Lacy Farm OH company. $40 each, SIS; 10 shares
Sixth Avenue Railroad Company, 500 each; $l16O
Shares KnieIerbooEor Fro Insurance Company $40
each. II; ~ shares Iddgewood Insurance Company,
500 each. 90; IA shares New York City Insurance
Company. 500 each. Is: "a shares North River In
surance Company, SOS each, u7k; 10 shares Conti-
mental Fire Insurance Company, 500 each. lG9H; rs
shares Home Insurance Company. 500 each l23; 10
shares Republic Fire Insurance Company. 500 each.
rs; 10 shares New York Equitable Insurance Com
pany $35 each. 1877; s shares 1Etna Fire Insurance
Company, 500 each IS; 5000 Michigan Central
Railroad Company eight per cent convertible mort
gage bonds. due october l. 1881. interest April and
Railroad Company western dvision) FIRST mortgage
seven per cent gold bonds due 1891 interest January
ern Railroad Company. 500 each. eA 5000 New
York. Western Shore and Chicago Railroad Company
first mortgage seven per cent gold construction and
equipment bonds, due 1901. April. 1874 coupons at
tached. hypothecsted. 1000 each % per bond; 10
shares Third Avenue llailroad Company 500 each.
l26; 80 shares Brooklyn City and Newtown Railroad
Company. 500 each, W.
The following is tho report Of the Illinois Central
Railroad Company
The directors have the satisfaction to refer the
shareholders to the general balance sheet Of the
~ aVAn o~nA n1x~< Sx, t.h
shown gain in net traffic 1877 Of s48s. SGT 30.
This improvement is chiefly owing to the better
%anaaeent The met return asrrom trac
S3Ul6229 -; from lands $64 llS 49, and from inter
est on the investment in bonds secured by the hrst
mortgage OF the Chicago. st. Louis and New Orleans
Railroad Company. $SS.04Q making the aggregate net
income s3l47.ss7 u. From this fund the company
has paid the interest its bonds and two dividends
on its shares. with other expenses. leaving balance
OF $665,532 IL for the year, which. added to
sGoolo3 10 ut credit Of income account the previous
year. makes Sl455 GS5 30 carried forward Ut tho
credit OF income account: The present is IN oppor-
tune time to sift aud reduce to an absolute
1914 81 have been deducted from the surplus
count. The Board has also directed that $lO0O,O0O
account 3nd the other from the valuation OF the
property. spur road, thirty miles in length.
running southwesterly from Otto. on the Chicago
DIVISION has been built In replacing iron rails In
the main track with steel the best Of the old rails
selected and turned to the road at their
ballasting will be completed this spring. This spur
will cost about $250.000 and will. without doubt, be
profitable. Low tolls upon the Erie Canal ana cheap
freight by lake have drawn an immense volume Of
business to the lines OF water transportation during
the months OF open navigation The receipts OF grain
at Chicago In 1873 were 36ooOo00 bushels in excess
OF those of previous year. The early completion
Of the weal Canal viii further verify the expecta-
tons heretofore expressed In several OF the reports Of
your Board It is perhaps woll TO refer briefly to the
astonishing progress OF tho industries OF Illinois.
Chicago IL already great manufacturing centre.
10000 operatives are employed. and the estimated
value OF manufactured products for 1873 IL
$685. suporiuous repeat the obvious
truth that cheap fuel cheap food and cheap
transportation combine there population will crowd
these economical conditions. Tho enormous coal
fields of Illinois are being dcveloped the State il
studded with factores and tho energy which has in
production OF cattle and grain is already showing
itself in the distribution Of its manufacturer not
only to the adjacent and Southern States OF the
Union but to Mexico and the West Indies Tho New
Orleans line 10 greatly improved. Its bridges and
structures have been thoroughly repaired: ten
ginos and 375 freight cars added to the plant $4,000
The line has boon extended three and three-quarter
miles TO East Cairo and new incline built opposite
the Illinois Central freight depot Tho traffic Of the
fever. which also interrupted construction work.
Before this occurred nifty miles OF road had been
ballastcd; this. with tho new rails. placed
tho track Ia good condition for the winter
traffic. Tho sum OF $l.1v9.0O0 duo TO the State of
Tennessee paid. the State lien being preserved
for the bcneAt OF new bonds in tho same amount.
of which $63S.000 bonds were used to refund tho
money advanced to pay the State. The new com
pany has applied the balance OF Tennessee lien bonds
to substantial improvements. at the same time pay
ing from Its net earnings tho coupons the prior
mortgages. including the now first mortgage bonds.
1t has floating debt Whom the traffic again
reaches the s sye , OF inc no.l years
terest payments on the second mortgage income
bonds. OF those the Illinois Central company owns
$49s3 600 besdes 627o2 OF the S6036 shares issued
hU S1fnth Ar