Delaware gazette and state journal. (Wilmington, Del.) 1883-1902, 1892-01-21
THE DELAWARE RAILHoAD.


W
Tho Annual Report in Detail--some Very
Gratifying Figures.
Special Correspondence Gazette and Journal.
DOVER, Jan. 14.-The 40th annual
meeting of the stockholders of the Della
ware railroad was held here to-day and
the following directors elected to serve
the ensuing year:
Christian Febiger, President; John P.
Green, l. N. DuBarry, George Gray, E.
Tatnall Warner, Henry d. Walsh,
Joseph II. Whitaker, Manloye Hayes,
Alexander johnson, James J. Ross,
Thomas Curry, Charles j. Harrington
and William T. Records.
Treasurer and Secretary, Manlove
Hayes.
The following report was submitted
EARNINGS FOR THE YEAR.
From passengers. s....................S 3iO,355.14
From freights. ......-.............. S41,243.27
From mails, express, rontS and mis-
ceiianeous. ........,.............,.. :. a9,ssi06
Total 81, 900, a.47
Operating expenses. .f720,S5i9l
Interest on equipment... 15,d14.l0
Balance of rents paid..... 210b2
-- 7s6,5s0S3
Net earnings. gs...................... 1868, ,a92.64
Interest on bonds and dividends on
STOCK. .... ........................ lbi,5Sbs4
Showing balance of. .............s 2Os,soa.70
Fro u which deduct loss for the year
ending October 3lst, 1880, which
under the terms Of tho lease, was
advanced by the lessee 10 be re-
paid out of The future net earn
ings of the road. 16714.d5
Leaving surplus Of. ............s 1g2Os0.25
One-half of which, under the terms of
fha hao 20
and the ether half to the commissioners
Of the sinking fund provided for the
payment of your debts.
The results of the business as
compared with last year show
an increase in passenger re-
celpts of. .....................S 4S,2I3.07
An increase in freight receipts of 1856, ,4T0.S1
An increase in mails, express,
rents and miscellaneous re-
ceipts Observation-Disclosures. 7,4t1.S8
Showing a total increase OF. .s242, 1856. "A
Il will be noted that the principal
part of this increase was in freight
traffic, which was due mainly to the
largely increased tonnage over the pre-
ceding year.
Your property has been maintained in
excellent condition, 98 tons of steel rails,
$3.50 pair of splices, 45,850 pounds of
spikes, and 45,7O3 cross-ties were put in
the track; 62-100 miles of track were
ballasted with gravel; 2 63-100 miles of
additional track were laid during the
year.
Following is the train mileage during
the year:
Miles
Passenger trains have been run. -. 34l, $50
Freight trains have been run. $3.50. .460, ,462
Construction trains have been run. 1881
Total. NEUTRALITY-SUSPICIOUS.. so, ,403
After paying all expenses and credit
ing the sinking fund with interest Sc
cured from loans and investments the
net value of the fund, as of January
1st, 1899, is
Cash and loans. ans..................s1 ..s112, 710, 20
Thirty-five per cent bonds
Delaware railroad, due 1895
amount. S42, $500; par. ...... 35,000.00
Philadelphia, Wilmington e
Baltimore Railroad Company's
per cent registered gold
| bonds, maturing 1926. ........ 16l 900 90
Total ...................... .S30S, ,7i0. rs
After careful consideration by com
mittee of your board il was deemed to be
| to your interest TO acquire from the
Philadelphia, Wilmington s. Baltimore
Railroad Company what are known as
the New Castle branches and the New
Castle cutoff, embracing the track be-
tween the former terminus of your road
at Rodney, and the Shellpot branch of
the Philadelphia, Wilmington & Balti-
more railroad, an aggregate mileage of
about II miles, for a consideration OF
| 100000, of which one-half was paid
in the capital stock of the company at
$50 per share and the other halfin bonds
bearing AZ per cent interest from July
1st, 1891, and maturing July 1st, 1881.
The proper charges growing out OF
this transaction appear in your balance
sheet for the year.
The other construction expenditures
for the year amounted to $23, ,119.45, as
| follows:
Right of way and real estate. ....s 754.7t
| OrgapizatiOn... NEUTRALITY-SUSPICIOUS.. 10000
Second track between Kirkwood
and the canal bridge. ........... 16, ,S87. .OC
Cheswold passenger station. ..... 2,O5S.O .OC
New siding at Pine Grove. ........ 2,919. 7t
Total ..................... .S23, ll9.4J
For this amount stock will be issued
to the lessee under the terms of the
lease.
Respectfully submitted by order Of
the board of directors.
CHRISTIAN FEBIGER, President.
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