The daily gazette., 1879-05-06
WILMINGTON q NORTHERN n. Il.
Annual Meeting - CestssviiIe-In
pOrtamt Bssimoss Considered. /,

.
Annual Meeting at COatesvilIe-Im.
POrtamt Bssimess Considered. -
At Coatesville, yesterday, the annual
meeting of the directors and stock bold
ers Of the Wilmington 3 Northern Rail
road was held. The Morning. Herald gives
the following report Of the PROCEEDINGS:
The meeting was not very well attended
a. not more than b dozen Of It's stock
holders, directors included were present.
1t Ia estimated that about S25 900 worth
Of stock was represented. The only Will
mington stockholders present were j ohm
II: Walraven and Henry 8. McCombs. 4,
Previous to going Into session, the
owners present discussed questions of
Importance to the road. The most vital
OF these was that relating 10 the purchase
Of the Berks Il Lehigh ROAD, running
from Reading to SlatibgtOn. This road
connects with the w. 81 N. at Reading,
and extends up through Berks county to
The coal regions. u.
During the morning, the price that
might be paid for the road, the benefits
that would arise from its purchase. and
other matters relating thereto were fully
discussed. Mr.. H. A. Dupont said that
there would be difficulty met with in Its
purchase. as the +. b X. X. r. would do
all in It's power To keep them becoming
the purchasers. He said that one Of the
prominent men In that company had
made the boast that be would give ST.
600 900 before the w. & N. X. K. should
have 1t. Mr.. Dupont also said, that In
his opinion, 1t would not be wise for the
stockholders 10 give more than $3.50, 900.
This subject was brought up during the
meeting and c0mmitteo. with Mr.. Du-
pont AZ chairman, was appointed to con-
slider the advisability Of purchasing the
road alreadv spOkou Of HI.I|.I !. -t
At noon the stockhOlders' meeting was
held and the report Of the Directors was
read. 1t shows that the earnings for the
year amounted to S129,6Si A; aud the
money received from the Purchasing
Committee of 1877, S2l ,914 53. This gives
$15l ,595 81 as the total receipts. b d
The expenditures were STAT 400 60,
leaving surplus Of ss, 1856 20, ofthe total
receipts, but deficit Of earnings of,
In comparing the accounts Of the COM
pany for the last two years thefe is seen
u decrease of earnings ip 1878 Of 81, ,252.
| 86. The first six mouths Of the wear
howing loss of $l3,044 %, whilst the
last six month exhibits gain of $3,052 81
| The improvements to the road during
1873 we're the reconstruction of the
bridges for sIxty-two miles Of way, at .
cost of $l1 ,730 90, the filing In part anG
| IcDuliuiuS UOO lotb Vi .lEcStiitBt SoSiuk
S3,739 25, and the laying of 200 tons stee
rails costing Qess receipts for old rails
S5,768 % making together total of S21,
236 10, for the complete renewal of struc
turre and material which had been IN us.
for more than eight years. aud whicl
now, for like period, will require bu
incODsiderable outlay. Is
Besides there permanent improve
Uents, 1924 ties were replaced during
the year, as against 13, IN in 1877; and ;
total of 81, I'll during the whole proceed
ing existence of the road whilst the con
dition of the track and Its appliances
have been materially improved in ever,
| respect. iHN
| For a long time the business of th,
road constantly diminished each mOntl
showing a less traffic than the CORES
ponding month of the preceding year
but a marked improvement began il
July last, which has since continued, ant
there IS now a reasonable prospect o.
such further increase as will require ths
use of that considerable part of your roll
ing stock hitherto unemployed; as u
justify anticipations Of not very remote
returns uponyour investments"
The report Off. H. Thompson, Super
intendent and Engineer, contains th'
following details: