The sun. [volume] (New York [N.Y.]) 1833-1916, 1899-03-13
TORONTO, HAMILTON & BUFFALO RAILWAY COMPANY

]. N GIBBS, ESQ., GRAND CENTRAL STATION. N Y
w. LII UL Esq, February 1s1 $780,
a ENDICOT PEABODY, Esq
GENTLEMEN. The Toronto, Hamilton md Buffalo Railway Company has been
Hudson River Railroad Accompany, the Michigan Central Railway mpan the Canada
Southern Railway ompnn md the Canadian Pacific Railway Conpany
The railroad which in pursuance of the agreement made was ontrcteip passes through section
ofomntyp oHe~edof unnsmln natural resources and trnhntesma cy of over hyt thousand nhnbt
tB. well mrpledW within anuhmturngf facilities An extension of this line HtwndBh from Hamilton.
through Brnhnd to Waterford sauono on tn cnada Southern Ralwarah SO serves twolA e nanunc
Mgtownsand rich agricultural gon
The contract the tern of which is fifty years provides anongo her things as onowS
That seventy per cent Of the stool be taken ovr by the allied ompanies and
that during the em Of the contract votng power or. this stock, giving control be
veted in Tho New York Central and HudsonR Rive Railroad company five of the
seven directors of the company to be- nmed by tho allied ines.
AMhamc which the proprietor lines can control, dshnedt to points the new line andi connc
tons to be sent via IN thine ...."".
twenty-five per- cent. of the earnings of the proprietor companies and their leased
and operated lines, IN all traTc interchange with tho new Ine, to be set aside in
each Hx months period during the term or the ponds a guaranty und from each
to pay any deficit in interest on the bonds in thRtp period.
ThrughS rre without chage of cars during ep period the ortactto be maintained between
hesauonsm and terminus oft eprpretr lines at uhAO.s mpensOnB Bridges md Toronto.
The Canadian Pacific Railway Company to py to the I :, H. & Ii annually four
prc entr upon onehaHo of the cost of the Hamilton Terminals of the latter, such cost
having been agreed upnb between the conpnnie interested s157 49,
The Canadian Pacific Hallway Company to pay annually to tho 7" H 4 B. it's proportion of the
expenses of operation and maintenance the Hamilton terminals or after eanount laaheo
be dtrmneuo on eb aso of heehge ''
The road to be bull and equipped under the specifications of the Michigan Central
Railroad, and under the supervision of engineers appointed by the proprietor
cUmpanie
ermd was built as required in til, contract in hem lost thopughN Mtnua,a and ernannt
manner The line between wdhnd and tec Canadian Pacific connection was laid wmhe eighty pound
rails and the balance with seventy ond rails
III toal hse of bonds secured by first mortgage upon the franchhea and property
nov owned md hereafter to be acquired " the company is S32s0C 100.
Oh August l. 1893 new construction and expenditure for betgmnsw we're nearly completed and
dne tmht tint the net earnings of the Company have been more hnw fdenh py teinh et on tho
bonds The results Iopeain under hea agreement nnef Ave months period ndIg eemte 3D. 1893
a~@ follows:
TotaIn net emnings of the company ..m s55bs731
Amount of guaranty" fund. 15,7s4Os
Amounts vauab for inteest $751; i9
Total amount of ntereS 5480885
Excess for five months over total interest charged s7esO414
..E- Respectfully Wtmnhd
~" eEnd, j. BECKLEY,. President