The sun. [volume] (New York [N.Y.]) 1833-1916, 1898-02-14
6inanetAL.

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or the mortrsre.
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For further particulars we refer to the following
letter:
''n1EssRs. ". ID. HOLLINs Il CO.,
NHyY YORK CITY,
n. y, FEynuAsy s. 1854.
Dear Sirs:-
In reply to your inquiry. 1 would s,ntc that tbs
Baltimore, Chesapeake and Atlantic Rwy. Co ia a
consolida alton made September lst. 1904 NJ tho Hal.
timore and Eastern Shore II. r.. Co. foryanized I'm
1866. the MARYLAND Steamboat ca Corgan,y,d II,
1900, the Eastern shor. ST. IN Co. corp an,yed
In 1900, and the Choptank Steamboat Co. orvau.
lied In 1850.
The Railroad extends from Claiborne. Md. on the
chesapeake Bay, to ocean CITY, Nd, passiny through
the fertile counties Of Talbot, Caroline, Dorchester.
wicomico, and Worcester. Tho Railroad c,,s,s,s NJ
So miles main track, not iu:luI!ng siLIng. and
switches, laid with new stool rn,ls ,tnc, ,spI and
welt equipped with rolling stock. terminals s;atiops
etc. all OF which are cover, d by the mortgage.
The company owns fifteen steamboats,. md ala, .
complete system OF wharvCs. including tile very VAL
liable South Street dWbarf. Ualrimore. md sx,.,.
sive properties at Cambridge, Salisbury. pocomot,
City, Snow Hill, onancork, etc, al. c: wa,,u ar. cav.
cred by the mortgage.
The freixhts 10 baltimore consist of grain OF.
toes. berries. fruits OF various kinds. nsb. ovs,.rs
stock, and farm products OF all sorts. and from I,a,,i.
more OF general merchandise, Including fer,,li,.r,
a~grleultu raj tnplementa, and all the miscell,ueoua
necessities Of a farming community. --.-
Ocean City. the eastern terminus OF the railroad. 1.
the natural watering place for the residents Of wash.
inrton and Baltimore. and the travel 70 tina, n,,n, q.
a constantly increasing factor in the business O: the
company. ...,a'. H go. ,."
Messrs. harrow, Wade, Guthrie & Co. examined the
books Of the consolidated comnanies for several
years prior to the consolidation, and reported TINT tho
net earnings averaged per annum sl2s,y75.2t. Tn.
net earnings for the year ending August 3Ist. 1syo.
were $3.50. 4Ol. 90. $50" oil.
During the years 1895 and 1897 the company's re.
ceipts were considerably reduced. owing to tho nm.
usual failure OF some OF thu principal crops of tho
country 1t serves; and also because during a large
part o" these seasons prices OF produce were SO low,
owing to the general depression, as to leave no mar.
gin to tho shipper above the cost Of pack ages.
freights, and commissions, the conscou.nce being
that the crops were, in many instano.s. left upou the
ground. '. ~
However. the net earnings for the fiscal
year ending August 8lst. 1896. were. 80. SsS, 500 10
and for the rear ending August IL st. 1897.
ss 500 os
or more than 20 per cent. and 80 per cent. respeo-
lively over Its nxed charges Of $4,000. per annum.
The net earnings for the nrst four months Of the
: seH ,ea Inusu'' o4' !" Decemoer SiS'.