New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-02-16

TON or PRINCIPAL
These bonds part of nm issue OF
sI.25ooOO. secured by n FIRST and only mort
gage on NIL the property Of the company
now owned which may hereafter ne nc
puired. The property now consists OF ~
miles OF moin-Iine railroad. not including
side trucks and switches, fifteen 40 steam
boats mud very valuable wharf properties
Including the south street Wharf, baltimore
altogether valued Mt considerably over
twice the amount of the mortgage.
The net earnings for the first
four months of the present fiscal
year august 31st to December
3Ist. 1870 were Observation-Disclosures. So3'23o oJ
Amount necessary to pny intcres:
on total bond Issue for the en-
tire year. ........... o<'OVo w
the company earned net I'm these four
months more than enough to pay the entire
years interest on NIL its bonds notwith-
standing the largest earnings nre made In
the summer months, August being very m"ch
the best month OF the year
The company has no floating DEBT
Tho company expended for construction.
bettcrments. maintenance, etc,i
For the year ending August 3lst
1895 .NioV''o- ""
For the year ending August 3lst,
For the year ending August 31't'
1897 ...................-..-. .....''.' o'''o" va
"NrESsRS H. II. HOLLINs & co.
NEW YORK CITY.
y. T. February =, 1898
Dear s,rs:--
IN reply 70 your inquiry. would state that me ba'-
r,o-. ch.-,peak. md Atlantic Rwy. CO. IN consolidation
made September Isl. 1924 Baltimore and Eastern
Shore r r. organized in 1880 the Maryland steam
boat Co. organized IN 1902 the Eastern Shore Steamboat
Organized in 1862. and tie Cho2tanK S'-s"'' 10
Organized in 1880
Tn. Railroad extends from Clsboln.. Nd. on the Ch.s-
sp.aks Bay 10 Ocean City. No. passing through me
fertile counties OF Talbot Caroline Dorchester "cofnoo'
and worcester The Railroad consists Of 81 miles main
track not including sitnIs and switches laid with ne"
steel nail, since 1891 well equipped with rolling STOCK
terminals -siions etc. sn Of which are covered by ths
mortgage.
Tho company fifteen stearnto.s. and also CON-
pi.,. system OF vharves including the very vAuaois
south str.t Wharf, Baltimore sad extensive properties
a, CamSrig. Salisbury Pocouoke city. Snow H oman
cock etc oil Of which covered by tho mortgage
Tho freshts to Baltimore consist Of grain potatoes
berries nut, OF various kinds. Ssh. oys'-r, stock ana
firm products O, p, sorts and from baltimore % general
merchandise including fertilizers agricultural implements
ard all IN. MISCELLANEOUS necessities % farming COM
munity.
Ocean city tho terminus Of ,hs railroad. is the
natural waeringpacs for tho residents Of washington
and Bator. and n. travel 70 that point (. constantly
increasing factor in the tusiners = the company.
N,s,rs Barrow wad. Guthrie & 90. examined the
book, OF the consolidated companies for several years
inr, averaged per S23 075 a. TIE net earnings
for tho ending Angus, sst. 1895 were siso4ee'
During the years 1898 and 1891 the comp1nys receipts
were considerably reduced owing the unusual failure Of
sorns Of tho principal OF the country It serves and
also because during large part O, these seasons prices OK
produc. low owing 10 the general depression as
70 margin the shipper above ;hs eos OF pae~
ages freights commissions, tho consequences eeiAs
that tho crops we're many instances. let upon tho
ground.
However the earnings Tor ths fiscal year
and for the year August sis 1921 $50 800 70
o. more than 4os and 3tes respectively over It's fred
charger OF tG25oo. per annun-
Tn. net earnings the nrst four months Of the present
o.oai wear august Sis, December Dist. 1s9D
Ses. $50 CO.
The company has floating DEBT.
The mortgage provides that at less. $4,000 sha ~ SCI
asc. or expended yearly. the properties in cid-
.iona equipment; bet-rments maintenance. etc The fol-
lowing amounts have been 50 expended:
IN the year ending August Sis 1895. .s3oss2 90
In N. year ending August ss; 1890. e2ioo so
In the wear ending August 3ist sSsS3 ~
The mortssg. which all the property OF the
pary real and personal. owned which may here
after b acquired b. aud tho bonds Issued
under tho supervision OF Chas c. Beamsn. Eco. Of
Me.srs. Evarta Choats & Beaman OF New York CITY,
and y p. Bond. ESQ OF Msssrs Morrison. Munnikhuy-
sen a Bond Of baltimore. Md.
TIE ofcsrs and d. e.tors q the company are;
HIRECTORS.