The Carbon advocate. [volume] (Lehighton, Pa.) 1872-1924, 1883-02-24
The + a. A Nav. o., Annual Report.

tion Company, for the year jnst onded,
says The gross earnings OF the Lehigh
and Susquehanna Railroad and branches
show gain over the previous year Of S72,-
I 544.7l. Passenger and freight earning have
increased steadily for four years, the former
having gained so per cent. and the latter
l52 per cent on the earnings Of 1873. The
receipts from coal transportation show a
slight decrease for the year, due mainly TO
accidents, W Iich curiailrd the production OF
our largest shipper from the Wyoming re-
gion, but as The colierics thus stopped are
again in working order, and as some new
ones have lately been completed, this year
should chow largely increased coal earnings
for the railroad.
Our canals were opened April 5lh, and
there was no cessation Of business on them
till December 4th, on which date they were
closed by ice but their net earnings were
lessened by the effects Of the great rain
storm Of September 23d, which injured the
southern end Of the Delaware Division
Canal and for month compelled the trans
fer Of South bound boats TO the Delaware
and Raritan Canal at New Hope. The two
canals carried 606,l56 tons, decrease from
the preceding year OF 81 ,267 tons, and there
is a corresponding decrease in the net rev.
enue caused entirely by smaller profits on
the Delaware Division Canal. The total
earnings were $l24, $4,000, which was S24,
472 26 less than in 1881 1t will be seen
that our canal revenues are no longer large
proportion Of our income, being for the last
two years about seven per cent of the total,
aud the injuries 10 our system of water
transportation which will occasionally oc-
eur have no considerable influence ON the
total of the years business.
The product of our mines was s49,s9l
including coal Of sizes less than rea, but i
the latter were omitted there would still re.
main the largest yield our coliercs have
ever made. During the early spring we
shall resume shipments from Colliery No.
., which has been put in working order the
fire having. been entirely cxtinguished, and
shall commence shipping from our new Col
liery No. l2, SO that we may reasonably
look for further large gains in tonnage dur
ing the coming year. By increasing the
production and introducing economies
wherever practicable, the price OF coal has
been reduced six cents per ton below that of
the previous year, and this result was &C
compl:shed in the face Of n considerable ad-
vance in wages in July. AS the mines and
reason to hope for equally favorable results
from this years work.
The storage reservoir in Nesquehouing
| Valley aud one OF the artesian wells refer
red to in the last report have been COM
pleted and during the dry season OF the past
year they furnished at oil times a sufficient
supply of water for raising steam and for
preparing coal.
Our revenues from all sources aggregate
81 ,9S9,2ll 81, an increase over 1881 of $685.
6l9 SO. Tho fixed and interest charges in
creased SlS,25O Al, leaving the net revenue
1868 ,292 SO, which is S45 1867 IL in advance
OF that Of the previous year. Two dividends
each of one dollar per share were paid,
amounting to $446.l l0l depreciation on
coal improvements and the sinking fund
contribution of ten cents per ton for coal
mined amounting to Si49,l79 70 were de-
Quoted, and the remaining SCI oil so was
carried to the credit of the Dividend Fund.
The questions between the State and this
Company iu regard to the four mill tax,
which were referred to in the last report are
still unsettled. The Dsuphin County Court
has given a decision in our favor in the
cases on triai,an the State has carried them
into the Supreme Court by appeal.
Our Lehigh aud Susquehanna Railroad
and branches, with their equipment, have
been maintained in high state deficiency
by the lessee, the renewals of rails having
all been made with steel, with which ma
terial two thirds Of of all our roads are now
laid. The double track is being extended
as rapidly as the growing business requires
eight miles only being needed to complete
it to - point of ffty.six miles from Easton,
and forty miles more to double track the
whole road.
The stock holders Of the Delaware Divis-
ion Canal Company have during the past
year largely exercised their option of con.
; verting their stock into that of this Com
pany, and in this way nineteen thousa I'd
nne hundred and sixty eight shares cut OF
a total Of thirty two thousand six hundred
aud sixty shares were exchanged up
TO the close OF the year. Further conyer-
sions are being made, and it is probable
!, that the change will be completed before the
close of 1883, making a reduction in our
fixed charges of sos 1884 per annum.
This Company purchased in January
1882, for 100000, twelve hundred and forty
shares, being about one-quarter Of the stock
of the Old Bangor Slate Company, TO enable
1t TO control the tonnageo Of its slate qusrries
, which are among the largest in the State
1 and produce slate Of a superior quality. On
this investment we have received a divi
denA of SIX per cent out of the profits of the
years business, and nearly as much more
WAS placed by the Slate Company in it,
: dividend fund. branch of our Wind Gar
aud Delaware Railroad has been built lt
= reach the quarres ami the thriving town o
}. Bangor, and we have been operating it 70
= about a month. The tonnage from th,
II slate quarries thus secured will add materi
IS ally to our railroad earnings, as it will pas
J, over our lines an average distance OF abou
t; tiitv miles: Our right to use portion O
the track of one railroad, over which W
n plss to reach Bangor, has been questioned
Is and is now in litigation.
IS The Spring Brook Railroad Company
RI owning about nine miles Of railroad whc
= develops a large timber district near scran
If ton, beng unable To pay the principal o
interest oi loan made by this Company il
1874 ior the purpose nf aiding them To ex
m tend their railroad, have leased their prop
,r erty To us. By this agreement We can ii 1
3, | nlv the net earning ui their road TO The l4a v