The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1884-05-14
Annual Meeting of the l., h. & w. Stock
holders.

hOlderS.
The stockholders of the Indiana, Bloomington
q Western road held their annual meeting yes
terday, and elected as directors for the ensuing
year Austin Corbin and Alfred Sully Of New
York j. r. Maxwell Brooklyn, n Y; J. B.
Edmonds, Washington D. c.; H. W. Maxwell
Brooklyn, n Y: Joseph Dorr, Boston, Mass;
Ferd ". Peck, Chicago, Ill; G. E. Leighton, ST.
Louis, Mo: F. w Dunton, Jamaica, N. Y;
Robert X. Dow, Claremont, n. H; Charles Stan
ford, Schenectady, n. Y; John L. Farwel
Claremont, n. H.; James K. O. Sherwood, Glen
Cove, L. l. OF the 236, 373 shares of capital
stock. TAG, 691 was voted in favor of the above
directory President Corbin's annual report is
as follows:
Earnings. $50, 022 500 So, 74o 227
Operating expenses 1.9l2674 1,7S7,9O3
Net earnings. 81, los, Coz 1852 ,324
DISPOSITION OF NET EARNINGS
1888 1882
Interest. ....-..............S l4s$75 ss27, 7as
Rentals. Observation-Disclosures. $50, 1854 575, III
G Gshss disbursements $3.50 $3.50 Ss sf55
81 ,O96, aga 1905, 63s
Net balance. .$13 228 surplus $43, 3l4 deficit.
Net.increase, 1888 over 1892 .$56, 542
GENERAL BALANCE SHEET DECEMBER 81, 1888.
ASSETS.
Cost of property SCI 727. 265.96
Supplies on hand for current use 244, SO
Balances due from other railroad COM
Due from United States government 15.396.92
Cash on hand, and in transit.----- 260,933.2O
Total sa5, 3l1 ,O1968
Liabilities
Capital stock y IOOOO,OOOOO
Bonded debt ACKNOWLEDGEMENTS. IA 1877, 10000
Current vouchers. ..-..---..-.--.. $50, 629.O2
Bills PAYABLE observation-disclosures. 100000 90
Accrued interest not due. 22,2l5.67
Balance credit of income account. 500, S74.99
Total 1928 81 ,019 69
President Corbin states that the above exhibit
gives an exact statement of their business and
the present condition of the road. I'VE have had
two very bad crops, and our earnings have been
in consequence very light but take the two
years 1883 and 1882 together, we are quite
good deal ahead-better than this statement
shows because our operating expenses cover
good many disbursements that would ordinarily
go into a construction account, in case we had
money for construction, which we have not At
the same time we have actually earned our in
terest charges for the last year, and the net in
crease in 1883 over 1882 is in excess of $40, 000
There are some MONTHS of course, dur
ing the year when we do not
earn the full proportion Of fixed
charges, because, like all other roads, there are
periods when the business is exceedingly light
Then, again. we have months when we double
our fixed charges. Taking all the years to
gether, however, we have never yet, with the
exception of the one year, shown deficit;
and, if we have as good crops this year as we
ought to have and as we had in 1879 we shall
be good many hundred thousand dollars ahead
Our property is in splendid condition, rolling
stock and road-bed never better; we owe no
floating debt and no car trust. All we want
now is the business which ordinarily comes to
us from the territory through which our road
runs to make it one of the finest in this country
SO far as its financial condition and credit are
concerned, there is not road anywhere that
stands any better"