The Carbon advocate. [volume] (Lehighton, Pa.) 1872-1924, 1881-01-22

T.. ". R. ". Annual Report.
The Lehigh Valley Railroad Company
held its annual meeting Of stockholders at
the office Of the company, in Philadelphia,
Tuesdpy, when its annual report was read.
From the privilege of glance at its most
prominent facts and figures, we are pleased
to state and to congratulate the stockholders
on year Of comparatively regular business,
and which can scarcely fail to prove salts
factory. By the action Of the coal companies
and individual operators the production of
coal was curtailed as required by the state
OF the market and the same course has been
agreed upon for the winter months of this
year. Notwithstanding this, however, the coal
tonnage Of this company exceeds that of any
previous year by 257,44O tons. The total
coal tonnage was-Anthracite,4, A 800, AIS tons
bituminous, 66,309 tons. Total, 4,6f2,72
tons. The income from all sources, includ-
ing interest received from investments, &C.,
amounted to $500, 1885, operating expenses
OF the road, 002,357; balance, $4,59s,5sO.
Out Of which there has been paid: Interest
on bonds, Sl,63O,l12; ividends-January,
April, July and October, two and half per
cent each on preferred stock, $40 $50; Janu-
ary, April, July and October, one per cent
each on common stock, $l,09S,l ,l27; general
expense, interest on floating debt, United
States, Pennsylvania and New Jersey State
taxes, loss on Morris Canal, &c, $742 1852;
amount charged to meet estimated aecumu.
lated depreciations, 5000, ,33s--footing up
S4,472,l6l, and leaving Sl26,4ls to be ad-
ded to the credit Of profit and loss account.
The accumulated deprcciatons charged off, ,
as stated, were, we are informed, principal
y on stock in coal companies and railroad
connections, purchased many years ago,
and which, although proving of great value
as feeders to the company's trade, are not
now worth in the market the amounts
standing against them. AT the, close of the
fiscal year the capital account was as fol
lows; Preferred stock, $lO6,3OOj common
stock, including scrip not yet converted
S27, ,496,S95 - S27,6O3,l95j First mort
gage six per cent bonds, coupon and regis
tered), due in 1898, S., 900 900; second mort.
gage seven per cent bonds, registered, due
in 1910, S6,OO0,OOO, cosoldated mortgage
bonds, sterling, S4,3O4 900; coupon, $2,OOO,-
600; registered, S7,5OO,OO annuity, $780,
900; aggregating Sl4 ,SO4, 900; floating debt,
less cash on hand, none; total, $50, ,0O7 ,l95.
"In accordance with the terms of the con-
solidated mortgage, one hundred and forty
one of our sterling bonds were drawn, pay
able December l, 1880, leaving $4,l6S,OOO
of that issue as bearing interest from that
date. In their report for the year 1877, the
Board informed the stockholders that the
Easton and Amboy Railroad Company had
created II mortgage for $40 900, 900 in bonds
to bear interest at the rate of six per cent
and that we held $5,OO0,O0O of such bonds
None Of these had ever been disposed of, and
in March last, at our request, the origina
mortgage was cancelled and discharged from
the record and a new one created, to secure
S6,00O,000 in six thousand bonds of $1,000
each, bearing interest at the rate of 5 per cen
of which we received five thousand in ex
, change for those of the former issue held by
the Company. The remaining one thous
and bonds will be used TO refund to th,
in payment for the construction and com
pletion Of the line. The total cost, up Il
November 3Oth last, has been $40, ,4l2, 1928 so
represented by S5,OOO,OOO Easton and Am
boy Railroad Company's stock, S. 5,OO0, ,O0
bonds, and an Indebtedness of S4l2,92s s.
TO the Company. In order TO provide mean
: for the payment for the large increase o
0 rolling stock required for the business an,
Tor other purposes, il was concluded to sci
| a portion of these bonds, and IN April las
the Board directed that they should be guar
y anteed, in principal and interest, by the LIE
high Valley Company, by which large
a price could be obtained, and up TO this tim
It 100000 have been marketed This roa
s. is worked as part of our main line, and a
a the amouat given in this report as ntel
est paid on bonds. No change has take
N place during the year in the Board or gen
eral officers" The following is the result
the election for officers: President, Charlie
W Hartshorne. Directors - David Thoma
Ashbel Welch, William L. Conynghau
Ario Pardee, William A. Ingham, Georg
B. Markle, Robert H. sayre, Harry E. Pacl
er, James 1. Blakslee, Robert A. Packe
Elisha P. Wilbur, Joseph Patterson.