The daily morning journal and courier., 1897-09-16


 THE SHORE LINE.
 The Shore Line railway, extending from New Haven to New London (fifty miles) has been merged into the New York, New Haven and Hartford rall- road, and certificate to that erect was filed on the 18th of March. lS9'' Its mortgage debt of $20o,0OO then be- came an obligation of this company and the cost of the improvements De- came part of our own construction ac- count. This is the fourth merger or independent corporations with the New York, New Haven and Hartford Railroad company, under an act amending the charter of the com pany, approved June 14, 1889 Special Laws of Conn.,, Vol. K, D. 12sS); the Stamford and New Canaan, the Hart ford and Connecticut Valley, and the New York, Providence and Boston railroads, preceding the Shore Line railway, The balance sheet shows the debt of these merged companies as now the debt of this company, and also the construction accounts of these four properties as independent items. If given in more detail, the ex- upDil lIt NeW ol n, ANSN Haven and Hartford railroad proper and separately the expenditures for permanent Improvements upon leased lines
 The construction expenditures upon the Harlem River and Port Chester railroad are also separated from the construction occount of the New York New Haven and Hartford Railroad company. The Harlem River and Port Chester Railroad company is authorized by law to issue its bonds to reimburse this company for these ex- penditures should occasion require.
 ALL NOTES PAID. ..-
 The floating debt of the company reached at one time during the year little over nine million of dollars; and it was decided to fund it. On March 8, 1897, your directors resolved that a series of debentures of this company to an amount not exceeding ten mill lions of dollars be authorized, said de- bentures to be dated March 1, 1897, to mature fifty years from said date, and to bear interest at the rate of per cent. per annum, payable semi-annu ally on the first days of September and March in each year. Of these deben- lures, $2,0O0,000 were sold and dellv- cred prior to the 30th of June. The directors also authorized the guaran- ty and sale of $5,000,00O New England railroad per cent. gold bonds, held in 'the companys treasury, and of these S2,000,000 were delivered prior to the 30th of June. These sales reduced the notes payable on that date to $5,320 GOO, as appears in the balance sheet. Since that time, however. further deliveries of $1,000,000 of debentures and of the road bonds have been made, and every note of the company has been paid. STEAMSHIP COMPANY ACQUIRED.
 Since the annual statement of out standing shares the Providence and Stonington Steamship company has been acquired. It has no debt, funded or floating, and it's entire capital stock. amounting to $2,0oo,OO0, is now the property of this company.
 The work of improving the New York division has been continued, and four tracks are now in use for it's entire length, excepting through Bridgeport. The work there is delayed by legal ob- stacles raised by the landowners, al- though the constitutionality of the act passed by the general assembly, ap proved June 22, 1895, and the agree ment made hereunder, have been af- f1rrned by the supreme court of er- TOTS.
 The new Union station at Provi- dence is substantially ready for occu- pancy.
 The work of raising the tracks of the Providence division within the limits of the city of Boston has been com pleted.
 The Boston Terminal company has secured all needed funds at three and one-half per cent interest, payable In currency and the plans for the South ern Union station having been approv- ed by the mayor of the city of Bos- ton and by the railroad commissioners, the work is proceeding in a satisfacto- ry manner ...
 During the fiscal year new electric power house has been constructed at Berlin, Conn. It is so situated that the current may be applied in four differ ent directions on this road and also Supply Lut NeW hnglanQ rdllTOdQ, Via New Britain, to Hartford and to Bris- tol Its line between New Britain and Hartford has been running since May 24
 RAILROAD Y. M. c. A.
 The benefits derived from railroad branches of the Young Mems Christian associations, notably that provided by MT. Cornelius Vanderbilt at Grand Gen. tral depot, led your directors to con- slider favorably the application of em- ployes for similar provision for their comfort at New Haven. As there are nearly 4,000 men in that city daily en- played in the office building, shops. round houses and upon trains. the di- rectors, on the 17th day of February. authorized the adaptation of the pas- senger depot formerly used by the New Haven and Derby Railroad company to this purpose. Twenty bedrooms six bathrooms, a bowling alley, reading and social rooms, were provided at a total cost of $17,S00. The use of the rooms and the attendance upon lec- lures and education classes have justi- fled the expectations of your directors.
 By order of the Board of Directors.
 CHARLES P. CLARK, President.