National Republican., 1883-11-27


ing an increase compared with 1880 of
$1,355962.21.
The profit and loss account shows an in
crease for the past fiscal year Of 81 1885, .05.
The surplus fund, which represents in
vested capital derived from net earnings and
which is not represented by either stock or
bonds now amounts to $45, ,763, 47989.
To meet losses that it was expected would
be made in connection with the reorganiza-
tion of the Marietta and Cincinnati company
(now known as the Cincinnati, Washington
and Baltimore Railway company, and which
realized and estimated now. amount TO
$6,906, 1928, and those incurred in
aiding the reorganization of the In
dianapolis, Cincinnati and Lafayette company,
73,245.75, the following profits and invest
ments were reserved, and have been hereto
fore held in outstanding accounts and losns'
and not credited to the profit and loss
account, namely: The profits on the Pitts
burg and Connellsville loan guarantee ac-
count; on the securities of the Virginia
Midland railway company, and on the West
Youghiogheny railway, and for additional
Investments in the Hempfeld and the Balti-
more and Ohio and Chicago railways. In
additional to crediting the sums of these
accounts for the purpose of meeting the re-
mainder of those losses, 1885,, ,S4660 have been
charged in the profit and loss account thus
reducing the earnings of the surplus fund for
the fiscal year from $2,710,667.65 to
81, ,S55, ,S21.05.
The heavy losses made through the assist
ance rendered for many years to the Marietta
and Cincinnati road to secure the completion
and effective working of that important line
it is believed will be justified, great as they
have been, by the results which will be real
lied in promoting the trade and intercourse
between Baltimore and Washington and the
city of Cincinnati and the entire southwest.
Within a brief period an additional line
from Columbus to Clinton Valley on the Gin
cinnati, Washington and Baltimore road will
be open to be operated in connection with the
Central Ohio and the Ohio and Baltimore
short line and the Pttsburg Southern road,
making direct and excellent route for pas
sengers and freight between Pittsburg and
the Pittsburg and Connelsville road and the
city of Cincinnati and the southwest. The
payments of investments on account of the
sinking funds, for the redemption of the
sterling loans due in 1895, 1902, 1910, and
1927, during the year amounted to
$627, ,395.09. which, at $4.s4 per pound
sterling, make 9l29,627, Is, Cd. The fol-
lowing statement shows the payments made
and the increments in sinking funds during
the fiscal year for account of the respective
debts. Increment of sinking funds for the
redemption of the sterling loans due in 1895,
1902, and 1910, $579,4642S; payment on
account of the principal of debt to city of
Baltimore for the purchase of its interest in
the Pittsburg and Connellsville company,
$4,000; the Pittsburg and Connellsville
sinking fund, $27, ,22332; the Baltimore and
Ohio and Chicago Rrailroad companies sink
ing iund, S47,930.S1; the Washington City
and Point Lookout Railroad companys sink
Ing fund. 1885, total, 300, ,4S3.41.
The tonnage of through merchandise east
and west has been 2, 2,108.325 tons, while in the
preceding year it was 2,0i3,227 tons; 701 1885
barrels of flour, and 12,770,392 bushels Of
grain as compared with the preceding year
ta pf hua oh 1u
were wheat, 4,935,900 were corn, and 1, 1859
bushels were oats, being an increase of 46629
bushels of wheat ABA, ,1S1 bushels of corn,
and 9,905 bushels of oats. In live stock the
traffic has been 90530 tons, an increase Of
10,246 tons, and in lumber brought to Balti-
more 332 tons, decrease of 1884 tons.
The coal trade of the main stem shows an
aggregate of 25Sl ,557 tons, which includes
409,695 tons for the companys supply. OF
this quantity that transported for the public,
delivered in Baltimore, is 1654,s2 tons, and
that delivered at local and western points,
5lT041 TONS In the fiscal year 2,402 130
tons of coke and coal were transported on the
Pittsburg division and 6S4,696 tons of coal on
the trans-OhiO divisions. The aggregate of
coal and coke thus transported, including all
divisions, was 5,66S, 3S3 tons, showing an in
crease for the year of 81, 1867 tons.
The passenger earnings exhibit an increase
from 1929 4Ol.l7 in the preceding year to
$2,020,2s4.
All the tracks of the main stem aud of
nearly all the branches east of the Ohio river
are now laid with steel rails. The increased
cost of steel rails substituted for iron has been
uniformly charged to the repair account.
Notwithstanding the excellent condition
and satisfactory working OF the Washington
branch 1t will be observed that the net earn
ings compared with the preceding year show
an increase of but $9942l, while the Penn
sylvania companys line between Baltimore
and WashingtOn-the Boltimore and Potomac
road-forits last fiscal year shows an increase
in its net earnings over the preceding year OF
S1S0.77S.13 This comparative increase arises
exclusively from the control tho Pennsyl-
vania company at present has of the lines be-
tween Baltimore, Philadelphia, and New
York.
Upon the completion of the Philadelphia
0ranch of the Baltimore and Ohio road and
the Baltimore and Philadelphia railway the
difficulties which are now caused by delayed
aud unsatisfactory connections will be reme-
died, and the Baltimore and Ohio company
will then be restored both for its southern
and western business to position which
will enable it to much more successfully
compete for all northern and southern
and western traffic. 1t is expected
on the opening of the Philadelphia
branch of the Baltimore and Ohio road and
that the time between Baltimore and Phia-
delphia will be duced to two hours, between
Washington az 1 Philadelphia to three hours,
between Baltimore and New York to four
hours, and between Washington and New
York to five hours.
The Baltimore and Ohio Railroad company,
under resolutions adopted unanimously by
the stockholders, is building the Philadel.
phia branch from point of connection with
Il A. -.