The times. [volume] (Richmond, Va.) 1890-1903, 1897-08-28

the charges for the last year.
FINANCIAL CONDITION.
At the close OF the year the financial
condition OF the Company was satlsfao-
tory, as it has on hand and was entitled
10 receive from the trustee of its IL
per cent mortgage bonds tO au amount
which, at current market prices. wiz
enable 10 tO lluuidatc al current lahll
ties. These bonds can bee sold AZ amy
time. bat their sale at present is not nee
cessary. nor does Do seem desirable to
your Directors. Meanwhile your tompd-
ny is uOrrOWius hauu.Hn ttt per cent mo-
tercst. payable June BOD. l>oJ, which meets
all present requirements.
Under the plan heretofore established
N,O9l1J, at The annual proportion of bond
discount. has been written on to proht
and loss.
II viii be observed that tho Company
has paid and charged out during The year
nearly $1,000 more FOR taxes tnau 300 tho
previous year. a large portion OF thia,
tO-Wlt. &s,uOO, arises from thc settlement
OF ana ola claim Tor back taxes, and there
fore the charge is higher tnan 10 VIII
probably be FOR the coming year.
Iue artanscmrut DrlWttu tue trunk
line railways. known as the joint lmfnc
Association. tO which dllusiOu was made
in the last report. and which Cor some-
thing over a. year from COS formation
proved of measurable value tO tnt rtl-
ways. has been greatly weakened hy dee
cisIOus OF the Supreme Court supposed fD
affect the same A nnal decision of thtt
court is hoped for u October. lu amy
event, 10 VIII involve the reforming az
this association, or something like ii,
upon new lines. ln the meantime mo
maintenance of tariff depends upon the
Integrity OF the railway managers ana ihe
care with which they watch ihc ieft-
nucs Of their companies
Your directors thought ~ would Doe Ethit-
flying to have the accounts of the company
examined ana verified by experts spec
cially familiar with such work, ANA thcy
employed for this purpose Mcsst- ftl-
terson and CorWin, certified public ac-
countants. OF New York city.
By order of the Board OF Directors
NJ. r. INGALLS, President
Cincinnati o.. August. 1891
In the annual report OF the directors
the condensed balance sheet shows:
ASSETS.
Cost of road and
equipment .. ..tl-j. ili,tf 90
Cost OF Green
brior and New
River r. r.. ..-. 40O00W
Sundry coustruc-
ton accounts lVbla-yJ
Discount on l-t
per cent. bonds.
sold, pro rata
proportion Of
N C s.
chargeable an-
nually 20 profit
and loss until
bonds On .'.'....... G56sss5i N2i9ii7s8Os
'' pIies '' 81. ...... n5.@ics
Cost Of O.. q -.
S. S. Co secur-
ties .. .. ......... 3Vbi 13Z-oI
Cost or sundry Sc
curitles I'm treas
ury o.. 90 ...+.... e4ZQtioA
C. & o. Railway
4i-2 per cent.
bonds in treas
urv 90 ....s..-t- lVttNli" @fp--i'tp-A
Richmond Inn
prOvements 600. lilbfltj
proper property - ''. ."'.. 9iusu 3ssso2s
N Frcestone r. r. ni2S7s
Total invested .....-..-
| assets Of. ...... l-'-'i,''f''
u asa lets '..'... LH2gllf
Si29 620 02s ~
LIABILITIES.
| Capital sto r & $1,000
| first preferred .. p 5000
| Capftaf sto o. K
second preferred - 1900
common 'n'n',, p d.. ....... eoag1MOoO 05ia aoro
| Funded debt. t.laA5i't
Total funded debt
and capital 49,. Iz7nUo2
n al Wo'@ MIDI. so9nsss
Balance prOnt
and loss D.. COCO. ~ ff -
u29 sao.oaso9