New-York tribune., 1895-10-18

Cleveland, Lorail 4 Wle8llg
Railway Company
PREFERENCE STOCK.


Tn. nv. p.r cent preferred stock OF tne
CLEVELAND. LORAIN & WHEELING RAILWAY co"-
PANY consists Of nifty thousand shares tooOo" Oh p"
value OF one hundred dollars $500 each
Th. Company makes the following report: Ihe 'he o
RAILWAY extend. from Ioran. the most accessible ano
comnodious port Lake Erie. 10 Be'laire u, oppo
Wheeling West Va. and from Medina TO CieVeana'
total mileage 1903 miles Of main track WIN over ."
miles Of s,dnes branches II passes thfousn I"'
Mas.illon Uhrich.viile. Canal Dover New PhadepnA'
through the coal fields Of eastern oho' ano ,nrous WV
manufacturing cities on the Ohio River OF martin rs.
Bridseport and Be.sre. where connection IL maoe WI"
m. ps,,,nor. Ohio II crosses nearly all the prn-
c,pal East and West roads, and is one OF inc a'se"
feeders OF the Lake Shore west OF Bunaio i"' ep' ~
has extensive docks and terminals al Loran' WIN ~
ties for handling coal and ore The graf p
s business, originates along Its line Of railway
ION July lst Company owned the foio"'hs ea''p
ment namely: 60 Locomotives. n Passenger-cars' NAL
and Expresscars 4057 Freight and all the STOCK
OF the Pittsburgh Wheeling Coal Company 'whcn owns
COO acres OF coa present capacity OF ZsV Tons
OF coal per day. the entire encumbance on he ran
wav terminals DOCKS 20 miles OF sidings. equipment
coal lands etc, Is but $5OooOoo or at the 'a'e " '
s25 600 per mile OF main track
Earnings Year Ending June 3Oth 1875.
Total earnings 40 n,s
Total operating expenses and taxes so'o'o
Percentage OF operating expenses-'os9 per cent
Net earnings ''i'-'
Annual interest charges until 1898. $2e4W0
CAner 1885, s25000o
Less interest bonds for Cleveland
Line ...'..'''''''''''''' ~ 1920
........ 2o2 42s
THE Cleveland only partially opened Tor ou'
ness In Nav hence benefit from that source does not
appear In earnings The year was also one o
business depression and sharp competition.
For many years earning capacity OF the road mas
hesn large and has steadily improved with the growth
and development Of the territory through whcn II runs
The improvements that nave peeh IN pi'se'
for the past two years nearly completed The ter
have heen
tracks have provided and the coal and ore doc"
have been remodeled. The rev works OF the Jonhson
Steel Company located IOrain, are now In operation
and other important enterprises have been attracted TO
our line Large Of money have been spent curing
the past year In developing coal lands tributary to the
railway Masson. giving us the shortest possible
haul TO the Lakes and Cleveland From these sources
the earnings be materially increased and on account
OF the improved physical condition. the net earnings
should be more than correspondingiy augmented
Statement for Quarter Ending October lst. 1875.
PnrtinIIy Estimated.)
Gross Earnings sats sss 70
Operating Expenses Sosoo 20
NJ, rarn,nx. observation-disclosures .$l39 213 70
Deductions from Income
Interest Bonds. ds.........-...........$ .$ooVU
T,xes .................... $500
lanes 745OO %
Balance to Credit OF Income. $64'7lS '3
It is the aim the management by It's conservatism
to place this in the list Of permanent dividend
navers The present earnings the payment Of
DIVIDENDS during the fiscal at the rate OF
50 per annum. while maintaining the property at high
standard In addition should be considerable
surplus the property IN the way OF better
mens thus providing for the continuation OF dividends
and an increase In when It can be safely ac
complshed.
(Signed) NJ ID. WOoDfoRD. frest'
Transfer Agents Messrs. Blair e. Company and
Registrars of Transfer Central Trust Company, New
Yorx.
5000 shares