The morning times., 1896-03-03
Balance TO credit of pront ana loss
December 3lst, 1895 . s2a SIS. <ea So |

December 3lst, 1895. .......,. s2a ses, <e9 So
Inc preceding statements show thai
after having provided for ali the fixed
IlaDlltleS or your Company, and eXpendiDg
over 81 800, goo in improving its property
lhere remained the sum of 1884 ,469. SO,
OUT or which were declared dividends OF
rive per cent, leaving So. I69.45S 6S to be
carried TO the credit OF profit and loss ac-
count. In view OF the fact that the low
rates prevailing on both passenger and
freight traffic for the past few years con-
tinued during sos. il would appear that
under any reasonable conditions your
property viii make fair returns to III share
holders.
1t had not previously been the custom I'm
stating your accounts at the end OF the
year TO charge up the amount of accrued
interest on bonds and other obligations
OF your Company TO the LIST of January
Following, or 20 take credit for the amount
or Income that matured upon securities
held by your Company on that date; but
your Board has now deemed it proper tn Il
hoth these amounts should be taken into
your accounts for the year. 1t will there
fore, he seen that there has been debited
20 profit and loss the sum OF $3.50 ,537.l1,
being the difference between these two
amounts, in addition To which reduction
has been made in the value OF some OF
the securities held by your Company,
and in settlement OF Old accounts, making
a total charge TO profit and loss OF ST.
~ ,621 90, and leaving $50, 500, 469.S 6
SINKING FUNDS.
Under the provisions OF the consolidated
mortgage orthc company, 1924, $50 were set
apart on the first day OF July last, out OF
the net income, as a sinking fund for the
redemption OF the Outst anding bonds
secured by that mortgage. None OF the
series OF bonds to which the Sinking Fund
was applicable could be purchased under
the terms of the Trust. and the amount was
placed 10 the credit of the trustees for in.
vestment under the terms OF the mortgage
There are 81, 307, $50 81 In securities ana
cash in the fund for the redemption OF these
bonds.
The trustees of the sinking fund for the
redemption OF the Trust certificates issued
for the purchase of the shares of the ca pital
stock or the Philadelphia, Wilmington ann
BaltiT9ore Railroad Company were not able
60 PURCHASE any or these certificates dur
chased and cancelled to December 31st
1895, is, therefore, S2,29S,00 leaving
outstanding STOP 900.
The trustees OF the sinking fund for the
redemption Of the four and one-half per
cent. Collateral Trust Loan were not able
to obtain any of these securities during the
wear a the limit fixed in the agreement
The amount OF this loan outstanding De
ccmber 81, 1895, is 50, 600, 900.
Under the provisions of the four per cent
Equipment Trust Gold Loan, there was
paid to the trustee during 1896, for the
sinking fund, the sum of 81 SO, 400. The
- uSt'S vas uhs'"' " oDttiln any OF Jic
bonds at the price fixed in the lease, and
IN accordance with the terms thereof the
whole amount has been invested In addi-
tOnal equipment.
FUNDED DEBT.
The amount OF funded debt. including
mOrtga ges on real estate and ground-rents
at the close of the year was SS7. $685.
3l0.72. being an increase of S4,902,6T4.T3
accounted for as follows
Consolidated mortgage 1-2
per cent. sterling bonds is
sued, 81 100000, equiva
lent TO-. "a, 500 900 90
Increase in mortgages and
ground-rents :. :. :. :. :. 52,674 10
Total. =. e. e. =. e. E. 81 902 .674 10