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That
HIII
SALES
=
000
1111
#
equipment
4
UNIVERSITATIS
⑈⑈
SIGILLVM
LIFORNIENSIS
MDCCCLXVILL
EX LIBRIS
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i
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E.
TO THE
American Geographical & Statistical Society,
THIS W
OF THE
A CONTRIBUTION TO THE
TES OF AMERICA,
EXHIBITING THEIR
RESPECT
spenditures & Present Condition.
By HENRY V. POOR, Esq.,
H
Editor of the "American Railroad Journal."
"UNIV. +
IN THREE VOLUMES PERNIA
Acto Nork:
JOHN H. SCHULTZ & CO., No. 9 SPRUCE STREET.
1860.
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Entered according to Act of Congress,
Br HENRY V. Poon,
in the Clerk's office of the District Court of the Southern
3
МИШ
AIMBORILIAD
EDWARD J. LAPPIN,
Stereotyper,
No. 11 Spence street, New York.
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TO THE
American Geographical & Statistical Society,
THIS WORK,
A CONTRIBUTION TO THE OBJECTS OF THE SOCIETY,
IS
RESPECTFULLY INSCRIBED
BY
A MEMBER.
250889
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This work is designed as a comprehensive statement of the progress, cost,
revenues, expenditures and financial condition of the Railroads and Canals
of the United States. The need of such a work has long been felt. There
is not in this country as in most others, a central point at which the more
important companies are either domiciled, or at which all are required to
present annual statements of their affairs, for the reason that they derive
their existence and powers from the legislatures of the several States. In a
few States only is such a duty imposed. Where it is, it is often neglected,
no penalty being suffered thereby. It is not uncommon for leading compa-
nies to publish no reports whatever. Some make them unwillingly, with no
design to convey information upon the subjects to which they relate. Re-
ports that are full and explicit are accessible only to a small number of parties
interested. Fewer still have the means of compuring results for consecu-
tive years, without which it is impossible to form a correct opinion as to the
manner in which a work has been conducted, or of its present or prospective
value. A single statement, as experience has shown, is a very unsafe ground
upon which to base an opinion. A high degree of apparent prosperity
that one report may show, has not unfrequently been followed by bankruptcy
before the annual occasion for another. What is wanted, consequently, is a
work which shall embody within convenient compass a statement of the
organization and condition of all our companies, and at the same time
present a history of their operations from year to year, which would neces-
sarily reflect the character of their management, the extent and value of
their traffic, and supply abundant illustrations, with which to compare similar
enterprises that might be made the subject of investigation and inquiry.
Such a history is now given, in which is shown every important step taken
by each company its present organization and condition; the yearly cost,
earnings and expenditures of its works, and the dividends and interest
paid-the whole stated in such a manner that both the details and aggregate
results can be seen at a glance. The necessary information has been sought
from every available source, and it is believed that no errors will be found of
sufficient importance to affect the value of the work.
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In the statement for each company no explanations of its acts or policy, or
speculation as to the cause of its success or want of success have been offered.
All such would be worse than useless, as they would encourage a tendency,
so strong in all, to substitute results that are desired for such as actually take
place. In the memoirs preceeding each State, more latitude is used, but these
are little else than recapitulations of the detailed statements.
Numerous works, which have been discontinued or united with others,
have been described, for the purpose of preserving, in a convenient form,
a large amount of information collected upon the subject of our public
improvements, which otherwise might be lost, and to trace, while it could be
done, the very begin ings of an interest, which, in the short period of thirty
years, has grown into gigantic proportions.
For convenience of reference, a list of all the Railroad Companies chartered
in the several States is given, with a brief abstract of all laws passed in
relation thereto. The General Railroad Law of the State of New York is
also given, as this is now the organic law for all the companies of that State,
and is the model upon which in other States all similar laws have been framed.
The First Volume of the work is illustrated by two large and accurate
Maps-one of the New England States, and the other of the Middle Atlantic
States-exhibiting their physical features, political divisions, and the lines
of the railroads and canals within their limits. The Second Volume is in
course of preparation, and will soon follow. It will be illustrated by maps
of other portions of the country, and by a new general map of the United
States. All the maps are drawn and engraved under the supervision of
G. Woolworth Colton, Esq., whose diligence, accuracy and extensive infor-
mation are sufficient guarantee for their correctness.
The work has been one involving a great amount of labor and research,
and the author takes occasion to acknowledge the great obligations he is
under to Dr. R. S. Fisher, one of the most accomplished statists of the
country, for the very valuable aid rendered by him.
The work will be continued by an annual supplemental statement, to be
published soon after the close of each year, presenting a summary of the
operations of all the works of the country for the previous one.
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CONTENTS.
STATE OF MAINE.
Preliminary Memoir
Page 9
Railroads of the State in detail
" 13
Laws of the State in reference to Railroads
" 34
STATE OF NEW HAMPSHIRE.
Preliminary Memoir
Page 37
Railroads of the State in detail
" 41
Laws of the State in reference to Railroads
" 66
STATE OF VERMONT.
Preliminary Memoir
Page 69
Railroads of the State in detail
" 72
Laws of the State in reference to Railroads
" 83
STATE OF MASSACHUSETTS.
Preliminary Memoir
Page 85
Railroads of the State in detail
" 94
Laws of the State in reference to Railroads
" 174
STATE OF RHODE ISLAND.
Preliminary Memoir
Page 185
Railroads of the State in detail
" 187
Laws of the State in reference to Railroads
" 191
STATE OF CONNECTICUT.
Preliminary Memoir
Page 192
Railroads of the State in detail
" 195
Laws of the State in reference to Railroads
:
" 215
STATE OF NEW YORK.
Preliminary Memoir
Page 218
Railroads of the State in detail
" 229
Laws of the State in reference to Railroads
" 325
Canals of the State in detail
" 353
vii
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viii
CONTENTS.
STATE OF NEW JERSEY.
Preliminary Memoir
Page 377
Railroads of the State in detail
" 382
Laws of the State in reference to Railroads
" 406
Canals of the State in detail
" 411
,
STATE OF PENNSYLVANIA.
Preliminary Memoir
Page 414
Railroads of the State in detail
" 422
Laws of the State in reference to Railroads
" 519
Canals of the State in detail
" 536
STATE OF DELAWARE.
Preliminary Memoir
:
Page 562
Railroads of the State in detail
" 564
Laws of the State in reference to Railroads
" 568
Canals of the State in detail
" 569
STATE OF MARYLAND.
Preliminary Memoir
Page 572
Railroads of the State in detail
" 576
Laws of the State in reference to Railroads
" 599
Canals of the State in detail
" 602
GENERAL INDEX
Page 607
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RAILROADS
OF THE
UNITED STATES OF AMERICA.
STATE OF MAINE.
INDROSCOGGIN.
LEWEY'S ISLAND.
AIDROSCOGGIN AND KENNEBEC.
MACHIASPORT OR FRANKLIN.
ALANTIC AND Sr. LAWRENCE.
PENOBSCOT.
BNGOR, OLDTOWN AND MILFORD.
PENOBSCOT AND KENNEBEC.
CAAIS AND BARING.
PORTLAND AND OXFORD CENTRAL.
EUDPEAN AND NORTH AMERICAN.
PORTLAND, SACO AND PORTSMOUTH.
GRAT FALLS AND SOUTH BERWICK.
SOMERSET AND KENNEBEC.
KENEBEC AND PORTLAND.
YORK AND CUMBERLAND.
Th first railroad constructed in the State of Maine was the Bangor,
Oldto'n and Milford, under the title of the Bangor and Piscataquis Rail-
road ad Canal Company, chartered on the 8th February, 1833. It was
openedn the latter part of 1836. It has proved unproductive, in part from
the unfetunate location of its line.
The rad next constructed was the Portland, Saco and Portsmouth, as a
prolongaon of the Eastern and the Boston and Maine Railroads of Mas-
sachusetta The means for the construction of the same were furnished
chiefly by arties connected with these Companies, to which it was leased on
the 28th otA pril, 1847, for a term of 99 years, with a guarantee of dividends
at the rate 1 6 per cent. per annum. These, however, have been earned by
the road.
The third bad undertaken was the Atlantic and St. Lawrence, and was
the first attemot at any thing like a railroad system for the State, having
for its object to development of its resources and the centralization of its
trade and tha\of the interior at its chief commercial city. It was con-
structed with view of uniting with the St. Lawrence and Atlantic of
Canada commened at the same time-the two to form one line between the
Atlantic Ocean ad the River St. Lawrence. It now forms a part of the
Grand Trunk Ralyay of Canada, to which it is leased at the rate of 6 per
cent. per annum olits capital. Since the date of the lease the Grand Trunk
2
9
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10
STATE OF MAINE.
Company has expended in construction about $1,500,000. This enterprise
led to the immediate commencement of the Androscoggin and Kennebec, the
Kennebec and Portland, and the Buckfield Branch. The Androscoggin and
Kennebec Railroad was commenced in July, 1847, and completed in Novem-
ber, 1849. For several years past this road has been united with the Penobscot
and Kennebec Railroad, both of which are operated as one line. Its earnings
have been sufficient to meet the interest on its indebtedness, but not to divide
anything on its share capital.
The construction of the Kennebec and Portland Railroad was commenced
in 1847, and finally opened to Augusta early in 1852. It commenced at the
point of junction with the Atlantic and St. Lawrence Railroad, but as it
adopted a different gauge, the construction of a new road into Portland, a
distance of 11 miles, became necessary. This was constructed in 1850-1.
The road was necessarily expensive, and the Company for several years pas'
has only been able to meet the interest on its first mortgage amounting
to $800,000, and on the extension certificates $202,400, which are a fint
mortgage on that portion of road. In the season of navigation the rad
suffers from the competition of a parallel water line.
The Buckfield Branch (Portland and Oxford Central) Railroad was opened
in 1849, but having proved unproductive has been abandoned.
York and Cumberland was commenced in 1849, and opened to Goriam,
101 miles, in 1851, and to the Saco River, 20 miles, in 1853. It hasbeen
uniformly unfortunate and unproductive.
The Calais and Baring, a local road, was opened in 1837. Its eanings
have been sufficient to meet the interest on its indebtedness, and pay3.2 on
its share capital.
The Androscoggin was opened to Livermore Falls in 1852-to itspresent
terminus in 1859. This road has failed to pay the interest on its 1st class
of bonds.
The Penobscot and Kennebec Railroad was commenced in 852, and
completed in 1855. This road and the Androscoggin and Kenebec are
operated as one line. Its net earnings have been sufficient to meet the
interest on its two first mortgages, amounting to $1,050,200.
The Great Falls and South Berwick Railroad was opened n 1854, and
has proved unproductive. After being disused for some time it has again
been put in operation.
The total amount of share capital and debts of the railroa(companies of
the State is $17,923,612. Of the share capital, $4,297,300 recives, (with the
exception of the Calais and Baring), dividends at the rate of per cent. Of
the total indebtedness, interest is paid at the rate of IX per cent. on
$7,819,718; leaving share capital to the amount of $3,188.11, and debts to
the amount of $2,618,183, on which neither interest nor vidends are paid.
The total amount of productive capital invested in railrads in the State is
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STATE OF MAINE.
11
$12,117,018 unproductive, $5,806,594. It is not improbable that the
Androscoggin Railroad, and Somerset and Kennebec may earn hereafter a
sum sufficient for the payment of the interest on their debts.
Statement, shewing the Share Capital and Debt of the several Railroads of the State of
Maine, with the amoun! of productive, and unproductive capital in each
:
Corporate Titles
Share Capital
Funded
Floating
Total Debts
of Companies.
Total. Productive.
Unprod.
Debt.
Debt.
Productive.
Unprod
Androscoggin
$151,832
$151,832
$388,439
$213,279
$330,939
$270,779
Androscoggin & Kennebec 457,900
457,900
1,747,457
101,209
1,848,666
Atlantic & St. Lawrence. 2,494,900 2,494,900
3,472,000
8,000
3,480.000
Bangor, Oldtown & Milford
135,000
135,000
40,576
40,576
Calais & Baring
100,000
100,000
114,800
4,737
119,534
Great Falls & S. Berwick
93,561
93,561
60,000
12,599
72,599
Kennebec & Portland
1,287,779
202,400
1,085,379
1,280,000
271,143
800,000
751,143
Lewey's Island
171,310
171,310
210,000
150,000
60,000
Penobscot & Kennebec
555,229
555,229
1,206,800
150,936
1,050,000
307,736
Portland, Saco & Ports'h
1,500,000
1,500,000
Somerset & Kennebec
168,200
168,200
550,000
117,926
667,926
York & Cumberland
370,000
370,000
438,000
50,000
488,000
Total
7,485,711
4,297,300
3,188,411
9,467,496
970,405
7,819,718
2,618,183
From the statement on the next page it appears that the total earnings of
all the lines of the State from the date of the opening of the first road has
been $12,216,366. Of this sum $6,353.749 have been received from passen-
gers; $5,296,655 from the tranportation of merchandise, and $565,962 from
the transportation of mails and from other sources. The current ex-
penses in the meantime have been $6,926,978 net earnings, $5,289,388.
A portion of these have been used in construction and in the maintenance
of the roads-expenditures that do not appear in the annual statements
of the railroad companies. The gross earnings of all the roads have equalled
8.3 per cent. on the cost. annual expenses 4.7, and the net earnings 3.6 on
the cost. The total amount of dividends paid has amounted to $2,335,261.
For several years past they have equalled 2.7 per cent. on the Share Capital
of all the companies. The general result is an unfavorable one. There is
probably no State in which facilities for travel and transportation by water
are afforded in SO great a degree as they are to the people of Maine. Only
a very small proportion of its commerce or travel passes over its railroads.
This is seen in the earnings of the railroads, which equal only about two
dollars per head of the population, while the average for the whole country
is fully twice that sum.
The new works proposed are the Penobscot Railroad, and the York and
Cumberland Railroad, both partially constructed ; the European and North
American, and a railroad following up the Penobscot River from Oldtown,
and extending into the northeast portions of the State. By the European
and North American Railroad it is proposed to connect the railroads of Maine
with those of New Brunswick and Nova Scotia. The object of the rail-
road up the Penobscot River is to give railroad facilities to a remote portion
of the State, and thereby to aid in settling it and in the development of
its resources.
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12
RAILROADS IN THE STATE OF MAINE.
STATEMENT showing the Share Capital, Indebtedness, Cost, Mileage, Receipts for transportation of Passengers, Receipts for transportation
of Freight, Receipts for transportation of Mails, Operating Expenses, Net Earnings, and Dividends paid by the Railroad
Companies of the State of Maine, for each year since the opening of the first road:
Capital
—Indebtedness
Total
Mile-
Receipts
Operating
Earnings
Divi-
Year.
paid in.
Funded.
Floating.
Liabilities.
Cost.
age.
Pass'r.
Freight.
Mails, etc.
Total.
expenses.
less exp.
dend.
Year.
1837
$354,000
$354,000
$354,000
11
$11,040
$10,105
$21,145
$15,297
$5,848
nil.
1837
1838
354,000
354,000
354,000
11
11,596
9,955
21,551
14,577
6,974
1838
1839
354,000
354,000
354,000
11
9,461
10,201
19,662
14,501
5,161
1839
1840
354,000
354,000
354,000
11
10,220
6,104
16,324
13,888
2,436
1840
1841
354,000
354,000
354,000
11
7,955
3,888
11,843
9,620
2,223
1841
1842
378,000
378,000
378,536
11
6,877
11,988
18,865
13,243
5,622
1842
1843
1,500,000
1,500,000
1,426,730
62
35,894
9,204
2,620
47,918
34,900
13,018
36,680
1843
1844
1,600,000
1,600,000
1,537,519
62
92,616
23 164
9,062
124,842
60,176
64,666
69,600
1844
1845
1,650,000
1,650,000
1,615,286
62
116,113
26,938
7,129
150,180
64.131
86,049
69,440
1845
1846
2,000,000
500,000
100,000
2,600,000
1,629,286
62
109,034
32,311
8,903
150,248
70,109
80,139
70,000
1846
1847
2,500,000
1,000,000
150,000
3,650,000
1,639,353
62
134,707
29,835
8,677
173,219
72,753
100,466
70,000
1847
1848
3,000,000
2,000,000
200,000
5,200,000
1,406,824
62
143,740
40,400
10,588
194,728
78,840
115,888
71,561
1848
250,000
6,250,000
1,427,091
62
142,253
32,374
10,410
185,037
81,319
103,718
71,520
1849
STATE OF MAINE.
1849
3,500,000
2,500,000
1850
4.000,000
3,000,000
300,000
7,300,000
3,070,854
112
249,994
93,747
17,230
360,971
149,912
211,059
78,000
1850
1851
4,927,000
3,737,000
369,000
9,033,000
8,404,778
284
365,746
190.288
28,953
584,987
275,267
309,720
82,510
1851
1852
5,072,000
5,894,000
690,000
11,656,000
11,201,819
328
423,469
252,952
29,979
706,400
332,830
373,570
98,949
1852
1853
5,691,000
7,037,000
592,000
13,320,000
13.016,843
384
505,931
353,172
45,966
905,069
417,156
487,913
107,769
1853
1854
5,827,000
7,977,000
917,000
14,721,000
13,572,505
386
635,747
545,620
58,272
1,239,639
662,196
577,443
242,938
1854
1855
6,016,000
8,602,000
987,000
15,605,000
14,141,629
386
677,971
657,516
58,492
1,393,979
818,961
575,018
243,938
1855
1856
6,992,000
9,016,000
1,129,000
17,137,000
16,929,886
462
750,303
731,262
63,783
1,545,348
1,033,883
511,465
255,838
1856
Digitized by Google
1857
7,143,000
9,379,000
1,192,000
17,714,000
17,025,539
484
727,899
753,182
57,438
1,538,519
1,029,650
508,869
255,838
1857
1858
7,319,000
10,005,000
1,347.000
18,671,000
18,098,390
511
611,833
707,363
70,185
1,389,381
833,340
556,041
254,838
1858
1859
7,810,000
10,092,000
1,164,000
19,066,000
18,382,207
511
573,350
765,086
78,075
1,416,511
830,429
586,082
255,838
*1859
23
years.
78,695,000
80,739,000
9,387,000
168,821,000
146,675,075
4,348
6,353,749
5,296,655
565,962
12,216,366
6,926,978
5,289,388
2,335,261
23 ys.
Average. 3,421,521
3,510,391
408,130
7,340,042
6,377,177
189
276,252
230,288
24,606
531,146
301,164
229,982
101,533
Aver.
"Including the capital and liabilities of the Machiasport and Penobscot Railroads, etc., not embraced in the Table on p. 11.
RAILROADS OF THE STATE IN DETAIL.
ANDROSCOGGIN RAILROAD.
(Financial year ending 30th November, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
Ozias Millett
Leeds, Me.
"
John Dyar
Freeman, "
I
Giddings Lane
Leeds, Me.
Ensign Otis
"
John Smith
Livermore, "
Stephen H. Reed
Lewiston, "
JOHN B. JONES, President
Lewiston, Me.
J. A. LINSCOTT, Treasurer
Farmington, "
L. W. EATON, Superintendent
Farmington, "
PRINCIPAL OFFICE
FARMINGTON Franklin Co., Me.
LENGTH OF Road-Leeds Junction to Farmington
36.50 miles
ROLLING STOCK-Locomotive Engines
4
Cars :-Passenger, 4, and merchandise, etc., 21
25
The Androscoggin Railroad Company was chartered by the Legislature of
Maine on 10th Aug., 1848, and was authorized to construct a railroad from
Leeds Junction to the village of Farmington. The survey was made in
1849-50, and the work of construction commenced in the summer of the lat-
ter year. That portion of road from Leeds Junction to Livermore Falls, a
distance of 20 miles, was opened for public use in the fall of 1852, and the
remainder in sections as follows:-to North Jay, 26 miles, in 1856; to East
Wilton, 32 miles, in 1857, and to Farmington, 36 miles, in June, 1859. At
Leeds Junction this road connects with the Androscoggin and Kennebec Rail-
road, and through it with Portland (44) miles from Leeds) and the roads to-
wards Boston.
The Company propose to extend its line from Leeds Junction to the Grand
Trunk Railway at Danville.
SHARE CAPITAL-Authorized, $250,000, in 5000 $50 shares.
Paid in, $151,832.
In 1854-5 the Company created a Preferred Stock, entitled to 10 per
cent. dividends until the net earnings were equal to 6 per cent. on the cost of
the road, when the Preferred was to rank with ordinary Stock. The Com-
pany claim that this condition has been fulfilled, and no dividends on Pre-
ferred Stock have been paid since 1856.
FUNDED DEBT-$700,000: in detail as follows—
1st Mortgage, 6 per cent. coupon bonds
$100,000
-dated 26th Sept., 1853, and payable, principal in 10 years, and interest semi-
annually, 1st April and 1st Oct. The interest on this class of bonds is pay-
able at the Bank of Commerce, New York.
2d Mortgage, 6 per cent. coupon bonds
$100,000
-dated 1st Sept., 1854, and payable, principal in 10 years, and interest semi-
annually, 1st April and 1st Oct. The interest on this class is payable at the
Company's office, or at Portland, Me.
3d Mortgage, 6 per cent. bonds
$300,000
13
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14
MAINE-ANDROSCOGGIN.
-dated 11th Dec., 1856, and payable, principal 1st June, 1877, and interest
semi-annually, 1st June and 1st Dec. The mortgage in this case made pro-
vision for an issue of $500,000, of which $200,000 are retained to discharge
the 1st and 2d Mortgage Bonds at maturity. The interest on this class is
payable at the Company's office, or at Portland, Me. Of this class $169,061
remain unsold.
Income, 6 per cent. bonds
$200,000
-dated 1st Jan., 1858, and are payable, the capital in stock 1st Jan., 1870,
and the interest in cash semi-annually, 1st Jan. and 1st July. The interest
on this class is payable at the Company's office, or at Portland, Me. Of this
class $142,500 remain unsold.
FLOATING DEBT-$213,279, bills payable, etc.
Cost OF ROAD AND EQUIPMENT-$757,381; in principal detail as follows
Graduation
$182,762
Superstructure, including iron
$164,763
Masonry
10,000
Stations, buildings, and fixtures
Land and land-damages
10,800
Rolling stock
26,124
Bridging
4,900
Engineering, etc
7,096
Construction in 1859
67,470
INCOME ACCOUNT FOR THE YEAR ENDING 30TH Nov., 1859.
Receipts-
Disbursements-
Joint freight
$12,806
Pay rolls
$12,643
Joint passengers
21,007
Wood
1,140
Local freight
1,539
Oil and waste
626
Local passengers
2,217
Repairs on engines and cars
125
Express and extra baggage
750
Track repairs
201
Mails
1,836
Mail expenses
200
Incidental expenses.
542
Balance, being net earnings
24,678
Total
$40,155
Total
$40,155
GENERAL LEDGER BALANCE SHEET, 30TH Nov., 1859.
Cr.
Dr.
Capital Stock
$151,833
Graduation
$182,762
Bond Accounts
444,638
Masonry
10,000
Balance Floating Debt
160,910
Land and land-damages
10,800
Bridging
4,900
Superstructure, including iron
164,763
Cars and engines
26,124
Engineering
7,096
Paid construction in 1859
66,470
Other items, interest, discount, etc
284,466
Total
$757,381
Total
$757,391
CosT, EARNINGS, EXPENSES, ETc., YEARLY.
Cost of Road, Miles
Gross Earning
Operating
Net
-Dividends-
Year.
&c.
of Road.
Pass'r.
Freight. Mails,&c.
Total.
expenses.
earnings.
$
p.c.
1853
$315,365
20.00
$9,168
$9,555
$428
$19,151
$10,000
$9,151
nil.
nil.
1854
343,317
20.00
13,916
14,145
1,721
29,782
16,975
12,807
"
"
1855
363,551
20.00
13,427
14,592
1,564
29,583
16,892
12,691
"
"
1856
454,277
20 00
11,080
12,845
1,284
25,209
16,326
8,883
"
"
1857
555,897
26.00
10,976
13,051
1,338
25,365
13,489
11,876
"
"
1858
645,271
32.00
10,877
18,609
1,471
30,957
13,693
17,264
"
"
1859
757,388
36.50
23,224
14,345
2,586
40,155
15,479
24,676
"
"
$3,435,066
174.50
92,668
97.142
10,392
200,202
102,854
97,348
"
"
Aver.
490,724
24.9
13,238
13,877
1,484
28,600
14,693
13,907
"
"
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MAINE-ANDROSCOGGIN AND KENNEBEC.
15
ANDROSCOGGIN AND KENNEBEC RAILROAD.
(Financial year ending 31st May, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
Jedediah Morrill
Waterville, Me.
Ashur Hinds
Benton, Me.
Wm. Goodenow
Portland, "
Samuel P. Benson
Winthrop, "
Rufus Horton
"
"
Ira Crocker
Portland, "
JOHN WARE, President
Waterville, Me.
Joshua NYE, Treasurer
"
"
EDWIN NOYES, Superintendent
"
"
PRINCIPAL OFFICE
WATERVILLE, Kennebec Co., Me.
LENGTH OF Road-Danville Junc. (Atl. & St. Law.) to Waterville
55 miles.
No second track. Sidings and turnouts about 6 miles.
ROLLING STocK-Locomotive Engines
9
Cars -Passenger, 10; merchandise, etc., 128
138
The Androscoggin and Kennebec Railroad Company was chartered on the 28th
of May, 1845, (Spec. Laws, chap. 270). The construction of the road
was commenced in July, 1847. The first division, from Danville Junction
to Winthrop, 20 miles, was opened on the 3d of July, 1849 the second, from
Winthrop to Waterville, 35 miles, on the 27th of Nov., 1849.
SHARE CAPITAL-Authorized, $1,400,000, in 28,000 $50 shares.
Awarded and paid in, 457,900, in 9,158 $50 shares.
FUNDED DEBT-$1,747,457 classified as follows—
1st Mortgage, 6 per cent., coupon bonds
$1,000,000
-issued in 1850, $80,500; in 1851, $255,700; in 1852, $436,400; in 1853,
$148,900; and in 1854, $78,500-payable in 10 years. Interest semi-annually,
(1st June and 1st Dec.,) at Waterville or Portland.
Stock, 6 per cent., coupon bonds
$710,000
-issued in Jan., 1853, $433,800 at different periods the same year,
$66,200 ; March, 1856, $100,000, and 1st December, 1856, $110,000-pay-
able in 10 years. Interest semi-annually, (1st June and 1st Dec.), at Water-
ville or Portland. Principal payable in stock.
Old 1st Mortgage Bonds, 6 per cent., (payable on call)
$29,557
Interest ($8,400), and Furniture ($500) Bonds, due
8,900
FLOATING DEBT-$101,209, viz. bills payable, $92,649; coupons, $6,740,
and sundry accounts, $1,820.
COST OF ROAD AND EQUIPMENT-$2,210,947 ; in detail as follows-
Graduation and masonry
$700,561
Locomotive engines
Bridging
89,368
Passenger and other cars
-
$82,964
Superstructure, including iron
495,749
Engineering
36,245
Land, land-damages and fences
55,534
All other expenses
759,526
INCOME ACCOUNT FOR THE YEAR ENDING 31st May, 1859.
Balance from Income Account
$31,202
Balance charged to Income
$48,979
Interest on bonds, etc
107,535
Net Income, 1859
89,765
Total
$138,737
Total
$138,737
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16
MAINE-ANDROSCOGGIN AND KENNEBEC.
GENERAL LEDGER BALANCE SHEET, 1ST JUNE, 1859.
Cr.
Dr.
Capital stock
$457,900
Construction Account
$2,210947
Million-Loan Bonds
1,000,000
And. RR. Co. Bonds
6,000
Interest Bonds
8,400
Pen. &. Ken. RR. Co. Stk
21,924
Bonds (old)
29,557
Million-Loan Bonds
15,000
Furniture Bonds
500
Cash on hand
4,725
Stock Bonds
710,000
Balance of Income Account
48,972
Stock Coupons
6.740
Sundry Accounts
1,820
Bills Payable
92,649
Total
$2,307,566
Total
$2,307,566
COST, EARNINGS, EXPENSES, ETC., YEARLY.
Cost of
Miles
Gross Earnings
Operating
Net
Year.
Road, &c.
of road. Pass'r.
Freight. Mails, &c.
Total.
expenses.
earnings.
1851
$1,816,670
55
$60,023
$37,732
$4,892
$102,647
$63,549
$39,098
1852
2,009,188
55
67,088
52,208
6,362
125,658
58,079
67,579
1853
2,020,247
55
71,647
63211
5,703
140,561
60,507
79,954
1854
2,176,506
55
85,596
68,283
7,442
161,321
67,950
93,371
1855
2,245,020
55
97,941
85,188
7,475
190,604
99,807
90,797
1856
2,210,947
55
107,417
94,931
7,125
209,473
99,676
109,797
1857
2,210,947
55
89,758
62,606
7,057
159,511
84,894
74,517
1858
2,210,947
55
82,462
67,584
9,468
159,514
76,146
83,368
1859
2,210,947
55
75,687
76,386
9,032
161,105
71,338
89,767
$19,119,415
495
$737,619
$608,129
$64,556
$1,410,294
$681,946
$728,348
Average
$2,124.491
55
81,957
67,569
7,173
156'699
75,772
80,929
On the 30th of November, 1856, the Androscoggin and Kennebec Com-
pany took a lease of the Penobscot and Kennebec Railroad for a period of
20 years, by which the former agreed to run the latter road, to maintain the
same in good condition during the continuance of the lease, and pay to the
Penobscot and Kennebec Railroad Company three-sevenths of the net profits
of the joint business.
The two roads conjointly have a length of 110 miles, and an equipment
of 13 locomotives, 20 passenger cars, and 221 merchandise and other cars.
The total cost of both roads is stated at $4,004,394.
The operations of the united line for the past year are exhibited in the
following statement:
INCOME ACCOUNT FOR THE YEAR ENDING MAY 31, 1859.
Receipts
Disbursements-
From 101,177 passengers
$132,457 81
For repairs of track
$41,669 13
"
70,455$ tons Merchandise
133,665 34
" repairs of engines and cars
22,894 09
"
Express, mails, &c.
15,806 71
" salaries and gen'l management.
38,520 07
" oil and waste
3,684 84
" fuel
18,071 68
And. and Ken. Co., 4-7 $89,765 74
Pen. & Ken. Co., 3-7
67,324 31-157,090 05
Total
$281,929 86
Total
:
$261,929 86
Since the execution of the lease, the net income of the joint business has
been $380,087, divided as follows :
Total Net.
Proportion due
Prop'n due
Income.
A. & K. Co.
P. & K. Co.
1857 (Six months)
$77,103
$43,933
$33,170
A858
145,894
82,368
63,526
1859
157,090
89,766
67,324
Total
$380,087
$216,067
$164,020
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MAINE-ATLANTIC AND ST. LAWRENCE.
17
JOINT COST, EARNINGS, EXPENSES, ETC., YEARLY.
Cost of
Miles
Gross Earnings
Operating
Earnings
Year.
Road, &c.
of Road. Passenger.
Freight.
Mails, &c.
Total.
expenses.
less exp's.
1857
$3,967,063
110
$175,521
$133,372
$13,417
$322,310
$150,373
$171,937
1858
3,996,321
110
144,308
118,273
16,568
279,149
133,255
145,894
1859
4,004,394
110
132,458
133,665
15,806
281,929
124,839
157,090
ATLANTIC AND ST. LAWRENCE RAILROAD.
(Financial year ending 30th June, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
John B. Brown
Portland, Me.
Geo. F. Shepley
Portland, Me.
Charles E. Barrett
"
"
H. J. Libby
"
"
Phineas Barnes
"
"
James L. Farmer
"
"
John M. Wood
"
"
Byron Greenough
"
"
Sr. JOHN SMITH, President
Portland, Me.
CHARLES E. BARRETT, Treasurer
"
"
S. T. CORSER, Superintendent
"
"
PRINCIPAL OFFICE
PORTLAND, Cumberland Co., Me.
LENGTH OF Rosn-Portland, Me., to Island Pond, Vt
149.00 miles.
Second Track, including sidings, turnouts, etc
25.00 "
Total equivalent single track
174.00 miles.
ROLLING STocK-Locomotive Engines
41
Cars -Passenger, 17; merchandise, etc., 349
366
The Atlantic and St. Lawrence Railroad Company received its charter from
the three. States through which its road has its route-from Maine on the
10th of February, 1845; from New Hampshire on the 30th June, 1848, and
from Vermont on the 20th October, 1847. The work of construction was
commenced in Maine on the 4th July, 1846, and the road was opened for
public use as follows:-On the 4th of July, 1848, from Portland to Yar-
mouth, 12 miles; in December, 1848, to Danville, 28 miles; on the 8th June,
1850, to Paris, 48 miles; in March, 1851, to Bethel, 70 miles; on the 23d
July, 1851, to Gorham, N.H., 91 miles; on the 12th July, 1852, to Northum-
berland, 122 miles, and on the 29th of January, 1853, to Island Pond Junc-
tion, Vermont, 149 miles.
On the 5th day of August, 1853, a lease of the Atlantic and St. Law-
rence Railroad, with its franchises, and all the property belonging to the
same, was executed to the Grand Trunk Company of Canada for a period of
999 years. By the terms of the lease the Grand Trunk Company obliged
itself to maintain and run the road for the period named, and to assume all
the obligations of the lessors, and to pay on its Share Capital semi-annual
dividends equal to six per cent. In case of breach of contract the road to
revert to the original owners.
SHARE CAPITAL-Authorized, $4,000,000.
Paid in, Dollar Shares
$957,600 in $100 shares.
"
"
Sterling Shares $1,537,300 in £100, or $484 shs.
The dividends on the Dollar Shares are paid at Portland, and on the Ster.
ing Shares in London, at the office of the Grand Trunk Company.
3
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18
MAINE-ATLANTIC AND ST. LAWRENCE.
FUNDED DEBT-$3,472,000: in detail as follows:
1st Mortgage, 6 per cent., coupon bonds
$1,500,000
These bonds were created in favor of the city of Portland as security for
the payment of bonds to the same amount, issued by the latter for the benefit
of the company, in 1848, 1849, and 1850, and in nearly equal instalments.
The several issues are payable 20 years from date. The interest on Portland
City Bonds is payable as follows—
In Boston
$150,000 -int. p'ble May and Nov.
In N. York $150,000-int. p'ble Apr. and Oct.
"
"
250,000
"
"
Jan. and July.
In Portland.
200,000
"
"
June and Dec.
"
"
200,000 "
"
Feb. and Aug.
"
"
100,000 "
"
May and Nov.
"
"
350,000
"
"
Apr. and Oct.
"
"
100,000
"
"
Feb. and Aug.
These bonds, by statute, constitute a first lien on the road, and equipment.
2d Mortgage, 6 per cent., coupon bonds
$1,488,000
This class of bonds was issued on the 1st April, 1851, payable in 15 years
from that date; interest payable semi-annually, at the Company's Office, in
Portland. Of this sum only $988,000 are in circulation, $500,000 of the
amount being held by the city of Portland as security for a loan of the bonds
of that city to the company to an equal amount, in addition to the $1,500,000
loan already described.
Sterling, 6 per cent., coupon bonds
£100,000 or $484,000
This class of bonds was issued November 1st, 1853, and is payable on the
1st Nov., 1878, at the office of the Grand Trunk Company in London. In-
terest payable semi-annually, 1st of Nov. and May. These bonds are not
secured by any lien upon the road.
SINKING FUNDS
$284,567 11.
The law authorizing the loan of the Credit of the city for the benefit of
the railroad, provided for the creation of a Sinking Fund, applicable to the
first issues of $1,500,000. To this fund the Railroad Company was required
to contribute a sum equal to two per cent. of the scrip issued, and to pay
over annually to the same, for a period of five years, one per cent on the
amount of scrip issued; and after five years one and a-half per cent. The
amount of the Sinking Fund on the 1st uly, 1859, was $284,567, as follows:
1. Fund established by the Act of
2. Fund established by the Act of
August 1, 1848:
July 27, 1850:
Principal.
Interest.
Principal.
Interest
1849
$8,000
$120 00
1851
$15,000
$50 00
1850
14,250
686 95
1852
5,000
775 00
1851
16,500
1,499 95
1853
5,000
1,299 33
1852
10,000
2,174 08
1854
5,000
1,665 14
1853
10,000
3,279 39
1855
5,000
2,069 22
1854
15,000
4,015 56
1856
7,500
2,516 60
1855
15,000
5,143 01
1857
7,500
3,061 42
1856
15,000
6,380 93
1858
7,500
3,577 69
1857
15,000
7,553 02
1859
7,500
4,797 34
1858
15,000
8,988 24
1859
15,000
11,164 14
$65,000
$19,811 74
65,000 00
$148,750
$51,005 27
148,750 00
Total, July 1, 1859
$84,811 84
Total, July 1, 1859
$199,755 27
The City Loan of $1,000,000, for
The City Loan of $500,000, for
which this fund was established, will
which this fund was established, will
mature at various periods from Dec.
mature Feb. 1, 1871.
1, 1868, to Jan. 1, 1871.
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MAINE-BANGOR, OLDTOWN AND MILFORD.
19
The state of the investments of both funds is as follows: City Scrip of
Railroad Loans, $101,500; Mortgages of Real Estate, $149,132; County
Securities, $19,000; Boston and Maine RR., 33 shares, $3,300; Boston and
Worcester, 37 shares, $3,700; Portland, Saco and Portsmouth, 53 shares
$5,300; Premium Account, $375; Cash, $2,260-Total, $284,567.
FLOATING DEBT-$8,000, notes payable.
This road being leased to the Grand Trunk Railway Company of Canada,
all its accounts are kept by the Company. Reports are, however, made, as
required by law, to the Legislatures of the States of Maine, New Hamp-
shire and Vermont. The Report made to the Legislature of Vermont for
the year ending June 30th, 1859, states the cost of the road to be $7,217,-
257. To this sum should be added, probably, $200,000 for materials on hand
for working and maintaining the road. The sources from which this sum has
been derived'are as follows:
For share capital
$2,494,900
I
Sterling Bonds
$484,000
City of Portland Bonds
2,000,000
Grand Truuk Railroad Company
1,453,570
2d Mortgage Bonds
988,000
Total
$7,417,257
The road having been built for a gross sum, its cost cannot be given in
detail.
The statement of earnings, expenses, etc., from the opening of the road to
1853, the date of the lease, are taken from the Company's Reports. From
1853 to 1856, from Reports made to the Legislature of New Hampshire;
and from 1856 to 1859, inclusive, from Reports made to the Legislature of
Vermont. The expenses and net earnings for the past year are estimated,
no statement having been made of the same.-See Grand Trunk Railway of
Canada.
COST, EARNINGS, EXPENSES, ETC., YEARLY.
Cost of
Miles
Gross Earnings
Operating
Net
-Dividends
Year.
Road,
&c.
of
road.
Pass'r.
Freight Mails, &c. Total.
expenses.
earnings.
1850
$1,642,214
48
$79,148
$56,890
$7,593
$143,631
$59,594
$84,037
$ nil. nil.
1851
2,826,171
91
81,005
80,321
12,121
173,447
70,219
103,228
"
"
1852
4,735,258
122
80,174
94,785
9,110
184,069
96,234
87,835
"
"
1853
5,763,752
149
101,048
137,210
16,484
254,742
141,222
113,520
"
"
1854
6,019,904
149
153,616
296,891
20,141
470,648
311,598
159,050
149,694
6
1855
6,282,172
149
154,094
367,945
20,449
542,488
386,445
156,043
149.694
6
1856
6,368,576
149
151,805
393,072
20,291
565,168
461,312
103,856
149,694
6
1857
6,594,828
149
154,275
402,798
19,408
576,481
500,340
76,141
149,694
6
1858
7,085,045
149
146,870
380,154
18,767
545,791
395,567
150,224
149,694
6
1839
7,217,357
149
131,614
412,216
18,468
562,298
400,000
162,292
149,694
6
54,535,177
1,304
1,233,649
2,622,282
162,932
4,018,763
2,909,691
1,109,072
898,164
Average. 5,453,517 13.0 123,364 262,228 16,283 401,876 290,969 110,907 89,816 3.6
BANGOR, OLDTOWN AND MILFORD RAILROAD.
(Financial year ending 30th June, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
John W. Veazie
Bangor, Mc.
P. B. Mills
Banjor, Mc.
William J. Lord
"
"
F. H. Dillingham
"
"
SAMUEL VEAZIE, President
Bangor, Me.
JOHN W. VEAZIE, Treasurer and Superintendent
"
"
JOSEPH TANEY, Secretary and Chief Engineer
"
"
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20
MAINE-BANGOR, OLDTOWN AND MILFORD.
PRINCIPAL OFFICE
BANGOR, Penobscot Co., Me.
LENGTH OF Road-Bangor to Oldtown and Milford
12.50 miles.
No second track, except sidings and turnouts, about 2 miles.
ROLLING STOcK-Locomotive engines
4
Cars :-Passenger, 3; merchandise, 45
48
The Bangor, Oldtown and Milford Railroad Company was originally chartered
by the Maine Legislature, on the 8th Feb., 1833, under the title of the
Bangor and Piscataquis Canal and Railroad Company, and was authorized
to construct a railroad from Bangor to Oldtown, with other works. The
construction of the road was commenced in 1835. It was opened for public
use in November, 1836. In 1854-5 the line was carried across the Penob-
scot River, to Milford, a mile and a half, on which occasion the Company
assumed its present title.
The cost of the works at the opening of the road in 1836 was $354,000.
Proving unproductive, it was sold on the 1st Nov., 1848, to a new company
for $60,000, Legislative authority having been obtained therefor in 1847. A
further sum of $75,000 was expended by the new company in relaying the
track, and in 1854-5 an additional sum for extending the road to Milford.
This was the first railroad constructed within the State of Maine, and the
only one until the completion of the Portland, Saco and Portsmouth in 1843.
SHARE CAPITAL-Authorized, $600,000.
Paid in, by original stockholders, $300,000 (sunk).
Paid in, by present stockholders, $135,000-total, $435,000.
FUNDED DEBT
None. II FLOATING DEBT
$40,576.
COST OF ROAD AND EQUIPMENT-$623,263, viz.: to present owners, $244,726,
and to original owners, $378,536, in detail as follows—
Land and land-damages
$59,531
Iron
$69,472
Graduation
189,957
Stations, buildings, etc
?
Bridging
55,842
Rolling Stock
45,232
Masonry
35,844
Engineering
15,559
INCOME ACCOUNT FOR THE YEAR ENDING 30TH JUNE, 1859.
Receipts-
Expenditures-
Passenger traffic
$13,634
Transportation expenses
$5,513
Merchandise
9,068
Receipts of road, etc.
4,051
Lumber
7,364
Wood, oil and waste
1,138
Miscellaneous
764
Engine and cars
14,992
Balance
2,337
General expenses
7,473
Total
$33,167
Total
$33,167
GENERAL LEDGER BALANCE SHEET OF THE NEW COMPANY.
Cr.
Dr.
Stock
$135,000
Paid original purchaser
$60,000
Bills payable.
40,576
Paid relaying track
75,000
Balance of earnings
69,150
Paid bridges and other expenses.
109,726
Total
$244,726
Total
$244,726
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MAINE-BUCKFIELD BRANCH
21
COST, EARNINGS, EXPENSES, ETC., YEARLY.
Cost
Miles
Gross Earnings-
Operating
Net
-Dividend-
Years.
of Road, &c.
of Road.
Pass'r.
Freight.
Total.
Expenses.
Earnings.
1837
$354,000
1100
$11,040
$10,105
$21,145
$15,297
$5,848
¥
nil.
nil.
1838
354,000
11.00
11.596
9,955
21,551
14,577
6,974
"
"
1839
354,000
11.00
9,461
10,201
19,662
14,501
5,161
"
"
1840
354,000
11.00
10,220
6,104
16,324
13,898
2,436
"
"
1841
354,000
11.00
7,955
3,888
11,843
9,620
2,223
"
"
1842
378,536
11.00
6,877
11,988
18,865
13,243
5,622
"
"
1843
378,536
11.00
9,280
7,319
16,599
13,918
2,681
"
"
1844
378,536
11.00
7,690
12,207
19,897
14,127
5,770
"
"
1845
378,536
11.00
9,976
8,800
18,776
12,309
6,467
"
"
1846
378,536
11.00
10,043
13,808
23,851
14,624
9,227
"
"
1847
378,536
11.00
14,253
10,678
24,931
17,271
7,660
"
"
1848
135,000
11.00
14,396
19,509
33,905
19,617
14,288
"
"
1849
135,000
11.00
18,439
11,843
30,282
23,133
7,149
"
"
1850
135,000
11.00
15,095
11,444
26,539
17,482
9,057
"
"
1851
135,000
11.00
14,998
15,173
30,161
16,423
13,738
"
"
1852
135,000
11.00
16,752
14,950
31,702
18,011
13,691
"
"
1853
135,000
11.00
21,879
21,013
42,892
18,654
24,238
9,450
7
1854
135,000
12.50
22,595
21,594
44,189
22,150
22,039
nil.
nil.
1855
176,890
1250
19,086
28,263
47,349.
22,484
24,865
"
"
1856
176,890
12.50
20,776
18,052
38,828.
22,575
16,253
"
"
1857
178,307
12.50
16,893
20,046
36,939
21,615
15,324
"
"
1858
244,726
12.50
13,854
18,921
32,775
21,772
11 003
"
"
1859
244,726
12.50
13,634
17,196
30,830
33,167
2,337 Loss.
"
"
$6,007,755
262
316,778
323,057
639,835
410,458
229,377
Average..
261,207
11.3
13,773
14,046
27,819
17,846
9,973
BUCKFIELD BRANCH RAILROAD.
The Buckfield Branch Railroad Company was chartered 22d June, 1847. The
construction of the road was commenced in 1848. It was opened to Buck-
field, 13 miles, in 1849. In 1856 a mortgage on the same having been fore-
closed, the road became the property of one individual. A new charter was
subsequently obtained under the name of the Portland and Oxford Central
Railroad Company, in which the property and powers of the old company
were merged. Under the new organization SIX miles of road were con-
structed north of Buckfield. The road proving unproductive, it has not
been run for several years, and it is presumed is finally abandoned. No re-
gular reports were made of its operations. The principal office of the Com-
pany has been at Portland.-See Portland and Oxford Central.
CALAIS AND BARING RAILROAD.
(Financial year ending 31st December, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
George M. Porter
St. Stephens, N.B.
John McAdams
St. Stephens, N.B.
Horatio N. Hill
"
"
Edward A. Barnard
Calais, Me.
JAMES SARGENT, President
Calais, Me.
FRANCIS K. SWAN, Treasurer
"
"
W. W. SAWYER, Superintendent
"
"
PRINCIPAL OFFICE
CALAIS, Washington Co., Me.
LENGTH OF RoAD-Calais to Baring
6 miles.
No second track, except sidings and turnouts.
Cost to new company, 1848-59.
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22
MAINE-CALAIS AND BARING.
ROLLING STOCK-Locomotive engines
3
Cars of all descriptions
160
The Calais and Baring Railroad Company was chartered on the 20th March,
1837. The construction of the road was commenced early in 1850. It was
opened for public use in June, 1851. The principal business of this road is
the transportation of lumber from the mills on the St. Croix River, to tide-
water, at Calais.
SHARE CAPITAL-Authorized, $200,000, in 2,000 $100 shares.
Awarded and paid in, $100,000.
FUNDED DEBT-$114,800 in two classes, as follows—
1st Mortgage, 6 per cent. coupon bonds
$97,000
-dated 1st July, 1852, and payable, the principal 1st July, 1864, and the in-
terest semi-annually, 1st Jan. and 1st July, at the Bank of Commerce,
Boston.
2d Mortgage, 6 per cent. coupon bonds
$17,500
-dated 1st July, 1854, and payable, principal 1st July, 1864, and coupons
semi-annually, 1st Jan. and 1st July, at the Bank of Commerce, Boston. In-
terest on both classes of bonds has been regularly paid.
FLOATING DEBT-$4,737, bills payable.
COST OF ROAD AND EQUIPMENT-$224,000: in detail as follows—
Lands, land-damages, etc
$13,120
Masonry
$3,558
Graduation
55,815
Iron
31,108
Bridging
8,051
Rolling stock
30,045
INCOME ACCOUNT FOR THE YEAR ENDING 31sT Dec., 1859.
Receipts-
Disbursements-
Passenger traffic
$1,647
Operating expenses
$13,568
Freight traffic
26,844
Interest on bonds
6,988
Mail service, etc
700
Dividend, 3 per cent
4,000
Balance
4,653
Total
$29,191
Total
$29,191
GENERAL LEDGER BALANCE SHEET, 1ST Jan., 1859.
Cr.
Dr.
Share capital
$100,000
Cost of construction and equipment
$224,000
1st Mortgage Bonds
$97,300
Cash on hand
3,343
2d Mortgage Bonds
17,500-114,800
Floating Debt.
4,737
Balance from income
7,806
Total
$227,343
Total
$227,343
Cost, EARNINGS, EXPENSES, ETC., YEARLY.
Mile-
Gross Earnings
Ex-
Net
Year.
Cost.
age.
Pass'ger.
Freight.
Mails.
Total.
penses.
Earnings.
1851
$185,232
6.00
$809
$12.056
$1,151
$14,016
84,992
$9,024
$4,000
4
1852
198,468
6.00
1,700
23,769
252
25,721
9,804
15,917
8,000 8
1853
217,255
6.00
1,361
25,409
1,268
28,038
11,821
16,217
6,000
6
1854
224,000
6.00
1,420
28,890
1,330
31,640
15,616
16,024
nil.
nil.
1855
224,000
6.00
2,521
33,201
1,450
39,172
16,973
20,199
"
"
1856
224,000
6,00
2,406
28,558
1,416
32,380
13,720
28,660
4,000
4
1857
224,000
6.00
1,697
25,676
1,010
28,383
15,984
12,399
nil.
nil.
1858
224,000
6.00
1,431
23,223
944
25,598
11,956
13,642
3,000
3
1859
224,000
6.00
1,647
26,844
700
29,191
13,568
15,623
4,000
4
$1,944,955
54
14,992
227,626
9,521
252,139
114.434
137,705
29,000
Aver.
216,106
6
1,668
25,292
1,058
28,016
12,715
15,301
3,222
3.2
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MAINE-EUROPEAN AND NORTH AMERICAN.
23
EUROPEAN AND NORTH AMERICAN RAILROAD.
The European and North American Railroad Company was chartered on the
20th day of Aug., 1850. Its object was to connect the railroads of Maine
with those of the Lower British Provinces, by a line extending from Bangor
to the eastern boundary of the State in direction of St. John, New Bruns-
wick. Its construction has not yet been commenced.
The route of the road follows up the Penobscot River to Oldtown. It
then diverges, taking a generally easterly direction to the St. Croix River, at
Calais. The whole distance in the State of Maine is about 90 miles. Its
estimated cost is about $2,000,000. In the event of the construction of the
road, it is probable that the railroad from Bangor to Oldtown would be
adopted as a part of the line.
FRANKLIN (OR MACHIASPORT) RAILROAD.
This road belongs to a private manufacturing company, and was con-
structed for the purpose of transporting lumber from its mills on the Machias
River to tide-water. Its length is 71 miles. It cost $110,000. No reports
of its operations are made.
GREAT FALLS AND SOUTH BERWICK BRANCH RAILROAD.
LENGTH OF Road-Great Falls to South Berwick
6 miles.
The Great Falls and South Berwick Branch Railroad Company was chartered
on the 8th June, 1848. The road was completed and opened for public use
in 1854, and was operated in connection with the Portland, Saco and Ports-
mouth, and the Eastern Railroad Companies; but proving unproductive,
it for several years was abandoned, and has only within the past few months
been again brought into use. It cost $166,160, represented by stock to the
amount of $93,561, and indebtedness to the amount of $72,599.
LEWY'S ISLAND RAILROAD.
(Financial year ending 31st Dec., 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
E. C. Gates
Calais, Me.
F. A. Pike
"
"
-
Samuel Kelly
Calais, Me.
Putnam Rolfe
Princeton, "
William Duren
"
"
Benjamin Young
Calais, "
WILLIAM Todd, President
St. Stephens, N.B.
S. T. KING, Treasurer
Calais, Me.
A. J. PERKINS, Superintendent
"
"
PRINCIPAL OFFICE
CALAIS, Washington Co., Me.
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24
MAINE-LEWY'S ISLAND.
LENGTH OF RoAD-Baring to Princeton
16.50 miles.
Length of second track and sidings
0.50 "
ROLLING STOCK
2 engines and 30 cars.
The Lewy's Island Railroad Company was chartered by the Legislature of
Maine in 1855. The road was constructed in 1856-7, and fully opened in
January, 1858. It was built to transport lumber from mills on the St. Croix
River to tide-water. A portion of its line is in the Province of New Bruns-
wick.
SHARE CAPITAL-Authorized, $200,000, in 2,000 $100 shares.
Paid in, $171,310.
FUNDED DEBT-$210,000, as follows—
1st Mortgage, 6 per cent. coupon bonds
$150,000
-dated 1st Dec., 1856, payable, principal in 20 years, and coupons semi-an-
nually, 1st June and 1st Dec., at the Globe Bank, Boston. The 1st Mort-
gage Bonds were issued to the city of Calais in exchange, and as security
for bonds of a like amount and tenor issued by the city to the Railroad Com-
pany, the principal and interest of which the Company undertook to pay.
The interest has been regularly paid.
The bonds issued by the Company are not in circulation, but held by the
City as collateral for its bonds.
2d Mortgage, 6 per cent. coupon bonds
$60,000
-dated 15th June, 1857, payable, principal in 12 years, and coupons semi-
annually, 15th June and 15th Dec., at the Company's office, Calais. No in-
terest has been paid on this class.
The road is now in the hands of the trustees under the 2d Mortgage for
default of interest.
CosT OF CONSTRUCTION, ETC.-$315,000, as follows-Amount expended for
lands, $1,301; for iron, $89,161; for rolling stock, $16,081; labor and ma-
terial under contract, $208,457.
INCOME ACCOUNT FOR THE YEAR 1859.
Receipts-
Disbursements-
Freight
$10,332
Current expenses
$5,300
Passengers
2,768
Interest on Caluis Scrip
6000
Balance
1,800
Total
$13,100
Total
$13,100
The earnings for 1858 were $12,950, viz. : From passengers, $2,100;
freight, $10,850 ; current expenses for the year, $7,362; net earnings, $5,588.
GENERAL LEDGER BALANCE SHEET, 1ST Jan, 1860.
Cr.
Dr.
Capital (shares)
$171,310
Cost of road, etc
$315,000
Funded Debt
210,000
Profit and loss
66,310
Total
$381,310
Total
$381,310
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MAINE-KENNEBEC AND PORTLAND.
25
KENNEBEC AND PORTLAND RAILROAD.
(Financial year closing 31st August, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
Allen Lambard
Augusta, Me.
A. B. Thompson
Brunswick, Me.
Ruel Williams
"
"
J. F. Southard
Richmond, "
George F. Patten
Bath, "
F. T. Lally
Gardiner,
"
ALLEN LAMBARD, President
Augusta, Me.
J. S. CUSHING, Treasurer
"
"
B. H. CUSHMAN, Superintendent
"
"
Trustees in Possession-Joseph McKeen, John Patten and Marshall S. Hagar.
PRINCIPAL OFFICE
AUGUSTA, Kennebec Co., Me.
LENGTH OF RoAD-Main Line, Portland to Augusta
63.00 miles.
Branch Line, Brunswick to Bath
9.50 "
No second track. Sidings and turnouts, about 8 miles.
ROLLING STocK-Locomotive engines
12
Cars :-Passenger, 11 ; merchandise, etc., 120
131
The Kennebec and Portland Railroad Company was chartered on the 1st April,
1846. The construction of the road was commenced in 1847, and completed
in 1852. That section between the Atlantic and St. Lawrence Railroad, at
Yarmouth, and the city of Bath, was opened on the 4th of July, 1849; from
Brunswick to Gardiner in Dec., 1851, and to Augusta in the January follow-
ing. The Yarmouth Extension, between Yarmouth and Portland, 13 miles,
was constructed in 1850-51. The road enters Portland on the west side of
the city, and there connects with the Portland, Saco and Portmouth Rail-
road, with a similar gauge.
SHARE OAPITAL-Authorized, $1,402,400, in 14,024 $100 shares.
Paid in, $1,287,779 : in detail as follows—
Yarmouth Extension, 6 per cent. stock
$202,400
Preferred Stock
247,000
New Preferred Stock
125,600
Common Stock
712,779
The Yarmouth Extension Stock constitutes a first lien on the Yarmouth
section of the road. It was originally a 10 per cent. stock, but was reduced,
by agreement, to 6 per cent. Dividends payable semi-annually, 1st April
and 1st Oct. As the road is in the hands of trustees under the mortgages,
and as no dividends have ever been paid, a description of the different classes
of Preferred Stock is not regarded as necessary.
FUNDED DEBT-$1,280,000: in detail as follows-
1st Mortgage, 6 per cent. coupon bonds
$800,000
-issued in favor of certain cities and towns, in exchange and as security for
their bonds of like amount and tenor, issued to, and sold by the Railroad
Company, viz.: to the city of Augusta, $200,000; to the city of Bath,
$200,000; to the city of Gardiner, $150,000; to the city of Hallowell,
$100,000; to the town of Brunswick, $75,000; to the town of Topsham,
$30,000. The balance of the $800,000 was made to private parties, the
towns of Bowdoinham and Richmond declining to make an issue of their
bonds as authorized, to the amount of $45,000. The Company undertook
4
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26
MAINE-KENNEBEC AND PORTLAND.
to pay the City and Town Bonds at maturity, with the interest on the same
Both classes are dated Nov. 1, 1850, and are payable in 20 years from date.
Interest on the city and town loans is due in Boston 1st April and Nov., and
has been paid by the Company.
2d Mortgage, 6 per cent. coupon bonds
$230,000
-dated 15th Oct., 1851; principal payable in 10 years; interest semi-an-
nually, (15th April and 15th Oct.), at Augusta. No interest has been paid
since 15th Oct., 1855. On the 1st of Sept., 1856, the Trustees under this
mortgage took possession of the road, and have since operated it.
3d Mortgage, 6 per cent. coupon bonds
$250,000
-dated 15th Oct., 1852; principal payable in 10 years; interest semi-an-
nually, (15th April and 15th Oct.) at Augusta. No interest has been paid
since 15th Oct., 1855.
SINKING FUND
$76,874
The act authorizing the issue of the City and Town Bends provided for a
Sinking Fund, to be created as follows The Company to pay to the same a
sum equal to two per cent. on the amount of bonds issued-to pay at the
rate of one per cent. on their amount for a period of five years; and there-
after, at the rate of one and a-half per cent. The payments to the fund were
made as required up to 1855, since which no additions have been made, ex-
cept from the interest on the sum invested. The investment of the fund at
date named was as follows:-In town scrip of Augusta, Gardiner, Hallowell,
Brunswick and Topsham, $45,200; in Yarmouth Stock Bonds, $31,000;
cash in hands of trustees, $75.
GENERAL LEDGER BALANCE SHEET, 30ти SEPTEMBER, 1856.*
Dr.
Cr.
Construction Account
$2,234,269
City and Town Loans
$800,000
Land damages
186,835
2d Mortgage Bonds
230,000
Car account.
102,562
3d Mortgage Bonds
250,000
Engine account
97,129
Bonds payable to Clapp and others
14,000
Amount paid Yarmouth Road
202,400
Preferred Stock, Stock Notes, etc
250,253
Interest, sundry accounts, etc
48,069
Yarmouth Road Stock Bonds
202,400
Sinking fund
$52,850
Amt. rec'd of P.S. & P. Co.
100,000
Bonds pledged
19,900
Original stock assessments
$712.779
Accounts due
26,091
Add stock interest
34,818-747,598
Fuel, stock in machine shops. 21,893
New Preferred Stock
125,600
119,734
Bills payable and sundry accounts.
271,143
Total
$2,990,998
Total
$2,990,998
COST, EARNINGS, EXPENSES, ETC., YEARLY.
Cost of Miles
Gross Earnings
Operating
Net
-Divi'ds-
Year.
Road, &c. of road.
Pass'r.
Freight.
Mails,
&c.
Total.
expenses.
earnings.
s
p.c.
1851
$1,742,370
60
$49,067
$18,000
$67,067
$30,000
$37,067
nil. nil.
1852
2,181,000
721
92,291
30,000
122,291
50,000
72,291
"
"
1853
2,514,067
72f
127,127
33,604
7,382
168,113
67,561
100,552
"
"
1854
2,605,365
721
153,162
43,102
12,304
203,568
94,499
114,069
"
"
1855
2,766,677
72b
167,439
49,041
12,086
228,566
114,104
114,462
"
"
1856
2,871,264
72f
142,059
51,826
10,482
204,367
138,747
65,620
"
"
1857
2,871,264
721
139,574
66,958
13,354
219,886
147,706
72,180
"
"
1858
2,871,264
72b
87,591
54,977
22,506
165,074
94,328
70,746
"
"
1859
2,871,269
72,4
85,541
54,921
24,054
164,516
82,821
81,695
"
"
$23,294,540
640
1,043,851
402,429
102,168
1,548,448
819,766
728,682
"
"
Average. 2,588,282
71
115,983
44,714
11,352
160,935
91,085
86,964
"
"
No dividends have been paid, except on the Yarmouth Stock.
The latest published. No change since that time, except accumulations of interest.
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MAINE-PENOBSCOT AND KENNEBEC.
27
INCOME ACCOUNT FOR THE YEAR ENDING 31st AUGUST, 1859.
Receipts-
Disbursements-
110,479 passengers
$85,541
Working expenses
$82,821
27,6391 tons freight
54,921
City and town coupons (No. 16 & 17 Bds) 48,000
Som. & Ken. RR., etc
14,566
Yarmouth dividends to 1st April, 1859. 12,144
Mails, etc.
9,488
Balance
21,551
Total
$164,516
Total
$164,516
The available assets in the hands of the Trustees amount to $29,570, of
of which $8,019 was excess of earnings in 1857-8, and $21,551 in 1858-9.
PENOBSCOT AND KENNEBEC RAILROAD.
(Financial year ending 31st May, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
T. W. Baldwin
Bangor, Me.
William Connor
Kendall's Mills, Me.
Franklin Muzzy
"
"
John Webber
Waterville, "
Jabez True
"
"
Ira Crocker
Portland, "
HOLLIS BOWMAN, President
Bangor, Me.
ELIAS MERRILL, Treasurer and Secretary
"
"
EDWIN NOYES, Superintendent
Waterville, "
PRINCIPAL OFFICE
BANGOR, Penobscot Co., Me
LENGTH OF RoAD-Bangor to Waterville
55 miles
No second track. Sidings and turnouts about 6 miles.
ROLLING STocK-Locomotive Engines
4
Cars :-Passenger, 10; merchandise, etc., 93
103
The Penobscot and Kennebec Railroad Company was chartered on the 7th
April, 1845. The construction of the road was commenced in 1852, and
completed as follows: from Waterville to Kendall's Mills, in Dec., 1853 ;
thence to Pittsfield in Nov., 1854, and to Bangor in August, 1855. On the
1st day of November, 1856, the road was leased to the Androscoggin and
Kennebec Company for a period of 20 years, the latter agreeing to maintain
and operate the road, and to pay to the former three-sevenths of the net
earnings of the joint business. Under this lease the Company has received
$164,020, viz.:-for six months ending 31st May, 1857, $33,170; for the year
1857-8, $63,526, and for the year 1858-9, $67,324.-(See And. & Ken. RR.)
The earnings from its opening to the date of the lease, (average 18 months)
amounted to $145,577, viz. : from passenger traffic, $94,537 from freight,
traffic, $44,655, and from mails, etc., $6,585. The expenses of working were
$82,554; net earnings, $63,023.
SHARE CAPITAL-Authorized, $1,000,000, in 10,000 $100 shares.
Paid in, $555,229. No dividends have been paid.
FUNDED DEBT-$1,206,800; in detail as follows-
Bangor City, 1st Mortgage, 6 per cont., coupon bonds
$800,000
-of these $500,000 were issued on the 2d Oct., 1854, payable in 20 years;
interest semi-annually, (2d April and 2d Oct.,) at Boston; and $300,000 on
the 21st April, 1855, payable in annual instalments of $20,000 after 1860; in-
terest semi-annually, (21st April and 21st Oct.,) at Boston. These bonds
Digitized by
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28
MAINE-PORTLAND, SACO AND PORTSMOUTH.
constitute by statute a first lien on the road, and are further secured by an
equal amount of the Company's bonds issued to the city. Interest has
been regularly paid by the Company..
2d Mortgage, 6 per cent., coupon bonds
$250,200
-issued 1st August, 1856, and payable in 20 years; interest semi-annually,
(1st Feb. and 1st Aug.,) at Bangor. Interest has been regularly paid.
3d Mortgage, 6 per cent., coupon bonds
$156,600
-issued 1st Sept., 1856, and payable, principal in 15 years and interest semi
annually, (1st March and 1st Sept.,) at Bangor. Interest unpaid since 1st.
March, 1858. This mortgage provided for an issue of $300,000.
FLOATING Девт—$152,936, viz. : bills payable, $106,616; interest scrip due
to stockholders, $21,959 coupons outstanding, $18,061, and unliquidated
claims, $6,300.
CosT OF ROAD AND EQUIPMENT-$1,715,433 : in detail as follows-
Land and land-damages, etc
$97,441
Iron rails, spikes, etc
$367,896
Graduation
665,392
Stations, buildings, etc
60,684
Masonry
114,856
Locomotives and cars
104,019
Bridging
78,854
Engineering and other expenses
226,291
GENERAL LEDGER BALANCE SHEET, 1ST JUNE, 1859.
Cr.
Dr.
Capital stock
$555,229
Construction Account, including-
City of Bangor Bonds (1st Mort.)
800,000
Pier Co. lands & city lot at Bangor.
$1,611,414
Company's Bonds (2d Mort.)
250,200
Equipment
104,019
"
"
(3d Mort.)
156,600
Stock in Pen. & Ken. RR. Co. received
Interest scrip due stockbolders
21,959
from sale of 3d Mort. Bonds, etc.
78 014
Bills Payable and accounts
106,616
City Bangor Bonds unsold
2.000
Cash and bills receivable, etc
4,181
Profit and loss
$158,300
Less income, 1859
67,324- 90,976
Total
:
$1,890,605
Total
$1,890,605
PORTLAND, SACO AND PORTSMOUTH RAILROAD.
(Financial year ending 31st May, 1859.
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
Francis Cogswell
Andover, Mass.
Thomas West
Harerhill, Mass.
George M. Browne
Boston, "
James Hayward
Boston, "
Nathaniel Hooper
"
"
Charles E. Barrett
Portland, Me.
ICHABOD GOODWIN, President
Portsmouth, N. H.
ELIPHALET NOTT, Treasurer
Portland, Me.
JOHN RUSSELL, Jr., Superintendent
"
"
PRINCIPAL OFFICE
PORTLAND, Cumberland Co., Me.
LENGTH OF RoAD-Portland Me., to Portsmouth, N. II
51.30 miles.
Sidings, turnouts, etc
"
ROLLING STOcK-Locomotive engines
11
Cars :-Passenger, 13; merchandise, etc., 118
131
The Portland, Saco and Portsmouth Railroad Company was chartered by the
Maine Legislature on the 14th March, 1837. The construction of the road
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MAINE-PORTLAND, SACO AND PORTSMOUTH.
29
was commenced in 1841, and the whole line was opened for public use on the
21st Nov., 1842. On the 28th April, 1847, a contract was made between
the Portland, Saco and Portsmouth Company, and the Eastern and the Bos-
ton and Maine Companies, whereby the two latter took a perpetual lease of
the road of the former, agreeing to maintain and operate the same, and to pay
a rent to the lessors equal to 6 per cent. Under this contract the dividends
have been regularly paid. They have however, as will be seen, been earned
by the road.
SHARE CAPITAL-Authorized and paid in, $1,500,000, in $100 shares.
FUNDED AND FLOATING DEBT-None.
COST OF ROAD AND EQUIPMENT-$1,500,000: as follows—
Land, land-damages, etc
$86,894
Superstructure, including iron
$364,976
Graduation
437,701
Stations, buildings, etc
171,254
Masonry
61,048
Locomotives and cars
95,549
Bridging
93,831
Engineering
48,730
Interest, discounts, and otherwise invested
139,017
INCOME ACCOUNT FOR THE YEAR ENDING 1ST May, 1859.
Receipts from
Maintenance of way
$27,306
205,248 passengers
$147,964
Repairs of engines, etc
31,669
Freight
46,908
Trains expenses
9,740
Expresses
3,469
Stations expenses.
12,235
Mail service
7,837
Shops, insurance, taxes, mails, int., etc
13,321
Sundries
421
Renewal account
10,000
Balance Earnings
104,129
Total
$208,299
Total
$208,296
The Company publish no General Ledger Balance Sheet. In the annual
reports, the cost of the road, etc., is stated to equal the capital stock; and,
above this, the Company have undivided earnings amounting to $54,873.
COST OF ROAD, EARNINGS, EXPENSES, ETC., YEARLY.
Mile
Gross Earnings
Ex-
Net
-Dividend-
Year.
Cost.
age.
Pass'ger.
Freight.
Mails.
Total.
penses.
earnings.
p.c.
1843
$1,048,194
51
$26,614
$1,885
$2,820
$31,319
$20,982
$10,337
$36,680
31
1844
1,158,983
51
84,926
10,957
9,062
104,945
46,049
58,899
69,000
6
1845
1,236,750
51
106,137
18,138
7.129
131,404
51,822
79,582
69,440
6
1846
1,250,000
51
98,991
18,503
8,903
126,397
55,485
70,912
70,000
6
1847
1,260,817
51
120,454
19,157
8,677
148,288
55,452
92,836
70,000
6
1848
1,271,824
51
129,344
20,891
10,588
160,823
59,223
101,600
71,565
6
1849
1,292,091
51
123,814
20,531
10,410
154,755
58,186
96,569
77,520
6
1850
1,293,640
51
155,751
25,413
9,637
190,801
72,836
117,965
78,000
6
1851
1,300,323
51
150,847
25,969
10,789
187,605
80,792
106,813
78,510
6
1852
1,301,883
51
154,115
32,895
14,255
201,265
90,029
111,236
78,705
6
1853
1,302,458
51
158,901
49,572
14,508
222,981
91,563
131,418
80,175
6
1854
1,303,395
51
189,094
58,351
15,334
262,779
108,720
154,059
81,100
6
1855
1,317,605
51
202,091
62,161
14,697
278,949
136,788
142,161
82,956
6
1856
1,359,218
51
192,886
61,299
16,029
270,214
157,723
112,491
90,000
6
1857
1,494,791
51
189,487
56,104
8,126
253,717
132,808
120,909
90,000
6
1858
1,500,000
51
155,954
48,029
8,014
211,997
110,853
101,144
90,000
6
1859
1,500,000
51
147,964
48,607
11,728
208,299
104,270
104,029
90,000
6
22,191,972
51
2,387,370
578,462
180,706
3,146,538
1,433,581
1,712,957
1,303,651
Aver'e.
1,305,410
51
140,443
34,027
10,630
185,090
84,328
100,762
76,690
6
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30
MAINE-PORTLAND AND OXFORD CENTRAL.
PENOBSCOT RAILROAD.
OFFICERS, 1859-60.
GIDEON Mayo, President
Orono, Me.
E. P. BUTLER, Treasurer
"
"
PRINCIPAL OFFICE
ORONO, Penobscot Co., Me.
LENGTH OF Road-From Bangor to Milford
14 miler.
The Penobscot Railroad Company was chartered on the 21st August, 1850.
It was placed under contract in 1852. The line is now pretty nearly graded.
No portion of it has yet been laid. It follows the immediate bank of the
Penobscot River, crossing it at Oldtown. The work of construction has
been suspended for some time past.
SHARE CAPITAL-Authorized, $600,000, in 6,000 $100 shares.
Paid in, - $180,497.
FUNDED DEBT-$300,000 described as follows-
1st Mortgage Bonds
$300,000
-dated in 1855, and payable, principal in 20 years; interest semi-annually.
Of these bonds, about $45,000 have been sold absolutely; the greater part
of the balance is held as collateral to the debts of the Company. No interest
has been paid on the bonds.
FLOATING DEBT (ESTIMATED)-$75,000.
The amount expended on the road (exclusive of iron) has been $328,412.
This amount embraces considerable purchases of real estate situated in
Bangor for depot, lumber yard, etc., etc.
PORTLAND AND OXFORD CENTRAL RAILROAD.
F. O. J. SMITH, President and principal owner
Portland, Cumberland Co., Me.
LENGTH OF Road-From Mechanics' Falls to Sumner
19 miles
The Portland and Oxford Central Railroad Company was chartered in the
year 1856, with authority, among other things, to extend the Buckfield
Branch Railroad, which was merged in the new company, from Mechanics
Falls to Portland, a distance of about 33 miles. No progress has been made
in the extension toward Portland. The road has not been run for several
years past, and may probably be considered as abandoned.
SHARE CAPITAL-Authorized, $1,260,000, in 12,600 $100 shares.
Paid in, - $144,000, on 1,440
"
Cost OF ROAD AND EQUIPMENT-$360,000.
No reports have been made by the Company, and no further statement of
its financial condition can be given.-(See Buckfield Branch Railroad.)
Digitized by Google
MAINE-SOMERSET AND KENNEBEC.
31
SOMERSET AND KENNEBEC RAILROAD.
(Financial year ending 31st March, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
Lot M. Morrill
Augusta, Me.
Samuel Cony
Augusta, Me.
Abner Coburn
Bloomfleld, "
John Mulliken
"
"
Samuel Robinson
Skowhegan, "
L. W. Lithgow
"
"
Ezra Totman
Fairfield,
"
Ebenezer Frye
Vassalboro,
"
JOSEPH EATON, President
Winslow, Me.
BENJAMIN DAVIS, Treasurer
Augusta, "
B. H. CUSHMAN, Superintendent
"
"
PRINCIPAL OFFICE
AUGUSTA, Kennebec Co., Me.
LENGTH OF RoAD-Augusta to Skowhegan
37 miles.
No second track. Sidings and turnouts about 2 miles.
ROLLING STocK-Locomotive engines
2
Cars :-Freight
8
The Somerset and Kennebec Railroad Campany was chartered on the 10th
August, 1848. The work of construction was commenced in 1853, and the
road was opened in 1855, to Kendall's Mills, 21 miles, and in Dec,, 1857,
to Skowhegan, 16 miles. Since its opening it has been furnished with rolling
stock, and operated by the Kennebec and Portland Company under tem-
porary contracts.
SHARE CAPITAL-Authorized, $700,000, in 7,000 $100 shares.
Paid in, $168,200.
FUNDED DeBT-$550,000 classified as follows—
1st Mortgage, 6 per cent. coupon bonds
$300,000
-dated 15th June, 1854, and payable in 20 years. Coupons semi-annually,
15th June and Dec., at the Company's office, Augusta.
2d Mortgage, 6 per cent. coupon bonds
$250,000
-dated 15th June, 1856, and payable in 20 years. Coupons semi-annually,
15th June and Dec., at Augusta. The 2d Mortgage provided for an issue
of $350,000.
No interest has been paid on either class of bonds for the last two years.
Of the 1st Mortgage Bonds $102,000 are pledged for $70,00 and of the
2d Mortgage $12,000 for $6,000. The bonds sold realized $355,700.
FLOATING DEBT-$51,926, bills payable, etc. There are also coupons to the
amount of $66,000 over-due.
COST OF ROAD AND EQUIPMENT-8783,763 in detail as follows—
Land, land-damages, etc
830,476
Masonry
$6,447
Graduation
348,819
Iron
158,791
Engineering
19,409
Rolling Stock
7,000
Bridging
97,103
Other expenditures
106,716
INCOME ACCOUNT FOR THE YEAR ENDING 31st MARCH, 1859.
Receipts-
Disbursements-
34,848 passengers
$20,500
Operating expenses, paid K. & P. Co
$13,653
16,001 tons freight.
30,960
Pay rolls for station and section men
8,706
Mail service
3,343
Incidental expenses
2,129
Express
600
Gravel train, ordinary repairs.
2,501
Surplus income
28,414
Total
$55,403
Total
$55,403
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32
MAINE-YORK AND CUMBERLAND.
The surplus income was disposed of as follows: improvements on build-
ings, etc., $1,500 covering and finishing Skowhegan bridge, $1,342; land-
damages, $225; coupons due June, 1856, $600; mail service uncollected,
$592; iron liability, $22,973, and wood now on hand, $1,180.
GENERAL LEDGER BALANCE SHEET, 1ST APRIL, 1859.
Cr.
Dr.
Share capital
$169,200
Cost of road, etc
$783,763
Funded debt
550,000
Profit and loss, balance
53,363
Floating debt
51,926
Overdue coupons
66,000
Total
$837,126
Total
$837,126
CosT, EARNINGS, EXPENSES, ETC., YEARLY.
Cost
Mile-
Gross Earnings
Operating
Net
Div
Year.
of Road.
age.
Passen'r.
Freight.
Mail.
Total.
expenses. ear'gs.
8 P c.
1855
$700,000
21.00
nil. nil.
1856
700,000
21.00*
Operated by Ken. & Port.
21,950
14,250
7,710
"
"
1857
734,389
37.00+
Co., except for 2 months,
65,904
29,756
36,148
"
"
1858
783,763
37.00t
viz. Sept. & Oct, 1857.
24,832
6,742
18,090
"
"
1859
783,763
37.00$
20,500
30,960
3,943
55,403
26,989
28,414
"
"
$3,701,915
153.00
$168,089
$77,727
$90,362
"
"
Average
740,383
30.60
....
42,022
19,432
22,590
"
"
YORK AND CUMBERLAND RAILROAD.
(Financial year ending 31st December, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
R.I. Robison
Portland, Me.
Hiram H. Dow
Portland, Me.
J. P. Rich
"
"
Arthur McArthur
Limington,
"
Ammi R. Mitchell
"
"
George R. Davis
Portland, "
J. W. LANE, President
Portland, Me.
J. P. RICH, Superintendent
"
"
PRINCIPAL
FICE
PORTLAND, Cumberland Co., Me.
LENGTH OF Roan-From Portland, Me., to Great Falls, New Hampshire 52 miles.
Completed and in operation, from Portland to the Saco River 18 miles.
ROLLING STocK-Locomotive engines.
3
Cars of all descriptions
20
The York and Cumberland Railroad Company was chartered in 1846. The
construction of its road was commenced in 1849, and completed to Gorham,
101 miles, on the 8th of Feb., 1851, and to the Saco River, 15th of Feb.,
1853. A portion of the road, between Saco River and the town of Alfred,
and also a portion of it near Great Falls, have been graded, though the
work of construction is now suspended.
# 13 months' operations, from Feb., 1855, to 11th April, 1856. t 16f months' operations, from
11th April, 1856, to 1st Sept., 1857. 1 8 months' operations, Sept. to 30th April, 1858, including
$4,636 earnings for Sept. and Oct., 1857. $ Full years operations.
Digitized by Google
MAINE-YORK AND CUMBERLAND.
33
CAPITAL STOCE-Authorized, $1,500,000.
Paid in, $370,000.
FUNDED DEBT-$438,000, as follows—
1st Mortgage, 6 per cent. coupon bonds
$40,000
-issued 6th Feb., 1851, and payable in 20 years; interest semi-annually, in
Portland. The interest on these bonds has not been paid for several years.
2d Mortgage, 6 per cent. coupon bonds
$398,000
-dated 1st Jan., 1856, and payable in 20 years; interest semi-anually, 1st
Jan. and 1st July, in Portland. Only one coupon, due 1st July, 1856, has
been paid.
This class of bonds was issued for the following purposes:
The road up to 1st Jan., 1856, had cost $1,090,000, as follows—
Stock paid
$370,000
Judgments
$200,000
1st Mortgage Bonds
40,000
Floating Debt
50,000
2d Mortgage Bonds
410,000
Land claims
20,000
The judgments took priority of the second mortgage, and the road was
sold under them, on the 30th of April, 1856, for $80,000. A compromise was,
however, agreed upon between all the creditors upon the following terms
A new mortgage was created on all the property of the Company to secure
bonds to the amount of $950,000, into which the several classes of creditors
were to convert their claims as follows:
Land claims at par
$20,000!
d Mort. Bds., $410,000, at 30 per cent $123,000
First Mortgage Bonds
40,000
Floating Debt
15,000
Judgments against the Company
200,000
Total
$398,000
This amount represented, under the settlement, the cost of the 18 miles of
road constructed; the stockholders surrendering their stock in consideration
of being released from liability thereon. Most of the parties interested, ex-
cept, perhaps, the 1st Mortgage Bondholders, have assented to this agree-
ment, and their former claims extinguished thereby. The balance of the
bonds, $552,000, was to be used in the completion of the road to Great Falls,
for which a contract was executed at the same time, the contractors to receive
$1,006,000, one-half in 2d Mortgage Bonds, and one-half in new stock.
Under this contract some work has been done between the Saco River and
the town of Alfred. The company publish no reports; and no income ac-
count, or general balance sheet, can be given. The cost, earnings, etc., of
the road since its opening for business, have, with the exception of the past
year which is estimated, been as follows:
COST OF ROAD, EARNINGS, EXPENSES, ETC., YEARLY.
Cost of
Miles.
Gross Earnings
Operating
Earng's,-Div-
Year.
Road, &c.
of Road.
Passen'r.
Freight.
Mails,etc.
Total.
expenses.
less exp.
p. c.
1851
$399,010
101
$9,007
$1,037
$10,044
$9,292
$752
nil.
1852
641,021
10$
11,349
4,345
15,694
10,673
5,021
"
1853
748,699
20
14,800
13,598
193
28,591
15,727
12,864
"
1854
765,018
20
16,348
14,364
30,712
24,688
6,024
"
1855
774,714
20
21,372
17,125
771
39,268
25,468
13,800
"
1856
774,714
20
16,362
15,048
771
32,181
27,000
5,181
"
1857
398,000
20
16,792
12,493
785
30,070
29,086
984
"
1858
398,000
20
13,817
15,907
800
30,524
24,519
6,005
"
1859
398,000
20
14,000
16,000
800
30,800
24,000
6,800
"
$5,297,176
161
133,847
109,917
4,120
247,884
190,453
57,431
"
Average. 588,575
18
14,872
12,213
458
27,542
21,172
6,380
"
5
Digitized by
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LAWS OF THE STATE IN REFERENCE TO RAILROADS.
List of all the Railroad Companies chartered in the State of Maine, with
the dates of the Acts of their incorporation; and also the dates and abstracts
of all laws passed by the Legislature in reference thereto.
The asterisk [*] prefixed signifies that the work of construction has not been commenced.
Corporate Titles.
Date.
Abstract of Laws.
ANDROSCOGGIN
Aug. 10, 1848
Act of incorporation.
"
Feb. 16, 1853
May increase share capital.
"
Apr. 20, 1854
Amends act of incorporation.
"
"
Apr. 1, 1856
May consolidate with other companies.
ANDROSCOGGIN & KENNEBEC
Mch. 28, 1845
Act of incorporation.
"
"
June 21, 1848
May increase capital.
"
"
Apr. 1, 1856
May consolidate with other companies.
*ATLANTIC JUNCTION
Apr. 17, 1852
Act of incorporation.
"
"
Apr. 12, 1854
Amends act of incorporation.
ATLANTIC & Sr. LAWRENCE
Feb. 10, 1845
Act of incorporation.
"
"
June 17, 1846
Act additional to act of incorporation.
"
"
Aug. 1, 1848
Portland may issue scrip to aid Company.
"
"
June 12, 1950
May increase share capital.
"
06
July 27, 1850
Portland may grant further aid to company.
$6
"
June 2, 1851
Comm'ers authorized to invest Sinking Fund.
"
"
Feb. 13, 1852
Portland may aid in constructing road.
"
"
Mch. 5, 1853
May contract for steamships to Liverpool.
"
"
Feb. 5, 1853
1
Portland may grant further aid.
6
"
Mch. 20, 1853
Authorizes company to lease road.
"
"
Feb. 17, 1853
Respecting conveyance of road.
"
"
Sep. 28, 1853
May convert shares into sterling.
*AROOSTOOK
Apr. 10, 1854
Act of incorporation.
"
Mch. 27, 1858
Act of incorporation.
6.
Apr. 4, 1859
Act in aid of company
"
Apr. 4, 1859
Bangor may aid company.
"
Apr. 4, 1859
Authorizes publication of act for aid
*Amoostook & Sr. ANDREW'S BRANCH
Mch. 15, 1859
Act of incorporation.
BANGOR & OLDTOWN
Mch. 8, 1832
Act of incorporation.
"
6.
Mch. 15, 1836
May construct branch across Penobscot River.
"
"
Mch. 14, 1855
Name changed to Bangor, Oldtown & Milford.
BANGOR, OLDTOWN & MILFORD
Mch. 14, 1855
Name changed from Bangor and Oldtown.
"
"
"
Apr. 15, 1857
Authorized to extend road.
"
"
"
Mch. 24, 1858
Authorized to extend road.
BANCOR & ORONO
Aug. 2, 1847
Act of incorporation.
"
"
Aug. 21, 1850
Name changed to Penobscot, and authorized
to construct road to Oldtown.
"
"
Mar. 14, 1855
Authorized to change location of road.
BANGOR & PISCATAQUIS
Feb. 8, 1833
Act of incorporation.
"
"
Mch. 16, 1846
May extend road to Milford.
"
"
Mch. 24, 1845
Exempts Co. from operation of sec. 6 of act re-
lating to railroad, passed March 7, 1842.
"
"
July 31, 1847
May extend road to Milford and Bradley.
.6
"
Mch. 14, 1855
Name changed to Bangor, Oldtown & Milford.
"BARING & BoG BROOK
Mch. 29, 1837
Act of incorporation.
*BASS HAUSOR MINE
Mch. 13, 1857
Act of incorporation.
*BATH & PORTLAND
Feb. 28, 1844
Act of incorporation
6
"
Feb. 28, 1845
Alters act of incorporation.
"BELFAST & QUEBEC
Mch. 9, 1836
Act of incorporation
"
"
Feb. 25, 1839
Extends time for completion of road, etc.
"
"
Mch. 5, 1845
Extends time for completion of road, etc.
*BELFAST MARINE
June 28. 1850
Act of incorporation.
"BELFAST & MOOSEHEAD LAKE
Mch. 31, 1853
Act of incorporation.
"BELFAST & WATERVILLE
July 29, 1848
Act of incorporation.
34
Digitized by Google
MAINE-RAILROAD LAWS.
35
Corporate Titles.
Date.
Abstract of Laws.
"BELFAST & WATERVILLE
Sep. 27, 1853
Time extended for locating road.
*BOOTHBAY MARINE
Apr. 11, 1857
Act of incorporation.
*BRUNSWICK
Mch. 24, 1835
Act of incorporation.
BUCKFIELD BRANCH
July 22, 1847
Act of incorporation.
"
"
Aug. 7, 1849
May increase capital.
"
"
Aug. 29, 1850
Number of directors limited.
"
"
Mch. 27, 1852
Time for redemption of land extended.
"
"
Apr. 24, 1852
Repeals act of March 27.
CALAIS
Feb 17, 1832
Act of incorporation.
"
Mch. 10, 1835
Extends time for completion.
"
Mch. 25, 1657
May extend road to Milltown.
"
Feb. 22, 1838
Extends time for completion, etc.
:
July 26, 1849
Changes name to Calais and Baring."
CALAIS & BARING
Mch. 20, 1837
Act of incorporation.
"
"
Feb. 25, 1839
Extends time for completing road.
46
"
Aug. 13, 1852
Supplement to act of incorporation.
"
"
Mch. 8, 1855
May unite with Lewy's Island Railroad Co.
"CAPE ELIZABETH WHARF & MARINE.
Aug. 16, 1850
Act of incorporation.
*COBBOOSSEE
Mch. 27, 1854
Act of incorporation.
*DAMARISCOTTA
Aug. 7, 1850
Act of incorporation.
*DEXTER & NEWPORT
Mch. 30, 1853
Act of incorporation
EUROPEAN & NORTH AMERICAN
Aug. 20, 1850
Act of incorporation.
"
"
Aug. 20, 1850
Authorizes survey.
"
"
Aug. 27, 1850
Authorizes increase of share capital.
66
"
Aug. 28, 1850
Asks for Federal aid for road.
"
"
Mch. 27, 1852
Resolution inviting aid from United States
"
"
Mch. 29, 1853
Provides for certain railroad connections.
"
"
Feb. 20, 1856
Time for commencing road extended.
"FRANKLIN & KENNEBEC
July 31, 1847
Act of incorporation.
"
"
July 22, 1848
Amends act of incorporation.
"
"
Apr. 22, 1852
Time for locating road extended.
"FRANKFORT, BANGOR & BELFAST
Mch. 22, 1836
Act of incorporation.
"
"
as
Mch. 12, 1839
Extends time for completion of road.
GREAT FALLS & CONWAY
Mch. 4, 1852
Authorized to cross the river into Maine.
GREAT FALLS & S. BERWICK BRANCH
Mch. 31, 1841
Act of incorporation.
"
as
"
"
June 8, 1848
Revives act of incorporation, etc.
"
"
"
"
June 15, 1848
May unite with Great Falls and Conway RR
"
"
6.
"
Aug. 10, 1848
May extend road to the New Hampshire line
64
"
"
"
June 3, 1851
Time for completion of road extended.
"
"
"
"
Sep. 23, 1853
Time for filing location extended.
HALLOWELL GRANITE
Apr. 1, 1836
Act of incorporation,
*HANCOCK & PENOBSCOT
Mch. 1, 1836
Act of incorporation.
*HERRING GuT MARINE
Mch. 1, 1856
Act of incorporation.
"JONESPORT MARINE
Mch. 30, 1857
Act of incorporation.
"JONESBOROUGH & WHITNEYVILLE
Mch. 6, 1836
Act of incorporation.
"
"
Mch. 23, 1838
Amends act of incorporation.
"KENNEBUNKPORT GRANITE
Mch. 9, 1836
Act of incorporation.
KENNEBEC & PORTLAND
Apr. 1, 1836
Act of incorporation.
"
"
Apr. 9, 1841
Extends time to locate and construct.
"
"
Mch. 31, 1845
Act additional to act of incorporation.
"
"
July 16, 1846
May construct a branch to Bath.
"
"
June 7, 1848
May increase capital.
"
"
Aug. 30, 1850
Certain cities and towns may grant aid.
"
"
June 3, 1851
Relating to directors.
u
"
Mch. 30, 1853
Comm'ers authorized to invest sinking fund.
"
"
Apr. 14, 1857
Supplement to act of incorporation.
KENNEBEC & WISCASSET
Apr. 15, 1854
Act of incorporation.
"
is
Mch. 16, 1855
Authorizes extension of road.
"
"
Mch. 16, 1855
Wiscasset may aid the company.
"KIRKLAND CANAL & RR
Meh. 29, 1836
Act of incorporation.
*LAKE SEBAGO
Mch. 16, 1855
Act of incorporation.
44
"
Mch. 12, 1856
Supplement to act of incorporation.
LEWY'S ISLAND
Mch. 16, 1855
Act of incorporation.
"
"
Apr. 14, 1854
Calais may aid in constructing.
"
"
Jan. 24, 1855
May change location.
44
"
Jan. 29, 1855
Relative to aid by Calais.
"
4:
Feb. 14, 1855
Explanatory of act of April 14, 1854.
"
"
Mch. 8, 1855
Authorized to unite with Calais & Baring Co.
Digitized by
Google
36
MAINE-RAILROAD LAWS.
Corporate Titles.
Date.
Abstract of Laws.
*LEWISTON & TOPSHAM
Aug. 10, 1848
Act of incorporation.
MACHIASPORT
Feb. 28, 1845
Name changed from Palmer and Machiasport.
*MACHIASPORT MARINE
Mch. 30, 1836
Act of incorporation.
MAINE, New HAMPSHIRE & MASS
Mch. 12, 1839
Act of incorporation.
"
"
"
Apr. 2, 1841
Act additional to act of incorporation.
"
"
"
Mch. 22, 1843
Act additional to act of incorporation.
11
"
"
Feb. 29, 1844
May unite with the Boston and Maine.
"
"
"
July 16, 1846
Act addition to the union act.
:
"
"
Mch. 30, 1857
Act to unite with Boston and Maine Extension.
"MATTANAWCOOK
Mch. 28, 1838
Act to incorporate.
*MOOSEHEAD LAKE
July 28, 1847
Act to incorporate.
*NORTH MARINE WHARF
Feb. 26, 1856
Act of incorporation.
*OLDTOWN & LINCOLN
Mch. 8, 1852
Act of incorporation.
"
"
Sep. 27, 1853
Amends act of incorporation.
"
"
Mch. 18, 1854
Bangor may aid company.
"
"
Mch. 13, 1856
Supplementary to act of 1854.
*ORRINGTON CANAL & RR
Mch. 8, 1834
Act to incorporate.
*PACIFIC
June 14. 1847
Relating to a railroad to the Pacific Coast.
*PALMER & MACHIASPORT
Mch. 3, 1842
Act to incorporate.
"
"
Feb. 28, 1845
Changes name to Machiasport Railroad Co.
PENOBSCOT
Apr. 7, 1845
Act of incorporation.
*PENOBSCOT RIVER
Mch. 15, 1836
Act of incorporation.
"
"
Mch. 17, 1837
Act additional to act of incorporation.
"
"
Mch. 6, 1838
Act additional to act of incorporation.
"
"
Feb. 20, 1839
Act additional to act of incorporation.
"
"
Mch. 5, 1841
Act additional to act of incorporation.
PENOBSCOT & KENNEBEC
Apr. 6, 1845
Act of incorporation.
"
"
Aug. 13, 1849
Act of incorporation.
of
"
Aug. 15, 1849
Changesname Penobscot, Lincoln & Kennebee
"
"
June 3, 1851
Time for construction extended.
"
"
Mch. 1, 1854
Bangor may aid in constructing.
"
"
Feb. 12, 1855
Bangor may extend further aid.
"
"
Mch. 1, 1855
Bangor may lend its credit in aid.
"
"
Apr. 1, 1856
May consolidate with other companies.
"PENOBSCOT, LINCOLN & KENNEBEC.
Feb. 20, 1856
Time extended for constructing.
*PORTLAND MINING
Feb. 11, 1834
Act of incorporation.
"
"
Feb. 21, 1836
May increase capital.
*PORTLAND MARINE
July 15, 1850
Authorized to construct dry dock.
*PORTLAND UNION
Mch. 13, 1857
Act of incorporation.
*PORTLAND & CAPE ELIZABETH COAL
Feb. 11, 1834
Act of incorporation.
"
"
"
Feb. 18, 1835 Act in addition to act of incorporation.
PORTLAND & OXFORD
Feb. 17, 1841)
Act of incorporation.
"
"
Feb. 15, 1844
Extends time for survey and completion.
PORTLAND & OXFORD CENTRAL
Apr. 15, 1857
Act of incorporation.
PORTLAND, SACO & PORTSMOUTH
Mch. 14, 1837
Act of incorporation.
"
"
"
Feb. 14, 1840
Extends time for location, etc.
"
"
"
Feb. 17, 1841
May connect with Eastern Railroad of Mass.
"
"
"
Aug. 3, 1848
May increase capital.
"READFIELD, WINTHROP & COBBOSSEE
CONTEE CANAL & RR.
Mch. 18, 1836
Act of incorporation.
*ROCKLAND MARINE
Mch. 23, 1854
Act of incorporation.
*SACO RIVER
Mch. 7, 1853
Act of incorporation.
SOMERSET & KENNEBEC
Aug. 10, 1848
Act of incorporation.
"
"
Apr. 5, 1852
Amends act of incorporation.
"
"
Feb. 5, 1853
Awends act of incorporation.
*SOUTH THOMASTON
Aug. 3, 1848
Act to incorporate.
Sr. GEORGE MARINE
Mch. 2, 1852
Act of incorporation.
*UNION RIVER CANAL & RR
Mch. 8, 1834
Act to incorporate.
*UNION RIVER
July 29, 1846
Act to incorporate.
"VASSALBORO' & CHINA
Mch. 30, 1853
Act of incorporation.
*WATERVILLE & FAIRFIELD
Mch. 24, 1835
Act to incorporate.
YORK & CUMBERLAND
July 30, 1846
Act of incorporation.
"
"
June 21, 1848
Act in addition to act of incorporation.
"
"
July 26, 1850
Capital may be increased.
"
"
Feb. 23, 1852
Time extended for completion.
"
"
Mch. 30, 1852
Authorised to extend road.
"
"
Mch. 31, 1853
Authorized to extend road.
"
"
Mch. 14, 1859
Time extended for completion.
Digitized by Google
STATE OF NEW HAMPSHIRE.
ASHUELOT.
GREAT FALLS AND CONWAY.
ATLANTIC AND Sr. LAWRENCE.
MANCHESTER AND LAWRENCE.
BOSTON, CONCORD AND MONTREAL.
MERRIMAC AND CONNECTICUT RIVERS.
BOSTON AND MAINE.
NASHUA AND LOWELL.
CHESHIRE.
NEW HAMPSHIRE CENTRAL.
COCHECHO.
NORTHERN.
CONCORD.
PETERBORO' AND SHIRLEY.
CONCORD AND CLAREMONT.
SULLIVAN.
CONCORD AND PORTSMOUTH.
WHITE MOUNTAINS.
CONTOOCOOK RIVER.
WILTON.
EASTERN.
WORCESTER AND NASHUA.
The first railroad constructed within the State of New Hampshire was
the Nashua and Lowell, which was commenced in 1837, and completed on
the 23d December, 1838, three years after the completion of the Boston and
Lowell Railroad.
The second road constructed was the Eastern, which was commenced
in 1839 and completed in December, 1840.
The third road constructed was the Boston and Maine-the section of
which in New Hampshire was opened in 1840.
As the greater portion of the three lines above named lies in the State of
Massachusetts, a description of them is embraced in that of the roads of
that State.
The fourth road constructed, and the first having its route entirely within
the State, was the Concord, which was commenced in 1841, and completed
in 1842. It was the natural prolongation of the Boston and Lowell and the
Nashua and Lowell; was built entirely by stock subscriptions, and has been
an uniformly productive work.
The fifth road constructed was the Northern, which was commenced in
1845, and completed in November, 1847. The Bristol Branch, now a part
of this road, was commenced in 1847, and completed in 1848. This road
has been only moderately successful, having returned to its stockholders
dividends averaging 2.7 annually.
The sixth road constructed was the Cheshire, which was commenced in
1845 and completed in 1848. It is an expensive work, and has paid the
stockholders dividends averaging only 1.3 per cent. annually.
The seventh road constructed was the Sullivan, commenced in 1847 and
completed in the latter part of 1849. This road has proved almost entirely
37
Digitized by
Google
38
STATE OF NEW HAMPSHIRE.
unproductive, paying nothing on its share capital, and for many years past
no portion of the interest on its debts.
The eighth road constructed was the Manchester and Lawrence, which
was commenced in 1848, and completed early in 1850. This road is now
run in connection with the Concord Railroad. It has been a successful work,
and has paid its stockholders dividends averaging very nearly 6 per cent.
In 1848 that portion of the Worcester and Nashua Railroad lying in the
State of New Hampshire was opened, and 29 miles of the Boston, Concord
and Montreal Railroad.
In 1849 portions of several lines were opened, viz. the Concord and
Claremont, from Concord to Contoocookville, 10 miles; the Concord and
Portsmouth, from Portsmouth to Epping, 17 miles; the Boston, Concord
and Montreal, from Lake Village to Plymouth, 22 miles; the Cochecho, from
Dover to Farmington, 18 miles, and the Contoocook Valley, from Contoocook-
ville to Hillsboro', 141 miles. Of these roads only the Boston, Concord and
Montreal, and the Cochecho, (and this not uniformly,) have been able to pay
the interest on their funded debts. The Concord and Claremont, (subse-
quently merged in the Merrimac and Connecticut Rivers); the Contoocook
Valley and the Portsmouth and Concord have all passed out of the control
of their original stockholders, and now belong to new companies.
In 1850 the progress of railroads in the State was as follows: the Ports-
mouth and Concord was extended to Reymond, 6 miles; the Concord and
Claremont to Bradford, 17 miles; the New Hampshire Central was con-
structed from Manchester to Henniker, 26 miles; the Great Falls, from
Great Falls to Milton, 12 miles; the Peterboro' and Shirley, from the
State line to Mason, 9 miles; the Wilton, from Nashua to Milford, 111 miles.
Of these roads the New Hampshire Central, and the Peterboro' have passed
out of the hands of their stockholders. The latter has proved entirely
unproductive. The New Hampshire Central has been merged in the
Merrimac and Connecticut Rivers Railroad. The Great Falls and Conway
has paid the interest on its debts, but nothing to its stockholders.
In 1851 the Boston, Concord and Montreal Railroad was extended from
Plymouth to Warren, 20 miles; the Cochecho, from Farmington to Alton
Bay, 10 miles, and the Atlantic and St. Lawrence, from the boundary line
to Gorham, a distance of 10 miles. The Ashuelot was opened 1st Jan., 1851.
In 1852, the Concord and Portsmouth Railroad was extended to Concord,
a distance of 23 miles, and the Atlantic and St. Lawrence to the Vermont
State line, a distance of 33 miles.
In 1853, the White Mountains Railroad, 21 miles long, was opened, and
the Boston, Concord and Montreal Railroad extended to Wells River,
its present terminus, 221 miles.
In 1854, the Great Falls and Conway Railroad was extended to Milton
Village, a distance of 71 miles.
Digitized by
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STATE OF NEW HAMPSHIRE.
39
The total amount of share capital and debts of all the railroad companies,
the roads of which are entirely within the State, is $17,302,650, viz. : Share
capital, $12,211,480 : funded debts, $4,108,380 ; floating debts, $982,790.
Of the share capital $8,406,543 is more or less productive. In this sum is
embraced the share capital of the Ashuelot Company, on which 6 per cent.
has been paid under the lease, although nothing has been divided ; also the
share capital of the Concord and Portsmouth Railroad and White Mountains
Railroad. The capital of both of these were greatly reduced under the
re-organizations. On the funded and floating debts interest at the rate of
six per cent. is paid on $3,446,772, embracing the debts of the Cochecho
road, the interest on which has not always been regularly paid, and upon
$1,644,398 interest is not paid.
STATEMENT, showing the share Capital and Debt of the several Railroads of the State of
New Hampshire, with the amount of productive, and unproductive capital in each :
Corporate Titles
Share Capital
Funded
Floating
Funded and Fl. Debt.-
of Companies.
Total. Product'e. Unprod.
Debt.
Debt.
Total. Produc'e. Unprod.
Ashuelot
$246,018
$246,018
$150,000
3
$150,000
$150,000
$
Boston, Con. & Montr'l
1,800,000
1,800,000
1,050,000
47,100
1,097,100
1,097,100
Cheshire
2,085,925 2,085,925
738,200
84,327
822,527
822,527
Cochecho
399,146
399,146
420,853
420,853
420,853
Concord
1,500,000 1,500,000
Concord & Portsmouth
230,000
230,000
Contoocook River
200,000
200,000
Great Falls & Conway
166,748
166,748
209,927
42,019
251;946
251,946
Manchester & Lawr'ce
865,200
865,200
33,800
106,847
140,647
140,647
Merrimac & Conn. R.
595,587
595,587
383,400
303,517
686,917
233.400
453,517
Northern
3,068,400
3,068,400
299,500
25,799
325,299
325,299
Peterboro' & Shirley.
143,456
143,456
67,700
110,665
178,365
178,365
Sullivan
500,000
500,000
750,000
262,516
1,012,516
1,012,516
White Mountains
200,000 200,000
Wilton
211,000
211,000
5,000
5,000
5,000
Total
12,211,480 8,406,543 3,804,937 4,108,380 982,790 5,091,170 3,446,772 1,644,398
The total earnings of all the railroads of the State, from the date of the
opening of the first road have been $18,474,435. Of this sum, $7,120,605
have been received from passengers; $10,550,334 for transportion of freight,
and $803,496 for the transportation of mails and from miscellaneous sources,
The current expenses in the meantime have been $10,456,549; net earnings,
$8,017,886. The amount paid in dividends has been $3,623,989.
The rate of gross earnings upon the total investment has been a very little
over 10 per cent. ; the net earnings have been 4.74 per cent. The dividends
have been equal to very nearly 2.8 per cent. on the share capital of all the
roads. The result would have been a little less favorable had not the liabilities
of several companies been largely reduced in their re-organizations.
With exception of the Wilton, the only roads that have proved in any
degree remunerative to their stockholders, are those forming parts of leading,
or trunk lines. The only profitable roads are those following up the valley
of the Merrimac as far as Concord. The local roads, penetrating agricul-
tural districts, have, without exception, proved unremunerative, as have
nearly all the roads in other portions of New England, similarly situated.
Digitized by
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40
RAILROADS IN THE STATE OF NEW HAMPSHIRE.
STATEMENT showing the Share Capital, Indebtedness, Cost, Mileage, Receipts for transportation of Passengers, Receipts for transportation
of Freight, Receipts for transportation of Mails, Operating Expenses, Net Earnings, and Dividends paid by the Railroad
Companies of the State of New Hampshire, for each year since the opening of the Concord Railroad:
Capital
-Indebtedness-
Total
Mile-
Receipts
Operating Earnings Divi-
Year.
paid in.
Funded.
Floating.
Liabilities.
Cost.
age.
Pass'r.
Freight.
Mails, etc.
Total.
expenses.
less exp.
dend.
Year.
1842-43.
$725,000
$725,000
$725,000
34.53
$48,035
$21,808
$1,069
$70,912
$27,184
$43,728
$36,252
1842-43
1843-44.
742,500
742,500
742,500
34.53
72,799
65,421
860
139,080
65,167
73,913
66,315
1843-44
1844-45-
750,000
750,000
750,000
34.53
90,545
90,099
1,198
181,842
82,929
98,913
97,500 1844-45
1845-46-
800,000
800,000
800,000
34.53
109,971
115,469
3,039
228,479
135,055
93,424
80,000
1845-46
1846-47.
2,499,967
2,499,967
2,499,967
103.43
137,758
160,747
33,408
331,913
183,663
148,250
110,000 1846-47
1847-48.
4,826.738
406,650
11,112
5,244,500
5,244,500
151.03
238,907
199,602
57,771
496,280
233,075
263,205
263,285 1847-48
1848-49-
6,011,805
788,876
449,897
7,250,578
7,134,011
204.12
337,431
439,061
28,481
804,973
379,379
425,594
267,326 1848-49
I849-50.
8,849,312
1,070,950
1,862,104
11,782,366
11,710,444
376.08
486,331
546,614
67,849
1,100,794
589,152
511,642
289,114 1849-50
1850-51
10,591,632
2,882,163
1,565,662
14,939,457
14,635,915
415.13
537,901
590,318
95,785
1,224,004
640,563
583,441
263,575 1850-51
1851-52.
10,873,375
2,859,531
1,564,201
15.297,107
15,116,217
472.03
659,418
683,791
27,548
1,370,757
714,644
656,113
426,180 1851-52
1852-53.
11,289,995
3,399,176
2,049,987
16,739,158
16,668,075
546.87
673,474
872,479
58,318
1,604,271
897,609
706,662
341,349 1852-53
1853-54-
11,941,299
3,822,711
1,726,115
17,490,125
16,929,897
546.87
692,277
1,167,311
60,768
1,920,356
1,083,731
836,625
243,350 1853-54
1854-55-
12,113,988
4,169,338
1,678,222
17,961,548
17,382,622
546.87
723,374
1,285,098
67,441
2,075,913
1,191,550
884,363
159,705 1854-55
1855-56.
12,329,468
4,417,215
1,446,249
18.192,932
17,910,093
546.87
682,129
1,258,890
71,540
2,012,559
1,303,094
709,465
157,641 1855-56
STATE OF NEW HAMPSHIRE.
1856-57-
12,482,318
4,326,119
1,378,242
18,186,679
18.240,024
546.87
592,270
978,788
72,103
1,643,161
1,023,616
619,545
207,128 1856-57
1857-58.
12,042,835
4,208,975
1,335,385
17,587,195
17,557,231
546.87
528,624
1,006,596
67,763
1,602,983
953,519
649,464
294,187
1857-58
1858-59-
12,211,480
4,108,380
982,790
17,302,650
17,626,653
546.87
509,361
1,068,242
89,555
1,667,158
952,619
714,539
323,082
1858-59
17
Yrs
131,081,712
36,460,084
16,049,966
183,591,762
181,673,149
5,688,03
7,120,605
10,550,334
803,496
18,474,435
10,456,549
8,017,886
3,623,989
17
Yrs.
Digitized by
Average
7,710,689
2,144,711
944,116
10,799,516
10,686,656
334.59
418,860
620,608
47,264
1,086,731
615,091
471,640
213,176 Average.
The above represents only the railroads wholly within the State: the Atlantic and St. Lawrence being included in the Railroads of Maine, and the Boston
Google
and Maine, the Eastern, the Nashua and Lowell, and the Worcester and Nashua railroads in those of to Massachusetts. These have an aggregate length of
110 miles. From the statement should be deducted 101 miles, being the Massachusetts section of the Cheshire Railroad, which is included in it.
RAILROADS OF THE STATE IN DETAIL.
ASHUELOT RAILROAD.
(Financial year closing 11th May, 1859.)
OFFICERS, 1859-60.
JOHN H. FULLER, President
Keene, N.H.
J. HENRY ELLIOTT, Treasurer
"
"
W. B. BRINSMADE, Superintendent
Springfield, Mass.
PRINCIPAL OFFICE
KEENE, Cheshire Co., N.H.
LENGTH OF RoAD-Keene, N.H., to South Vernon, Vt.
23.76 miles.
Length of sidings and other track
1.57 "
The Ashuslot Railroad Company was chartered under several acts of the
Legislature of New Hampshire, approved, respectively, on the 27th Dec.,
1844; the 10th July, 1846, and the 21st and 23d June, 1848. In the latter
part of 1849 the construction of the road was commenced, and on the 1st
Jan., 1851, it was opened for public use. On the 7th Dec., 1849, the Com-
pany leased the road to the Connecticut River Railroad Company for a term
of 10 years, from the date of its completion, at 7 per cent. on its cost, with
privilege in favor of lessees of renewal for a second term, at 8 per cent. the
Connecticut River Company to keep the road in good repair. The amount
of the annual rent was subsequently fixed at $30,000, which has been regu-
larly paid by the lessees. The rent has been used solely for the payment of
bonds and floating debt, and interest. Up to the 11th May, 1859, the
Company had redeemed $109,982 of its debentures, and had on hand $33,000
surplus income. This amount and such other sums as may accrue to the
Company under the lease have been appropriated to the final payment of its
funded debt, now amounting to $150,000, and which, it is assumed, may be
purchased at one half of its nominal value. It is not supposed that the lease
will be renewed, as the earnings have not probably much exceeded the ope-
rating expenses.
SHARE CAPITAL-Authorized, $500,000, in 5,000 $100 shares.
Paid in, $246,018
FUNDED DEBT-$150,000: 1st mortgage, 6 per cent. bonds, dated 1st Jan., 1851,
and payable, principal in 10 years, and coupons semi-annually, 1st Jam.
and 1st June. The Company has no floating debt.
CosT OF CONSTRUCTION, ETC.-$506,000: in detail as follows:
Land, land-damages and fences
$40,584
Superstructure, including iron
176,805
Graduation
161,530
Stations, buildings and fixtures
14,404
Masonry and bridges
95,224
Engineering and other expenses
17,454
GENERAL LEDGER BALANCE SHEET, 11TH May, 1859.
Dr.
Cr.
Construction Account
$506,000
2,451 full paid Shares
$245,100
Profit and loss
33,000
Part paid shares
918
1st Mortgage Bonds
150,000
Indebtedness paid from income
109,982
Surplus income
33,000
Total
$539,000
Total
$539,000
6
41
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42
NEW HAMPSHIRE-ATLANTIC AND ST. LAWRENCE.
ATLANTIC AND ST. LAWRENCE RAILROAD.
The Atlantic and St. Lawrence Railroad Company within New Hampshire
was chartered by the Legislature of the State by an act passed on the 30th
June, 1847, and was authorized to construct an extension of its road from
the west boundary of Maine to the east boundary of Vermont; and was de-
clared to possess all the powers delegated to it under the act of the Maine
Legislature, passed on the 10th Feb., 1845, subject, however, to all the liabil-
ities, obligations and duties which are or may be imposed on other railroad
corporations in New Hampshire. The length of the road within this State
is about 52 miles, and was wholly built by the Maine Company. No sepa-
rate accounts are kept.-See Atlantic and St. Lawrence Railroad, Maine.
BOSTON AND MAINE RAILROAD.
The Boston and Maine Railroad Company within New Hampshire was char-
tered by several acts of the Legislature of this State, dated, respectively, 27th
June, 1835; 28th June, 1838; 2d July, 1841, and 2d July, 1845. By the
act of 1841, the Company was authorized to consolidate with the Boston and
Portland Company of Massachusetts, and the Maine, New Hampshire and
Massachusetts Company of Maine. The act of 1845 authorized the Consol-
idated Company to unite with the Boston and Maine Extension Company of
Massachusetts. Under these acts, and similar acts by the Legislatures of
Maine and Massachusetts, the whole line from Boston to South Berwick
became the property of a single company under the present title.-See Boston
and Maine Railroad, Massachusetts.
BOSTON, CONCORD AND MONTREAL RAILROAD.
(Financial year ending 31st March, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
John T. Coffin
Plymouth, N.H.
Joseph P. Pitman
Laconia, N. H.
John E. Lyon
Boston, Mass.
Alexander H. Tilton
Sanbornton, "
Holmes Hinckly
"
"
John L. Rix
Haverhill, "
JOSIAH QUINCY, President
Rumney, N. H.
GEORGE MINOT, Treasurer
Concord, "
JOHN T. COFFIN, Superintendent
Plymouth, "
PRINCIPAL OFFICE
CONCORD, Merrimac Co., N. H.
LENGTH OF RoAD-Concord to Wells River
93.54 miles.
Length of sidings, etc., 5.50 miles.
Road under lease-White Mountains Railroad
20.85 "
Total length of road operated
114,39 miles.
ROLLING STocK-Locomotive Engines
14
Cars :-Passenger, 10; merchandise, etc., 232
242
The Boston, Concord and Montreal Railroad Company was chartered on the
27th of Dec., 1844. Its construction was commenced in 1846. The different
portions of it were opened as follows :-From Concord to Sanbornton, 18
iniles, in May, 1848; to Lake Village, 11 miles, in Oct. of the same year; to
Meredith Bridge, 8 miles, in March, 1849; to Plymouth, 14 miles, at the close
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NEW HAMPSHIRE-BOSTON CONCORD AND MONTREAL.
43
of 1849; to Warren, 20 miles, in Feb., 1851, and to Wells River, Vermont,
221 miles, in May, 1853.
On the 1st day of Feb., 1859, this Company took a lease of the White
Mountains Railroad for a period of five years, at an annual rental of $10,000,
payable monthly, undertaking to maintain and operate the road for the period
named.
The Company having a floating debt exceeding $200,000, for which sev-
eral of the directors had rendered themselves liable by reason of endorse-
ments and advances, the Company on the 9th of Jan., 1857, made an assign-
ment, for their benefit, of the road and its appurtenances to trustees. These
liabilities have since in a great measure been discharged, (by the Sinking
Fund Bonds,) and the road has again vested in stockholders.
SHARE CAPITAL-Authorized and paid, $1,800,000 : classified as follows—
Preferred Stock, 6 per cent., in $100 shares
$800,000
-authorized by a vote of the stockholders at their annual meeting in 1851,
to the amount of $600,000; and to the amount of $200,000, at a meeting
held 10th of Aug., 1854. The subscriptions to the $600,000, first authorized,
was payable, one-half in common stock, and one-half in cash. The sub-
scribers to the $200,000 were entitled to convert, for every share subscribed
and paid, four shares of New Stock, (which see.) Dividends on the Preferred
were paid up to March 31, 1855. It has precedence in dividends of the
New Stock.
New (Preferred) 6 per cent., in $100 shares
$540,400
-authorized by a vote of the stockholders on the 10th Aug., 1854, whereby
each person subscribing and paying for one share of New Preferred Stock,
was authorized to convert six shares of old into New Stock, and to have a
preference in dividends over the old. No dividends have been paid on the
New Preferred.
Old or Common Stock, in $100 shares
$416,600
-Previous to 1853 interest was allowed on the stock assessments, and paid
in scrip or stock.
Other classes of stock
$43,000
-viz.: interest dividends, $25,816; scrip, $15,222; stock assessments, $1,962
FUNDED Дввт-$1,050,000, classified as follows—
1st Mortgage, 6 per cent. bonds
$200,000
1st Mortgage, 7 per cent. bonds
$300,000
-dated 15th August, 1850, and payable, principal in 10 years, and coupons
semi-annually, 15th Feb. and 15th Aug.; the 6 per cents. at Boston, and the
7 per cents. at New York. Secured by mortgage on 71 miles of the road,
being the portion between Concord and Warren.
2d Mortgage, 6 per cent. coupon bonds
$100,000
2d Mortgage, 7 per cont. coupon bonds
$250,000
-dated 16th August, 1852, and payable, 1st Jan., 1870, and interest semi-
annually, 1st Jan. and 1st July; the 6 per cents. at Boston, and the 7 per
cents. at New York. Convertible into stock at any time previous to 1869.
These bonds, as a second mortgage, cover the whole road, and are a first
mortgage on that portion between Warren and Wells River, 221 miles.
The whole amount provided for was $850,000, of which $350,000, as above,
have been sold, and $500,000 are reserved to retire the 1st mortgage bonds
maturing in August, 1860.
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44
NEW HAMPSHIRE--BOSTON. CONCORD AND MONTREAL.
Sinking Fund, 6 per cent. mortgage coupon bonds
$200,000
-dated 1st Jan., 1857, and payable 1st Jan., 1889 ; coupons semi-annually,
1st Jan. and July, at Boston. The mortgage in this case provided for an
issue of bonds to the amount of $1,050,000, but no further issues can, by
law, be made, except upon the cancellation of an equal amount of 1st or 2d
Mortgage Bonds. The Sinking Fund for the redemption of these bonds
was created by the payment thereto of $12,500 on the issue of the $200,000,
and by future payments to an amount not exceeding $12,500 annually
the same to be invested in the bonds so long as the same can be done at 6
per cent. The amount of the Sinking Fund on the 31st of March, 1859,
was $26,500. Interest on all bonds has been regularly paid.
FLOATING DEBT-$47,100, bills payable.
COST OF ROAD AND EQUIPMENT-$2,863,584 : in detail as follows—
Graduation
$933,233
Depot furniture
$3,587
Engineering
46,122
Interest and discounts.
396,745
Masonry
212,446
General expenses of construction
165,811
Bridging
75,420
Water works
14,118
Land and land-damages, etc
87,175
Locomotive engines
113,800
Fencing
36,150
Freight cars
125,000
Superstructure
542,175
Passenger cars
25,000
Depots and buildings
70,151
Shop and road tools
19,650
INCOME ACCOUNT FOR THE YEAR ENDING 31sT MARCH, 1859.
Receipts-
Disbursements-
Gross passenger
$86,116
Maintenance of road
$44,577
Less paid other roads
21,878-$64,237
Maintenance of motive power.
25,522
Gross freight
190,512
Cost of working road
54,042
Less paid other roads
39,197-151,314
Cost of management
9,618
Income from mails
9,240
Miscellaneous expenses.
7,622
Income from express
2,083
Construction, cars, etc.
9,421
Miscellaneous
846
Surplus income
76,918
Total
$227,720
Total
$227,720
GENERAL LEDGER BALANCE
SHEET, 1st APRIL, 1859.
Cr.
Dr.
Share capital
$1,800,000
Roadway, etc
$2,580,136
Funded debt
1,050,000
Equipment.
283,450
Bills payable
47,100
Wood land, fuel and material
48,240
Coupons due
1,473
Trustees of Sinking Fund
26,500
Div. Interest and stock unclaimed
1,489
Div. Stock, not yet payable
28,135
Trustees of B. C. & M. RR. and }
others holding funds
20,911
Construction fund
36,919
Notes receivable and delinquent ac'ts
13,995
Profit and loss
48,065
Stocks and bonds (B. C.& M.)on hand
25,484
Stock and bonds of other companies.
17,167
Total
$3,015,881
Total
$3,015,881
COST, EARNINGS, EXPENSES, ETC., YEARLY.
Cost of
Miles
Gross Earnings
Operating
Net
Year.
Road, &c.
of road.
Pass'r.
Freight. Mails, &c.
Total.
expenses.
earnings.
Div.
1850
$1,282,945
51
$60,000
$58,805
$118,805
$62,159
$56,646
nil.
1851
1,347,445
51
52,136
44,191
3,676
100,003
54,719
45,254
"
1852
1,930,533
70
60,000
81,204
141,204
68,880
72,324
"
1853
2,540,217
70
60,538
90,000
150,538
70,879
79,659
"
1854
2,672,438
931
93,234
140,000
233,234
112,400
120,834
"
1855
2,771,310
931
100,496
178,548
16,239
295,283
154,331
140,952
"
1856
2,863,584
931
94,094
183,629
9,226
286,949
163,377
123,572
"
1857
2,863,584
931
89,446
167,344
6,321
263,111
155,740
107,371
"
1858
2,863,584
931
74,219
150,385
11,197
235,801
134,733
101,068
"
1859
2,863,584
931
64,238
151,314
12,268
227,720
150,803
76,917
"
$23,999,214
803
$748,401
$1,245,420
$58,927
$2,052,648
$1,128,051
$924,597
"
Aver'e,
2,399,921
803
74,840
124,542
5,892
205,264
112,805
92,459
"
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NEW HAMPSHIRE-CONCORD.
45
CONCORD RAILROAD.
(Financial year ending 31st March, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
Isaac Spaulding
Nashua, N. H.
Uriel Crocker
Boston, Mass.
Josiah Stickney
Boston, Mass.
Charles H. Peaslee
Concord, N. H.
Francis C. Manning
"
"
John S. Kidder
Manchester, "
N. G. Upham, President
Concord, N. H.
N.P. LOVERING, Treasurer
Boston, Mass.
J. A. GILMORE, Superintendent
Concord, N. H.
PRINCIPAL OFFICE
CONCORD, Merrimac Co., N.H.
LENGTH OF RoAD-Concord to Nashua
34.53 miles.
Second track, 34.53 miles ; sidings, etc., 9.50 miles
44.03
"
Total equivalent single track
78.56 "
ROLLING STocK-Locomotive engines
21
Cars :-Passenger, 22; freight, etc., 494
516
The Concord Railroad Company was chartered on the 27th June, 1835. The
construction of the road was commenced in 1841. It was opened for pub-
lic use from Nashua to Manchester on the the 1st July, 1842; to Hooksett
on the 26th of the same month, and to Concord on the 7th September fol-
lowing. The laying of a second track was commenced in 1846, and com-
pleted in 1848.
On the 24th of November, 1856, the Concord, and Manchester and
Lawrence Railroad Companies entered into a contract, to continue for
five years from 1st Dec., 1856, whereby the former undertook to operate and
maintain the road of the latter, and also the Methuen Branch, (extending
from the city of Lawrence to the boundary line of New Hampshire, leased to,
and forming a portion of the line of the Manchester and Lawrence, and
which lease was transferred to the Concord Company,) and to divide the net
profits of the entire business in proportion to their respective capitals, viz. :
that of the Concord Railroad Company being established at $1,500,000; the
Manchester and Lawrence, $1,000,000, and Methuen Branch, $110,000-in
all, $2,610,000. The length of the united line is 61 miles.
The Income Account of the joint line for the past year was as follows
Receipts-
Disbursements-
Passengers
$151,083
Repairs of engines and cars
$33,299
Freight
279,262
"
of road
51,211
Mails, rents
"
of building, etc.
14,616
Express, etc
29,314
Wood, oil and waste
50,603
General expenses
78,187
New engine
9,000
Rent of Methuen Branch
8,800
Proportion paid Concord Railroad
128,366
Proportion paid Man. & Law. Railroad. 85,577
Total
$459,659
Total
$459,659
The joint contingent fund amounts to $11,547, and the joint property on
hand to $69,115, viz. : wood, $21,316; oil and waste, $488; material for
road repairs, $19,329, and stock in repair shops, $27,982.
The net profits divided between the two companies for the two past years
have been as follows:
Net profits of the
Proportion to
Proportion to
Years.
joint line.
Concord RR.
Man. & Law.
1858
$160,112
$96,067
$64,045
1859
213,943
128,366
84,577
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NEW HAMPSHIRE-CONCORD.
The proportion due Methuen Branch is included in current expenses.
On the 11th of Sept., 1858, the Concord Railroad Company, with the con-
currence of the Manchester and Lawrence Railroad Company, took a lease
of the Concord and Portsmouth Railroad for a period of five years, agree-
ing to maintain and operate the same, and to pay an annual rental of $15,500;
also agreeing to expend the further sum of $2,500 annually in permanent re-
pairs. The receipts and expenditures under this lease, from its date to 31st
of March, 1859, have been as follows:
Receipts-
Disbursements-
From passengers
$8,681
For roadway
$4,888
Freight
13,428
Engine and cars
223
Mails, etc.
1,355
General management
5,579
Permanent repairs
5,021
Rent, 6 months
7,750
Total
$23,464
Total
$23,464
SHARE CAPITAL-Authorized (all paid in), $1,500,000, in 30,000 $50 shares.
FUNDED OR FLOATING DEBT-None.
GENERAL LEDGER BALANCE SHEET, 1ST APRIL, 1859.
Cr.
Dr.
Share capital
$1,500,000
Construction, etc.
$1,500,000
Surplus income
63,984
Vt. and Boston telegraph stock
2,350
Unpaid dividend
522
Notes receivable
215
Cash
6,778
Proportion of stock on hand due
from joint companies
55,163
Total
$1,564,506
Total
$1,564,506
COST, EARNINGS, EXPENSES, ETC., YEARLY.
Cost of
Miles.
Gross Earnings
Operating
Earng's,
-Dividend-
Year.
Road, &c.
of
Road.
Passen'r.
Freight.
Mails,etc.
Total.
expenses.
less exp.
p. c.
1843
$725,050
34.53*
$48,035
$21,803
$1,069
$70,912
$27,184
$43,728
$36,252
5
1844
742,223
34 53
72,799
65,421
860
139,080
65,167
73,913
66,315
9
1845
756,444
34.53
90,545
90,099
1,198
181,842
82,929
98,913
97,500
13
1846
779,581
34 53
109,971
115,469
3,039
228,479
135,055
93,424
80,000
10
1847
1,042,718
34.53
133,545
141,117
15,566
290,228
176,453
113,775
100,000
10
1848
1,350,000
34.53
138,907
159,603
12,726
311,236
180,698
130,538
120,000
10
1849
1,350,000
34.53
135,337
172,950
9,970
318,257
179,872
138,385
135,000
10
1850
1,386,788
34.53
127,892
158.642
10,374
296,908
148,934
147,974
133,650
9
1851
1,390,598
34 53
138,556
157,277
12,029
307,862
170,896
136,966
103,950
7
1852
1,398,347
34.53+
152,539
174,665
10,680
337,884
170,062
167,822
133,650
9
1853
1,409.097
34.53
113,336
181,107
9,983
304,426
177,472
126,954
118,800
8
1854
1,433,508
34.53
123,323
197,207
9,214
329,744
199,007
130,737
118,800
8
1855
1,477,776
34.53
126,871
217,512
7,650
352,033
245,689
106,344
105,000
7
1856
1,477,733
34,53
120,787
207,404
7,758
335,949
224,502
111,447
90,000
6
1857
1,500,000
34.33
114,982
194,650
7,418
317,050
201,299
115,751
90,000
6
1858
1,500,000
34.53t
95,484
154,785
10,692
260,961
157,966
102,995
90,000
6
1859
1,500,000
34 53
90,650
167,557
17,588
275,795
147,429
128,366
120,000
8
$21,219,863
587
1,933,559
2,577,273
147,814
4,658,646
2,690,614
1,968,032
1,738,917
Aver'e-
1,248,227
34.53
113,838
151,600
8,695
274,035
158,271
118.764
102,289
81.
The joint operations of the two companies have been as follows:
1858
2,610,000
61.03
159,141
257,973
17,821
434,935
263,276
171,659
"
"
1859
2,610,000
61.03
151,083
279,262
29,314
459,659
245,716
213,943
"
"
# Operations from 7th Sept, 1842, to 30th April, 1843 t Eleven months operations from 1st
May, 1851, to 31st March, 1852. 1 In 1858 and 1859, the Concord, and Manchester and Lawrence
roads were operated conjointly, the first sharing three-fifths and the latter two-fifths of the earnings
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NEW HAMPSHIRE-CONCORD AND CLAREMONT.
47
CONCORD AND CLAREMONT RAILROAD.
(Now a part of the Merrimac and Connecticut Rivers.)
LENGTH OF RoAD-Concord to Bradford
27.16 miles.
The Concord and Claremont Railroad Company was chartered on the 24th
June, 1848. The construction of the road was commenced on the 19th Nov.
of the same year. On the 27th August, 1849, it was opened for public use
to Contoocookville, 10 miles; on the 25th Sept. to Warner, 18 miles, and
from Warner to Bradford July 10th, 1850. On the 8th Jan., 1853, an act
was passed authorizing this Company and the New Hampshire Central Com-
pany to consolidate their interests, and form a new corporation, under the
title of "Merrimac and Connecticut Rivers Railroad Company," which act
was accepted by the stockholders of the Concord and Claremont Company
on the 12th April, 1853. The consolidation was formally consummated on
the 1st May of the same year.
The financial condition of the Concord and Claremont Company on the
30th April, 1853, was as follows:
GENERAL STATEMENT.
Dr.
Cr.
Share capital
$341,282
Cost of road
$496,737
Funded Debt
265,400
Cost of equipment
97,880
Floating Debt
91,894
Interest and discount
103,959
Total
$698,576
Total
$698,576
COST OF ROAD, EARNINGS, EXPENSES, ETC., YEARLY.
Mile-
Gross Earnings
Ex-
Net -Div-
Year.
Cost.
age.
Pass'ger.
Freight.
Mails.
Total.
penses.
earnings.
1850
$335,674
18.14
$10,119
$5,972
$522
$16,613
85,576
$11,137
nil.
1851
549,404
27.16
28,114
28,504
1,156
57,774
21,036
36,738
"
1852
641,406
27.16
16,929
22,461
6,968
46,358
22,083
24,174
"
1853
698,258
27.16
22,706
36,268
6,206
65,180
33,439
31,742
"
$2,224,742
99.5
77,868
$93,205
$14,852
$185,925
$82,134
$103,791
"
Average.
556,185
24
19,467
23,301
3,713
46,481
20,533
25,948
"
CONCORD AND PORTSMOUTH RAILROAD.
(Financial year ending 30th September, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
Charles Thompson
Boston, Mass.
I
S. Plumer Dow
New Market, N. H.
Josiah Stevens
Concord, "
Aaron H. Hill
Portsmouth, "
CHARLES L. FROST, President
New York City, N.Y.
THOMAS D. BAILEY, Treasurer
Portsmouth, N.H.
JOSEPH A. GILMORE, Superintendent
Concord, "
PRINCIPAL OFFICE
PORTSMOUTH, Rockingham Co., N.H.
LENGTH OF RoAD-Concord to Portsmouth
47 miles.
ROLLING STocK-Locomotive Engines
4
Cars :-Passenger, 4; merchandise, etc., 82
86
The Portsmouth and Concord Railroad Company was chartered on the 1st July,
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48
NEW HAMPSHIRE-CONCORD AND PORTSMOUTH.
1845, and by additional acts of the 10th July, 1846, and 23d June, 1848,
was authorized to construct branches to Hooksett and Manchester. Its con-
struction was commenced in the summer of 1847, and the road was opened
for public use from Portsmouth to Epping in December, 1849; to Raymond,
in September, 1850, and to Concord in August, 1852. On the 1st day of
June, 1855, the road was taken possession of by the trustees under the first
mortgage; and on the 1st of Sept., 1857, the road was sold on account of
the bondholders, who were authorized by law to become parties to the sale,
and to form a new company under the title of the Concord and Portsmouth
Railroad Company, with a capital stock of $250,000.
The financial condition of the Company previous to the sale of the prop-
erty in 1857 was as follows:
BALANCE SHEET, 1ST MAY, 1857.
Cr.
Dr.
Common Stock
$174,680
Construction
$1,023,488
Preferred Stock
211,700
Station buildings, etc,
15,635
Old Stock (surrendered)
134,191
Locomotives
20,977
Bonds due 1st July, 1861
347,600
Freight and gravel cars.
39,159
Bills payable, etc
110,534
Passenger and baggage cars
9,600
Due Concord Railroad
50,000
Amount from income
37,057
Miscellaneous
43,098
Total
:
$1,108,859
Total
$1,108,859
The capital of the new company is limited to $250,000. Of this sum only
$230,000 has been issued, which amount will not probably be increased, the
company having sufficient means to discharge its liabilities.
INCOME ACCOUNT FOR THE YEAR ENDING SEPT. 30, 1859.
Receipts-
Disbursemento-
Cash on hand
$8,102
Paid iron debt
$13,262
Rent of road
15,500
Paid other debts
7,171
Assessment on stock
45
Dividend 2f per cent
5,150
Materials sold
2,358
Cash balance
422
Total
$26,005
Total
$26,005
COST, EARNINGS, EXPENSES, ETC., YEARLY.
Cost of Road
Miles
Gross
Operating
Earnings,
Years.
and Equipment.
of Road.
Earnings.
Expenses.
less Exp's.
1850
$478,464
18
$3,132
$3,290
$ (loss.)
1851
743,494
23
12,373
12,705
(loss.)
1852
997,409
23
16,950
14,585
2,365
1853
1,054,646
47
44,744
28,650
17,094
1854
1,075,575
47
71,922
36,513
35,409
1855
1,099,490
47
86,447
60,422
26,025
In the hands of Truslees.
1856
1,108,859
17
80,651
62,320
18,331
1857
1 108,859
47
82,339
62,098
20,241
Under the New Corporation.
1858
228,900
47
58,488
39,126
19,362
Under lease to Concord Company.
1859
228,900
47
15,500
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NEW HAMPSHIRE-CONTOOCOOK RIVER.
49
CONTOOCOOK RIVER RAILROAD.
(Financial year ending 31st March, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
James Boyd
Antrim, N.H.
I
Thomas French
Concord, N.H.
John Aiken
Boston, Mass.
Robert N. Corning
"
"
MAT. HARVEY, President
Concord, N.H.
STEPHEN KENDRICK, Treasurer
Franklin, "
ONSLOW STEARNS, Agent
Concord, "
PRINCIPAL OFFICE
CONCORD, Merrimac Co., N.H
LENGTH OF RoAD-Contoocookville to Hillsboro'
14.64 miles.
No second track. Sidings, etc., 0.82 mile.
The Contoocook Valley Railroad Company was chartered on the 24th June,
1848; and the road was opened in December, 1849. It has been operated
by other companies under various leases and contracts. The Company fail-
ing to pay the interest on its bonds, the Legislature of the State passed an
act authorizing a sale of the road and franchises, which was made 1st Oct.,
1857, for $30,000, and a new company formed under the title of Contoocook
River Railroad Company, with a nominal capital of $200,000. The new
company commenced operations on the 1st Nov., 1857.
The financial condition of the Company at the date of the sale was as
follows:
GENERAL STATEMENT, 1ST OcT, 1857.
Cr.
Dr.
Share capital
$88,200
Land, land-damages, etc.
$10,648
Bonds, 1st Emission
7,200
Graduation and masonry
61,317
"
1st Mortgage
75,000
Bridges
5,126
"
2d Mortgage
60,000
Fences
2,669
Income
25,298
Superstructure
83,369
Sundries
1,371
Interest
56,100
General expenses.
37,840
Total
8257,069
Total
$257,069
INCOME ACCOUNT FOR THE YEAR ENDING 31sT MARCH, 1859.
Receipts-
Expenditures-
Passenger traffic
$4,801
Receipts of road, etc
$3,624
Freight traffic
10,440
Repairs of rolling stock
1,621
Mail service
627
Transportation expenses
9,829
Miscellaneous
735
Surplus income
1,529
Total
$16,603
Total
$16,603
COST, EARNINGS, EXPENSES, ETC., YEARLY.
Cost of
Miles
Gross Earnings
Operating
Earnings.
Year.
Road, &c.
of road.
Pass'r.
Freight. Mails, &c.
Total.
expenses.
over exp. Div.
1850
$147,416
14.64*
$1,278
$1,205
$2,483
$1,587
$896
nil.
1851
209,063
14 64
5,959
4,464
10,423
8,536
1,887
"
1852
222,452
14.64
8,111
7 986
16,097
15,076
1,021
"
1853
248,114
14.64
14,784
15,623
30,407
13,516
16,891
"
1854
258,863
14.64
9,043
10,777
1,061
20,861
11,969
8,892
"
1855
257,069
14.64
10,000
14,000
1,000
25,000
20,000
5,000
"
1856
257,069
14.64
9,636
21,925
1,325
32,887
32,488
399
"
1857
257,069
14.64
8,826
18,804
1,446
29,066
28,130
936
"
1858
257,069
14.64
6,037
12,248
854
19,139
31,288
(loss)t
"
1859
257,069
14.64
4,801
10,440
1,362
16,603
15,074
1,529
"
$2,371,253
146.3
$78,475
$117,472
$7,038
$202,986
$177,664
$25,322
"
Average
237,125
14.64
7,846
11,747
703
20,296
17,765
2,536
"
#
Four months' operations, Dec., 1849, to 1st April, 1850. t Loss, $12,129.
7
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50
NEW HAMPSHIRE-COCHECO.
COCHECO RAILROAD.
(Financial year ending 30th November, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
William Hill, Jr
Dover, N.H.
Joseph H. Smith
Dover, N.H.
George Mathewson
"
"
John McDuffie
Rochester, "
C. W. Woodman
"
"
Geo. M. Herring
Farmington, "
WILLIAM HILL, President
North Berwick, Me.
GEORGE WILLIAM BENN, Treasurer
Dover,
"
GEORGE C. Kimball, Superintendent
"
"
PRINCIPAL OFFICE
DOVER, Strafford Co., N.H.
LENGTH OF Road-Dover to Alton Bay
28.12 miles.
No second track ; sidings, etc., about 2.50 miles.
ROLLING STocK-Locomotive engines
4
Cars :-Passenger, 4; freight, etc., 26
30
The Cocheco Railroad Company was chartered on the 2d July, 1847. The
construction of the road was commenced in the summer of 1848, and the
section between Dover and Farmington was opened for public use on the
21st Sept., 1849, and between Farmington and Alton Bay, 101 miles, in
Sept., 1851.
SHARE CAPITAL-Authorized by charter, $500,000, in 10,000 $50 shares.
Paid in, $399,146, as follows—
Preferred, 8 per cent., in $100 shares
$177,750
-The Preferred Stock was authorized on the 15th Oct., 1850, to the amount
of $250,000, to bear 7 per cent. interest, until the earnings should be suffi-
cient to pay 6 per cent. on the whole stock, when both classes were to be
placed on an equality. On the 16th Oct., 1850, the stockholders voted that
the Preferred Stock should bear 8 per cent. interest till the road should earn
8 per cent. on the whole stock. No dividends have been paid on the Pre-
ferred Stock.
Common Stock
$221,297, in $100 shares.
FUNDED DEBT-$420,853: classified as follows—
1st Mortgage, 6 per cent. coupon bonds
$36,100
-dated 1st Oct., 1851; payable, principal 1st Oct., 1861 coupons semi-an-
nually, 1st April and 1st Oct., at the Company's office, Dover.
2d Mortgage, 6 per cents coupon bonds
$384,753
-dated 1st July, 1853; payable, principal 1st July, 1867; coupons semi-an-
nually, 1st Jan. and 1st July, at the Company's office, Dover, N.H. Provi-
sion was made under this mortgage for the issue of $450,000, of which
$200,000 were reserved to retire the 1st Mortgage Bonds at maturity. Of
these bonds, $163,900 have been retired by exchange for 2d Mort. Bonds.
The interest on the bonds was not fully paid the past year. Amount paid
iu 1859, $9,523; 1858, $22,899; 1857, $23,677.
COST OF ROAD AND EQUIPMENT-$847,007 in detail as follows-
Grading, masonry, and bridging
$290,598
Locomotives and cars
$60,735
Superstructure
194,762
Engineering
19,975
Stations, buildings, etc
32,346
Lands, land-damages, etc
61,946
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NEW HAMPSHIRE-CHESHIRE
51
INCOME ACCOUNT FOR THE YEAR ENDING Nov. 30, 1859.
Receipts-
Disbursements-
From passengers
$20,417
Station expenses
$4,792
Freight
27,794
Repairs of cars and engines
3,559
Car use
1,002
Repairs of track
8,905
Mail service
1,692
Train expenses
2,382
Miscellaneous
794
General expenses
9,743
Interest on bonds, etc
12,294
Balance to profit and loss.
10,024
Total
$51,699
Total
$51,699
GENERAL LEDGER BALANCE SHEET, 1ST Dec., 1859.
Cr.
Dr.
Capital Stock
$211,297
Construction
$825,200
Preferred Stock
177,750
Cash and bills receivable
13,810
Bonds 1851
36,100
Stock in steamer Dover
12,750
Bonds 1853
384,753
Land and land-damage
1,535
Bills Payable
13,070
Shops at Alton Bay
2,749
Profit and loss
35,294
Shop stock on hand, etc
2,220
Total
$858,264
Total
$858,264
COST, EARNINGS, EXPENSES, ETC., YEARLY.
Cost of
Miles
Gross Earnings
Operating Earnings, Div.
Year.
Road, &c.
of road.
Pass'r.
Freight.
Mails, &c.
Total.
expenses.
less exp.
1850
$421,715
17.50*
$10,603
$16,854
$1,433
$28,890
$19,121
$9,769
nil.
1851
661,623
28.12+
16,600
15,962
1,726
34,288
19,019
15,269
"
1852
758,161
28.12
16,159
16,312
1,757
34,228
21,349
12,879
"
1853
767,360
28.12
18,370
25,016
3,240
46,626
23,328
23,298
"
1854
784,724
28.12
20,870
28,106
3,135
52,111
25,628
26,483
"
1855
800,000
28.12
21,284
28,479
3,428
53,191
25,801
27,390
"
1856
820,175
28.12
20,416
28,023
3,580
52,019
24,475
27,544
"
1857
826,922
28.12
13,964
25,308
3,503
47,775
23,563
24,212
"
1858
852,892
28.12
17,232
23,199
4,278
44,709
27,646
17,063
"
1859
854.767
28.12
20,417
27,794
3,487
51,698
29,832
21,866
"
$7,548,339
270.58
$180,915
$235,053
$29,567
$445,535
$239,762
$205,773
"
Average, 754,833
27.
18,091
23,505
2,956
44,553
23,976
20,577
"
CHESHIRE RAILROAD.
Financial year ending 30th November, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
Thomas M. Edwards
Keene, N.H.
George Huntington
Boston, Mass.
Salma Hale
"
"
E. Murdock, Jr
"
"
Hiram Hosmer
Boston, Mass.
George D. Dutton
"
"
THOMAS THACHER, President
Boston, Mass.
CHARLES J. EVERETT, Treasurer
"
"
E. A. CHAPIN, Superintendent
Keene, N.H.
PRINCIPAL OFFICE
Boston, Suffolk Co., Mass.
LENGTH OF Roan-South Ashburnham, Mass., to Bellows's Falls, Vt. 53.64
miles.
Second track, including sidings
8.00 "
The trains of this road run over the Vermont and Massachusetts Railroad,
between South Ashburnham and Fitchburg, 10 miles, paying therefor $39,000
annually.
ROLLING STock-Locomotive Engines
18
Cars :-Passenger, 11; baggage, 5, and freight, 284, etc.
300
# From 21st Sept., 1849, to 30th Sept., 1850. t 14 months, from 1st Oct., 1850, to 1st Dec, '51.
Digitized by Google
52
NEW HAMPSHIRE-CHESHIRE
The Cheshire Railroad Company is a consolidation of the Cheshire of New
Hampshire and the Winchendon of Massachusetts; the first chartered on
the 27th Dec., 1844, with a capital of $1,000,000, and the latter in 1845, with
a capital of $400,000; each having authority to consolidate with the other.
The Consolidated Company was organized in 1845. The first section of
the road, from South Ashburnham to Winchendon, was commenced in Oct.
of the same year, and completed on the 1st Oct., 1847. The second to Troy,
14 miles, on the 27th Dec. In May, 1848, the road was opened to Keene
and near the close of the same year, the entire line was brought into use.
The bridge over the Connecticut, at Bellows Falls, was completed in the
following June. The length within Massachusetts is about 101 miles, and in
New Hampshire about 431 miles.
SHARE CAPITAL-Authorized, $2,250,000, in 22,500 $100 shares.
Issued, Common Stock, $68,100, in $100 shares.
"
Preferred Stock, $2,017,825, in $100 shares.
The Preferred Stock was authorized by a vote of the stockholders at their
annual meeting, held 10th Dec., 1851, by which the original shareholders
were entitled, on subscribing and paying for one share of Preferred, to con-
vert into Preferred, three shares of Common Stock. Nearly all the share-
holders availed themselves of this option.
FUNDED DEBT-$738,200 classified as follows-
Issued,
Payable,
1st July, 1850
$475,700
6 per cent.,
1st July, 1860,
"
"
1853
176,300
6 per cent.,
"
"
1863,
-
Interest payable 1st Jan. and 1st
"
"
1855
43,100
6 per cent.,
"
"
1875,
July, at Boston.
at
"
1857
43,100
6 per cent.,
"
"
1877,
None of the bonds are secured by mortgage. The interest has been paid.
FLOATING DEBT-$84,327.
INCOME ACCOUNT FOR THE YEAR ENDING 30TH NOVEMBER, 1859.
Receipts-
Disbursements-
Balance of income
$92,586
Repairs of road
$14,652
Passengers
100,479
Renewals of rails
23,199
Freight
212,464
Repairs of locomotives
20,774
Mails, etc
15,29S
Repairs of passenger cara.
4,177
Repairs of freight cars
11.236
Fuel
31,491
Oil and waste
5,367
General expenses.
53,365
Rent to V. and Mass Railroad
39,000
Interest paid
53,581
Balance
164,663
Total
$420,827
Total
$420,827
GENERAL LEDGER BALANCE SHEET, 1ST DECEMBER, 1859.
Dr.
Cr.
Graduation and masonry
$1,490,749
Share-Capital
$2,065,925
Bridging
41,490
Funded Debt
738,200
Superstructure, including iron
480,371
Floating Debt
84,327
Station buildings
106,336
Balance profit and loss
255,279
Land and land-damages
125,055
Rolling Stock
322,267
Engineering
46,889
Agencies, etc.
462,807
Other assets
87,767
Total
$3,163,731
Total
$3,163,731
Digitized by Google
NEW HAMPSHIRE-EASTERN.
53
COST, EARNINGS, EXPENSES, ETC., YEARLY.
Cost
Mile-
Gross Earnings
Operating
Net
Div
Year.
of Road.
age.
Passengers.
Freight. Mails, etc.
Total.
Expenses.
Earnings.
p. c
1848
$1,905,456
53,64
$34,294
$43,388
$2,352
880,043
$37,065
$42,969
nil.
nil.
1849
2,618,069
53.64
72,863
92,241
7 002
172,106
61,029
111,077
$40,462*
2f
1850
2,739,318
53.64
98,747
99,021
10,646
208,414
92,587
115,827
nil.
nil.
1851
2,777,843
53.64
101,658
110,020
10,617
222,295
99,125
123,170
"
"
1852
3,002,094
53.64
119,745
157,380
10,643
287,768
187,063
100,705
103,644
5
1853
3,075,195
53,64
123,011
182,060
10,228
315,299
185,596
129,703
84.808
4
1854
3,181,997
53.64
139,186
220,482
13,224
372,892
241,876
131,016
nil.
nil.
1855
3,179,686
53.64
135,520
231,472
13,229
380,221
236,656
143,565
43,100+
2
1856
3,077,606
53.64
118,341
224,665
12,623
355,629
242,551
113,078
nil.
nil.
1857
3,082.757
53.64
112,188
196,721
13,668
322,577
228,610
93,967
43,100+
2
1858
3,080,831
53.64
97,227
185,807
14,298
297,332
188,814
108,518
nil.
nil.
1859
3,075,964
53.64
100,479
211,864
15,298
327,741
202,582
125,159
"
"
$34,796,816
643.68
1,253,259
1,955,221
133,828
3,342,308
2,003,554
1,338,754
315,114
Aver.
2,899,734
53.64
104,438
162,935
11,152
278,525
166,963
111,563
26,260
1.3
EASTERN RAILROAD.
(Financial year ending 30th November, 1859.)
ICHABOD GOODWIN, President
Portsmouth, N.II.
J. B. PARKER, Treasurer
Boston, Mass.
LENGTH OF RoAn-Portsmouth to Massachusetts State Line
16.55 miles.
The Eastern Railroad Company in New Hampshire was chartered on the
18th June, 1836. Its construction was commenced in 1839, and the road
opened for public use in December, 1840. On the 2d June, 1839, an act was
passed authorizing the Company to lease the road to the Eastern Company
of Massachusetts for a term of ninety-nine years from the 18th of February,
1840. The two companies are virtually consolidated, and share alike in
dividends. The road is entirely managed by the Massachusetts Company,
that of New Hampshire exercising no acts except such as are necessary to
the maintenance of its organization. Share Capital-Authorized, $500,000,
in 5,000 $100 shares; paid in, $492,500. Floating Debt-$42,705. Cost of
Road, etc.-$525,205.-(See Eastern Railroad Company of Massachusetts.)
GREAT FALLS AND CONWAY RAILROAD.
(Financial year ending 31st March, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
John Smith
Centre Ossipee, N.H.
Charles Dennett
Rochester, N.II.
Asa Bencham
Ossipee,
"
Owen W. Davis
Great Falls,
"
Thomas M. Wentworth
Lebanon,
"
Isaac Chandler
"
"
OLIVER HILL, President
Great Falls, N.H.
A. A. PERKINS, Treasurer, Secretary, and Superintendent
"
"
PRINCIPAL OFFICE
GREAT FALLS, Strafford Co., N.H.
LENGTH OF Road-Great Falls to Union Village
20.09 miles.
No second track. Sidings, etc., 1.3 miles.
ROLLING STOCK-Locomotive engines.
3
Cars :-Passenger, 2; freight and other cars, 52
54
Paid in stock. t Paid in bonds.
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51
NEW HAMPSHIRE-GREAT FALLS AND CONWAY.|
The Great Falls and Comway Railroad Company was chartered on the 19th
June, 1844. The construction of the road was commenced in May, 1848.
On the 28th Feb., 1849, the first section from Great Falls to Rochester,
61 miles, was completed; on the 19th March, 1850, the section between Ro-
chester and South Milton, 6 miles, and in the summer of 1855, to Milton, 8
miles. The whole length of line from Great Falls to Conway is about 461
miles. No work of any amount has been done north of Milton.
SHARE CAPITAL-Authorized by charter, $1,000,000, in 10,000 $100 shares.
Paid in-$166,748, as follows-
Preferred 8 per cent. shares
$41,101
The Preferred Shares were created in pursuance of a vote of the stock-
holders, 31st May, 1850, and distributed to holders of common stock in the
proportion of one Preferred to every two common shares. The total amount
authorized was $85,000. No interest has been paid on these shares.
Common Stock
$125,647
FUNDED DEBT-$250,000 classified as follows—
1st Mortgage, 6 per cent. coupon bonds
$100,000
-dated 22d Sept., 1851, and payable, principal 1st July, 1862, and coupons
semi-annually, 1st Jan. and July, at Treasurer's office, Somersworth, N.H.
2d Mortgage, 6 per cent. coupon bonds
$100,000
-dated 1st April, 1854, and payable, principal 1st Oct., 1874, and coupons
semi-annually, 1st April and 1st Oct., at the Treasurer's office.
3d Mortgage, 6 per cent. coupon bonds
$50,000
-dated 1st April, 1857. Of this issue, 10 per cent. were due 1st July,
1857, and 90 per cent. 1st Jan., 1858. Interest payable 1st Jan. and 1st July,
at the Company's office. This mortgage provided for an issue of $75,000.
A portion of the bonds are held as collateral to the floating debts of the
Company. Interest on bonds has been regularly paid.
FLOATING DEBT-$42,019, notes payable.
COST OF ROAD AND EQUIPMENT-$403,565: in detail as follows—
Land, land-damages and fencing
$33,484
Station buildings, etc
$18,481
Graduation and masonry
115,690
Locomotive engines
Engineering, etc
30,636
Passenger arfd freight cars
-
40,334
Superstructure
152,366
Miscellaneous expenses
12,573
INCOME ACCOUNT FOR THE YEAR ENDING 31sT MARCH, 1859.
Receipts-
Disbursements-
Passenger traffic
$9,614
Repairs of roadway
$3,969
Freight traffic
17,212
Repairs of rolling stock
669
Mail service, etc
1,000
Wood, $3,416; oil, etc., $334
3,750
Operating expenses.
5,602
Interest, etc
13,836
Total
$27,826
Total
$27,826
GENERAL LEDGER BALANCE SHEET, 1ST APRIL, 1859.
Cr.
Dr.
Share capital, common
$125,647
Construction
$363,231
"
"
preferred
41,101
Equipment
40,334
Funded Debt
209,927
Profit and loss
15,129
Notes payable
42,019
Total
$418,694
Total
$418,694
Digitized
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NEW HAMPSHIRE-MERRIMAC AND CONNECTICUT RIVERS.
55
COST, EARNINGS, EXPENSES, ETC., YEARLY.
Mile-
Gross Earnings
Ex-
Earns.-Div.-
Year.
Cost.
age.
Pass'ger.
Freight.
Mails.
Total.
penses.
less exp.
1850
$133,520
6.59
$3,747
$2,431
$6,178
$6,365
Loss.
nil.
1851
204,013
12.36
5,921
6,989
12,910
13,213
"
"
1852
211,102
12.36
6,500
6,647
13,147
8,621
4,526
"
1853
225,829
12.36
6,002
8,873
268
15,143
6,599
8,544
"
1854
267,793
12.36
6,462
8,792
470
15,724
7,255
8,469
"
1855
309,272
14.13
8,009
9,936
402
18,347
8,727
9,620
"
1856
387,900
20.09
11,177
16,734
595
28,506
19,374
9,132
"
1857
421,913
20.09
11,279
14,129
963
26,371
12,579
13,792
"
1858
432,995
20.09
9,842
14,301
1,000
25,143
11,514
13,629
"
1859
432,995
20.09
9,614
17,212
1,000
27,826
13,990
13,836
"
$3,027,332
50.52
$78,553
$106,044
$4,698
$189,295
$108,237
$81,058
"
Average, 302,733
15.05
7,855
10,604
469
18,929
10,823
8,105
"
MERRIMAC AND CONNECTICUT RIVERS RAILROAD.
(Financial year ending 31st March, 1859.)
OFFICERS, 1859-60.
E. H. ROLLINS, President
Concord, N.H.
ONSLOW STEARNS, Agent for line from Concord to Claremont
"
"
JOSEPH A. GILMORE, Sup't. for line from Manchester to N. Weare.
"
"
PRINCIPAL OFFICE
CONCORD, Merrimac Co., N.H.
LENGTH OF RoAD-Concord to Bradford
27.16 miles.
Manchester to North Weare
25.52 "
Total
52.68 miles.
No second track. Sidings and turnouts, about 4 miles.
ROLLING STocK-Locomotive Engines
2
Cars :-Passenger, 4; freight, etc., 80
84
The Merrimac and Connecticut Rivers Railroad Company is a consolidation of
the two companies formerly known as the " Concord and Claremont," and
the " New Hampshire Central," both of which were originally intended to
reach the Connecticut River at Claremont.
On the 8th Jan., 1853, an act was passed under which the two companies
were consolidated on equal terms, and took the style of the " Merrimac and
Connecticut Rivers Railroad Company;" the new company to be responsible
for the liabilities of both the old companies.
This act was accepted by the stockholders in the New Hampshire Central
on the 1st Feb., 1853, and by the stockholders in the Concord and Claremont
on the 12th April, 1853, at which latter date the consolidation was formally
consummated
In consequence of default in the payment of interest, the road has for sev-
eral years past been in the hands of the trustees under the mortgage, and is
operated by the Northern Railroad Company under a contract with the
trustees.
SHARE CAPITAL-Authorized, $3,000,000, in 30,000 $100 shares.
Paid in, $595,587.
FUNDED DEBT-$383,400 : classified as follows-
1st Mortgage, (N. H. Central,) 6 per cent. bonds
$133,400
-dated 1st Jan., 1851, and payable, principal 1st Jan., 1856 and 1861, and
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56
NEW HAMPSHIRE-MERRIMAC AND CONNECTICUT RIVERS.
interest semi-annually, 1st Jan. and 1st July. Under this mortgage provision
was made for $200,000.
1st Mortgage, (Con. & Clar.) 6 per cent. bonds
$100,000
-dated 1st July, 1850, and payable, principal 1st July, 1855, and interest
semi-annually, 1st Jan. and 1st July.
2d Mortgage, (Con. & Clar.) 6 per cent. bonds
$150,000
-dated 8th Sept., 1851, and payable, principal 8th Sept., and interest semi-
annually, 8th March and 8th Sept.
Since 1854 a portion only of the interest on the bonds has been paid—
viz. : In 1856, $14,736; in 1857, $4,500; in 1858, $12,909, and in 1859,
$16,981.
FLOATING DEBT-$303,517, bills payable, coupons, etc.
CosT OF ROAD AND EQUIPMENT-$1,282,504 in detail as follows-
N.H. Central.
Concord & Claremont.
Total.
Graduation and masonry
$201,236
$158,725
$359,961
Wooden bridges
38,304
21,876
60,180
Superstructure, including iron
137,033
164,467
301,500
Stations, buildings and fixtures.
8,517
33,902
42,419
Land, land-damages, and fences
31,280
48,103
79,383
Locomotives
16,068
25,472
41,540
Passenger and freight cars
24,667
72,408
97,075
Engineering and other expenses
37,462
69,344
106,806
Total
$494,567
$594,297
$1,088,864
Other items
193,640
INCOME ACCOUNT FOR THE YEAR ENDING 31sr MARCH, 1859.
Receipts-
Disbursements-
From passengers
$19,524
For roadway
:
$10,271
Freight
33,898
Repairs of rolling stock
:
5,096
Mail service
2,504
Wood, oil, etc
4,596
Express
975
Running expenses
18,654
Miscellaneous
2,873
Interest and coupons
16,981
Surplus income
4,176
Total
:
$59,774
Total
859,774
GENERAL LEDGER BALANCE SHEET, 1ST APRIL, 1859.
Cr.
Dr.
Share capital
$595,587
Construction
$1,109,860
Funded Debt
383,400
Cost of equipment
138,715
Floating Debt
303,517
Additional cost
33,929
Total
$1,282,504
Total
$1,282,504
COST, EARNINGS, EXPENSES, ETC., YEARLY.
Cost of
Miles
Gross Earnings
Operating
Earnings, Div.
Year.
Road, &c.
of road.
Pass'r.
Freight.
Mails, &c.
Total.
expenses.
less exp.
1653-4
$1,248,575
5268
$35,002
$64,099
$3,066
$102,167
$58,841
$43,326 nil.
1854-5
1,286,274
52.68
26,848
56,863
1,220
84,931
43,266
41,665
"
1855-6.
1,286,681
52.68
27,417
46,966
6,560
80,943
59,411
21,532
"
1856-7
1,281,504
52.68
27,532
43,000
5,727
76,259
54,105
22,154
"
1857-8.
1,281,504
52.68
21,115
32,953
5,661
59,729
44,378
15,351
"
1858-9.
1,282,504
52.68
19,524
33,898
6,352
59,774
38,618
21,156
"
$7,667.042
316.08
$157,438
$277,779
$28,586
$463,803
$298,619
$165,184
"
Average.
1,277,840
52.68
26,239
46,296
4,764
77,300
49,769
27,364
"
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NEW HAMPSHIRE-MANCHESTER AND LAWRENCE.
57
MANCHESTER AND LAWRENCE RAILROAD.
(Financial year ending 31st March, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
E. J. M. Hale
Haverhill, Mass.
Asa Fowler
Concord, N.H.
David A. Bunton
Manchester, N.H.
Nathaniel G. White
Lawrence, Mass.
John Flint
Andover, Mass.
Charles Conner
Exeter, N.H.
N. G. UPHAM, President
Concord, N.H.
D. J. DANIELS, Treasurer
Manchester, "
JOSEPH A. GILMORE, Superintendent
Concord, "
PRINCIPAL OFFICE
MANCHESTER, Hillsboro' Co., N.H.
LENGTH OF RoAD-Manchester to Lawrence, including Methuen Branch 26.47 miles.
No second track. Sidings and turnouts, 2.42 miles.
The Manchester and Lawrence Railroad Company was chartered on the 30th
June, 1847. The construction of the road was commenced in the summer
of 1848. The road was opened for the transportation of passengers on the
13th Nov., 1849, and of freight on the 1st Jan., 1850. On the 4th Oct.,
1850, it was leased to the Concord Company for five years, from 1st Nov.
following, and operated in connection with the Concord road until 1st Nov.,
1853-the net profits of the joint business being divided between them in
the ratio of $4 per share to the Concord, and $3 per share to the Manchester
and Lawrence. From 1st Nov., 1853, to 1st Dec., 1856, this company ope-
rated its own road. At the last-named date, the road was leased to the
Concord Railroad Company for a period of five years, the net profits to be
divided in proportion to the cost of the roads respectively-that of the Con-
cord being estimated at $1,500,000, and that of the Manchester and Law-
rence at $1,000,000. The amounts paid the latter under this lease to date
have been $177,198, viz.: for the four months ending 31st March, 1857,
$21,577; for the year 1857-8, $64,044, and for 1858-9, $85,577. These
sums are exclusive of contributions to the joint contingent fund.-See Con-
cord Railroad.
SHARE CAPITAL-Authorized by charter, $1,000,000, in 10,000 $100 shares.
Paid in, $865,200.
In 1850 a Preferred Stock of $250,000 was created, to receive 8 per cent.
dividend until the earnings in any one year should be equal to 8 per cent.
on all the shares. On the 17th January, 1851, the treasurer was authorized
to exchange 2,200 shares of this stock for the same number of shares with-
out preference, paying therefor a premium of 10 per cent., provided the
owners thereof took 500 shares of old stock, then on hand, at par. At the
same date the treasurer was authorized to exchange the residue of the Pre-
ferred Stock, paying therefor a premium of 10 per cent. in cash. Under
this authority the greater portion of the "Preferred" was exchanged; and
as the road has now earned an 8 per cent. dividend, the whole is regarded
as Common Stock.
FUNDED DEBT-A mortgage on the road, etc., as follows-
1st Mortgage, 6 per cent. convertible
$33,800
-dated 1st Oct., 1855, and payable, at the Company's office, Manchester,
8
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58
NEW HAMPSHIRE-NORTHERN.
N.H., in annual instalments of $12,500. Interest payable semi-annually, 1st
April and 1st Oct., in Boston. The amount covered by this mortgage was
$100,000, most of which has been converted into stock.
FLOATING DEBT-$106,847, bills payable.
INCOME ACCOUNT FOR THE YEAR ENDING 31sT MARCH, 1859.
Receipts-
Disbursemento-
2-5ths of joint income of the Concord
Two dividends, 4 per cent. each
$67,536
and the Manchester and Lawrence
Interest on capital not paid in
10,843
roads
$85,577
Dividends on Preferred Stock (36 shs.)
416
Surplus income
6,782
Total
$85,577
Total
$85,577
GENERAL LEDGER BALANCE SHEET, 1ST APRIL, 1859.
Cr.
Dr.
Share capital
$865,200
Construction, etc.
$1,000,000
Bonds
33,800
Cash
20,609
Notes payable
106,847
Notes receivable
1,325
Income
32,569
Sundry accounts
2,053
Unclaimed dividends
1,410
Proportion of stock on hand due
Stock dividends
7,800
from joint companies
23,639
Total
$1,047,626
Total
$1,047,626
CosT, EARNINGS, EXPENSES, ETC., YEARLY.
Cost of
Miles.
Gross Earnings
Operating Earng's,
-Div.-
Year.
Road, &c. of Road. Passen'r. Freight. Mails,etc. Total. expenses. less exp.
p.c.
1850
$732,796
26.47
*43,265
$32,527
86,024
$81,836
$55,210
$26,626
$22,414
31
1851
812,728
26,47
Operated by Concord, from 1st Nov., 1850, to
1852
837,691
26.47
1st Nov., 1853.
-
+67,945
76,945
101
1853
900,662
26.47
56,258
62,178
5,427
124,453
72,931
$51,522
55,871
7
1854
916,192
26.47
69,404
86,603
4,757
160,764
98,092
62,672
55,522
7
1855
981,121
26.47
72,534
108,226
5,414
186,174
104,991
81,183
nil.
1856
1,000,000
26.47
75,192
108,641
5,956
189,789
107,281
82,508
56,076
7
1857
1,000,000
26.47
$21,570
1858
1,000,000
26.47
Operated by Concord from 1st Dec., 1856.
~~~~~~~~~~~~~~~~~~~~~~~~~
68,665
67,536
8
1859
1,000,000
26.47
85,577
67,536
8
$9,181,190
264 70
548,267
457,896
Average.
918,119
26.47
54,826
45,789
5.8
NORTHERN RAILROAD.
(Financial year ending 31st March, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
Josiah Minot
Concord, N.H.
Joseph W. Clark
Boston, Mass.
George W. Nesmith
Franklin, "
John A. Burnham
"
"
George A. Kettell
Boston, Mass.
Uriel Crocker
"
"
ONSLOW STEARNS, President and Superintendent
Concord, N.H.
GEORGE A. KETTELL, Treasurer
Boston, Mass.
PRINCIPAL OFFICE
CONCORD, Merrimac Co., N.H.
# Operations from 13th Nov., 1849, to 1st Nov., 1850, about 111 months. + Operations from
latiNov., 1850, to 30th April, 1852, 18 months. t Operations from 1st May, 1852, to 1st April, 1853,
11 months. $ Operations from 1st Dec., 1856, to 1st April, 1857, 4 months.
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NEW HAMPSHIRE-NORTHERN.
59
LENGTH OF Rosp-Main Line, Concord to West Lebanon
69.16 miles.
Branch Line, Franklin to Bristol
12.41 "
Total length of road owned by the Company
81.57 "
No second track ; sidings, etc.
10.19 "
Total equivalent single track
91.76 "
ROLLING STocK-Locomotive Engines
22
Cars :-Passenger, 13 baggage, 8; freight, etc., 365
386
The Northern Railroad Company was chartered on the 18th June, 1844, and
organized on the 15th July, 1845. In October and November following, the
road was placed under contract. On the 1st September, 1847, the first sec-
tion from Concord to Canaan, 54 miles, was opened for public use, and on
20th Nov. following the entire line to West Lebanon. In April, 1848, a lease
was taken of the Franklin and Bristol Railroad for a term of 100 years.
The company constructing this road was chartered on the 8th July, 1846.
Its construction was commenced in 1847, and the road completed in July,
1848. On the 31st Jan., 1849, legislative sanction having been obtained, the
two companies consolidated, since which time the Franklin and Bristol has
been operated as a part of the Northern Railroad. The cost of this branch
at the time of consolidation was $190,942, represented by share capital
$159,746, and bills payable, $31,196. A considerable expenditure was sub-
sequently made to complete the line. The cost of both roads and equipment
at the same date was $2,655,398.
SHARE CAPITAL-Authorized, $3,068,400, in 30,684 $100 shares.
Paid in, $3,068,400.
Interest was paid on stock assessments till 1st May, 1848.
FUNDED DEBT-$299,500 classified as follows—
Six per cent. coupon bonds
$35,200
-dated 1st Jan., 1855, and payable, principal 1st Jan., 1860 and coupons
semi-annually, 1st Jan. and 1st July, at Boston.
Six per cent. coupon bonds
$71,700
-dated 1st April, 1854, and payable, principal, 1st April, 1864, and coupons
semi-annually, 1st April and 1st Oct., at Boston.
Six per cent. coupon bonds
$192,600
-dated 1st April, 1854, and payable, principal 1st April, 1874, and coupons
semi-annually 1st April and 1st Oct., at Boston.
None of the bonds are secured by mortgage. Interest on all has been
regularly paid.
FLOATING DEBT-$25,799.
COST OF ROAD AND EQUIPMENT-$3,068,400 : in detail as follows-
Graduation and masonry
$1,205,436
Locomotive engines
$130,653
Wooden bridges
138,470
Passenger and baggage cars
38,221
Superstructure, including iron
805,365
Merchandise cars.
118,359
Stations, buildings and fixtures
158,416
Engineering
47,420
Land and land-damages, etc
158,416
Agencies and other expenses
267,644
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60
NEW HAMPSHIRE-NASHUA AND LOWELL.
INCOME ACCOUNT FOR THE YEAR ENDING 31sr MARCH, 1859.
Receipts-
Disbursements-
Balance of Income Account, 1858
$167,573
Locomotive department
$62,765
Passenger traffic
83,875
Maintenance of way
51,521
Freight
256,417
General expenses
54,178
Mail service
8,499
State taxes
10,146
Miscellaneous
6,673
Construction Account
25,470
Transfer to contract account
9,675
Dividends
122,736
Balance of income account
186,546
Total
$523,037
Total
8523,037
GENERAL LEDGER BALANCE SHEET, 1ST APRIL, 1859.
Cr.
Dr.
Share capital
$3,068,400
Construction
$3,068,400
Income
186,546
Shop stock
28,758
Funded debt
299,500
Fuel, oil, etc
37,813
Bills payable
25,800
Northern (Ogdensburg) 2d M. Bds
33,750
422 shares Northern RR. Co.
17,669
Contracts
274,767
Bills receivable
119,089
Total
$3,580,246
Total
$3,580,246
COST OF ROAD, EARNINGS, EXPENSES, ETC., YEARLY.
Mile-
Gross Earnings
Ex-
Net
Div
Year.
Cost.
age.
Pass'ger.
Freight.
Mails.
Total.
penses.
earnings.
1848
$2,464,315
69.16*
$69,746
$78,426
$6,872
$155,044
$52,377
$102,667
nil.
nil
1849
2,655,398
82.57
113,201
162,360
11,008
286,569
119,292
167,277
92,978
31
1850
2,795,603
82.57
110,798
160,954
10,556
282,308
130,892
151,416
nil.
nil.
1851
2,768,400
82.57
110,528
162,009
15,420
287,957
124,409
163,548
110,736
4
1852
2,768,400
82.57
105,770
176,588
10,404
292,762
148,830
143,932
138,420
5
1853
2,768,400
82574
102,673
211,754
14,356
328,783
212,184
116,599
69,210
21
1854
2,768,400
82.57
111,622
241,519
17,388
370,529
232,230
138,299
55,368
2
1855
3,068,400
82.57
123,085
289,579
10,136
422,800
312,590
110,210
nil.
nil.
1856
3,068,400
82.57
114,252
287,247
16,087
417,586
285,208
132,378
"
"
1857
3,068,400
82.57
109,985
295,448
12,599
418,032
276,553
141,479
61,368
2
1858
3,068,400
82.57
100,718
252,661
12,500
365,879
240,575
125,304
122,736
4
1359
3,068,400
82.57
83,875
256,417
12,809
353,101
201,580
151,521
122,736
4
$34,330,916
977.43
1,256,253
2,574,962
150,135
3,981,350
2,336,720
1,644,630
773,552
Aver'e
2,860,913
81.53
104,688
214.580
12,510
331,780
194,727
137,050
64,463
2.2
NASHUA AND LOWELL RAILROAD.
LENGTH OF RoAD-Nashua to Massachusetts State Line
6.22 miles.
The Nashua and Lowell Railroad Company in New Hampshire was chartered
on the 23d June, 1835, and authorized to construct a road from Nashua to
the Massachusetts State Line. On the 26th June, 1838, an act was passed
granting permission to this Company to consolidate with the company of the
same name chartered by the Legislature of Massachusetts on the 16th April,
1836. The latter company having obtained similar authority, the two com-
panies were consolidated into one corporation.-See Nashua and Lowell Rail-
road Company, Massachusetts.
# Eight months' operations, from 1st Sept., 1847, to 1st May, 1848. { Eleven months' opera
tions, from 1st May, 1852 to 1st April, 1853.
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NEW HAMPSHIRE-NEW HAMPSHIRE CENTRAL.
61
NEW HAMPSHIRE CENTRAL RAILROAD.
LENGTH OF RoAD-Manchester to Henniker
25.52 miles.
No second track. Sidings and turnouts, 1.25 mile.
The New Hampshire Central Railroad Company was chartered on the 24th
June, 1848, and was authorized to build a road from Manchester to Clare-
mont. The construction of the road was commenced in 1849. It was opened
from Manchester to Weare, 10 miles, on the 19th Feb., 1850; to Henniker,
151 miles, on the 10th Dec., 1850. On the 12th April, 1853, legislative au-
thority having been obtained, this Company was consolidated with the Con-
cord and Claremont Company, under the title of the Merrimac and Connec-
ticut Rivers Railroad Company, (which see.)
GENERAL STATEMENT, 1ST May, 1853.
Cr.
Dr.
Share capital
$270,092
Cost of road
$472,120
Funded Debt
94,200
Cost of equipment
40,735
Floating Debt
180,977
Interest and discount
38,099
Income applied to construction
5,685
Total
$550,954
Total
8550,954
COST, EARNINGS, EXPENSES, ETC., YEARLY.
Cost of
Miles.
Gross Earnings
Operating Earng's,-Div-
Year.
Road, &c.
of
Road.
Passen'r.
Freight.
Mails,etc.
Total.
expenses.
less exp.
p.c.
1850-1
$486,312
25.16
$7,037
$5,152
$666
$12,855
$12,736
$119
nil.
1851-2
547,448
25.16
12,738
13,592
26,330
15,672
10,658
"
1852-3
550,317
25.16
12,193
19,068
31,261
19,159
12,102
"
$1,584,077
75.48
$31,968
$37,812
$666
$70,446
$47,567
$22,879
"
Average
528,026
25.16
10,656
12,604
222
23,482
15,856
7,628
"
PETERBORO' AND SHIRLEY RAILROAD.
LENGTH OF Roan-Mason Village to Massachusetts State Line
9.36 miles.
The Peterboro' and Shirley Railroad Company in New Hampshire was char-
tered on the 8th July, 1846, and was authorized to construct a road from the
Massachusetts line in Mason, through New Ipswich, to Peterboro'. In 1849
the road was placed under contract, and was completed to the Souhegan, on
the 11th Nov., and during the next year to Mason Village. From its open-
ing it has been operated by the Fitchburg Company in connection with the
Peterboro' and Shirley of Massachusetts-first at the stipulated sum of
$10 per day, and subsequently as a part of the Peterboro' and Shirley Rail-
road Company of Massachusetts under lease to that Company, the latter
road being leased to the Fitchburg Railroad Company. No reports have
been made of its operations. It has yielded no return for the capital invest-
ed in it; and, in pursuance of an act passed in 1858, the Company now pro-
pose to sell the road to the Massachusetts Company for $67,700, the amount
of its mortgage bonds.-(See Peterboro' and Shirley RR. of Mass.)
Share Capital, $143,456; Funded Debt, $67,700; Floating Debt, $110,-
665; Cost of Road, including discount, interest, etc., $245,643.
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62
NEW HAMPSHIRE-SULLIVAN.
SULLIVAN RAILROAD.
(Financial year onding 30th April, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
Samuel Eldridge
Boston, Mass.
John M. Glidden
Charlestown, N.H.
J. W. Clark
"
"
Jonas Livingston
Claremont, "
Edward Thompson
Charlestown, N.H.
L. Clark
New York, N.Y.
JOHN M. GLIDDEN, President
Charlestown, N.H.
JOHN S. ELDRIDGE, Trustee in charge
Boston, Mass.
EDWARD THOMPSON, Superintendent.
Charlestown, N.H.
PRINCIPAL OFFICE
CHARLESTOWN, Sullivan Co., N.H.
LENGTH OF RoAD-Main Line, Windsor, Vt., to Bellows Fall, N.H.
24.68 miles.
Branch Line, connecting with Vermont Valley RR
0.58
"
No second track. Sidings, turnouts, etc., 2.12 miles.
ROLLING STocK-Locomotive Engines (rented)
5
Cars -Passenger, 2; freight, etc., 50
52
The Sullivan Railroad. Company was chartered on the 10th July, 1846. The
construction of the road was commenced in the spring of 1847, and com-
pleted on the 5th February, 1849. In 1851 the Company connected the
road with the Vermont Valley Railroad at Bellows Falls by a bridge and a
branch road. On the 29th September, 1851, the whole property of the
Company was surrendered to the trustees under the mortgages, and has
since been operated by them for the benefit of the bondholders. The greater
part of the interest accruing since 1852 is unpaid.
SHARE CAPITAL-Authorized and paid in, $500,000, in 5,000 $100 shares.
FUNDED DEBT-$750,000 : classified as follows—
1st Mortgage, 6 per cent. coupon bonds
$500,000
-dated 1st Jan., 1850, and payable, principal 1st Jan., 1855, and coupons
semi-annually, 1st Jan. and 1st July, in Boston.
2d Mortgage, 6 per cent. coupon bonds
$250,000
-dated 1st Aug., 1851, and payable, principal 1st Aug., 1861, and coupons
semi-annually, 1st Feb. and 1st Aug., in Boston.
FLOATING DEBT-$262,516, viz. : coupons unpaid, $253,041, and bills and ac-
counts payable, etc., $9,475.
COST OF ROAD AND EQUIPMENT-$1,250,000 : in detail as follows-
Graduation and masonry
$442,339
Locomotives
$35,881
Bridges
58,701
Passenger and baggage cars.
11,998
Superstructure, including iron
235,332
Freight cars
30,953
Station buildings, etc
31,269
Engineering, etc
20,631
Land, land-damages and fences
58,760
Agencies and other expenses.
324,136
INCOME ACCOUNT FOR THE YEAR ENDING 30TH APRIL, 1859.
Receipts-
Disbursements-
From passengers
$27,146
Repairs of road, etc.
$13,978
Freight
32,761
Repairs of rolling stock
:
6,826
Express
1,000
Salaries, wages and office expenses
16,522
Mails, etc.
2,967
Wood, oil, etc
6,651
Income over expenses
19,897
Total
$63,874
Total
$63.874
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NEW HAMPSHIRE-WHITE MOUNTAINS.
63
GENERAL LEDGER BALANCE SHEET, 1ST May, 1859.
Cr.
Dr.
Share Capital
$500,000
Road and equipment
$1,250,000
Funded Debt
750,000
Profit and loss
262,516
Coupons unpaid
253,041
Floating Debt.
9,475
Total
$1,512,516
Total
$1,512,516
Cosr, EARNINGS, EXPENSES, ETC., YEARLY.
Mile-
Gross Earnings
Ex-
Earnings.-Div.-
Year.
Cost.
age.
Pass'ger.
Freight.
Mails.
Total.
penses.
less exp.
1849
$673,501
24.68
$6,000
$7,500
$501
$14,001*
$10,904
$3,097
nil.
1850
930,063
24.68
24,489
29,463
1,750
55,702+
26,334
29,368
"
1851
1,170,359
24.68
26,592
22,750
3,175
52,517
51,139
21,378
"
1852
1,193,254
25.20
29,331
24,903
5,977
60,211
29,536
30,625
"
1853
1,250,000
25.20
29,902
30,814
2.855
63,571
44,308
19,263
"
1854
1,250 000
25.20
33,004
33,783
3,539
70,326
45,177
25,149
"
1855
1,250,000
25.20
36,490
41,359
2,888
80,737
57,347
23,390
44
1856
1,250,000
25.20
33,691
38,439
3,116
75,246
56,195
19,051
"
1857
1,250,000
25.20
32,349
34,672
3,084
70,105
52,149
17,956
"
1858
1,250,000
25.20
28,395
30,215
3,342
61,952
47,767
14,185
.8
1859
1,250,000
25.20
27,146
32,761
3,967
63,874
43,976
19,898
"
11 years.
$12,717,177
275 64
307,389
326,659
34,194
668,242
444,882
223,360
"
An.
ave.
1,156,107
25.06
27,926
29,706
3,108
60,740
40,444
20,296
"
WHITE MOUNTAINS RAILROAD.
(Financial year ending 31st Jan., 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
E. J. M. Hale
Haverhill, Mass.
I
Frank J. Eastman
Littleton, N.H.
George Minot
Concord, N.H.
Cephas Brackett
"
"
BENJAMIN T. REED, President
Boston, Mass.
GEORGE MINOT, Treasurer
Concord, N.H.
PRINCIPAL OFFICE
CONCORD, Merrimac Co., N.H.
LENGTH OF ROAD-Bath Junc., on the B. Con. & M. RR., to Littleton 20.78 miles.
The White Mountains Railroad Company was chartered on the 24th Dec.,
1848, The construction of the road was commenced in the fall of 1851, and
completed in August, 1853. On the 1st March, 1853, the Company issued
Six per Cent. Mortgage Bonds to the amount of $180,000, payable in ten
years. The Company being in default on its interest from Sept., 1854, a
special act was passed in June, 1858, for the relief of the creditors of the
Company, and on the 3d Nov. of the same year the road was sold for the
nominal sum of $24,000. Bondholders to the amount of $160,300 united in
the purchase, and formed themselves into a new company with a capital of
$200,000. This Company, on the 1st Feb., 1859, leased the road to the
Boston, Concord and Montreal Company, for five years, at an annual rental
of $10,000. The new company owe no debts.
# Receipts, etc., from 5th Feb. to 1st June, 1849, 3f months. t Receipts, etc., from 1st June,
1849, to 30th April, 1850, 11 months.
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64
NEW HAMPSHIRE-WILTON.
Cost OF ROAD, EARNINGS, EXPENSES, ETC., YEARLY.
Cost of
Miles.
Gross Earnings
Operating Earng's,-Div~
Year.
Road, &c.
of Road.
Passen'r.
Freight.
Mails,etc.
Total.
expenses.
less exp.
p.c.
1854
$347,470
20.78
$4,127
$6,933
$982
$12,042*
$4,743
$7,299
nil.
1855
371,037
20.78
11,237
22,124
1,211
34,572+
11,732
22,840
"
1856
371,037
20.78
7,132
14,217
998
22,347$
15,912
6,435
"
1857
371,037
20.78
6,719
12,712
1,329
20,760t
18,790
1,970
"
1858
371,037
20.78
6,393
13,041
1,550
20,984
19,698
1,286
"
1859
371,037
20.78
5.185
9,281
1,162
15,628$
10,449
5,179
"
$2,202,655
12,468
40,793
68,308
7,232
126,333
81,324
45,009
"
Average.
367,109
20.78
6,798
11,284
1,205
21,052
13,554
7,499
"
WILTON RAILROAD.
(Financial year. ending 31st March, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
Joseph Greeley
Nashua, N.H.
"
I
William Ramsdell
Milford, N.H.
John Reed
"
A. Whittemore
Bennington, "
C. C. BOUTWELL, President
Nashua, N. H.
GEORGE STARK, Managing Agent
Boston, Mass.
J. B. WINSLOW, Superintendent
"
"
PRINCIPAL OFFICE
NASHUA, Hillsboro' Co., N.H.
LENGTH OF Road-Nashua to East Wilton
15.43 miles.
The Wilton Railroad Company was chartered on the 28th Dec., 1844, and
authorized to construct a road from Nashua to East Wilton and Marlow.
The construction of the road was commenced in the spring of 1847. It was
opened to Danforth's Corners, 81 miles, on the 1st Nov., 1848; to Milford,
111 miles, in 1850, and to East Wilton, 151 miles, in 1851. The road has
been operated by the Nashua and Lowell Company since its completion. By
agreement made on the 1st April, 1854, the Nashua and Lowell Company
contracted to run the Wilton road, paying therefor, annually, 6 per cent. on
the capital invested, $227,000, so long as the business of the Nashua
and Lowell road should yield 9 per cent. on a capital of $600,000. The
lease has been renewed for a series of years upon similar terms. This road,
and the Boston and Lowell, and Nashua and Lowell are now operated as one
line.-(See Nashua and Lowell RR. of Mass.)
SHARE CAPITAL-Authorized, $500,000, in 5,000 $100 shares.
Paid in, $211,000, in 2,110 $100 shares.
FUNDED DEBT-1st Mortgage, 6 per cent. bonds
$14,000
-dated 1st Dec. 1852, and payable, principal in 10 years; interest semi-
annually, 1st June and 1st Dec. Of this issue $9,000 have been taken up,
and appear in the General Ledger, as " Sinking Fund."
COST OF ROAD, ETC.-$226,980 : stated as follows—
Road-bed and superstructure.
$218,980 I Depot buildings.
$8,000
# 6 months' operations to 1st Feb., 1854. t 15 months' operations to 30th April, 1855. 1 12
months' operations from 1st May to 30th April. § 9 months' operations from 1st May, 1858,
to 31st Jan., 1859.
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NEW HAMPSHIRE-WORCESTER AND NASHUA.
65
The income of the road the past year, under the lease, was $18,035, out of
which two dividends of 3 per cent. each were paid.
GENERAL LEDGER BALANCE SHEET, 1ST APRIL, 1859.
Cr.
Dr.
Capital stock
$211,000
Roadway
$218,980
Bonds due Dec., 1862
5,000
Depot buildings
8,000
Sinking Fund (bonds redeemed)
9,000
Cash on hand
8,450
Dividend No. 21
6,330
Unclaimed dividends and interest
859
Contingent Fund
3,241
Total
$235,430
Total
$235,430
COST, EARNINGS, EXPENSES, ETC., YEARLY.
Cost of Road, Miles of
Total
Operating
Earnings,
-Dividends-
Year.
etc.
Road.
Earnings.
expenses.
less exp.
p. c.
1849
$118,722
8.80
$13,130*
$8,282
$4,848
$3,856
3
1850
130,637
8.50
17,083+
6,579
10,503
9,180
6
1851
159,257
11.80
17,747
8,030
9,717
10,466
6
1852
220,233
15.43
21,137
9,317
11,820
10,466
6
1853
229,435
15.43
25,599
9,540
16,059
12,660
6
1854
231,362
15.43
16,408
16,408
13,660
6
1355
228,187
15.43
13,197
13,197
11,605
51
1856
227,979
15.43
14,065
14,065
11,605
51
1857
226,979
15.43
14,526
14,526
12,660
6
1858
226,979
15.43
16,278
16,278
13,715
61
1859
226,979
15.43
18,035
18,035
12,660
6
$2,226,749
1,524
$145,456
$122,533
Average
205,432
13.8
13,223
11,230
5.7
WORCESTER AND NASHUA RAILROAD.
LINE OF RoAD-(in New Hampshire,) from Nashua to State Line
61 miles.
The Worcester and Nashua Railroad within New Hampshire was chartered
in 1845, under the title of the Nashua and Groton Railroad Company, with
authority to construct a railroad from Nashua to the State Line, there to
connect with the Worcester and Nashua Railroad of Massachusetts, and to
consolidate with the same. This was effected in Nov., 1846 the title of the
Massachusetts company being adopted for the consolidated line. The road
was fully opened in Dec., 1848. No separate organization is maintained in
New Hampshire.-(See Nashua and Worcester RR. of Mass.)
Year ending March 1st, 1849.
Year ending March 1st, 1950
9
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LAWS OF THE STATE IN REFERENCE TO RAILROADS.
List of all the Railroad Companies chartered in the State of New Hamp-
shire, with the dates of the Acts of their incorporation; and also the dates
and abstracts of all laws passed by the Legislature in reference thereto.
The asterisk [*] prexfied signifies that the work of construction has not been commenced.
Corporate Titles.
Date.
Abstract of Laws.
*AMMONOOSUC VALLEY
July 14, 1855
Act of incorporation.
ASHUELOT
Dec. 27, 1844
Act of incorporation-mny consolidate with
Vermont and Mass RR. Co.
"
July 10, 1846
Act of incorporation.
at
June 23, 1848
Amends act of incorporation.
"
June 21, 1848
Amendatory to act of incorporation.
"
July 12, 1850
Amends act of incorporation.
"
July 12, 1850
Establishes route of road.
ATLANTIC & ST. LAWRENCE
July - 1847
Constitutes Co. a corporation within N. Hamp
"
"
July 14. 1854
Confirms lease to Grand Trunk Company.
"
"
July 15, 1854
May build side tracks.
BOSTON & MAINE
June 27, 1835
Act of incorporation.
"
"
June 28, 1838
Additional to act of incorporation.
"
"
July 2, 1841
May unite with roads in Muss. and Maine.
"
"
July 2, 1845
May unite with B. & M. Extension in Mass
Beston, CONCORD & MONTREAL
Dec. 7, 1844
Act of incorporation.
"
"
"
July 1, 1845
Any corporation in State may subscribe.
"
"
"
June 22, 1847
Concord to be the place for filing and re-
cording lists, transfers and assignments.
"
"
"
July 13, 1850
Authorizes issue of bonds.
"
"
"
July 4, 1851
Authorizes issue of preferred stock.
"
"
"
July 12, 1856
Provides for the payment of debts.
CHESHIRE
Dec. 27, 1844
Act of incorporation.
"
July 1, 1845
May unite with the Winchendon Railroad.
:1
July 2, 1847
Amends act of incorporation.
"
July 12, 1853
Domicile of company established.
"
June 12, 1859
Authorizes an issue of bonds.
"CLAREMONT
July 14, 1854
Act of incorporation.
COCHECHO
July 2, 1847
Act of incorporation.
"
July 4, 1851
Authorizes issue of bonds.
"
July 13, 1855
Extends time for completion of road.
"COLEBROOK
Dec. 27, 1844
Act of incorporation.
CONCORD
June 27, 1835
Act of incorporation.
"
July 5, 1839
Allows a term of 2 years for filing location.
"
Dec. 23, 1840
Explanatory of an act relating to railroads,
etc., passed June 20, 1840.
"
June 30, 1843
Amends act of incorporation.
CONCORD & CLAREMONT
June 24, 1848
Act of incorporation.
"
"
July 13, 1850
In reference to issue of bonds.
"
"
July 13, 1850
Authorizes an increase of capital.
"
"
July 4, 1851
Authorizes issue of bonds.
"
"
July 8, 1853
Authorizes consolidation into Merrimac and
Connecticut River RR.
"CONCORD GRANITE
Dec. 28, 1836
Act of incorporation.
CONCORD & PORTSMOUTH
July 14, 1855
Act of incorporation.
"
.86
July 14, 1856
Prescribes amount of capital stock.
"
"
June 27, 1859
Authorized to construct branch.
"CONNECTICUT RIVER & MONTREAL
Jan. 3, 1849
Act of incorporation.
CONNECTICUT RIVER
Jan. 20, 1848
Act of incorporation-may connect with
Cheshire Railroad.
as
"
July 3, 1849
Amends act of incorporation.
"
"
Dec. 29, 1848
May lease or run any connecting road.
"CONWAY & MEREDITH
July 2, 1847
Act of incorporation.
66
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NEW HAMPSHIRE-RAILROAD LAWS.
67
Corporate Titles.
Date.
Abstract of Laws.
CONTOOCOOK VALLEY
June 24, 1848
Act of incorporation.
"
"
July 4, 1851
Authorizes issue of bonds.
"
"
July 12, 1856
Act for relief of creditors.
CONTOOCOOK RIVER
July 12, 1856
Act of incorporation.
"
"
June 24, 1859
Authorizes the execution of a mortgage.
*DOVER & WINNIPISEOGEE
July 2, 1839
Act of incorporation.
EASTERN
June 18, 1836
Act of incorporation.
"
July 2, 1839
May lease road, etc.
"
June 19, 1840
Amends act of incorporation.
"
June 29, 1841
May contract with Portsmonth Bridge Co.
for a connection with Portland, Saco and
Portsmouth RR
*EAST WILTON & GROTON
July 10, 1846
Act of incorporation.
"Essex EXTENSION
Jan 3, 1849
Act of incorporation.
*FITCHBURG, KEENE & CONN. RIVER.
Jan. 19, 1844
Act of incorporation.
FRANKLIN & BRISTOL
July 8, 1846
Act of incorporation.
"
"
Jan. 1, 1849
May unite with Northern RR. Company.
GRAFTON
July 2, 1847
Act of incorporation.
GREAT FALLS & SOUTH BERWICK
July 3, 1841
May bridge Salmon Falls River, etc.
GREAT FALLS & CONWAY
June 19, 1844
Act of incorporation.
"
"
"
July 2, 1845
Alters southern terminus.
"
"
"
July 2, 1847
Extends time.
"
"
"
Dec. 30, 1848
May consolidate with Gt. Falls and South
Berwick RR Company.
"
"
"
June 27, 1849
Extends time for completion.
"
"
"
July 4, 1850
Authorizes an issue of bonds.
"
"
"
July 12, 1851
Domicile of Company established.
"
"
"
July 12, 1851
Authorizes manufacturing companies to sub-
scribe capital.
"
"
"
Dec. 29, 1852
Limits number of Directors.
"
"
"
June 30. 1853
Amends act of 1848.
"
"
"
June 30, 1855
Authorizes an issue of bonds.
"
"
"
July 14, 1855
Authorizes an issue of bonds.
GROTON & NASHUA
Dec. 24, 1844
Act of incorporation.
64
"
June 26, 1845
May unite with Wor. & Nashua RR. Co.
*GoFFstown & MANCHESTER
July 2, 1847
Act of incorporation.
*KEENE
June 27, 1835
Act of incorporation.
*MANCHESTER & CANDIA
July 6, 1849
Act of incorporation.
"
"
Jan. 5, 1853
Extends time for completion of road.
"
"
July 15, 1854
Not to commence work until three-fourths
capital is subscribed.
"
"
June 28, 1859
Extends time for commencing work.
MANCHESTER & LAWRENCE
June 30, 1847
Act of incorporation.
"
"
Jan. 8, 1853
May increase capital stock.
"
"
July 14, 1855
Authorizes issue of preferred stock.
MERRIMAC & CONNECTICUT RIVER
Jan. 8, 1853
Concord & Claremont & New Hampshire
Central may consolidate into one company.
*MONADNOCK
Dec. 13, 1848
Act of incorporation.
*NASHUA & EPPING
Dec. 29, 1848
Act of incorporation.
"
"
June 30, 1853
Amends act of incorporation.
"
"
July 2, 1853
Amends act of incorporation.
NASHUA & LOWELL
June 23, 1835
Act of incorporation.
"
"
June 26, 1838
May unite with N. & L. of Massachusetts.
New HAMPSHIRE CENTRAL
June 24, 1848
Act of incorporation.
"
"
July 6, 1849
Amends act of incorporation
"
"
Jan. 8, !853
Authorizes consolidation into Merrimac &
Connecticut Rivers RR. Company.
"
"
June 26, 1858
Act for relief of creditors.
"New HAMPSHIRE UNION
July 2, 1851
Act of incorporation.
NORTHERN
June 18. 1844
Act of incorporation.
"
Dec. 27, 1844
Act of incorporation (2d).
PETERBOROUGH & SHIRLEY
July 8, 1846
Act of incorporation.
"
"
Jan. 8, 1853
Authorizes an increase of capital.
"
"
June 26, 1858
Act for relief of creditors.
"PISCATAQUOS RIVER
Jan. 3, 1849
Act of incorporation.
*PITTSFIELD & CONCORD
July 2, 1851
Act of incorporation.
"
"
Jan. 8, 1553
Amends act of incorporation.
*PORTLAND & CONNECTICUT RIVER
July 2, 1839
Act of incorporation.
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US
NEW HAMPSHIRE-RAILROAD LAWS.
Corporate Titles.
Date.
Abstract of Laws.
PORTSMOUTH & CONCORD
July 1, 1845
Act of incorporation under title of Ports-
mouth, Newmarket and Exeter.
"
"
July 2, 1846
Any RR. company may subscribe to capital.
"
"
July 10, 1846
May construct a line to Hooksett and a junc-
tion with the Concord Railroad.
"
of
June 23, 1848
May construct a branch to Manchester.
"
"
Jan. 3, 1849
Any RR. company may loan money to.
"
"
July 12, 1850
Extends time for completion of road.
"
"
July 13, 1850
Authorizes an issue of bonds.
"
"
July 2, 1851
Amends act of incorporation.
"
"
Jan. 8, 1853
Authorizes an issue of preferred stock.
"
"
Jan. 27, 1854
Authorizes branch in Portsmouth.
"
"
July 14, 1855
New Company formed under title of Con-
cord & Portsmouth.
*PORTSMOUTH & DOVER
Dec. 21, 1842
Act of incorporation.
"
"
Dec. 27, 1844
May deviate from location, etc.
"
"
Dec. 29, 1848
Amends and continues act of incorporation.
"
"
Jan. 8, 1853
Amends and continues act of incorporation.
"
"
June 29, 1855
Extends time for taking stock.
*PORTSMOUTH & GREAT FALLS
July 12, 1850
Authorizes Manufacturing Companies to sub-
scribe to its capital stock.
"PORTSMOUTH, N. MARKET & EXETER
July 1, 1845
Act of incorporation
*SALISBURY & EAST KINGSTON
July 10, 1846
Act of incorporation.
"
"
June 23, 1848
Continues act of incorporation.
*SALISBURY & EAST KINGSTON Ext
July 6, 1849
Act of incorporation.
*SUGAR RIVER
July 14, 1855
Act of incorporation.
*SUNCOOK VALLEY
Jan. 4, 1849
Act of incorporation.
*SUNCOOK VALLEY EXTENSION
July 6, 1849
Act of incorporation.
SULLIVAN
July 10, 1846
Act of incorporation.
"
June 30, 1847
May branch to Claremont and Charlestown.
"
July 11, 1850
Amends act of incorporation.
"
July 14, 1855
Authorizes Trustees to take possession.
"
July 14, 1855
Authorizes an issue of preferred stock.
WILTON
Dec. 28, 1844
Act to incorporate.
"
Dec. 28, 1845
Subjects the Company to Revised Statutes.
"
July 12, 1850
Authorizes change of route.
"
Dec. 17, 1852
Limits number of Directors.
"
July 15, 1854
Extends time for completion of road.
WHITE MOUNTAINS
Dec. 24, 1848
Act of incorporation.
"
"
June 27, 1857
Act for the relief of creditors.
WHITE MOUNTAINS OF N. H
June 27, 1859
Act of incorporation.
WORCESTER & NASHUA
July 14, 1855
In reference to consolidation with the Gro-
ton & Nashua Company.
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STATE OF VERMONT.
ATLANTIC AND Sr. LAWRENCE.
VERMONT AND CANADA.
CONNECTICUT AND PASSUMPSIC RIVERS.
VERMONT CENTRAL.
RUTLAND AND BURLINGTON.
VERMONT AND MASSACHUSETTS.
RUTLAND AND WASHINGTON.
VERMONT VALLEY.
RUTLAND AND WHITEHALL.
WESTERN VERMONT.
SOUTHERN VERMONT.
The railroad first constructed in the State of Vermont was the Vermont
Central, chartered in 1843. Its construction was commenced in the latter
part of the same year, and the road opened in 1848 as far as Northfield, a
distance of fifty-three miles. It was finally completed on the 13th February,
1849. It has proved one of the most disastrous enterprises ever undertaken
in this country, having for the past six years failed to pay anything to its
stockholders or bondholders. An apparent cause of embarrassment has
been the lease of the Vermont Central Railroad, which was entered into in
1849, and which created a lien on the Central for the payment of the stipu-
lated rent of the leased road, which was eight per cent. on its cost. This
rent was paid up to Jane, 1854, since which the earnings of the road have
only sufficed to pay the cost of its maintenance, and current expenses. The
road in the meantime has earned annually $4,000 per mile, a sum sufficient,
with competent management, to have paid the rent of the leased road and
the interest on the first mortgage bonds. Several causes have operated to
render it unproductive. It has been managed for the greater part of the
time by parties who had little or no pecuniary interest in the result of its
working. The number and speed of its trains have been much greater than
the business of the road called for, while competition with other lines has
left little or no profit on its through traffic. The respective rights of the two
companies under the lease have been made a matter of legal controversy,
which is yet unsettled.
In 1848, portions of two other lines-the Connecticut and Passumpsic
Rivers, 39.87 miles, and the Vermont and Massachusetts, 10.50 miles-were
opened. The latter of these is described among the railroads of Massa-
chusetts. The Connecticut and Passumpsic Rivers has since been extended
to Barton, a distance of 90 miles from its southern terminus. It has not
been productive, though less unfortunate than the other leading roads of
the State. It has paid the interest on its debts, and dividends, averaging 2
per cent. annually. It is the aim of the Company to extend its road north-
ward, 80 as to connect it with the public works of Canada.
69
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70
STATE OF VERMONT.
In 1849, 44.87 miles of railroad were opened-the Vermont Central was
extended 10 miles, and the Connecticut and Passumpsic Rivers, 19.87 miles ;
the Rutland and Burlington was opened 14 miles. The latter road was
extended to Lake Champlain in 1850. It has been unproductive, paying
nothing to its stockholders, and no portion of the interest accruing on its
bonds since 1st August, 1854. The same causes have operated, that did with
the Central, to render this road unproductive. It has been in the hands
of trustees under the mortgages since 20th November, 1853.
In 1850, 216.93 miles were opened, viz: the Vermont Central was extended
to Burlington and to Bellows Falls, 56 miles; the Rutland and Burlington
to Burlington, 105.54 miles. The Vermont and Canada, 47 miles, and the
Rutland and Whitehall, 8.39 miles, were opened for their entire lengths.
The last named has been leased to and operated by the Saratoga and Wash-
ington Railroad at an annual rental of 7 per cent. on cost to 1854, when the
rate was reduced to 6 per cent.
In 1851, 64.70 miles were opened : the Vermont Valley for its whole length,
23.70 miles, and the Western Vermont, 41 miles. Both roads have been
almost entirely unproductive, the Vermont earning on an average only about
$10,000 above expenses. The coupons on the 1st mortgage falling due since
October, 1856, remain unpaid. Proceedings are now in progress for the
foreclosure of this mortgage. The Western Vermont road has been fore-
closed under its 1st mortgage, and is now owned by the bondholders secured
by it, who have leased the road to the Troy and Boston Railroad Company,
for 10 years from the 16th January, 1857, at an annual rental of $36,000.
In 1852, 57.73 miles were opened, viz: the Western Vermont was
extended 13 miles. The Rutland and Washington opened for its entire
length 44.73 miles. This road has been unproductive, and has been in the
hands of trustees under the mortgages for nearly the whole period since its
completion, and has probably only earned running expenses. The mortgage
created in 1855 was for paying off the bonds previously issued, and the
floating debt of the Company. The exchanges contemplated have only
been partially consummated, the rights of the several classes of creditors
having been made a subject of litigation, which is still pending.
In 1853, the Atlantic and St. Lawrence Railroad was opened to Island
Pond, 16 miles. In 1854 this road was extended to the boundary line of the
State, 17 miles further.
In 1855, the Western Vermont Railroad was extended 51 miles.
In 1858, the Connecticut and Passumpsic Railroad was extended to Bar-
ton, 29.26 miles. In 1859, the Southern Vermont Railroad, 8 miles, was
opened. This road has been purchased by the Troy and Greenfield Railroad
Company for the sum of $200,000.
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RAILROADS IN THE STATE OF VERMONT.
STATEMENT showing the Share Capital, Indebtedness, Cost, Mileage, Receipts for transportation of Passengers, Receipts for transportation of
Freight, Receipts for transportation of Mails, Operating Expenses, Net Earnings, and Dividends paid by the Railroad Companies
of the State of Vermont, for each year since the opening of the first road:
Capital
Indebtedness
Total
Cost of
Mile-
Receipts
Operating
Earnings
Divi-
Year.
paid in.
Funded.
Floating.
Liabilities.
Roads, etc.
age.
Pass'r.
Freight.
Mails.
Total.
expenses.
less exp.
dend.
Year.
1849
$800,000
$800,000
$800,000
40.03
$25,110
$32,211
857,321
$23,761
$33,560
nil.
1849
1850
8,648,942
$1,118,648
$730,550
10,498,140
8,430,960
240.74
133,997
123,889
$12,222
270,108
125,514
144,594
"
1850
1851
9,939,400
1,800,000
1,600,000
16,339,400
15,753,227
378.37
362,675
483,097
35,703
881,475
381,784
499,691
$189,525
1851
1852
11,467,576
5,900,000
2,070,000
19,437,576
18,380,569
477.10
428,735
616,131
44,940
1,089,806
835,836
253,970
127,572
1852
1853
11,467,576
8,198,500
2,020.000
21,686,076
19,364,017
477.10
564,534
855,615
127,424
1,547,573
945,167
602,406
127,572
1853
1854
11,468,576
9,219,900
1,870,000
22,558,476
19,767,102
477.10
630,330
907,281
93,318
1,630,929
1,253,148
377,781
71,839
1854
1855
11,469,515
9,463,100
2,350,000
23,282,615
21,762,849
487.60
588,103
911,747
87,106
1,586,956
1,281,277
305,679
8,949
1855
1856
11,483,120
9,712,420
2,965,707
24,161,247
21,783,971
487.60
601,809
994,971
82,637
1,679,417
1,311,294
368,123
15,342
1856
1857
11,484,888
9,727,824
2,981.563
24,194,275
21,786,200
487.60
562,115
1,027,794
79,521
1,669,430
1,322,532
346,898
15,342
1857
1858
11,485,178
9,938,200
2,768,582
24,191,960
23,133,231
511.86
491,559
920,545
87,400
1,499,504
1,223,195
276,309
15,342
1858
1859
11,733,740
9,238,201
2,437,063
23,429,004
23,133,231
511.86
479,537
1,051,244
87,853
1,618,634
1,167,163
451,471
51,342
1859
11 yrs.
111,448,511
77,316,793
21,813,465
210,578,769
194,095,357
4,576 96
4,868,504
7,924,525
738,125
13,531,154
9,870,671
3,660 483
621,825
11 yrs.
Aver.-
10,131,682
7,028,798
1,983,042
19,143,524
17,645,032
416.09
442,591
720,411
67,102
1,230,105
867,880
332,771
56,530
Aver.
Of the total amount of share capital, $11,733,740, at present invested in the railroads of Vermont, only $255,700, the share capital of the Rutland and
STATE OF VERMONT.
Whitehall Company, is productive. The greater part of the balance may be regarded as sunk. The interest on the funded debts of the several companies,
amounting to $9,238,201, has been regularly paid only by the Connecticut and Passumpsic Railroad Company, the funded debt of which amounts to $800,000.
If it be assumed that, for the future, provision is made for the first mortgage bonds of the Western Vermont Railroad, under lease to the Troy and Boston,
only $1,200,000 of the whole funded debts of the companies is productive, leaving $8,038,202 unproductive, in a greater or less degree. Some small portions
of the earnings of the Rutland and Burlington, and of the Vermont Valley Companies find their way to the bondholders. The floating debts of all the companies,
with the exception of the Connecticut and Passumpsic Rivers Company, may be regarded as worthless.
The total earnings of all the roads in the State, since the opening of the first road have been $13,531,154, of which $4,868,504 have been received for the
Digitized by
transportation of passengers; $7,924,525 for the transportation of merchandize, and $738,125 for the transportation of mails and from uniscellaneous sources. The
gross earnings have averaged six and a half per cent. on the liabilities of the companies, and seven per cent. on the actual cost of the roads The net earnings
have averaged one and three-quarters per cent. on the liabilities of the companies, and about two per cent. on the cost of the roads The dividends, assuming
that the rent paid the Rutland and Whitehall and the Western Vermont Railroad Companies have been applied to their payment, have equaled about half of
one per cent. on the share capital of all the roads. A portion of this, however. was paid in stock.
Google
The railroads of Vermont have been less productive than in any other State. This is owing in part to the high cost of the roads, which was greatly en-
hanced by the inadequate means provided for their construction. The cost of operating and maintaining them has been excessive, equaling seventy-four per
cent of their receipts. The relations that the leading roads sustain to other lines, has undoubtedly led to a frequency and speed of trains not justified by the
business of their routes. They take rank among important routes, and have to incur corresponding expenditures without adequate incomes to uncet them.
71
RAILROADS OF THE STATE IN DETAIL.
ATLANTIC AND ST. LAWRENCE RAILROAD.
LENGTH OF ROAD-In Vermont.
35 miles.
The Atlantic and St. Lawrence Railroad Company in Vermont was chartered
on the 27th October, 1848. By this act the corporation established by the
Legislature of Maine, on the 10th February, 1845, and of New Hampshire,
on the 30th June, 1847, was constituted a corporation within this State, and
authorized to extend its road from the western line of New Hampshire
through the northeastern part of Vermont to the boundary of Canada, there
to connect with the St. Lawrence and Atlantic Railroad extending from
Montreal to the said boundary line. That portion of the line from New
Hampshire to Island Pond (See Maine) was constructed by the Atlantic
and St. Lawrence Company, but that portion west of the said point by the
Grand Trunk Railway Company of Canada, (which see), under special agree-
ment with the former. The first section was opened for public use in 1853,
and the latter in 1854. The whole is now operated under lease by the
Canada Company for a period of 999 years from 1853.
CONNECTICUT AND PASSUMPSIC RIVERS RAILROAD.
(Financial year ending 31st May, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1860
Josiah Stickney
Boston, Mass.
Albert Knight
Stanstead, Can.
Erastus Fairbanks
St. Johnsbury, Vt.
E. B. Chase
Lyndon, Vt.
E. Cleveland
Coventry, "
Benj. Pomeroy
Compton, Can.
William Thomas
Boston, Mass.
Uriah Crocker
Boston, Mass.
Emmons Raymond
"
"
Thomas Upham
"
"
B.P. Cheny
"
"
T.B. Williams
"
"
John Gilman
Stanstead, Can.
Charles H. Brown
"
"
HENRY KEYES, President
Newbury, Vt.
N. P. LOVERING, Treasurer
"
"
GEORGE A. MERRILL, Superintendent
St. Johnsbury, "
PRINCIPAL OFFICE
St. JOHNSBURY, Caledonia County, Vt.
LENGTH OF Road-White River Junction to Canada Line
110 miles.
Completed from White River Junction to Barton
90
"
ROLLING STocK-Locomotive Engines
8
Cars-passenger, 8; baggage, express, and mail, 5; freight, etc., 156
169.
The Connecticut and Passumpsic Rivers Railroad Company was chartered on
the 10th November, 1835, with an authorized capital of $2,000,000, and
power to increase the same to $3,000,000. In 1843 the charter was revived
and the Company organized on the 15th January, 1846. The work was
commenced in the fall of 1846, and on the 10th October, 1848, the road was
opened for use from White River Junction to Bradford, 28 miles; and on
9th November to Wells River Village, 40 miles. In November, 1850, an
additional section of 20} miles to St. Johnsbury was opened, northerly, and
on the 21st October, 1858, the road was extended to Barton, the present ter-
minus. The northern section, a length of 20 miles, is now in course of
72
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VERMONT-CONNECTICUT AND PASSUMPSIC.
73
construction, by which it is proposed to connect with the Stanstead, Shefford
and Chambly Railroad in Canada, which has already been partially opened.
SHARE CAPITAL-Authorized, $3,000,000, in 30,000 $100 shares.
Paid in, - $1,200,000, in 12,000
"
FUNDED DEBT-$800,000: described as follows-
1st Mortgage, 6 per cent., Sinking Fund, coupon bonds
$800,000
-dated 1stDecember, 1856, and payable, principal in 20 years, and coupons
semi-annually, 1st December and 1st June, at Boston.
These bonds were issued to retire the original 1st and 2d Mortgage bonds
falling due in 1856, '57, '58 and '59, and which were secured on the road
south of St. Johnsbury. The present issue is secured on the whole line.
For their payment, on maturity, an amount equal to 2 per cent. of the funded
debt, or $16,000, is annually set aside from the net earnings of the road, and
placed in the hands of Trustees, to be invested in these bonds so far as they
can be purchased at or below par, or otherwise in undoubted productive
funds.
Cost OF ROAD AND EQUIPMENT-82,531,146 in detail as follows—
Graduation and masonry
$655,939
Engineering
$28,548
Bridges
185,252
Locomotives and snow-ploughs
71,329
Superstructure, including iron
467,055
Passenger and baggage cars
40,598
Stations, buildings and fixtures
57,347
Freight and other cars
73,495
Land, land-damages and fences
109,490
Expended on extension
842,093
INCOME ACCOUNT FOR THE YEAR ENDING 31sT May, 1859.
Receipts-
Disbursements-
Passenger traffic
$70,744
Maintaining roadway
$21,507
Freight
"
110,596
Repairs of machinery
35,287
Other sources
10,782
Operating expenses
53,328
General expenses
23,497
Interest
48,000
Surplus income
10,503
Total
$ 192,122
Total
$ 192,122
GENERAL LEDGER BALANCE SHEET, 1ST JUNE, 1859.
Dr.
Cr.
Cost of construction
$2,345,724
Share capital
$1,200,000
Cost of equipment
185,422
Funded debt.
800,000
Materials on hand
47,146
Surplus income
50,000
Balance
528,292
Total
$ 2,578,292
Total
$ 2,578,292
COST, EARNINGS, EXPENSES, ETC., YEARLY.
Cost of
Mile-
Gross Earnings
Operating Earnings,
-Div.-
Year.
Road, etc.
age.
Pass'gers.
Freight.
Mails.
Total.
Expenses.
less exp.
$
p. c.
1849
1,111,867
40.03
25,110
32,211
57,321
23,761
33,560
nil.
nil.
1850
1,323,039
40.03
54,431
53,876
4,327
112,634
50,920
61,714
127,492
12*
1851
1,701,686
6067
64,101
80,374
5,108
149,583
65,458
84,125
63,746
2
1852
1,747,167
6067
70,445
75,243
6,297
151,995
77,009
74,986
19,692
2
1853
1,760,604
60.67
72,150
86,085
6,487
164,722
90,636
74,086
19,692
2
1854
1,780,062
60 67
68,218
87,228
7,241
162,687
107,114
55,573
nil.
nil.
1855
1,784,600
60 67
72,076
102,846
7,473
182,395
108,732
73,663
"
"
1856
1,784,146
60 67
69,700
97,127
7,481
174,308
98,125
76,183
"
44
1857
1,784,146
60 67
68,372
100,011
7.453
175,836
104,530
71,306
"
"
1858
2,531.146
90.00
67,522
94,747
9,356
171,625
102,153
69,472
"
"
1859
2,531,146
90.00
70,744
110,596
10,782
192,122
133,619
58,503
"
"
11 Y'rs.
19,839,609
684.75
702,879
920,344
72,005
1,695,228
962,057
733,171
230,622
Average
1,803,601
62.25
63,898
83,668
6,546
154,112
87,460
66,652
10,966
2
# Nine per cent of this in stock at par
10
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7t
VERMONT-RUTLAND AND BURLINGTON.
RUTLAND AND BURLINGTON RAILROAD.
(Financial year ending 31st August, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
Harrison Fay
Boston, Mass.
D. A. Smalley
Burlington, Vt.
H. E. Stoughton
"
"
I. B. Bowdish
"
"
John A. Conant
Burlington, Vt.
E. A. Chapin
Rutland, "
THOMAS THACHER, President
Boston, Mass.
G. B. GIBBONS, Treasurer
Rutland, Vt.
E. A. CHAPIN, Superintendent.
"
"
Trustees under 1st Mortgage
JAMES CHEEVER and SAMUEL HENSHAW.
"
"
2d
"
SAMUEL HENSHAW and THOMAS THACHER.
PRINCIPAL OFFICE
RUTLAND, Rutland Co., Vt.
LENGTH OF RoAD-Bellows Falls to Burlington
119.54 miles.
No second track. Sidings, turnouts, etc., about 16 miles.
ROLLING STOcK-Locomotive Engines
26
Cars :-Passenger, 1st class, 16; 2d class, 2; baggage. express
and mail, 5; covered freight and cattle, 443; platform, 75;
(all 8-wheel)-other freight, 12, and gravel, 20
573
The Rutland and Burlington Railroad Company was chartered under the title
of the Champlain and Connecticut River Railroad Company on the 1st Nov.,
1843. The name of the Company was changed by a supplementary act
passed on the 6th Nov., 1847. The capital was to be $1,000,000, to be in-
creased to an amount sufficient to complete the road. Its construction was
commenced in May, 1847. The first section of 14 miles from Bellows Falls
to Chester was opened in June, 1849, and the whole road to Burlington at
the close of the same year. In November, 1853, in consequence of the in-
ability of the Company to meet the interest on its mortgage bonds, the road
passed into the hands of trustees, where it still remains.-(See acc't. of trustees.)
SHARE CAPITAL-$2,233,376, in $100 shares, as follows—
Eight per cent. Preferred Share- Capital
$382,700
The "8 per cent. shares" are a part of $600,000, issued in 1850. On these
the interest was guaranteed by, the Company for 10 years, and paid up to '53.
Six per cent. Preferred Share- Capital.
$608,176
The "6 per cent. shares" were created by vote of the stockholders, at a
special meeting, in Dec., 1851. They were issued in exchange for equal
amounts of the old stock and 6 per cent. bonds. Dividends paid up to 1853.
Ordinary Share-Capital
$1,242,500
FUNDED DEBT-$3,139,900 as follows-
1st Mortgage, 7 per cent. coupon bonds
$1,800,000
-dated 1st Feb., 1851, and payable, principal 1st Feb., 1863, and coupons
semi-annually, 1st Feb. and 1st August, at Boston.
2d Mortgage, 7 per cent. coupon bonds
$913,500
-dated 1st Aug., 1853. and payable, principal 1st Feb., 1863. and coupons
semi-annually, 1st Feb. and 1st Aug., at the same place.
3d Mortgage, 7 per cent. coupon bonds
$426,400
-dated 1st Aug., 1854, and payable, principal 1st Feb., 1863, and coupons
semi-annually, 1st Feb. and 1st Aug., at the same place.
Provision was made in the 2d and 3d mortgages for an issue of $1,200,000
under each.
Digitized by Google
VERMONT-RUTLAND AND BURLINGTON.
75
FLOATING DEBT-$1,013,764: as follows-
Notes payable
$589,166
Dividends 8 per cent. stock
$8,332
Six per cent. bonds (old)
296,500
Dividends 6 per cent. stock
728
Interest bonds
23,900
Mortgage Bonds coupons
354
Interest scrip
17,199
Sundry accounts
77,585
CosT OF ROAD AND EQUIPMENT-$6,199,599 : in detail as follows-
Grading and masonry
$2,358,324
Passenger, freight and other cars.
$366,641
Superstructure
949,745
Locomotives
175,164
Lands, land-damages, etc
234,415
Tools
14,470
Stations, buildings, etc
238,652
Incidentals
393,098
Bridges
116,670
Interest
769,572
Engineering
91,901
Discounts
590,945
INCOME ACCOUNT FOR THE YEAR ENDING 31sr AUGUST, 1859.
Receipts-
Disbursements-
Passengers
$123,199
Maintaining roadway
$85,524
Freight
197,974
Repairs of machinery
63,891
Mails, express, etc
33,115
Operating expenses
123,312
Balance of net earnings
81,561
Total
$354,288
Total
$354,288
Statement of the account of the Trustees with the road from 20th Nov.,
1853, to Sept. 1st, 1859 :
Total net earningsfrom 20th Nov ,1853,
Coupons No. 6, due 1st Feb, 1954
$63,000
to 31st Aug., 1858
8284,961
Coupons No. 7, due 1st Aug., 1854
57,536
Net earnings in 1858-9
81,561
Materials, fuel, etc., on hand
61,556
Real estate
20,091
Rolling stock, tools, etc.
45,233
Cash on hand
44,922
Due from connecting roads
74,174
Total
$366,522
Total
$366,522
GENERAL LEDGER BALANCE SHEET, 1ST SEPT, 1859.
Cr.
Dr.
Capital (shares)
$2,233,376
Construction
$3,989,708
Funded Debt
3,145,001
Equipment
556,276
Floating Debt
1,008,663
Incidentals
293,098
Notes convertible into 3d Mortgage
Interest
769.572
bonds.
5,101
Discounts
590,945
Vermont Valley Railroad Shares
6,750
Northern Telegraph Shares
2,000
Real estate
34,174
Steamboat and barges
57,754
8 per cent. Preferred Stock
40,000
Plattsburg and Montreal RR. shares.
26,355
Notes receivable
25,509
Total
$6,392,141
Total
86,392,141
COST, EARNINGS, EXPENSES, ETC., YEARLY.
Cost
Mile-
Gross Earnings
Operating
Net
Div.
Year. of Road.
age.
Passengers.
Freight.
Mails, etc.
Total.
Expenses.
Earnings.
1851.
$4.343,441
120
$133,413
$127,756
$16,242
$277,411
$100,445
$176,966
nil.
1852.
4,847,401
120
131,890
179,481
13,419
324,790
197,735
127,055
"
1853.
5,477,466
120
181,133
237,240
77,024
495,397
285,967
209,430
"
1854.
5,803,000
120
184,309
202,235
27,880
414,424
338,522
75,902
"
1855.
6,188,600
120
184,309
202,235
27,880
414,424
338,522
75,902
"
1856.
6,188,600
120
217,972
247,116
31,352
496,440
446,929
49,511
"
1857.
6,188,600
120
155,011
202,852
24,761
382,624
306,904
75,720
1.
1858.
6,188,600
120
122,641
183,090
26,583
332,314
290,528
41,786
"
1859.
6,188,600
120
123,199
197,975
33,114
354,388
272,726
81,562
"
$51,414,308
1080
1,433,877
1,779,980
278,255
3,492,112
2,578,278
913,834
"
Ave.
5,712,700
120
159,320
197,775
30,917
388,012
286,475
101,537
"
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76
VERMONT-RUTLAND AND WASHINGTON.
RUTLAND AND WASHINGTON RAILROAD.
(Financial year ending 31st August, 1859.)
THOMAS H. CANFIELD, President
Burlington, Vt.
FREDERICK E. WOODBRIDGE, Managing Trustee
Rutland, "
TRUSTEES-G. G. Bates, Boston, and A. J. Cowing, New York City.
PRINCIPAL OFFICE.
RUTLAND, Rutland Co., Vt.
LENGTH OF RoAD-Rutland, Vt., to Salem, N.Y
44.73 miles.
Second track, none. Sidings, turnouts, etc., 3.34 miles.
Leased Road-Troy and Rutland, Eagle Bridge to Salem
17.27 miles.
ROLLING STocK-Locomotive engines
10
rs :-passenger, 6; baggage, express and mail, 2; freight, 198
206
The Rutland and Washington Railroad Company was chartered on the 23d
November, 1847. That section of the road in New York north of Salem
was constructed under the charter of the Troy and Rutland Company. The
line was completed on the 9th February, 1852. The Troy and Rutland
Railroad (which see) is leased to this Company for the whole term of its char-
ter. The road has been operated for several years by the trustees under the
mortgages, the Company having failed to pay the interest on its bonded debt
since 1853. The road was not run from April 1, 1855, to April 1, 1856.
Since the road was opened it has not probably earned any thing more than
running expenses.
SHARE CAPITAL-Authorized, $950,000, in 9,500 $100 shares.
Paid in, - $950,000, in 9,500 $100 shares.
FUNDED DEBT-
1st Mortgage, 6 per cent., coupon bonds
$1,000,000
-dated 1st April, 1855, and payable, principal 1st April, 1875, and coupons
semi-annually, 1st April and 1st October, at the Amer. Exchange Bank, in
New York City. Issued for the purpose of retiring the old bonds and the
payment of the floating debt.
COST OF ROAD AND EQUIPMENT-$1,771,683. No detail.
This amount includes the cost of the Troy and Rutland in New York,
about $350,000. The Company makes no reports, and no general statement
can be given.
INCOME ACCOUNT FOR THE YEAR ENDING 31st AUGUST, 1860.
Receipts-
Disbursements-
Passenger earnings
$60,761
Maintenance of roadway
$46,817
Freight
"
102,815
Repairs of machinery
29,162
Mails, etc.
"
9,250
Operating expenses
59,723
Earnings less expenses
37,124
Total
$172,826
Total
$172,826
Cost, EARNINGS, EXPENSES, ETc., YEARLY.
Cost of
Mile-
Gross Earnings
Operating Earnings, -Div.-
Year.
Road. eto.
age.
Pass'r.
Freight.
Mail.
Total.
Exp.
less exp.
$
p.c.
1856(5mo)
1,771,683
62.00
$26,432
$38,260
$3,833
868.525
$72,080
Loss.
nil. nil.
1857
1,771,683
62.00
67,615
91,980
9,250
168.845
137,029
$36,827
"
"
1858
1,771,683
62.00
67,171
93,108
9,250
174,529
172,963
1,566
"
"
1859
1,771,683
62.00
60,761
102,815
9,250
172,826
135,703
37,123
"
"
4 yrs.
7,086,732
248 00
$221,779
8331.163
$31,580
8584,725
8512,764
$75,516
"
"
Ave.
1,771,683
62.00
55,495
82,791
7,895
146,181
128,191
18,879
"
"
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VERMONT-VERMONT AND MASSACHUSETTS.
77
RUTLAND AND WHITEHALL RAILROAD.
(Financial year ending 31st August, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
Benj. F. Langdon (V.Pres.). Castleton, Vt.
W. W. Cook
Whitehall, N.Y.
Wm. C. Kittredge
Fairhaven, "
G.R.I.Bowdoin
New York City, "
A. W. HYDE, President
Hydeville, Vt.
W. C. KITTREDGE, Treasurer
Fairhaven, "
PRINCIPAL OFFICE
FAIRHAVEN, Rutland Co., Vt.
LENGTH OF RoAD-Main Line, Castleton to State Line of New York
6.88 miles.
Branch Line, to Hydeville
1.51 "
Second track, none. Sidings, turnouts, etc., about 1 mile.
ROLLING STOCK
Supplied by the Saratoga and Whitehall Railroad.
The Rutland and Whitehall Railroad Company was chartered in 1848, and the
road was completed and opened for traffic in 1850. It had been previously
leased to the Saratoga and Whitehall Company of New York, and has since
been operated as an extension of its road. In 1856 the lease was made per-
petual from the 1st May of that year, the lessee to pay a rent for the road and
rolling stock equal to 6 per cent. on the share capital in quarterly instalments,
also the taxes on the property, and to keep the road, etc., in repair. The
rent of the road, from its completion to the 1st November, 1854, was equal
to 7 per cent. on the capital invested. No rent was paid for the next six
months owing to the insolvency of the lessee. The rents have been fully paid
since that time.
SHARE CAPITAL-Authorized and paid in, $255,700, on 2,557 $100 shares.
FUNDED DEBT
None.
FLOATING DEBT
None.
CosT OF ROAD AND EQUIPMENT-$255,700 : in detail as follows—
Main road
$176,000
Depot buildings and turnouts
$4.000
Branch to Hideville
29,700
Two locomotives
16,000
SOUTHERN VERMONT RAILROAD.
(Now a part of the Troy and Greenfield Railroad of Massachusetts.)
The Southern Vermont Railroad Company was chartered on the 13th No-
vember, 1848, and constructed about 8 miles of road which crosses the
southwest corner of Vermont, and connects the New York and Massachu-
setts sections of the line between Troy and Boston. The road was completed
in April, 1859, and leased in perpetuity to the Troy and Boston Company.
In April, 1860, the whole property was purchased subject to the lease by the
Troy and Greenfield Company for $200,000, and paid for in bonds of the
State of Massachusetts loaned to that Company. It was built by contract
for $200,000, payable $50,000 in stock, and $150,000 in the company's bonds.
VERMONT AND MASSACHUSETTS RAILROAD.
(See Vermont and Massachusetts Railroad, Massachusetts.)
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78
VERMONT-VERMONT CENTRAL.
VERMONT CENTRAL RAILROAD
Financial year ending 30th June, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
E. M. Robinson
New Bedford, Mass.
J. P. Clark
Burlington, Vt.
Gardiner Brewer
Boston,
"
John Porter
Hartford, "
E. Blake
"
"
W.C.Smith
St. Albans, "
George M. Dexter
"
"
L. B. Peck
Montpelier, "
GEORGE M. DEXTER, President
Boston, Mass.
W. C. SMITH Treasurer
St. Albans, Vt.
G. MERRILL Superintendent for Trustees
Northfield, "
Trustees of Vermont and Canada Co.-L. BRAINERD, JOSEPH CLARK and J. G. SMITH.
PRINCIPAL OFFICE
NORTHFIELD, Washington Co. Vt.
LENGTH OF RoAD-Windsor to Burlington
119.00 miles.
Vermont and Canada Railroad, Essex Junction to Rouse's Point. 47.00 "
Total mileage operated by trustees
166.00 "
No second track. Sidings, including turnouts, etc., about 71 miles.
ROLLING STocK-Locomotive engines and snow ploughs
42
Cars :-Passenger, 26; baggage, express and mail, 19; freight etc., 734 769
The Vermont Central Railroad Company was chartered on the 31st October,
1843. The construction of the road was commenced in the fall of the same
year. It was opened for public use as follows-from White River Village
to Bethel, 25 miles, on the 26th June; to Roxbury Summit, 46 miles, on the
17th Sept., and to Northfield, 53 miles, on the 10th Oct., 1848; to Montpe-
lier, 63 miles, on the 20th June, 1849; to Middlesex, 691 miles, on the 30th
August; to Waterbury, 75 miles, on the 29th Sept., and to Burlington, 105
miles, on the 31st December. The river section between White River and
Windsor, 14 miles, was opened on the 13th February, 1849.
On the 24th Aug., 1849, the Vermont Central Railroad Company took a
lease of the Vermont and Canada Railroad, then in course of construction,
at an annual rental of 8 per cent. on its cost, (amounting at the present time
to $1,348,500), with the privilege of purchasing the road at cost after 20
years. The provisions of the lease created a mortgage on the Vermont
Central Railroad as security for the payment of rent. The Company soon
after became embarrassed, and on the 28th June, 1852, surrendered the road
to Trustees under the lease, by whom the road has since been operated. De-
fault in the payment of rent was made on the 1st December, 1854, and pay-
ment has not yet been renewed. No payment of interest has been made on
the funded debt of the Company since January, 1854. For several years
past the road has been operated for the benefit of the Vermont and Canada
Railroad Company. The earnings, however, have only slightly exceeded
running expenses and renewals. There has been a long controversy between
the Vermont and Canada and the Vermont Central Railroad Companies with
various propositions for its adjustment, but without success.
The following statement will shew the result of the operations of this road
from 1st July, 1852, to 31st October, 1859, as per statement of the Trustees:
Year. Gross Ear'gs.
Expenses.
Net Ear'gs
Year.
Gross Ear'gs.
Expenses.
Net Ear'gs.
1853
$679,601
$409.780
$269,821
1853-6
$2,955,251
$2,164,192
$791,069
1854
796,379
602,102
194,277
1857
808,328
658,720
149,608
1855 722,326
599,551
122,775
1858
705,838
597,319
108,519
1856 756,945
552,749
204,196
1859 (16mo) 996,507
697,893
298,614
$2,955,251
2,164,182
791,069
Total $5,465,924
4,118,114
1,347,810
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VERMONT-VERMONT CENTRAL
79
The net earnings have been applied as follows
Paid Vermont and Canada stockholders
Paid amount invested in wood and
for rent
$158,940
shop stock on hand
$121,459
Paid 1st Mortgage bondholders interest 275,370
Charged off, as worthless
16,959
Paid 2d
"
"
"
39,445
Balances on hand
86,199
Paid improvement on roads, renewals,
etc
649,438
Total
$1,347,810
SHARE CAPITAL-$5,000,000, in 100,000 shares: as follows—
1st issue
20,000 shares, at $100, representing
$2,000,000
2d "
25,652
"
"
$50,
"
1,282,600
3d "
4,348
"
"
850,
"
217,400
4th "
50,000
"
"
$30,
"
1,500,000
-all of which amounts have been paid in.
FUNDED DEBT-$3,135,700 classified as follows—
1st Mortgage, 7 per cent., coupon bonds
$2,000,000
-dated 1st Nov., 1851, and payable, principal 1st Nov., 1861, and interest
semi-annually, 1st May and 1st Nov., at Boston.
2d Mortgage, 7 per cent., coupon bonds
$1,135,000
-dated 1st July, 1852, and payable, principal 1st July, 1867, and interest
semi-annually, 1st Jan. and 1st July, at the same place. The amount pro-
vided under this mortgage is $1,500,000.
The rent due the Vermont and Canada Railroad Company is a liability
taking precedence of the funded debt.
FLOATING Дввт-$1,016,758.
COST OF ROAD AND EQUIPMENT-$8,402,055 in detail as follows—
Engineering
$115,208
Interest
763,958
Land damage
410,372
Discount on bonds
528,856
Grading
1,799,909
Depots
185,156
Superstructure
84,662
Shop furniture
14,647
Bridging and masonry
A
814,326
Car shop
6,655
Fencing
42,879
Burnettizing ties
42,464
Iron
897,665
Engines and cars
948,557
Incidentals of construction
1,459,988
Tenements
14,932
Wharf at Burlington
46,808
Additions to constructions since 1853
172,670
Incidental expenses
42,641
INCOME ACCOUNT FOR THE YEAR ENDING 30TH JUNE, 1859.
Receipts-
Disbursements-
Passenger earnings
$178,732
Maintaining roadway
$217,829
Freight
"
494,607
Repairs of machinery
148,267
Mail and expenses, etc
28,932
Operating expenses
220,499
Surplus earnings
115,676
Total
$702,271
Total
$702,271
COST, EARNINGS, EXPENSES, Erc.. YEARLY.
Cost.
Mile-
Gross Earnings
Operating Earnings,
-Div.-
Year. of Road.
age. Pass'gers. Freight. Mails, etc. Total.
Expenses.
less exp.
$
p.c.
1850
$5,134,421
117
$159,066
$139 031
$13,895
$311,992
$151,842
$160,150
nil.
nil.
1851
7,153,990
161
147,262
274,965
14,355
436,582
215,881
220:701
"
"
1852
8,530,346
164
171,606
328,471
15,550
515,627
490,596
25,031
"
"
1853.
9,422,281
164
209,838
452,373
17,390
679,601
409,780
269,821
"
"
1854
9,422,281
166
254,727
509,711
31,941
796,379
602,102
194,277
"
"
1855.
9,422,281
166
220,397
476,246
25,683
722,326
599,551
122,775
"
"
1856.
9,752,054
166
210,492
530,968
25,485
756,945
552,749
204,196
"
"
1857.
9,752,054
166
213,565
573,323
21,440
808,328
658,720
149,608
"
"
1858.
9,752,054
166
185,717
493,969
26,152
705,838
567,319
108.519
"
"
1859.
9,752,054
166
178,732
494,607
28,932
702,271
586,595
115,676
"
"
10 ys.88,093,816
1,605
1,951,402
4,273,664
220,823
6,435,889
4,865,135
1,570,754
"
"
Aver.
8,809,381
1651
195,140
427,366
22,082
643,558
486,513
157,075
"
"
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80
VERMONT-VERMONT VALLEY.
VERMONT AND CANADA RAILROAD.
(Financial year ending 31st August, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
H. M. Bates, (V.-Pres.)
Thos. E. Powers,
George M. Brown,
W. H. H. Bingham,
Wm. Parsons,
Sidney Homer.
WILLIAM P. PARROTT, President
St. Albans, Vt.
CHARLES BARRETT, Treasurer
"
"
RECEIVERS-John G. Smith, St. Albans, and Joseph Clark, Milton.
PRINCIPAL OFFICE
Sr. ALBANS, Franklin Co, Vt.
LENGTH OF ROAD-Essex Junction to Rouse's Point
47 miles.
Second track, none. Sidings, turnouts, switches, etc., about 21 miles.
ROLLING STOCK
Supplied by Vermont Central Company.
The Vermont and Canada Railroad Company was chartered on the 31st
October, 1845. The road was designed as a continuation to the northern
boundary of the State of the Vermont Central Road, the line of which ter-
minates at Burlington. To raise the means for its construction, the Vermont
Central took a lease of it for a period of fifty years, agreeing to pay eight per
cent. on its cost, represented at the present time by a share capital to the
amount $1,348,500: the terms of the lease created a first mortgage on the
Vermont Central Railroad. The rent was paid up to, and including, June,
1854, since which nothing has been paid. The whole line is now operated
by the trustees under the lease. The two lines have been worked as one, no
separate account of earnings being kept.-(See Vermont Central.)
SHARE CAPITAL-Authorized and paid $1,348,500, in 13,485 $100 shares.
FUNDED DEBT
None.
FLOATING DEBT
None.
Cosr OF ROAD AND APPURTENANCES-$1 348,500.
VERMONT VALLEY RAILROAD.
(Financial year ending 31st August, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
Alexander Hamilton, Jr. New York, N.Y.
Joel Page
Westminster, Vt.
G. N. J. Bowdoin
"
"
Madison Sloat
Bellows Falls, "
S. M. L. Barlow
"
"
Charles Chapin
Chester, "
HUGH H. HENRY, President
Chester, Vt.
MADISON SLOAT, Superintendent
Bellows Falls, "
JAMES H. Williams, Treasurer
"
"
TRUSTEES-Alexander Hamilton, Jr., Hugh H. Henry, and Governeur Morris.
PRINCIPAL OFFICE
BELLOWS FALLS, Windham Co., Vt.
LENGTH OF RoAb-Brattleboro to Bellows Falls
23.69 miles
Second track, none. Sidings, turnouts, etc., 0.64 mile.
ROLLING STocK-Locomotive engines
4
Cars :-passenger, 4; baggage, express and mail, 2; freight, etc., 52
58
The Vermont Valley Railroad Company was incorporated by an act passed
by the Legislature of Vermont on the 8th November, 1848; and completed
its road in the latter part of the year 1851.
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VERMONT-WESTERN VERMONT.
81
SHARE CAPITAL-Authorized, $500,000. Paid in, $516,164.
FUNDED DEBT-$783,200 : classified as follows—
1st Mortgage, 7 per cent., bonds
$386,000
1st Mortgage, 6 per cent., bonds
$114,000
-dated 1st April, 1850, and payable principal 1st April, 1860, and interest
semi-annually, 1st April and 1st October, in New York City.
The net earnings are applied to the interest on the 1st mortgage bonds,
but have been only sufficient to pay the same up to October, 1856, including
one-half of the coupons due at that date. Proceedings are in progress for
the foreclosure of the mortgage.
2d Mortgage, 7 per cent., bonds
$293,200
-dated 1st October, 1854, and payable, principal 1st October, 1859, and
interest semi-annually, 1st October and 1st April, in New York City.
COST OF ROAD AND EQUIPMENT-$1,301,886: in detail as follows:
Kondway, in gross
$800,000
New side track at Putney
$431
Land, land damages and fences
69,741
Discount on $293,000 bonds
117,280
Engineering
753
Coupons overdue
202,915
Incidental expenses
14,097
Locomotives
27,520
Interest dividend on stock
7,056
Cars
52,091
INCOME ACCOUNT FOR THE YEAR ENDING 31sT AUGUST, 1859.
Receipts-
Disbursements-
Passenger earnings
$20,430
Maintaining roadway
815,766
Freight
"
19,580
Repairs of machinery
5,269
Mail, etc.
"
5,775
Operating expenses
12,818
Salaries of officers and trustees
3,100
Use of track, etc., at Brattleboro
1,667
Balance of earnings
7,268
Total
$45,785
Total
$45,785
The Company makes no report to its stockholders, and no general state-
ment can be given.
Cost, EARNINGS, EXPENSES, ETC., YEARLY.
Cost of
Mile-
Gross Earnings
Operating Earnings
-Div.-
Year.
Road, etc.
age.
Pass'r.
Freight.
Mails.
Total.
expenses.
less
exp.
Am't.
p.c.
1856
$1,301,455
23.69
$22,730
$21,597
$4,870
$49,187
$37,587
$11,600
nil.
nil.
1657
1,301,445
23.69
23,582
22,488
4,853
50,783
38,271
12,512
"
"
1858
1,301,886
23.69
20,837
17,960
5,200
43,998
33,506
10,492
"
"
1859
1,301,455
23.69
20,430
19,580
5,775
45,785
38,520
7,165
"
"
1 yrs
$5,206,241
94 76
$87,579
$91,475
$20,698
$189,753
$147,984
$41,769
"
"
Aver
1,301,560
23.69
21,895
20,369
5,174
47,438
36,996
10,442
"
"
WESTERN VERMONT RAILROAD.
(Financial year ending 31st August, 1859.)
GEORGE BARKER, President; C. M. DAVEY, Receiver
Rutland, Vt.
PRINCIPAL OFFICE
RUTLAND, Rutland Co., Vt.
LENGTH OF Road-Main Line, Rutland to State Line of New York
54.00 miles.
Branch Line, North Bennington to Bennington
5.50
"
Second track, none. Sidings, turnouts, etc., 6.50 miles.
ROLLING STOCK
Supplied by Troy and Boston Company.
The Western Vermont Railroad Company was chartered on the 5th November,
1845. The construction of the road was commenced in October, 1850, and
11
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82
VERMONT-WESTERN VERMONT.
completed from Rutland to Arlington, 41 miles, in December, 1851, and to
the State line of New York, 54 miles, in July, 1852. The Bennington
Branch was completed about two years subsequently. Default having been
made in the payment of the interest on the Company's bonds, the trustees
under the 1st mortgage commenced, in September, 1854, suit for the fore-
closure of the mortgage, and in June, 1855, obtained a decree for the payment
of the arrears then due within one year, and of the accruing principal and
interest within one year from the time they respectively might fall due, fail-
ing which the title to the road and franchise to become absolute in the
trustees. The first instalment under this decree ($16,000) was paid, but the
second, about $124,000, was not paid, and on the 1st January, 1857, the
trustees took possession of the road. On the 16th of the same month the
trustees executed a lease of the road to the Troy and Boston Company for
a term of 10 years, the lessee to keep it in repair and pay for its use $30,000
for the first year, and $36,000 each subsequent year of the term, in monthly
instalments. Under this lease the Troy and Boston Company occupied the
road until the 8th May, 1857, when, on complaint of certain bondholders, the
Supreme Court entered a pro forma decree in their favor and placed the
property in the hands of a receiver pending the suit. The final decision of
the court was in favor of the lessee, and a decree issued re-instating the
Troy and Boston Company, which took possession on the 1st January, 1859
The financial condition of the Company previous to the foreclosure of the
1st mortgage was as follows:
SHARE CAPITAL-Authorized $1,000,000, in 10,000 $100 shares
Paid in,
$331,939 on 3,487
"
FUNDED DEBT-$700,000; in detail as follows—
1st Mortgage, 7 per cent., bonds
$400,000
-dated 1st January, 1851, and payable, principal in 5, 10, 15 and 20 years
in equal instalments, and interest 1st Jan. and 1st July, in New York City.
2d Mortgage, 7 per cent., bonds
$300,000
-dated 2d September, 1852, and payable, principal 1st September, 1862,
and interest semi-annually, 1st March and 1st September.
3d Mortgage, 7 per cent., bonds
$
-dated 1st August, 1853, and payable, principal 1st August, 1860, and in-
terest 1st February and 1st August. This mortgage provided for the sum
of $500,000, none of which was ever sold.
FLOATING DEBT-$331,519.
COST OF ROAD AND APPURTENANCES-$931,729 in detail as follows :-
Graduation and masonry
$346,147
Land, land damages and fences
$56,178
Bridges
24,863
Engineering
20,155
Superstructure, including iron
346,659
Interest account
37,938
Stations, incl. buildings and fixtures
23,423
General and individual expenses
76,366
COST, EARNINGS, EXPENSES, ETC., YEARLY.
Cost of
Mile-
Gross Earnings
Operating Earnings, -Dir.-
Year. Road, etc.
age.
Pass'r.
Freight.
Mails.
Total.
Expenses.
less
exp.
Am't
p.c.
1856 $931,732
59.50
$54,491
$59,911
$10,617
$125,022
$104,233
$20,789
nil. ril.
1857
931,732
59.50
26,299
29,459
11,904
67,662
77,079
Loss.
"
64
1858
600,000
59.50
20,000
25,000
10,859
55,859
56,726
"
"
"
1859 600,000
59.50
36,000
36,000
"
"
4
yrs
3,053,464
238.00
100,790
114,373
33,380
284,543
238,038
46,505
36,000
6
Are..
790,866
59,50
25,197
28,593
8,346
71,136
59,509
19,626
9,000
11
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LAWS OF THE STATE IN REFERENCE TO RAILROADS.
List of all the Railroad Companies chartered in the State of Vermont,
with the dates of the Acts of their incorporation; and also the dates and
abstracts of all laws passed by the Legislature in reference thereto.
The asterisk [*] prefixed signifies that the work of construction has not been commenced.
Corporate Titles.
Date.
Abstracts of Laws.
*ASCUTNEY
Nov. 13, 1849
Act of incorporation.
"
Oct. 29, 1852
Time for commencing construction extended.
*ASHUELOT
Oct. 25, 1850
May extend road into Vermont.
"
Nov. 13, 1851
Act additional to act of 1850.
ATLANTIC & Sr. LAWRENCE
Oct. 27, 1848
Constituted a corporation of Vermont.
"
"
Nov. 14, 1851
Time extended for locating road.
"BELLE WATER & ISLAND POND
Nov. 7, 1855
Act of incorporation.
*BENNINGTON & BRATTLEBORO'
Nov. 9, 1831
Act of incorporation.
64
"
Nov. 10, 1835
Act of incorporation.
"
"
Nov. 6, 1645
Charter renewed and continued.
"
"
Nov. 9, 1849
Act of 6th November, 1845, revived.
"
"
Nov. 23, 1852
Act reviving act of incorporation.
"BENNINGTON & GLASTENBURY
Oct. 31, 1855
Act of incorporation.
*BLACK RIVER
Nov. 6, 1847
Act of incorporation.
BRATTLEBORO' & FITCHBURG
Oct. 31, 1843
Act of incorporation.
"
"
Nov. 6, 1846
Conn. River RR. Co. may sell a part of its road
to the B. and F. Company.
45
"
Oct. 27, 1848
Extends time for completion.
"
$4
Oct. 26, 1849
Authorizes Company to unite with the Ver. &
Mass., etc., under the latter name.
CHAMPLAIN & CONN. RIVER
Nov. 1, 1843
Act of incorporation.
"
"
66
Oct. 31, 1844
May unite with any Co. from N.H. or Mass.
"
"
"
Nov. 5, 1845
May collect toll, but subject to Supreme Court.
"
"
"
Nov. 6, 1847
Changed to Rutland and Burlington, with
authority to construct a branch to Vergennes.
"
&
"
Nov. 9, 1849
May construct a branch from Burlington to St.
Albans, and enter upon and use the V. and
Canada railroad, and vice versa.
"
"
"
Nov. 13, 1850
Supplement to act of incorporation.
CONNECTICUT & PASSUMPSIC RIVER.
Nov. 10, 1835
Act of incorporation.
46
"
"
Oct. 37, 1843
Charter revived: 20 miles to be completed in 5
years, 30 miles in 10 years, and the whole
mad in 15 years.
44
"
"
Nov. 5, 1845
Divided into two companies; divided by White
River: the N. to be called Conn. and Pass.
River, and the S. Connecticut River.
as
"
"
Oct. 20. 1846
No railroad from N. Hamp. to enter from, con-
nect with, or use the road between Passump-
sie River and the town of Fairlee, etc.
"
"
"
Nov. 6, 1847
Connecticut River Railroad may fix its south
terminus at the north terminus of Brattle-
boro' and Fitchburg RR, and may surren-
der to the latter their present right of
building the same south of that point, and
may lease or sell to the B. and F. Co. any
portion of their road south of Williams'
River, etc.
"
"
"
Nov. 14, 1851
May connect with Atlantic and St. Lawrence
"
"
"
Oct. 28, 1858
Act extending time for completion.
*DANVILLE & PASSUMPSIC
Nov. 6, 1845
Act of incorporation.
*DORSET RR. & MARBLE
Nov. 15, 1851
Act of incorporation.
"EAGLE RR. & SLATE
Dec. 6, 1853
Act of incorporation.
"FAIRHAVEN SLATE & RR
Nov.
9,
1855
Act of incorporation
83
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S4
VERMONT-RAILROAD LAWS.
Corporate Titles.
Date.
Abstracts of Laws.
*ISLAND POND & Sr. JOHNSBURY
Nov. 3, 1854
Act of incorporation.
"
"
"
Oct. 27, 1855
Time for completion extended.
*LAKE CHAMPLAIN & OTTER CREEK
Oct. 29, 1838
Act of incorporation.
*LAKE MICHIGAN TO PACIFIC OCEAN.
Nov. 9, 1847
Resolve approving Asa Whitney's plan of a
railroad to the Pacific Ocean.
*LEBANON SPRINGS (N. YORK)
Nov. 23, 1852
Authorized to purchase franchise of New York
and Bennington Railroad Company.
"
"
"
Dec. 1, 1853
Time for construction extended.
*MIDLAND
Nov. 13, 1851
Act of incorporation.
*MISSISQUOI
Nov. 13, 1850
Act of incorporation.
"
Nov, 14, 1851
May connect with Atl. and St. Lawrence RR.
"
Nov. 14, 1856
Time for location and construction extended.
*MONTPELIER & CONNECTICUT RIVER.
Nov. 13, 1849
Act of incorporation.
"
"
"
Nov. 19, 1851
Act to extend charter, etc.
*NEW York & BENNINGTON
Oct. 13, 1851
Act of incorporation.
"
"
Nov. 23, 1852
May sell to Lebanon Springs Company.
"
"
Oct. 31, 1856
Time for construction extended.
"NORWICH & HARTFORD FORWARDING
Nov. 14, 1836
Act of incorporation.
*PERKINSVILLE
Nov. 14, 1856
Act of incorporation.
RUTLAND & BURLINGTON
See Champlain and Connecticut River.
"
"
Nov. 9, 1850
May issue preferred stock.
"
"
Nov. 13, 1850
Repeals act 1849. May extendroad to Swanton.
*RUTLAND & CONNECTICUT RIVER
Nov. 10, 1835
Act of incorporation.
RUTLAND & WHITEHALL
Nov. 9, 1831
Act of incorporation.
"
"
Oct. 26, 1833
Time extended for commencing and completing
"
"
Nov. 6, 1834
Time extended, etc.
"
"
Nov. 1, 1838
Time extended, etc.
"
"
Oct. 24, 1840
Charter revived and continued.
"
"
Nov. 13, 1848
Act of incorporation.
"
"
Nov. 7, 1851
May construct a branch.
RUTLAND & WASHINGTON
Nov. 13, 1847
Act of incorporation.
"
"
Nov. 12, 1849
May construct a branch to the west line of the
State, and connect with any RR. from N. Y.
*SOUTH SHAFTSBURY
Dec. 6, 1853
Act of incorporation.
SOUTHERN VERMONT
Nov. 13, 1848
Act of incorporation.
"
"
Nov. 13, 1849
Act of incorporation revived and continued.
"
"
Nov. 12, 1850
Commissioners to carry act of 1848 into effect.
"
"
Nov. 13, 1854
Time extended for completing.road.
*SUDBURY
Dec. 2, 1853
Act of incorporation.
"SWANTON & HIGHGATE
Nov. 18, 1851
Act of incorporation.
.4
"
Nov. 15, 1853
Time extended for construction.
"
"
Nov. 1, 1855
Time extended for construction.
*UNION
Oct. 25, 1847
Act of incorporation.
"VERGENNES & BRISTOL
Nov. 10, 1835
Act of incorporation.
*VERMONT
Nov. 8, 1832
Act of incorporation.
"
Nov. 6, 1833
Time extended one year.
VERMONT & CANADA
Oct. 31, 1845
Act of incorporation.
"
"
Nov. 15, 1847
Repeals part of sec. 1 of act of incorporation.
"
"
Nov. 13, 1850
May construct a bridge over Lake Champlain.
"
"
Oct. 30, 1858
Time for completing road extended.
"
"
Nov. 5, 1858
Time for completing road extended.
"
"
Nov. 13, 1858
Time for completing road extended.
"
"
Nov. 18, 1858
Seventeen years allowed for completing road.
"
"
Nov. 29, 1S58
Amends act of 31st October, 1845.
VERMONT CENTRAL
Nov. 10, 1835
Act of incorporation.
"
"
Oct. 31, 1843
Act of incorporation (2).
*VERMONT NORTH-EASTERN
Nov. 13, 1850
Act of incorporation.
VERMONT VALLEY
Nov. 8, 1848
Act of incorporation.
"
Oct. 26, 1849
Time extended.
VERMONT & MASSACHUSETTS
Nov. 11, 1850
May issue additional stock.
"
"
Nov. 12, 1858
Authorized to mortgage road.
*WANTASTIQUET
Nov. 13, 1851
Act of incorporation.
"
Nov. 13, 1854
Act to extend charter.
*WEST CASTLETON
Nov. 12, 1852
Act of incorporation.
WESTERN VERMONT
Nov. 5, 1845
Act of incorporation.
"
"
Nov. 6, 1849
Time extended for construction.
*WOODSTOCK
Oct. 26, 1847
Act of incorporation.
"
Nov. 17, 1851
May connect with Rutland and Burlington.
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STATE OF MASSACHUSETTS
AGRICULTURAL BRANCH.
MARLBORO' BRANCH.
AMHERST, BELCHERTOWN & PALMER.
MEDWAY BRANCH.
BERKSHIRE.
METROPOLITAN.
BOSTON AND CHELSEA.
MIDDLESEX.
BOSTON AND LOWELL.
MIDDLEBORO' AND TAUNTON.
BOSTON AND MAINE.
MIDLAND.
BOSTON AND NEW YORK CENTRAL.
NASHUA AND LOWELL.
BOSTON AND PROVIDENCE.
NEW BEDFORD AND TAUNTON.
BOSTON AND WORCESTER.
NEW BEDFORD AND FALL RIVER
BOSTON CITY PASSENGER.
NEWBURYPORT.
BROADWAY.
N. LONDON, WILLIMANTIC & PALMER.
CAMBRIDGE.
NEW YORK AND BOSTON.
CAPE Cod BRANCH.
NEWTON.
CHARLESTOWN.
NORFOLK COUNTY.
CHARLES RIVER.
NORWICH AND WORCESTER.
CHARLES RIVER BRANCH.
OLD COLONY.
CHESHIRE.
OLD COLONY AND FALL RIVER.
CONNECTICUT RIVER.
PETERBORO' AND SHIRLEY.
DANVERS.
PITTSFIELD AND NORTH ADAMS.
DANVERS AND GEORGETOWN.
PROVIDENCE, WARREN AND BRISTOL.
DORCHESTER.
PROVIDENCE AND WORCESTER.
DORCHESTER EXTENSION.
SALEM AND LOWELL.
DORCHESTER AND MILTON.
SOMERVILLE.
EASTERN.
SOUTH READING BRANCH.
EASTON BRANCH.
SOUTH SHORE.
ESSEX.
STOCKBRIDGE AND PITTSFIELD.
FAIRHAVEN.
STONY BROOK.
FALL RIVER.
STOUGHTON BRANCH.
FITCHBURG.
TAUNTON BRANCH.
FITCHBURG AND WORCESTER.
TROY AND GREENFIELD.
GRAND JUNCTION.
UNION.
HAMPSHIRE AND HAMPDEN.
VERMONT AND MASSACHUSETTS.
HARTFORD AND NEW HAVEN.
WALTHAM AND WATERTOWN.
HORN POND BRANCH.
WESTERN.
HARVARD BRANCH.
WEST CAMBRIDGE.
LEXINGTON AND WEST CAMBRIDGE.
WEST ROXBURY.
LOWELL AND LAWRENCE.
WEST STOCKBRIDGE.
MALDEN AND MELROSE.
WORCESTER AND NASHUA.
The Railroad first constructed in Massachusetts, and one of the first in the
United States, was the Granite Railroad, connecting the quarries in the town
of Quincy with the Neponset River, a distance of about three miles. It was
chartered in 1825, and opened in 1827. It was constructed with a flat rail,
3x1 inches, laid upon longitudinal wooden sills, for which stone sills were after-
wards substituted. The road had an inclination of 27 feet to the mile, with
a plane of 380 feet long, having an inclination of 1 to 41. With the exception
of the plane, up which the descending cars drew the empty ones, it was worked
85
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86
STATE OF MASSACHUSETTS.
by horses, and bore a relation to the railroads of the United States similar
to that borne by the tram roads of England to the railways of that country.
It was not, however, till 1830 that public attention in Massachusetts was
seriously turned towards the construction of railroads. In 1831 several
important lines were chartered, among which were the Boston and Lowell,
Boston and Providence, and Boston and Worcester. The construction of
the first was commenced on the 28th November, 1831, and completed and
the road opened to the public on the 26th June, 1835. It is one of the most
productive roads for its length in the United States, and has returned to its
stockholders dividends which have averaged 6.75 per cent. since itscompletion.
The next road opened was the Boston and Providence, the construction
of which was commenced in December, 1832, and completed in June, 1835.
The southerly terminus of the road was changed in 1848, largely increasing
its cost. It has been a productive work, having returned to its stockholders
dividends averaging 5.5 per cent. annually.
The fourth road opened in the State was the Boston and Worcester, the
construction of which was commenced in August, 1832, and completed on
the 3d July, 1835. The road has been uniformly successful and productive,
and has paid dividends averaging 7.40 per cent. for twenty-six years.
In 1836 only one road, the Taunton Branch, was opened. This has
been a successful work, having paid its stockholders dividends averaging 7
per cent. annually. For sixteen years past they have averaged 8 per cent.
No roads were opened in 1837. In 1838, on the 23d December, the
Nashua and Lowell Railroad was completed, its construction having been
commenced in 1837. This road has paid its stockholders dividends averaging
8.25 per cent. annually from its opening. The West Stockbridge Railroad,
a short link of 2.75 miles between the Berkshire and the Hudson and Bos-
ton roads was also opened in 1838. This road has been leased to and worked
by the connecting lines. The Eastern Railroad was opened in 1838 from
Boston to Salem, a distance of 13 miles. This, for many years, was a
productive work, but, in 1854 and '55, largely increased its capital account
for branch lines and other expenditures. No dividends have been paid since
1854. For several years to come a considerable portion of its earnings will
be absorbed by the payment of its indebtedness.
In 1839, a portion of the Western Railroad was brought into use-the
division between Worcester and the Connecticut River, 62.6 miles having been
opened on the 1st October. The object of this important work was to form
a new route between the city of Boston and the New York lines of public
works. It has been eminently successful in the principal object of its con.
struction, the promotion of the manufacturing and commercial interest of
the State, and at the same time productive to its stockholders, having earned
dividends equalling 5.28 per cent., besides accumulating over $2,100,000 in
sinking funds. For the past sixteen years it has paid dividends averaging
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STATE OF MASSACHUSETTS.
87
6.88 per cent. annually The New Bedford and Taunton Railroad, 20.59
miles long, was also opened in 1839. This road paid to its stockholders
dividends averaging 6.4 per cent. annually. The Charlestown Railroad, 1.3
mile long, afterwards united with the Fitchburg, was also opened this year.
In 1840, 34.33 miles were opened: the Western Railroad, 15.01 miles
the Eastern, 2.82 miles, and that part of the Norwich and Worcester, 16.50
miles, which lies in the State of Massachusetts.
In 1841, the Western Railroad was extended to the western boundary of
the State, 40.20 miles
In 1842, only 6 miles were opened-the Charlestown Railroad having
been extended this distance.
In 1843, 26.17 miles were opened, viz: the Berkshire, 21.14 miles, and the
Fitchburg, 5.03 miles. The Berkshire Railroad was leased to the Housator ic
Company, in perpetuity, from the date of its opening, at a rental of 7 per
cent. annually on its cost. The rent has been regularly paid. The Fitch-
burg Railroad has been a successful work, having paid dividends amounting
annually to 5.8 per cent.
In 1844, 44.71 miles were opened. The Fitchburg Railroad was
extended 34.22 miles. The Worcester Branch, designed to connect the
railroads entering the city of Worcester, was opened, 0.55 miles; the Con
necticut River, 4.07 miles, and that portion of the Hartford and New Haven
Railroad lying within the State of Massachusetts, 5.87 miles. The Worcester
Branch was subsequently united with the Worcester and Nashua Railroad.
The Connecticut River Railroad was finally completed in 1848. It has paid
dividends averaging 3.66 per cent. on its common stock.
In 1845, 98.33 miles were opened, viz the Old Colony, 37.26 miles the
Stoughton Branch, 4.07 miles; the Fall River, 12 miles. The Connecticut
River Railroad was extended 17 miles ; the Fitchburg, 10.09 miles; and the
Boston and Maine, 17.91 miles, the new line from Wilmington into the city
of Boston having been completed. The Old Colony and Fall River Rail-
roads have since been united under the name of the Old Colony and Fall
River Railroad. Since the consolidation the new company has paid divi-
dends averaging 51 per cent. annually. The Stoughton Branch, a local
road. has been a productive work, having paid dividends at the rate of 6
per cent. annually.
In 1846, 78.55 miles were opened. The Pittsfield and North Adams, 18.65
miles; and the Lexington and West Cambridge, 6.64 miles, were completed.
The Fall River Railroad was extended 29.83 miles ; the Connecticut River,
17.18 miles ; the Fitchburg, 2.37 miles, and the Boston and Worcester, 3.88
miles. The Pittsfield and North Adams was leased to the Western Railroad
for a period of 30 years from the date of its opening at an annual rental of
6 per cent. on its cost.
In 1847, 91.03 miles were opened, viz: the Vermont and Massachusetts
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STATE OF MASSACHUSETTS.
was opened 21.00 miles; the Providence and Worcester, 25.00 miles; the
Essex, 1.76 mile; the Cheshire, 10.50 miles. The Old Colony Railroad was
extended 7.02 miles : the Fitchburg, 3 miles; the New Bedford and Taunton,
0.95 miles; the Eastern (Gloucester and Salisbury Branches), 16.91 miles:
the Boston and Providence, 3.34 miles, and the Boston and Worcester
(Brookline Branch) 1.55 miles. The Vermont and Massachusetts Railroad
was finally completed in 1850. It has been unproductive to its stockholders.
The Providence and Worcester Railroad, 25 miles of which lie in the State
of Massachusetts, has paid its stockholders dividends averaging 34 per cent.
annually. The Essex Railroad, built by means supplied chiefly by the
Eastern Railroad, has been almost entirely unproductive. The Cheshire
Railroad is specially described among the railroads of New Hampshire.
In 1848, 184.05 miles were opened, viz: the Peterboro' and Shirley,
12.01 miles; the Lowell and Lawrence, 12.35 miles; the Stony Brook,
13.16 miles; the Dorchester and Milton, 3.24 miles; the Cape Cod Branch,
27.80 miles; the Worcester and Nashua, 39.12 miles; the Vermont and
Massachusetts, 27.00 miles; the Essex, 18:60 miles; the Old Colony, 0.74 mile;
the Connecticut River, 14.10 miles; the Fitchburg (Lancaster and Sterling
Branch) 2.71 miles; and the Boston and Worcester (Milford and New-
ton Branches), 13.22 miles. The Peterboro' and Shirley was leased to and
operated by the Fitchburg Railroad Company up to 1860, when it was pur-
chased by that Company for the sum of $132,666. The Lowell and Law-
rence was leased to the Boston and Lowell Company in 1858, for a period of
20 years, at an annual rental of 6 per cent. on its cost. Previous to that
time it had paid its stockholders dividends averaging 3.75 per cent. The
Dorchester and Milton Railroad has been operated by the Old Colony Com-
pany without profit to its stockholders. The Cape Cod Branch, which was
completed in 1854, has paid its stockholders dividends averaging 1.8 per
cent. The Boston and Worcester has paid dividends averaging 7.4 per cent.
In 1849,63 74 miles were completed: the Grand Junction, 6.49; the South
Shore, 11.50, and the Newburyport, 8.55 miles, were opened, and the following
roads were extended--the Cape Cod (Wareham Branch), 1.04 miles; the
Vermont and Massachusetts, 21 miles; the Essex, 1.32 miles; the Fitchburg
(Sterling Branch), 8.32 miles; the Boston and Maine, 3.53 miles; the Boston
and Worcester (the Framingham Branch), 1.99 mile. The Grand Junction
Railroad, the object of which was to connect the railroads entering Boston
with the harbor at East Boston, has proved unproductive. The affairs of
the company are now in the hands of the trustees under its mortgages, and
will probably be wound up by the sale of its real estate, and the abandon-
ment of a portion of the road. The South Shore Railroad has been unpro-
ductive to its stockholders. The Newburyport Railroad has been recently
leased to the Boston and Maine Railroad Company for a term of 100 years.
It has been an unproductive work.
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STATE OF MASSACHUSETTS.
89
In 1850, 103.98 miles were opened. The Fitchburg and Worcester
was opened 13.99 miles; the Norfolk County, 25.96 miles the Salem
and Lowell, 16.83 miles the South Reading Branch, 8.15 miles, and
the Stockbridge and Pittsfield, 21.93 miles. The Newburyport Railroad
was extended 6.03 miles the Peterboro' and Shirley, 2.09 miles, and the
Vermont and Massachusetts, 9 miles. The Fitchburg and Worcester has
been moderately productive, having earned 10 per cent. annually on its cost.
The greater part of its share capital is in preferred stock on which dividends
have been regularly paid. The Norfolk County Railroad has proved an un-
fortunate enterprise, having earned only a very small per centage on its cost.
The road for some time past has been in the hands of trustees. It is now
proposed to merge this into the Midland Company, which has been incor-
porated as the successor to the Norfolk County and the Boston and New
York Central. The plans for the re-organization of these companies, recited
in the statements of their affairs, have not yet been carried out. The Salem
and Lowell Railroad has been recently leased to the Boston and Lowell
Company, at an annual rental of $17,500. It had paid nothing to its
stockholders previous to this lease. The South Reading Branch IS now
owned by the Eastern Railroad Company, though a separate organization is
still maintained. Since its opening it has only paid current expenses. The
Stockbridge and Pittsfield Railroad has been operated since its opening by
the Housatonic Railroad Company of Connecticut, to which it was leased in
perpetuity at an annual rental of $31,409, which is 7 per cent. on its cost.
The rent has been regularly paid.
In 1851, two miles were added to the Fitchburg Railroad.
In 1852, 9.70 miles were opened, viz : the Medway Branch was opened
3.60 miles, and the Charles River Branch, 6.10 miles. The Medway Branch
was leased to the Norfolk County, which was to receive all its earnings for
operating and maintaining it. The Charles River Branch has been merged
into the New York and Boston Railroad, which has thus far been run without
profit.
In 1853, 35.04 miles of railroad were opened, viz the Danvers and
Georgetown, 12.38 miles; the Horn Pond Branch, 0.66 mile, and the Amherst
and Belchertown, 19.50 miles. The Charles River Branch was extended
2.50 miles. The Danvers and Georgetown, which was an unproductive work,
was merged into the Newburyport Railroad in 1855, and with that road has
been leased to the Boston and Maine Railroad Company for 100 years. The
Horn Pond Branch was built for the transportation of ice, and possesses no
public interest. The Amherst and Belchertown, proving unproductive, was
sold upon the foreclosure of a mortgage, and re-organized, with a reduced
capital under its present name, on the 1st January, 1859.
In 1854, the Fairhaven Branch, 15.11 miles, was opened, and the Eastern
extended 14.30 miles. The Fairhaven Branch has been unproductive to its
12
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STATE OF MASSACHUSETTS.
stockholders. The Providence, Warren and Bristol, the greater part of the
line of which lies in Rhode Island, was also opened this year.
In 1855, 75.39 miles were opened, viz: the Agricultural Branch, 15.03
miles; the Danvers, 9.20 miles; the Easton Branch, 3.78 miles; the Hamp-
shire and Hampden, 24.96 miles, and the Middleeboro' and Taunton, 8.03
miles. The Newburyport was extended 12.39 miles. The Agricultural
Branch is leased to and operated by the Boston and Worcester Company.
The Danvers Railroad has been leased to the Boston and Maine for a period
of 100 years. The Easton Branch has been a productive work, having
paid dividends at the rate of 41 per cent. on its cost. The Hampshire and
Hampden Railroad has been leased in perpetuity to the New Haven and
Northampton Company. This road has probably been operated at a loss.
In 1856, 12.99 miles were opened. The Marlboro Branch was opened
3.09 miles, and the Eastern was extended 9.90 miles. The Marlboro Branch
has been leased to the Fitchburg Railroad at a rental of one-half the gross
receipts.
Since 1856 no addition has been made to the mileage of Railroads in the
State, with the exception of the City Passenger or Horse Railroad.
CITY PASSENGER OR HORSE RAILROADS.
Since the opening of the first city passenger railroad in the city of Boston,
rapid progress have been made in the construction of these works. They
now embrace a mileage of 38.94 miles, with a nominal cost of $1,604,990, or
$41,200 per mile. This sum does not include the equipment of the roads.
The gross earnings, in the aggregate, exceed 45 per cent. of their cost. The
dividends paid average 81 per cent. on their aggregate share capitals. The
nominal cost of the Boston City railroads has been moderate, compared with
those of New York, though in the cost of the former is undoubtedly em-
braced a very large amount of fictitious capital.
The following statement will show the dates of opening, and also the
mileage, cost, gross and net earnings, and dividends of the city passenger or
horse railroads in Boston and its vicinity, for 1859 :
Mile-
Cost
Gross
Not
Dividends
Roads.
Opened.
age.
of Road.
Earnings.
Earnings.
Amount.
p.o.
Boston and Chelsea
1858
2.18
$140,000
$2,800
$2,800
$2,800
2
Broadway
1359
2.56
53,403
4,272
4,272
4,110
8
Cambridge
1856
4.80
481,377
42,176
42,176
27,000
9
Dorchester
1857
479
118,150
8,570
7,886
5,445
8
Dorchester Extension
1859
1.38
12,000
Malden and Melrose
1858
3.41
57,680
137,539
8,577
7,000
3f
Metropolitan
1856
3.34
291,839
306,443
46,069
45,000
10
Middlesex
1857
3.49
295,100
24,146
23,608
23,608
8
Newton
1858
2.87
23,442
900
900
900
6
Somerville
1858
3.89
59,500
8,852
316
Waltham and Watertown
1857
2.13
19,700
1,500
1,500
1,500
9
West Cambridge
1857
1.56
12,250
1,080
1,080
1,080
9
West Roxbury
1857
2.54
40,558
3,312
3,248
3,232
8
Union (Transportation)
194,542
11,322
16,000
10
Total
38.94
$1,604,999
$733,132
$153,554
8140,337
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STATE OF MASSACHUSETTS.
91
STATEMENT, showing the Share Capital and Debts of the several Railroad Companies of the
State of Massachusetts, with the amount of productive and unproductive capital in each
Corporate Titles of
Share Capital
Funded
Total Indebtedness
Companies.
Amount.
Productive.
Unprod.
Debt.
Amount.
Productive. Unprod.
Agricultural Branch
$203,621
$
$203,621
$97,500
$105,800
$105,800
$
Amberst, Belchertown
& Palmer
85,000
85,000
Berkshire
600,000
600,000
Boston & Lowell
1,830,000
1,830,000
440,000
445,365
445,365
Boston & Maine
4,076,974
4,076,974
Boston & Providence
3,160,000
3,160,000
174,220
174,220
174,220
Boston & Worcester
4,500,000
4,500,000
500,000
529,595
529,595
Cape Cod
681,690
681,690
190,000
229,499
229,499
Connecticut River
1,591,100
1,591,100
252,500
252,500
252,500
Danvers
65,120
65,120
84,500
162,121
125,000
37,121
Dorchester & Milton
73,340
73,340
36,900
42,950
36,900
6,050
Eastern
2,353,400
2,853,400
2,030,500
2,691,010
2,091,010
Easton Branch
49,325
49,325
Essex
299,107
299,107
280,261
477,689
214,046
263,643
Fairhaven Branch
228,657
228,657
256,464
256,464
Fitchburg
3,540,000
3,540,000
100,000
100,000
100,000
Fitchburg & Worcester
214,296
186,800
27,496
62,900
63,200
63,200
Hampshire & Hampden
292,950
292,950
303,014
360,079
200,000
160,079
Horn Pond Branch
2,000
2,000
13,238
13,238
Lex. & W. Cambridge.
241,200
241,200
1,500
1,500
1,500
Lowell & Lawrence
200,000
200,000
100,000
100,000
100,000
Marlboro' Branch
60,546
60,546
5,453
5,453
Medway Branch
29,000
29,000
3,554
3,554
Middleboro' & Taunton
148,067
148,067
10,300
10,300
Midland
1,301,400
1,301,400
10,414
10,414
Nashua & Lowell
600,000
600,000
N. Bedford & Taunton
500,000
500,000
19,800
19,800
Newburyport
220,240
220,240
221,600
433,293
300,000
133,293
New York & Boston
223,176
223,176
175,000
177,853
177,853
Norfolk County
414,350
414,350
414,350
Old Colony & Fall Riv .3,015,100
3,015,100
134,500
195,400
195,400
Peterboro' & Shirley
263,700
132,666
131,034
Pittsfield & N. Adams.
450,000
450,000
Providence & Worcest
1,510,200
1,510,200
300,000
300,000
300,000
Salem & Lowell
243,305
243,305
226,900
227,216
227,216
S. Reading Branch
209,532
209,532
South Shore
259,685
259,695
153,290
156,111
156,111
Stockbridge & Pittsfi'd
448,700
448,700
Stony Brook
267,300
267,300
Stoughton Branch
85,400
85,400
Taunton Branch
250,000
250,000
3,000
3,000
Troy & Greenfield
385,206
395,206
219,000
228,854
228,854
Vermont & Massa-
chusetts
2,214,225
2,214,225
1,003,880
1,003,880
1,003,880
Western
5,150,000
5,150,000
6,125,520
6,334,245
6,334,245
West Stockbridge.
39,600
39,600
Worcester & Nashua
1,141,000
1,141,000
194,500
195,362
195,362
CITY PASSENGER RAILROADS.
Boston & Chelsea.
140,000
140,000
Broadway
53,600
53,600
6,454
6,454
Cambridge
300,000
300,000
174,000
174,000
174,000
Union
160,000
160,000
26,058
69,407
69,407
Dorchester
87,900
87,900
Dorchester Extension
12,000
12,000
233
233
Malden & Melrose
200,000
200,000
200,526
67,227
67,227
Metropolitan
470,000
470,000
102,491
102,491
Middlesex
295,100
295,100
28
28
Newton
26,000
26,000
Somerville
68,000
68,000
650
650
Waltham & Watertown
17,200
17,200
West Cambridge
11,350
11,350
900
900
West Roxbury
40,400
40,400
Total
45,684,712
35,531,915
10,152,797
14,212,919
15,545,705
14,352.902
1,192,803
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92
STATE OF MASSACHUSETTS.
The railroads of the State of Massachusetts present results much more
favorable than those of any other northern State, (with the exception of New
Jersey), in the ratio of productive to unproductive capital invested in them,
and in the amount of dividends paid. Of the total liabilities of all the com-
panies, amounting to $61,230,417, interest and dividends were paid the past
year on $49,884,817, leaving as unproductive, $11,345,600.
The aggregate earnings of all the railroads of the State have been
$124,566,121, of which $66,591,906 have been received for transportation of
passengers; $50,884,263 for transportation of freight; $7,079,952 for mails and
from miscellaneous sources. The current expenses have been $68,893,377,
leaving $56,672,744 as net earnings. The amount paid in dividends has been
$34,230,165. The ratio of gross earnings upon the cost of the road has
been 14.13 per cent. ; current expenses, 7.72 per cent.; net earnings, 6.41
per cent. The dividends paid have averaged 5.09 per cent. on the aggregate
share capitals of all the roads.
These results, considering the period embraced of 25 years, and including
all the roads in the State, are very favorable. There are few investments
that have paid better than those made in the leading roads of the State.
Massachusetts is the only one of the New England States in which rail-
roads, as a rule, have been productive investments. This is owing in a great
measure to the pursuits of its people, who are mostly engaged in commerce
and manufactures. Railroads constructed in such portions of New England as
are devoted to agriculture have generally proved failures. In Massachusetts
only is found a population sufficiently dense to afford an adequate support
to the necessarily expensive roads of the North Eastern States. There is
probably no State, the people of which contribute so largely to the support
of railroads as those of Massachusetts. The receipts of all its roads for the
past 10 years have averaged $8 per head. A similar ratio for the whole
country would swell the receipts of all the railroads of the country to
$250,000,000, or twice their present earnings.
It is a remarkable fact that the cost, per mile, of the railroads of this
State has not increased for the past 10 years. The construction accounts of
nearly all the leading roads of the State have been closed for many years.
In the condensed statement, the earnings of the Albany and West
Stockbridge, in New York; the Eastern, and Boston and Maine, in New
Hampshire, are included.
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RAILROADS IN THE STATE OF MASSACHUSETTS.
STATEMENT showing the Share Capital, Indebtedness, Cost, Mileage, Receipts for transportation of Passengers, Receipts for transportation of
Freight, Receipts for transportation of Mails, Operating Expenses, Net Earnings, and Dividends paid by the Railroad Companies
of the State of Massachusetts, for each year, since the opening of the first road in 1835
Capital Account
Cost of
Length
Gross Earnings
Operating
Earnings
Amount
Year.
Share
Funded
Floating
Total
Road &
of
Passenger
Freight
Mail, etc.,
Total
Expenses
less
of
Capital.
Debt.
Debt.
Capital.
Equipment.
Road.
Earnings.
Earnings.
Earnings.
Earnings.
& Repairs.
Expenses.
Dividend.
Year
1835
$3,950,000
$22,795
$3,972,795
$3,972,795
113.65
$224,874
$62.225
$3,287
$290,386
$148.943
$141,943
$70,000
1835
1836
4,389,925
100,000
29,999
4,519,924
4,495,570
127.75
369,601
129,334
-4,004
502,939
275,539
227,400
80,000 1836
1837
4,843,430
100,000
40,006
4,983,436
5,029,370
127.75
464,603
218,280
4,868
687,751
384.444
303,307
293,356 1837
1838
6,264,441
395,000
79,744
6,739,185
6,818,956
175.91
522,926
260,753
35,209
818,888
380,767
438,121
369,812 1838
1839
7,762,716
1,755.000
82,931
9,600,647
8,968,419
225.18
695,967
337,657
39,709
1,073,333
586,439
486,894
344,560 1839
1840
9,426,402
2,213,555
87,342
11,727,299
11,775,595
318.10
844,045
388,572
42,769
1,275,386
715,073
560,313
533,757
1840
1841
10,899,614
4,350,000
189,286
15,438,900
15,600,031
391.15
1,113,051
489,043
66,910
1,669,004
972,276
696.728
591,658 1841
1842
15,110,454
4,999,556
201,717
20,311,727
19,066,671
434.42
1,273,257
721,074
84.236
2,078,567
1,115,342
963,225
704,013
1842
1843
15,737,229
4,999 556
282,177
21,018,962
19,624,296
441.92
1,279,978
804,501
81,137
2,165,616
1,124,958
1,040.658
686,453
1843
1844
16,032,577
5,699,556
325,529
22,057,662
21,135,726
485.60
1,586,468
1,017,983
88,930
2,693,381
1,292,595
1,400,786
892,900 1844
1845
17,326,945
5,699,556
487,573
23,314,074
23,704,998
570.34
1,815,217
1,329,358
125,199
3,259,774
1,552,338
1,707.436
1,064.043
1845
1846
20,429,334
5,989,218
1,512,892
27,931,444
27,614,871
681.21
2,239,792
1,591,777
151,360
3,982,929
1,941,312
2,041,617
1,472,111
1846
1847
24,289,060
7,437,230
2,571,842
34,298,132
33,922.117
760.37
2,691,717
2,319,482
206,999
5,218,198
2,600,309
2,617,889
1,859,303
1847
MASSACHUSETTS. STATE OF
1848
34.801,944
8.001,338
2,127,940
44,931,222
43,859,313
947 36
3,181,659
2,463.711
231,801
5.877,171
2,986,592
2,890,579
2,123,555
1848
1849
39,148,781
9,371,550
1,973,410
50,793,741
49,822,134
1,047.39
3,379,115
2,589,538
302,951
6,271,604
3,269,541
3,002,063
2,046,999
1849
1850..
40,760,782
9,590,997
2,641,545
52,993,324
51,644,808
1,125.10
3,616,516
2,692,425
383,779
6,692,720
3,310,478
3,382,242
2,095,315
1850
1851
40,987,201
10,092,009
2,821,162
53,890,372
52,729,112
1,167.13
3,821,675
2,831,824
401,315
7,054,814
3,619,119
3,435,695
2,271,933
1851
1852.
42,127,313
10,629,817
3,072,501
55,829 631
54,218,711
1,178.66
3,997,616
3,151,322
444,777
7,593,715
4,097,112
3,496,603
2,269,511
1852
1853.
43,703,145
11,417,554
4,011,709
59,132,408
57,615,918
1,183 92
4,397,637
3,371,659
501,129
8,270,425
4,615,107
3,655,318
2,222,197
1853
1854..
44,922,704
11.903,376
4,335,403
61,161,483
59,135,109
1,261.30
4,745,958
3,833,499
635,816
9,215,273
5,582,932
3,632,341
2,176,577
1854
Digitized by
1855
45.567,376
13,949,234
4,014,503
63,531,113
61,835,726
1,348.46
4,764,558
3,929,575
596,148
9,290,281
5,853,586
3,436,695
1,533,591
1855
1856..
45,600,483
13,839,324
3,155,505
62,595,312
61,652,958
1,361.03
5,036,680
4,432,935
816,338
10,285,953
6,060,070
4,225,883
1,940,450
1856
1857.
45,899,403
13,469,787
2,988,876
62,358,066
61,848,309
1,371.13
5,169,656
3,975,242
589,423
9,734,321
5,882,020
3,852,301
2,203,889
1857
1858..
45,442,704
13,702,496
1,973,886
61,119,088
62,312,177
1,377.22
4,544,015
3,650,905
639,872
8,934,792
5,125,862
3,708,930
2,149,200
1858
1859.
45,684,712
14,212,919
1,332,786
61,230,417
62,527,333
1,393.16
4,627,315
4,291,599
601,986
9,520,900.
5,302,723
4,218,177
2,234,977
1859
Google
25 yrs.
671,308,675
183,918,628
40,363,061
895,590,364
880,931,023
19,615.21
66,591,906
50,884,263
7,079,952
124,566,121
68,893,377
55,672,744
34,230,165
25 yrs.
Aver.
26,852,347
7,356,745
1,614,522
35,823,614
35,237,241
784.61
2,660,076
2,035,370
283,198
4,978,644
2,755,735
2,222,909
1,369,206
Aver.
93
RAILROADS OF THE STATE IN DETAIL.
AGRICULTURAL BRANCH RAILROAD.
(Financial year ending 30th November, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
Cyrus Gale
Northborough, Mass.
Stephen Morse
Northborough, Mass.
Sullivan Fay
Fayville,
"
John Wenzell
"
"
Wilder Bush
Northborough,
"
William F. Ellis
"
"
J.S. Witherbee
"
"
Ivers Phillips
Worcester,
"
IVERS PHILLIPS, President
Worcester, Mass.
SULLIVAN FAY, Secretary and Treasurer
Fayville, "
PRINCIPAL OFFICE
FRAMINGHAM, Middlesex Co., Mass.
LENGTH OF ROAD-( Projected), Framingham Centre to Sterling
28.36 miles.
(Completed), Framingham Centre to Northborough 15.03
"
Sidings and other tracks, excepting main line and branches, 0.95 mile.
The Agricultural Branch Company was chartered on the 26th April, 1847.
The road was placed under contract for construction on the 20th October,
1852, and completed from Framingham Centre to Northborough on the 1st
December, 1855. On the 23d April, 1853, an agreement to lease the road to
the Boston and Worcester Railroad Company had been signed, and was now
ratified, that Company to have possession of and operate the road for a term
of 20 years, and to pay as rent therefor to the Branch Company, in semi-annual
payments, one-third the gross earnings of the leased road and of the busi-
ness originating and terminating thereon, excepting Framingham Centre, the
joint receipts for the business of that station being held as the business of
the Boston and Worcester Company. This rent, however, was not to ex-
ceed 6 per cent. on the cost of the road; but the lessee guaranteed absolutely
6 per cent. on $60,000..
SHARE CAPITAL-Authorized, $480,000, in 4,800 $100 shares.
Paid in, - 203,622, on 1,673
"
FUNDED DEBT-Described as follows—
1st Mortgage 6 per cent. coupon bonds
$97,500
-dated 1st July, 1856, and payable, principal 1st July, 1865, and interest
semi-annually, 1st January and 1st July, at the Northborough Bank. The
total amount provided for in the mortgage was $125,000.
FLOATING Девт-$8,300.
COST OF ROAD AND EQUIPMENT-8350,228 : in detail as follows-
Graduation and masonry
$108,675
Land, land-damages, and fences
$22,926
Wooden bridges
2,355
Engineering
9,475
Superstructure, including iron
119,042
Rolling stock
(None.)
Stations, buildings and fixtures
9,013
Agencies and other expenses
78,741
Received rent for the year ending 30th Nov., 1859
$14,124
The amounts paid on account of construction to the end of the following
years was thus :-1853, $10,810; 1854, $137,936: 1855, $241,069; 1856
$289,419; 1857, $312,828; 1858, $329.921; and 1.859, $350,228.
The receipts for rent of road under the lease have been as follows
1856, $11,683; 1857, $10,918; 1858, $12,287 and 1859, $14,124.
94
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MASSACHUSETTS-AMHERST BELCHERTOWN AND PALMER.
95
AMHERST, BELCHERTOWN AND PALMER RAILROAD.
(Financial year ending 30th November, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
John Leland.
Amherst, Mass.
Charles Adams
Amherst, Mass.
Edward Dickinson
"
"
Calvin Bridgman
"
"
L. M. HILLS, President
Amherst, Mass.
J. S. Adams, Treasurer and Secretary
"
"
W. DIXEY, Superintendent
"
"
PRINCIPAL OFFICE
AMHERST, Hampshire Co., Mass.
LENGTH OF RoAD-Palmer to Amherst
19.50 miles.
Sidings and other track, excepting main line, 0.39 mile.
ROLLING STOcK-Locomotive engines
1
Cars:-Passenger, 2; baggage, 2; freight, 10 gravel, 2
16
The Amherst and Belchertown Railroad Company was chartered in 1850. The
road was placed under construction on the 23d April, 1852, and completed
and opened for public use on the 9th May, 1853. In 1857, the Company
failed to pay the interest on its bonded debt, and on the 1st January, 1858,
the Trustees under the mortgage took possession. On the 14th October of
the same year the road was sold at auction, and purchased by the bond-
holders for $85,000. On the 23d November following the purchasers formed
themselves into a corporation under the title of the Amherst, Belchertown
and Palmer Company and on the 1st January, 1859, the Trustees trans-
ferred the road to the new organization.
SHARE CAPITAL-Authorized, $85,000. Original Capital, $195,101.
FUNDED DEBT-None. Of the old Company, $85,000.
COST OF ROAD AND EQUIPMENT-(30th Nov., 1857), $295,337 : as follows—
Superstructure, including iron
$219,659
Engineering
$1,911
Stations, buildings and fixtures
9,231
Rolling stock
17,975
Land, land-damages and fences
27,982
Agencies and other expenses
18,578
The construction account is now stated at $86,200.
INCOME ACCOUNT FOR THE YEAR ENDING 30TH Nov., 1859.
Receipts-
Disbursements-
Passenger earnings
$9,139
Maintenance of way
$2,650
Freight
"
12,992
Repairs of rolling stock
1,868
U. S. mail
=
972
Operating expenses
13,225
Rents, express, etc.
570
Dividend of 6 per cent. on $85,000
5,100
Surplus income.
830
Total
$23,673
Total
$23,673
COST, EARNINGS, EXPENSES, ETC., YEARLY.
Cost
Mile-
Gross Earnings
Operating
Net
-Div.-
Year. of Road.
age.
Pass'gers. Freight. Mails, etc. Total.
Expenses.
Earnings.
$
p.c.
1853
$263,743
19.50
(Included in New London, Williamantic & Palmer Returns.) nil.
nil.
1854 290,077
19.50
$8,533
$8,631
$947
$18,111
$13,283
$4,828
.6
"
1865 293,910
19.50
13,227
12.952
1,236
27,415
22,670
4,745
"
"
1856 294,743
19.50
8,537
10,713
1,003
20,253
16,737
3,516
"
"
10,399
1,438
22,690
17,343
5,347
"
"
1857
295,337
19.50
10,853
1858 295,337
19.50*
10,001
13,276
1,101
24,378
15,187
9,190
"
"
1859
86,200
19.50
9,139
12,992
1,542
23.673
17,743
5,930
5,100
6
6 yrs.$1,555,604
117.00
60,290
68,963
7,267
136,520
102,963
33,556
5,100
Aver 259,267
19.50
10,048
11,493
1,211
22,753
17,160
5,593
850
# Eleven months' operations.
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96
MASSACHUSETTS-DERKSIHIRE.
BERKSHIRE RAILROAD.
(Financial year ending 30th November, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
Charles Hunt
Bridgeport, Ct. I Oliver Peck
Bridgeport, Ct.
CHARLES W. HOPKINS, President
Bridgeport, Ct.
LENGTH OF RoAD-West Stockbridge to Connecticut line
21.14 miles,
ROLLING STOCK-None. Owned by Housatonic Company.
The Berkshire Railroad Company was chartered in 1837. Construction was
commenced in February, 1841, under contract for $250,000, and to be com-
pleted by the 22d May, 1843. On the 1st December, 1842, however, the
road was SO far completed that the cars of the Housatonic Company passed
over its whole length; and on the 11th January, 1843, the line was leased to
that Company in perpetuity, at 7 per cent. on its cost. On the 6th February,
1844, the Company accepted a lease of the West Stockbridge Railroad, in
conjunction with the Hudson and Berkshire Company, and transferred its
rights to that road to the Housatonic Company. On the 18th December,
1845, the Berkshire Company contracted with the Housatonic Company to
have its road laid with heavy iron, for which purpose its capital was increased
$250,000, and the work was completed during the next year. On the 23d
June, 1847, a further contract was made with the Housatonic Company
under which this Company advanced $100,000 for the purchase of rolling
stock. On all these sums the same rate of interest (7 per cent.) is paid in
monthly instalments, and the proceeds are divided among the shareholders
quarterly. The Company also holds 80 shares of its own stock, the divi-
dends on which are sufficient to pay all current expenses.
SHARE CAPITAL-Original amount, $250,000, in 2,500 $100 shares.
Increased, 1845, 250,000, in 2,500
"
"
1847, 100,000, in 1,000
"
-making a total of $600,000, on which there is divided $42,000 per annum.
FUNDED OR FLOATING DEBT-None.
COST OF ROAD AND EQUIPMENT-$600,560 in detail as follows—
Material and construction
$500,000 I Passenger and baggage cars
$100,000
Agencies and other expenses
650
INCOME ACCOUNT FOR THE YEAR ENDING 30TH Nov., 1859.
Receipts-
Disbursements-
Rent 7 p. c. on $600,000
$42,000
Dividends on Share Capital
$42,000
Dividend 7 p. c. on $8,000
560
Current expenses
560
Total
$42,560
Total
$42,560
BOSTON AND NEW YORK CENTRAL RAILROAD.
The Boston and New York Central Railroad Company was the successor of
the Norfolk County Railroad Company, the Southbridge and Blackstone
Railroad Company, and the Midland Railroad Company, which were conso-
lidated into the Boston and New York Central Railroad Company on the
12th December, 1853. Agreeably to provision contained in the charters of
the several companies named, the Boston and New York Central was sub-
Digitized by Google
MASSACHUSETTS-BOSTON AND LOWELL.
97
sequently merged in the Midland Railroad Company, which was chartered
on the 19th March, 1858, and organized on the 31st of the same month.-
(See Midland Railroad.)
BOSTON AND CHELSEA RAILROAD.
(See Boston City Railroads, postea; see, also, the Malden and Melrose Railroad Co.)
BOSTON CITY PASSENGER RAILROADS, VIZ.:
BOSTON AND CHELSEA,
DORCHESTER EXTENSION,
SOMERVILLE,
Broadway,
MALDEN AND MELROSE,
UNION,
CAMBRIDGE,
METROPOLITAN,
WALTHAM & WATERTO'N,
CHELSEA BEACH,
MIDDLESEX,
WEST CAMBRIDGE,
DORCHESTER.
NEWTON,
WEST ROXBURY.
[See, postea.
BOSTON AND LOWELL RAILROAD.
(Financial year ending 30th November, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
George W. Lyman
Boston, Mass.
William Minot, Jr.
Boston, Mass.
Isaac Hinkley
Lowell,
"
William Amory
"
"
Josiah G. Abbott
"
"
Edward Spalding
Nashua, N.H.
Daniel S. Richardson
"
"
Onslow Stearns
Concord,
"
F. B. CROWNINSHIELD, President
Boston, Mass.
GEORGE STARK, Managing Agent
"
"
J. THOMAS STEVENSON, Treasurer
"
"
J. B. WINSLOW, Superintendent
"
"
PRINCIPAL OFFICE
BOSTON, Suffolk Co., Mass
LENGTH OF RoAD-Main line, Boston to Lowell
26.76 miles.
Woburn Branch, South Woburn to Woburn Centre
1.86 "
Second track, 26.76 miles. Sidings and turnouts, 16.67 miles.
Total length of road owned by Company
28.62 miles.
Length of Road leased, rented and operated by Company
Lowell and Lawrence Railroad, Lowell to Lawrence
12.35 "
Second track, sidings, and turnouts, 2.29 miles.
Salem and Lowell Railroad, Tewkesbury to South Danvers. 16.88 "
Second track, sidings and turnouts, 1.74 miles.
Total length of line operated by Company
57.85 miles.
ROLLING STocK-Locomotive Engines
21
Cars :-Passenger, 26 ; baggage, 11; freight and gravel, 555
592
The Boston and Lowell Railroad Company was chartered on the 8th June,
1830. The capital was limited to $500,000 in 1,000 $500 shares. In 1833
the Legislature authorized its increase to $600,000 in 1834 to $1,200,000 ;
in 1836 to $1,800,000, and in 1838 to $2,100,000. The construction of the
road was commenced in the summer of 1831, and the whole line was opened
for public use on the 26th June, 1835. In 1841 the road was laid with a
second track. The Woburn Branch Railroad Company was incorporated in
1844 with a capital of $30,000. The franchise of this Company was subse
13
Digitized by Google
98
MASSACHUSETTS-DOSTON AND LOWELL.
quently transferred to the Boston and Lowell Company, and the road built
by it in 1844-5 at a cost of 845,522. In 1847 the Company was authorized
to extend its main road so as to enlarge its accommodations both in Lowell
and Boston, which were completed in 1857.
On the 29th January, 1857, the Boston and Lowell, and the Nashua and
Lowell Railroad Companies entered into a contract for the working and
management of the roads of the two companies as one line-the Boston and
Lowell Company to receive 69 per cent., and the Nashua and Lowell 31 per
cent. of the net earnings-the joint companies to assume the contracts made
by the Nashua and Lowell Company with the Stony Brook and Wilton
Railroad Companies. The contract between the two companies, which was
to expire on the 1st April, 1860, was on the 1st October, 1858, extended for
a period of 20 years. On the same date, a contract was entered into by the
Boston and Lowell Company with the Lowell and Lawrence, and the Salem
and Lowell Railroad Companies for the transportation of persons and freight
over their roads for a period of 20 years, by which the former Company
agreed to run and meintain the roads of the latter, and pay as rent therefor
the sum of $17,500 to the Salem and Lowell Railroad Company, and $21,780
to the Lowell and Lawrence Railroad Company; the payments to the former
to be made half yearly on the 15th February and 15th August; and the pay-
ments to the latter to be made half yearly on the 1st April and 1st October.
By an agreement between the Boston and Lowell and the Nashua and
Lowell Companies, of the same date, the two are to divide the profits and
losses growing out of the above contracts, in the ratio as the net earnings of
their roads are to be divided.
SHARE CAPITAL-Authorized, $2,100,000, in $500 shares.
Paid
in,
1,830,000,
"
"
-
FUNDED Девт-$440,000: in detail as follows—
Six per cent. coupon bonds
$440,000
-issued at different dates from 1853 to 1856, and payable 1st January, 1873;
interest payable 1st Jan. and 1st July, in Boston.
SINKING FUND.
To provide for the retirement of the Funded Debt of the Company a
Sinking Fund was created, to which annual payments are made equal to one
per cent. on the capital stock of the Company, viz. $1,800,000. The first pay-
ment made was in 1856. The amount held by the fund on the 30th April,
1859, was $64,050.
FLOATING DEBT-None.
INCOME ACCOUNT FOR THE YEAR ENDING 30TH SEPT., 1859.
Receipts-
Disbursements-
Passenger earnings
$191,357
Fuel
$41,549
Freight
"
299,208
Maintenance of road, etc
80,112
Mail
"
5,921
Repairs of rolling stock
52,032
Express
"
6,763
Merchandise expenses
30,595
Other sources, connected with the busi-
Wages
43,028
ness prior to 1857
21,311
Taxes, insurance, etc
10,866
Rents...
930
Oil and waste
5,363
Miscellaneous business (joint)
17,168
Rents to leased roads
32,286
General expenses (B. & L. Co.)
7,577
Balance, interest account
25,794
Surplus income
189,121
Total
$525,490
Total
$525,490
Digitized by Google
MASSACHUSETTS--BOSTON AND MAINE.
99
Cost OF ROAD AND EQUIPMENT-$2,428,593 : in detail as follows-
Graduation and masonry
$453,117
Land, land-damages and fences
$404.797
Wooden bridges
119,557
Locomotives
92.802
Superstructure, including iron
367,825
Pussenger and baggage cars
34,203
Stations, buildings, and fixtures,
852,592
Merchandise cars
56.339
Engineering
47,359
GENERAL LEDGER BALANCE SHEET, 30TH SEPT., 1859.
Dr.
Cr.
Cost of road and equipment
$2,428,593
Share Capital
$1,830,000
Trustee Sinking Fund
64,050
Funded Debt
440,000
Notes receivable, secured by mort-
Dividends, ete
5,365
gages
12,354
Profits
354,239
Fuel, materials, etc
76,064
Cash
48,544
Total
$2,629,604
Total
$2,629,604
COST, EARNINGS, EXPENSES, ETC., YEARLY.
Cost of
Mile-
Gross Earnings
Operating Earnings,
Div.
Year. Road, etc.
age.
Pass'er.
Freight.
Mails.
Total.
expenses. less exp.
$
p.c.
1835. $1 312,239
25.76
854,654
$10,000 $
$64,654
$19,125
$45,529
$45,000
31
1836.
1,505,645
25.76
125,124
40,000
165,124
75,326
89,798
30,000
2
1837
1,508,394
25.76
117,643
63,127
180,770
78,508
102,262
105,000
7
1838.
1,575,663
25.76
109,081
82,697
191,778
75,598
116,180
105,000
7
1839.
1,698,476
25.76
135,037
106,131
52
241,220
92,152
149,068
132,000
8
1840.
1,729,242
25.76
127,008
102,614
1,953
231,575
91,400
140,175
138,000
8
1841.
1,834,893
25 76
145,953
119,691
1,897
267,541
119,469
148,072
144,000
8
1842.
1,978,286
25.76
138,042
132,059
8,209
278,310
165,175
113,135
144,000
8
1843.
1,863,746
25.76
141,427
131,273
4,615
277,315
109,666
167,749
144,000
8
1844.
1,902,555
25.76
165,285
145,915
5,709
316,909
169,293
147,616
144,000
8
1845.
1,932,597
27 62
176,951
173,443
5,673
356,067
175,042
181,025
144,000
8
1846.
1,940,418
27.62
185,234
193,836
5,032
384,102
212,234
171,868
144,000
8
1847.
1.956,719
27.62
209,612
234,815
4,129
448,556
253,409
195,147
144,000
8
1848.
2,013,687
27.62
201,218
255,149
4,972
461,339
268,707
192,632
144,000
8
1849.
1,945,646
27.62
179,789
230,174
6,525
416,488
266,288
150,200
146,400
8
1850.
1,945,646
27.62
177,372
221,211
7,838
406,421
257,884
148,537
146,400
8
1851.
1,945,646
27.62
174,241
226,054
8,858
409,153
268,029
141,124
146,400
8
1852.
1,995,249
27.62
157,170
222,004
8,934
388,108
257,227
130,881
118,950
61
1853.
2,044,536
27.62
172,882
252,574
9,143
434,599
320,501
114,098
109,800
6
1854.
2,158,932
27.62
166,307
267,252
8,932
442,491
364,479
78,012
54,900
3
1855-
2,188.595
27.62
194,735
285,326
9,693
489,754
366,120
123,634
109,800
6
1856.
2,336,449
27.62
195,643
283,142
11,948
490,733
385,347
105,386
73,200
4
1857.
2,412,251
2362
171,379
252,609
11,874
435,862
264,531
171,331
91,500
5
1858.
2,424,598
28 62
151,657
241,205
14,537
407,399
241,291
166,108
109,800
6
1859.
2,428,592
28.62
195,425
307,627
28.425
531,477
322,678
208,799
146,400
8
25 ys. 48,578,700
664.90
3,968,869
4,579.928
168,948
8,717,745
5,223,179
3,494,566
2,960,550
Aver. 1,943,148
26.59
158,754
183,197
6,759
348,710
208,928
139,782
118,422
61
BOSTON AND MAINE RAILROAD.
(Financial year ending 30th Nov., 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
George N. Kittredge
Newmarket, N.H.
James H. Duncan
Haverhill, Mass.
Peter H. Homer
Boston, Mass.
-
Daniel M. Christie
Dover, N.H.
Henry Saltonstall
"
"
I.L. Spelman
Cambridge, Mass.
FRANCIS COGSWELL, President
Andover, Mass.
HORACE C. WILBUR, Treasurer
Charlestown, "
WILLIAM MERRITT, Superintendent
Boston,
"
PRINCIPAL OFFICE
Boston, Suffolk Co., Mass.
Digitized by
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100
MASSACHUSETTS-BOSTON AND MAINE.
LENGTH OF ROAD, Main Line
74.26 miles.
In Massachusetts, Boston to New Hamp. State Line 35.78 miles.
In New Hampshire, Mass. Line to Salmon Falls
37.22 "
In Maine, Salmon Falls to South Berwick Junction
1.26
"
Branch Roads-Medford Branch
2.23 miles.
Methuen Branch
3.61
"
Great Falls Branch
2.95 "
8.79
"
Total length of road owned by Company
83.05 miles.
Length of road operated but not owned, Danvers Railroad
9.20
"
Total length of road operated
92.25 miles.
Length of second track and sidings on road owned
62.59 "
"
"
"
on other roads.
0.21 "
Total equivalent single track mileage
155.05 miles.
ROLLING STOCK-Locomotive Engines
30
Cars :-Passenger, 43 ; baggage, 13 ; merchandise, 504 others, 43
603
The Boston and Maine Railroad Company was formed by the consolidation of
four corporations, viz. : the Boston and Portland in Massachusetts, the Bos-
ton and Maine in New Hampshire; the Maine, New Hampshire and Massa-
chusetts in Maine, and the Boston and Maine " Extension" in Massachusetts.
The Medford Branch was also built by the Boston and Maine Company
under a separate charter.
The Boston and Portland Railroad Company was chartered in 1833, and
was authorized to build a branch from the Boston and Lowell Railroad, at
Wilmington, to the State line of New Hampshire.
The Boston and Maine Railroad Company was chartered in June, 1835,
by the Legislature of New Hampshire, with authority to build a railroad
through that State to the boundary of Maine.
The Maine, New Hampshire and Massachusetts Railroad Company was
chartered in March, 1836, by the Legislature of Maine, with authority to
build the line in that State from the New Hampshire boundary to South
Berwick, and there to unite with the Portland, Saco and Portsmouth Railroad.
By subsequent legislative acts a consolidation of all these companies was
authorized, and consummated on the 1st January, 1842.
The construction of the section between Wilmington and Andover was
commenced in 1835, and opened for business in 1836. Between Wilmington
and Boston, the track of the Boston and Lowell Railroad was used till July,
1845, when an independent line to Boston was constructed under a charter
obtained in 1844. From Andover to Exeter, New Hampshire, the road was
opened in 1840 from Exeter to Dover in 1841 from Dover to Great Falls,
and a junction with the Portland, Saco and Portsmouth Railroad on the 23d
February, 1843.
On the 28th January, 1843, a contract was entered into, in connection with
the Eastern Railroad Company, for a lease of the Portland, Saco and Ports-
mouth Railroad for a period of 99 years, paying therefor a rent equal to 6 per
cent. on its cost. The lease is a joint undertaking, the two companies shar-
ing equally in the profit and loss of operating the leased line. From the
gross sum paid by each passenger 25 cents is first deducted in favor of the
road over which he is transported between Boston and the leased line. This
has thus far paid current expenses and rent.-(See Port., S. & Ports. RR.
Digitized by
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MASSACHUSETTS BOSTON AND MAINE.
101
In 1846, authority was obtained to change the route, 80 as to make the city
of Lawrence a point on its line also to construct the Methuen Branch, ex-
tending from the Merrimac River, at Lawrence, to the boundary line of New
Hampshire, a distance of about 31 miles, to form a connection with the Man-
chester and Lawrence Railroad. These improvements were completed in
1848. The change of route involved the construction of 91 miles hew road.
The Methuen Branch was subsequently leased to the Manchester and
Lawrence Railroad, and is now operated as a portion of that road.
The Medford Branch was chartered in 1845. Construction was assumed
by the Boston and Maine Company, by which it is now owned.
On the 1st day of March, 1855, the Boston and Maine Company took a
lease of the Danvers Railroad for a period of 100 years, from the 30th of
May, 1853, and agreed to pay absolutely therefor a rent of $7,500 yearly, to
commence from the 30th of November, 1854, and such further sums as may
result from operating the road.-(See Danvers Railroad.)
SHARE CAPITAL-Authorized by charter, $4.550,000, in 46,500 $100 shares.
Subscribed and awarded, $4,155,700, in 41,557 $100 shares.
Paid in, $4,076,975.
FUNDED OR FLOATING DEBT-None.
COST OF ROAD AND EQUIPMENT-$4,215,366 : in detail as follows—
Graduation and masonry
$882,067
Land, land-damages and fences
8815,837
Wooden bridges
371,468
Locomotive engines
173,780
Superstructure, including iron
984,523
Passenger and baggage cars
60,695
Stations, buildings and fixtures
520,722
Merchandise cars
133,882
Engineering and agencies.
272,388
Assets and property not included in cost of road and equipment
$303,659
INCOME ACCOUNT FOR THE YEAR ENDING 31sT May, 1859.
Receipts
Disbursements-
Passenger
$465,181
Repairs of road-bed, buildings, etc
$111,354
Freight
327,668
"
engines
28,441
Rents
7,076
"
cars
19,058
Mails
9,617
Passenger expenses
56,127
Interest
9,139
Freight
"
56,545
Fuel and water
63,094
Renewals of iron
21,845
"
of rolling stock
7,590
Rent of Danvers Road
7,500
General expenses, taxes, etc.
76,905
Balance net earnings
370,222
Total
$818,681
Total
$818,681
GENERAL LEDGER BALANCE SHEET, 1ST JUNE, 1859.
Dr.
Cr.
Railroad and equipment.
$4,215,366
Capital stock received from sale of
Materials on hand for work'g the road
87,555
41,557 shares
$4,076,974
Bills and accounts receivable
189,029
Temporary balances
59,158
Boston & Maine RR. stk, 500 shares.
50,000
Dividend payable July 1, 1859
166,228
Danvers Railroad bonds
71,000
Danvers Railroad Sinking Fund
6.334
Danvers RR. land damage account
258
General Reserve account, being un-
Great Falls and Conway RR. bonds
20,000
divided earnings
428,932
Assets in Suspense Account-
Newburyport Railroad bonds, at 90
15,210
"
"
account.
10,995
"
"
notes
60,546
Man. & Lawr. and other railroads.
13,041
White Mountain Railroad bonds
1,100
Sundry freight bills
3,526
Total
$4,737,626
Total
$4,737,626
Digitized by
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102
MASSACHUSETTS-BOSTON AND PROVIDENCE.
Cost, EARNINGS, EXPENSES, ETC., YEARLY.
Cost of Road, Mile-
Gross Earnings
Operating Earnings,
Div
Year.
&c.
age.
Pass'r.
Freight.
Mails,&c.
Total.
expenses.
less exp.
$
p. c.
1840
$523,091
20.18
$71,794
$18,848
$2,826
$93,468
862,522
$30,946
14,816
31
1841
553,289
50.74
85,928
25,291
4,797
116,016
82,021
33,995
23,422
51
18421
1,260,285
50.74
109,681
38.443
7,756
155,880
79,278
76,602
53,130
6
1843
1,384,049
58.24
119 434
52,494
6,817
178,745
109,177
69,568
68,490
6
1S44
1,485,460
62.27
154,944
70,670
7,487
233,101
137,036
96,065
86,401
61
1845
1,935,091
62.27
172,603
97,486
16,974
287,063
154,099
132,964
116,165
7
1846
2,626,746
7952
223,192
119,538
6,406
349,136
179,734
169,402
152,789
7
1847
3,021,172
79.52
321,182
179,988
10,334
511,504
220,259
291,245
214,227
9
848
3,571,832
79.52
332,161
170,185
9,281
511,627
264,534
247,093
252,798
81
1349
3,930,057
83.05
332,214
168,974
21,147
522,335
283,510
238,825
195,624
51
1850
4,021,606
83 05
387,681
187,914
19,368
594,963
289,478
305,485
207,785
5
1851
4,090,452
83.05
408,815
192,574
31,705
633,094
305,068
328,026
290,899
7
1852
4,092,926
83.05
422,868
220,596
18,057
661,521
323.306
338,215
290,899
7
1853
4,111,345
83.05
492,599
276,688
33,737
803,024
384,665
418,358
332,456
8
1854
4,179,535
83.05
552,843
297,446
56,501
906,790
485,228
421,562
332,456
8
1855
4,179,546
83.05
540,712
283,430
30,283
854,425
524,366
330,059
249,342
6
1856
4,176,205
83.05
541,726
347,826
20,803
910,355
512,228
398,127
249,342
6
1857
4,229,231
83.05
503,886
317,553
28,121
849,560
492,083
357,477
249,342
6
1858
4,219,326
83.05
439,254
292,769
22,764
754,787
431,888
322,899
270,120
61
1859
4,219,740
83.05
495,074
332,248
32,797
860,119
465,644
394,475
332,456
8
$61,810,984
1456.55
6,708,591
3,690,962
387,961
10,787,514
5,786,126
5,001,388
3,982,959
Aver
3,090,549
72.83
335,429
184,548
19,398
539,375
289,306
250,069
199,148
6.6
Nore.-The General Balance Sheet and Income Account are for the year ending 31st of May,
1859. The figures exhibited in the table of yearly statements are taken from the annual reports
to the Legislature, under date of 30th November.
BOSTON AND PROVIDENCE RAILROAD.
(Financial year ending 30th November, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
Joseph Grinnell
New Bedford, Mass.
William Appleton
Boston, Mass.
Samuel T. Dana
Boston, "
John Barstow
Providence, R.I.
George W. Hallet
Providence, R.I.
C. H. Warren
Boston, Mass.
CHARLES H. WARREN, President
Boston, Mass.
HENRY DALTON, Treasurer
"
"
DANIEL Nason, Superintendent
"
"
PRINCIPAL OFFICE
Boston, Suffolk Co., Mass.
LENGTH OF ROAD-Main Line, Boston to Providence
43.50 miles.
Dedham Branch, Dedhain to Jamaica Plain
2.97 "
Seekonk Branch
1.00 "
Total length of road owned by Company
47.47 miles.
Length of road leased, Stoughton Branch, Canton to Stoughton
4.04 "
"
"
Easton Branch, Stoughton to Easton
3.78
"
Total length of road owned, leased aud operated by Company
55.29 miles.
Second track and sidings on main line and branches
22.70 =
Second track and sidings on Stoughton Br., 0.52; Easton Br., 0.15. 0.67
"
Total equivalent single track on lines owned and leased
78.66 miles.
ROLLING STOCK-Locomotive engines
22
Cars (8-wheel) : Passenger, 27 ; baggage, 13 merchandise, 154
194
Cars (4-wheel) : Merchandise, 13, and gravel, 20.
33
Eleven months' operations.
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MASSACHUSETTS-BOSTON AND PROVIDENCE.
103
The Boston and Providence Railroad Company was chartered on the 22d June,
1831. The construction of the first section, between Boston and Sharon, a
distance of 18 miles, was commenced in the latter part of 1832 the second
section between Sharon and Attleboro, a distance of 14 miles, in 1833, and
the section between Attleboro and Providence, 12 miles, in 1834. The road
was opened from Boston to Canton, 14 miles, in 1834, and for its whole length
in June, 1835.
The road when first constructed entered the city of Providence on the
eastern side. This terminus was changed in 1847, to the one occupied on
the western side of the town. The five and a half miles of the road between
Providence and Pawtucket, were constructed and are jointly owned with the
Providence and Worcester Railroad Company; the track for this distance
being used in common by both roads.
SHARE CAPITAL-$3,160,000, in 31,600 $100 shares, (all paid in.)
FUNDED DEBT-$174.220, bonds at 6 per cent.
The funded debt was created in 1856 for the payment of the floating debt
of the Company. Of the whole amount $10,000 is payable in 1860 $30,000
in 1861 ; $12,000 in 1862, $30,000 in 1863 ; $30,000 in 1864 $25,000 in
1865 ; $16,500 in 1866 ; $6,220 in 1867, and $15,000 in 1868. The interest
is payable half yearly at Boston.
FLOATING DEBT-None.
CosT OF ROAD AND EQUIPMENT-$3,160,000 in detail as follows—
New track, India street
$13,190
Prov. and Wore. RR. on joint acc't
8399,905
Graduation and masonry
775,000
Boston and Prov. RR. in Rhode Island. 150,000
Wooden bridges
101,000
Iron account
335,064
Iron
"
9,840
Sleeper account
43.850
Stations, buildings and fixtures
497,000
Fences
23,155
Land and land-damages
477,939
Locomotives
105,300
Seekonk Branch and whart
31,656
Passenger and baggage
44,100
Engineering
95,000
Freight cars.
58,000
INCOME ACCOUNT FOR THE YEAR ENDING 30TH NOVEMBER, 1859.
Receipts-
Disbursements-
Passenger
$310,435
Wood, coal and water
$41,414
Freight
303,307
Repairs of road
66,000
Mails
7,890
"
of rolling stock
46,900
Miscellaneous
33,041
"
of bridges, buildings, etc
36,833
Passenger expenses
34,391
Freight
"
47,189
Miscellaneous
"
44,296
Interest on bonds
10,554
Dividends 7 per cent
221,200
Net earnings
105,894
Total
$654,673
Total
$654,673
GENERAL LEDGER BALANCE SHEET, 1ST DEC., 1859.
Dr.
Cr.
Capital, 31,000 shares
$3,160,000
Construction
$2,932,600
Bonds payable, 1860-68
174,220
Equipment
207,400
Dividend due Jan. 2d, 1860
128,569
Cash assets
339,857
Cash balances due
21,599
Property representing surplus-
Funds for renewals, etc
41,249
300 shs. Bost. & Prov. RR. stk
30,000
Income Account, old balance
31,606
400 shs. Stoughton Br. RR. stk
40,000
"
"
surplus, 1859
105,894
Real estate
60,136
Materials on hand
33,145
Total
$3,663,138
Total
$3,663,138
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104
MASSACHUSETTS-BOSTON AND WORCESTER
COST, EARNINGS, EXPENSES, Erc., YEARLY.
Cost of
Mile-
Gross Earnings
Operating
Earnings,
Div.
Yr. Road, etc.
age.
Pass'er.
Freight.
Mails.
Total.
expenses.
less exp.
$
p.c.
'35 $1,500,000
43.26
$74,941
$18.404
$93,345
$59,211
$34,134
nil.
nil.
'36. 1,500,000
43.26
103,512
32,071
135,583
83,719
51,864
"
"
'37. 1,682,900
43.26
193,469
57,413
250,882
156,238
94,644
68,356
4
'38. 1,782,000
43.26
196,974
68.140
265,114
120,044
145,070
142,560
8
'39. 1,782,000
43.26
234,337
79,670
313,907
193,562
120,345
142,560
8
'40. 1,782,000
43.26
134,651
63,441
4,509
202,601
143,127
59,474
124,740
7
'41. 1,782,483
43.20
152,016
71,011
7,794
230,821
122,057
108,764
106,920
6
'42. 1,892,831
43.20
163,787
62,123
10,557
236,467
112,824
123,643
108,483
6
'43. 1,914,473
43.20
157,646
68,292
7,449
233,387
125,374
108,014
110,823
6
'44. 1,926,134
43.20
189,657
87,301
6,643
283,701
113,834
169,866
111,600
6
'45. 1,964,677
43.20
232,677
108,772
9,179
350,628
197,827
152,801
130,200
7
'46. 2,109,455
43.20
230,486
110,882
19,507
360,875
169,679
191,196
172,700
8
'47. 2,544,715
46,60
226,103
118,173
19,052
363,328
175,345
187,982
174,600
71
'48. 3,031,106
46,60
231,263
112,188
10.926
354,377
183,361
171,014
175,349
61
'49. 3,370,269
53.00
225,640
119,442
9,249
354,331
169,905
184,426
189,600
6
'50. 3,416,232
53.00
232,321
127,705
10,701
370,727
161,930
208,797
173,800
51
'51* 3,369,599
53.06
236,730
133,422
7,244
377,396
177,776
199,620
189,600
6
'52. 3,546,203
53.09
256,423
155,029
18,032
429,484
216,858
212,625
173,800
51
'53. 3,576,041
55.29
299,990
190,647
17,689
508,326
281,687
226,639
205,400
61
'54. 3,611,821
55.29
316,100
214,594
14,135
544,829
335,703
209,126
94,800
3
'55. 3,667,154
55.29
316,434
225,823
16,414
558,671
363,186
195,485
nil.
nil
'56. 3,659,966
55.29
346,817
264,279
21,130
632,226
337,575
294,851
173,800
51
'57. 3,534,457
55.29
319,323
243,136
21,716
584,175
338,981
245,194
189,600
6
'58. 3,524,981
55.29
276,725
229,877
31,162
537,764
294,191
243,572
189,600
6
'59. 3,160,000
55.29
310,435
303,307
40,931
654,673
317,025
337,648
221,200
7
$65,631,497
1,211.14
5,658,457
3,265,232
304,019
9,227,708
4,951,019
4,276,689
3,370,103
Av. 2,625,259
48.44
226,338
130,609
12,161
369,108
198,041
171,067
134,804
51
BOSTON AND WORCESTER RAILROAD.
(Financial year ending 30th November, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
Daniel Denny
Dorchester, Mass.
Israel Lombard
Newton, Mass.
Nathaniel Hammond
Boston,
"
Peter T. Homer
Boston,
"
Benj. F. White
"
"
Isaac Emery
"
"
Emory Washburn
Cambridge,
"
D. Waldo Lincoln
Worcester,
"
GINERY TWITCHELL, President
Brookline, Mass.
.
HORACE WILLIAMS, Treasurer
Boston,
"
E. B. PHILLIPS, Superintendent
"
"
PRINCIPAL OFFICE
BOSTON, Suffolk Co., Mass.
LENGTH OF Rosd-(Main Line) Boston to Worcester
44.63 miles.
Brookline Branch, Boston to Brookline
1.55 miles.
Newton Lower Fulls Branch, West Newton to Falls. 1.25
"
Saxonville Branch, Natick to Saxonville
3.87
"
Milford Branch, Framingham to Milford
11.97
"
Framingham Branch, Framingham to Fram'n Centre. 2.06
"
Milbury Branch, Grafton to Millbury
3.07
"
23.77
"
Total length of main line and branches
68.40 miles.
Second track and sidings on the same
59.13 "
Total equivalent single track mileage owned by this Company
127.53 miles.
Railroad leased, rented or operated by Company :
Agricultural Railroad, Framingham Centre to Northboro
15.03
"
Total length of road in equivalent single track, operated by this Co. 142.56 miles.
#
Eleven months' operations.
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MASSACHUSETTS-BOSTON AND WORCESTER.
105
ROLLING STock-Locomotive Engines
30
Passenger cars, 46 8-wheel, 9 4-wheel, and 3-5ths of 2 express and 44-
236ths of New York line cars, equal to about
61
Baggage cars, 8, and 44-236ths of 7 express line cars, equal to about
10
Merchandise cars, 581 ; gravel cars, 73
654
The Boston and Worcester Railroad Company was chartered on the 23d June,
1831. The charter of this Company was the first in the State which ex-
pressly authorized the use of the locomotive. The charter provided that no
other road leading in the same direction should be built within a distance of
five miles from its route, and also that the State might purchase the road
after 30 years from its completion on paying the cost of construction and
such sums in addition thereto as would be equal to dividends of 10 per cent.
annually on such cost. With this limitation the charter is perpetual.
The construction was commenced in Aug., 1832, and the work completed
in sections as follows-from Boston to Newton, 9 miles, 16th April; to Need-
ham, 131 miles, 3d July; to Hopkinton, (now Ashland,) 24 miles, 20th Sep-
tember, and to Westboro, 32 miles, 15th November, 1834. On the 3d July,
1835, the entire line to Worcester was completed. Upon this road the loco-
motive engine was used for the first time in New England as the motive
power for passenger trains. The double track was completed in 1843.
The several branches owned by the Company were opened at the following
dates :-the Millbury, in 1846; the Saxonville, in 1846; the Newton Lower
Falls, the Milford, and the Brookline, in 1847; the Framingham, 1849.
The Agricultural Branch is leased for 20 years from 1st December, 1855,
the Boston and Worcester Company agreeing to pay, as rent, one-third of
the gross earnings of the branch, and of the joint earnings of the two roads
on traffic originating or terminating on the branch, excluding Framingham
Centre Station-the receipts so accruing not to exceed 6 per cent. on
the cost of the road. The Boston and Worcester Company, however,
agreed to pay, absolutely, 6 per cent. on the share capital of the branch not
exceeding in amount $60,000.-(See Agricultural Branch.)
SHARE CAPITAL-Authorized and paid, $4,500,000, in 45,000 $100 shares.
FUNDED DEBT-$500,000: in detail as follows—
Unconvertible 6 per cent. coupon bonds
$100,000
-dated 1st July, 1850, and payable, principal, 1st July, 1860, and interest
semi-annually, 1st Jan. and 1st July, in Boston:
Concertible 6 per cent. coupon bonds
$400,000
-dated 1st July, 1850, and payable, principal 1st July, 1860, and interest
semi-annually, 1st Jan. and 1st July, in Boston.
For the payment of these bonds, the Company set aside, in 1856, from the
net earnings, $100,000; in 1857, $50,000 in 1858, $50,000, and in 1859,
$183,000. These amounts, with such additions as may be made to the same
from net earnings and interest, will provide a sum sufficient for their liquida-
tion at maturity.
FLOATING DEBT-$29,595.
COST OF ROAD AND EQUIPMENT-$4,728,580 : in detail as follows-
Graduation and masonry
8737,376
Locomotive engines.
$179,425
Wooden bridges
266,103
Passenger and baggage cars
75,566
Superstructure, including iron
1,410,811
Merchandise cars.
182,425
Stations, buildings and fixtures
760,255
Engineering
228,759
Land, land-damages and fences
887,860
Agencies and other expenses
None.
Assets or property held by the Company in addition to the cost of road, ctc.
$1,022,932
14
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106
MASSACHUSETTS-BOSTON AND NEW YORK CENTRAL.
INCOME ACCOUNT FOR THE YEAR ENDING 30TH Nov., 1859.
-
Receipts-
Disbursements-
Passenger
$561,508
Maintenance of way
$120,258
Freight
471,064
Repairs of motive power and cars
83,029
Rents
18,983
Miscellaneous expenses
352,258
Mails
15,516
Dividend 7 per cent
315.000
Interest
31,471
Interest
34.242
Surplus from 1858
358,051
Cost of improvement at Brighton
9,899
Surplus income
541,917
Total
$1,456,593
Total
$1,456,593
GENERAL LEDGER BALANCE SHEET, 1ST DEC., 1859.
Dr.
Cr.
Construction main road and branches $4,291,164
Assessments on capital
$4,500,000
Equipment, engines and cars
437,416
Bonds due July, 1860
500,000
Sinking fund
289,420
Notes payable
9,000
Collateral loans.
246,448
Unclaimed dividends
3,066
Cash
40,068
Coupons not presented
180
Notes receivable
28,592
Dividend No. 49, payable Jan. 2, 1860
180,000
Uncollected freight
21,129
Reserved income
541,917
Fuel and materials
138,460
Balances due to railroads and indivi-
Bonds of Grand June. R. & D. Co
100,000
duals
17,349
Real estate
54,458
Balances due from connecting RR., etc
104,357
Total
$5,751,512
Total
$5,751,512
COST, EARNINGS, EXPENSES, ETC., YEARLY.
Cost of
Mile-
Gross Earnings
Operating
Earnings,
Div.
Yr. Road, etc.
age.
Pass'er.
Freight.
Mails.
Total.
expenses.
less exp.
$
p.c.
'34. 907,112
31.50
$29,419
$
$
$29,419
$14,926
$14,493
nil.
nil.
'35. 1,160,556
44 63
95,279
33,821
3,287
132,387
70,607
61,780
25,000
2
'36. 1,250,000
47.63
124,788
54,397
4,004
183,189
103,674
79,515
50,000
4
'37. 1,577,546
47.63
118,331
86,716
4,214
209,261
119,062
90.199
120,000
8
'38. 1,710,214
47.53
112,032
94,827
5,466
212,325
93,493
118,832
102,000
6
'39. 1,848,085
47.63
122,496
106,251
3,060
231,807
126,384
105,423
110,500
61
'40. 1,994,981
47.63
170,855
92,819
3,873
267,547
140,441
127,106
105,000
6
'41. 2,374,547
47.63
190,097
110 003
10,708
310,808
162,993
147,815
114,000
6
'42. 2,764,396
47.63
186,610
148,188
14,408
349,206
168,509
180,697
184,000
8
'43. 2,836,168
47.63
207,267
162,656
13,444
383,367
206,641
176,726
162,000
6
'44. 2,914,078
47.63
234,634
175,996
17,807
428,437
233,273
195,164
182,500
61
'45. 3,212,264
47.63
241,219
233,505
12,731
487,455
249,729
237,726
232,000
S
'46. 3,485,232
51.51
279,792
260,166
14,754
554,712
283,876
270,836
236,000
8
'47. 4,113,609
52.76
304,580
374,663
42,927
722,170
381,985
340,185
315,000
9
'48. 4,650,393
66.28
332,885
359,073
24,326
716,284
381,917
334,367
332,500
91
'49. 4,903,332
68.27
330,636
331,338
41,387
703,361
405,551
297,810
303,000
7
'50. 4,882,648
68.27
397,249
330,780
29,917
757,946
377,041
380,905
270,000
6
'51. 4,862,748
68.27
403,362
318,933
21,627
743,922
393,687
350,235
315,000
7
'52. 4,845,966
68.27
424,713
314,943
19,163
758,819
409,740
349,079
315.000
7
'53. 4,850,754
68.27
481,222
382,558
23,439
887,219
455,528
431,691
315,000
7
'54. 4,856,370
68.27
512,764
405,498
34,632
952,894
594,528
358,366
315,000
7
'55. 4,965,439
68.27
529,185
444,982
33,838
1,008,005
603,542
404,463
270,000
6
'56. 4,855,410
68.27
566,125
509,225
33,431
1,108,781
671,719
437,062
292,500
61
'57. 4,843,779
68.27
547,339
438,102
33,703
1,019,149
612,686
406,463
315,000
7
'58. 4,689,098
68 27
504,268
385,614
33,341
923,223
570,929
352,294
270,000
6
'59. 4,728,580
68.27
561,508
471,065
34,498
1,067,071
565,434
501,637
270,000
6
$89,988,305
1473.95
8,108,655
6,526,119
513,990
15,148,764
8,397,895
6,750,869
5,521,000
Av. 3,461,088
56.69
311,871
251,064
19,768
582,643
322,995
259,648
212,346
74
BOSTON AND NEW YORK CENTRAL RAILROAD.
(See Midland Railroad.)
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MASSACHUSETTS-CONNECTICUT RIVER.
107
CHARLESTOWN BRANCH RAILROAD.
LENGTH OF RoAD-Swett's Wharf, Charlestown, to West Cambridge
7.8 miles.
The Charlestown Branch Railroad Company was chartered in 1836, with a
capital limited to $500,000, and authorized to build a railroad from Swett's
Wharf, in Charlestown, to the Boston and Lowell Railroad. That portion
of the road from the Boston and Lowell Railroad to Gray's Wharf, 1.3
mile, was completed in October, 1839, and to Swett's Wharf, 1.4 miles, in
January, 1840. On the 17th March, 1841, an act was passed authorizing
the extension of the road to West Cambridge, with side tracks to the ice
ponds, in all about 6 miles. The work on the new line was commenced on
the 29th June and completed in the spring of 1842. On the 30th May,
1842, the first locomotive was placed on the road, which had hitherto been
worked by horse-power. This was borrowed, at $75 per day, from the Bos-
ton and Lowell Company. The opening of this road marks the commence-
ment of an important era of the ice trade of Boston. On the 4th May,
1843, the Company conveyed to the Fitchburg Company sufficient land along
its route for that Company to construct a track for its own road; and by
agreement, dated 29th December, 1843, contracted to carry the Fitchburg
trains over the Charlestown and Fitchburg railroads to and from Waltham,
to which point the latter had been completed. During 1844 a branch was
opened to Fresh Pond, 1,925 feet in length. On the 1st September, 1845,
the Fitchburg Company leased the road for 99 years, with the right to pur-
chase the same by paying $258,000, or $86 per share; and until the purchase,
to pay for the use of the same $15,480 per annum. Soon afterwards, how-
ever, the Fitchburg Company elected to purchase, which was effected on the
31st January, 1846.
SHARE CAPITAL-Paid in, $300,000.
CosT OF ROAD, ETC., $327,388.
COST OF ROAD, EARNINGS, EXPENSES, ETC., YEARLY.
Cost of Road Mile-
Gross Earnings
Ex-
Net
-Div.-
Year.
& Equipm't. age.
Pass'ger.
Freight.
Mails,
etc.
Total.
penses.
Earnings.
$
p.c.
1839
$76,928
1.3
8
1840
93,381
1.4
1,836
1,409
3,245
2,582
663
nil. nil.
1841
174,717
1.4
1,248
38
1,286
(not stated)
"
"
1842
223,144
7.4
6,168
6.495
51
12,714
6,190
6,524
"
"
1843
257,482
7.4
6,318
23,816
224
30,358
26,821
3,537
25,000
13
1844
280,259
7.8
7,787
25,344
1,522
34,653
20,683
13,970
15,000
51
1845
327,388
7.8
3,734
21,397
1,683
26,814
16,276
10,538
6,250
3
7 years $1,433,299
34.5
24,007
80,136
4,927
109,070
72,552
35,232
46,250
CONNECTICUT RIVER RAILROAD.
(Financial year ending 30th November, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
Edward A. Dana
Boston, Mass.
Ignatius Sargent
Boston, Mass
Chester W. Chapin
Springfield,
"
Rowland Mathe!
Henry W. Clapp
J. H. Butler
John Chase
I. M. Spelman.
Cambridge, "
DANIEL L. HARRIS, President
Springfield, Mass.
SETH HUNT, Treasurer
Northampton, "
W.B. BRINSMADE, Superintendent
Springfield,
"
PRINCIPAL OFFICE
SPRINGFIELD, Hampden Co., Mass.
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108
MASSACHUSETTS-CONNECTICUT RIVER.
LENGTH OF RoAD-Main Line, Springfield, Mass., to South Vernon, Vt.. 50.00 miles.
Chicopee Branch, Cabotville to Chicopee Falls
2.35
"
Total length of road owned by Company
52.35 miles.
Length of sidings and other track, 8.88 miles.
Length of Leased Road-Ashuelot Railroad, South Vernon to Keene 23.00
"
Total length of road operated by Company
75.35 miles.
ROLLING STocK-Locomotive engines
12
Cars (8-wheel) :-Passenger 13, baggage 6, and merchandise 148
167
" (4-wheel) :-Merchandise 2, and gravel, etc., 26
28
The Connecticut River Railroad Company is a consolidation of the North-
ampton and Springfield, and the Greenfield and Northampton Railroad
Companies, the former chartered in 1842, and the latter in 1845. Each hav-
ing authority to consolidate with the other, articles of agreement to this effect
were entered into on the 8th July, 1845, and a new company formed under
the title of the Connecticut River Railroad Company, which was organized
on the 18th July, 1845. The whole road was immediately thereafter placed
under contract. The lower portion of the road had been previously put
under contract by the Northampton and Springfield Company, and four
miles of the same to Cabotville completed on the 25th February, 1845. On
the 13th December, 1845, the road was opened to Northampton, 17 miles,
from Springfield. The northern division of the road was opened as follows:
from Northampton to Deerfield, 11 miles, 17th August, and from Deerfield
to Greenfield, 8 miles, 23d Nov., 1846. The remainder of the line to South
Vernon was completed in 1848. The Chicopee Branch was opened in 1845.
In 1849 a contract was entered into for a lease of the Ashuelot Railroad
for a period of 10 years from the completion of that road, which took place
in January, 1851-the Connecticut River Company to maintain and run the
leased line, and pay therefor, as rent, $30,000 annually; having also the
right to renew the lease. The Ashuelot Railroad has been run with little
or no profit, and the lease, which terminates in January, 1861, will probably
not be renewed.
SHARE CAPITAL-Authorized, $1,750,000, in $100 shares.
Paid on ordinary shares
$1,283,600
"
8 per cent. Preferred Shares
307,500
Total paid in
$1,591,100
The Preferred Shares were created in 1849, and will become common
stock in August, 1860.
FUNDED DEBT-$252,500 described as follows-
Six per cent. (unsecured) bonds
$170,000
-dated 1st Nov., 1846, and payable, $25,000 on the 1st May, 1862; $80,000
on the 1st Nov., 1862; $25,000 on the 1st May, 1863, and $40,000 on the 1st
Nov., 1863; interest payable semi-annually, 1st May and 1st Nov., in Boston.
1st Mortgage, 6 per cont., coupon bonds
$72,500
-dated 1st Sept., 1858, and payable, principal 1st Sept., 1878, and coupons
semi-annually, 1st March and 1st Sept., in Boston. The whole amount pro-
vided was $250,000. This issue was made for the purpose of retiring the
the unsecured bonds at maturity.
Notes due in equal instalments, 1st July, 1860, and 1st Jan., 1861
$10,000
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MASSACHUSETTS-CONNECTICUT RIVER.
109
FLOATING DEBT-None.
COST OF ROAD AND EQUIPMENT-$1,801,944 in detail as follows—
Graduation and masonry
8513,243
Land, land-damages and fences
$229,407
Wooden bridges
42,992
Locomotives
81,983
Superstructure, including iron
545,288
Passenger and baggage cars
23,350
Stations, buildings, and fixtures
121,485
Merchandise cars
82,225
Engineering, agencies, and other expenses
161,971
INCOME ACCOUNT FOR THE YEAR ENDING 30TH Nov., 1859.
Receipts-
Disbursements--
Passenger earnings
$121,884
Operating expenses
$127,819
Freight
"
135,283
Rent of Ashuelot Railroad
30,000
Mail
"
7,319
Miscellaneous expenses, etc
5,548
Express
"
4,200
Interest
13,067
Rent and other sources
2,906
Dividend 1st Feb., '59
$37,972
Balance from 1858
71,868
"
1st Aug., '59
44,390-82,362
Surplus income
84,664
Total
$343,460
Total
$343,460
GENERAL LEDGER BALANCE SHEET, 1ST DEC., 1859.
Dr.
Cr.
Cost of railrond and equipment
$1,801,944
Share capital, common
$1,283,600
Ashuelot railroad equipment
21,841
"
"
preferred
307,500
Materials on hand
33,040
Funded debt
252,500
Suspense account
290
Profit and loss
84,664
Ferry stock and real estate
2,898
Surplus real estate account
6.041
Paymaster
3,919
Expense bills payable
11,029
Post-Office department
6,104
Balance due
13,402
Sundry balances
6,506
Unclaimed dividends
814
350 shares Connecticut River RR. stock
16,288
Notes receivable
23,138
Cash and cash balances
43,581
Total
$1,959,550
Total
$1,959,550
COST, EARNINGS, EXPENSES, ETC., YEARLY.
Cost
Mile
Gross Earnings
Operating
Net
-Div.*-
Year.
of Road.
age.
Pass'gers.
Freight. Mails, etc. Total.
Expenses.
Earnings.
$
p c.
1845.
$506,473
19.35
$10,102
$3,419
$
$13,521
$5,520
$8,001
nil.
nil.
1846-
1,010,542
38 25
39,756
16,098
2,393
58,247
21,752
36,495
"
"
1847.
1,167,157
38.25
70,207
48,319
5,425
123,951
52,291
71,660
50,684
7
1848.
1,588,184
52.35
88,637
71.807
4,798
165,242
78,444
86,798
69,960
8
1849.
1,766,678
52 35
106,262
79,818
5,992
192,072
95,091
96,981
38,049
3
1850.
1,798,825
52.35
112,918
71,596
7,073
191,587
104,147
87,440
70,571
51
1851.
1,801,592
52.35
111,861
76,579
11,455
199,895
102,185
97,710
nil.
nil.
1852.
1,801,946
52.35
124,787
93,237
10,981
229,005
143,156
85,849
64,180
5
1853.
1,802,245
52.35
133,655
113,794
10,772
258,221
156,122
102,099
51,344
4
1854.
1,802,245
52.35
135,961
130,508
11,302
277,771
174,828
102,943
57,762
41
1855.
1,802,245
52 35
142,926
129,647
13,989
286,562
196,067
90,495
64,180
5
1856.
1,801,943
52.35
143,675
131,405
13,589
288,669
193,045
95,624
51,344
4
1857.
1,801,943
52,35
133,161
120,741
13,808
267,710
186,667
81,043
25,672
2
1858.
1,801,943
52.35
113,165
111,688
13,537
238,390
155,293
83,097
25,672
2
1859.
1,801,943
52.35
121,884
135,293
14,425
271,592
163,367
108,225
57,762
41
15
ys $24,055,904
724 05
1,588,957
1,333,939
139,539
3,062,435
1,827,975
1,234,460
627,180
Aver.
1,603,727
48.27
105,931
88,929
9,302
204,163
121,865
82,297
41,812
31
CAMBRIDGE RAILROAD.
(See Boston City Passenger Railroads.)
CHELSEA BEACH RAILROAD.
(See Boston City Passenger Railroads.)
# Not including 8 per cent. on $307,500 Preferred Stock ($24,600), paid annually since 1850.
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110
MASSACHUSETTS-CHARLES RIVER BRANCH.
CHARLES RIVER RAILROAD.
(Now a part of the New York and Boston Railroad.)
LENGTH OF ROAD-Boston to Woonsocket Village
29.50 miles.
The Charles River Railroad Company was chartered in May, 1852, and
authorized to construct a road from the terminus of the Charles River
Branch Railroad in Dover to Woonsocket Village. The charter also pro-
vided for the consolidation of these two companies, which was consummated
on the 1st Nov., 1853, the united corporations taking the name of the Charles
River Railroad Company. In 1855 the new Company became merged in
the New York and Boston Railroad Company in Massachusetts.-(See
Charles River Branch, and Boston and New York Railroads.)
CHARLES RIVER BRANCH RAILROAD.
(Now a portion of the New York and Boston Railroad.)
LENGTH OF RoAD-Boston to Needham Plain
8.60 miles.
The Charles River Branch Railroad Company was chartered on the 1st May,
and organized on the 9th June, 1849. Construction was commenced in July,
1850, and the road completed to Newton Upper Falls, 6.1 miles, in the sum-
mer of 1852, and to Needham Plain, 8.6 miles, in the following spring. The
charter authorized its construction to Dover, a total distance of 12.1 miles.
On the 1st November, 1853, in pursuance of the 6th section of the act in-
corporating the Charles River Railroad Company, a consolidation was effected
between the two companies under the name of Charles River Railroad Com-
pany, (which see); and in 1855 the united company was merged into the New
York and Boston Company. The cost of the Charles River Branch road to
the date of consolidation was $253,808. It has been operated by the Boston
and Worcester Company from its first opening.-(See New York and Boston
Railroad.)
CAPE COD BRANCH RAILROAD.
(Financial year ending 30th November, 1856.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
Benj. Burgess
Boston, Mass.
Alexander Baxter
Hyannis, Mass.
M.S. Lincoln
"
"
Richard Borden
Fall River, "
John H. Shaw
Nantucket, N.Y.
N.S. Simpkins
Yarmouthport, "
J. H. W. PAGE, President
Longwood, Mass.
E. N. WINSLOW, Treasurer and Superintendent.
Hyannis, "
PRINCIPAL OFFICE
HYANNIS, Barnstable Co., Mass.
LENGTH OF RoAD-Main Line, Middleboro' to Hyannis.
46.10 miles.
Branch to wharves at Wareham
1.04 "
Second track, sidings, etc., 2.70 miles.
ROLLING STocK-Locomotive Engines
7
Cars :-Passenger, 10; baggage, 5; merchandise, 43, and others, 61
119
The Cape Cod Branch Railroad Company was chartered in April and orga-
nized in July, 1846. The road was opened as follows:-from Middleboro'
to Agawam, 151 miles, on the 31st January, and to Sandwich, 271 miles, on
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MASSACHUSETTS-CAPE COD BRANCH.
111
the 29th May, 1848; and early in 1849, the branch to the wharves, at Ware-
ham, was completed. In 1853 the section between Sandwich and Hyannis
was commenced, and the road was opened through to that point, where it
connects with the Nantucket steamers, in the following year.
SHARE CAPITAL-Authorized, $800,000, in 10,000 $80 shares.
Paid in, - 681,690 on 9,298 shares.
FUNDED DEBT-$190,000; in detail as follows-
Six per cent. coupon bonds
$144,600
-Authorized in 1855, and issued at several dates, and payable 1st Sept.,
1865 ; interest payable half yearly, at the Company's office.
Six per cent. bonds, due 1st December, 1861
$45,400
Interest payable half yearly, at Company's office. The bonds are not se-
cured by mortgages upon the road.
FLOATING DEBT-$39,499, viz. : bills payable.
COST OF ROAD AND EQUIPMENT-$1,031,625 : in detail as follows-
Graduation and masonry
$207,921
Locomotive engines
854,546
Wooden bridges
30,306
Passenger and baggage cars
31,084
Superstructure, including iron
433,121
Merchandise and other cars
38,235
Stations, buildings and fixtures
91,290
Engineering
21,055
Land, land damages and fences
76,824
Agencies and other expenses
47,243
INCOME ACCOUNT FOR THE YEAR ENDING 30TH NOVEMBER, 1859.
Receipts-
Disbursements-
Passenger earnings
$83,654
Maintenance of way
$20,298
Freight
"
28,895
Repairs of engines and cars
15,321
U.S. mail
"
5,500
Miscellaneous expenses
33,733
Rents and wharfage
677
Interest
11,802
Discount and exchange on bonds
2,274
Surplus income
35,298
Total
$118,726
Total
$118,726
GENERAL LEDGER BALANCE SHEET, 1ST DECEMBER, 1859.
Dr.
Cr.
Cost of road
$907,760
Share capital
$681,690
" equipment
123,865
Funded debt
190,000
Assets, etc
60 643
Floating debt
39,499
Dividends, etc., due
5,140
Earnings invested
175,939
Total
$1,092,268
Total
$1,092,268
COST, EARNINGS, EXPENSES, ETC., YEARLY.
Cost of Road, Mile-
Gross Earnings
Operating Earnings,
Div.
Year.
& equip't.
age.
Pass'r.
Freight.
Mails,&c.
Total.
expenses.
less exp.
$
p.c.
1848
$587,116
27.80
$28,017
$7,617
$
$35,635
$19,162
$16,473
$6,860
2
1849
616,759
28.84
35,430
14,973
879
51,282
31,145
20,137
nil.
nil.
1850
626,543
28.84
36,794
18,407
1,655
56,856
28,289
28,566
"
"
1851
633,676
2884
36,472
18,533
1,731
56,736
30,998
25,738
"
"
1852
633,966
26.84
40,487
18,695
1,571
60,743
30,687
30.056
7,500
21
1853
633,966
28.84
46,692
21,009
1,241
68,942
32,245
36,697
20,000
61
1854
963,974
47.14
76,261
23,780
2,099
102,140
50,481
51,658
25,000
8
1855
997,251
47.14
89,430
24,699
5,091
119,221
70,609
48,612
20,450
3*
1856
1,028,151
47.14
94,583
23,505
5,985
124.073
84,480
39,593
nil.
nil.
1857
1,031,625
47.14
94,527
22,410
6,022
122,959
83,061
39,898
"
"
1858
1,031,625
47.14
79,553
21,121
6,172
106,846
57,363
49,483
=
"
1859
1,031,625
47.14
83,654
28,895
6,177
118,726
69,352
49,374
"
"
12
yrs
$9,816,277
454.84
741,900
243,634
38,623
1,024.157
587,872
436,285
79,810
Aver.
818,023
37.90
61,825
20,303
3,219
85,347
48,997
36,350
6,651
1.8
# Three per cent. on $681,699 stock, paid in stock.
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112
MASSACHUSETTS-DANVERS.
CHESHIRE RAILROAD.
The Cheshire Railroad Company was formed by the consolidation of the
Cheshire Company of New Hampshire and the Winchendon Company of
Massachusetts. The latter was chartered in 1845, with authority to con-
struct a railroad from South Ashburnham to the State line and consolidate with
the New Hampshire Company. The union was soon afterwards effected
and construction commenced in October of the same year. That portion of
the line within Massachusetts, about 10} miles, was opened for public use on
the 1st October, 1847.-(See Cheshire Railroad of New Hampshire.)
DANVERS RAILROAD.
(Financial year ending 30th November, 1859.)
GEORGE TAPLEY, President.
Danvers, Mass.
LENGTH OF Road-South Reading to North Danvers
9.20 miles.
Sidings and other track, 0.21 miles.
The Danvers Company was chartered in 1852, and commenced the construc-
tion of its road in 1853, which was opened to the public in 1855. On the
28th May, 1853, a contract was made with the Danvers and Georgetown,
and Newburyport Railroad Companies, whereby their trains were allowed
to run over the road of the former. On the 1st of March, 1855, a contract
was made by the Danvers with the Boston and Maine Company, whereby
the latter agreed to assume the contracts of the former with the Danvers
and Georgetown, and Newburyport Companies, and to run and maintain
its road for 100 years from 1st May, 1853. As the consideration therefor,
the Boston and Maine Company were to endorse the obligations of the Dan-
vers Company to the amount of $125,000, and pay the interest thereon at
the rate of six per cent., and the principal at their maturity, out of the anti-
cipated profits of the road, and to pay in addition the net profits of the road
after deducting running expenses, at the same per mile, as upon its own line,
and the interest on the obligations described. The earnings of this line are
included in those of the Boston and Maine road. It has probably been run
at a loss.
SHARE CAPITAL-Authorized, $100,000, in 2,000 $50 shares.
Paid,
-
-
65,125.
FUNDED DEBT-84,500 in detail as follows—
Six per cent. obligations guaranteed by the Boston and Maine Company
$84,500
-dated 1st March, 1855, and payable, principal 1st March, 1875 and in-
terest semi-annually, 1st March and 1st Sept. The whole amount pro-
vided for was $125,000, of which $5,000 were paid to a Sinking Fund.
Cost OF ROAD AND EQUIPMENT-$218,839 in detail as follows-
Graduation and masonry
$90,208
I
Land, land damages, etc
$16,642
Superstructure, including iron
77,066
Engineering
2,615
Stations, buildings, etc
9,374
Agencies and expenses
22,934
Cost of road as per the several annual statements of the Company-1853,
$5,782; 1854, $118,031; 1855, $195,414; 1856, $203,150 1857, $203,059;
1858, $216,778, and 1859, $218,839.-(See Boston and Maine Railroad.)
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MASSACHUSETTS-DANVERS AND GEORGETOWN.
113
DANVERS AND GEORGETOWN RAILROAD.
(Now a part of the Newburyport Railroad.)
LENGTH OF Road-North Danvers to Georgetown
12.38 miles.
The Dancers and Georgetown Railroad Company was chartered in 1849, and
organized in 1851. Construction was commenced in the summer of 1852,
and the road opened for public use in the fall of 1853. On the 27th May,
1853, running arrangements had been agreed to with the Danvers and the
Newburyport Companies, and were carried out on the completion of the
road, the earnings being divided pro rata. On the 9th February, 1855, an
act was passed authorizing the consolidation of the Danvers and George-
town and the Newburyport Companies, which was consummated on the 22d
February of the same year, the united companies taking the corporate name
of the Newburyport Company.-(See Newburyport Railroad.)
The following statement exhibits the condition of the Danvers and George-
town Company on the 30th November, 1854 :
Share capital paid in
$72,560
Cost of road
$163,664
Floating debt
122,758
Profit and loss
31,654
Total
8195,318
Total
$195,318
DORCHESTER AND MILTON BRANCH RAILROAD.
(Financial year ending 30th November, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
Nathaniel F. Safford
Milton, Mass.
E. P. Tileston
Milton, Mass.
Amor Hollingsworth
"
"
R. M. Todd
"
"
NATHANIEL F. SAFFORD, President
Milton, Mass.
SETH D. W HITNEY, Treasurer
"
"
PRINCIPAL OFFICE
MILTON, Norfolk Co., Mass.
The Dorchester and Milton Branch Railroad Company was chartered on the
16th April, 1846, and its road was opened for use on the 1st January, 1848.
Since its completion it has been operated by the Old Colony and Fall River
Company. The present contract between the two companies, which is dated
the 3d February, 1858, to continue till 1st January, 1861, provides that the
Old Colony and Fall River Company shall run the Dorchester and Milton
Railroad, supplying the necessary amount of rolling stock, and receive there-
for one-half the gross earnings, and, in addition, 50 cents per mile for every
mile run by its trains; the Dorchester and Milton Company to keep its
road in repair.
SHARE CAPITAL-Authorized, $130,000, in 1,300 $100 shares.
Paid in, - 73,340.
FUNDED DEBT-$36,900: in detail as follows—
Six per cent. coupon bonds
$25,000
-dated 1st January, 1859, and payable, principal 1st Jan., 1864; inter-
est semi-annually, 1st Jan. and 1st July, in Boston. These bonds are guar-
anteed by the Old Colony Company, to which the road is mortgaged. The
remainder of the funded debt ($11,900) is secured by several petty mort-
gages on the property of the Company.
15
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114
MASSACHUSETTS-EASTERN.
FLOATING Дввт—$6,050.
COST OF ROAD AND EQUIPMENT-$136,789 in detail as follows-
Graduation and masonry
$40,725
Superst ucture, including iron
30,052
I
Stations, buildings, etc
$11,721
Wooden bridges
6,209
Land, land damages and fences
32,858
Engineering, agencies, etc
35,224
Cost at the end of years.-1847, $74,265 ; 1848, $114,224; 1849, $128,010;
1850, $132,171; 1851, $136,382 ; 1852, $136,372; 1853, $136,382; 1854,
$136,889, and the same to present date.
INCOME ACCOUNT FOR THE YEAR ENDING 30TH Nov., 1859.
Receipts-
Disbursements-
Total from all sources
$6,559
Operating expenses
83,345
Interest
2,100
Net income
1,114
Total
$6,559
Total
$6,559
The Company has published no statement of the earnings and expenses
of its operations from year to year. These are included in the accounts of
the Boston and Providence Company.
DORCHESTER RAILROAD.
(See Boston City Passenger Railroad, postea.)
DORCHESTER EXTENSION RAILROAD.
(See Boston City Passenger Railroad, postea.)
EASTERN RAILROAD.
(Financial year ending 30th November, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
Micajah Lunt
Newburyport, Mass.
Franklin Haven
Boston, Mass.
Nathan D. Chase
Lynn, "
Samuel Hooper
"
"
Henry H. Ladd
Portsmouth, N.H.
John C. Lee
Salem, "
GEORGE M. BROWNE, President
Salem, Mass.
JOHN B. PARKER, Treasurer
Boston, "
JEREMIAH PRESCOTT, Superintendent
"
"
PRINCIPAL OFFICE
BOSTON (Phenix Buildings), Suffolk Co., Mass.
LENGTH OF RoAD-Boston to State Line, N.H.
44.10 miles.
Branch Roads :-Marblehead Branch-Salem to Marblehead 3.50
Gloucester Branch-Beverly to Gloucester
13.50
Salisbury Branch-Amesbury to Salisbury
3.41
Saugus Branch-South Malden to Lynn
10.10
South Reading Branch-Salem to South Reading
8.10-38.61 "
Total length of line owned by Company
82.71 miles.
Second Track, 16.6 miles; sidings, etc., 8.75 miles.
Leased Roads :-Eastern Railroad in New Hampshire
16.55 miles.
Essex Railroad-Salem to Lawrence
19.86 "
Total mileage operated by Company
119.12 miles.
ROLLING STOCK-Locomotive engines
55
Cars :-Passenger 46, baggage 13, freight 300, gravel 55
414
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MASSACUUSETTS-EASTERN
115
The Eastern Railroad Company of Massachusetts was chartered 14th Aprit,
1836. The construction of the road was commenced in August following,
and the different sections of it opened as follows :-from East Boston to
Salem, 13 miles, on the 27th August, 1838; from Salem to Ipswich, 12
miles, on the 18th December, 1839; from Ipswich to Newburyport, 9 miles,
on the 28th August, 1840, and from Newburyport to the New Hampshire
line, on the 9th November, 1840. The Marblehead Branch was authorized
in 1839, and completed on the 10th December of the same year. The Glou-
cester and Salisbury branches, authorized in 1845, were completed-the for-
mer on the 1st December, 1847, and the latter on the 1st January, 1848.
The Saugus Branch Railroad Company was chartered in 1848. Its road
was completed early in 1853, and purchased by the Eastern Company under
the authority of an act of the Legislature, passed 30th April, 1852.
The South Reading Branch Railroad Company was chartered on the 26th
April, 1848, and the road completed on the 1st September, 1850. On the
1st July, 1851, the Eastern Company purchased its share capital, and also its
engines and cars, and since the 1st October of the same year has operated
the road. Though owned by the Eastern Company, a separate organization
is maintained, and separate report made annually to the Legislature.-(See
South Reading Branch Railroad.)
The Eastern Railroad of New Hampshire was leased to the Massachusets
Company on the 18th February, 1840, for the term of 99 years, the latter
agreeing to keep the road in repair, operate it as a part of its own line,
and pay to the stockholders of the New Hampshire Company the same divi-
dends as to its own. The Company was chartered on the 18th June, 1836.
The construction of its road was commenced in 1839; and completed and
connected with the Massachusetts road on the 9th November, 1840. Its
construction account, at the close of the fiscal year 1859, was $525,205; the
share capital of the Company, $492,500.-(See Eastern Railroad of N. Hamp.)
On the 28th April, 1847, the Eastern, and Boston and Maine Railroad
Companies took a lease of the Portland, Saco and Portsmouth Railroad for
a period of 99 years; the two companies guaranteeing 6 per cent. annually
on the cost of the leased line, and sharing equally in the profits and losses
growing out of the lease, excepting an allowance of 25 cents per passenger
in favor of the company transporting such between the leased line and Boston.
The earnings of the leased line have been sufficient to keep it in repairs and
pay the rent guaranteed.-(See Portland, Saco and Portsmouth Railroad.)
On the 31st August, 1846, the Eastern Railroad Company took a lease of
the road of the Essex Railroad Company for a term of five years from the
date of its completion, agreeing to maintain and operate the same, charging
therefor the average cost of maintaining and running its own and the Essex
road, excepting the cost of the ferry; the lease to be binding on the Essex
Railroad Company until the payment of its liabilities to the Eastern. The
road has been run by the Eastern Company since its opening. The Eastern
Company also guaranteed, and have paid, the interest on the 1st Mortgage
Bonds of the Essex Company to the amount of $214,400, which fall due
1st Sept., 1861. There were due from the Essex to the Eastern Company,
at the date of the last annual report of the latter.-$264,102.-(See Essex
Railroad Company.)
In 1852 measures were taken to change the entrance of the road into the
City of Boston, avoiding the ferry at East Boston. This change was ac-
complished on the 10th of April, 1854, when trains commenced running to
and from the station on Causeway street. The new route makes use of that
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116
MASSACHUSETTS-EASTERN.
portion of the Grand Junction Railroad between the Salem Turnpike and
the crossing of the Boston and Maine Railroad, under a lease, extending 10
years from March, 1852, paying as rent the sum of $11,000 annually.
SHARE CAPITAL-Authorized, $4,150,000, in 41,500 $100 shares.
Paid in, - $2,853,400, in 28,534
"
"
FUNDED DEBT-$2,090,500 described as follows—
Massachusetts State 5 per cent. bonds
$500,000
-dated 1st July, 1837, $100,000; 1838, $100,000, and 1839, $300,000;
payable, principal in 20 years, and interest quarterly, 1st January, 1st April,
1st July and 1st October, in Boston. These bonds constitute the sole mort-
gage on the road. In 1856 an Act was passed by the Legislature, extending
the time of payment, and making the capital payable in sums of $75,000 per
annum after 1864.
Five per cent. bonds
$710,000
-dated 1st July, 1852, and payable, principal 1st July, 1862, and interest
semi-annually 1st January and 1st July in London.
Six per cent. bonds
$445,500
-dated 1st August, 1854, and payable, principal, 1st August, 1874, and
interest semi-annually 1st February and 1st August, in Boston.
Income 6 per cent. bonds
$375,000
-dated 1st December, 1854, and payable, in sums of $75,000 annually on
the 1st December; interest semi-annually 1st June and 1st Dec., in Boston.
Interest on all classes of Bonds has been regularly paid.
To assist in the construction of the Great Falls and South Berwick Rail-
road, the Eastern Company guaranteed 1st Mortgage Bonds of that Com-
pany to the amount of $60,000, bearing 6 per cent. interest, dated Sept. 1st,
1854, and payable Sept. 1st, 1864; interest payable 1st of March and Sept.,
at the office of the Eastern Railroad Company, by. which it has been paid as
it has fallen due.
FLOATING DEBT-$60,510.
COST OF ROAD AND EQUIPMENT-$1,590,999, in detail, as follows :
Graduation and masonry
$748.158
Locomotives
$190.888
Wooden bridges
417,046
Passenger and baggage cars
118,571
Superstructure, including iron
1,106,573
Freight and other cars
147,065
Stations, buildings and fixtures
542,268
Engineering
273,913
Land, land damages and fences
702,081
Agencies and other expenses
344,437
-which amount is distributed to the several works as follows :
Main Line
83,124,848
Salisbury Branch
$79,189
Marblehead Branch
55,843
Saugus Branch
236,247
Gloucester Branch
338,880
South Reading Branch
299,468
Equipment, $456,524. Property owned by Company in addition to the cost
of road, $573,617, of which $300,000 consist of lands at East Boston.
GENERAL LEDGER BALANCE SHEET, 31sT MAY, 1859.
Dr.
Cr.
Railroad and branches
$4,134,476
Share capital
$2,853,409
Essex Railroad
264,103
State of Massachusetts
500,000
Equipment
456,524
Bonds
1,605,500
Real estate
85,049
Notes payable
76,653
Stocks and bonds
35,536
Borrowed money
22,650
Notes receivable
41,456
Due other roads, etc
26,046
Cash and cash balances
62,316
Coupons for interest unpaid
6,117
Material on hand
49,259
Various current accounts
38,344,
Total
$5,128,719
Total
$5,128,719
Digitized by
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MASSACHUSETTS-EASTON BRANCH.
117
INCOME ACCOUNT FOR THE YEAR ENDING 30TH Nov., 1859.
Receipts-
Disbursements-
Passenger earnings
$512,557
Maintenance of way
$113,959
Freight
is
138,734
Repairs of rolling stock
63,709
U.S. Mail
"
9,624
Cost of wood, 11,225 cords
50,422
Rents
8,259
" coal, 970 tons
5,367
Miscellaneous
24,235
Oil and waste
7,047
Salaries, wages, etc
105,977
Taxes and insurance
10,130
Grand Junction Railroad Co
11,000
Interest on bonds, etc
118,890
Surplus income from 1858
77,844
Surplus income
284,750
Total
$771,253
Total
$771,253
COST, EARNINGS, EXPENSES, ETC., YEARLY.
Cost of
Mile-
Gross Earnings
Operating Earnings,
-Div.-
Yrs.
Road, etc.
age.
Pass'er.
Freight.
Mails.
Total.
expenses.
less exp.
8
p.c.
1838.
$831,903
13.20
$37,422
(4 mos. business)
$37,422
$17,818
$19,604
1839.
1,036,196
28.58
113,068
7,375
5,178
125,621
70,592
55,029
1840.
2,193,121
58.15
164,971
7,325
11,001
183,297
105,293
78,004
81,014
5
1841.
2,767,034
58.15
257,735
12,256
29,583
299,574
179,959
119,615
110,166
51
1842.
2,799,417
58.15
237,023
16,083
16,062
269,168
144,039
125,129
120,000
6
1843.
2,888,631
58.15
240,558
21,312
17,692
279,562
129,640
149,922
61,740
3
1844.
2,888,044
58.15
293,762
33,195
16,942
343,899
134,319
209,580
171.187
71
1845.
2,971,561
58.15
297,440
39,933
12,776
350,149
116,840
233,309
182,600
8
1846.
2,994,268
58.18
310,061
46,099
15,178
371,338
132,556
238,782
182,600
8
1847.
3,437,206
75.06
343,373
50,455
31,013
424,841
135,084
289,757
218,600
8
1848.
3,595,393
75.06
378.068
58,149
42,940
479,157
182,216
296,941
239,628
8
1849.
3,619,265
75.06
404,072
70,402
43,455
517,929
183,980
333,949
259,724
8
1850.
3,620,391
75.06
385,608
67,574
85,894
539,076
185,218
353,858
267,400
8
1851.
3,620,391
83.16
372,168
60,005
69,881
502,054
195,326
306,728
267,400
8
1852.
3,620,391
83.16
374,798
69,974
44,201
488,973
218,996
269,977
250,687
7f
1853.
3,620,391
83.16
412,054
97,320
111,436
620,810
251,423
369,387
200,550
6
1854.
4,947,459
89.16
443,490
105,444
181,335
730.269
299,578
430,691
234,123
7
1855.
5,121,016
89.16
462,924
107,431
76,925
647,280
305,997
341,283
nil.
nil.
1856.
5,087,434
99.26
527,634
134,311
55,923
717,868
395,926
321,942
"
"
1857.
5,090,218
99.26
495,222
115,403
43,216
653,841
370,332
283,509
"
"
1858.
5,090,741
99.26
468,703
109,588
38,492
616,783
332,267
264,516
"
"
1859.
5,116,205
99.26
512,557
138,734
42,118
693,409
367,604
325,805
"
"
22
ys.
$76,956,676
1,573.94
7,532,711
1,368,368
991,241
9,892,320
4,455,003
5,437,317
2,847,419
Aver.
3,498,030
71.54
342,396
62,198
45,056
449,650
202,499
247,150
129,428
4.3
NOTE.-The cost of the road in the above table, embraces the cost of the Eastern Railroad of
New Hampshire from and after 1840.
EASTON BRANCH RAILROAD.
(Financial year ending 30th November, 1856.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60
Oliver Ames, Jr.
Cyrus Lathrop,
A. A. Gilmore.
OAKES AMES, President
Stoughton, Mass.
LENGTH OF RoAD-Stoughton to Easton
3.78 miles.
ROLLING STOCK-None. Owned by Boston and Providence Railroad Company.
The Easton Branch Railroad Company was chartered in 1852, and the road
constructed in 1854-5. Since its opening in the spring of 1855 it has been
equipped and operated, (in connection with the Stoughton Branch Railroad)
by the Boston and Providence Railroad Company.
SHARE CAPITAL-Authorized, $50,000, in 500 $100 shares.
Paid in,
-
49,326, in 490 $100 shares.
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118
MASSACHUSETTS-ESSEX.
FLOATING DEBT-$4,400.
Cost of Road-$55,894: in detail as follows—
Graduation and masonry
$15,541
Land, land-damages and fences
$7,847
Superstructure, including iron
24,417
Engineering and agencies, etc
1,287
Stations, buildings, and fences
7,100
INCOME ACCOUNT FOR THE YEAR ENDING 31sr Nov., 1859.
Receipts-
Disbursements-
Passenger earnings
$3,820
Maintenance of way
$709
Freight
"
2,697
Operating expenses
1,563
Interest
316
Dividend 6 per cent
3,000
Surplus income
928
Total
$6,517
Total
$6,517
COST OF ROAD, EARNINGS, EXPENSES, ETC., YEARLY.,
Cost of Road Mile-
Gross Earnings
Ex-
Net
-Div
Year.
& Equipm't. age.
Pass'ger.
Freight. Mails, etc. Total.
penses.
Earnings.
8
p.c.
1855
$54,399
3.78
$2,098
$811
$2,909
$1,361
$1,548
1,250
21
1856
55,344
3.78
3,856
2,084
5,940
2,643
3,297
2,750
51
1857
55,353
3.78
3,394
1,832
5,226
2,321
2,905
2,250
41
1858
55,894
3.78
3,325
1,830
5,155
2,400
2,755
2,000
4
1859
55,894
3.78
3,820
2,697
6.517
2,273
4,244
3,000
6
5 years
-$276,883
18.90
16,493
9,254
25,747
10,998
14,749
11,250
Average.
55,376
3.78
3,298
1,851
5,149
2,199
2,950
2,250
41
ESSEX RAILROAD.
(Financial year onding 30th November, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
David Pingree
Salem, Mass.
Henry G. Gray
Marblehead, Mass.
N. Weston
"
"
Jas. N. Sanderson
Lynn,
"
N. B. Mansfield
"
"
Eben Sutton
South Danvers,
3
DANID PINGREE, President
Salem, Mass.
JOHN B. PARKER, Treasurer
"
"
JEREMIAH PRESCOTT, Superintendent
"
"
PRINCIPAL OFFICE
Office of Eastern RR. Co., Boston, Suffolk Co., Mass.
LENGTH OF Road-Salem to North Andover
19.86 miles.
Branch to Salem Harbor
1.32
"
Second track, sidings, turnouts, etc., 2.84 miles.
ROLLING STOCK-None. Run by Eastern Railroad Company.
The Essex Railroad Company was chartered on the 7th March, and orga-
nized on the 29th May, 1846, and the road was soon after placed under con-
tract. The first section from Salem to South Danvers, 14 miles, was opened
on the 18th January, 1847, and the whole line in 1848. Previous to the
construction of the road a contract for running the same for five years was
made with the Eastern Company, the latter to charge expenses at the same
rate per mile as it cost to its own road and branches, including the road of
the Essex Company, and to credit the latter with the net earnings; the con-
tract to be binding on the Essex Company till the payment of its liabilities
to the Eastern. The road has since its opening been run by the Eastern
Company.
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MASSACHUSETTS-FAIRHAVEN BRANCH.
119
SHARE CAPITAL-Authorized, $700,000, in 7,000 $100 shares.
Paid up. - 299,107.
FUNDED DEBT-$280,261 : in detail as follows—
1st Mortgage, 6 per cent. bonds
$280,261
-Of these $214,406 are coupon bonds, the interest of which is guaranteed
by the Eastern Railroad Company, and has been regularly paid. They are
dated 1st Sept., 1851, payable 1st Sept., 1861, interest semi-annually, 1st
Jan. and 1st July, at the office of the Eastern Railroad Company. The
balance of the bonds (not coupon, $61,861) is held by the Eastern Company.
They are dated 9th May, 1856. Upon these the interest has not been paid.
The whole amount provided for by this mortgage was $415,861.
FLOATING DEBT-$197,428.
COST OF ROAD, ETC.-$747,008 : in detail as follows-
Graduation and masonry
$211,732
Land, land-damages and fences
$167,767
Wooden bridges
32,374
Superstructure, including iron
20,783
---
Merchandise cars
4,416
100,252
Engineering
24,426
Stations, buildings and fixtures
Agencies and other expenses
95,258
INCOME ACCOUNT FOR THE YEAR ENDING 30TH Nov., 1859.
Receipts-
Disbursemento-
Passenger earnings
$23,079
Maintenance of roadway
$10,496
Freight
"
29,009
Repairs of motive power, etc
8,881
U.S. mail
"
792
Fuel, and miscellaneous
31,041
Rents
8,800
Interest on guaranteed Bonds
12,768
Miscellaneous
402
"
due Eastern Co
11,850
Profit and loss
12,954
Total
$75,036
Total
$75,036
GENERAL LEDGER BALANCE SHEET, 1ST Dec., 1859.
Dr.
Cr.
Cost of road
$747,008
Share capital
$299,108
Debit to profit and loss
29,789
Funded debt
280,261
Floating debt
197,428
Total
$776,797
Total
$776,797
COST, EARNINGS, EXPENSES, ETC., YEARLY.
Cost
Mile-
Gross Earnings
Operating
Net
Div
Year.
of Road.
age.
Pass'gers.
Freight. Mails, etc.
Total.
Expenses.
Earnings.
8
P c.
1847.
$160,252
1.75
$3,476
$118
$
$3,594
$4,702
Loss.
nil.
nil.
1848.
421,574
19.86
9,966
641
10,607
13,367
"
"
"
1849.
484,948
21.18
19,937
8,528
28,465
13,347
15,118
"
"
1850.
537,869
21.18
25,156
22,227
47,383
20,000
27,383
"
"
1851.
602,135
21.18
34,296
20,336
54,632
24,918
29,714
"
"
1852.
609,007
21.18
21,082
10,484
5,560
37,126
34,537
3,589
"
"
1853.
738,425
21.18
23,623
14,525
9,531
47,679
33,962
13,717
"
"
1854.
747,008
21.18
26,223
14,088
10,935
51,246
36,247
14,999
"
"
1855.
747,008
21 18
22,325
16,637
10,394
49,356.
40,592
8,764
"
.6
1856.
747,008
21 18
24,172
30,581
12,003
66,756
58,073
8,683
"
"
1857.
747,008
21.18
21,742
34,792
13,375
69,909
53,868
16,041
"
"
1858.
747,008
21.18
21,034
26,910
10,016
57,960
45,665
12,295
"
"
1859.
747,008
21.18
23,079
29,009
9,993
62,081
50,418
11,663
"
"
13 ys $8,036,258
254.59
276,111
228,876
81,807
586,794
429,696
157,098
"
"
Aver. 618,817
19.58
21,239
17,606
6,293
45,138
33,053
12,085
"
"
FAIRHAVEN BRANCH RAILROAD.
(Financial year ending 30th November, 1850.)
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120
MASSACHUSETTS-FAIRHAVEN BRANCH.
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
W. L. B. Gibbs
Fairhaven, Mass.
E. Sawin
Fairhaven, Mass.
Nathaniel Church
"
"
Loring Meigs
Mattapoisett,
"
I.F. Terry
"
"
Lemuel C. Tripp
Fairhaven,
"
E. SAWIN, President
Fairhaven, Mass.
HERVEY TRIPP, Treasurer
"
"
HORACE Scorr, Superintendent
"
"
PRINCIPAL OFFICE
FAIRHAVEN, Bristol Co., Mass.
LENGTH OF RoAD-Fairhaven to West Wareham Junction
15.11 miles.
Sidings, turnouts, etc., 0.68 mile.
ROLLING STocK-Locomotive Engines
2
Cars :-Passenger, 6; baggage, 2; merchandise, 29, and others, 26
63
The Fairhaven Branch Railroad Company was chartered in 1851. The con-
struction of its road was commenced in 1852, and completed on the 2d Oct.,
1854. It is connected with New Bedford by a ferry from Fairhaven.
SHARE CAPITAL-Authorized, $300,000, in 3,000 $100 shares.
Paid in, - $228,507 on 2,426
"
FUNDED DEBT-None.
FLOATING DEBT-$256,464.
COST OF ROAD AND EQUIPMENT-$491,516: in detail as follows—
Graduation and masonry
$102,410
Passenger and baggage cars
$12,833
Wooden bridges
1,535
Merchandise and other cars
23,092
Superstructure, including iron
124,948
Engineering
10,256
Stations, buildings and fixtures
26,815
Agencies and other expenses
39,456
Land, land damages and fences
31,435
Ferry-boats and slips
66,764
Locomotive engines
22,863
Wharves and real estate
28,967
INCOME ACCOUNT FOR THE YEAR ENDING 30TH Nov., 1859.
Receipts-
Disbursements-
Passenger earnings
$28,133
Maintenance of way
$4,809
Freight
"
11,206
Repairs of engines and cars
3,260
U.S. Mail
"
1,700
Operating expenses
24,815
Ferry
"
4,066
Interest
12,470
Express
"
778
Surplus income
2,339
Rents
1,810
Total
$47,693
Total
$47,693
GENERAL LEDGER BALANCE SHEET, 1ST DEC., 1859.
Dr.
Cr.
Road
$336,996
Share capital
$228,657
Equipment
58,789
Floating debt
256,464
Ferry-boats and slips
66,764
Earnings invested
6,395
Two wharves
23,967
Real estate
5,000
Total
$491,516
Total
$491,516
CosT, EARNINGS, EXPENSES, ETC., YEARLY.
Cost of
Mile-
Gross Earnings
Operating Earnings, -Div.-
Year.
Road, etc.
age.
Pass'er.
Freight.
Mails, etc.
Total.
expenses.
less exp.
8
p.c.
1854
$351,340
15.11
$182
$182
$3,227
nil.
nil.
1855
446,024
15.11
834,764
12,165
13,389
60,318
26,377
33,941
"
"
1856
472,301
15.11
30,397
13,117
6,857
50,371
35,558
14,813
"
"
1857
485,388
15.11
31,009
11,455
8,288
50,752
36,389
14,363
"
"
1858
482,937
15.11
24,489
10,399
8,165
43,053
31,361
11,692
"
"
1859
491,516
15.11
28,133
11,206
8,354
47,593
32,884
14,809
=
"
.
6
yrs.
$2,729,506
90 66
148,792
58,342
45,235
252,369
165,796
86,573
"
"
Aver
454,926
15.11
24,799
9,724
7,539
42,061
27,633
14,429
"
"
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MASSACHUSETTS-FITCHBURG.
121
FALL RIVER RAILROAD.
(Now a part of the Old Colony and Fall River Railroad.)
LENGTH OF Road-North Braintree to Fall River
42.24 miles.
The Fall River Railroad Company was a consolidation of the Fall River
Branch, the Middleboro', and the Randolph and Bridgewater Companies.
The Fall River Branch Company was incorporated on the 14th March,
1844, with authority to build a railroad from Fall River to Myrick's.
The Randolph and Bridgewater Company was incorporated on the 25th
March, 1845, and authorized to construct a railroad from Bridgewater to
the Old Colony Railroad in Braintree or Quincy.
Tne Middleboro Company was incorporated on the 26th March, 1845, and
authorized to construct a railroad from Bridgewater to the Fall River
Branch at Myrick's.
Under the powers granted to the last-named Company, a union of the
three corporations was consummated on the 8th August, 1845, and con-
firmed by a legislative act passed on the 16th April, 1846.
The Share Capital of the original companies was as follows: of the Fall
River Branch, $400,000; of the Randolph and Bridgewater, $400,000, and
of the Middleboro, $250,000-making a total of $1,050,000.
The construction of the road from Fall River to Myrick's Station was
commenced in 1844, and opened for public use on the 9th June, 1845. The
whole road to its junction with the Old Colony in Braintree was completed
and put in operation on the 16th December, 1846.
On the 7th September, 1854, the Fall River and the Old Colony Com-
panies were consolidated under authority conferred by an act of the Legis-
lature passed on the 25th March previous. At that time this Company had
no debt, and the cost of the road, etc., was represented solely by the origi-
nal share capital.-(See Old Colony Railroad.)
SHARE CAPITAL
$1,050,000
COST OF ROAD, ETC
$1,050,000
COST, EARNINGS, EXPENSES, ETc., YEARLY.
Cost.
Mile-
Gross Earnings
Operating
Net
-Div.-
Year.
of Road.
age.
Pass'gers. Freight. Mails, etc. Total.
Expenses.
Earnings.
$
p.c.
1846
828,084
41.83
51,520
11,616
983
64,119
53,784
10,335
nil.
nil.
1847
1,070,988
41.83
77,040
30,991
3,323
111,354
77,229
34,125
31,500
3
1848
1,145,983
42.24
118,391
62,335
3,618
184,344
71.924
112,420
68,250
6f
1849
1,146,003
42 24
102,638
65,544
5,861
174,043
110,875
63,168
31,500
3
1850
1,068,167
42.24
121,294
80,767
8,019
210,080
104,513
105,567
nil.
nil.
1851
1,050,000
42.24
133,393
91,095
7,834
232,322
132,113
100,209
78,750
7f
1852
1,050,000
42.24
132,907
88,556
7,982
229,445
129,855
99,590
84,000
8
1853
1,050,000
42.24
163,952
121,681
8,550
294,183
167,593
126,590
84,000
8
8
yrs.
$8,409,227
337.10
901,135
552.585
46,170
1,499,890
847,886
652,004
378,000
Aver.
1,051,153
42.12
112,642
69,073
5,771
187,486
105,985
81,501
47,250
4f
FITCHBURG RAILROAD.
(Financial year ending 30th November, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
Thomas Whittemore.
Cambridge, Mass.
W. E. Faulkner
Acton, Mass.
Boston,
"
P. B. Brigbam
Alvah Crocker
Fitchburg,
"
JOHN J. SWIFT, President
Boston, Mass.
"
"
M. D. BENSON, Treasurer
"
"
W. B. STEARNS, Superintendent
PRINCIPAL OFFICE
BOSTON, Suffolk Co., Mass.
16
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122
MASSACHUSETTS--FITCHBURG.
LENGTH OF ROAD-Main Line, Boston to Fitchburg
50.93 miles.
Watertown Branch (including Waltham and Watertown
Branch, and ice tracks)
7.85
"
I
Lancaster and Sterling Branch from Acton to Feltonville.
9.00
"
Total main and branch lines owned by Company
67.78 miles.
Second track on main line
50.93 miles.
Sidings and other tracks
19.12 " -70.05 "
Total length of single track owned by Company
137.83 miles.
Length of road leased, rented or operated, viz.
Marlboro Branch
3.90 miles.
Peterboro' and Shirley Railroad
23.60 " -27.50 "
Total length of road operated, exclusive of 2d track and sidings. 95.28 miles.
ROLLING STOCK- -Locomotive engines
29
Cars (8-wheel) :-Passenger, 28 baggage, 8; merchandise, 356
392
Cars (4-wheel) :-Baggage, 2; merchandise, 249 gravel, 40
291
The Fitchburg Railroad Company was chartered by the Massachusetts Legis-
lature on the 3d March, 1842, with authority to construct a railroad from
the Charlestown Branch Railroad, at Block Island. in West Cambridge, to
Fitchburg. The charter also entpowered the Company to purchase or lease
the Charlestown Branch Railroad. Under this provision space sufficient for
a single track along the route of that road was purchased in May, 1843.
The distance between Fitchburg and Block Island is 44.23 miles, and from
Block Island to the Charlestown terminus 5.11 miles-a total of 49.34 miles.
The construction of the road was commenced on the 20th May, 1843, and
that portion between Block Island and Waltham, about 5 miles, was com-
pleted on the 20th December of the same year, and operated by the Charles-
town Branch Company to 1st May, 1844. On the 17th June of the same year
the road was extended to Concord, 15 miles; to Acton, 7 miles, on the 1st Oc-
tober, and to Shirley Village, 12.25 miles, on the 30th December. The new
track along the Charlestown route was completed in August, and the whole
line to Fitchburg was opened for public use on the 5th March, 1845. On
the 1st September, 1845, the Fitchburg Company leased the Charlestown
road for 99 years, and soon after purchased the remaining property of that
Company. In the same year the construction of the second track was com-
menced, and completed in November, 1849. In 1848 the road was extended
from Swett's Wharf in Charlestown (its original eastern terminus) into Boston.
The Lancaster and Sterling Railroad Branch was chartered in 1846, and
united with the Fitchburg Company the same year. Its construction was
commenced in 1848 and completed in 1849. The Watertown Branch was
chartered in 1846, and united with the Fitchburg Company the same year.
Its construction was commenced in 1847, and completed in 1848.
On the 1st December, 1847, the Fitchburg Railroad Company took a lease
of the Peterboro' and Shirley Railroad for a period of 12 years from the 1st
January, 1848, agreeing to pay therefor 6 per cent. on its cost. The rent
was increased to 7 per cent. on the cost of the road after 1st July, 1852. On
the termination of the lease the Peterboro' and Shirley Railroad was pur-
chased by the Fitchburg Company for the sum of $132,666.
On the 1st November, 1853, the Fitchburg Company took a lease of the
Marlboro' Branch for a period of 30 years, agreeing to run and maintain the
same, and pay, as rent, therefor one half of the gross earnings of the business
Digitized by Google
MASSACHUSETTS-FITCHBURG.
123
coming from certain stations on the line of the Marlboro' Branch, and pass-
ing over the Fitchburg Railroad, or any portion of the same, or its branches.
SHARE CAPITAL-$3,540,000, in 35,400 $100 shares.
FUNDED DEBT-$100,000.
The Funded Debt of the Company is a note payable in June, 1860, which
will be paid at maturity.
COST OF ROAD AND EQUIPMENT-$3,540,000 : in detail, as follows—
Graduation and masonry
$757.696
Locomotive engines
$150,000
Wooden bridges
300,000
Passenger and baggage cars
31,000
Superstructure, including iron
905,000
Merchandise cars
169,149
Stations, buildings and fixtures
445,000
Engineering, agencies & other expenses 49,188
Land, land-damages and fences
732,966
INCOME ACCOUNT FOR THE YEAR ENDING 30TH Nov., 1859.
Receipts-
Disbursements-
Passenger earnings
$243,512
Maintenance of way
$93,168
Freight
"
396,971
Repairs of rolling stock
68,599
U.S. mail
"
9,874
"
stations
17,073
Rents
3,501
Wages, etc
10,811
Interest
5,627
Fuel, oil and waste
53,800
Expenses passenger department
59,952
"
freight
"
34,145
General expenses
32,111
Rent of Peterboro' and Shirley Railroad
22,373
Dividend 6 per cent
212,400
Surplus not divided
55,050
Total
$659,485
Total
$659,485
GENERAL LEDGER BALANCE SHEET, 1ST Dec., 1859.
Dr.
Cr.
Construction account
$3,540,000
Share capital
$3,540,000
Notes receivable
193,172
Profit and loss
247,307
Cash and cash funds
116,524
Notes payable
100,000
Fuel
Passenger receipts
20,251
Locomotives loaned Rut. & Burl'n Co.
21,500
Connecting roads
13,859
Real estate
16,572
Miscellaneous expenses
15,289
Stock materials
10,003
Unclaimed dividends
3,039
U.S. mails
4,125
Freight uncollected
15,909
Total
$3,939,745
Total
$3,939,745
COST, EARNINGS, EXPENSES, ETc., YEARLY.
Cost.
Mile-
Gross Earnings
Operating
Net
-Div.-
Year.
of Road.
age.
Pass'gers. Freight. Mails, etc. Total.
Expenses.
Earnings.
8
p.c.
1844
$992,433
39.25
$22,446
$20,313
8
$42,759
$15,924
$26,835
nil.
nil.
1845
1,477,477
49.34
100,817
99,997
3,182
203,996
78,333
125,662
46,000
4
1846
1,875,319
51.71
128,738
151,806
6,101
286,645
117,447
169,198
154,295
10
1847
2,406,723
54.71
165,092
203,529
17,116
390,737
161,433
229,303
176,340
10
1848
2,945,631
57.46
220,199
260,667
5,399
486,265
286,046
200,219
200,996
9f
1849
3,445,791
65.78
213,068
262,162
16,831
492,061
255,160
236,900
212,000
8
1850
3,552,282
65.78
252,859
270,568
28,180
551,607
257,083
294,524
276,800
8
1851
3,612,486
67.78
240,714
259,258
16,040
516,012
305,108
210,904
140,000
4
1852
3,633,673
67.78
253,371
311,778
9,419
574,568
335,587
238,987
212,400
6
1853
3,716,870
67.78
281,883
336,798
7,978
626,659
408,115
218,544
212,400
6
1854
3,730,965
67.78
301,416
390,884
12,338
704,638
424,442
280,196
212,400
6
1855
3,765,998
67.78
296,551
372,771
11,840
681,162
457,091
224 071
nil.
nil.
1856
3,872,820
67.78
272,927
384,628
11.419
668,974
414,527
254,447
125,900
3f
1857
3,540,000
67 78
256,288
356,345
13,198
625,831
369,150
256,681
212,400
6
1858
3,540,000
67.78
212,790
345,983
14,194
572,967
294,112
278,855
212,400
6
1859
3,540,000
67.78
243,511
396,970
19,004
659,485
392,035
267,450
212,400
6
16
ys.
49,648,468
996.05
3,442,671
4,449,457
192,238
8,084,366
4,571,593
3,512,773
2,606,731
Aver.
3,103,029
62,25
215,167
278,091
12,015
505,273
285,724
219,549
162,920
5.8
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124
MASSACHUSETTS-FITCHBURG AND WORCESTER.
FITCHBURG AND WORCESTER RAILROAD.
(Financial year ending 30th November, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
Nathaniel Wood
Fitchburg, Mass.
Samuel Houghton
Sterling, Mass.
James H. Carter
Leominster, "
William D. Peck
"
"
Joseph Haskell
"
"
William D. Cheever
Worcester,
"
IVERS PHILLIPS, President and Superintendent
Fitchburg, Mass.
CHARLES W. WILDER, Treasurer and Secretary
"
"
PRINCIPAL OFFICE
FITCHBURG, Worcester Co., Mass.
LENGTH OF Road-Fitchburg to Sterling Junction
13.99 miles.
Sidings and other track, excepting main track, 2.37 miles.
ROLLING STocK-Locomotive engines
3
Cars (8 wheel) :-Passenger, 3; baggage, 1; merchandise (4-wheel), 40.. 44
The Fitchburg and Worcester Railroad Company was chartered in 1846, and
organized in January, 1847. The construction of the road was commenced
in the summer of 1848, and completed on the 11th Feb., 1850.
SHARE CAPITAL-Authorized, $275,000, in $100 shares.
Paid in, - - $198,800, as follows—
Ordinary shares
$12,000 I 1st class pref. 6p.
$150,500
I
2d class pref. 6p.
$36,300
The 1st Class Preferred was created in 1851-2, and the 2d in 1852-3.
They both call for dividends at the rate of 6 per cent. per annum, the former
having precedence in case the net earnings should not be sufficient to pay
dividends on both. Dividends have been regularly paid on the Preferred
with the exception of 1857, when 3 per cent. only was paid. No dividends
have been paid on the old stock.
FUNDED DEBT-$63,200 described as follows—
1st Mortgage, 6 per cent., coupon bonds
$63,200
-all dated in 1849, and payable as follows :-$2,900 in 1860; $700 in 1861 ;
$15,800 in 1862 ; $8,600 in 1863, and $24,900 in 1864. The balance ($10,300)
is not sold, but held as collateral for debt of the Company. The interest is
payable on the 1st May and 1st Nov., at the office of the Company.
FLOATING DEBT-None
COST OF ROAD AND EQUIPMENT-$333,884 in detail as follows—
Graduation and masonry
$105,801
Locomotive engines
$18,867
Wooden bridges
1,677
Passenger and baggage cars
6,594
Superstructure, including iron
100,267
Merchandise cars
14,765
Stations, buildings and fixtures
21,991
Engineering
7,746
Land, land-damages and fences
32,092
Agencies and other expenses
24,079
INCOME ACCOUNT FOR THE YEAR ENDING 30TH Nov., 1859.
Receipts-
Disbursements-
Passenger earnings
$14,934
Maintenance of way
$11,882
Freight
"
21.473
Repairs of rolling stock
6,549
U.S. mail
"
1,050
Operating expenses
13,708
Rents and other sources
11,311
Interest
3,833
Surplus from last year
7,812
Dividend on 1st and 2d class preferred
10,578
Surplus income 30th November, 1859
10,029
Total
$56,550
Total
$56,580
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MASSACHUSETTS-GRAND JUNCTION.
125
Cost, EARNINGS, EXPENSES, ETC., YEARLY.
Cost of
Mile-
Gross Earnings-
Operating Earnings,
Div.
Year.
Road, etc.
age.
Pass'r.
Freight.
Mails.
Total.
Expenses.
less exp.
Am't.
p.c.
1850
$259,073
13.99
$13,113
$8,196
$122
$21,431
$13,354
$8,077
nil.
nil.
1851
305,410
13.99
16,086
11,863
1,405
29,354
14,308
15,046
"
"
1852
312,228
13.99
16,212
12,900
2,290
31,402
18,463
12,939
6,126
6
1853
319,159
13.99
16,804
16,268
3,134
36,206
17,905
18,301
7,428
6
1854
333,884
13.99
19,591
18,859
4,197
42,647
19,250
23,397
9,492
6
1855
333,884
13.99
15,698
14,871
7,019
37,588
25,428
12,160
10,200
6
1856
333,884
13.99
18,835
18,556
3,639
41,030
26,708
14,322
10,356
6
1857
333,884
13.99
16,746
17,680
3,423
37,849
23,501
14,348
5,268
3
1858
333,884
13.99
14,113
17,187
4,176
35,476
18,994
16,482
10,542
6
1859
333,884
13.99
14,934
21,473
12,361
48,768
32,140
16,628
10,578
6
10
yrs.
3,199.174
139.90
162,132
157,853
41,766
361,751
210,051
151,700
69,990
Aver..
319,917
13.99
16,213
15,785
4,176
36,175
21,005
15,170
6,999
4.5
NOTE.-The dividends paid have been upon the 1st and 2d classes of preferred stock.
GRAND JUNCTION RAILROAD AND DEPOT.
The Grand Junction Railroad and Depot Company was chartered on the 24th
April, 1847. The design of the company was to connect the railroads enter-
ing the city from the north and west with its depots and wharves at East
Boston, and for this purpose constructed a railroad, about 9 miles in length,
at a cost to the end of 1856 of $564,297. The cost of real estate, wharves,
piers, depots, etc., at that date was $1,293,401, and the value of its other
assets and property was $71,235. The road from the depots at East Boston
to the Boston and Maine Railroad in Somerville, 6.18 miles, was opened in
1849, and the extension to the Boston and Worcester Railroad, 2.82 miles, in
1856. The capital account yearly for ten years ending 30th November,
1856, was as follows:
Share
Funded
Floating
Total
Road Mile-
Share
Funded
Floating
Total
Road Mile-
Capital.
Debt.
Debt.
Capital.
& Depota. age.
Capital.
Debt.
Debt.
Capital.
&
Depots.
age.
411,175
42,806
453,981
450,947
793,151
451,000
65,703
1,309,854
1,282,073
6.49
538,292
54,958
593,250
556,116
793,194
501,739
86,605
1,381,538
1,385,712
6.49
631,095
65.454
696,549
655,134
618
774,192
827,000 83,755 1,684,917 1,583,482 6.49
721,145 223,000
36,997
981,142
763,844
6.18
774,192 873,000 221,445 1,868,637 1,777,573 9.00
781,607
350,000
48,778
1,180,385
919,396
6.49
779,792 873,000 294,150 1,946,942 1,928,933 9.00
The income of the company has been very trifling when compared with
the capital, and in no year sufficient to pay the interest on its debt. No
reports, however, have been made of its condition since 1856. The company
is now winding up its affairs, having abandoned a part of the road. The
following is a list of the bonds outstanding at the present date.
1st Mortgage, 6 per cent., coupon bonds
$350,000
-dated 1st July, 1850, and payable, principal in 20 years, and coupons semi-
annually, 1st Jan. and 1st July, in Boston. Secured on 1,434,420 square
feet of land and the wharves in East Boston.
1st Mortgage, 6 per cent., coupon bonds
$124,000
-dated 1st March, 1852, and payable, principal in 10 years, and coupons
semi-annually, 1st March and 1st September, in Boston. Secured on three
miles of double track railroad, and guaranteed by Eastern Railroad Co.
1st Mortgage, 6 per cent., tonds
$100,000
-dated 1st May, 1853, and payable, principal in 15 years, and coupons
semi-annually, 1st May and 1st November, in Boston. Secured on six miles
of railroad in Cambridge, mortgaged to Boston and Worcester RR. Co.
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MASSACHUSETTS-HAMPSHIRE AND HAMPDEN.
HAMPSHIRE AND HAMPDEN RAILROAD.
(Financial year ending 30th November, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
Ira Yeamans, Jr
Northampton, Mass.
Joseph E. Sheffield
New Haven, Ct.
S. D. Pardee
"
"
Charles Smith
"
"
WILLIAM JOHNSON, President
New Haven, Ct.
IRA YEAMANS, Jr., Treasurer
Northampton, Mass.
P. DENNIS, Superintendent
New Haven, Ct.
PRINCIPAL OFFICE
NEW HAVEN, New Haven Co., Ct
LENGTH OF Rosp-Northampton, Mass., to the Connecticut Line
24.96 miles
Sidings, turnouts and other track, about 2.41 miles.
ROLLING STOCK-None. Supplied by New York and New Haven Company.
The Hampshire and Hampden Railroad Company was chartered in the year
1850, and authorized to construct a railroad from Northampton, Mass., to
the State line of Connecticut, thence to connect with the New Haven and
Northampton Railroad. The road was completed and opened for public
use on the 1st July, 1856; and has since that time been operated, under
lease to the New Haven and Northampton Company, by the New York and
New Haven Company (which see.) A new copy of agreement was signed
in 1859, whereby the lease to the New Haven and Northampton Company
was made perpetual, in consideration of the lessee assuming the 1st Mort-
gage bonds of the Company.
SHARE CAPITAL-Authorized, $375,000, in 3,750 $100 shares.
Paid in, - $292,931, on 2,872
"
and scrip.
FUNDED DEBT-$303,014: classified as follows—
1st Mortgage, 6 per cent. bonds
$200,000
-dated 1st October, 1854, and payable, principal in 20 years, and coupons
semi-annually, 1st October and 1st April, at New Haven. These bonds,
under the provisions of a lease of the road to the New Haven and North-
ampton Company, granted in 1859, and which took effect on the 1st October
of that year, are to be paid principal and interest by the lessee.
2d Mortgage, 6 per cent., bonds
$103,010
-dated 1st December, 1859, and payable, principal in 10 years, and interest
semi-annually, 1st July and 1st December, at New Haven.
FLOATING DEBT-$57,065.
COST OF ROAD AND EQUIPMENT, ETC.-$577,583 : in detail as follows—
Graduation and masonry
$191,638
Land, land-damages and fences
$51,104
Bridges
26,065
Stations, buildings and fixtures
33,116
Superstructure, including iron
198,548
Agencies, engineering, etc
77,112
No Income Account has been published.
GENERAL STATEMENT 1ST OCTOBER, 1859.
Dr.
Cr.
Cost of Road
$577,583
Share Capital
$292,931
Profit and loss
75,427
Funded Debt
303,014
Floating debt
57,065
Total
$653,010
Total
$653,010
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MASSACHUSETTS-LEXINGTON AND WEST CAMBRIDGE.
127
HARTFORD AND NEW HAVEN RAILROAD.
(Now a part of the Hartford and New Haven Railroad of Connecticut.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
Julius Catlin
Hartford, Ct.
I
Samuel H. Parsons
Springfield, Mass.
Charles F. Pond
"
"
C. W. Chapin
"
"
JAMES S. BROOKS, President
Meriden, Ct.
PRINCIPAL OFFICE
HARTFORD, Hartford Co., Ct.
LENGTH OF RosD-Springfield, Mass., to State Line of Connecticut
5.87 miles.
Second track, 5.87 miles sidings, etc., 2.15 miles.
The Hartford and New Haven Railroad Company was chartered under the title
of the Hartford and Springfield Company, on the 5th April, 1839, and
was organized on the 6th October, 1841. In 1847 it was consolidated with
the Hartford and New Haven of Connecticut, under the authority contained
in their respective charters. Previous thereto, in 1843, a contract was entered
into with the Connecticut Company, whereby the latter agreed to construct
a railroad from the boundary line of Connecticut to Springfield, which was
completed in December, 1844. The organization in Massachusetts is only a
matter of form, for the preservation of its chartered privileges. The road
forms a portion of the line of the Hartford and New Haven Company, by
which it is owned and maintained. Its original capital was $300,000.-(See
Hartford and New Haven Railroad, of Connecticut.)
HARVARD BRANCH RAILROAD.
This was a small branch road from the Fitchburg Railroad to Harvard
College, and was operated in connection with the latter. It has been aban-
doned. Original cost about $28,000.
HORN POND BRANCH RAILROAD.
(Financial year ending 30th November, 1859.)
LENGTH OF ROAD
0.66 mile.
The Horn Pond Railroad Company was chartered in 1851, and the road
completed in 1853. It is operated as a branch of the Boston and Lowell
Railroad, and pays 4 per cent. per annum on its cost, $15,238. Share
Capital, $10,000, of which $2,000 is paid in; Debt (floating), $13,238.
LEXINGTON AND WEST CAMBRIDGE RAILROAD.
(Financial year ending 30th November, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
James Dana,
Addison Gage,
John Field,
Samuel Butterfield,
Joseph N. Howe,
Abijah W. Farren.
CHARLES HUDSON, President
.
West Cambridge, Mass.
PRINCIPAL OFFICE
WEST CAMBRIDGE, Middlesex Co., Mass.
LENGTH OF Road-West Cambridge to Lexington
6.63 miles.
Sidings and other track, 0.61 mile.
ROLLING STOCK-Locomotive engines
2
Cars : :-Passenger, 4; baggage, 2; merchandise, 8
14
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MASSACHUSETTS-LEXINGTON AND WEST CAMBRIDGE.
The Lexington and West Cambridge Railroad Company was chartered by the
Massachusetts Legislature on the 14th February, and organized on the 7th
July, 1845. The work of construction was commenced on the 20th August
of the same year, and the road completed and opened for public use on the
1st September, 1846. From its opening the road was operated by the
Fitchburg Company. The original agreement was for one year, the rent
being 4 per cent. on the cost, the lessee to keep the road in repair. In the
ensuing year a new contract was made between the company, to take effect
on the 1st September, 1847, and to terminate on the 31st August, 1859. On
the expiration of this term the company purchased rolling stock, and has
since then operated its own road, using the Fitchburg track into Boston. In
1853, the funded debt, then amounting to $120,000, was converted into pre-
ferred share capital, to be paid 6 per cent. per annum before the declaration
of any dividend on the original stock.
SHARE CAPITAL-Original, $121,200, in 1,212 $100 shares,
Preferred, 120,000, in 1,200 $100
"
-
all paid.
FUNDED DEBT-$1,500, at 6 per cent. per annum.
Cost OF ROAD AND EQUIPMENT-$251,258 : in detail as follows—
Graduation and masonry
$43,862
Locomotive engines
$10,500
Wooden bridges
14,414
Passenger and baggage cars
6,800
Superstructure, including iron
72,884
Merchandise cars
3,200
Stations, buildings and fixtures
15,715
Engineering
6,175
Land, land damages and fences
54,271
Agencies and other expenses
23,435
INCOME ACCOUNT FOR THE YEAR ENDING 30TH NOVEMBER, 1859.
Receipts-
Disbursements-
Passenger earnings
$14,906
Maintenance of way
$4,095
Freight
"
6,623
Repairs of rolling stock
1,144
U. S. mails
343
Operating expenses
11,363
Avails of suits for past earnings
8,125
Dividends
11,464
Surplus undivided
1,931
Total
$29,997
Total
$29,997
CosT, EARNINGS, EXPENSES, ETC., YEARLY.
Cost
Mile-
Gross Earnings
Operating Earnings.
-Div
Year. of Road.
age. Pass'gers. Freight. Mails, etc. Total.
Expenses.
less exp.
St P
1846
177,349
6.63
2,400
584
1,816
nil
nil.
1847
221,309
6.63
8,333
1,818
6,516
"
"
1848 252,680
6.63
6,533
2,171
4,362
"
=
1849
241,035
6.63
6,434
293
6,141
"
"
1850 242,160
6.63
Operated by the Fitchburg
7,480
400
7,080
"
"
1851
240,367
6.63
8,130
400
7,730
"
"
1852
237,327
663
Railroad Company.
11,519
2,450
9,069
"
"
1853
232,385
6.63
14,296
2,585
11,711
6,570
2
1854
230,034
6.63
17,646
4,099
13,547
9,905
21
1855
230,034
6.63
19,892
6,277
13,415
13,280
5
1856
230,034
6.63
21,549
4,827
16,722
10,240
21
1857+
250,357
6.63
13,718
6.747
33
20,498
13,709
6,789
3,474
nil
1858
251,258
6.63
15,927
4,899
357
21,183
13,286
7,897
3,600
"
1859
251,258
6.63
14,906
6,623
8,468 ||
29,997
16,602
13,395
11,463
3
14 yrs 3,287,587
92.82
195,890
69,500
126,390
58,532
Aver
234,817
6.63
13,992
4,964
9,028
4,181
1
# Eleven months' operations. t Equipment purchased cost $19,600. Operated 9 months by
Fitchburg and 3 months by Company. 1 Including dividends on preferred ($120,000) in 1853-56
6 per cent., and of 1857-58 3 per cent.
$
Rate of dividend on original stock. II Including $8,125,
being avail of suits for past earnings.
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MASSACHUSETTS-LOWELL AND LAWRENCE.
129
LOWELL AND LAWRENCE RAILROAD.
(Financial year ending 30th November, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
Isaac Farrington
Lowell, Mass.
Otis Allen
Lowell, Mass.
Horace Honard
"
"
Paul R. George
Contoocock, N.H.
A. W. Buttrick
"
"
Joshua W. Daniels
Laurence, Mass.
SIDNEY SPALDING, President
Lowell, Mass.
F. H. NOURSE, Treasurer
"
"
J. B. WINSLOW, Superintendent
Boston, "
PRINCIPAL OFFICE
LOWELL, Middlesex Co., Mass.
LENGTH OF RoAD-Lowell to Lawrence
12.35 miles.
Second track, sidings, turnouts, etc., 2.29 miles.
ROLLING Srock-Locomotive engines
2
Cars :-Passenger, 3; baggage, 1; merchandise, 20 ; gravel, 6
30
The Lowell and Lawrence Railroad Company was chartered under the title of
Lowell and Andover Railroad Company on the 27th March, 1846, and was
organized on the 16th October of the same year. The work of construction
was immediately commenced. In 1848 the title of the Company was
changed to its present designation, and on the 1st July, 1848, the whole line
was opened for public use. On the 1st October, 1858, it was leased for 20
years to the Boston and Lowell Railroad Company at 6 per cent. on its cost.
The Salem and Lowell Railroad, which had been operated by this Company
since its completion in 1850, was also transferred to the same.
SHARE CAPITAL-Authorized, $300,000, in 3,000 $100 shares.
Paid in, - - $200,000, in 2,000
"
FUNDED DEBT-$100,000; described as follows—
1st Mortgage, 6 per cent., coupon bonds
$100,000
-dated 1st Oct., 1850, and payable, principal in 10 years, and coupons semi-
annually, 1st April and 1st October, at Boston or Lowell. The maturity of
$75,000 of this amount is extended to 1st October, 1878.
COST OF ROAD AND EQUIPMENT-$363,158 : in detail as follows—
Graduation and masonry
$77,516
Passenger and baggage cars
$7,000
Wooden bridges
5,305
Merchandise cars
8,121
Superstructure, including iron
161,416
Engineering
8,198
Stations, buildings and fixtures
15,108
Agencies and other expenses
213
Land, land-damages and fences
45,379
Balance of interest, etc
9,748
Locomotive engines
15,153
Discount on bonds
10,000
INCOME ACCOUNT FOR THE YEAR ENDING 30TH NOVEMBER, 1859.
Receipts-
Disbursements-
Rent, 6 per cent. on $363,000
$21,780
General expenses
$2,358
Sundries
25
Interest for 14 months
6,896
Dividend
12,000
Undivided surplus
551
Total
$21,805
Total
$21,805
GENERAL STATEMENT, 1ST DECEMBER, 1859.
Dr.
Cr.
Cost of road
$32,883
Share capital
$200,000
"
rolling stock
30,275
Funded debt
100,000
Cash
5,709
Surplus earnings
5,709
Profit and loss
63,158
Total
$368,867
Total
$368,867
17
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130
MASSACHUSETTS-MARLBOROUGH BRANCH.
CosT, EARNINGS, EXPENSES, ETC., YEARLY.
Cost
of
Miles.
Gross Earnings
Operating Earnings,-Div-
Year. Road, &c. of Road.
Pass'r.
Freight.
Mails,
etc.
Total.
expenses.
less exp.
$
p. c.
1848
$283,248
1235
$17,233
$3,511
$20,744
$13,712
$7,032
nil
nil.
1849
321,998
12.35
32,902
9,156
475
42,533
17,168
25,365
10,000
5
1850
333,254
1235
29,593
7,136
2,029
38,758
21,148
17,610
8,000
4
1851
343,467
12.35
26,645
6,310
3,356
36,311
18,279
18,032
8,000
4
1852
346,062
12.35
28,446
8,494
4,838
41,778
18,320
23,458
8,000
4
1853
363,658
12.35
35,402
10,712
5,243
51,357
19,940
31,417
12,000
6
1854
363,658
12.35
38,712
11,941
5,482
56,135
24,225
31,910
12,000
6
1855
363,658
12.35
33,036
11,509
5,689
50,234
28,273
21,961
8,000
4
1856
363,658
12.35
30,887
11,732
5,647
48,266
24,674
23,592
8,000
4
1857
363,158
12.35
28,151
11,328
5,711
45,190
25,784
19,406
nil.
nil.
1858
363,158
12.35
16,109
7,229
19,445*
42,784
17,860
24,924
6,000
3
1859
363,158
12.35
21,805
2,358
19,447
12,000
6
12 yrs. 4,172,135
148.20
495,895
231,741
264,154
82,000
Aver. 347,678
12.35
41,321
19,312
22,012
7,616
3f
MALDEN AND MELROSE RAILROAD.
(See Boston City Passenger Railroads.)
MARLBOROUGH BRANCH RAILROAD.
(Financial year ending 30th November, 1859.)
MARK FAY, President
MARLBOROUGH, Middlesex Co., Mass.
LENGTH OF Road-Marlborough to Feltonville
3.9 miles.
The Marlborough Branch Railroad Company was chartered in 1852, and the
road was completed and opened for public use on the 1st March, 1855.
Previous to this date, namely on the 1st November, 1853, the Fitchburg
Railroad Company leased the road for 30 years from the time of its com-
pletion, and agreed to pay to the Marlborough Company as rent thereof
one-half of the gross receipts. The lease also provides that the Fitchburg
Company may purchase the road at any time during the said 30 years at cost.
SHARE CAPITAL-Authorized, $80,000, in 800 $100 shares: paid in, $60,000.
FUNDED DEBT-$82,988; described as follows—
1st Mortgage, 6 per cent., coupon bonds
$82,988
-dated in 1854, and payable, principal in 10 years, and interest semi-annually,
1st January and 1st July, at Boston.
Cost OF ROAD AND APPURTENANCES-$156,185 : in detail as follows-
Graduation and masonry
$71,122
Land, land-damages and fences
$9,901
Bridges
11,261
Engineering.
6,130
Superstructure, including iron
30,352
Agencies, and other expenses
21,281
Stations, buildings and fixtures
6,138
Rolling stock-None.
INCOME ACCOUNT FOR THE YEAR ENDING 30TH NOVEMBER, 1858.
Receipts-
Disbursements-
Surplus income, 1st December, 1858
$3,058
Taxes and insurance
$37
Rent of road, per contract
3,309
Salaries and office expenses, etc
1,014
Surplus not divided
5,316
Total
$6,367
Total
$6,367
# Including $10,490 received for wood and materials sold to Boston and Lowell Company, and
$3,630 from the same corporation for October and November, as per contract, being 6 per cent.
per annum on cost of road.
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MASSACHUSETTS-MEDWAY BRANCH.
131
COST, EARNINGS FROM RENT, EXPENSES, ETC., YEARLY,
Cost of
Mileage
Total
Current
Income,
-Dividend-
Year.
Road, etc.
of Road.
Income.
Expenses.
less expenses.
$
p.c.
1855
$130,034
3.9
$3,876
$1,400
$2,476
nil.
nil.
1856
142,585
3.9
4,605
800
3,805
"
"
1857
156,184
3.9
4,093
37
4,056
"
"
1858
156,184
3.9
2,363
37
2,326
"
"
1859
156,184
3.9
3,309
1,052
2,257
"
"
5 years
741,171
19.5
18,246
3,326
14,920
"
"
Average
148,234
3.9
3,649
665
2,984
"
"
MEDWAY BRANCH RAILROAD.
(Financial year ending 30th November, 1859.)
HOLMES AMMIDOWN, President
BOSTON, Suffolk Co., Mass.
LENGTH OF Road-North Wrentham to Medway
3.6 miles.
Sidings, turnouts and other track, 0.61 mile.
The Medway Branch Railroad Company was chartered on the 1st May, 1849.
Construction was commenced in the summer of 1851, and the road completed
on the 1st December, 1852. A permanent lease of the road was executed in
1851 to the Norfolk County Railroad Company from the date of its com-
pletion, the lessee to pay for the use thereof all the net earnings. The lease
has been assumed by the successors to the Norfolk County Company under the
names of Boston and New York Central, and Midland Companies, which see.
SHARE CAPITAL-Authorized, $35,000, in $100 shares. Paid in, $29,000.
FLOATING DEBT-$3,785.
COST OF ROAD AND APPuRTENANCEs-$37,909.
INCOME ACCOUNT FOR THE YEAR ENDING 30TH NOVEMBER, 1859.
Receipts-
Disbursements-
Passenger earnings
$525
Maintenance of road
$415
Freight
"
1,136
Motive power and cars
616
Salaries, etc
377
Net earnings
253
Total
$1,661
Total
$1,661
Cost, EARNINGS, EXPENSES, ETC., YEARLY.
Cost of Road, Mile-
Gross Earnings
Operating Earnings,
-Div.-
Year.
& equip't.
age. Pass'gers. Freight. Mails, etc. Total.
Expenses.
less exp.
$
p.c.
1853
$36,073
360
$1,643
$1,297
$2,940
$2,940
nil.
nil.
1854
37,909
3.60
1,968
1,711
3,679
3,679
"
"
1855
37,909
3.60
1,143
1,187
2,330
2,330
a
"
1856
37,909
3.60
2,665
4,527
7,192
3,110
4,082
"
"
1857
37,900
3.60
3,669
2,567
1,102
=
"
1858
37,909
3.60
"
"
1859
37,909
3.60
525
1,136
1,661
1,408
253
"
"
7 years. 263,527
25.20
Average 37,646
3.60
METROPOLITAN RAILROAD.
(See Boston City Passenger Railroads.)
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132
MASSACHUSETTS-MIDDLEBOROUGHI AND TAUNTON.
MIDDLEBOROUGH AND TAUNTON RAILROAD.
&
(Financial year ending 30th November, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
P. Tillinghast,
Elisha Tucker,
Charles Robinson,
William A Crocker,
J.S. Tillinghast,
Deming Jarvis.
J. B. TOBEY, President
Taunton, Mass.
A. E. SWASEY, Superintendent
"
"
PRINCIPAL OFFICE
TAUNTON, Bristol Co., Mass.
LENGTH OF Road-Taunton to Middleborough
8.03 miles.
Sidings and other track, except main track, 0.56 mile.
ROLLING STOCK-Locomotive engines
1
Cars :-Passenger, 1; baggage, 1; merchandise, 20.
22
The Middleborough and Taunton Branch Railroad Company was organized on
the 20th December, 1853, under a charter granted in the same year. The
work of construction was commenced in the spring of 1855, and the road
was opened for public use in the summer of 1856.
SHARE CAPITAL-Authorized, $150,000, in 1,500 $100 shs. Paid in, $148,067.
COST OF ROAD AND EQUIPMENT-$153,943 : in detail as follows—
Graduation and masonry
$45,899
Locomotive engines
$9,281
Wooden bridges
384
Passonger and baggage cars
2,577
Superstructure, including iron
56,024
Merchandise cars
9,135
Stations, buildings and fixtures
3,991
Engineering
3,947
Land, land damages and fences
18,005
Agencies and other expenses
4,699
INCOME ACCOUNT FOR THE YEAR ENDING 30TH NOVEMBER, 1859.
Receipts-
Disbursements-
Passenger earnings
$10,077
Maintenance of road
$2,679
Freight
"
15,901
Motive power and cars
1,318
U.S. mail
658
Tolls to other roads
12,898
Surplus, 1st December, 1858
102
Operating expenses
7,472
Deficit,
"
"
492
Salaries and office expenses
2,179
Interest
684
Total
$27,230
Total
$27,230
GENERAL STATEMENT, 1ST DECEMBER, 1859.
Dr.
Cr.
Cost of Road
$132,950
Share Capital
$148,067
"
rolling stock
20,993
Floating debt
10,300
Various assets
3,931
Profit and loss
480
Total
$158,367
Total
$158,367
COST, EARNINGS, EXPENSES, ETc., YEARLY.
Cost
Mile-
Gross Earnings
Operating
Earnings,
Div
Year.
of Road.
age.
Pass'gers.
Freight.
Mails,
etc.
Total.
Expenses.
less exp.
8
P c
1856
134,081
8.03
$5,728
$7,096
$12,824
$11,218
$1,606
nil.
nil.
1857
149,495
8.03
11,332
15,615
372
27,319
26,439
880
"
.6
1858
153,826
8.03
8,029
12,345
693
21,067
19,190
1,877
"
.4
1859
153,943
8.03
10,077
15,901
658
26,636
26,547
89
"
:
4 years.
591,345
32.12
35,166
50,957
1,723
87,846
83,394
4,452
"
"
Aver
147,836
8.03
8,791
12,739
431
21,961
20,848
1,113
"
"
MIDDLESEX RAILROAD.
(See Boston City Passenger Railroads.)
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MASSACHUSETTS-MIDLAND.
133
MIDLAND RAILROAD.
(Financial year ending 30th November, 1859.)
HOLMES AMMIDOWN, President.
Boston, Mass.
E. HAYNES, Jr., Treasurer
"
"
PRINCIPAL OFFICE
BOSTON, Suffolk Co., Mass.
The Midland Railroad Company was incorporated on the 17th March, 1858,
as successor to the Boston and New York Central, which was a consolida-
tion of the Midland, the Norfolk County, and the Southbridge and Black-
stone Companies.
The Norfolk County Railroad Company was chartered on the 24th April,
1847, and, pursuant to a provision of its charter, united with the Walpole
Railroad Company, which had been incorporated the preceding year. The
section extending from Walpole to Dedham had already been placed under
contract, and soon after the union of the two corporations, which was con-
summated on the 19th July, 1847, the section from Walpole to Blackstone,
was commenced. The whole road, 25.96 miles long, was completed and
opened for business on the 23d April, 1849, at a cost of $950,605.
The Southbridge and Blackstone Railroad was chartered in 1849, and the
Midland in 1850. On the 13th December, 1853, these roads, with the Nor-
folk County, were consolidated into the Boston and New York Central. In
1854 the line extending from Blackstone to the line of the Norwich and
Worcester Railroad, at Mechanicsville, 23 miles, was opened, the same
having been previously commenced by the Southbridge and Blackstone Com-
pany. On the 1st January, 1855, that portion of the line from Boston to
Dedham, 11 miles, and covered by the charter of the Midland Railroad, was
opened. Injunction was soon after obtained against running the trains over
this section on the ground of the alleged insecurity of the bridges on its line,
in consequence of which it was disused till December, 1856.
To connect the Norfolk County and the Southbridge and Blackstone Rail-
road, the East Thompson Railroad, a short link through the northeast corner
of the State of Connecticut, was undertaken. Owing to the embarrass-
ments of the Massachusetts Company, the whole line was leased to the East
Thompson Company and operated by it for one year from the 2d March,
1857, when the Norfolk County Railroad was taken possession by the Trus-
tees under the mortgage, by whom that road has since been operated.
For the purpose of extricating the concern from its embarrassments, the
present Company was chartered, and authorized to take the whole property
of the Boston and New York Central, and to pay for the same in stock as
as follows:
1st. To the bondholders of the Norfolk County Railroad Company, and
for land-damages outstanding, a first class 7 per cent. Preferred Stock was
authorized to be issued.
2d. To the holders of the bonds of the Boston and New York Central
Company, and for all debts secured by collaterals or liens upon the Com-
pany's property and labor claims, a second class 6 per cent. Preferred Stock
was authorized.
3d. To the unsecured creditors. common stock to the full amount of their
claims was to be issued; and to the holders of stock in the old company,
one share of new stock to every four held by them. Parties not availing
themselves of the provisions in their favor within twelve months to be de-
barred.
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134
MASSACHUSETTS-MIDLAND.
The cost of the B. & N. Y. Central, 611 miles completed, and 15 miles par-
tially completed, has been $4,537,835, of which $2,354,700 was represented
by stock.
There has been issued by the new Company, in accordance with the plan
of organization, $4,200 of the 1st class preferred; $764,500 second class
preferred, and $643,800 of common stock, making a total of $1,412 500.
The claims still outstanding against the old Companies are as follows :-
Bonds of the Norfolk County Railroad
$414,350
Bonds of the Boston and New York Central Railroad
321,000
Labor claims and judgments.
17,243
Land claims
150,000
Old stock outstanding, etc.
186,575
Total
$1,089,168
The Funded Debts of the old Companies are as follows:
1st Mortgage, 6 per cent., (Norfolk County) bonds
$414,350
-dated 1st September, 1849, and payable in five years; interest payable
semi-annually, in Boston. The coupon last due on these bonds is unpaid.
1st Mortgage, 6 per cent., (Boston and New York Central) bonds
$785,000
-dated 1st January, 1854, and payable in 20 years; interest payable semi-
annually, at the office of the Company. The interest on these has remained
unpaid for several years past.
According to the latest report of the Boston and New York Company
(30th November, 1857), the financial condition of the road was as follows:
Share capital
$2,241,000
Cost of road and equipment
$3,692,144
Funded debt
374,550
Assets and other property
231,175
Floating debt
1,299,039
Profit and loss
108,730
Total
$3,923,319
Total
$3,923,319
The details of the cost of the road and equipment at that date are shown
below :
Graduation and masonry
$1,775,014
Locomotives
$26,950
Bridges
191,687
Passenger cars
13,850
Superstructure and iron
511,422
Morchandize cars
29,141
Stations, buildings and fixtures
40,263
Engineering
69,384
Land, land damages and fences
474,097
Agencies and other expenses
560,335
Cost, EARNINGS, EXPENSES, ETc., YEARLY.
Cost of
Mile-
Gross Earnings
Operating
Net
Year.
Road,
age.
Pass'rs.
Freight.
Mails.
Total.
Expenses.
Earn's.
Div
1849
$950,605
25.96
$18,272
$7,978
$
$26,250
$14,501
$11,749
nil.
nil
1850
1,060,990
25.96
37,339
19,135
1,367
57,841
38,193
19,647
"
"
1851
1,213,451
25.96
35,792
22,836
1,458
60,086
37,859
22,227
"
"
1552
1,245,927
25.96
38,555
27,729
967
67,251
43,835
23,416
4.
"
1853
2,221,068
25.96
51,638
36,890
1,787
90,315
55,101
35,214
"
"
1854
3,310,948
4892
62,101
38,263
1,988
102,352
60,017
42,335
"
"
1855
3,463,818
61.51
33,705
24,177
2,035
59,917
51,177
8,740
"
"
1856
3,659,250
61.51
Not in operation.
1857
3,692,144
61.51 Operated by East Thompson Company, of Connecticut.
1858
3,692,144
61.51
18,387
13,294
9,150
40,656
40,452
204
"
"
1859
3,692,144
61.51
32,112
24,490
3,656
60,268
37,578
22,690
=
"
NOTE.-The above table refers to the operations of the line under different companies. For the
two years past, it relates to the operations of the Norfolk County Railroad only. The earnings for
1658, are for seven months.
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MASSACHUSETTS-NASHUA AND LOWELL.
135
NASHUA AND LOWELL RAILROAD.
(Financial year ending 30th November, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
Daniel S. Richardson
Lowell, Mass.
Edward Spaulding
Nashua, N.H.
William Amory
Boston, "
Onslow Stearns
Concord, "
F.B. CROWNINSHIELD, President
Boston, Mass.
WILLIAM P. AINSWORTH, Treasurer
Nashua, N.H.
GEORGE STARK, Manager
"
"
PRINCIPAL OFFICE
NASHUA, Hillsborough Co., N.H.
LENGTH OF RoAD-Lowell, Mass., to Nashua, N.H
14.58 miles.
Second track, including sidings, etc., 3.06 miles.
ROLLING STocK-Locomotive engines
12
Cars:-Passenger, 12; baggage, 8; merchandise, 296, and gravel, 20
336
The Nashua and Lowell Railroad Company is a consolidation of the Nashua
and Lowell Company of New Hampshire, and the Lowell and Nashua Com-
pany of Massachusetts.
The New Hampshire Company was chartered on the 26th June, 1835, and
was the first company chartered in that State.
The Massachusetts Company was chartered on the 16th April, 1836.
In 1838 the two companies were consolidated under the title of the Nashua
and Lowell Company. The construction of the road was commenced in
1837, and completed on the 23d December, 1838. A second track was laid
in 1845-6, and important improvements were made on the line of the road
in the city of Lowell, and additions to the rolling stock of the Company in
1848-50. These expenditures raised the cost of the road, etc., from $380,000
in 1844 to $650,000 in 1850.
The Nashua and Lowell Railroad Company runs, under lease, the Stony
Brook Railroad, paying as rent 6 per cent. on the cost of that road. This
lease was dated in 1848, and has been extended to 1873. It also runs the
Wilton Railroad of New Hampshire, paying as rent 6 per cent. on its cost
provided 9 per cent. be earned on the cost of its own road. On the 29th
January, 1857, it entered into a contract with the Boston and Lowell Rail-
road Company, whereby the two roads are to be worked as one line for 20
years, from the 1st April, 1860, and the net earnings to be divided in propor-
tion of 31 per cent. to the Nashua and Lowell, and 69 per cent. to the Bos-
ton and Lowell; the joint Companies to assume the contracts made with
other railroad companies by either party to the contract.-(See Boston and
Lowell, Stony Brook, and Wilton Railroad.)
SHARE CAPITAL-Paid in, $600,000, in 6,000 $100 shares.
FUNDED OR FLOATING DEBT-None.
CosT OF Rosp AND EQUIPMENT, ETC.-$600,000: in detail as follows—
Graduation and masonry
$116,828
Land, land-damages and fences
$98,990
Wooden bridges
2,530
Locomotives
46,240
Iron
"
1,875
Passenger and baggage cars
13,793
Superstructure, including iron
233,998
Merchandise and other cars
35,651
Stations, buildings and fixtures
93,197
Engineering, agencies, etc
21,511
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136
MASSACHUSETTS-NEWBURYPORT.
INCOME ACCOUNT FOR THE YEAR ENDING 30TH NOVEMBER, 1859.
Receipts-
Disbursements-
Passenger earnings
$87,799
Maintenance of way
$39,614
Freight
"
135,120
Repairs of engines and cars
22,319
U.S. mail
"
2,779
Operating expenses
70,564
Express
"
3,507
Rents to leased roads
28,197
Surplus from 1858
62,993
Dividend 3 per cent
48,000
Surplus undivided
83,504
Total
$292,198
Total
$292,198
GENERAL STATEMENT, 1ST DECEMBER, 1859.
Dr.
Cr.
Cost of road
$558,919
Share capital
$600,000
" equipment
95,684
Undivided surplus
83,504
Real estate
11,937
Profit and loss
16,059
Materials on hand
33,023
Total
$699,563
Total
$699,563
COST, EARNINGS, EXPENSES, ETC., YEARLY.
Cost.
Mile-
Gross Earnings
Operating
Net
2-Div.-
Year. of Road.
age.
Pass'gers.
Freight. Mails, etc.
Total.
Expenses.
Earnings.
3
p.c.
1838
$350,000
14.28
$4,000
$2,000
$114
$6,114
$4,185
$1,929
nil,
nil.
1839
353,662
14.28
36,647
18,199
207
55,053
28,658
26,395
24,500
7
1840
368,703
14.28
35,793
46,549
295
82,637
52,532
30,105
26,250
71
1841
380,000
14.28
75,732
55,700
1,064
132,496
95,967
36,529
30,400
8
1842
380,000
14.28
66,305
63,125
1,759
131,189
91,577
39,612
30,400
8
1843
380,000
14.28
43,755
37,296
3,027
84,078
39,991
44,087
30,400
8
1844
380,000
14.28
47,165
44,754
2,668
94,587
59,643
34,944
38,000
10
1845
450,000
1428
53,007
54,632
5,041
112,680
48,009
64,671
63,000
15
1846
500,000
14.28
59,092
63,614
4,790
127,496
70,279
57,217
50,000
10
1847
500,000
14.28
69,142
82,621
5,572
157,335
96,937
60,398
50,000
10
1848
525,063
14.58
78,868
92,194
4,125
175,187
109,599
65,588
50,000
10
1649
641,082
14.58
67,097
79,737
9,705
156,539
99,456
57,083
55,000
10
1850
651,214
14.58
54,584
62,577
12,456
129,617
79,347
50,270
48,000
8
1851
651,214
14,5S
47,363
60,553
9,001
116,917
55,544
61,373
54,000
9
1852
651,214
14.58
48,901
73,202
10,442
132,545
78,493
54,052
48,000
8
1853
651,214
1458
63,155
89,521
10,269
162,945
101,792
61,153
48,000
8
1854
654,603
14.58
74,982
108,257
8,648
191,887
136,010
55,877
48,000
8
1855
654,603
14.58
77,289
111,540
7,687
196,516
127,860
68,656
36,000
6
1856
654,603
14.58
75,187
102,014
8,616
186,017
121,589
64,428
45,000
71
1857*
654,603
14.58
90,528
126,110
9,459
226,097
148,793
77,304
45,000
71
1858
654,603
14.58
68,136
108,367
9,582
186,085
114,580
71,505
48,000
8
1859
654,603
14.58
87,799
135,120
6,286
229,205
160,695
68,510
48,000
8
22
ys.
11,740,984
317 76
1,324,527
1,617,682
131,013
3,073,222
1,962,536
1,110,686
915,950
Aver.
553,681
14.44
60,206
73,531
5,955
139,692
89,206
50,486
41,634
81
NEWBURYPORT RAILROAD.
(Financial year ending 30th November, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
George Cogswell,
Joseph B. Morss,
George J. Tenney,
Joseph S. Black,
Humpbrey Hoyt,
Edward Kimball,
Samuel Little,
Benjamin Poole,
Franklin Brickett,
Tappan Pearson,
Wm. N. Cleveland,
[Eleven Directors.
BENJAMIN POOLE, President and Superintendent.
Topsfield, Mass.
O. P. EMERY, Treasurer
Newburyport,
"
PRINCIPAL OFFICE
NEWBURYPORT, Essex Co., Mass.
LENGTHOF RoAD-Danvers & Georgetown RR., S. Danvers to Georget'n 12.39 miles
Newburyport Railroad, Newburyport to Bradford
14.58
"
Total length of consolidated railroad
26.97 miles.
Second track, sidings, etc., 2.39 miles.
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MASSACHUSETTS-NEWBURYPORT.
137
ROLLING STOCK-Locomotive engines
5
Cars :-Passenger, 9; baggage, 5 , merchandise, 29 ; gravel, 10
53
The Newburyport Railroad Company is a consolidation of the Danvers and
Georgetown, and the Newburyport Railroad Companies.
The Danvers and Georgetown Railroad Company was chartered in 1849
and organized in 1852. The capital authorized was $130,000 in $100 shares.
Before the completion of the road the Company contracted running arrange-
ments with the Newburyport Railroad Company; and on its final opening in
1854 the latter corporation entered upon the line with rolling stock and ope-
rated it until the consolidation. The cost of construction to the end of 1854
was $163,664.
The Newburyport Railroad Company was chartered in 1846, with a capi-
tal of $200,000. The construction of the road commenced in 1848. The
first 71 miles from Newburyport were completed in September, 1849, and
the remaining mile to Georgetown on the 23d May, 1850. The section be-
tween Georgetownand Bradford was placed under construction in December,
1850, and opened for public use on the 23d September, 1851. To build this
section the capital was increased by $100,000.
The consolidation of the two companies was provided for by an act of the
Legislature passed on the 9th February, 1855, and on the 22d of the same
month the union was perfected. The joint Company has running arrange-
ments with the Boston and Maine Company (through the Danvers Company),
so that the cars of either can pass between Boston and Newburyport with-
out detention.
(Since the preparation of the above statement, the Newburyport Railroad
has been leased to the Boston and Maine Railroad Company for a period of
100 years-the latter advancing $300,000 to discharge the debts of the
Newburyport Company, a sum equal to about 70 per cent. of their amount,
which sum is to be accepted by the holders in full discharge of their claims.
Of the amount advanced, 50 per cent. is to be paid over to them immedi-
ately, and 20 per cent. held to await certain contingencies in the adjustment
of the affairs of the Company. At the expiration of the lease, the amount
advanced is to be a debt against the Newburyport road.)
SHARE CAPITAL-Authorized, $430,000, in 4,300 $100 shares.
Paid in, - $220,240, in 1,807
"
-and including forfeited stock, etc.
FUNDED DEBT*
$221,600
FLOATING DEBT
$221,693
COST OF ROAD AND EQUIPMENT-3648,969 : in detail as follows-
Graduation and masonry
8197,654
Passenger and baggage cars
$10,850
Superstructure, including iron
179,474
Merchandise and gravel cars
18,224
Stations, buildings and fixtures
24,382
Engineering
13,205
Land, land damages and fences
76,085
Agencies and other expenses
91,372
Locomotive engines
34,622
INCOME ACCOUNT FOR THE YEAR ENDING 30TH NOVEMBER, 1859.
Receipts-
Disbursements-
Passenger earnings
$32,934
Operating expenses
$37,250
Freight
"
18,027
Interest
4.095
Express
"
376
Earnings undivided
9,993
Total
$51,338
Total
$51,338
# The funded debt of the Company is mostly in the hands of the shareholders, and secured by
10 mortgages on the road, furniture, etc.
18
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138
MASSACHUSETTS-NEW BEDFORD AND TAUNTON.
COST, EARNINGS, EXPENSES, ETC., YEARLY.
Cost of
Mile-
Gross Earnings
Operating Earnings,
-Div.-'
Year.
Road, etc.
age.
Pass'er. Freight. Mails, etc.
Total.
expenses.
less exp.
p.e.
1850
$106,825
8.55
$3,551
$3,551
$1,793
$1,758
nil.
nil.
1851
194,735
1458
7,111
7.111
3,869
3,242
"
"
1852
255,613
14.58
14,283
4,935
19,218
11,758
7,460
"
"
1853
281,721
14.58
17,761
8,219
25,980
15,977
10,003
"
"
1854
287,413
14.58
22,283
10,349
32,632
18,772
13,860
"
и
1855
592,623
26.97*
27,584
11,845
1,446
40,875
35,093
5,782
"
"
1856.
610,272
26.97
25,714
17,604
1,684
45,002
41,585
3,417
"
"
1857
626,632
26.97
29,987
18,762
1,291
50,040
44,927
5,113
"
"
1858
629,182
26.97
28,610
15,834
531
44,975
35,717
9,258
"
"
1859
648,969
26.97
32,935
18,027
376
51,338
37,250
14,088
"
"
10 yrs.
4,233,985
201.72
209,819
105,575
5,328
320,722
246,741
73,981
"
"
Aver..
423,398
20.17
20,982
10,557
553
32,072
24,674
7,398
"
"
NEW BEDFORD AND FALL RIVER RAILROAD.
LENGTH OF ROAD-At Taunton, about
0.25-mile.
The New Bedford and Fall River Railroad Company was chartered in 1836,
and constructed a short railroad to connect the New Bedford and Taunton
Railroad with the Fall River Railroad at Taunton. The Company consists
of and the road is owned conjointly by the two companies above designated.
It was completed and opened for public use in 1847.
NEW BEDFORD AND TAUNTON RAILROAD.
(Financial year ending 30th November, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
Joseph Grinnell
New Bedford, Mass.
D. R. Greene
Taunton, Mass.
Ward M. Parker
"
"
Charles L. Wood
"
"
T. Mandell
"
"
P.S. Hathaway
"
"
JOSEPH GRINNELL, President
New Bedford, Mass.
LAWRENCE GRINNELL, Treasurer
"
"
A. E. SWASEY, Superintendent
Taunton,
"
PRINCIPAL OFFICE
NEW BEDFORD, Bristol Co., Mass.
LENGTH OF ROAD-New Bedford to Taunton
20.13 miles
Branch Line to New Bedford Harbor
1.46
"
Second track, including sidings, etc.. 1.06 mile.
ROLLING STOcK-Locomotive engines
7
Cars : Passengor, 16; baggage, 6; merchandise, 137, and gravel, 3
162
-owned in common by the New Bedford and Taunton, and Taunton Branch Com-
panies in proportion to the lengths of their roads severally.
The New Bedford and Taunton Railroad Company was chartered under the
title of " Old Colony Railroad Corporation" on the 13th April, 1838,
with a capital of $400,000 in 4,000 $100 shares. In 1839 its title was
was changed, and its present one adopted. In 1838 the Company was
authorized to construct a branch railroad in New Bedford, and also to unite
at Taunton with the Fall River Railroad. The share capital was by the same
act increased to $500,000. The connection at Taunton was made by the
New Bedford and Fall River Railroad Company.
Fourteen months' operations.
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MASSACHUSETTS-NEW BEDFORD AND TAUNTON.
139
The construction of the New Bedford and Taunton Railroad was com-
menced in May, 1839, and was completed and put in operation on the 2d
July, 1840. In 1847 the connection was made with the Fall River Railroad,
and in the same year the New Bedford Branch connecting with the harbor
was built. The road is now run in connection with the Taunton Branch,
and the same rolling stock used on both lines.
SHARE CAPITAL-Authorized and paid in, $500,000, in 5,000 $100 shares.
FLOATING DEBT-$19,800, bills payable, etc.
Cost OF ROAD AND EQUIPMENT-$547,487: in detail as follows—
Graduation and masonry
$158,108
Locomotives
$17,782
Wooden bridges
5,014
Passenger and baggage cars
17,354
Superstructure, including iron
149,548
Merchandise cars
17,507
Stations, buildings and fixtures
55,349
Engineering
15,694
Land, land-damages and fences
91,185
Agencies and other expenses
19,945
INCOME ACCOUNT FOR THE YEAR ENDING 30TH NOVEMBER, 1859.
Receipts-
Disbursements-
Passenger earnings
$88,378
Maintenance of road, etc
$20,067
Freight
"
46,784
Repairs of rolling stock
12,701
Mail
"
2,400
Fuel, oil, etc
10,846
Rents and interest
1,474
Wages, gratuities, etc
17,084
Taunton Br. RR. Co., (per agreement)
4,225
Taxes and insurance
862
Surplus from 1858
38,949
Tolls to Taunton Br. RR. Co
50,475
Salaries and office expenses
4,902
Interest
$1.059
Dividend 6 per cent
30,000-31,059
Surplus income
34,214
Total
$182,210
Total
$182,210
GENERAL STATEMENT, 1ST DECEMBER, 1859.
Dr.
Cr.
Cost of road
$494,841
Share capital
$500,000
"
construction
52,646
Floating debt
19,800
Assets and other property
17,220
Surplus income
34,214
Profit and loss
10,683
Total
$564,707
Total
$564,707
COST, EARNINGS, EXPENSES, ETC., YEARLY.
Cost
Mile-
Gross Earnings
Operating Earnings.
-Div.-
Year.
of Road.
age.
Pass'gers.
Freight.
Mails,
etc.
Total.
Expenses.
less exp.
$
P c.
1840
$417,188
20.13
$23,251
$2,687
$499
$26,437
$13,026
$13,411
$8,937
3
1841
422,758
20.13
39,469
8,181
4,863
52,513
22,285
30,228
24,000
6
1842
426,122
20.13
43,483
8,920
3,372
55,775
23,354
32,421
24,000
6
1843
428,543
20.13
37,393
11,182
2,096
50,671
22,280
28,391
24,000
6
1844
430,961
2013
46,745
14,444
3,808
64,997
24,180
40,817
24,000
6
1845
453,623
20.13
52,659
17,586
7,966
78,211
29,383
48,828
28,000
7
1846
456,411
20.13
98,903
32,956
2,109
133,968
89,997
43,971
30,000
71
1847
483,882
21.08
95,011
41.007
2,863
138,881
94,760
44,121
32,000
8
1848
499,965
21.08
91,765
42,237
2,149
136,151
96,199
39,952
24,900
6
1849
498,476
21.08
86,280
46,076
2,034
134,390
89,551
44,839
24,000
6
1850
498,751
21 08
92,607
49,802
2,063
144,472
100,760
43,712
28,000
7
1851
510,263
21.08
111,964
59,010
2,475
173,449
120,079
53,370
32,000
8
1852
520,475
21.08
111,544
49,975
2,711
164,230
120,184
44.046
33,500
it
1853
529,964
21.08
125,904
60,470
2,068
188,442
141 513
46,929
35,000
71
1854
533,952
21.37
131,978
62,898
3,615
198,491
141,733
56,758
32,500
6t
1855
553,245
21.59
113,845
52,526
3,410
169,781
128.759
41,022
30,000
6
1856
541,579
21.59
113,250
52,034
3,642
168,926
139,792
29,134
30,000
6
1857
545,093
21.59
110,503
52,474
3,705
166,682
130.846
35,836
30,000
6
1858
544,965
21.59
87,558
46,176
4,179
137,913
108,107
29,806
30,000
6
1859
547,487
21.59
88,378
46,784
9,099
143,261
116,937
26,324
30,000
6
20 yrs.
9,833,704
417.79
1,702,490
757,425
67,726
2,527,541
1,753,725
773,916
553,937
Aver..
491,685
20.88
85,124
37,871
3,386
126,382
87,686
38,696
27,697
6.4
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140
MASSACHUSETTS-NEW YORK AND BOSTON
NEW LONDON, WILLIMANTIC AND PALMER.
(See New London, Willimantic and Palmer of Connecticut.)
NEW YORK AND BOSTON RAILROAD.
(Financial year ending 30th November, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
Marshall S. Rice,
A. B. Ely,
Willard Marcy,
Ralph Sanger,
T. Willis Pratt,
S. F. Plimpton.
JOHN M. Wood, President
Portland, Me.
DENNIS SAGE, Treasurer
Boston, Mass.
M. S. RICE, Superintendent
"
"
PRINCIPAL OFFICE
BOSTON, Suffolk Co., Mass.
LENGTH OF RoAD-Boston to Needham Plain
8.60 miles.
ROLLING STOCK
Supplied by Goss and Munson, contractors.
The New York and Boston Railroad Company, successor to the Charles
River Railroad Company, was chartered on the 31st May. 1856. The
line of its road in operation was constructed by the Charles River Company.
Under the new company the graduation of 23.4 miles has been partially
completed. The road is designed to connect with railroads under the same
name in the States of Rhode Island and Connecticut, upon both of which
some work has been done. The completed portion of the road was formerly
operated by the Boston and Worcester Railroad Company, but is now run
by Goss and Munson, gravel contractors, who pay a rent of $6,000 annually,
and charge the Company for its share of the expenses.
SHARE CAPITAL-Authorized, $600,000 in 6,000 $100 shares.
Paid in, - $223,176 on 3,134
"
FUNDED DEBT-$175,000: classified as follows—
1st Mortgage, 6 per cent., coupon bonds
$150,000
-dated in 1852; interest payable semi-annually, in Boston.
2d Mortgage, 6 per cent., bonds
$25,000
-dated in 1854; interest payable semi-annually, in Boston.
The whole amount provided under the first mortgage was $500,000. The
amount issued was used in funding the floating debt in 1858 and 1859. The
interest on the same has not been paid. The dates of issue and maturity of
bonds were refused.
COST OF ROAD AND APPURTENANCES-$134,334, in detail as follows :
Graduation and masonry
$221,242
Land, land damages and fences
45,702
Wooden bridges
5,571
ngineering xpenses
17,054
Superstructure, including iron
50,261
Agencies and other expenses
86,778
Stations, buildings, and fixtures
7,726
Equipment furnished by contractors.]
INCOME ACCOUNT FOR THE YEAR ENDING 30TH NOVEMBER, 1859.
Receipts-
Disbursements-
Passenger earnings
$16,931
Maintenance of road
8977
U. S. Mail
"
600
Operating expenses, (paid to contractors) 10,914
Rent of road paid by contractors
6,000
Wages and incidental expenses
1,097
Deficit
13
Salaries and other expenses, etc
8,806
Interest
750
Total
$22,544
Total
$22,544
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MASSACHUSETTS-OLD COLONY.
141
Cosr, EARNINGS, EXPENSES, ETC., YEARLY.
Cost of
Mile-
Gross Earnings-
Operating
Net
Div.
Year.
Road,&c.
age.
Pass'r.
Freight
Mails.
Total.
expenses.
Earnings.
$
p.c
1853
$253,808
8.50
$8,304
$2,683
8
$10,987
$10,124
$863
nil.
nil*
1854
312,999
8.50
10,301
3,469
500
14,270
11,238
3,031
"
"
1855
395,719
8.50
11,139
4,346
500
15,985
11,180
4,805
"
"
1856
395,719
8.50
12,363
2,425
400
15,188
13,509
1,679
"
"
1857
395,719
8.50
12,158
2,190
450
14,798
15,115
(Loss)
"
"
1858
416,121
8.50
10,345
1,661
4,600
16,606
14,959
1,647
"
"
1859
434,431
8.50
13,331
2,599
6,600
22,530
22,434
(Loss)
"
"
i yrs.
$2,604,426
59.50
77,941
19,373
13,050
110,364
98,559
12,025
"
"
Aver.
372,061
8.50
11,134
2,767
1,864
15,766
14,081
1,718
"
"
NEWTON RAILROAD.
(See Boston City Passenger Railroads, postea.)
NORFOLK COUNTY RAILROAD.
(See Boston and New York Central, and Midland Railroads.)
NORWICH AND WORCESTER RAILROAD.
(See Norwich and Worcester Railroad, Connecticut.)
OLD COLONY RAILROAD.
(Now a part of the Old Colony and Fall River Railroad.)
LENGTH OF RoAD-Boston to Plymouth
37.26 miles.
Abington and Bridgewater Branch
7.76
"
Length of second track and sidings, 18.26 miles.
The Old Colony Railroad Company was incorporated in March, and organized
on the 25th June, 1844. The work of construction was immediately there-
after commenced, and the whole line between South Boston and Plymouth
opened on the 10th November, 1845. In 1846 the road was extended to its
present station in the city. The Abington Branch was constructed in 1846-
7, and opened in June of the latter year. In 1848, a second track was laid
between Boston and South Braintree. the point of connection with the Fall
River Road, 11 miles. In 1847 leases were taken of the South Shore Rail-
road, and of the Dorchester and Milton Branch. That of the former was
for a period of five years, during which the Old Colony Company agreed to
run and maintain the road, and pay, as rent, 6 per cent, on its cost. The
lease terminated in 1854, resulting in a considerable loss to the Old Colony
Company, The Dorcester and Milton road was run by the Old Colony
Company up to the time of the consolidation. In December, 1847, a con-
tract was made with the Fall River Company, whereby the trains of the
latter were run over the road of the former into Boston. On the 7th Sep-
tember, 1854, the Old Colony Company was consolidated with the Fall River
Company, under the title of the Old Colony and Fall River Company, which
see. The cost of the road of the former at that date was $2,393,544; Share
Capital, $1,964,070; Funded Debt, $223,200; Floating Debt, $70,888.
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142
MASSACHUSETTS-OLD COLONY AND FALL RIVER.
Cost, EARNINGS, EXPENSES, ETC., YEARLY.
Cost of
Mile-
Gross Earnings
Operating
Earnings,
Div
Years.
Road, etc.
age.
Pass'er.
Freight.
Mails.
Total.
expenses.
less exp.
p.e
1846
$1,397,058
37.26
$101,857
$20.404
$3,450
$125,711
$57,230
$68,481
63,000
6
1847
1,636,632
44.28
124,776
41.527
4,850
171,153
74,719
96,434
78,006
71
1848
2,080,903
45.02
150,703
53,757
22,890
227,350
87,379
139,971
91,362
71
1849 2,292,400
45.02
184,669
55,632
34,765
275,066
197,516
77,550
nil.
nil.
1850
2,293,534
45.02
196,432
65,431
34,307
296,170
195,233
100,937
"
"
1851
2,293,534
45.02
208,683
63,174
46,218
318,075
221,196
96,879
39,280
2
1852
2,293,534
45.02
213,822
67,595
40,796
322,213
202,340
119,873
nil.
nil.
1853
2,293,534
45.02
261,894
85,475
27,510
374,879
233,833
141,046
"
"
8 yrs. 16,581,129
351.66
1,442,836
452,995
214,786
2,110,617
1,269,446
841,171
271,648
Aver.
2,072,649
43.95
180,354
56,622
26,848
263,827
158,681
105,146
33,956
2.9
OLD COLONY AND FALL RIVER RAILROAD.
(Financial year ending 30th Nov., 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
Rlchard Borden
Fall River, Mass.
C. C. Gilbert
Boston, Mass.
Peter H. Pierce
Middleboro, "
William J. Walker
"
"
F. B. Crowninshield
Boston,
"
James H. Beal
"
"
ALEXANDER HOLMES, President and Superintendent
Kingston, Mass.
JOHN M. WASHBURN, Treasurer
Boston, "
PRINCIPAL OFFICE
BOSTON, Suffolk Co., Mass.
LENGTH OF ROAD-Old Colony Railroad, Boston to Plymouth
37.26 miles.
Fall River Railroad, South Braintree to Fall River
42.24
"
4
Bridgewater Branch, South Abington to Bridgewater 7.76
"
Total length of road owned by Company
87.26 miles.
Leased Line-Dorchester and Milton Branch Railroad
3.24
"
Total length of road operated
90.50 miles.
Second track on main roads (Boston to South Braintree), 11.50 miles.
Sidings and other track, excepting main and branch roads, 14.00 miles.
ROLLING STocK-Locomotive engines
27
Cars :-Passenger, 46 ; baggage, 15; merchandise, etc., 343
404
The Old Colony and Fall River Railroad Company is a consolidation of the
Old Colony Railroad Company and the Fall River Company, authorized on
the 25th March, 1854, on such terms as should be mutually agreed upon by
a majority of the votes of the stockholders in the two companies. In the
agreement for consolidation, the value of the Old Colony Railroad was esti-
mated at $1,650,000, and that of the Fall River $1,050,000. The Share
Capital of the former was $1,965,100; that of the latter $1,050,000 and it
was agreed that the Share Capital of the new should equal the aggregate
of those of the two old companies, $3,015,100, to be divided between the
stockholders of each, in ratio to the estimated value of the respective roads.
The consolidation was finally effected on the 1st July, 1854. The Company
operates the Dorchester and Milton Branch Railroad under a contract, dated
3d Feb. 858, to extend to 1st January, 1861, which provides that it shall
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MASSACHUSETTS-OLD COLONY AND FALL RIVER.
143
supply the rolling stock, and receive one-half the gross earnings of the road,
and in addition 50 cents per mile for every mile run by its trains over it-the
Dorchester and Milton Company to maintain its road.
SHARE CAPITAL-Authorized, $3,300,000, in 33,000 $100 shares.
Paid in, - $3,015,100, in 30,151
"
FUNDED DEBT-$135,500.
The Funded Debt of the Company consists of 6 per cent. coupon bonds
falling due as follows : $28,500 on the 1st April, 1860 $30,500 on the 1st
April, 1861; $30,000 on the 1st April, 1862; $29,500 on the 1st April,
1863 ; and $16,000 on the 1st April, 1864. The interest is payable half-
yearly on the 1st April and 1st October, in Boston.
COST OF ROAD AND EQUIPMENT-$3,434,164, ( less charged off for deteriora-
tion, $71,216): in detail as follows—
Graduation and masonry
$491,340
Passenger and baggage cars
$94,281
Wooden bridges
99,439
Merchandise cars
78,962
Superstructure, including iron
877,046
Engineering
353,366
Stations, buildings and fixtures
295,565
Agencies and other expenses
2,755
Land, land-damages and fences
851,051
Cost of Abington Branch
129,099
Locomotives
161,260
Assets or property held by the Corporation, in addition to the cost of the road, etc., $567,321.
INCOME ACCOUNT FOR THE YEAR ENDING 30TH Nov., 1859.
Receipts-
Disbursements-
Passenger earnings
$390,586
Maintenance of way
$100,647
Freight
"
219,275
Repairs of stations
10,387
Dorchester and Milton trains
4,271
"
rolling stock
68,047
U.S. Mails
10,750
Fuel
47,766
Expresses
7,628
Oil and waste
7,563
Extra baggage
5,802
Salaries, wages and gratuities
84,143
Rents
6,863
Taxes and insurance
5,353
Express trains for Cape Cod and Fair-
Interest
10,331
haven Branch Railroad
1,580
Dividend 6 per cent
180,906
Surplus from 1858
452,145
Surplus
567,321
Total
$1,088,900
Total
$1,089,900
GENERAL LEDGER BALANCE SHEET, 1ST Dec., 1859.
Dr.
Cr.
Construction
$3,362,949
Share capital
$3,015,100
Materials on hand
112,528
Bonded debt
134,500
Taxes and insurance
4.000
Coupons unpaid
210
Post-office department
8,971
Bills payable
60,900
Shares of Old Colony and F. R. RR
262,596
Surplus income
567,321
Bills receivable
70,630
Dividend unpaid
3,478
Cash
42,443
Dividend No. 11, payable 2d Jan., '60
90,453
Sundries
11,664
Contingent, etc
3,819
Total
$3,875,781
Total
$3,875,781
COST, EARNINGS, EXPENSES, ETC., YEARLY.
Cost of
Mile-
Gross Earnings
Operating
Net
Div.
Year. Road, etc.
age.
Pass'er.
Freight. Mails, etc
Total.
expenses.
Earnings.
$
p.c.
1854.
$3,362,948
87.26
419,015
217,148
13,493
649,656
490,270
159,386
90,453
3
1855
3,362,948
87.26
418,931
217,225
16,743
652,899
357,762
295,137
180,906
6
1856.
3,362,948
87.26
429,162
230,191
24,003
683,356
378,217
305,139
180,906
6
1857
3,362,948
87.26
391,733
187,735
25,084
604,552
342,371
262,181
180,906
6
1858.
3,362,948
87.26
354,360
169,189
27,850
551,399
283,755
267,644
180,906
6
1859.
3,362,948
87.26
404,017
219,275
23,463
646,755
340,342
306,413
180,906
6
6
yrs.
20,177,688
523.56
2,417,218
1,240,763
130,636
3,788,617
2,192,717
1,595,900
994,968
Aver.
3,362,948
87.26
402,869
206,790
21,773
631,436
365,453
265,983
165,828
51
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144
MASSACHUSETTS-PETERBORO' AND SHIRLEY.
PETERBORO' AND SHIRLEY RAILROAD.
(Financial year ending 30th November, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
John Nesmith
Boston, Mass.
Daniel Adams
Boston, Mass.
Lyman Nichols
"
"
Walter Fessenden
"
"
George Taft
"
"
Moses Prichard
"
"
F. A. Worcester
"
"
L. W. Woods
"
"
WILLIAM J. WALKER, President
Boston, Mass.
PRINCIPAL OFFICE
Boston, Suffolk Co., Mass.
LENGTH OF RoAD-Groton Junction to New Hampshire State line
14.1 miles.
Sidings, turnouts, and other track, 0.4 mile.
ROLLING STOCK
None.
The Peterboro' and Shirley Railroad Company was incorporated in 1845.
The road was opened for public use from Groton to West Townsend in Ja-
nuary, 1848, and to the State Line during the year 1850. On the 1st De-
cember, 1847, the road was leased to the Fitchburg Company for 12 years
(with the option of a further term of 13 years), the latter agreeing to keep
the road in repair, and pay for its use six per cent on its cost, and $300 in
addition annually. On the 1st July, 1852, this agreement was modified and
thenceafter 7 per cent. was paid. On the 1st January, 1860, the Fitchburg
Company purchased the road for the sum of $132,666.
SHARE CAPITAL-Authorized, $275,000, in 2,750 $100 shares.
Paid in, - $263,700, in 2,637
"
FUNDED DEBT
$16,100.
FLOATING DEBT
None.
CosT OF ROAD, ETc.-$265,327. No details given.
The Company has a claim against the New Hampshire portion of the
road, consisting of bonds, notes, and judgments secured by mortgage, the
nominal value of which is $120,944.
COST, EARNINGS, EXPENSES, ETC., YEARLY.
Cost of
Mile-
Rent from
Operating
Net
Div.
Years.
Road, etc.
age.
Fitchburg Co.
expenses.
Earnings.
$
p. c
1848
$208,311
1201
$12,798
$11,798
$1,000
nil.
nil
1849
223,537
12.01
13,712
11,798
1,914
"
"
1830
272,647
14.10
16,658
13,005
3,653
18,250
12f
1851
262,115
14.10
16,146
11,689
4,457
nil.
nil
1852
263,540
14.10
17,423
2,150
15,273
"
"
1853
263,576
14 10
18,750
300
18,450
"
"
1854
264,601
14 10
18,822
300
18,522
"
"
1855
265,268
1410
18,869
900
17,969
5,250
2*
1856
265,268
14.10
18,869
300
18,569
7,884
3
1857
265,327
14.10
22,373
406
21,967
nil.
nil.
1858
265,327
14.10
22,373
369
22,004
6,592
21
1859
265,327
14.10
22,373
674
21,797
nil.
nil.
12 years
$3,084,844
165 02
219,166
53,689
165,695
37,976
Average
257,070
13.75
18,264
4,474
13,808
3,164
11
* Also 25 per cent. in stock.
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MASSACHUSETTS-PITTSFIELD AND NORTH ADAMS.
145
PITTSFIELD AND NORTH ADAMS RAILROAD.
(Financial year ending 30th Nov., 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
Robert Campbell
Pittsfield, Mass.
William H. Swift
Boston, Mass.
Chester W. Chapin
Springfield,
"
Stephen Fairbanks
"
"
CHESTER W. CHAPIN, President
Springfield, Mass.
PRINCIPAL OFFICE
BOSTON, Suffolk Co., Mass.
LENGTH OF RoAD-Pittsfield to North Adams
18.65 miles.
Sidings, turnouts, and other track, 0.70 mile.
ROLLING STOCK-None. Operated by the Western Railroad Company.
The Pittsfield and North Adams Railroad Company was chartered on the 18th
March, 1845. The construction of the road was commenced in the same
year and completed for business on the 1st December, 1846. On th 30th
Jan., 1846, the Western Railroad Company took a lease of the road, to take
effect from its opening, for a period of 30 years, agreeing to pay therefor, as
rent, 6 per cent. on its cost, and at the end of said term to purchase the road
at cost, or renew the lease for a further term of 99 years, paying therefor 5
per cent., annually, on its cost. In the payment of rent the cost of the road
is taken at $450,000.
SHARE CAPItAL-Authorized by charter, $500,000, in 5,000 $100 shares.
Subscribed and paid in, $450,000, in 4,500
"
Cosr OF ROAD AND EQUIPMENT-$443,678: in detail as follows—
Graduation and masonry
$108,827
Land, land-damages and fences
$63,743
Bridges (iron), $1,304; wood, $7,244
8,548
Locomotives
7,000
Superstructure, including iron
201,395
Passenger and baggage cars
4,247
Stations, buildings and fixtures
59,311
Engineering
20,606
INCOME ACCOUNT FOR THE YEAR ENDING 30TH Nov., 1859.
Receipts-
Disbursements-
Passenger earnings
$18,733
Maintenance of way
$8,149
Freight
"
26,497
Repairs of rolling stock
3,117
U.S. mail
"
1,575
stations
294
Rent and other sources
1,550
Fuel
3,375
Deficit
1,873
Oil and waste
955
Salaries, wages, etc
7,338
Rent paid to P. and N. A. RR. Co
27,000
Total
$50,228
Total
$50,228
Cost, EARNINGS, EXPENSES, ETC., YEARLY.
Cost of
Mile-
Gross Earnings
Operating Earnings,
-Dir.-
Years.
Road, etc.
age.
Pass'er.
Freight.
Mails.
Total.
expenses.
less exp.
$
p.c.
1847
$446,353
18.55
$15,763
$10,006
$206
$25,975
$17,799
$8,176
27,000
6
1848
447,755
18.65
14,658
13,382
279
28,319
10,851
17,468
27,000
6
1849
446,543
1865
15,712
15,466
180
31,358
11,524
19,834
27,000
6
1850
443,677
1865
16,643
15,871
91
32,605
13,456
19,149
27,000
6
1851
443,677
18.65
17,132
19,482
900
37,514
16,012
21,502
27,000
6
1852
443,677
18.65
17,532
21,963
900
40,395
18,087
22,308
27,000
6
1853
443,677
18.65
21,231
25,202
900
47,333
21,124
26,209
27,000
6
1854
443,677
1865
22,495
27,500
900
50,895
25,376
25,519
27,000
6
1855
443,677
18.65
22,439
30,503
1,900
54,842
29,230
25,612
27,000
6
1856
443,677
18.85
22,384
34,535
1,900
58,819
29,656
29,163
27,000
6
1857
443,677
18.65
20,571
30,791
2,181
53,543
28,461
25,082
27,000
6
1858
443,677
18.65
17,417
27,043
2,575
47,035
24,129
22,906
27,000
6
1859
443,677
18.65
18,733
26,497
3,125
48,355
23,227
25,128
27,000
6
13
yrs
$5,777,421
242.45
242,710
298,241
16,037
556,988
268,932
288,066
351,000
Aver..
444,417
18.65
18.670
22,941
1,233
42,844
20,687
22,157
27,000
6
1)
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146
MASSACHUSETTS-PROVIDENCE AND WORCESTER.
PROVIDENCE, WARREN AND BRISTOL RAILROAD.
This road is partly in Massachusetts, but mainly in Rhode Island. The
Massachusetts Company was chartered under the title of " Providence and
Bristol in 1851, and was consolidated with the Rhode Island Company in
1853. The Consolidated Company was organized on the 9th July, 1853.-
(See Providence, Warren and Bristol Railroad, Rhode Island.)
PROVIDENCE AND WORCESTER RAILROAD.
(Financial year ending 30th November, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
H. N. Slater
Providence, R.I.
Henry Goulding
Worcester, Mass.
Earl P. Mason
"
"
Isaac Davis
"
"
James Y. Smith
"
"
E. Harris
Woonsocket, R.I.
Alexander DeWitt
Oxford, Mass.
J. H. Southwick
Providence, "
Paul Whitin
Whitinsville,
"
Edward Pearce
"
"
Harvey Chase
Providence, R.I.
Duty Greene
"
"
Daniel W. Vaughan
"
"
Benj. E. Bates
Boston, Mass.
Thomas P. Shepard
"
"
Philo. Sandford
"
"
W. M. Bickford
Worcester, Mass.
John Smith
Worcester,
"
HORATIO N. SLATER, President
Providence, R.I.
JOHN R. BALCH, Treasurer
"
"
S. H. TABOR
"
"
PRINCIPAL OFFICE
PROVIDENCE, Providence Co., Mass.
LENGTH OF ROAD-Providence, R.I., to Worcester, Mass
43.41 miles.
Second track, 6.41 miles, and sidings, etc., 8.50 miles.
ROLLING STOCK-Locomotive engines
12
Cars :-Passenger, 14; baggage, 4; merchandise, 260, and gravel, 120
398
The Providence and Worcester Railroad Company is a consolidation of two
companies of the same name chartered in 1844, by the Legislatures of Mas-
sachusetts and Rhode Island, and authorized to construct a line between
Providence and Worcester, and to consolidate themselves into one corpora-
tion, which was effected on the 25th November, 1845. The Company was
also authorized to purchase the Blackstone Canal between Providence and
Worcester, and the road is located on the bank of that work as far as prac-
ticable. The eonstruction of the road was commenced in 1845, and the
southern portion of the line opened for business on the 27th September, and
the northern portion on the 20th October, 1847. The line for about 41 miles
out of Providence is common to this and the Boston and Providence Rail-
road. The two companies own one-half each of the passenger station at
Providence.
SHARE CAPITAL-Authorized, $1,550,000, in 15,500 $100 shares.
Paid in, - $1,510,200, on
"
"
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MASSACHUSETTS-SOMERVILLE.
147
FUNDED DEBT-$300,000 : in detail as follows-
1st Mortgage, 6 per cent., coupon bonds
$300,000
-dated 4th August, 1850, and payable 4th August, 1860 ; interest payable
quarterly on the 4th August, 4th November, 4th February, and 4th May, at
the Company's office.
Cost OF ROAD AND EQUIPMENT-$1,761,543 : in detail as follows—
Construction (not detailed)
$1,506,977
Passenger, merchandise and other cars $148,993
Locomotive engines
105,643
INCOME ACCOUNT FOR THE YEAR ENDING 30TH Nov., 1859.
Receipts-
Disbursements-
Passenger earnings
$139,237
Maintenance of way
$68,363
Merchandise
194,033
Repairs of locomotives and engines
20,593
Mail service, etc
8,566
"
cars
18,911
Fuel, and oil and waste
22,629
Expenses of freight department
27,798
16
"
passenger
20,992
Miscellaneous expenses
26,163
Interest
17,895
Dividend
97,000
Balance
21,492
Total
$341,836
Total
$341,836
GENERAL LEDGER BALANCE SHEET, 30TH Nov., 1859.
Dr.
Cr.
Construction
$1,506,978
Capital stock
$1,550,000
Locomotive engines
105,642
Bonds
300,000
Cars
148,923
Dividend payable Jan. 1, 1860
46,500
Shares in Prov. & Worcester RR. Co.
39,800
Dividend not called for
477
Materials for working the road
37,358
Cash and cash items
58,276
Total
$1,896,977
Total
$1,896,977
COST, EARNINGS, EXPENSES, ETC., YEARLY.
Cost of
Mile-
Gross Earnings
Operating
Net
Year.
Road, etc.
age.
Pass'er.
Freight. Mails, etc
Total.
expenses.
Earnings.
$
p.c.
1847
$1,756,755
43.41
21,128
9,273
1,632
32,033
9,841
22,192
#
1848.
1,873,895
43.41
117,386
73,917
2,541
193,844
83,890
109,954
nil.
nil.
1849.
1,939,666
43.41
118,220
93,921
5,112
217,253
101,231
116,022
43,725
3t
1850.
1,824,796
43.41
114,552
83,399
4,800
202,751
95,180
107,571
nil.
nil.
1851.
1,820,064
43.41$
117,043
82,123
3,723
202,889
86,958
115,931
"
"
1852.
1,731,498
43.41
129,044
118,565
6,081
253,690
114,175
139,515
87,450
6
1853.
1,791,999
4341
147,388
139,286
4,743
291,417
170,525
120,892
91,225
6
1854.
1,843,332
43.41
155,776
155,103
5,737
316,616
229,7734
86,843
108,500
7
1855.
1,806,696
4341
141,694
163,490
6,245
311,429
199,902
111,527
nil.
nil.
1856.
1,781,047
43.41
141,294
194,965
8514
344,773
189,729
155,044
108,500
7
1857.
1,785,245
43.41
133,895
173,127
4.780
311,802
169,773
142,029
124,000
8
1858.
1,789,476
43.41
114,288
148,616
7,498
270,402
160,058
110,344
93,000
6
1859.
1,761,543
43.41
139,237
194,033
8,566
341,836
204,750
137,086
93,000
6
13
ys.
22,706,012
564.33
1,590,945
1,629,818
69,972
3,290,735
1,815,785
1,474,950
749,400
Aver.
1,746,616
43.41
122,380
125,371
5,382
253,133
139,676
113,457
57,646
31
SOMERVILLE RAILROAD.
(See Boston City Passenger Railroads, postea.)
# Interest on assessment of share capital paid up to 20th October, 1847, amounting to $6 per
share, or $66,000 in all. + Also a stock dividend of 40 per cent. 1 Eleven months' operations.
1 Including $44,468 paid for collision expenses, resulting from the accident which occurred in
August, 1853, by which 13 persons were killed and many dangerously wounded.
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148
MASSACHUSETTS--SALEM AND LOWELL.
SALEM AND LOWELL RAILROAD.
(Financial year ending 30th November, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
Sidney Spalding
Lowell, Mass.
William E. Livingston
Lowell, Mass.
Josiah B. French
"
"
J. W. Peele
Salem, "
Caleb Livingston
Tewkesbury, "
N. B. Perkins
"
"
CHARLES F. FLINT, President
North Reading, Mass.
F. H. NOURSE, Treasurer and Secretary
Lowell,
"
J. B. WINSLOW, Superintendent
Boston, "
LENGTH OF Road-Tewkesbury to South Danvers
16.88 mi.es.
Sidings, turnouts, and other tracks, 1.73 mile.
ROLLING STock-Locomotive engines
3
Cars :-Passenger, 3; baggage, 1; merchandise, 197
201
The Salem and Lowell Railroad Company was chartered on the 13th March,
1848, and authorized to constract a road from Salem to Lowell, and use
parts of the Essex and the Lowell and Lawrence Railroads. The construc-
tion of the road was commenced in August, 1849, and completed in August,
1850. On the 13th June, 1850, a contract was made with the Lowell and
Lawrence Company to operate the road with that part of their own between
Lowell and Tewkesbury, dividing the earnings and expenses in proportion
to the mileage run by trains on each. This arrangement continued until the
1st October, 1858, at which date both roads were leased for 20 years to the
Boston and Lowell Company-the Salem and Lowell Railroad at an annual
rent of $17,500, payable half yearly, 1st February and 1st August.
SHARE CAPITAL-Authorized, $400,000, in 4,000 $100 shares.
Paid in, - $243,305, in 2,433
"
FUNDED DEBT-$226,900 : described as follows-
Mortgage, 6 per cent., coupon bonds
$226,900
-issued 15th February, 1856, and payable, principal 15th February, 1878,
and coupons semi annually, 15th Feb. and 15th Aug., at Salem or Lowell.
COST OF ROAD AND EQUIPMENT-$449,530 : in detail, as follows—
Graduation and masonry
894.832
Passenger and baggage cars
$7,421
Wooden bridges
3,139
Merchandise and gravel cars
53,174
Superstructure, including iron
123,801
Engineering
6,928
Stations, buildings and fixtures
8,399
Agencies and other expenses
6,141
Land, land-damages and fences
48,007
Discount on bonds and miscellaneous
75,739
Locomotive engines
21,949
INCOME ACCOUNT FOR THE YEAR ENDING 30TH Nov., 1859.
Receipts-
Disbursements-
Rent of road
$17,500
Dividend, 6 per cent
$14,598
Surplus from 1858
1,598
Surplus 1st December, 1859
4,500
Total
$19,098
Total
$19,098
GENERAL LEDGER BALANCE SHEET, 1ST DEC., 1859.
Dr.
Cr.
Cost of road
$366,987
Share capital
$243,305
"
rolling stock
82.543
Funded debt
226,900
Assets
8,034
Floating debt
316
Profit and loss
12,957
Total
8470,521
Total
$470,521
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MASSACHUSETTS-SOUTH READING BRANCH.
149
COST, EARNINGS, EXPENSES, ETc., YEARLY.
Cost of
Mile-
Gross Earnings
Operating Earnings,
-Div.-
Yrs.
Road, etc.
age.
Pass'er.
Freight. Mails.
Total.
expenses.t less exp.
$
p.c.
1850
$316,943
16.88
$5,587
$9,918
$
$15,505
$11,304
$4,201
nil.
nil.
1851
343,220
16.88*
14,138
22,502
36,640
27,538
9,102
"
"
1852
362,672
16.88
20,640
33,054
53,694
47,248
6,446
"
"
1853
362,852
16.88
30,722
24,959
55,681
45,995
9,686
"
"
1854
373,879
16.88
36,302
31,081
69
67,452
57,166
10,286
"
"
1855
374,065
16.88
27,283
39,023
577
66,883
59,787
7,096
"
"
1856
449,805
1688
19,773
41,858
1,298
62,929
53,070
9,859
"
"
1857
449,530
16.88
17,565
47,403
1,279
66,247
51,423
14,824
"
"
1858
449,530
16.88
10,477
32,650
7,729$
50,856$
38,833
12,023
"
"
1859
449,530
16.88
||20,417
14,598
6
10 yrs. $3,933,026
168,80
103,940
14,598
Aver
393,302
16.88
10,394
1,459
0.6
SOUTH READING BRANCH RAILROAD.
(Financial year ending 30th November, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
John C. Lee
Salem, Mass.
Henry H. Ladd
Portsmouch, N.H.
Micajah Lunt
Newburyport,
"
Nathan D. Chase
Lynn, "
Franklin Haven
Boston,
"
Samuel Hooper
Boston,
"
GEORGE M. BROWNE, President.
Salem, Mass.
JOHN B. PARKER, Treasurer
Boston,
"
JERRMIAH PRESCOTT, Superintendent
"
"
PRINCIPAL OFFICE
BOSTON, (Phenix Buildings,) Suffolk Co., Mass.
LENGTH OF RoAD-Salem to South Reading
8.15 miles.
The South Reading Branch Railroad Company was chartered on the 26th
April, 1848, and the road completed an the 1st September, 1850. On the
1st July, 1851, the Eastern Railroad Company purchased its Share Capital,
and also its rolling stock, and since the 1st October of the same year has
operated the road. Though owned by the Eastern Company a separate or-
ganization is maintained, and separate reports made annually to the Legisla-
ture.-(See Eastern Railroad.)
SHARE CAPITAL-Authorized, $400,000 Paid in, $209,533.
COST OF ROAD AND EQUIPMENT-$299,468 : in detail as follows—
Graduation and masonry, etc
$104,522
Land, land-damages and fences
$50,508
Superstructure, including iron
61,539
Engineering
7,405
Stations, buildings and fixtures
9,303
Agencies and other expenses
66,191
INCOME ACCOUNT FOR THE YEAR ENDING 30TH Nov., 1859.
Receipts-
Disbursements-
Passenger earnings
$15,263
Maintenance of way, etc
$2,743
Freight
"
3,944
Repairs of stations, etc
1,397
Miscellaneous"
529
"
rolling stock
3,874
Wood and coal
5,039
$19,736
Salaries, wages, etc
6,148
Loss paid by Eastern Company
2,691
Rent of Essex Railroad
3,200
Office expenses
26
Total
$22,427
Total
$22,427
# Eleven months' operations. t Including annual rent, viz, to Essex Railroad Company $4,800
and to Lowell and Lawrence Railroad Company $4,000, and also its proportion in maintaining Essex
Railroad between South Danvers and Salem. 1 Including $6,452 received for wood and material
sold to Boston and Lowell Company. 1 Ten months' operations to 30th September, 1858. Il Four-
teen months' rent, from Ist October, 1858, to 30th November, 1859, inclusive.
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150
MASSACHUSETTS-SOUTH SHORE.
COST, EARNINGS, EXPENSES, ETC., YEARLY.
Cost of
Mile-
Gross Earnings
Operating
Net
Div.
Year.
Road, etc.
age.
Pass'er.
Freight.
Mails,
etc
Total.
expenses.
Earnings.
$
p.c.
1851
$293,759
8.15
$28,839
$9,689
$3,707
842,235
$29,822
$12,413
10,000
5
1852
236,226
8.15
34,681
16,494
7,073
58,248
43,329
14,919
nil.
nil.
1853
236,226
8.15
15,126
5,950
575
21,651
22,441
(Loss 1,790)
"
"
1854
293,683
8.15
13,023
4,756
1,069
18,848
22,847
(Loss 3,999)
"
"
1855
293,683
815
9,672
3,533
355
13,560
22,355
(Loss 8,795)
"
"
1856
298,920
8.15
23,525
2,174
2,987
28,686
22,511
6,175
"
"
1857
298,920
8.15
17,245
1,988
226
19,459
20,569
(Loss 1,110)
"
"
1358
299,210
8.15
16,303
2.539
488
19,330
20,512
(Loss 1,182)
=
"
1859
299,628
8.15
15,263
3,944
529
19,737
22,427
(Loss 2,691)
"
"
9 yrs
$2,550,255
73.35
173,677
51,067
17,009
241,753
226,813
14,940
10,000
Aver
283,361
8.15
19,297
5,674
1,889
26,861
25,201
1,660
1,111
I
SOUTH SHORE RAILROAD.
(Financial year ending 30th November, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
Charles Humphrey
Boston, Mass.
Joseph Loud
Weymouth, Mass.
John W. Loud
Weymouth, "
Laban Souther
Cohasset,
"
Elliott L. White
"
"
William Sohier
"
"
WILLIAM HUMPHREY, President
Boston, Mass.
GILMAN Davis, Treasurer
"
"
LABAN SOUTHER, Superintendent
Cohasset, "
PRINCIPAL OFFICE
COHASSET, Norfolk Co., Mass.
LENGTH OF RoAD-Braintree to Cohasset
11.50 miles.
Sidings and turnouts, etc., 0.40 miles.
ROLLING STocK-Locomotive engines
2
Cars :-Passenger, 7; baggage, 2; merchandise, 8, and gravel, 7
24
The South Shore Railroad Company was chartered on the 26th March, 1846.
The construction of its road was commenced in November, 1847, and com-
pleted on the 1st January, 1849. On the 20th Sept., 1847, a contract was
made between this Company and the Old Colony Railroad Company, where-
by the latter agreed to run and maintain the South Shore Railroad for a
period of five years from the date of its completion, and pay as rent there-
for six per cent. on its cost. Since the expiration of this contract the Com-
pany has operated its own road. While the road was run by the Old Colony
Company no statement was made of its earnings or current expenses.
SHARE CAPITAL-Authorized, $600,000, in 12,000 $50 shares.
Paid in, - 259,685, on 10,000
"
FUNDED DEBT-$145,770 in detail as follows-
1st Mortgage, 7 per cent., coupon bonds
$111,300
-dated 1st April, 1850, and payable 1st April, 1860; interest payable the
1st April and 1st Oct., at the Globe Bank, Boston. The total issue of this
class was $150,000, of which $38,700 have been paid.
2d Mortgage, 6 per cent. bonds
$34,470
-dated 1st Jan., 1855. and payable 1st Jan., 1865; interest payable 1st
Jan. and 1st July, at the office of the Company. Interest on both classes
has been regularly paid.
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MASSACHUSETTS-STOCKBRIDGE AND PITTSFIELD.
151
COST OF ROAD AND EQUIPMENT-$501,593 : in detail as follows-
Graduation and masonry
$125,382
Locomotives
$15,600
Wooden bridges
13,448
Passenger and baggage cars
17,026
Superstructure, including iron
82,063
Merchandise cars
6,799
Stations, buildings and fixtures
29,530
Engineering
13,403
Land and land-damages and fences
101,978
Agencies and other expenses
96,363
Assets or property held by the Corporation, in addition to the cost of the road, etc., $11,519.
INCOME ACCOUNT FOR THE YEAR ENDING 31sT OCTOBER, 1858.
Receipts-
Disbursements--
Surplus from last year
$38,072
Roadway
$4,762
Passenger earnings
55,121
Motive power and cars
1,438
Freight
"
2,242
Fuel, material, salaries & miscellaneous 37,122
Mail service, etc
1,421
Interest
9,310
*Balance
44,224
Total
$96,856
Total
$96,856
GENERAL LEDGER BALANCE SHEET, 1ST DEC, 1859.
Dr.
Cr.
Cost of road
$462,167
Share capital
$259,685
"
equipment
39,426
Funded debt
153,290
Other assets
11,519
Floating debt
2,821
First mortgage bonds (Company's)
29,300
Profit and loss
141,541
Surplus income
14,925
Total
$557,337
Total
$557,337
COST, EARNINGS, EXPENSES, ETc., YEARLY
Cost.
Mile-
Gross Earnings
Operating
Net
-Div.-
Year.
of Road.
age.
Pass'gers. Freight. Mails, etc. Total.
Expenses.
Earnings.
$
p.c
1849
$373,616
11.50
Operated by Old Colony
+16,814
$16,814
"
"
1850
420,434
11.50
Company from 1st April,
25,224
25,224
nil.
nil.
1851
427,689
11 50
1849, to 31st March,
$23,507
23,507
7,500
3
1852
428,831
11.50
1854, which paid in rent
25,728
25,728
7,500
3
1853
435,163
11.50
6 per cent. on cost of
26,106
26,106
"
"
1854
road.
$8,702
8,702
nil.
nil.
1854
482,295
11.50
||40,759
2,161
298
43,218
27,898
16,320
"
:
1855
500,569
1150
61,898
2,320
1,092
65,310
48,924
16,386
"
"
1856
500,804
11.50
63,342
6,723
1,482
71,547
50,409
21,138
"
"
1857
501,303
11.50
58,127
5,736
1,536
65,399
48,615
16,784
"
"
1858
501,593
11.50
51,961
4,345
1,481
57,787
41,275
16,512
"
"
1859
501,593
11.50
55,121
2,241
1,421
58,784
43,321
15,463
"
"
10# yrs
5,073,890
126.50
488,126
227,684
15,000
Aver.
461,263
11,50
46,488
21,684
1,428
01
STOCKBRIDGE AND PITTSFIFLD RAILROAD.
(Financial year ending 30th November, 1859.)
THOMAS HURLBUT, President
South Lee, Mass.
PRINCIPAL OFFICE
BRIDGEPORT, Ct.
LENGTH OF Road-Great Barrington to Pittsfield
21.93 miles.
The Stockbridge and Pittsfield Railroad Company was chartered in 1847. The
construction of its road was commenced in 1848, and the whole line opened
for public use on the 1st January, 1850, and operated by the Housatonic
* Includes $29,300 1st Mortgage Bonds, purchased and paid for. t Rent for 9 months, from 1st
April to 30th December, 1849. 1 Rent for 11 months, from 1st January to 30th November, 1851.
( Rent for 4 months, from 1st December, 1853, to 31st March, 1854. II Income account for 8 months.
from 1st April to 30th November, 1854.
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152
MASSACHUSETTS-STONY BROOK.
Company. On the 25th of the same month a contract was entered into be-
tween the two companies, whereby the Housatonic Company took a perpe-
tual lease of the road, agreeing to equip, maintain and run the same, and
pay annually, as rent, the sum of $31,409, which is 7 per cent. on its cost.
The rent has been regularly paid. The earnings and expenses of the road
are embraced in those of the Housatonic Company, (which see.)
SHARE CAPITALAuthorized by charter, $550,000, in 5,500 $100 shares.
Subscribed and paid in, $448,700, in 4 487
"
FUNDED OR FLOATING DEBT-None.
COST OF ROAD AND EQUIPMENT-$448,700 : in detail, as follows-
Graduation and masonry
$154,263
Land, land-damages and fences
$70,000
Wooden bridges
8,489
Passenger and baggage cars
4,100
Superstructure, including iron
163,413
Engineering
8,000
Stations, buildings and fixtures
30,700
Agencies and other expenses
9,735
Assets or property held by Company in addition to road, etc., (23 shares Co.'s stock), $2,300.
STONY BROOK RAILROAD.
(Financial year ending 30th November, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
John Wright
Lowell, Mass.
B. F. Clarke
Lowell, Mass.
Sewall G. Mack
"
"
Wm. A. Burke
"
"
J. W. P. Abbott
"
"
Tappan Wentworth
"
"
TAPPAN WENTWORTH, President
Lowell, Mass.
J. B. WINSLOW, Superintendent.
Boston, "
LENGTH OF Road-Chelmsford to Groton Junction
13.16 miles.
The Stony Brook Railroad Company was chartered in 1845. The construc-
tion of its road was commenced in 1847, and completed on the 1st July,
1848. On the 30th March, 1848, the road was leased to the Nashua and
Lowell Railroad Company for a period of 12 years from the date of its
opening, at an annual rental of six per cent. on its cost; the lessee to run
and maintain the same, and to have the right to renew the lease on similar
terms for further period of 13 years, on giving twelve months' notice in
writing of such intention, which has been given, and the lease extended to
1st July, 1873. The average cost of the road since the date of the lease has
been about $266,000, and the average rent paid, about $16,000. The road has
been run by the Nashua and Lowell Railroad Company at a small loss.
SHARE CAPITAL-Authorized, $300,000, in $100 shares.
Paid in, - $267,300.
FUNDED OR FLOATING DEBT-None.
INCOME ACCOUNT FOR THE YEAR ENDING 30TH Nov., 1859.
Receipts-
Disbursements-
Passenger earnings
$21,699
Maintenance of way
$7,593
Freight
"
25,349
Repairs of rolling stock
8,203
U. S. Mail
"
900
Fuel-Coal 42 tons, and wood 1,101 cords 5,786
Express
"
720
Miscellaneous and salaries
15,104
Rents
70
Dividend, 6 per cent
16,038
Boston and Lowell RR. Co., per contract 4,292
Suplus not divided
306
Total
853,030
Total
$53,030
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MASSACHUSETTS-STOUGHTON BRANCII.
153
COST OF ROAD AND EQUIPMENT-$267,383 in detail as follows—
Graduation and masonry
$86,499
Land, land-damages and fences
$25,655
Superstructure, including iron
118,197
Engineering
8,250
Stations, buildings and fixtures
11,427
Agencies and other expenses
17,321
CosT, EARNINGS, EXPENSES, ETC., YEARLY.
Cost of
Mile-
Gross Earnings
Operating Earnings,
-Div.-
Yrs.
Road, etc.
age.
Pass'er.
Freight. Mails.
Total. expenses. less exp.
$
p.c
1849
$262,556
13.16
$
$13,041
12,741
6
1850
265,526
13.16
16,189
15,889
6
1851
265,762
13.16
16,236
16,014
6
1852
265,813
13.16
16,239
16,014
6
1853
266,184
13.16
16,314
16,014
6
1854
266,268
13.16
22,978
17,864
1,207
42,049
25,327
16,722
16,014
6
1855
266,782
13.16
22,585
18,782
904
42,271
26,459
15,812
16,026
6
1856
267,321
13.16
22,922
20,517
960
44,399
33,483
10,916
16,038
6
1857
267,364
13.16
39,647
40,370
2,984
83,001
58,520
24,481
16,038
6
1858
267,383
13.16
17.282
25,533
1,702
44,517
34,177
10,340
16,038
6
1859
267,383
13.16
21,700
25,349
5,981
53,030
36,687
16,343
16,038
6
11
yrs
$2,928,542
145.76
172,733
172.864
Aver
266,231
13.16
15,703
15,715
6
NOTE.-The earnings for 1857 embrace a period of 20 months. Previous to 1854, the gross
earnings and expenses are not given in the Reports of the Company, only the net earnings. The
dividends exceed slightly the net earnings. To the loss should be added $300, paid annually
toward the maintenance of the organization of the Stony Brook Railroad Company, in addition
to the rent of the road.
STOUGHTON BRANCH RAILROAD.
(Financial year ending 30th Nov., 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
F. W. Lincoln
Stoughton, Mass.
Martin ales
Stoughton, Mass.
Nathaniel Morton
"
"
Oakes Ames
Easton,
"
F. W. LINCOLN, President
Stoughton, Mass.
LENGTH OF RoAD-Canton Junction to Stoughton
4.04 miles.
Sidings, turnouts and other track, 0.53 mile.
The Stoughton Branch Railroad Company was chartered in 1844, and was
organized on the 28th May, same year. The work of construction was soon
afterwards commenced, and the road opened for business early in 1845. The
road has been operated and maintained since its opening by the Boston and
Providence Railroad Company, at an annual cost of about $4,000 the year,
which sum is embraced in the current expenses. The greater portion of the
balance of expenses is made up of charges on business sent over or received
from the Boston and Providence Railroad.
SHARE CAPITAL-Authorized, $85,400, in 854 $100 shares (all paid in.)
INCOME ACCOUNT FOR THE YEAR ENDING 30тп Nov., 1859.
Receipts-
Disbursemento-
Surplus from last year
$4,905
Maintenance of way
$84
Passenger earnings
19,457
Repairs of cars
340
Freight
16
11,308
Tolls on Boston and Providence Railroad 18,378
U.S. Mail, rents, etc
873
Rent for use of B. and P. RR
4,339
Miscellaneous
260
Dividends
6,405
Balance
6,737
Total
$36,543
Total
$36,543
20
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154
MASSACHUSETTS-TAUNTON BRANCH.
Cost OF ROAD-$99,478 (part paid from earnings), as follows:
Graduation and masonry
$38,402
Stations, buildings and fixtures
$12,333
Wooden bridges
1,770
Land, land-damages and fences
8,946
Superstructure, including iron
30,689
Cars, agencies and engineering
7,337
CosT, EARNINGS, EXPENSES, ETC., YEARLY.
Cost
Mile-
Gross Earnings
Operating
Net
Year.
of Road.
age.
Pass'gers.
Freight.
Mails,
etc.
Total.
Expenses.
Earnings.
$
P o.
1845
$88,418
4.04
$11,256
$8,268
$3,906
$23,430
$18,525
$4,905
$4,050
41
1846
93,969
4.04
14,121
11,184
900
26,205
21,470
4,735
2,700
3
1847
94,576
4.04
14,602
10,150
200
24,951
18,823
6,128
2,568
3
1848
96,111
4.04
11,860
10,442
1,397
23,699
17,619
6,080
4,270
5
1849
93,433
404
14,265
11,010
450
25,725
20,372
5,353
4,270
5
1850
93,433
4.04
14,794
9,888
175
24,857
18,712
6,145
4,270
5
1851
93,433
4.04
13,677
12,138
25,815
19,854
5,961
1,708
2
1852
93,433
4.04
14,500
12,551
114
27,165
19,247
7,918
5,124
6
1853
93,433
4.04
17,369
13,454
324
31,147
24,154
6,993
6,405
71
1854
93,433
4.04
17.690
12,482
429
30,601
21,929
8,672
6,832
8
1855
93,433
4.04
19,380
13,555
619
33,554
29,616
3,938
6,832
8
1856
94,353
404
17,518
14,150
339
32,007
24,588
7,419
6,832
8
1857
94,943
4.04
18,547
13,253
188
32,088
25,252
6,836
5,978
7
1858
99,393
404
16,219
12,661
948
29,828
23,079
6,749
5,551
61
1859
99,478
4.04
19,457
11,308
873
31,638
23,402
8,236
6,405
7t
s.81,415,271
60.60
235,355
176,494
10,862
422,710
326,642
96,068
73,795
Aver.
94,351
4.04
15,690
11,766
724
28,181
21,776
6,404
4,919
51
TAUNTON BRANCH RAILROAD.
(Financial year ending 30th Nov., 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
William Sturgis
Boston, Mass.
Thomas B. Wales
Boston, Mass.
N. H. Emmons
"
"
W.A. Crocker
Taunton, "
W. A. CROCKER, President
Taunton, Mass.
E. PICKERING, Treasurer
Boston,
"
A. E. SWASEY, Superintendent
Taunton,
"
PRINCIPAL OFFICE
TAUNTON, Bristol Co., Mass.
LENGTH OF RoAD-Taunton to Mansfield
11.10 miles.
Taunton River Branch
0.58
"
Second track, including sidings, 1.16 miles.
ROLLING STOCK-Locomotive Engines
7
Cars :-Passenger, 16; baggage, 7; merchandise, 137, and gravel, 3
163
-owned in common by the New Bedford and Taunton and the Taunton Branch Rail-
road Companies, in proportion to the lengths of their respective roads.
The Taunton Branch Railroad Company was incorporated on the 7th April,
1835, and authorized to construct a railroad from Taunton to Mansfield on
the Boston and Providence road. The construction of the road was com-
menced in 1835, and completed in August, 1836. On the 2d July, 1840,
the New Bedford and Taunton Railroad was completed and connected with
the Taunton Branch, and the two roads have since been operated under one
management and with the same rolling stock. Previous to this period the
Taunton Branch was operated by the Boston and Providence Company.
SHARE CAPITAL-Authorized and paid in, $250,000, in 2,500 $100 shares.
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MASSACHUSETTS-TAUNTON BRANCH.
155
FUNDED OR FLOATING DEBT-None.
COST OF ROAD AND EQUIPMENT-$313,156: in detail as follows—
Graduation and masonry
$89,855
Locomotives
less the proportion
16,384
Superstructure, including iron
92,249
Passenger cars
owned by N. B.
9,422
Stations, buildings and fixtures
47,056
Merchandise cars.
and T. Co
13,922
Land, land-damages and fences
30,729
Engineering
13,539
In 1859, $63,156 of the above amount was charged off for depreciation,
leaving $250,000 as the cost of the road and equipment. Assets and property
held by the Corporation, in addition to the cost of the road, etc., $61,407.
INCOME ACCOUNT FOR THE YEAR ENDING 30TH Nov., 1859.
Receipts—
Disbursemento-
Passenger earnings
$84,324
Maintenance of way, etc
$11,092
Freight
"
70,094
Repairs of rolling stock, etc
10,503
U.S. Mail
"
1,200
"
of stations, etc
1,392
Rents and interest
226
Wood and coal
7,502
Surplus income from 1858
44,386
Oil and waste
1,187
Taxes and insurance
1,084
Tolls to Boston and Providence Co
72,600
Rent to N. Bedford and Taunton Co
4,225
Salaries, wages, etc
19,580
Interest
60
Dividend 8 per cent
20,000
Surplus income
51,005
Total
$200,230
Total
$200,230
GENERAL LEDGER BALANCE SHEET, 1ST DEC., 1859.
Dr.
Cr.
Cost of road
$273,409
Share Capital
$250,000
" of equipment
39,747
Floating Debt
3,000
Assets
61,407
Depreciation
63,156
Surplus income
51,005
Profit and loss
9,412
Total
$325,568
Total
$325,568
COST, EARNINGS, EXPENSES, ETC., YEARLY.
Cost of
Mile-
Gross Earnings
Operating Earnings, -Div.-
Year.
Road, etc.
age.
Pass'er.
Freight. Mails, etc.
Total.
expenses.
less exp.
$
p.c.
1836
$239,925
1110
$16.177
$2,866
$
$19,043
$12,820
$6,223
nil.
nil.
1837
260,530
11.10
35,150
11,024
654
46,838
30,636
16,202
"
"
1838
259,874
11.10
32,861
12,876
2,999
48,736
34,966
13,770
12.500
5
1839
250,000
11.10
40,910
15,895
1,212
58,017
40,711
17,316
15,000
6
1840
250,000
11.10
44,901
15,930
14,646
75,477
44,661
30,816
15,000
6
1841
250,000
1110
52,278
22,443
2,204
76,925
55,043
21,882
18,750
7t
1842
250,000
11.10
55,711
18,963
2,496
77,170
57,777
19,393
20,000
8
1843
250,000
11.10
51,041
20,484
2,726
74,251
51,395
22,856
20,000
8
1844
250,000
11.10
65,349
28,920
2,417
96,686
70,336
26,350
20,000
8
1845
250,000
11.10
76,581
37,668
2,288
116,537
81,504
35,033
20,000
8
1846
293,448
11.68
81,316
38,943
2,809
123,068
101,146
21,922
20,000
8
1847
303,742
11.68
68,625
42,989
2,295
113,909
88,537
25,372
20,000
8
1848
305,085
11.68
64.018
42,091
1,992
108,101
90,486
17,615
20,000
8
1849
306,390
11.68
62,982
42,848
2,768
108,598
86.349
22,249
20,000
8
1850
307,136
11.68
66,265
46,093
2,108
114,466
87,654
26,812
20,000
8
1851
307,136
11.68
77,843
51,262
2,187
131,292
104,291
27,001
20,000
8
1852
307,136
11.68
84,648
51,163
1,590
137,401
113,002
24,399
20,000
8
1853
307,136
11.68
95,928
62,307
1,503
159,738
138,248
21,490
20,000
8
1854
307,136
11.68
101,736
67,412
2,662
171,810
139,561
32,249
20,000
8
1855
307,136
11.68
93,091
56,006
2,271
151.368
126,174
25,194
20,000
8
1856
313,156
11.68
98,023
65,056
1,295
164,374
136,600
27,774
20,000
8
1857
313,156
11.68
97,435
64,902
1,599
163,936
135,040
28,896
20,000
8
1858
313,156
11.68
76,465
56,277
1,442
134.184
112,701
21,483
20,000
8
1859
250,000
11.68
84,324
70,094
1.426
155,844
129,226
26,618
20,000
8
24 yrs
$6,750,278
274.52
1,623,668
944,612
59,589
2,627,869
2,063,864
559,005
421,250
Aver.
281,261
11.44
67,653
39,359
2,483
109,495
86,202
23,292
17,552
7
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156
MASSACHUSETTS-TROY AND GREENFIELD.
TROY AND GREENFIELD RAILROAD.
(Financial year ending 1st March, 1860.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
Alvah Crocker
Fitchburg, Mass.
Herman Haupt
Greenfield, Mass.
E. G. Lamsen
Shelburne Falls,
"
Roger H. Leavitt
Charlemont,
"
Henry L. Sabin
Williamstown,
"
Harvey Arnold
North Adams,
"
Lewis Rice
Boston,
"
James Cheever
Boston,
"
STATE DIRECTORS-George B. Upton and Silas Pearce, of Boston.
D. N. CARPENTER, President
Greenfield, Mass
WENDELL T. DAVIS, Treasurer
"
"
HERMAN HAUPT, Chief Engineer
"
"
PRINCIPAL OFFICE
GREENFIELD, Franklin Co., Mass.
LENGTH OF RoAD-Greenfield to N. Adams and State line of Vermont. 42.55 miles
(Completed)-N. Adams to State line of Vermont
7.00
"
ROLLING STOCK
Supplied by the Troy and Boston Company
The Troy and Greenfield Railroad Company was chartered on the 10th May,
1848, with authority to construct a railroad from Greenfield to the boundary
line of Vermont, there to connect with any railroad meeting it from the
Hudson River. The leading and most expensive feature of the work is a
tunnel under Hoosac Mountain, a high ridge between the valleys of the
Connecticut and Hudson Rivers. Towards the construction of the tunnel,
the State of Massachusetts, in 1854, authorized a loan of its credit to the
Troy and Greenfield Company, in its 5 per cent. sterling bonds, to the amount
of $2,000,000, on certain terms, which were modified in 1859, and again in
1860, when the following conditions were affixed: The undelivered portion
of the loan $1,770,000, to be divided into two parts, one of which, being
$1,120,000 to be issued on account of the works at the tunnel, and the
other, $650,000, on account of the railroad from Greenfield to a point one
mile east of the eastern entrance to the tunnel. The delivery of the bonds
on account of the tunnel are to be made monthly, and at the rate of $50 for
every lineal foot excavated. The delivery on account of the road is also to
be made monthly, and in the ratio that the work done bears to the whole
cost of the road. The road is to have no grades exceeding 40 feet in an
easterly and 50 feet in a westerly direction.
The work of construction was commenced in 1855. On the 1st April,
1859, the Western Division of 7 miles, from the base of the mountain to the
boundary line of Vermont, was opened for business. The tunnel had been
excavated 2,100 feet, of which 550 feet is at the western, and 1,550 at the
eastern entrance. It is to be four miles and one-half long, with a section
14 by 18 feet. The material is mica slate. The tunnel can only be worked
at either end on account of the height of the mountain above it.
The Troy and Greenfield Company has also purchased the Southern Ver-
mont Railroad for the sum of $200,000, the means for the same being fur-
nished by the State, in its 5 per cent. sterling bonds, payable in 30 years.
As security for the payment of these bonds, the State has received a mort-
gage of the Southern Vermont road, and also an assignment of a perpetual
lease of the same executed by the Troy and Boston Railroad Company,
which provides for an annual rental of $12,000. The excess of rent over the
interest on the State Loan is to go to a Sinking Fund for its redemption.
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MASSACHUSETTS-TROY AND GREENFIELD.
157
The stock and bonds of the Southern Vermont Railroad, the former amount-
ing to $50,000, and the latter to $150,000, have also been surrendered to the
State for its further security. That portion of the Troy and Greenfield
Railroad from the base of the mountains to the boundary line of Vermont
has been leased to the Troy and Boston Railroad Company till the com-
pletion of the tunnel at an annual rent of $8,000.
Upon the completion of the road from Greenfield to North Adams, a dis-
tance of 36 miles, a new line of railroad will be formed between Boston and
the Hudson River, made up of the following works:
Fitchburg
50 miles.
Southern Vermont
8 miles.
Vermont and Massachusetts
56 "
Troy and Boston
35 "
Troy and Greenfield
43 "
Total
192 "
This line will have no grades in an eastern direction exceeding 40 feet to
the mile.
SHARE CAPITAL-Authorized, $2,500,000, in 25,000 $100 shares.
Paid in, - 400,000 on 11,546 $100 shares.
Of the share capital, $175,600 were subscribed by several towns on the
route of the road viz. Adams, $60,000; Williamstown, $33,000; Green-
field, $30,000; Buekland, $12,800; Charlemont, $10,300; Heath, $7,300
Florida, $4,200, and Shelburne, $18,000.
FUNDED DEBT-$2,000,000 : in detail as follows-
The Funded debt of the Company consists at present of the State Bonds
issued on account of the tunnel which amounted, on the 1st March, 1860, to
$229,992. These are secured by a first mortgage on the tunnel and road,
and are payable in 20 years. The Company undertakes to pay the principal
and interest on the State Bonds as they severally mature. In case of failure
to pay the interest, as it may fall due, the same is to be deducted from the
next payment to the Company on account of work on the tunnel or road.
The Company have also issued second mortgage bonds, but these, it is
stated, are invalid and are to be surrendered and cancelled.
SINKING FUNDS.
The law authorizing the loan of the credit of the State to the Company
provides for a Sinking Fund based on the payment thereto of 10 per cent.
of the scrip issued. After the completion of the tunnel the Company is
required to pay to the fund $25,000 annually.
For the payment of the State bonds issued for the Southern Vermont
Railroad the excess of rent over the interest on the State bonds is to be paid
to a sinking fund.
FLOATING DEBT-Amount not stated.
COST OF ROAD AND TUNNEL TO 1ST MARCH, 1860-$647,520.
The contract price for the road and tunnel is $4,000,000.
The Company publishes no statement of its affairs, and no general balance
sheet can be given.
UNION RAILROAD.
(See Boston City Passenger Railroads-postea.)
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MASSACHUSETTS-VERMONT AND MASSACHUSETTS.
VERMONT AND MASSACHUSETTS RAILROAD.
(Financial year ending 30th November, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
John J. Swift
Boston, Mass.
James Cheever
Boston, Mass
D. N. Carpenter
"
"
Joseph Goodhue
Brattleboro, Vt.
THOMAS WHITTEMORE, President.
Cambridgeport, Mass.
JOHN ROGERS, Treasurer
Boston,
"
OTts T. RUGGLES, Superintendent
Fitchburg,
"
PRINCIPAL OFFICE
FITCHBURG, Worcester Co., Mass.
LENGTH OF RoAD-Main Line, Fitchburg, Mass., to Brattleboro, Vt
69.00 miles.
(In Mass., 584 miles; in Vermont, 104 miles.)
Branch Line, Grout's Corner to Greenfield
8.00 "
Total length of road owned by Company
77.00 miles.
Sidings and other track, excepting main and branch line, 5.50 miles.
ROLLING Srock-Locomotive engines
11
Cars :-Passenger, 8; baggage 5; merchandise, 171, and gravel, 16
200
The Vermont and Massachusetts Railroad Company is a consolidation of the
Vermont and Massachusetts, and the Greenfield and Fitchburg in Massa-
chusetts, and the Brattleboro and Fitchburg in Vermont.
The Vermont and Massachusetts Railroad Company of Massachusetts
was chartered on the 15th March, 1844, and authorized to build a railroad
from Fitchburg to the State line of Vermont or New Hampshire.
The Brattleboro and Fitchburg Railroad Company of Vermont was char-
tered in October, 1843, and authorized to build a railroad from Brattleboro
to the Massachusetts line, to meet any road from Fitchburg.
The Greenfield and Fitchburg Railroad Company of Massachusetts was
chartered on the 8th May, 1848, and authorized to construct a railroad from
the Vermont and Massachusetts Railroad in the town of Montague to the
town of Greenfield.
By subsequent legislation, the three companies were authorized to consoli-
date themselves into one company under the title of the Vermont and Mas-
sachusetts Railroad Company, which was effected on the 22d November,
1844. The construction of the road was commenced in 1845, and the sec-
tion from Fitchburg to Baldwinville, 21 miles, opened in September, 1847,
and operated by the Fitchburg Railroad Company, under an agreement to
continue till 1st January, 1849, to pay six per cent. on its cost. The section
from Baldwinville to Athol, 12 miles, was opened in January, 1848 to
Grout's Corner, 15 miles, in Dec., 1848, and to Brattleboro in Feb., 1850.
The Greenfield Branch, 8 miles, was opened in the latter part of 1850.
SHARE CAPITAL-Authorized, $3,200,000, in 32,000 $100 shares.
Subscribed, 2,880,100, in 28,801
"
Paid in, - 2,214,225
FUNDED Дввт-$1,003,880: described as follows-
1st Mortgage, 6 per cent., coupon bonds
$1,003,880
-dated 1st July, 1856, and payable, principal 1st July, 1865 interest semi-
annually, 1st Jan. and 1st July, at the office of the Company, in Boston.
The mortgage in this case provides for an issue of bonds to the amount of
$1,100,000. The amount at present outstanding will not probably be in-
creased. The bonds were issued to retire bonds falling due 1st Jan., 1856,
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MASSACHUSETTS-VERMONT AND MASSACHUSETTS.
159
to the amount of $1,000,000. Parties holding the old bonds were allowed a
premium of 5 per cent. on their conversion into the new. For the retire-
ment of these bonds a Sinking Fund was created by the annual payment
thereto of $10,000, which has been regularly made, and invested in the bonds
of the Company.
Cost OF ROAD AND EQUIPMENT-$3,516,866, in detail, as follows :
Graduation and masonry
$1,461,323
Locomotive engines
$95,639
Wooden bridges
199,395
Passenger and baggage cars
20,190
Superstructure, including iron
600,422
Merchandise and other cars
91,515
Stations, buildings and fixtures
129,274
Engineering
56,872
Land, land-damages and fences
181,219
Agencies and other expenses
100,271
Greenfield Branch
248,495
Interest, discounts, etc
332,250
INCOME ACCOUNT FOR THE YEAR ENDING 30TH Nov., 1859.
Receipts-
Disbursements-
Freight earnings
$126,714
Expenses of passenger Department
$11,369
Passenger earnings
65,133
"
freight
"
13,158
Rent of joint use of road from Fitchburg
Fuel
9,325
to Ashburnham, and of engine house,
Repairs of locomotives
14,087
water tanks, station buildings, station
"
cars
14,398
agents, including station work at
"
road, bridges and stations
27,662
Fitchburg and other stations
39,000
Renewals of iron
30,386
Expresses
3,353
General expenses
20,096
Rents
2,814
Surplus earnings
106,317
Tolls, (Northfield Bridge)
808
Mail
6,000
Miscellaneous
2,976
Total
$246,798
Total
$246,798
GENERAL LEDGER BALANCE SHEET, 1ST DEC, 1859.
Dr.
Cr.
Construction and equipment accounts
Capital stock, being the amount repre-
of the Main Road and Branch
$3,516,866
sented by 28,801 shares
$2,214,225
Machine-shop stock on hand
8,000
Mortgage Bonds, being the amount of
Fuel and material on hand
8,791
Bonds this date outstanding
1,003,880
Suspense account
3,347
Unpaid bills, (since paid)
6,356
Sinking fund (three instalments)
30,000
Balance of road income to Nov. 30, '58
369,473
Cash and cash funds
57,969
Road income for year ending Nov.
Balances due from connecting Roads
30, 1859
246,799
and on mail contract
17,857
Running expenses
140,481
Interest account
57,422
Total
$3,840,733
Total
$3,840,733
COST, EARNINGS, EXPENSES, ETC., YEARLY.
Cost of
Mile-
Gross Earnings
Operating Earnings,
-Div.-
Yrs.
Road, etc.
age.
Pass'er. Freight. Mails.
Total.
expenses. less exp.
$
p.c.
1847.
1,232,330
21.00
Operated by Fitchburg Co.
6,292
6,292
nil.
nil.
1848.
2,196,757
48.00
to January, 1849.
s
63,000
63,000
"
"
1849.
3,160,301
69 00
71,464
92,734
2,498
166,696
84,432
82,264
"
"
1850.
3,406,244
69.00
84,691
112,447
5,984
203,122
136,713
66,409
"
"
1851.
3,450,004
77.00*
73,881
86,090
20,647
180,613
100,141
80,477
"
4.
1852.
3,451,628
77.00
74,205
99,607
44,867
218,679
132,511
86,168
"
"
1853.
3,456,313
77.00
83,775
111,471
49,077
244,323
158,022
86,301
"
=
1854.
3,456,363
77.00
82,629
133,384
59,510
275,523
150,816
124,707
"
"
1855.
3,458,222
77.00
78,139
134,033
56,554
268,726
181,421
87,305
"
"
1856.
3,490,470
77.00
70,282
135,529
53,860
259,671
149,146
110,425
"
"
1857
3,516,808
77.00
69,486
124,188
53,797
247,471
151,944
95,527
"
"
1858.
3,516,660
77.00
60,554
110,336
54,189
225,079
120,042
105,037
44
"
1859.
3,516,866
77.00
65,133
126,714
54,951
246,798
140,481
106,317
"
"
13
rs.$41,380,966
900,00
814,239
1,266,533
455,934
2,605,998
1,505,669
1,100,329
"
66
Aver.
3,108,382
69.24
74,021
115,139
41,449
204,461
115,821
88,640
"
as
Eleven months' operations.
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160
MASSACHUSETTS-WESTERN.
WESTERN RAILROAD.
(Financial year ending 30th Norember, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
William H. Swift
Boston, Mass.
Jonathan Bourne, Jr New Bedford, Mass.
Josiah Stickney
"
"
E. R. Tinker
North Adams,
"
Robert Campbell
Pittsfield, "
Stephen A. Chase
Salem, "
Igantius Sargent
Boston;
"
George A. Shaw
Boston,
"
CHESTER W. CHAPIN, President
Springfield, Mass.
STEPHEN FAIRBANKS, Treasurer
Boston, "
HENRY GRAY, Superintendent
Springfield, "
PRINCIPAL OFFICE
BOSTON, Suffulk Co., Mass.
LENGTH OF RoAD-Worcester to New York State Line
117.81 miles.
Albany and West Stockbridge RR., State Line to Albany
38.22 "
Hudson and Boston RR., Chatham Four Corners to Hudson
17.33
"
Total length of road owned by Company
173.36 miles.
Length of second track on main line
97.17
"
Length of sidings and other track, excepting 1st and 2d tracks.
9.75
"
Leased Road-Pittsfield and North Adams Railroad
18.65 miles.
Length of sidings and other track
0.70
"
Total length of line operated by Company
192.01 miles.
ROLLING STocK-Locomotive engines
72
Cars: Passenger, 47 ; baggage, 12; merchandise, 1057 ; gravel, 80
1196
The Western Railroad Company of Massachusetts was chartered on the 15th
of February, 1833. The construction of the road, however, was not com-
menced till 1837. In that, and the two years following, the whole line was
placed under contract. The Eastern Division, 62.6 miles, from Worcester
to the Connecticut River, was opened on the 1st of Oct., 1839. The Western
Division, from the Connecticut River to Albany, was opened as follows-
from the boundary line of New York to Pittsfield, 4th May, 1841 from
Springfield to Chester Factories, 24th of May, 1841; from Pittsfield to the
Summit, 9th Aug., 1841, and from Chester Factories to the Summit, 13th
Sept., 1841. The trains first passed over the whole road 4th Oct., 1841.
The bridge across the Connecticut River was completed the 4th July, 1841.
That portion of the line lying within the State of New York, 38 miles,
was constructed under the charter of the Albany and West Stockbridge
Railroad Company of New York, granted in 1836. The construction of this
road was commenced in 1838, and the first division, from Albany to Chatham
Four Corners, was opened on the 24th Dec., 1840; the second, from
Chatham Four Corners to West Stockbridge, on the 12th Sept., 1842. In
the meantime, a portion of the line of the Hudson and Berkshire road was
used to form the through line to Albany. The road was constructed by the
Western Railroad Company, to which it is leased for a term of 50 years, the
period of its charter, and for any renewal of the same. Toward the con-
struction of this road the city of Albany subscribed $1,000,000 to its capi-
tal stock, paying for the same in its bonds. By the terms of the sub-
scription, the stock taken by the city, and which constitutes the entire share
capital of the Albany and West Stockbridge Company, is held by the city
as collateral security for its bonds. The Western Company agreed to pay
the principal and interest of these, and on their payment the road becomes its
property.-(See Albany and West Stockbridge Railroad Company.)
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MASSACHUSETTS-WESTERN.
161
On the 30th January, 1846, the Western Railroad Company took a lease
of the Pittsfield and North Adams Railroad for a period of 30 years from
the completion thereof, agreeing to pay, annually, as rent, six per cent. on its
cost. At the expiration of this period the Western Railroad Company to
have the right to elect whether it will become the purchaser of the road at
its cost, or will renew the lease for the further term of 99 years, paying, an-
nually, 5 per cent. on the cost of the road. It was opened for its whole
length on the 1st December, 1846. The cost of the road is about $450,000,
upon which dividends have been paid. Its net earnings have, as a general
rule, averaged a little less than the rent paid.-(See Pittsfield and N. Adams RR.)
On the 21st November, 1854, the Western Railroad Company became
purchasers, under a sale at auction by the Comptroller of the State of New
York, of the Hudson and Berkshire Railroad, extending from the city of
Hudson to the boundary line of Massachusetts, a distance of 31 miles. This
road now forms a part of the Western, and both are operated as one line.
Its location in another State requires the maintenance of a separate organi-
zation. Its cost to the Western Company has been $196,839. Since its
organization its name has been changed to that of the Hudson and Boston.
For the cost, earnings, expenses, etc., of this road, see Hudson and Boston, and
also Hudson and Berkshire Railroads of New York.
SHARE CAPITAL-Authorized by Charter, $6,500,000, in 65,000 $100 shares.
Subscribed, and paid in, 5,150,000, in 51,500
"
FUNDED Девт-$6,125,520: in detail as follows—
1st Mort., 5 per cent. Sterling Bonds of the State of Mass. (£899,900).$4,319,520
This class of bonds was issued and made payable at different dates as
follows :-$648,000, issued 1st April, 1838; $1,620,000, issued 1st Oct., 1838;
$432,000, issued 1st Oct., 1839 $864,000, issued 1st April, 1840, and $755,-
520, issued 1st April, 1841. The several issues are made payable in 30 years
from date, in London; interest payable half yearly from the dates of the re-
spective issues, at the same place. The bonds being issued for its benefit, the
Company undertook to pay the principal and interest of the same as they
severally matured.
Six per cent. Bonds of the City of Albany
$1,000,000
-issued to the Albany and West Stockbridge Railroad Company in pay-
ment for a subscription by the City to the share capital of the Company for
a like amount, and subscribed as follows :-$650,000 on the 30th of May,
1840, and $350,000 on the 1st day of August, 1841. They are payable in the
City of Boston, as follows :-$250,000 on the 1st of July, 1866; $300,000
on the 1st July, 1870; $200,000 on the 1st of July, 1871, and $250,000 on
the 1st of July, 1876; interest payable semi-annually on the 1st of January
and 1st July, at the office of the Western Company in Boston. By the
terms of the lease of this road to the Western Company, the latter undertook
the payment of the principal and interest of these Bonds as they matured.
On their payment, the stock held by the City of Albany as security for the
payment of its bonds, and which constitutes the entire stock of the Albany
and West Stockbridge Railroad, becomes the property of the Western Rail-
road Company.
Six per cent. coupon bonds
$656,000
-issued 1st Oct., 1855, and payable, principal 1st Oct., 1875, and interest
semi-annually, 1st April and 1st October, in Boston. The Company has
authority to issue bonds of this class to the amount of $1,500,000.
21
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162
MASSACHUSETTS-WESTERN.
Hudson and Boston Railroad Loan, at 6 per cent
$150,000
The Western Railroad Company, being sole owner of the Hudson and
Boston Railroad, borrowed of its own Sinking Fund, on account of this road,
and secured by a mortgage of the same, the sum of $250,000, of which
$100,000 was paid on the 1st April, 1859. The loan was made on the 22d
June, 1857, and is payable on demand.
SINKING FUNDS.
For the retirement of the State Bonds, a Sinking Fund was created by
the payment thereto of the premium on the sale of the same, which
amounted to $146,467, and by the annual payment thereto of one per cent.
on their amount estimated at $4,000,000, which was to commence after the
road was fully opened, and which has been regularly made to the present
time. The value of this fund on the 30th November, 1859, was $1,490,396,
(exclusive of the Albany Sinking Fund,) which is invested at 6 per cent.
interest.
For the retirement of the City of Albany Bonds, a Sinking Fund was cre-
ated by the payment thereto of a sum equal to 10 per cent. of the amount of
the City Scrip, and by the annual payment thereto of one per cent. on their
amount, to commence after the completion of the road, and which has been
regularly made. The value of this fund on the 30th of November, 1859 was
$621,013, invested at 6 per cent.
COST OF ROAD AND EQUIPMENT-$11,030,279 in detail as follows—
A. & W.S.
Western RR.
Hud. & Bost.,
Railroad.
and W.S. RR. Stk.
Total cost.
Graduation and masonry
$3,491,365
Bridging
231,996
}
$1,019,988
$4,743,350
Superstructure, including iron
1,635,358
634,943
2,320,302
Station buildings and fixtures
450,700
294,983
745,682
Land, land damages and fencing
298,201
207,478
505,679
Locomotives
432,000
432,000
Passenger and baggage cars
73,545
73,545
Merchandise cars
590,168
590,168
Engineering and other expenses.
1,190,548
232,167
1,422,714
Total cost of H. and B. RR
183,839
183,839
Total cost of W. 3. RR. Stock
13,000
13,000
Totals
$8,443,881
$2,389,559
$196,839
$11,030,279
With the exception of the proceeds of the Albany City Bonds, the West-
ern Company has advanced the entire cost of the Albany and West Stock-
bridge Railroad.-(See Albany and West Stockbridge Railroad of New York.)
INCOME ACCOUNT FOR THE YEAR ENDING 30TH NOVEMBER, 1859.
Receipts-
Disbursements
Passenger earnings
$679,121
Transportation expenses.
$417,894
Freight
"
986,305
Repairs of roadway
269,334
Mails
"
101,642
"
of engines
65,589
"
of cars
89,313
"
of buildings, ferry, etc
42,282
New cars and engines to cover depre-
ciation
33,000
General expenses
19,507
Interest on State loans and exchanges.
350,179
One per cent. to Sinking Funds
50,000
Eight per cent. dividends.
412,000
Loss on Pittsfield & N. Adams RR
1,872
Surplus from 30th Nov., 1858
305,747
Surplus 30th Nov., 1859
321,844
Total
$2,072,815
Total
$2,072,815
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MASSACHUSETTS-WEST STOCKBRIDGE.
163
GENERAL LEDGER BALANCE SHEET, 1sT DECEMBER, 1859.
Dr.
Cr.
Cost of road and equipment
$11,030,279
Capital stock
$5,150,000
Notes receivable
19,795
£899,900 Sterling Bonds
4,319,520
Hudson River Bridge Stock
15,120
Albany City
1,000,000
Materials
369,224
Hudson and Boston Railroad Loan
150,000
Cash
75,179
Dollar Bonds
656,000
Ledger balances due from individuals
Bills payable
208,725
and corporations
133,470
Unclaimed dividends and interest
4,769
Commissioners of MassachusettsSink-
Dividend No. 31
206,000
ing Fund
1,490,396
Interest accrued, not due
67,556
Trustees of Albany Sinking Fund
621,013
Ledger balances due individuals and
corporations
18,230
Accumulated Sinking Fund profits
1,651,831
Contingent Fund
321.844
Total
$13,754,476
Total
$13,754,476
COST, EARNINGS, EXPENSES, ETc., YEARLY.
Cost of
Mile-
Gross Earnings
Operating
Earnings,
Div.
Yr. Road, etc.
age.
Pass'er.
Freight.
Mails.
Total.
expenses.
less exp.
$
p.c.
'39 $1,500,000
54.57
$13,472
$4,136
$17,609*
$14,380
$3,228
nil.
nil.
'40. 2,016,969+
77.61
70,821
38,359
3,167
112,347
62,071
50,276
"
"
'41. 5,235,026
120.16
113,842
64,467
4,000
182,309
132,502
49,807
"
"
'42. 7,087,190
156.03
266,447
226,675
19,566
512,698
266,619
246,069
"
"
'43. 7,501,204
156.03
275,139
275,696
23,047
573,882
303,973
269,909
"
"
'44- 7,686,202
156.03
358,694
371,131
23,927
753,752
314,074
439,678
80,212
3
'45- 7,741,754
156.03
366,753
420,717
26,010
813,480
370,621
442,859
90,000
2
'46- 8,185,788
156.03
389,861
459,365
29,191
878,417
412,679
465,738
204,000
6
'47. 8,769,474
156.03
502,322
785,346
37,668
1,325,336
676,689
648,647
320,000
8
'48. 9,900,153
156.03
551,038
745,910
35,120
1,335,068
652,357
679,711
366,000
8
'49. 9,926,951
156.03
561,575
745,394
36,841
1,343,810
588,323
755,488
412,000
8
'50. 9,963,708
156.03
590,743
747,521
31,249
1,369,513
607,549
761,964
412,000
8
'51. 9,953,758
156.03
603,207
714,363
36,324
1,353,894
597,756
756,138
412,000
8
'52. 9,953,758
156.03
615,481
685,063
39,329
1,339,873
656,677
683,196
334,750
61
'53. 9,953,258
156.03
693,290
786,216
45,717
1,525,223
778,487
746,736
360,500
7
-54. 9,953,258
156.03
756,503
924,973
82,468
1,763,944
1,045,241
718,703
360,000
7
'55.10.495,504
173.36
763,037
1,007,993
87,831
1,858,861
1,236,659
622,202
360,000
7
'56.10,495,504
173.36
812,880
1,207,788
95,151
2,115,829
1,228,229
887,600
386,250
71
'57.10,778,281
173.36
803,977
1,007,186
94,179
1,910,342
1,084,118
826,224
412,000
8
'58.10,881,281
173.36
637,042
968,516
94,735
1,700,293
890,930
809,363
412,000
8
'59.11,030,279
173.36
679,121
986,305
101,642
1,767,068
936,920
830,148
412,000
8
179,009,300
3,147.53
10,430,245
13,173,130
947,162
24,550,537
12,856,854
11,693,683
5,333,712
Av. 8,524,252
149.83
496,678
627,292
45,103
1,169,073
612,231
556,842
253,986
51
WEST STOCKBRIDGE RAILROAD.
(Financial year ending 30th November, 1859.)
GEORGE H. POWER, President
Hudson City, N.Y.
LINE OF Road-West Stockbridge to New York State Line
2.75 miles.
The West Stockbridge Railroad Company was chartered in 1831. The road
was constructed in 1838, under the direction, chiefly, of the Hudson and
Berkshire Railroad Company of New York, as a connecting link between
that Road and the Western and Berkshire Railroads. In 1844, a contract
was made between this Company and the Hudson and Berkshire and Hou-
satonic Railroad Companies, whereby its road was to be maintained, and by
the two latter Companies at certain rates of compensation. Under this
# Income account for about three months. + Cost of section between Springfield and Worces-
ter only. $ Cost of road from Worcester and State Line of New York. ( Cost of whole line from
Worcester to Albany from and after 1842. II Including Hudson and Boston Railroad.
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164
MASSACHUSETTS -WORCESTER AND NASHUA.
agreement the net earnings of the West Stockbridge Railroad have averaged
about $1,782 annually. The cost of the road is represented entirely by stock.
Its equipment is supplied by the connecting roads. It was originally con-
structed with a flat bar, but in 1846 was relaid with a heavy rail by the
Housatonic Railroad Company.
SHARE CAPITAL-Authorized, $40,000. Paid in, $39,600.
CosT, EARNINGS, EXPENSES, ETC., YEARLY.
Cost of
Earn-
Ex-
-Div.-
Cost of
Earn-
Ex-
Div
Yrs.
road.
ings.
penses.
$
p.o.
Yrs.
road.
ings.
penses.
$
pe.
1840
$41,516
$
$
nil.
nil.
1850
$41,516
$1,824
$26
1,782
41
1841
41,516
"
"
1851
41,516
1,762
21
1,782
41
1842
41,516
"
"
1852
41,516
1,827
22
1,782
41
1843
41,516
"
"
1853
41,516
1,827
22
1,782
41
1844
41,516
1,782
41
1854
41,516
1,827
21
1,792
41
1845
41,516
2,311
448
1,782
41
1855
41,600
1,827
35
1,782
41
1846
41,516
1,822
52
1,880
5
1856
39,600.
1,827
21
1,782
41
1847
41,516
1,853
120
1,782
41
1857
39,600
1,937
20
1,782
41
1848
41,516
1,963
60
1,782
41
1858
39,600
1,676
21
1,782
41
1849
41,516
1,800
45
2,358
6
1859
39,600
1,914
21
1,782
4t
10 yrs
$415,160
9,749
725
11,366
29
10 yrs
$407,580
18,248
230
17,820
Aver
41,516
1,949
145
1,894
4.8
Aver
40,758
1,824
23
1,782
41
WEST CAMBRIDGE RAILROAD.
(See Boston City Passenger Railroads, postea.
WEST ROXBURY RAILROAD
(See Boston City Passenger Railroads, postea.)
WORCESTER AND NASHUA RAILROAD.
(Financial year ending 30th Nov., 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
Stephen Salisbury
Worcester, Mass.
A. E. Hildreth
Groton, Mass.
F. H. Kinnicutt
"
"
Thomas Chase
Nashua, N.H.
Francis H. Dewey
"
"
Jacob Fisher
Lancaster, Mass.
Seth W. Fowle
Boston,
"
GEORGE T. RICE, President
Worcester, Mass.
T. W. HAMMOND, Treasurer and Secretary
"
"
GEORGE W. BENTLEY, Superintendent.
"
"
PRINCIPAL OFFICE
W ORCESTER, Worcester Co., Mass.
LENGTH OF Road-Worcester to N. Hamp. State Line
39.12 miles
State Line to Nashua, New Hampshire. 6.57
"
}
45.67 miles.
Second track, 0.76, and sidings, etc., 8.01 miles
8.77
"
Total equivalent single track
54.44 miles.
ROLLING STOCK-Locomotive engines
10
Cars :-Passenger, 8; baggage, 4; merchandise, 121, and gravel, 20
153
The Worcester and Nashua Railroad Company is a consolidation of the Wor-
cester and Nashua of Massachusetts and the Nashua and Groton of New
Hampshire.
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MASSACHUSETTS-WORCESTER AND NASHUA.
105
The Worcester and Nashua Railroad Company of Massachusetts was
chartered in 1845, with authority to unite with the Nashua and Groton Rail-
road Company of New Hampshire, and with authority to purchase the Wor-
cester Branch Railroad. The Nashua and Groton Railroad Company of
New Hampshire was chartered in 1844, with authority to construct a rail-
road from Nashua to the boundary line of Massachusetts, there to connect
with any line of railroad constructed to connect with it. Both charters con-
tained provisions for the consolidation of the two companies, which was
effected on the 6th November, 1846, under the name of the Massachusetts
Company. The work of construction on the portion of the line lying in
Massachusetts was commenced in 1846, and the road opened for its whole
length on the 18th December, 1848. In 1847 the Worcester Branch was
purchased.
SHARE CAPITAL-Authorized, $2,100,000.
Paid in, - 1,140,000.
The first subscriptions to the Capital Stock amounted to $754,600, in $100
shares. Of this amount $250,000 were subscribed by the Norwich and
Worcester Railroad Company, on which $100,000 was paid, and the sub-
scription abandoned, reducing the Share Capital to $504,600. In July, 1848,
an issue of stock was made at 50 per cent. of its par value, the privilege of
subscribing to the same being first given to the old stockholders. Of this
class 7,654 shares were subscribed, producing $382,700. In 1851 an act was
obtained authorizing an issue of Preferred Stock upon the following condi-
tions parties holding old shares, on the payment of $100, and upon the
surrender of five shares, were entitled to receive six shares of a six per cent.
Preferred Stock. Under this act all the old shares, (with the exception of 15,
which were subsequently purchased by the Company and cancelled), were
converted into Preferred. The new shares issued were 2,537, producing
$253,700. The whole Share Capital now outstanding is of one class.
FUNDED DEBT-$150,000: in detail as follows—
1st Mortgage, per cent. coupon bonds
$150,000
-dated 1st November, 1859, and payable in 1, 2, 3, 4, 5 and 6 years; inter-
est payable on the 1st May and 1st Nov., at the Company's office. These
bonds were issued to retire an equal amount of bonds falling due on the 1st
May, 1860, and have been sold at par. The whole of old bonds falling due
on the 1st May is $194,500, of which $44,500 are to be paid from the earn-
ings of the road.
FLOATING DEBT-None.
INCOME ACCOUNT FOR THE YEAR ENDING 30TH Nov., 1859.
Receipts
Disbursemento-
Passenger earnings
$96,732
Fuel, oil, waste, etc.
$22,462
Freight
"
111,923
Maintenance of road
29,378
Mail
"
4,625
Repairs of rolling stock
20,011
Express
"
1,800
"
of bridges, stations, etc
5,979
Rents
1 364
Taxes and insurance
1,397
Passenger expenses
12,623
Freight
"
15,725
General
"
14,625
Interest
10,654
Dividends, Jan. and July
60,888
Surplus earnings
22,702
Total
$216,444
Total
$216,444
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166
MASSACHUSETTS-WORCESTER BRANCH.
Cost OF ROAD AND EQUIPMENT-$1,328,898 in detail as follows—
Graduation and masonry
$464,710
Locomotive engines
$62,853
Wooden bridges
12,364
Passenger and baggage cars
17,613
Superstructure, including iron
414,373
Merchandise cars
60,496
Stations, buildings and fixtures
79,468
Engineering
31,063
Land, land-damages and fences
185,541
Agencies and other expenses
417
GENERAL LEDGER BALANCE SHEET, 1ST Dec., 1859.
Dr.
Cr.
Cost of road
$1,187,837
Share capital
$1,141,000
"
equipment
140,961
Funded debt
194,500
Cash
51,795
Unclaimed dividends
862
Bills receivable
275
Dividends due January, 1860
30,444
Wood lots, $6,152; lumber, $2,565
8,717
Reserved income
67,047
Sundry accounts
7,029
Materials on hand
37,138
Total
$1,433,853
Total
$1,433,853
COST, EARNINGS, EXPENSES, ETC., YEARLY.
Cost
Mile-
Gross Earnings
Operating
Net
Div
Year.
of Road.
age. Pass'gers.
Freight. Mails, etc. Total.
Expenses.
Earnings.
$
P c.
1849.
$1,361,527
45.67
$70,007
$34,154
$3,964
$108,125
$66,006
$42,119
nil.
nil.
1850.
1,410,197
45.67
86,217
52,627
5,594
144,438
75,064
69,374
28,521
21
1851.
1,309,564
45 67
85,208
63,943
4,640
153,791
76,961
76,830
56,331
41
1852.
1,321,945
45 67
88,435
69,704
3,970
162,109
82,995
79,114
66,325
41
1853.
1,342,593
25.67
99,789
79,149
3,460
182,398
90,592
91,806
76,039
5
1854.
1,394,703
45.67
107,333
95,958
5,828
209,119
114,729
94,390
34,249
21
1855.
1,351,271
45.67
103,109
94,437
7,234
204,780
116,902
87,878
30,444
2
1856.
1,351,271
45.67
107,758
103,860
5,269
216,887
121,702
95,185
60,888
4
1857.
1,375,863
45.67
106,047
94,180
7,101
207,328
125,598
81.730
60,888
4
1858.
1,328,897
45.67
85,511
92,043
7,573
185,127
101,278
83,849
60,888
4
1859.
1,328,897
45.67
96,732
111,923
7,789
216,444
122,200
94,244
60,888
4
11
ys.
$14,882,728
502.37
1,036,146
891,978
62,422
1,990,546
1,094,027
896,519
535,461
Aver.
1,352,975
45.67
94,195
81,089
5,674
180,958
99,457
81,501
48,678
3.3
WALTHAM AND WATERTOWN RAILROAD.
WEST CAMBRIDGE RAILROAD.
WEST ROXBURY RAILROAD.
(See Boston City Passenger Railroads, postea.)
WORCESTER BRANCH RAILROAD.
(Now a portion of the Worcester and Nashua Railroad.)
This was a local road (0.55 miles long) chartered in 1838 and constructed
in 1844. In 1847 it was purchased by the Worcester and Nashua Railroad
Company for $7,142, and now forms the connecting link between the road of
this Company and the Western Railroad.
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MASSACHUSETTS-BROADWAY HORSE.
167
BOSTON CITY PASSENGER RAILROADS.
(Financial year ending 30th November, 1859.)
BOSTON AND CHELSEA RAILROAD.
DIRECTORS, 1859-60-William W. Wheildon, G. H. Hubbard, J. W. Emery, Estes
Howe, Joseph H. Converse.
LENGTH OF RoAD-Main Line, 11,491 feet ; second track, 3,687 feet. Sidings, 862 ft.
EQUIPMENT
Furnished by the Malden and Melrose Company.
Chartered 29th April, 1854; completed 20th November, 1858. Leased
to and operated by the Malden and Melrose Company, which pays for the
use of the road 8 per cent. per annum on its cost.
SHARE CAPITAL-Authorized, $300,000, in 3,000 $100 shares.
Paid in, - $140,000, in 1,400 $100 shares.
COST OF ROAD, ETC.-$140,000. Built by contract for this gross amount.
BROADWAY HORSE RAILROAD.
DIRECTORS, 1859-60-Seth Adams, S. G. Howe, Henry Souther, D. L. Bradford,
G. H. Everson.
LENGTH OF RoAD-Main Line, 13,546 feet ; second track, 6,836 ; sidings, 550 feet.
EQUIPMENT-Furnished by Lessees: 12 cars, with horses, etc., which cost $34,450.
Chartered 29th April, 1854 completed in March, 1859. Leased to and
operated by J.C. Gipson & Co., who pay for the use of the road 8 per cent.
per annum on its cost.
SHARE CAPITAL-Authorized, $150,000, in 1,500 $100 shares.
Paid in, - $53,600, on 600
"
FUNDED DEBT
None. FLOATING DEBT
None.
COST OF ROAD AND APPURTENANCES-$53,403, viz. : payments to contractors,
$46,672, and general expenses during construction, $6,731
OPERATIONS FOR THE YEAR-Trips made by cars, 48,048 ; miles run by cars,
192,192; passengers carried, 1,003,285.
LESSEE'S ACCOUNT FOR THE YEAR ENDING 30TH NOVEMBER, 1859.
Receipts-
Disbursements-
Passenger earnings
$50,055
Roadway expenses
$500
Mail
"
40
Equipment expenses
2,575
Sales of manure
600
Wages to employees
16,590
Receipts from other sources
4,200
Taxes and insurance
516
Provender for horses
15,250
Miscellaneous expenses
550
Loss on horses
4,300
Incidentals and salaries
6,500
All other expenses
500
Charged to depreciation
7,400
Earnings less expenses
214
Total
$54,895
Total
$54,895
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168
MASSACHUSETTS-DORCHESTER.
CAMBRIDGE RAILROAD.
DIRECTORS, 1859-60-Gardiner G. Hubbard, W. A. Saunders, Estes Howe.
LENGTH OF Rosd-Main Line, 25,355 feet ; 2d track, 18,403 feet.
Branch Line, 31,511 feet ; 2d track, none.
-
sidings, 4,646 ft.
EQUIPMENT
Supplied by the Union Company.
Chartered, 25th May, 1853 ; construction comm nced 1st September, 1855,
and completed 26th March, 1856. Leased for 50 years from the date of
charter to Union Company, which pays as rent therefor nine per cent. per
annum on the share capital, the interest on the company's debt, and two per
cent. per annum on the mortgage debt as a sinking fund for its redemption,
and equips, operates and repairs the road. This was the first city passenger
railroad in Boston.
SHARE CAPITAL-Authorized and paid in, $300,000, in 3,000 $100 shares.
Paid in cash, $6,000, and in work and materials, $294,400
FUNDED Девт-$174,600: classified as follows:-
1st Mortgage, 6 per cent., sinking fund, coupon bonds
$150,000
-dated 1st January, 1856, and payable, principal 1st January, 1881, and
coupons semi-annually, 1st January and 1st July, in Boston.
Unsecured per cent. bonds
$24,600
COST OF ROAD AND APPURTENANCES-$481,377: original work by contract,
$464,600, and additional work, $16,777.
DORCHESTER RAILROAD.
DIRECTORS, 1859-'60-Edward King, W. R. Clark, John J. May, and Wm. Hendry.
LENGTH OF ROAD-Main Line 25,200 feet. Sidings, etc., 1,530 feet.
EQUIPMENT
Supplied by Lessees.
Chartered 29th April, 1855. Purchased the corporate property of the
Dorchester Avenue Railroad Company in January, 1858. Leased to Gore,
Rose & Co., who purchased the equipment and have operated the road since
June 1, 1858, paying for the use thereof a rent equal to eight per cent. per
annum on the share capital, and also taxes and insurance. The Dorchester
Avenue Company was chartered 29th April, 1854, and completed its road
in the spring of 1857.
SHARE CAPITAL-Authorized, $300,000, in 3000 $100 shares.
Paid in, $87,900 : in cash, $77,165, and work and materials, $10,735
COST OF ROAD AND APPURTENANCES-$132,024, viz.: $118,150, being the ori
ginal cost to the Dorchester Avenue Company, and $13,874, being
the cost of land and buildings since acquired.
INCOME ACCOUNT FOR THE YEAR ENDING 30TH NOVEMBER, 1859.
Receipts-
Disbursements-
Rent from lessees
$5,808
Salaries, etc
8884
Mails
19
Dividend, 7f per cent
5,445
Other sources, materials, lots, etc
2,745
Undivided urplus
2,45
Surplus from 1857-'58
216
Total
$8,786
Total
$8,786
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MASSACHUSETTS-MALDEN AND MELROSE.
169
DORCHESTER EXTENSION RAILROAD.
DIRECTORS, 1859-'60-Cheever Newhall and Stanley Gore.
LENGTH OF Road-Main Line, 7,280 feet. Sidings, etc., 228 feet.
EQUIPMENT
Supplied by Lessees.
Chartered, 18th February, 1855. Leased to Gore, Rose & Co., who pay
as rent therefor a sum equal to eight per cent. per annum on the cost.
SAARE CAPITAL-Authorized, $50,000, in 500 $100 shares. Paid in, $12,000.
FUNDED DEBT
None. FLOATING DEBT
$233
COST OF ROAD AND APPURTENANCES-$12,000; built by contract.
MALDEN AND MELROSE RAILROAD.
DIRECTORS, 1859-'60-Win. J. Ea.nes, Moses M. Rice, A. G. Peck, E. F. Hodges, A.
E. Johonnot, W. A. Saunders, R. E. Demmon.
LENGTH OF Road-Main Line, 18,006 feet. Sidings, etc., 460 feet.
EQUIPMENT-Cass, 58 ; horses, 474 ; viz. : on M. & M. RR., 31 cars and 260 horses ;
on B. & C. RR., 6 cars and 72 horses ; on Mid. RR., 21 cars and 142 horses. Also,
numerous omnibusses, sleighs, snow-plows, etc.
Chartered, 6th June, 1856; completed, 19th July, 1858. The company
commenced business on the 1st April, 1858, leasing the Middlesex and the
Boston and Chelsea Railroads (which see).
SHARE CAPITAL-Authorized, $200,000, in 2,000 $100 shares.
Paid in, - $200,000 on 2,000 $100 shares.
-in cash $165,000, and in work and materials $35,000.
FUNDED DEBT-$20,526, viz. 1st mortgage bonds, $14,200, and three real
estate bonds for small sums.
FLOATING DEBT-$46,700.
COST OF ROAD AND EQUIPMENT-$269,562-namely : Road (as per contract),
$57,680, and equipment (including that for the leased roads), $211,882.
OPERATIONS FOR THE YEAR 1858-9-Trips by cars, 92,630; miles run by cars
478,778; passengers carried, 2,429,512.
INCOME ACCOUNT FOR THE YEAR ENDING 30TH NOVEMBER, 1859.
Receipts-
Disbursements-
Passenger earnings
$135,154
Roadway
$2,753
Sales of manure
1,161
Equipment
4,368
Receipts from other sources
1,224
Real estate repairs
254
Surplus from 1857-'58
1.085
Wages to employees
48,094
Interest and coupons
3,634
Taxes and insurance
1,322
Rent to other companies
27,341
Provender for horses
28,186
Loss on horses
2,207
Incidentals
8,287
All other expenses
2,516
Dividend, 31 per cent
7,000
Undivided surplus
2,662
Total
$138,624
Total
$138,624
22
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170
MASSACHUSETTS-MIDDLESEX.
GENERAL STATEMENT 1ST DECEMBER, 1859.
1
Dr.
Cr.
Cost of Road
$57,680
Share capital
$200,000
Cost of equipment
211,882
Mortgage bonds
14,200
Two real estate bonds
1,826
Real estate bond
4,500
Floating Debt
46,700
Profit and Loss
3,336
Total
$269,562
Total
$269,562
METROPOLITAN RAILROAD.
DIRECTORS, 1859-60-S. M. Weld, Henry N. Hooper, George W. Warren, John
Flint, W. J. Reynolds, A. G. Greeley, Thomas Upham, Edward D. Peters.
LENGTH OF Road-Main Line, 17,535 feet; 2d track, 9,557 feet.
Branch Line, 36,747 ft.; 2d track, 10,634 "
Sidings, 2,585 feet.
EQUIPMENT-Cars, 63; horses, 590.
Chartered 21st May, 1854; completed, 1st Dec., 1856. The franchise
and property of the Brookline Railroad Company were purchased by the
Metropolitan Company in 1859. This Company also operates the West
Roxbury Railroad.
SHARE CAPITAL-Authorized $800,000, in 8,000 $100 shs. Paid in, $470,000.
FUNDED DEBT
$55,645. I FLOATING DEBT
$46,846.
Cost OF Road-$545,187 : in detail as follows—
Graduation and track laying
$33,518
Cars
$49,888
Timber for foundation
22,798
Horses
70,706
Rails, chairs, spikes, etc
111,683
Omnibuses, sleighs, etc
37,433
Pavements
48,305
Snow-plows, harness, etc
18,898
Engineering
6,251
Land and buildings
24,030
Miscellaneous
85,785
Stables, etc., on land not owned
35,892
INCOME ACCOUNT FOR THE YEAR ENDING 10TH NOVEMBER, 1859.
Receipts-
Disbursements-
Passenger earnings
$302,165
Roadway
$4,048
Mail
"
278
Rolling stock
15,582
Sales of manure
2,830
Stables, offices, etc
192
All other sources
1,170
Wages
110,627
Surplus from 1857-'58
34,389
Interest, taxes and insurance
5,927
Rent to other roads
3,252
Provender
75,211
Sundry
833
Loss on horses
11,799
Salaries and incidentals
25,901
Depreciation of live stock
10,000
Surplus income
35,458
Dividend, 10 per cent
45,000
Total
$340,832
Total
$340,832
MIDDLESEX RAILROAD.
DIRECTORS-J. H. Blake, A. Fisk, F. Darracott, E. F. Hodges and G. W. Palmer.
LENGTH OF Rosp-Main Line, 18,417 feet second track, 10,119 feet.
Branch Line-Somerville Branch, 2,276 feet. Bunker Hill Br'ch, 5,633 feet.
Switches, sidings, turnouts, and other tracks on main and branch lines, 634 ft.
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MASSACHUSETTS-SOMERVILLE HORSE.
171
EQUIPMENT
Supplied by the Malden and Melrose Company
Chartered 29th April, 1854 ; completed in 1857. The road is operated
under lease by the Malden and Melrose Company, which pays as rent four
per cent., semi-annually, on its cost, and all expenses of repairs, etc.
SHARE CAPITAL-Authorized, $400,000, in 4,000 $100 shares.
Paid in - $295,100, on 3,000
"
"
FUNDED DEBT
None. I FLOATING DEBT
None.
CosT OF ROAD AND APPURTENANCES-$295,100. No detail-the road hav-
ing been constructed under contract for this amount in gross.
INCOME ACCOUNT FOR THE YEAR ENDING 30TH NOVEMBER, 1859
Receipts-
Disbursements-
Rent from lessee
$24,146
Expenses
$538
Dividends, 8 per cent
23,608
Total
$24,146
Total
$24,146
NEWTON RAILROAD.
DIRECTORS, 1859-60-W. C. Strong, G. Fuller, I. Pratt, jr., and S. L. Plummer.
LENGTH OF ROAD-Main Line, 2.87 miles. Sidings, etc., 0.13 mile.
EQUIPMENT
Supplied by Lessee.
Chartered 30th May, 1857 ; completed 15th November, 1858. Leased to
a private company who operates and equips the road and pay as rent there-
or 6 per cent. on the cost.
SHARE CAPITAL-Authorized, $150,000. Paid in, $26,000.
COST OF ROAD AND EQUIPMENT-$25,941 : in detail as follows
Graduation and foundation
$9,950
Engineering
$1,084
Alterations, etc
2,233
Interest, etc
664
Rails, spikes, chairs, etc
9,509
Land, stables, etc
2,500
OPERATIONS, 1858-9-Miles run by cars, 47,233 ; trips made, 7,991 ; pas-
sengers carried, 290,420.
SOMERVILLE HORSE RAILROAD.
DIRECTORS, 1859-60-George O. Brastow, G. T. King, Enoch Robinson.
LENGTH OF RoAD-Main Line, 20,516 feet. Sidings, switches, etc., 898 feet.
EQUIPMENT AND CARS
Furnished by the Malden and Melrose Company.
Chartered 26th May, 1857 ; completed 10th July, 1858.
SHARE CAPITAL-Authorized, $100,000, in 1,000 $100 shares.
Paid in, - $68,000, on 680
"
FUNDED DEBT
None.
FLOATING DEBT
COST OF ROAD AND EQUIPMENT-$67,870 : in detail as follows—
Road and superstructure
$59,500
Omnibuses, sleighs, etc
Twenty-three horses
2,875
Salaries
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172
MASSACHUSETTS-WEST ROXBURY.
OPERATIONS, 1858-9.-Trips run, 19,406 ; miles run by cars, 53,863 ; passen-
gers carried, 178,109.
INCOME ACCOUNT FOR THE YEAR ENDING 30TH NOVEMBER, 1859.
Receipts-
Disbursements-
Passenger earnings
$8,267
General repairs
$401
Manure
130
Wages to employees
3,298
Other sources
455
Interest and sundries
101
Provender
3,035
Incidental expenses and salaries
1,702
Surplus income
316
Total
$8,852
Total
$8,852
WALTHAM AND WATERTOWN RAILROAD.
DIRECTORS, 1859-60-W. White, Francis Kendall, Charles Davenport, Geo. Frazier
and H. P. Page.
LENGTH OF RoAD-Mount Auburn to Watertown Depot, 11,266 feet.
EQUIPMENT
Furnished by the Union Company.
Chartered 19th May, 1855 ; construction commenced in November, 1856 ;
road completed 1st May, 1857. Leased to Union Company 11th April,
1857, for 10 years, from date of completion for $1,500 per annum, with the
privilege of renewal for 5 years. The lessee keeps the road in repair.
SHARE CAPITAL-Authorized, $300,000, in 3,000 $100 shares.
Paid in, - $17,200, on 200
"
Cosr OF ROAD AND APPUETENANCES-$19,700: in detail as follows:
Excavation for foundation
$4,100
Engineering
$85
Timber for foundation
1,683
Interest and incidentals
1,666
Rails, chairs, spikes, etc
9,957
Depot and stables at Watertown
2,209
WEST ROXBURY RAILROAD.
DIRECTORS, 1859-60-J. G. Weld, S. M. Weld, and Charles Brewer.
LENGTH OF ROAD-Main Line, 1.20 mile. Second track, 0.67 mile. Sidings, 567 feet.
Chartered 28th May, 1856 ; completed 1st December, 1857. Leased to
the Metropolitan Company, which pay 8 per cent. per annum on the capital
invested.
SHARE CAPITAL-Authorized, $400,000. in 4,000 $100 shares.
Voted by shareholders and paid in $40,400, in 404
"
COST OF ROAD AND APPURTENANCES-$13,737, in detail as follows :
Excavation and track laying
$7,500
Sundry expenses.
1,385
Timber for foundation
2.600
Land and buildings purchased
4,500
Nails, spikes, etc
13,100
Buildings erected on land not owned
8,679
INCOME ACCOUNT FOR THE YEAR ENDING 30TH NOVEMBER, 1859.
Receipts-
Disbursements-
Rent from lessee
$3,232
Incidental expenses.
$64
Sundries
80
Dividend
3,332
Surplus from 1857-8
4
Surplus after dividend
20
Total
$3,316
Total
$3,316
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MASSACHUSETTS-UNION.
173
WEST CAMBRIDGE RAILROAD.
DIRECTORS 1859-'60-John Schouler, Jesse P. Pattee, Benjamin Poland.
LENGTH OF RoAD-Main Line, 8,235 feet. Sidings, turnouts, etc., 498 feet.
Chartered 28th May, 1857 completed 13th June, 1859. Leased and
operated by the Union Railroad Company, the lessee paying for the use of
the road $1,500 per annum.
SHARE CAPITAL-Authorized, $50,000. Paid in, $11,350.
COST OF ROAD AND APPURTENANCES-$12,250. No detail.
FUNDED DEBT
None.
FLOATING DEBT
$900.
UNION RAILROAD.
DIRECTORS, 1859-60-James W. Emery, H. H. Stimpson, Gardiner G. Hubbard,
Estes Howe and W. A. Saunders.
The Union Railroad Company was chartered on the 15th May, 1855. It
has no railroad of its own; but is simply a transportation company leasing
and operating the Cambridge and other roads.
SHARE CAPITAL-Authorized, $200,000, in 2,000 $100 shares.
Voted by Company and paid in, $160.000, in 1,600
"
FUNDED DEBT
None. OTHER DEBT
$69,407
The debt of this Company consists of four mortgages on real estate,
amounting to $26,058, and notes payable, etc., amounting to $43,349.
OPERATIONS FOR THE YEAR-Trips made by cars, 85,045 ; miles run by cars,
625,229 : passengers carried, 2,491,006.
INCOME ACCOUNT FOR THE YEAR ENDING 30TH NOVEMBER, 1859.
Receipts-
Disbursemento-
Passenger earnings
$188,115
Maintenance of way
$7,225
Tolls from other companies
1,000
"
of cars, harness, etc.
9,128
Mails
750
Repairs of stables, etc
1,431
Sales of manure
1,157
Wages, $63,053; salaries and office, $9,233 72,286
Other receipts
3,519
Int., $2,447; taxes and insurance, $2,460 4,907
Surplus from 1858
5,839
Rent to Cambridge and other companies.
33,150
Provender and bedding for horses
35,042
Miscellaneous, $234; loss of horses, $6,009 6,243
All other expenses
13,806
Dividends, $16,000, surplus, $1,162
17,162
Total
$200,380
Total
$200,380
GENERAL STATEMENT, 1ST DECEMBER, 1860.
Dr.
Cr
Forty-eight cars
$31,717
Share capital
$160,000
Two hundred and ninety-one horses
32,737
Debt
69,407
Omnibuses, sleighs, etc
500
Undivided surplus
1,162
Land and buildings purchased
42,637
Stables, etc., on land not owned
10,901
Harness, etc., and stable furniture
14,471
Sundries, profit and loss, etc
20,876
Available assets
56,584
Notes of stockholders
20,145
Total
$230,569
Total
$230,569
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LAWS OF THE STATE IN REFERENCE TO RAILROADS
List of all the Railroad Companies chartered in the State of Massachu-
setts, with the dates of the Acts of their incorporation; and also the dates
and abstracts of all laws passed by the Legislature in reference thereto.
The asterisk [*] prefixed signifies that the work of construction has not been commenced.
Corporate Titles.
Laws.
Abstracts of Laws.
*ADAMS & BENNINGTON
1846. p. -
Act of incorporation, February 24.
*AGRICULTURAL BRANCH
1847, p. -
Act of incorporation, April 26.
"
"
1848, p. -
Time extended for construction. May unite
with Framingham Branch RR., April 21.
"
"
1851, p. 622
Act of incorporation revived, May 7.
"
"
1852, p. 178
Time of location, etc., extended, May 18.
"
"
1852, p. 126
May extend road and increase stock, May 5.
"
"
1853, p. 466
Time of location, etc., extended, April 23.
"
"
1856, p. 157
Time of construction extended, May 31.
"
"
1857, P 463
Time of construction extended, May 30.
"
"
1859, p. 227
Time of construction extended, February 3.
"AMHERST BRANCH
1848, p.
Act of incorporation, April 10.
AMHERST & BELCHERTOWN
1851, p. 769
Act of incorporation, May 24.
"
"
1853, p. 539
Time of location, etc., extended, May 4.
44
"
1854, p. 21
Time of location, etc., extended, February 24.
"
"
1856, p. 44
Time of location, etc., extended, April 3.
"
"
1858, p. 66
Time of location, etc., extended, March 25.
ANDOVER & HAVERHILL
1837, p. -
Act to aid the construction, April 18.
"
"
1839, p. -
May increase capital stock, and change name
to Boston and Portland, Railroad, April 3.
ANDOVER & WILMINGTON
1833, p.
Act of incorporation, March 15.
"
4.
1834, p. -
Time extended for completion, March 31.
"
"
1835, p.
May construct road from Andover to Haverhill,
April 7.
"
"
1837, p. -
May construct road from Bradford to State
line of New Hampshire, April 5.
*BARRE & NORTH BROOKFIELD
1852, p. 124
Act of incorporation, May 3.
"
"
"
1854, p. 285
Time of location, etc., extended, April 28.
"
"
"
1856, p. 16
Time for construction extended, February 26.
"
=
"
1857, p. 498
Charter ainended, May 13.
*BARRE & WORCESTER.
1847, p. -
Act of incorporation, April 26.
"
"
1848, p. -
Time for location extended, April 14.
"
"
1849, p. -
Time for location extended, March 24.
"BAXTER, ALEX, & OTHERS
1850, p. 291
May construct a marine railroad, February 12.
*BEDFORD
1846, p. -
Act of incorporation, April 16.
BERKSHIRE
1837, p. -
Act of incorporation, April 13.
"
1842, p. -
May unite with West Stockbridge RR., Mch. 1.
"
1845, p. -
May construct a branch, March 15.
.6
1847, p. -
May construct a road from West Stockbridge
to Western Railroad, April 26.
"BERKSHIRE & NEW YORK
!832, p.
Act of incorporation, March 2.
*BEVERLY MARINE
1855. p. 372
Act of incorporation, March 9.
"BELLINGHAM BRANCH
1852, p. 85
Act of incorporation, April 20.
*BILLERICA BRANCH
1848, p. -
Act of incorporation, April 18.
*BostoN, BARRE & GARDINER
1851, p. 591
Time of construction extended, April 24.
"
"
"
1853, p. 589
Time of construction extended, May 12.
"
"
"
1856, p. 60
Time of construction extended, April 15.
"
"
"
1857, P 459
Time of construction extended, April 27.
"
"
"
1859, p. 272
Time of construction extended, March 14.
BOSTON & CHELSEA
1854, p. 352
Act of incorporation, April 29.
"
"
1855, p. 761
Time of paying capital extended, May 17.
"
"
1856, p. 73
Act of 1854 amended, April 26.
"
"
1857 p. 441 Time of construction, etc., extended, April 14.
174
Digitized by Google
MASSACHUSETTS-RAILROAD LAWS.
175
Corporate Titles.
Laws.
Abstract of Laws.
BOSTON & LOWELL
1830, p. -
Act of incorporation, June 5.
"
"
1831, p.
Share capital increased, March 11.
"
"
1832, p. -
State may purchase road, March 5.
"
"
1834, p. -
Share capital increased, January 31.
"
"
1836, p. -
Share capital increased, April 6.
"
"
1838, p. -
Share capital increased, April 10.
"
"
1847, p. -
May construct branches, April 14.
"
"
1847, p. -
May construct branch in Boston, April 24.
44
"
1849, p. -
May construct branch in Lowell, March 2.
"
"
1849, p.
Act confirming location, April 18.
"
"
1853, p. 607
May construct branch in Boston, May 25.
"
"
1855, p. 836
Relative to construction of bridge, May 21.
"
46
1855, p. 578
Time of completing branch extended, April 6.
"
"
1856, p. 93
Time of completing branch extended, May 13.
"
"
1856, p. 68
May construct branch in Lowell, April 24.
"
"
1857, p. 478
May construct a connecting track, May 7.
"
"
1857, p. 461
Time of construction extended, May 30.
BOSTON & MAINE
1843, p.
Act of incorporation, March 24.
"
is
1845, p.
To unite Boston and Maine Extension, Mch.19.
"
"
1846, p. -
Supplement to act of incorporation, March 3.
"
"
1847, p. -
May contract with Portland, Saco .and Ports-
mouth, March 11.
"
"
1848, p. -
May change branch at Methuen, May 10.
$4
"
1849, p. -
May increase capital stock, May 2.
"
"
1855, p. 582
Relative to location of road, April 6.
"
"
1857, p. 611
Relative to running trains, May. 30.
BOSTON & MAINE EXTENSION
1844, p. -
Act of incorporation, March 16.
"
44
"
1845, p. -
Authorized to erect sea wall, March 25.
BOSTON MARINE
1850, p. 325
Relative to wharf, March 14.
46
"
1852, p. 79
May enter upon Salem & Lowell RR, Apl. 20.
"
"
1853, p. 389
Relative to drawbridge, March 19.
"
"
1854, p. 261
Relative to the Cochituate water pipes, Apl. 24
"
"
1859, p. 281
Authorized to relocate and widen road, Mch. 2E.
BOSTON & New YORK CENTRAL
1854, p. -
Act of incorporation, April 29.
"
"
"
"
1855, p. 565
Time for construction extended, March 31.
"
"
"
"
1855, p. 700
Relative to claimants against, May 3.
"
"
"
"
1855, p. 744
May issue preferred stock, May 15.
"
"
"
"
1856, p. 15
Relative to claims for damages, February 26.
"
"
"
"
1856, p. 39
May construct a bridgein Dorchester, Mch. 29
"
"
"
"
1856, p. 18
Time for construction extended, February 29.
"
"
"
"
1857, p. 425
Relative to damages, March 28.
"
"
"
"
1858, p. 16
Time of construction extended, February 13.
"BOSTON & ONTARIO
1831, p.
Act of incorporation, June 22.
BOSTON & PORTLAND
1839, p.
State loan authorized, April 9.
*Boston, PROVIDENCE & TAUNTON
1830, p. -
Act of incorporation, March 24.
*BOSTON & TAUNTON
1831, p. -
Act of incorporation, June 22.
"
"
1832, p. -
State authorised to purchase, March 7.
BOSTON & WORCESTER
1831, p. -
Act of incorporation, June 23.
"
"
1832, p. -
Supplement to act incorporating, March 22.
"
"
1833, p.
Time extended for locating road, March 11.
"
"
1841, p. -
Supplement to act of incorporation, March 18
"
"
1846, p. -
May increase capital stock, April 4.
"
"
1848, p. -
May increase capital stock, May 4.
"
"
1849, p. -
Annual meetings established, February 8
"
"
1850, p. -
May increase capital stock, February 27
"
"
1857, p. 485
Relative to location of road, May 9.
"
"
1859, p. 223
Relative to location of road, January 31.
BOSTON & PROVIDENCE
1831, p.
Act of incorporation, June 21.
"
"
1832, p. -
State authorised to purchase, February 29.
"
"
1833, p.
Supplement to act of incorporation, Jan. 23.
"
"
1834, p. -
Authorised to construct branch, March 31.
"
"
1835, p. -
Proceedings confirmed, March 7.
"
"
1835, p. -
May increase capital stock, April 1.
"
"
1836, p.
May increase capital stock, April 16.
as
"
1839, p. -
Authorised to purchase Seekonk branch, Ap.10.
"
"
1840, p.
May contract with New York, Providence and
Boston Railroad Company, March 23.
"
"
1841, p.
Limitation clause in act 1840 repealed, Mh.17.
Digitized by Google
176
MASSACHUSETTS-RAILROAD LAWS.
Corporate Titles.
Laws.
Abstracts of Laws.
BOSTON & PROVIDENCE
1843, p.
May maintain a ferry at Providence, Mch. 24.
"
"
1845, p. -
May subscribe to stock of Stoughton Branch
Railroad, February 20.
"
"
1846, p.
Authorized to increase capital stock, Feb. 7.
"
"
1846, p. -
Authorized to construct branch road, Mch. 27.
"
"
1848, p.
Authorized to increase capital stock, April 22.
'
"
1848, p.
May construct Dedham Branch, May 9.
"
"
1852, p. 164
Authorised to construct a railroad, May 18.
"
"
1853, p. 553
Time of annual meeting changed, May 11.
BROADWAY (HORSE)
1854, p. 349
Act of incorporation, April 29.
"
"
1856, p. -
May extend track and use a portion of the
Dorchester road, May 4.
"
"
1858, p. 17
May extend time of payment on stock, Feb. 13.
BROOKLINE (HORSE)
1857, p. 648
Act of incorporation, May 30.
"
"
1859, p. 255
Act of 1857 amended, February 17.
CAMBRIDGE (HORSH)
1853, p. 600
Act of incorporation, May 25.
of
1854, p. 136
Supplement to act of incorporation, March 31.
"
1855, p. 760
Relative to bonds and track of road, May 17.
"
1855, p. 509
Relative to bonds and capital stock, Feb. 21
*CAMBRIDGEPORT
1853, p. 813
Act of incorporation, May 19.
CAPE Cod BRANCH
1846, p. -
Act of incorporation, April 8.
"
:
"
1848, p. -
Time extended for locating road, Feb. 19.
"
"
"
1851, p. 688
May extend road and increase capital, May 21
"
"
"
1852, p. 110
Relative to stock of Nantucket, April 28.
"
"
"
1854, p. 19
Name changed to Cape Cod, February 22.
CHARLES RIVER BRANCH
1849, p. -
Act of incorporation, May 1.
CHARLES RIVER
1851, p. 793
Act of incorporation, May 24.
"
"
1851, p. 600
Time for location extended, April 3.
"
"
1852, p. 74
Relative to location, April 20.
"
"
1855, p. 558
Time for location extended, March 28.
"
"
1855, p. 644
Time for construction extended, April 21.
"
"
1855, p. 794
May extend line, etc., May 19.
"
"
1856, p. 153
May unite with New York & Boston, May 31.
CHARLESTOWN BRANCH
1835, p. -
Act of incorporation, April 4.
"
"
1836, p. -
Relative to share capital, April 9.
"
"
1837, p. -
Supplement to act of incorporation, March 25.
"
"
1839, p. -
Supplement to act of incorporation, April 8.
"
"
1841, p. -
May construct branch roads, March 17.
"
"
1842, p. -
Repeals part of act of 1841, February 21.
"
"
1844, p -
Anthorized to straighten road, March 16.
"
"
1845, p. -
Authorized to construct branch, March 26.
"
"
1846, p. -
Relative to purchase of road by Fitchburg
Railroad Company, February 7.
"CHATHAM MARINE
1851, p. 570
Act of incorporation, March 22.
*CHEBACCO BRANCH
1848, p. -
Act of incorporation, April 20.
CHELSEA BRANCH
1846, p. -
Act of incorporation, April 10.
..
"
1947, p.
May construct a branch road, February 23.
"
"
1847, p. -
Name changed to Grand Junction Railroad
and Depot Company, April 24.
"
"
1848, p. -
May construct a branch road, May 6.
"
"
1848, p. -
Authorized to change location of road, May 6.
*CHELSEA BEACH
1858, p. 22
Act of incorporation, February 24.
CHESHIRE
1859, p. 26
Authorized to issue bonds, March 5.
*CITY OF BOSTON BRANCH
1847, p. -
Act of incorporation, April 23.
"CLIFTONDALE
1859, p. 306
Act of incorporation, April -.
*COHASSET & SCITUATE BRANCH
1847, p.
Act of incorporation, April 23.
CONNECTICUT RIVER
1850, p. 375
Authorized to issue preferred stock, April 18
"
"
1850, p. 426
May lease Ashuelot Railroad, April 26.
"
"
1857, p. 573
May unite with Hampshire& Hampden, May 27
DANVERS
1852, p. 18
Act of incorporation, March 15.
"
1854, p. 3
Time of construction extended, January 28.
"
1855, p. 795
Time of construction extended, January 29.
"
1855, p. 519
May sell to Boston and Maine, March 9.
"
1855, p. 527
May unite with Danvers and Georgetown and
Newburyport Railroad Companies, May 2.
DANVERS & GEORGETOWN
1851, p. 623
Act of incorporation, May 7.
"
"
1852, p. 119
May enter upon the Newburyport Railroad at
Georgetown, April 30.
Digitized by Google
MASSACHUSETTS-RAILROAD LAWS.
177
Corporate Titles.
Laws.
Abstracts of Laws.
DANVERS & GEORGETOWN
1853, p. 527
May unite with Newburyport and Danvers
Railroad Companies, May 2.
"
"
1854, p. 3
Time of construction extended, January 23.
"
"
1855, p.
May unite with Newburyport RR., Feb. 9.
DORCHESTER AVENUE
1856, p. 34
Supplement to act incorporating, March 26.
"
"
1856, p. 204
Relative to bridges, January 4.
"
"
1857, p. 545
May unite with other roads.
DORCHESTER BRANCH
1855, P 340
Act of incorporation, April 29.
"
"
1855, p. 617
Supplement to act of incorporation, April 18.
DORCHESTER EXTENSION
1859, p. 239
Act of incorporation, February 18.
DORCHESTER & MILTON BRANCH
1846, p. -
Act of incorporation, April 16.
"
"
"
1848, p. -
May increase capital stock, April 20
"
"
"
1851, p. 779
Authorized to issue shares, May 24.
"
"
"
1852, p. 82
Authorized to lease road, April 20.
"
"
"
1857, p 509
Rights of the Dorchester and Milton Extension
Railroad are to be vested in this Co., May 15.
DORCHESTER & MILTON EXTENSION-
1849, p. -
Act of incorporation, May 1.
"
"
"
1850, p. -
Time of location extended, April 17.
"
"
"
1850, p. 411
Time of location, etc., extended, April 17.
6:
"
"
1854, p. -
Act of incorporation revived, April 29.
"
"
"
1857, p. -
Vests franchise in Dor. & Milton Br., May 15.
DORCHESTER & ROXBURY
1857, P. 603
Act of incorporation, May 30.
"
"
1859, p. -
Time of location extended, April 5.
"DUXBURY BRANCH
1847, p. -
Act. of incorporation, April 7.
EASTERN
1836, p. -
Act of incorporation, April 14.
"
1837, p. -
Authorizing change of location, April 12.
"
1837, p. -
Authorizing State to loan $500,000, April 18.
"
1838, P.
-
State Treasurer may issue scrip, April 25.
"
1839, p. -
Act to aid in construction, April 1.
"
1839. p.
-
May construct Marblehead Branch, April 6.
"
1841, p. -
Authorized to extend wharves, March 17.
"
1844, p. -
State Treasurer to pay Co. interest, Mch. 15.
"
1845, p. -
May construct Gloucester Branch, March 26.
"
1846, p. -
May construct bridge over Merrimac, Apl. 16.
"
1847, p. -
My contract with Chelsea Branch, April 13.
"
1847, p. -
Time for completion extended, April 20.
"
1848, p. -
Authorized to increase capital, April 25.
"
1848, p. -
Authorized to enter Boston, May 9.
"
!849, p. -
May extend road and increase capital, May 2.
"
1851, p. 750
Time extended for locating road, May 24.
"
1852, p. 211
May lense South Reading Branch, May 21.
"
1852, p. 212
Authorised to construct branch roid, May 21.
"
1652. p. 117
Authorized to purchase Saugus RR., April 30.
"
1854, p. -
May construct additional road, April 15.
"
1854, p. 291
Time of construction extended, April 28.
"
1855. p. 587
Time of construction extended, April 6.
"
1855, P 782
Authorizing the widening of bridges, May 17.
"
1856, p. 242
Relative to location of road, June 6.
"
1857, p. 555
Payment of State loan extended, May 23.
EASTON BRANCH
1854, p. 36
Act of incorporation, March 3.
"EAST WALPOLE BRANCH
1854, p. 252
Act of incorporation, April 20.
"
"
"
1857, p. 601
Time of construction extended, May 29.'
Essex
1846, p. -
Act of incorporation, March 7.
"
1847, p. -
Authorised to construct branches, April 23.
"
1848, P -
May extend road to Andover, May 6.
"
1849, p. -
Time of construction extended, February 8.
"
1851, p. 846
Authorized to issue bonds, May 24.
"
1851, p. 628
Authorized to enter upon other roads, May 15.
FAIRHAVEN BRANCH
1849, p. -
Act of incorporation, May 1.
"
"
1851, p. 602
Time for construction extended, April 30.
"
"
1852, P 79
Time for construction extended, April 20.
as
"
1852, p. 106
Authorized to construct bridge, April 27.
u
"
1853, p. 443
May increase capital stock, April 14.
"
"
1854, p. 79
May purchase N.B. & Fairhaven Ferry, Mh. 24.
"FAIRHAVEN GRANITE MARINE
1853, p. 124
Act of incorporation, March 29.
FALL RIVER BRANCH
1844, p. -
Act of incorporation. March 14.
"
"
"
1846, p. -
United with Middleboro' Railroad, April 16.
"
"
"
1847, p. -
May extend road to Fall River, April 21.
23
Digitized by Google
178
MASSACHUSETTS-RAILROAD LAWS.
Corporate Titles.
Laws.
Abstract of Laws.
FALL RIVER BRANCH
1849, p. -
Authorized to change location, May 2.
"
"
"
1854, p. 133
Location changed, March 31.
"
"
"
1854, p. 85
May unite with Old Colony Railroad, Mch. 25.
*FALL RIV. MILLROAD, RR. & FERRY
1835, p. -
Act of incorporation, March 31.
"
"
6
"
1836, p. -
May enter upon Boston & Providence, Apl. 16.
"
"
"
1837, p. -
Tenth section of charter construed, March 25.
"
"
"
I
1838, p. -
Time extended for completion, March 23.
"
"
"
"
1847, p. -
Authorised to extend road, April 21.
*FALL RIVER & WARREN
1857, p. 420
Act of incorporation, May 17.
FITCHBURG
1842, p. -
Act of incorporation, March 3.
"
1845, p. -
May subscribe to Vermont and Massachusetts,
and increase capital stock, March 25.
"
1847, p. -
May extend road to Boston, April 20.
"
1850, p. -
Change of location confirmed, March 28.
"
1850, p. -
Authorized to straighten road, April 4.
"
1851, p. -
Relative to construction of bridge, May 24.
"
1852, p. 103
Time for alterating bridges extended, Apl. 24
"
1853, p. 76
Time of filing location extended, April 30.
"
1853, p. 525
May increase capital stock, May 2.
"
1854, p. 261
Relative to Cochituate water pipes, April 24.
"
1855, p. 649
Relative to old draw-bridge and new, April 26.
"
1855, p. 661
Relative to location of road, April 27.
"
1855, p. 678
Authorised to widen bridges, May 2.
FITCHBURG & WORCESTER
1846, p. -
Act of incorporation, April 16.
"
"
1847, p. -
Time of location extended, March 20.
"
86
1848, p -
Time of location extended, February 29.
"
"
1849, p. -
May sell or unite with other road, Feb. 14.
"
:
1850, p. -
Time for completion extended, February 2.
"
"
1851, p. 599
Authorized to increase capital stock, April 29.
"
"
1853, p. 362
Authorized to issue preferred stock, Feb. 21.
"
"
1855, p. 920
Authorized to extend road, May 21.
FRAMINGHAM BRANCH
1846, p. -
Act of incorporation, April 16.
"
"
1848, p. -
Time for construction extended, March 18.
"
"
1850, p. -
Time for construction extended, March 28.
"FRANKLIN
1830, p. -
Act of incorporation, March 10.
"
1830, p. -
Supplement to act of incorporation, June 7.
"
1832, p. -
Supplement to act of incorporation, March 1.
*GEORGETOWN & ANDOVER
1849, p. -
Act of incorporation, May 2.
"
"
1852, p. 114
Time for construction extended, April 30.
GEORGETOWN & DANVERS
1844, p. -
Act of incorporation, March 16.
*GEORGETOWN BRANCH
1844, p. -
Act of incorporation, March 11.
GRANITE
1826, p. -
Act of incorporation, March 4.
"
1831, p. -
Supplement to act of incorporation, June 20.
"
1836, p. -
May increase capital stock, April 8.
"
1846, p. -
May increase stock and sell road, April 16.
"
1854, p. 194
Supplement to act of incorporation, April 12.
GRAND JUNCTION RR. & DEPOT
1848, p. -
May construct branches, and unite with other
roads and change location, May 6.
"
"
"
1850, p. 364
May alter location of road, Feb. Feb 25.
"
"
"
1851, p. 730
Supplement to act of incorporation, May 25.
"
"
"
1852, p. 212
Authorized to construct branch, May 21.
"
"
"
1854, p. 25
May unite with Union Company, February 25.
*GREY Lock
1852, p. 108
Act of incorporation, April 27.
GREENFIELD & NORTHAMPTON
1845, p. -
Act of incorporation. January 25.
"GREENFIELD & FITCHBURG
1848, p. -
Act of incorporation, May 8.
*GROTON & EAST WILTON
1845, p. -
Act of incorporation, March 25.
*GROTON BRANCH
1844, p. -
Act of incorporation, March 16.
*HAMPDEN
1852, p. 193
Act of incorporation, May 20.
"
1853, p. -
May unite with other roads, May 25.
*HAMPSHIRE & FRANKLIN
1845, p. -
Act of incorporation, February 1.
"
"
1847, p. -
Relative to Mount Holyoke Railroad, June 22.
"
"
1848, p.
Supplement to act of incorporation, April 10.
HAMPSHIRE & HAMPDEN
1856, p. 104
Authorised to extend road, May 24.
"
"
1857, p. 573
May unite with Conn River Railroad, May 27.
"
"
1859, p. 406
Supplement to act of incorporation, April 6.
"HANOVER BRANCH
1846, p. -
Act to incorporate, April 6.
"
"
1847, p. -
Time for location extended, April 23.
HARTFORD & SPRINGFIELD
1839, p. -
Act of incorporation, April 5.
Digitized by Google
MASSACHUSETTS-RAILROAD LAWS.
179
Corporate Titles.
Laws.
Abstracts of Laws.
HARTFORD & SPRINGFIELD
1841, p.
Time for organization extended, March 13.
"
"
1844, p.
Supplement to act of incorporation, Feb 23.
"
"
1845, p. -
Amends 2d sec. of act of Feb. 23, 1844, Feb. 12.
"
"
1847, p. -
Name changed to Hartford and N H., Apl. 23.
"
"
1852, p. -
Authorized to increase capital stock, Mch. 31.
HARVARD BRANCH
1848, p. -
Act of incorporation, April 17.
"
"
1849, p. -
Time for location extended April 24.
"
"
1854, p. 243
Authorized to discontinue road, April 19.
"
"
1855, p. 551
Relative to purchasers, March 26.
*HOOSAC RAIL, OR MCADAMIZED RD
1832, p.
Act of incorporation, February 25.
*HOPKINGTON BRANCH
1854, p. 247
Act of incorporation, April 19.
HORN POND BRANCH
1852, p 137
Act of incorporation, May 7.
"
"
"
1855, p. 733
Authorized to construct branch, May 15.
HUDSON & BERKSHIRE
1840, p. -
May unite with West Stockbridge, March 20.
HUDSON & BOSTON
1855, p. -
May unite with Western Railroad, May 15.
"INDIAN ORCHARD
1849, p. -
Act of incorporation. May 1.
"
"
1850, p. 351
Time for completion extended, April 2.
*LAKE Rock GRANITE
1850, p. -
Act of incorporation, May 3.
LANCASTER & STERLING
1846, p. -
Act of incorporation, April 16.
"
"
1847, p. -
Relative to location of road, April 24.
"
"
1849, p. -
Relative to location of road, March 1.
LEBANON SPRINGS (of New York)
1853, p. -
May unite with Lebanon Springs, April 21.-
..
"
"
"
Time for construction extended.
*LEXINGTON & CHELMSFORD
1855, p. 777
Act of incorporation. May 18.
LEXINGTON & WEST CAMBRIDGE
1845, p. -
Act of incorporation, March 24.
"
"
"
1851, p. 562
Share capital increased, February 26.
"
"
"
1855, p. 683
May enter upon Fitchburg Railroad, May 2.
LOWELL & ANDOVER
1846, p. -
Act of incorporation, March 27.
"
"
1848, p. -
Changed to Lowell and Lawrence, Feb. 15.
LOWELL & LAWRENCE
1851, p. 613
Authorized to construct branches, May 7.
"LYNN & BOSTON
1859, p. 358
Act of incorporation, April 6.
MALDEN & MELROSE
1856, p. 238
Act of incorporation, June 6.
*MANSFIELD COAL.
1852, p. 23
Act of incorporation, March 26.
MARLBORO'
1852, p. 115
Act of incorporation, April 15.
"
1855, p. 505
Relative to mortgage, February 16.
"
1857, p. 134
Relative to mortgage, March 27.
MARBLEHEAD & LYNN BRANCH
1847, P -
Act of incorporation, April 20.
*MASSACHUSETTS
1830, p. -
Act of incorporation, March 12.
*MATFIELD
1850, p.
Act of incorporation, April 30.
*MECH & ENGINEERS EXPERIMENTAL
1852, p. 163
Act of incorporation, May 14.
MEDFORD BRANCH
1845, p. -
Act of incorporation, March 7.
*MEDFORD & CHARLESTOWN
1855, p. 738
Act of incorporation, May 15.
"
"
1857, p. 406
Supplement to act of incorporation, March 9.
"
"
1859, p. 407
Relative to location of road, April 6.
MEDWAY BRANCH
1849, p.
Act of incorporation, May 15.
"
"
1850, p. 443
Authorized to change location, April 30.
"
"
1850, p. 284
Time for construction extended, February 2.
"
"
1851, p. 799
Time for construction extended, March 24.
"
of
1852, p. 79
Capital stock reduced, April 20.
METROPOLITAN
1853, p. 574
Act of incorporation, May 21.
"
1854, p. 61
Supplement to act of incorporation, March 16.
"
1855, p. 613
Time for paying capital extended, April 14.
"
1859, p. 226
Authorized to increase capital stock, Feb. 3.
MIDDLEBORO'
1845, p. -
Act of incorporation, March 26
*MIDLDEBORO' & PLYMETON
1849, p. -
Act of incorporation, May 2.
MIDDLEBORO' & TAUNION
1853, p. 382
Changed from Taunton & Middleboro' Mh. 17.
"
"
1854, p. 64
Time for construction extended, March 17.
"
"
1855, p. 678
Time for construction extended, May 2.
MIDDLESEX (HORSE)
1854, p. 335
Act of incorporation, April 29.
"
"
1856, p. 53
Time for paying stock extended, April 8.
"
"
1857, p. 431
Authorized to extend road in Boston, April 2.
"
"
1859, p. 363
Authorized to extend road in Boston, April 6.
MIDLAND
1850, p. 453
Act of incorporation, May 2.
"
1851, p. 841
Relative to construction of road, M ly 24.
"
1852, p. 25
Time for construction extended, March 26.
"
1853, p 543
Relative to location of road, May 10.
"
1858, p. 43
Supplement to act of incorporation, March 19
"
1859, p. 231
Time for construction extended, February 5.
Digitized by Google
180
MASSACHUSETTS-RAILROAD LAWS.
Corporate Titles.
Laws.
Abstracts of Laws.
"MILBURY & SOUTHBRIDGE
1851, p. 616
Act of incorporation, May 1.
"
"
1855, p. 734
Supplement to act of incorporation, May 10.
"
"
1855, p. 562
Time for construction extended, March 26.
"
"
1856, p. 12
Time for construction extended, February 16.
"
"
1847, p. 423
Time for construction extended, March 21.
*MILFORD & WOONSOCKET
1855, p. 685
Act of incorporation, May 2.
"
"
1857, p. 463
Time for construction extended, May 2.
"
"
1859, p. 250
Time for construction extended, February 26.
"MOUNT HOPE
1836, p -
Act of incorporation, April 13.
*MOUNT HOLYOKE
1846, p. -
Act of incorporation, March 27.
*MOUNT PLEASANT BRANCH
1849, p. -
Act of incorporation, May 1.
"
"
"
!849, p. -
Time for construction extended, April 29.
16
"
"
1850, p. 432
Time for construction extended, April 29.
"
"
1.
1851, p. 732
Time for construction extended, March 23.
"
"
"
1852, P. 41
Time for construction extended, March 30.
*MYSTIC RIVER
1853, p. 622
Act of incorporation, May 25.
"
"
1854, p. 20
Relative to location of road, February 24.
"
"
1855, p. 826
Relative to location of road, May 21.
"
"
1857, p 457
Time for construction extended, April 24.
"
6
1859, p. 224
Relative to capital stock, January 31.
*NASHUA
1839, P. -
Act of incorporation, April 9.
NASHUA & LOWELL
1836, p. -
Act of incorporation, April 16.
"
"
1838, p. -
May unite with Nashua and Lowell Railroad
of New Hampshire, April 10.
"
"
1838, p. -
Act to aid construction, April 17.
"
"
1838, p. -
Time extended for completion, April 24.
"
"
1845, p. -
Authorized to increase capital stock, Feb. 27.
"
"
1846, p. -
May surrender a portion of Middlesex Turn-
pike, April 16.
New BEDFORD & FALL RIVER
1836, p. -
Act of incorporation, April 16.
"
"
"
"
1838, p. -
Act of incorporation revived, April 24.
"
"
"
"
1839. p. -
Name changed from Old Colony, March 26.
"
"
"
"
1848, p. -
Authorized to construct branch, March 22.
at
"
"
"
1848 p. 169
May unite with Fall River Railroad, Mch 27.
NEWBURYPORT
1846, p. -
Act of incorporation, March 11.
"
1848, p. -
May increase capital stock, May 18.
"
1848, p. -
Authorized to change location of road, May 9.
"
1850, p. 356
Time for completion extended, April 2.
"
1851, p. 612
Time for completion extended, May 7.
"
1853, p. -
May unite with Danvers Railroad, May 25.
"
1854, p. 128
Relative to location, etc., March 28.
"
1855, p. 501
May unite with Dan. and Georgetown, Feb. 9.
"
1855. p. 531
Authorised to construct branch, May 16.
"
1855, P 643
Time for construction extended, April 21.
*New ENGLAND RR & MUTUAL FIRE
INSURANCE COMPANY
1856, p. 29
Act of incorporation, March 21.
"
"
"
"
1857, p. 551
Authorized to increase property, May 23.
N. LONDON, WILLIMANTIC & PALMER
1848, p. -
Act of incorporation, April 10.
..
"
"
1851, p. 589
Relative to issue of bonds, April 25.
"
"
"
1852, p. 145
May take stock in Am. and Bel. RR., May 11
NEWTON (HORSE)
1857, p. 624
Act of incorporation, May 30.
"
"
1857, p. 646
Relative to horse power, May 30.
NEW YORK & BOSTON
1856, p. 153
Confirming union with Charles River, May 31.
"
"
"
1857, p. 428
Time for construction extended, March 31.
"
"
"
1858, p. 18
Time for construction extended, February 13.
"
"
"
1859, p. 244
Time for construction extended, February 18.
NORFOLK COUNTY
1847, p. -
Act of incorporation, April 24.
"
"
1849, p. -
Authorized to construct branch road, May 1.
"
"
1850, p. 378
Authorized to increase capital stock, April 9.
"
"
1851, p. 765
May contract with Woonsocket Union, May 24.
"
"
1852. p. 113
Supplement to act of incorporation, April 30.
"
"
1853, p. 366
May unite with Dedham Railroad, Feb. 23.
"NORTH BEVERLY BRANCH
1851, P 733
Act of incorporation, May 23.
NORTHAMPTON & SPRINGFIELD
1842, p.
Act of incorporation, March 1.
"
"
1844, p. -
Time for completion extended, February 23.
"
"
1845. p. -
Authorized to change location, March 21.
"
"
1815, p. -
May unite with Greenfield and Northampton
Railroad, January 25.
Digitized by Google
MASSACHUSETTS-RAILROAD LAWS.
181
Corporate Titles.
Laws.
Abstract of Laws.
NORTHAMPTON & SPRINGFIELD
1846, p. -
Authorized to extend rond, April 16.
"
"
1847, p. -
Time for location extended, April 14.
"
"
1848, p. -
Authorized to change location, April 21.
"
"
1849, p. -
May increase capital stock, May 2.
"
"
1850, p. -
Authorized to issue preferred stock, April 8.
'6
"
1850, p. -
May lease Ashuelot Railroad, April 26.
*NORTHAMPTON & WESTFIELD
1852, p. 251
Act of incorporation, May 22.
*NORTHAMPTON & SHELBURNE
1853, p. 545
Act of incorporation, May 11.
NORWICH & WORCESTER
1836, p. -
Act of incorporation.
"
"
1837, p. -
State loan to.
"
"
1845, p. -
May subscribe to Worcester and Nashua RR.
"
"
1848, P -
Authorized to increase capital stock.
"
"
1850, p. 394
Authorized to increase capital stock, April 13.
"
"
1854, p. 85
Relative to State loan, March 27.
"
"
1854, p. -
Comm'ers of sinking fund appointed, April 13.
"
"
1855, p. 890
Relative to State loan, May 21.
"
"
1857, p. 597
Relative to State loan, May 29.
"
"
1859, p. 253
Relative to sinking fund, March 1.
OLD COLONY
1844, p. -
Act of incorporation, March 16.
"
"
1845, p. -
Authorized to construct a bridge, March 14.
"
"
1845, p. -
Authorized to extend road into Boston, Mb. 15.
"
"
1845, P. -
Authorized to construct branch, March 26.
.4
"
1846, p. -
May increase capital stock, April 6.
44
"
1847, p. -
Authorized to extend road into Boston, Mh. 13.
"
"
1848, p. -
May widen road and build branches Mch. 27.
"
"
1849, p. -
May discontinue a portion of rond, May 1.
"
46
1854, p. -
May unite with Fall River Railroad, Mch. 25.
OLD COLONY (N.Bedford & Taunton)
1838, p.
-
Act of incorporation, April 13.
"
"
"
"
1839, p. -
Changed to New Bedford and Taunton, Mh.26.
PETERSBORO' & SHIRLEY
1845, p. -
Act of incorporation, March 22.
"
"
1846, P -
Supplement to act incorporating, March 20.
"
"
1848, p. -
Time for construction extended, February 14.
"
"
1854, p. 139
Authorized to purchase stock, etc., March 21.
*PITTSFIELD & NEW HAVEN
1848, p. -
Act of incorporation, April 22.
PITTSFIELD & NORTH ADAMS
1842, p. -
Act of incorporation, March 3.
"
"
"
1845, p. -
Act to revive charter, March 18.
*PITTSFIELD & WEST STOCKBRIDGE
1832, p. -
Act of incorporation, March 6.
"
"
"
1836, p. -
Supplement to act of incorporation, April 15.
PROVIDENCE & BRISTOL
1851, p. 736
Act of incorporation. May 25.
"
"
1852, p. 145
Time extended for locating road, May 7.
"
"
1853, p. 410
Name changed to Providence, Warren and
Bristol Railroad, March 24.
PROVIDENCE, WARREN & BRISTOL
1853, p. 410
Changed from Providence and Bristol, Mb. 24.
is
"
"
1855, p. 645
Time for construction extended, April 21.
*PROVIDENCE, WARREN & FALL RIV.
1847, p. -
Act of incorporation, April 13.
"
"
"
"
1848, p. -
Time for location extended, April 21.
PROVIDENCE & WORCESTER
1844, p. -
Act of incorporation, March 12.
"
"
1846, p. -
Time for completion extended, February 14.
8:
"
1848, p. -
May enter upon Norwich and Worcester, Feb.
"PLYMOUTH & WAREHAM
1854, p. 219
Act of incorporation, April 14.
*PLYMTON BRANCH
1848, p.
Act of incorporation, April 24
*PLYMTON & MARSHFIELD
1854, p. 235
Act of incorporation, April 15.
"
"
1856, p. 18
Changed to Silver Lake Railroad, Feb. 27.
*QUANAPOWITT
1849, p. -
Act of incorporation, May 2.
"QUINCY BRAN. H
1847, p. -
Act of incorporation, Murch 31.
*Quincy POINT
1847, p. -
Act of incorporation, April 15.
*RANDOLPH & BRIDGEWATER
1845, p. -
Act of incorporation, March 25.
*Rockport
1853, p. -
Act of incorporation, May 16.
"
1855, p. -
Time for location extended April 14.
"
1855, p. -
Rockport authorized to take stock, May 16.
"
1856, p. -
Time for construction extended, April 3.
"SALISBURY BRANCH.
1844, p. -
Act of incorporation, March 15.
"
"
1846, p. -
Relative to location of road, April 6.
"
"
1847, p. -
Relative to completion and grading, March 12.
*SALISBURY & EAST KINGSTON
1844, p. -
Act of incorporation, March 15.
"
"
"
1848, p. --
Act of incorporation, April 26.
SALEM & LOWELL
1848, p. -
Act of incorporation, April 26.
48
44
1849, p. -
Time of filing location extended, February 9
Digitized by Google
182
MASSACHUSETTS-RAILROAD LAWS.
Corporate Titles.
Laws.
Abstracts of Laws.
SALEM & LOWELL
1851, p. -
May enter upon Eastern Railroad, May 15.
"
10
1852, p. -
May enter upon Eastern Railroad, April 20
SAUGUS BRANCH
1848, p. -
Act of incorporation, April 28.
"
"
1850, p. 544
Supplement to act of incorporation, March 23.
&
"
1851, p. 651
Authorized to extend road, May 15.
"
"
1851, p. 805
Authorized to change location, May 24.
"
"
1852, p. 117
Time for construction extended, and authorized
to sell road to the Eastern RR., April 30.
"
"
1855, p. 648
May discontinue a portion of road, April 20.
"
6.
1858, p. 18
Act to confirm the transfer, February 13.
SEEKONK BRANCH
1836, p. -
Act to incorporate, April 16.
"
"
1837, p. -
Supplement to act of incorporation, April 15.
"
"
1838, p. -
Charter amended and altered, April 25.
"SHELBURNE FALLS
1853, p. -
May unite with Hampden Railroad, May 25.
"SILVER LAKE BRANCH
1849, p. -
Act of incorporation, May 2.
"
"
"
1850, p. -
Time for location extended, March 21.
"
"
"
1856, p. -
Changed from Plympton Branch, Feb. 29.
SOMERVILLE
1857, p. 600
Act of incorporation, May 29.
*SOUTHBRIDGE & BLACKSTONE
1849, p. -
Act of incorporation, May 1.
"
"
1851, p. 636
Supplement to act of incorporation, May 15.
SOUTH READING BRANCH
1848, p. -
Act of incorporation, April 26.
of
"
"
1851, p.
May enter upon the Essex Railroad, May 15.
"
"
"
1852, P 211
May lease road to Eastern Company, May 21.
SOUTH SHORE
1846, p. -
Act of incorporation, March 26
"
"
1847, p. -
Supplement to act incorporating, April 20.
"
"
1848, p. --
Time for location extended April 24.
"SPRINGF'D & FARMINGTON VALLEY
1856, p. 93
Act of incorporation, May 16
"
"
"
1859, p. 230
Time for construction extended, February 4.
*SPRINGFIELD & LONGMEADON
1849, p. -
Act of incorporation, March 2.
STOCKBRIDGE & PITTSFIELD
1847, P -
Act of incorporation, March 20.
STONYBROOK
1845, p. -
Act of incorporation, March 26.
"
1847, p. -
Supplement to act of incorporation, April 7.
6
1848, p. -
Authorized to increase capital stock, April 20.
"
1853, p. 407
Sec. 3 of former act revived, March 20.
STONE QUARRY
1854, p. 255
Act of incorporation, April 21.
*STONEHAM BRANCH
1847, p. -
Act of incorporation, April 23.
"
"
1848, p. -
Time for location extended, April 21.
"
"
1851, p. 641
Act of incorporation, May 15.
"
"
1852, p. 155
Time for location extended, May 15.
"
"
1853, p. 520
Time for location extended, April 29.
"
"
1854, p. 246
Relative to location of road, April 9
"
"
1859,.p 421
Supplement to act of incorporation, April 6.
"STOUGHTON BRANCH.
1844, p. -
Act of incorporation, April 16.
61
"
1845, p. -
Relative to construction of road, February 15.
SUFFOLK
1857, p. 630
Act of incorporation, May 21.
"
1859, p. 224
Time for paying capital extended, Jan. 31.
*SWIFT RIVER
1851, p. 808
Act of incorporation, May 24.
"
"
1853, p. 581
Time for construction extended, May 23.
TAUNTON BRANCH
1835, p. -
Act of incorporation, April 7.
"
"
1836, p.
Authorized to increase capital stock, April 16.
"
&
1837, p. -
Authorized to increase capital stock, Feb. 22.
"
"
1844, p. -
May construct railroad in Taunton March 6.
"
1845, p. -
Time for completion extended, February 11.
TAUNTON & MIDDLEBORO'
1848, p. -
Act of incorporation, April 21.
"
"
1849, p. -
Time for construction extended, February 9.
"
"
1850, p. 553
Time for construction extended, April 2
"
"
1853, p- 382
Changed to Middleboro' and Taunton, Mch. 17.
TROY & GREENFIFLD
1848, p. -
Act of incorporation, May 10.
"
"
1849, p. -
May vary location of road. April 17.
"
"
1850, p. --
Time for location extended, May 3.
"
"
1852, p. 205
May unite in one corporation, May 20.
as
"
1852, p. 22
May hold annual meeting in April, Mch. 18.
"
"
1855, p. 781
Towns in the counties of Franklin and Berk-
shire authorized to subscribe, May 18.
"
"
1856, p. 153
Location changed, May 31
"
"
1859, p. 253
Relative to sinking fund, March 1.
"
"
1859, p. 283
Relative to loan for Hoosac Tunnel, March 26
UNION
1848, P -
Act of incorporation, May 10.
Digitized by Google
MASSACHUSETTS-RAILROAD LAWS.
183
Corporate Titles.
Laws.
Abstracts of Laws.
"UNION
1848, p. -
Relative to bridge over Charles River, May 10
"
1849, p. -
Time of filing location extended, April.
"
1852, p. 183
Time for location extended, May 26.
"
1853, p. 445
Relative to construction, April 14.
"
1854, p. 25
Authorised to unite with the Grand Junction
Railroad and Depot Company, Feb. 25.
"
1855, p. 742
Supplement to act of incorporation, May 15.
*UNION MARINE
1852, p. 32
Act of incorporation, March 27.
VERMONT & MASSACHUSETTS
1844, p. -
Act of incorporation, March 15.
"
"
1845, p. -
Relative to sec. 3 of act incorporating, Feb. 28.
"
"
1846, p. -
Time for filing loca.ion extended, March 27.
"
"
1846, p. -
Supplement to act of incorporation, April 16.
"
"
1848, p. -
May purchase Northfield bridge, April 18.
"
"
1849, p. -
Time for construction extended, April 28.
"
"
1850, p. 422
Relative to mortgage of property, April 25.
16
"
1851, p. 806
Authorized to increase stock, May 24.
"
"
1652. p. 143
Authorized to widen its track, May 7.
"
"
1853, p. 438
Supplement to act of incorporation, April 8.
as
"
1856, p. 31
May mortgage road, March 21.
"
"
1856, p. 148
Relative to terms, etc., of mortgage, Mch. 31.
*WALPOLE
1846, p. -
Act of incorporation, April 16.
*WALTHAM & NEWTOWN BRANCH
1848, p. -
Act of incorporation, April 21.
"
"
"
!849, p. -
Time for construction extended, April 4.
WALTHAM & WATERTOWN BRANCH
1849. p. -
Act of incorporation, May 2.
"
"
"
1851, p. 595
Authorized to change location, April 29.
*WALTHAM & WATERTOWN
1855, p. 806
Act of incorporation. May 19.
"
"
1857, p. 488
Authorised to extend road, April 9.
"WARE RIVER
1851, p. 817
Act of incorporation, May 24.
"
"
1853, p. 408
Time for construction extended, March 24.
"
"
1855, P 611
Time for construction extended, April 14.
"
"
1857, p. 477
Time for location extended, May 7.
WATERTOWN BRANCH
1846, P -
Act of incorporation, April 16.
"
"
1847, p. -
Time for construction extended, April 23.
WESTERN
1833, p. -
Act of incorporation, March 15.
"
1836, p. -
State may subscribe for shares, April 4.
"
1837, p. -
Relative to payment of subscription, April 15
"
1837, p. -
Relative to compensation of Directors, Apl. 13.
"
1838, p. -
Act to aid in construction, February 21.
"
1838, p. -
Relative to location of road, March 17.
"
1839, p. -
Relative to sinking fund, March 13.
"
1839, p. -
Act to aid in construction, March 23.
"
1841, p. -
Act to complete construction, March 18.
"
1844, p. -
Relative to payment of subscriptions, Feb. 23.
"
1845, p. -
Relative to electionof State Directors, Feb. 10.
"
1845, p. -
Relative to sinking fund, February 26.
"
1845, p. -
May enter upon Boston and Worcester, Mh. 25.
64
1845, p. -
May increase capital stock, March 25.
"
1845, p. -
Additional to act increasing capital March 26.
"
1845, p. -
Relative to payment of Directors, March 22.
"
1846, p -
Authorised to construct a branch, April 16.
"
1847, p. -
May increase capital stock, April 24.
"
1847, p. -
Relative to sinking fund, April 26.
"
1848, p. -
May increase capital stock, May 9.
"
1850, p. -
Relative to sinking fund, April 13.
"
1850, p. 396
Income to be paid to the State, April 13.
"
1852, p. 801
Relative to Commissioners' rights, May 24.
"
1855, p. -
May purchase Hudson & Boston RR., May 15.
"
1855, p. 872
Authorized to issue scrip, May 21.
"
1859, p. 338
Authorized to issue bonds, April 5.
"WESTERN AVENUE
1854, p. 358
Act of incorporation, April 29.
"
"
1856, p. 16
Time for construction extended, February 26.
"WEIR BRANCH
1847, p. -
Act of incorporation, April 16.
WEST CAMBRIDGE (HORSE)
1857, p. 593
Act of incorporation, May 28.
*WEST DEDHAM BRANCH.
1854, p. 298
Act of incorporation, April 15.
WEST ROXBURY
1856, p. 117
Act of incorporation, May 28.
"
"
1856, p. 564
Supplement to act of incorporation, May 26.
"
"
1858, p. 28
Supplement to act of incorporation, March 5.
WEST STOCKBRIDGE
1836, p. -
Act of incorporation, April 5.
Digitized by Google
184
MASSACHUSETTS-RAILROAD LAWS.
Corporate Titles.
Laws.
Abstract of Laws.
WEST STOCKBRIDGE
1839, p. -
Time for filing location extended, Jan. 27.
"
"
1840, p. -
Time for filing location extended, March 20.
*WEST STOCKBRIDGE BRANCH
1855, p. 802
Act of incorporation, May 19.
"WESTFIELD & NORTHAMPTON
1853, p. -
May unite with Hampden and Shelburne Falls
Railroad, May 25.
*WEST NEWBURY
1851, p. 648
Act of incorporation, May 21.
*WILLIAMSTOWN & HANCOCK
1852, p. 102
Act of incorporation, April 24.
"
1853, p. 455
May unite with Lebanon Springs, April 21.
WILMINGTON BRANCH
1850, p. 427
Act of incorporation, April 26.
"WILMINGTON & CAMBRIDGE
1851, p. 734
Act of incorporation, May 23.
WINCHENDON
1845, p. -
Act of incorporation, March 13.
"
1846, p. -
Authorized to extend road, April 16.
WINNISIMMET (HORSE)
1857, p. 559
Act of incorporation, May 26
*WOBURN BRANCH
1844, p. -
Act of incorporation, March 16.
WOLURN BRANCH EXTENSION
1847, p. -
Act of incorporation, April 23.
"WORCESTER
1829, p. -
Act of incorporation, June 12.
WORCESTER BRANCH
1841, p. -
Act of incorporation, March 17.
"
"
1844, p. -
Time for completion extended, February 5.
WORCESTER & NASHUA
1845, p. -
Act of incorporation, March 5.
"
"
1851, p. 689
Authorized to increase capital stock, May 22.
WORCESTER & NORWICH
1833, p. -
Act of incorporation, March 15.
"
"
1836, p. -
Time for location extended, April 9.
"
"
1836, p. -
May unite with Boston, Norwich and New
London Company, April 10.
6.
"
1837, p. -
May aid construction of Norwich and Worces-
ter Railroad, March 20.
"
"
1845, p. -
May subscribe to Worcester & Nashua, Mh. 26.
"
"
1848, p. -
May increase capital stock, April 26.
"
"
1849, p. -
Claim of the State released, May 2.
"
"
1850, p. --
Capital stock increased, April 13.
*WRENTHAM BRANCH
1852, p 413
Act of incorporation, May 24.
*WRENTHAM & FOXBORO'
1846, p. -
Act of incorporation, April 16.
Digitized by Google
STATE OF RHODE ISLAND.
BOSTON AND PROVIDENCE.
NEW YORK, PROVIDENCE AND BOSTON.
HARTFORD, PROVIDENCE AND FISHKILL.
PROVIDENCE AND WORCESTER.
NEW YORK AND BOSTON.
PROVIDENCE, WARREN AND BRISTOL.
The New York, Providence and Boston, commonly known as the Stoning-
ton Railroad, was the first railroad constructed in the State of Rhode Island.
Its construction was commenced in 1835 and completed in the latter part of
1837. The Company soon thereafter became embarrassed in its finances, and
obtained relief by a compromise with its creditors in 1844, whereby their
claims were reduced from $1,300,000 to $650,000. By the terms of the
compromise the sum of $50,000 annually was to be applied as a sinking fund
for the retirement of the Company's bonds, which have been thereby reduced
to $312,900. In addition, the Company has paid dividends averaging 3 per
cent. annually.
No other road was constructed in the State till 1847, when the Providence
and Worcester Railroad was opened, and the line of the Boston and Provi-
dence changed, 80 as to enter Providence on the west side of the city. Both
of these roads have been described among the railroads of the State of Massa-
chusetts.
In 1854, the Hartford, Providence and Fishkill Railroad was opened
between Providence and Hartford. Toward the construction of this road
the city of Providence loaned its credit to the amount of $500,000 in its six
per cent. bonds, taking as security therefor the bonds of the Company, bearing
7 per cent. interest-the difference between the two rates to constitute a
sinking fund for the payment of the city bonds. The road has been unpro-
ductive on its stock, and is in default on its bonds. It is more particularly
described among the railroads of Connecticut.
The road next constructed was the Providence, Warren and Bristol, which
was opened in 1854. This road has been unproductive on its stock, and has
been in default in the interest on its bonds for several years past. These
bonds have been recently converted into a preferred six per cent. stock, and
cancelled.
The only road in progress is the New York and Boston, on which about
$150,000 has been expended. No portion of it has been completed. The
work of construction on it is now suspended. It is designed to form a
portion of a road of the same name, lying partly in the States of Connecticut
and Maseachusetts.
24
185
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Google
186
RAILROADS IN THE STATE OF RHODE ISLAND.
STATEMENT showing the Share Capital, Indebtedness, Cost, Mileage, Receipts for transportation of Passengers, Receipts for transportation of
Freight, Receipts for transportation of Mails, Operating Expenses, Net Earnings, and Dividends paid by the Railroad Companies
of the State of Rhode Island, for each year since 1834-'44:
Capital Account
Cost of
Length
Gross Earnings
Operating Earnings Amount
Year.
Share
Funded
Floating
Total
Road &
of
Passenger
Freight Mail, etc., Total
Expenses
less
of
Capital.
Debt.
Debt.
Capital.
Equipment.
Road.
Earnings.
Earnings.
Earnings.
Earnings.
&
Repairs.
Expenses.
Dividend.
Year.
1844
$1,300,000
$650,000
$
$1,950,000
$1,950,000
50.00
$102,138
$39,762
$12,924
$154,724
$111,410
$43,314
nil.
1844
1845
1,300,000
619,740
1,919,740
1,919,740
50.00
78,569
37,586
13,860
130,015
88,699
41,316
"
1845
1846
1,300,000
602,140
1,902,140
1,902,140
50.00
86,049
41,796
10,997
138,842
91,031
47,811
32,500
1846
1847
1,300,000
599,300
1,899,300
1,899,300
50.00
129,128
57,056
12,523
198,707
77,824
120,883
65,000
1847
1848
1,300,000
586,650
1,886,650
1,886,650
50 00
117,908
56,469
6,764
181,141
86,104
95,037
65,000
1848
1849
1,300,000
794,280
2,094,280
2,094,280
50.00
117,777
56,479
6,754
181,010
86,230
95,780
16,250
1859
1850
1,300,000
745,946
2,045,946
2,045,946
50.00
116,276
64,495
5.739
186,510
91,197
95,313
nil
1850
1851
1,300,000
699,946
1,999,946
1,999,946
50.00
128,043
73,289
5,916
207,248
89,508
117,740
65,000
1851
1852
1,508,000
485,000
1,993,000
1,893,000
50.00
134,410
63,802
13,198
211,410
99,359
112,051
75,384
1852
1853
1,508,000
467,700
1,975,700
1,976,700
50.00
144,140
84,422
12,077
240.571
95,810
144,761
105,559
1853
1854
1,508,000
445,700
1,953,700
1,953,700
50.00
175,439
102,027
11,649
289,115
121,518
167,597
45,239
1854
1855
1,784,600
540,200
12,000
2,336,800
2,363,860
63.60
167,692
108,878
10,009
266,579
178,957
107,922
37,692
1855
STATE OF RHODE ISLAND.
1856
1,789,337
517,200
31,206
2,337,743
2,338,200
63.60
172,964
101,141
9,865
284,270
198,253
86,017
37,692
1856
1857
1,792,717
474,200
36,507
2,303,424
2,305,838
63.60
166,372
101,348
8,759
276,479
179,432
97,047
37,692
1857
1858
1,795,917
438,436
36,139
2,270,492
3,272,756
63.60
137,339
79,092
10,415
226,846
134,655
92,191
37,692
1858
1859
1,795,917
422,836
36,139
1,254,892
3,258,567
63.60
166,616
110,613
7,663
284,892
163,737
121,155
75,384
1859
16 years
$23,882,488
$9,089,274
$151,991
$33,123,753
$33,097,623
868 00
$2,140,860
$1,178,555
$158,012
$3,477,427
$1,893,724
$1,583,703
$709,253
16 yrs.
Average
1,492,655
568,079
9,479
2,070,234
2,068,601
54.25
133,804
73,659
9,876
217,339
118,358
98,981
44,334
Aver.
Digitized by Google
The total liabilities of the Railroad Companies of the State are $2,254,892, of which $1,795,917 are in stock ; $422,836 in funded debt, and $36,139 in
floating debt. Of the stock, $1,508,000 are productive, and $287,917 unproductive. Of the debts, $422,836 are productive, and $36,139 unproductive. The
rate of gross earnings upon the liabilities of the Companies and the cost of the roads is about 101 per cent. ; and the net earnings about 4.7 per cent. The
dividends have averaged about 3 per cent. on the aggregate share capitals.
RHODE ISLAND-NEW YORK, PROVIDENCE AND BOSTON.
RAILROADS OF THE STATE IN DETAIL.
BOSTON AND PROVIDENCE RAILROAD.
(See Boston and Providence Railroad of Massachusetts.)
NEW YORK, PROVIDENCE AND BOSTON RAILROAD.
(Financial year ending 31st August, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
Thomas Tileston
New York City, N.Y.
William F. Cary
New York City, N.Y.
Samuel D. Babcock
"
"
Samuel Sloan
"
"
William H. Macy
"
"
James J. Day
Stonington, Conn.
Hamilton Blydenburgh,
"
"
Nathan F. Dixon
Westerly, R.I.
MATHEW MORGAN, President
New York City, N.Y.
FRANCIS Amy, Treasurer
Stonington, Conn.
A. S. MATHEWS, Superintendent
"
"
PRINCIPAL OFFICE
No. 27 William street, NEW YORK CITY, N.Y.
LENGTH OF RoAD-Providence, R.I., to Stonington, Ct
50 miles.
Second track, sidings, turnouts, etc., 2 miles.
ROLLING Srock-Locomotive engines
11
Cars :-Passenger, 15; baggage, mail and express, 8; freight, etc., 87
110
The New York, Providence and Boston Railroad Company is a consolidation of
of the company of the same name chartered in Rhode Island in June, 1832,
and the New York and Stonington Railroad Company chartered in Connec-
ticut in May, 1832. The act of consolidation was passed by the Legislature
of Connecticut in May and of Rhode Island in June, 1833, and the two com-
panies were merged on the 1st July of the same year. The road was com-
pleted and opened for public use in the fall of 1837, and ten years later was
extended into Providence and to a connection with the Providence and
Worcester, and Boston and Providence Railroads, At the date of the com-
pletion of the road its total cost was $2,600,000, in equal parts of share
capital and bonds. The Company soon fell into embarrassment, and in 1844
found itself owing $1,900,000. To relieve it, and at the same time to
exchange for a new security one of doubtful validity, a compromise was
proposed, whereby the creditors agreed to receive $650,000 new bonds in
full discharge of their debts. By the terms of the compromise, $50,000 was
to be annually appropriated toward the principal and interest of the new
bonds. The sums so appropriated, at the date of the last fiscal report of
the company, had reduced the bonded debt to $312,900. From the date of
the compromise, the nominal cost of the road, by the application of the sink-
ing, was steadily reduced till 1848, when the sum of $215,280 was raised for
the purpose of extending the road into Providence, on the west side of the
town. For this object, Extension Bonds were issued, fulling due 1852.
These were paid by an issue of 6 per cent. preferred stock, to the amount
of $208,000, increasing the amount of stock issued to $1,508,000-the origi-
nal amount having been $1,300,000. The holders of the old stock were
privileged to subscribe 16 new shares to every 100 old shares held by them.
On the 1st November, 1859, the Company took a lease for five years of
187
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188
RHODE ISLAND-PROVIDENCE AND WORCESTER.
that portion of the New Haven, New London and Stonington Railroad
between New London and Stonington, at one-half its gross earnings.
SHARE CAPITAL-Authorized and paid in, $1,508,000 in 15,080 $100 shares.
A stockholder on subscribing and paying 4 shares of new, and on surren-
dering 25 of old, was entitled to receive 29 shares of preferred. All the
stockholders availed themselves of this privilege, and the share capital, con-
sequently, is now of one class.
FUNDED DEBT-$312,900 : described as follows—
1st Mortgage, 6 per cent., bonds
$312,900
-dated 1st August, 1843, and payable, principal in 20 years, and interest
semi-annually, 1st February and 1st August, in New York City. The
Company holds $6,000 of this issue; and $400 are due but not presented.
COST OF ROAD AND EQUIPMENT-$2,158,000.
INCOME ACCOUNT FOR THE YEAR ENDING 31sT AUGUST, 1858.
Receipts-
Disbursements-
Passenger earnings
$147,079
General expenses, fuel, etc
$83,332
Freight
"
104,574
Repairs of road and machinery
44,872
Mail
"
$7,50
New cars, $5,054, and engines, $7,456
12,510
Less amount due
2,411-
5,089
Interest on bonds
20,065
Interest
1,299
Six per cent. bonds paid
2,100
Balance, 31st August, '58
8,802
Dividend 5 per cent
$75,385
Less unclaimed
2,122-73,263
Paid unclaimed dividends
175
Balance in cash
30,526
Total
$266,843
Total
$266,843
The Company publish no general statement.
CosT, NET EARNINGS, EXPENSES, ETC., YEARLY.
Cost of Miles.
Gross Earnings
Operating
Net
-Div-
Year. Road, &c. of
Road.
Pass'r.
Freight. Mails, etc. Total.
expenses.
Earnings,
$
p.c.
1844
$1,940,000
50
$102,138
$39,762
$12,824
$154,724
$111,410
$43,314
nil.
nil
1845
1,919,740
50
78,569
37,586
13,860
130,015
88,699
41,316
"
"
1846
1,902,140
50
86,049
41,796
10,997
138,842
91.031
47,811
32,500
2t
1847
1,899,300
50
129,128
57,056
12,523
198,707
77,824
120,883
65,000
5
1848
1,886,650
50
117,908
56,469
6,764
181,141
86,104
95,037
65,000
5
1849
2,094,280
50
117,777
56,479
6,754
181,010
86,230
95,780
19,500
11
1850
2,045,946
50
116,276
64,495
5,739
186,510
91,197
95,313
nil.
nil.
1851
1,999,946
50
128,043
73,289
5,916
207,248
89,508
117,740
75,019
5
1852
1,993,000
50
134,410
63,802
13,198
211,410
99,359
112,051
75,384
5
1853
1,975,700
50
144,140
84,422
12,077
240,571
95,810
144,761
105,559
7
1854
1,953,700
50
175,439
102,027
11,649
289,115
121,518
167,597
45,239
3
1855
1,954,700
50
154,667
107,776
9,904
272,347
169,981
102,366
37,692
21
1856
1,909,700
50
144,339
96,374
8,943
249,656
180,769
68,887
37,692
21
1857
1,866,700
50
141,251
94,842
7,642
243,735
150,040
93,695
37,692
21
1858
1,836,500
50
120,684
74,056
9,101
203,841
112,928
90,915
37,692
21
1859
1,820,900
50
147,079
104,574
6,388
258,041
140,714
117,327
75,384
5
16 yrs. 30,956,902
800
2,037,897
1,154,805
153,279
3,345,981
1,793,122
1,552,859
709,353
Aver 1,934,806
50
127,368
72,175
9,530
209,123
112,070
97,053
44,334
3
PROVIDENCE AND PLAINFIELD RAILROAD.
(See Hartford, Providence and Fishkill Railroad of Connecticut.
PROVIDENCE AND WORCESTER RAILROAD.
(See Providence and Worcester Railroad of Massachusetts.)
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RHODE ISLAND-PROVIDENCE, WARREN AND BRISTOL.
189
PROVIDENCE, WARREN AND BRISTOL RAILROAD.
(Financial year ending 30th November, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
Thomas G. Turner
Warren, R.I.
Leon Chappotin
Providence, R,I.
Amos D. Smith
Providence, "
William Goddard
"
"
Robert H. Ives
"
"
Samuel W. Church
Bristol, "
Marshall Wood
"
"
W. Phelps
Springfield, Mass.
CHARLES T. CHILD, President
Warren, R.I.
LEON CHAPPOTIN, Treasurer and Secretary
Providence,
"
L. M. E. STONE, Superintendent and Chief Engineer
"
"
PRINCIPAL OFFICE
PROVIDENCE. Providence Co., R.I.
LENGTH OF RoAD-India Point, East Providence, to Bristol, R.I.
13.60 miles.
Sidings and other track, 0.41 miles.
ROLLING STOcK-Merchandise cars, 3, and gravel cars, 2
5
Locomotives and passenger cars are furnished by Boston and Providence Company.
The Providence, Warren and Bristol Railroad Company is a consolidation of
two companies of the same name, the one charteted by the Rhode Island
Legislature in October, 1846, and the other by the Massachusetts Legislature
in April, 1847. The United Company was organized on the 9th July, 1853,
and in September the work of construction was commenced. The road was
completed and opened for public use in the summer of 1855.
SHARE CAPITAL-Authorized and issued, $292,000, in 2,920 $100 shares.
Paid in,
$287,917, on
"
-
FUNDED DEBT
$109,936
FLOATING DEBT
$36,139
-making a total debt of $146,075, all of which has been retired by an issue
in January, 1860, of $150,000 preferred stock, bearing 6 per cent. interest
per annum, payable out of the net earnings of the Company.
COST OF ROAD AND EQUIPMENT, BTc.-$437,667 : in detail as follows—
Graduation and masonry
$144,656
Land, land-damages and fences
$81,816
Wooden bridges
8,616
Merchandise cars
1,558
Superstructure, including iron
138,243
Engineering, etc
14,846
Stations, buildings and fixtures
25,380
Agencies and other expenses
22,614
INCOME ACCOUNT FOR THE YEAR ENDING 30тп NOVEMBER, 1859.
Receipts-
Disbursements-
Passenger earnings
$19,537
Operating expenses
$23,023
Freight
"
6,039
Interest paid
977
Mails and express
1,275
Earnings less expenses
2,851
Total
$26,851
Total
$26,851
COST, EARNINGS, EXPENSES, ETC., YEARLY.
Cost of Road, Mile-
Gross Earnings
Operating Earnings,
-Div.-
Year. & equip't.
age.
Pass'r.
Freight.
Mails,&c.
Total.
expenses.
less exp.
$
p.c.
1855
$409,160
13.6
$13,025
$1,102
8105
$14,232
$8,976
$5,256
nil.
nil.
1856
428,500
13.6
28,625
5,067
922
34,614
17,484
17,130
"
"
1867
439,138
13.6
25,121
6,506
1,117
32,744
29,392
3,542
"
"
1858
436,256
13.6
16,655
5,036
1,314
23,005
21,727
1,278
"
"
1859
437,667
13.6
19,537
6,039
1,275
26,851
23,023
3,828
"
"
5 yrs
2,150,721
68.0
102,963
23,750
4,733
131,446
100,602
30,844
"
"
Aver.
430,144
13.6
20,592
4,750
947
26,289
20,120
6,169
"
"
# Exclusive of charges for locomotives and cars, provided by the Boston and Providence Rail-
road Campany, which are not stated, and for which the " net earnings" are liable.
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100
RHODE ISLAND--NEW YORK AND BOSTON.
NEW YORK AND BOSTON RAILROAD.
LENGTH OF RoAD-State Line of Connecticut to State Line of Mass
32.50 miles.
The Woonsocket Union Railroad Company was chartered in August, 1850,
with a capital of $650,000, and consolidated into the New York and Boston
Railroad Company of Connecticut under the corporate name of the latter in
the year 1854. In the following year the joint company united with the
Charles River Railroad of Massachusetts. The object of this road is to
make a direct route from New York, via New Haven to the city of Boston.
The latest report of the Company is that made to the stockholders on the
3d October, 1856. Since then nothing further has been effected in the con-
struction of the work. The financial condition of the Rhode Island Com-
pany, according to the report of 1856 (the last published), was as follows
GENERAL STATEMENT, 3D OCTOBER, 1859.
Dr.
C,
Graduation and masonry
$131,992
Capital paid in
$114,375
Land, land damages, etc
9,363
Bills payable
27,675
Engineering
7,672
Due individuals
8,450
Agencies and expense account
1,715
Due Connecticut
2,812
Interest
1,459
Individual accounts
1,111
Total
$153,312
Total
$153,312
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LAWS OF THE STATE IN REFERENCE TO RAILROADS.
List of all the Railroad Companies chartered in the State of Rhode
Island, with the dates of the Acts of their incorporation; and also the dates
and abstracts of all laws passed by the Legislature in reference thereto.
The asterisk [*] prefixed signifies that the work of construction has not been commenced.
Corporate Titles.
Laws.
Abstracts of Laws.
BOSTON & PROVIDENCE RR. & TRANS-
PORTATION
1834, p. -
Act of incorporation, May.
"
"
"
1835, p. -
May construct road over Seekonk River, Jan.
"
44
"
1837, p. -
Relative to steamboats, June.
"
"
"
1842, p. -
May maintain ferry over Provid'ce River, Oct.
4.
"
"
1851, p. -
May take stock in Prov. and Plainfield May
"
"
"
1853, p. -
Changed to Boston and Providence, June
"FALL RIVER & PROVIDENCE
1835, p. -
Act of incorporation, October.
HARTFORD, PROVIDENCE & FISHKILL
1859, p. -
Relative to bonds, January.
"
"
"
1860, p. -
Time of filing claims against, extended, Jan.
"New BEDFORD & FALL RIVER
1836, p. -
Act of incorporation, June.
NEW YORK & BOSTON
1851, p. --
Authorised to increase capital stock, June.
"
"
"
1858, p. -
Relative to Woonsocket Union RR., January.
"
"
"
1858, p. -
Relative to contracts made with New Haven,
New London and Stopington RR, May.
NEW YORK, PROVIDENCE & BOSTON.
1832, p. -
Act to incorporate, June.
"
"
"
"
1833, p. -
May unite with York and Stonington, June
"
"
"
"
1836, p. -
Supplement to act of incorporation, June
as
"
"
"
1840, P. --
Authorized to increase stock, January.
"
"
"
"
1841, p. -
May extend road into Providence, January.
"
"
"
"
1846, p. -
Relative to construction of rond, etc., October.
"
"
"
"
1847, p. -
May increase capital stock, May.
"NEWPORT & FALL RIVER
1846, p. -
Act of incorporation. May
"
"
"
1849, p. -
Time for organiztng extended, January.
*PAWTUCKET & PROV. E. TURNPIKE
1837, p. -
Authorized to construct a railroad, January.
6.
"
"
1837, p. -
Supplement to act of incorporation, January.
PROVIDENCE & BOSTON
1831, p. -
Act of incorporation, October
14
"
1832, p. -
Relative to powers, January.
"
"
1833, p. -
Amends act of incorporation, January.
*PROVIDENCE & BRISTOL
1850, p. -
Act of incorporation, October.
"
"
1852. p. -
Changed to Prov., Warren and Bristol, Jan.
"
"
1856, p. -
Authorised to issue scrip, January.
PROVIDENCE & PLAINFIELD.
1846, p. -
Act of incorporation, June.
"
"
1851, p. -
Authorised to borrow money, January.
"
"
1851, p. -
City of Providence authorized to loan to, Jan.
"
"
1852, p. -
United with Hartford, Prov., & Fishkill, Jan.
PROVIDENCE, WARREN & BRISTOL
1852, p. -
Changed from Providence and Bristol, June.
"
"
"
1853, p. -
Time for location extended, May.
"PROV., WARREN & FALL RIVER
1846, p. -
Act of incorporation, October.
PROVIDENCE & WORCESTER
1844, p. -
Act of incorporation, May.
"
"
1845, p. -
Relative to shares, June.
"
"
1845, p. -
Relative to the powers of, October.
"
44
1852, p -
Relative to placing flagman at crossing, Oct.
*RHODE ISLAND & CONNECTICUT
1832, p. -
Act of incorporation, June.
STONINGTON
1856, p. 158
Relative to payment of witnesses, January.
*WARREN & FALL RIVER
1856, p. 106
Act of incorporation, May.
"
"
"
1859, p. 38
Charter amended, May.
"Woonsocket & MILFORD
1848, p. -
Act of incorporation, June.
$6
"
1850, p. -
Relative to completion of road, August.
"
"
1850, p. -
Charter amended, August.
"
"
1852, p. -
Time for location extended June.
"
"
1852, p. -
All doings of stockholders legalized, October.
WOONSOCKET UNION
1850, p. -
Act of incorporation, August.
191
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STATE OF CONNECTICUT.
BOSTON AND NEW YORK CENTRAL.
NAUGATUCK.
DANBURY AND NORWALK.
NEW HAVEN AND NORTHAMPTON.
EAST THOMPSON.
N. HAVEN, N. LONDON & STONINGTON.
FARMINGTON VALLEY.
N. LONDON, WILLIMANTIC & PALMER.
HARTFORD AND NEW HAVEN.
NEW YORK AND BOSTON.
HARTFORD, PROVIDENCE & FISHKILL.
NEW YORK AND NEW HAVEN.
HOUSATONIC.
NORWICH AND WORCESTER.
The Railroad first constructed in the State of Connecticut was the Hart-.
ford and New Haven, which was commenced in 1836, and about one-half
of the distance between Hartford and New Haven opened in 1838. It was
completed between these points in 1839. In 1844, the entire line from New
Haven to Springfield was opened. It has since its completion been a suc-
cessful work, having paid dividends at the average rate of 10 per cent. per
annum.
The Railroad next opened was the Norwich and Worcester, which was
completed for its whole length early in 1840. It has not been a productive
work to its stockholders, having paid dividends at the rate of only 1.5 per cent.
The third Railroad opened was the Housatonic. Its construction was
commenced in 1837, and completed in 1342., It has been an unfortunate
enterprise, having paid nothing to the holders of its common stock, and
nothing on its preferred stock since April, 1850. One cause of its ill-success
has been the leases taken of the Berkshire, and Stockbridge and Pittsfield
Railroads, on which the Housatonic Company pays 7 per cent. on the cost
of these roads, which form the least productive part of its line. The rent
paid amounts in the aggregate to $74,407 annually, the greater part of which
is probably a loss to the Housatonic Company.
The fourth Railroad was the New Haven and Northampton, a portion of
which, to Plainville, was opened in 1847. It was completed to Granby in
1850. In that year it was leased till 1869 to the New York and New
Haven, at a rental which has averaged about $71,000 annually. The road
has been run in the mean time at a loss, after payment of rent, of $37,687
annually. The entire loss to the New York and New Haven, and Hartford
and New Haven Companies for 10 years past on account of this lease has
probably equaled $500,000. The case is a good illustration of the danger
of entering into leases having a long time to run, for the absolute payment
of large sums where the amount of income of the leased road is a mere
matter of estimation. The rent paid has enabled a road, otherwise unpro-
192
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STATE OF CONNECTICUT.
193
ductive, to pay regular dividends out of the earnings of another company
which is compelled to forego them.
In 1849, the Naugatuck Railroad was opened. This road has paid divi-
dends averaging 2.7 per cent. annually.
In 1850, the New York and New Haven was opened. This road, though
in possession of a large income, has paid dividends only at the rate of 2.6
per cent. annually. The company have lost $356,442 on account of the New
Haven and Northampton Railroad, and $376,842 by the Norwalk accident.
For several years past it has made large expenditures from earnings upon
its road. In 1854 a fraudulent issue of stock, to a large amount, was made
by the President and Transfer Agent of the Company. These issues have
not been recognized by the Company.
The New London, Willimantic and Palmer was opened in 1851. It has
.proved an unfortunate enterprise, and, having failed to pay the interest on
its funded debts, its first mortgage has been foreclosed, and a new company
formed under title of the New London Northern Railroad Company.
In 1853, three roads having an aggregate mileage of 124.77 miles were
opened, viz: the Danbury and Norwalk, 24 miles; the Hartford, Providence
and Fishkill, 50.77 miles, and the New Haven and New London, 50 miles.
The Danbury and Norwalk has paid dividends averaging 4:4 per cent. The
Hartford, Providence and Fishkill, a portion of which was opened prior to
1853, has been an unfortunate enterprise, and is now in the hands of trustees
under its first mortgage for the non-payment of interest. The New Haven,
New London and Stonington, which is a consolidation of the New Haven
and New London, and the New London'and Stonington Railroad Companies,
has also been an unproductive work, having made default in the interest on
all its bonds.
A portion of the New York and Boston has been graded, but not brought
into use. The Boston and New York Central and the East Thompson Rail-
roads have been operated by the Boston and New York Central, and the
Midland of Massachusetts.
STATEMENT, showing the Share Capital and Debts of the several Railroad Companies of the
State of Connecticut, with the amount of productive, and unproductive capital in each :
Corporate Titles of
Share Capital
Funded
Total Indebtedness
Companies.
Total. Productive. Unprod.
Debt.
Am't. Productive. Unprod
Danbury & Norwalk
$279,050
$279,050
$
$92,000
$93,256
$93,256
Hartford & New Haven
2,350,000
2,350,000
964,000
964,000
964,000
Hartford, Providence &
Fishkill
2,042,540
2,042,540
2,055,500
2,161,692
2,161,692
Housatonic
2,000,000
2,000,000
232,000
355,175
355,175
Naugatuck
1,031,800
1,031,800
287,350
334,096
334,096
New Haven, New London
Stonington
738,538
738,538
846,452
846,452
846,452
N. Haven & Northampton
922,500
922,500
700,000
700,000
700,000
N. London, Willimantic &
Palmer
510,900
510,900
1,052,000
1,052,000
1,052,000
New York & New Haven.
2,980,839
2,980,839
2,219,000
2,219,000
2,219,000
Norwich & Worcester
2,122,300
2,122,300
714,998
775,280
775,280
Total
14,978,467
7,564,189
7,414,278
9,163,300
9,500,951
7,602,499
1,898,452
25
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RAILROADS IN THE STATE OF CONNECTICUT.
194
STATEMENT showing the Share Capital, Indebtedness, Cost, Mileage, Receipts for transportation of Passengers, Receipts for transportation of
Freight, Receipts for transportation of Mails, Operating Expenses, Net Earnings, and Dividends paid by the Railroad Companies
of the State of Connecticut, for each year, since the opening of the first road in 1839:
Capital Account
Cost of
Length
Gross Earnings
Operating Earnings Amount
Year.
Share
Funded
Floating
Total
Road &
of
Passenger
Freight Mail, etc., Total
Expenses
less
of
Capital.
Debt.
Debt.
Capital.
Equipment.
Rond.
Earnings.
Earnings.
Earnings.
Earnings.
&
Repairs.
Expenses.
Dividend.
Year.
1839
$500,000
$200,000
$29,606
$729,606
$729,606
18.13
$20,000
$10,000
$1,933
$31,933
$11,500
$20,433
nil.
1839
1840
2,150,000
450,000
28,592
2,628,592
2,628,592
102.22
118,889
53,754
9,021
181,664
75,655
106,009
"
1840
1841
2,300,000
700,000
23,373
3,023,373
3,023,373
102.22
154,334
82,594
9,638
246,566
108,075
138,491
24,000
1841
1842
3,323,812
1,120,310
19,525
4,463,647
4,340,985
176.22
189,343
130,419
20,673
340,435
151,782
188,653
32,000
1842
1843
3,323,812
1,067,364
66,977
4,358,153
4,380,215
176.22
190,856
159,105
25,837
375,798
206.227
169,571
27,000
1843
1844
3,600,000
1,367,364
56,500
5,023,864
4,708,206
176.22
255,654
193.788
30,370
479,812
206,147
273,665
95,000 1844
1845
4,050,000
1,600,000
121,720
5,771,720
5.268,591
201.75
286,201
237,665
28.915
552,781
252,436
300,345
117,000
1845
1846
4,730,000
1,631,000
150,000
6,511,000
5,422,888
201.75
323,909
290,750
36,135
650,794
387,848
262,946
86,865 1846
1847
4,926,318
1,798,000
139,211
6.863,529
5,928,418
201.75
404,415
369,229
42,934
816,578
453,485
363,093
111,060
1847
1848
5,317,200
2,177,000
82,117
7,576,317
6,942,652
201.75
443,604
425,006
53,989
922,599
420,010
502,589
136,000
1848
1849
6,588,500
2,231,373
163,957
8,983,830
8,334,070
288.75
502,849
470,685
62,934
1,036,468
472,788
563,660
160,000
1849
1850
10,122,269
3,308,973
490,764
13,922,006
13,720,451
408.63
1,023,068
624,786
124,918
1,772,772
941,607
831,165
503,832
1850
1851
11,007,999
4,967,823
545,144
16,520,966
15,494,995
452.63
1,308,704
702,760
151,188
2,162,652
1,139,936
1,022,716
521,522
1851
1852
11,859,498
5,854,600
681,704
18,395,802
16,962,696
452.63
1,299,927
774,763
160,156
2,234,846
1,308,718
926,128
640,738
1852
1853
14,336,309
7,428,180
728,999
22,493,488
22,438,326
577.40
1,553,800
936,951
187,442
2,678,193
1,518,357
1,159,836
451,102
1853
STATE OF CONNECTICUT.
1854
14,831,962
8,011.955
1,039,846
23,883,763
23,151,765
633.85
1,800,668
1,032,533
207,768
3,040,969
1,900,563
1,140,406
438,594
1854
1855.
14,942,337
8,517.167
991,719
24,451,223
23,993,028
648 99
1,809,194
1,058,792
225,662
3,093,648
1,828,401
1,265,247
338,657
1855
1856..
14,953,127
8,779.897
602,454
24,335,478
24,111,787
653.65
1,785,134
1,177,795
240,957
3,203,886
1,924,716
1,279,170
280,271
1856
1857
14.977,966
8,805,706
827,569
24,611,241
24,204,433
653 65
1,918,938
1,170,874
262,424
3,352,236
2,020,770
1,331,466
378,643
1857
1858
14,978,166
8,572,680
723,823
24,274,669
24,326,885
653.65
1,595,991
997,735
273.532
2,867,258
1,815,046
1,052,212
295,077
1858
1859
14,993,227
9,209,848
553,977
24,757,052
24,747,869
664.65
1,692,220
1,206,309
264,602
3,163,131
1,881,243
1,281,888
418,825
1859
Digitized by
21
yrs
177,812,502
87,799,240
8,067,557
273,679,309
265,359,831
7,646.71
18,677,698
12,106,293
2,421,028
33,205,019
19,025,310
14,179,709
5,056,186
21 yrs.
Aver.
8,467,262
4,180,916
384,169
13,032,347
12,636,182
364.13
889,414
576,490
115,287
1,581,191
905,967
675,224
240,771
Aver.
Google
The total liabilities of all the Railroads Companies are $24,479, 418, viz :-Share capital, $14,978,467 funded debts, $9,163,300 floating debts, $337,651.
Of the share capital, $7,564,189 is productive, and $7,414,278 unproductive. Interest was paid the past year on $7,602,499 of the debts of the companies, and
was not paid on $1,898,452. The aggregate of productive capital is $15,166,688, and of unproductive, $9,312,730.
The rates of gross earnings of all the roads of the State has equaled about 12.50 per cent. of their cost, and of net earnings 5.34 per cent. The rate of
dividends paid on the aggregate share capital has been 2.84 per cent. The ratio of current expenditures to gross earnings has been about 57.29 per cent. The
rate of net earnings would be alightly increased but for the rent paid for leased roads, which is included in current expenditures
RAILROADS OF THE STATE IN DETAIL.
BOSTON AND NEW YORK CENTRAL RAILROAD.
The Boston and New York Central Railroad Company of Connecticut was
chartered in 1849. It is a short link of about 8 miles, designed to connect
the Boston and New York Railroad of Massachusetts, with the Norwich
and Worcester Railroad, in the town of Thompson. It was constructed
in 1853, by the Massachusetts Company, by which it has been operated and
managed. By an act of the Legislature of Connecticut, passed in 1858, it
was transferred to the Midland Railroad Company of Massachusetts,
which see.
DANBURY AND NORWALK RAILROAD.
(Financial year ending 31st July, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
Edgar T. Tweedy
Danbury, Ct.
Jonathan Camp
Norwalk, Ct.
Frederick S. Wildman
"
"
Wm. C. Street
"
"
Lucius P. Hoyt
"
"
Isaac S. Bird
"
"
David R. Nichols
"
"
Frederick Belden
"
"
Asa F. Smith
Norwalk, "
Ebenezer Hill
"
"
Eli T. HOYT, President
Danbury, Ct.
GEORGE W. IVES, Treasurer
"
"
JOHN W. BACON, Superintendent
"
"
PRINCIPAL OFFICE
DANBURY, Fairfield Co., Ct.
LENGTH OF RoAD-Norwalk to Danbury
23.81 miles.
Length of sidings, 1.93 mile.
ROLLING STocK-Locomotive engines
3
rs:-Passenger, 4; freight, 34
38
The Danbury and Norwalk Railroad Company was chartered in May, 1849.
Construction was commenced in 1851, and the road completed in 1852.
SHARE CAPITAL-Authorized, $400,000, in 4,000 $100 shares.
Paid
in,
279,100, in 2,791
"
"
.
FUNDED DEBT-$92,000: in detail as follows-
All 1st Mortgage 7 per cent. coupon bonds issued and made payable
as follows :-$50,000, issued 1st Oct., 1851, and payable 1st Oct., 1861;
$25,000, issued 1st Jan., 1854, and payable 1st July, 1864; $10,000, issued
1st July, 1855, and payable 1st July, 1870, and $7,000, issued 1st Sept.,
1859, and payable 1st Oct., 1880. Interest payable half yearly from the
dates of the respective issues, at the Company's office. The mortgage pro-
vided for an issue of bonds to the amount of $100.000.
GENERAL LEDGER BALANCE SHEET, 1ST AUGUST, 1859.
Dr.
Cr.
Construction
$335,842
Capital stock
$279,100
Equipment
50,873
Bonds
85,000
Real estate
9,183
Bills payable
4,600
Cash and materials for repairs
12,699
Profit and loss
39,897
Total
$408,597
Total
$408,597
195
Digitized by Google
196
CONNECTICUT-EAST THOMPSON.
INCOME ACCOUNT FOR THE YEAR ENDING 31sT JULY., 1859.
Receipts-
Disbursements-
Passenger earnings
$31,756
Salaries and labor
$10,495
Freight
"
39,234
Track repairs
11,492
Mails, express and rents
2,836
Engine and car repairs
8,744
Bridge repairs
1,856
Depot and fence repairs
892
Wood and coal
8,903
Oil and waste
1,116
Loss and damage and expense account.
2,336
Balance earnings
21,992
Total
$73,826
Total
$73,826
COST, EARNINGS, EXPENSES, ETC., YEARLY.
Cost
Mile-
Gross Earnings
Operating
Net
-Div.-
Year.
of Road.
age.
Pass'gers.
Freight.
Mails, etc.
Total.
Expenses.
Earnings.
$
P c.
1853
$369,738
24
$28,839
817,522
$2,469
$48,830
$28,157
$20,673
$14,776
51
1854
378,192
24
28,758
17,628
2,278
48,664
35,653
13,011
nil.
nil.
1855
380,859
24
28,816
25,270
2,155
56,264
34,341
21,923
13,970
5
1856
385,798
24
30,851
27,937
2,346
61,134
35,098
26,036
8,371
3
1857
390,876
24
28,440
30,379
2,726
61,545
34,532
27,013
16,743
6
1858
392,782
24
26,728
26,128
3,188
56,044
35,426
20,618
13,952
5
1859
395,898
24
31,756
39,233
2,836
73,825
45,833
27,992
16,746
6
7 yrs.
$2,694,143
168
204,188
184,097
17,998
406,283
249,040
157,243
84,518
Aver.
384,878
24
29,170
26,299
2,571
58,040
35,577
21,463
12,074
4.3
EAST THOMPSON RAILROAD.
The East Thompson Railroad Company was chartered in 1849. Its line ex-
tended from the line of the Boston and New York Central Railroad in the
north-eastern portion of the Town of Thompson, in direction of the Town of
Webster in Massachusetts, a distance of about 8 miles. Its construction was
undertaken by the parties interested in the Boston and New York Central
Railroad of Massachusetts. According to the last Report of the Railroad
Commissioners of the State of Connecticut, its chartered rights have ex-
pired. (See Midland Railroad of Massachusetts.)
FARMINGTON VALLEY RAILROAD.
The Farmington Valley Railroad Company was chartered in 1849. Its line
extended from Granby to the State line of Massachusetts, a distance of about
41 miles. The Farmington Company having expended $13,340, its road was
sold by the same to the New Haven and Northampton Railroad for $10,000,
payable in six per cent. bonds of that Company, of whose road it now forms
a part.
HARTFORD AND NEW HAVEN RAILROAD.
(Financial year ending 31st August, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
Julius Catlin
Hartford, Ct.
Chester W. Chapin
Springfield, Mass.
Cornelius Vanderbilt
New York, N.Y.
James S. Brooks
Meriden, Ct.
John A. Robinson
"
"
A. G. Hazard
Enfield, "
Thomas R. Trowbridge
New Haven, Ct.
Samuel H. Parsons
Middletown, "
CHARLES F. POND, President
Hartford, Ct.
HORATIO FITCH, Treasurer and Secretary
"
"
E. M. REED Superintendent
"
"
PRINCIPAL OFFICE
HARTFORD, Hartford Co., Ct.
Digitized by
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CONNECTICUT-HARTFORD AND NEW HAVEN.
197
LENGTH OF RoAD-Main Line, Hartford, Ct., to Springfield, Mass., includ-
ing 5.87 miles of road in Massachusetts
61.38 miles.
Branch Line-Berlin Junction to Middletown
9.76 "
"
"
Junction to Hartford City
0.87 "
Total length of Main and Branch Lines
72.01 miles.
Length of second track, 55 miles, and of sidings, etc., 9.54 miles.
ROLLING STocK-Locomotive Engines
18
Cars :-Passenger, (not including New York and Boston Line cars), 21
"
Baggage, 13; freight, 260 ; gravel and wood, 29
302-323
The Hartford and New Haven Railroad Company was chartered in Connecti-
cut in May, 1833, and authorized to construct a road from Hartford to New
Haven, 361 miles. About one-half of the road between these points was
opened for public use in 1838-the balance in 1839. The Company in Mas-
sachusetts was chartered on the 5th April, 1839. In both charters authority
was given for the union of the two companies. The Massachusetts Com-
pany was organized on the 6th Oct., 1841. In 1843 the two companies en-
tered into an agreement for the construction of the Massachusetts portion of
the line by the Connecticut Company, the latter to own and control the same.
Under this agreement its construction was immediately commenced, and
early in December, 1844, the road was opened for public use. The branch
to Middletown was chartered in May, 1844, and opened in March, 1850.
SHARE OAPITAL-Authorized, $2,350,000, in 23,500 $100 shares, viz. :
In Connecticut, $2,050,000
In Massachusetts, 300,000
}
All paid in.
FUNDED DEBT.
1st Mortgage, 6 per cent. coupon bonds
$964,000
-dated 1st Jan., 1853, and payable, principal 1st Jan., 1883, and coupons
semi-annually, 1st Feb. and 1st Aug., in New York.
COST OF ROAD AND EQUIPMENT-$3,362,019 : in detail as follows—
Construction and equipment"
$2,604,285
Locomotive engines
$94,000
Wooden bridges
264,950
Passenger and other cars
160,000
Superstructure, including iron
197,433
Expenditures, 1858-9
41,350
INCOME ACCOUNT FOR THE YEAR ENDING 31sT AUGUST, 1859.
Receipts-
Disbursements-
Passenger
$397,568
Operating expenses
$342,193
Freight
283,713
Dividends
232,902
Mails, expenses, and rents
42,179
Interest
57,198
Cash on hand, 1st Sept., 1858
121,032
Miscellaneous balances
55,287
H., P., and F. Co
280
Cash on hand, 31st Aug., 1859
157,192
Total
$844,772
Total
$844,772
GENERAL LEDGER BALANCE SHEET, 1ST SEPTEMBER, 1859.
Dr.
Cr.
Construction
$3,108,019
Capital stock
$2,350,000
Real estate
62.728
964 bonds
964,000
Equipment
254,000
Reserved Fund
150,000
Tomlinson Bridge Stock
102,888
Contingent Fund
245,400
Wood, stock and tools
132,503
Profit and Loss Account
206,569
Debts due the Company
115,102
Dividend unpaid
5,382
Cash on hand
157,192
Credit to Tomlinson Bridge Co
8,864
Debts due by the Company
2,217
Total
$3,932,432
Total
$3,932,432
# Original cost of road.
Digitized by
Google
198
CONNECTICUT-HARTFORD, PROVIDENCE AND FISHKILL
COST, EARNINGS, EXPENSES, ETC., YEARLY.
Cost of
Miles.
Gross Earnings
Operating
Earn'gs,
Div
Year.
Road, &c.
of
Road.
Passen'r.
Freight.
Mails,etc.
Total.
expenses.
less exp.
$
p.o.
'39
$729,606
18.13
$
$
$
$31,933
$11,500
$20,433
nil.
nil.
'40
851,121
36.22
65,147
23,152
41,995
"
"
'41
866,336
36.22
91,305
29,270
62,035
24,000
3
'42
960,963
36.22
90,760
30,429
60,331
32,000
4
'43
969,049
36.22
89,294
32,808
56.486
27,000
3
'44
1,138,921
36.22
99,632
32,733
66,899
40,000
4
'45
1,621,720
61.75
183,834
62,712
121,122
72,000
6
'46
1,690,260
61.75
228,611
89,187
139,424
86,865
7
'47
2,109,865
61.75
324,725
130,426
194,299
111,060
8
'48
2,354,913
61.75
430,212
145,668
284,544
136,000
8
'49
2,405,313
61.75
432,803
142,401
290,402
160,000
8
'50
2,631,541
72.38
301,752
160,416
28,762
490,930
196,454
294,476
235,000
10
'51
2,742,245
72.38
359,169
166,734
30,101
556,004
235,011
320,993
352,500
15
'52
2,905.589
72.38
396,383
172,547
31,478
600,408
268,185
332,223
235,000
10
'53
3,164,832
72.38
405,173
200,154
34.201
639,528
304,180
335,348
235,000
10
'54
3,295.636
72.38
476,174
243,643
37,834
757,651
398,760
358,891
235,000
10
'55
3,318,932
72.38
444,239
250,039
35,734
730,012
377,213
352,799
235,000
10
'56
3,329,377
72.38
430,447
264,667
35,680
730,794
393,555
337,239
352,500
15
'57
3,329,601
72.38
455,036
274,662
39,367
769,065
372,807
396,258
235,000
10
'58
3,320,668
72.38
371,906
215,557
40,782
628,245
338,454
289,791
235,000
10
'59
3,362,019
72.38
397,568
283,713
42,179
723,460
342,193
381,267
235,000
10
$47,098,407
1,253.04
8,694,353
3,957,098
4,737,255
3,273,925
Aver. 2,242,781
59.66
414,016
188,433
225,583
155,901
71
HARTFORD, PROVIDENCE AND FISHKILL RAILROAD.
(Financial year ending 30th September, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
Byron Sprague
Providence, R.I.
Alfred Smith
Hartford, Ct.
William Sprague
"
"
A. S. Beckwith
"
"
Henry Lippitt
"
"
Albert Day
"
"
Stephen Harris
Phanix, "
Edson Fessenden
"
"
Joseph Trumbull
Hartford, Ct.
John P. Elton
Waterbury, "
JAMES G. ANTHONY, President
Providence, R.I.
EDWARD D. BRIDGEMAN, Treasurer
Hartford, Ct.
SAMUEL NOTT, Superintendent and Engineer
"
"
Trustees under Connecticut Mortgages-David F. Robinson, George M. Bartholomew,
and Calvin Day, of Hartford, Ct.
Trustees under Rhode Island Mortgages-Shubael Hutchins, Stephen T. Olney, and A.
C. Mauran, of Providence, R.I., and the Treasurer of the city of Providence.
PRINCIPAL OFFICE
HARTFORD, Hartford Co., Ct.
LENGTH OF ROAD-Providence, R.I., to the Connecticut Line
26.32 miles.
Rhode Island Line to Waterbury, Ct
96.04 "
Providence, R.I., to Waterbury, Ct
122.36 miles.
Length of sidings, turnouts, etc
10.75 "
ROLLING STOCK-Locomotive Engines
16
Cars :-Passenger, 20 ; baggage, 9; freight, 201 ; gravel, etc., 40
270
The Hartford, Providence and Fishkill Railroad Company is a consolidation of
two companies-the Providence and Plainfield, chartered in Rhode Island in
June, 1846, and the New York and Hartford, chartered in Connecticut in
May, 1845. Both charters provided for a union of the companies, which
was consummated in 1847. The object of these companies was to construct a
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CONNECTICUT-HARTFORD, PROVIDENCE AND FISHKILL.
199
railroad from Providence, through Rhode Island, Connecticut, and New
York to the Hudson River at Fishkill, opposite Newburg, and there connect,
by ferry, with the New York and Erie Railroad. The work of construction
was commenced in 1847, and the road completed as follows :-From Hart-
fort east to Willimantic, and west to Plainville in 1849 from Plainville west
to Bristol in 1850; from Willimantic east to Providence in 1854, and from
Bristol west to Waterbury in 1855. Failing to pay the coupons due on the
1st Jan., 1858, the directors assigned the whole property of the Company to
Trustees, who took possession on the 1st February following, and have since
that period had the management of the road.
SHARE CAPITAL-Authorized, $4,500,000, in 45,000 $100 shares.
Paid in, $2,037,939 as follows—
Ordinary Share Capital
$1,537,939
Preferred
"
"
(of which $101,200 are claimed to be hypothecated)
500,000
The Preferred Stock was created in 1854, and calls for dividends at the
rate of 10 per cent. per annum, and has preference over all other kinds
of stock. Three semi-annual payments were made on account of the same-
since which nothing has been paid. The Company have a right to re-pur-
chase the stock, as follows :-$24,600 the present year, and the balance in
1865. Of the whole amount of Preferred Stock issued, $101,200 was hypo-
thecated, and $398,800 sold.
FUNDED DEBT.
Seven per cent., coupon bonds
$2,055,500
All the bonds issued by the Company are 1st Mortgage Bonds; the
mortgage providing for an issue equal to one-half the cost of the road. Of
the whole amount, $481,000 are a lien on that portion of the road lying in
the State of Rhode Island, and 1,574,500 on that portion of the road lying
in the State of Connecticut. The bonds are payable at various dates from
1860 to 1876 interest payable 1st January and 1st July, at the Company's
office, in Hartford. The cities of Providence and Hartford each hold $500,-
000 of the bonds in exchange, and as security for their own bonds for like
amounts, delivered to and sold by the Company. The bonds held by the
cities fall due in 1876. The City Bonds bear six per cent interest. The
difference in the interest between these and the Company's bonds, one per
cent., is paid to a Sinking Fund for the retirement of the latter. At the date
of the last annual report of the Company, 1st October, 1859, the amount
held by the Providence Sinking Fund was $29,914, and by the Hartford
Sinking Fund, $37,088. At that date the amount of overdue coupons was
$123,934. The dates at which the bonds of the Company were issued and
are made payable, were refused by the Treasurer of the Company.
FLOATING DEBT-$319,444, notes and bills payable; of which sum $276,200
are secured by hypothecated Preferred Stock and bonds.
INCOME ACCOUNT FROM 1ST FEB., 1858 to 30TH SEPT., 1859.
Receipts-
Disbursements-
Passenger earnings
$286,742
Operating expenses.
$290,012
Freight
"
224,259
Bonds due 1st July, 1859, paid
52,230
Mails, express, rents, etc
24,003
Interest paid
133,059
Interest accrued to 1st Oct., 1859
31,875
Surplus on hand
27,828
Total
$535,004
Total
$535,004
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200
CONNECTICUT-HOUSATONIC.
COST OF ROAD AND EQUIPMANT-$4,205,966 in detail as follows—
Graduation and masonry
$1,862,916
Engineering
$122,961
Superstructure, incl'g iron and bridges 1,214,475
Locomotives, passenger, baggage and
Stations, buildings and fixtures
177,458
freight, and other cars
302,510
Land, land-damages and fences
360,664
Agencies and other expenses.
71,782
GENERAL LEDGER BALANCE SHEET, 1ST OcT., 1859.
Cr.
Dr.
Share capital, ordinary
$1,537,939
Cost of road
$3,903,455
Preferred stock
$500,000
Equipment
302,511
"
"
hypothecated. 101,200-398,800
Materials and supplies delivered to
Bonds issued
$2,055,500
trustees
29,348
"
"
hypothecated.
245,000-1,810,500
Sinking Fund, Hartford
$37,088
Notes and accounts payable
319,444
"
"
Providence
26,914-
64,002
Premium and interest received on
Sundry notes and accounts
17,228
bonds issued by Hartford and Provi.
Cash on hand and in dispute, in Amer-
dence, sold
100,325
ican Bank, Providence
7,378
Profit and loss
104.684
Bonds paid by trustees and cancelled.
52,230
Total
$4,323,922
Total
$4,323,922
Cost OF ROAD, EARNINGS, EXPENSES, ETC., YEARLY.
Cost of Road
Mile-
Gross Earnings
Ex-
Net
Div.
Year. & Equipm't.
age.
Pass'ger.
Freight.
Mails, etc.
Total.
penses.
Earnings.
p.c.
1853
$3,008,214
50.77
$59,007
$33,298
$6,636
$98,941
$40,251
$58,690
nil.
1854
3,439,529
107.22
102,688
55,809
7,715
166,212
72,019
94,193
"
1855
4,060,869
122.36
166,626
82,224
9,835
258,685
139,074
119,611
"
1856
4,156,334
122.36
190,429
136,982
13,186
340,597
171,160
169,437
"+
1857
4,202,519
122.36
206,563
148,377
12,955
367,895
201,732
166,163
"
1858
4,202,519
122.36
160,664
122,395
15,536
298,595
163,589
135,006
"
1859
4,205,966
122.36
186,718
130,568
16,214
333,500
180,723
152,777
"
$27,275,950
769.79
1,072,695
709,653
82,077
1,864,425
968,548
895,877
nil.
Aver.
3,896,564
109.97
153,242
101,379
11,725
266,346
138,364
127,962
"
HOUSATONIC RAILROAD.
(Financial year ending 31st December, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
N. Thayer
Boston, Mass.
L. Canfield
Falls Village, Ct.
C. W. Hopkins
Gt. Barrington, "
Daniel Marsh
N. Milford, "
Thos. Hurlbert
South Lee, "
Seth Tomlinson
Bridgeport,
"
Morris Ketchum
New York: N.Y.
W. W. Boardman
New Haven, "
CHARLES HUNT, President and Superintendent
Bridgeport, Ct.
H. NICHOLS, Treasurer
"
"
PRINCIPAL OFFICE
BRIDGEPORT, Fairfield Co., Ct.
LENGTH OF Rosp-Main Line, Bridgeport to the line of Massachusetts
74 miles.
Second track and sidings about 10 miles.
Leased Lines-Berkshire Railroad
21 "
Stockbridge and Pittsfield Railroad
22 "
West Stockbridge Railroad
3 "
Total length of road operated. by the Company
120 miles.
ROLLING STocK-Locomotive engines
11
Cars :-Passenger, 11; baggage, 5; freight, 205 ; gravel, 30
251
*
10 per cent. on Preferred Shares, 818,141. t 5 per cent. on Preferred Shares, $18,544.
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CONNECTICUT -HOUS ATONIC
201
The Housatonic Railroad Company was chartered in May, 1836. Its con-
struction was commenced in 1837, and road opened for its whole length in
1842. In 1843 the Company took a perpetual lease of the Berkshire Rail-
road of Massachusetts, agreeing to pay therefor, as rent, seven per cent. on
its cost of $250,000, the same to be increased to $600,000, when an addi-
tional sum should be required to relay the road, and for other improvements,
which contingencies occurred in 1845-7. The rent under this lease, $17,500 up
to 1846, and $42,000, thereafter, has been regularly paid. In 1843 the
Housatonic Company in connection with the Hudson and Berkshire, now
the Hudson and Boston Railroad Company, took a perpetual lease of the
West Stockbridge Railroad, agreeing to pay therefor a rate of compensation
to depend, in part, on the amount of traffic over the road. The sum paid by
the Housatonic Company on account of this road has averaged, annually,
about $1,000.-(See Berkshire and West Stockbridge Railroads.)
In January, 1849, the Housatonic Company took a perpetual lease of the
Stockbridge and Pittsfield Railroad, agreeing to pay therefor, as rent, seven
per cent. on its cost of $448,700, amounting annually to $31,409, which has
been regularly paid.-(See Stockbridge and Pittsfield Railroad.)
In 1845 the Company issued a Preferred 8 per cent. Stock to the amount
of 11,800 shares at the par value of $100-selling the same at the rate of
$80 per share. The Preferred Stock was created for the purpose of raising
the means of relaying the road with a heavy rail. The interest on the same
was regularly paid to and including April, 1850, since which nothing has
been paid.
SHARE CAPITAL-Paid in, $2,000,000 as follows—
Ordinary Shares
$820,000 I Preferred Shares
$1,180,000
FUNDED DEBT-$232,000 : in detail as follows—
1st Mortgage, 6 per cont., coupon bonds
$205,000
-dated 1st January, 1857, and payable, principal-$50,000, 1st January,
1860 $50,000, 1st January, 1861 ; $50,000, 1st January, 1862, and $50,000
1st January, 1863, and interest semi-annually 1st January and 1st July. Of
the bonds due 1st January, 1859, $5,000 had not been presented for payment.
These bonds were issued in payment for bonds created 1st January, 1848,
and payable 1st January, 1858. The whole amount issued under this
mortgage was $250,000.
Bonds of 1st January, 1848, overdue
$27,000
These are a remainder of the original mortgage debt, and are in reality
the first lien on the road. They have not been presented either for payment
or exchange. Interest on both classes of bonds has been regularly paid.
FLOATING DEBT-$96,730, viz. : bills and accounts payable.
CosT OF ROAD AND EQUIPMENT-$2,439,775.
No details of cost are given in the Reports of the Company
GENERAL LEDGER BALANCE SHEET, 1ST Jan., 1860.
Dr.
Cr.
Road and equipment
$2,439,775
Ordinary Shares
$820,000
Cash, and bills and accounts receivable 124 848
Preferred "
1,180,000
First Mortgage Bonds
205,000
Overdue
"
27,000
Bills and accounts payable
96,730
Profit and loss
235,893
Total
$2,564,623
Total
$2,564,623
26
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202
CONNECTICUT-NAUGATUCE
INCOME ACCOUNT FOR THE YEAR ENDING 31sT DEC., 1859.
1
Receipts-
Disbursements-
1
Passenger earnings
$96,349
Repairs of Roadway
$52,038
Freight
"
173,064
"
" Rolling Stock, etc
39,606
Mail, etc.,
"
20,447
Fuel
14,998
Freight expenses
22,026
Passenger
"
13,772
General
"
17,858
Rent West Stockbridge Railroad
916
" Berkshire
"
42,000-
" Stockbridge and Pittsfield RR
31,409
Paid interest
20,007
Balance
35,220
Total
$289,860
Total
$289,860
COST, EARNINGS, EXPENSES, ETC., YEARLY.
Cost of Road, Mile-
Gross Earnings
Operating Earnings,
Div.
Year. & equip't.
age.
Pass'r.
Freight.
Mails,&c.
Total.
expenses.
less exp.
8
p.e.
1942
$1,221,460
74.00
$92,317
$46,158
$46,159
nil.
nil.
1843
1,244,600
74.00
124,169
87,520
36,649
"
"
1844
1,398,920
74.00
149,506
93,002
56,504
"
"
1845
1,476,380
74.00
164,639
100,103
64,536
"
"
1846 1,553,840
74.00
180,274
180,274
"
"#
1847
1,631,304
74.00
90,105
161,226
5,627
256,958
181,626
75,332
"
"
1848 2,400,000
74.00
93,332
175,047
5,935
274,314
181,558
92,756
"
114
1849 2,400,000
74.00
111,322
165,394
10,278
286,994
176,797
110,197
"
"
1850
2,400,000
74.00
126,988
170,080
12,991
310,059
261,569
48,490
"
"t
1851
2,400,000
74.00
130,428
183,786
14,834
329,048
240,227
88,821
"
"
1852
2,400,000
74.00
94,146
178,894
14,741
287,781
301,166
(Loss.)
"
"
1853
2,407,754
74.00
103,861
207,402
13,727
324,990
306,974
18,016
"
"
1854
2,429,066
74.00
108,521
207,793
14,479
330,793
280,532
50,261
"
"
1855
2,431,773
74.00
110,461
213,383
15,352
339,196
239,371
99,825
"
"
1856
2,437,596
74,00
104,638
207,862
16,797
329,297
256,879
72,418
"
64
1857
2,438,847
74.00
102,860
196,115
19,500
318,475
290,807
27,668
"
"
1858
2,438,847
74.00
90,929
158,918
21,426
271,273
204,134
67,139
"
"
1859
2,439,775
74,00
96,349
173,063
20,448
289,860
234,630
55,230
"
"
18
yrs.
37,542,408
1,332.00
1,363,940
2,398,963
186,135
4,659,943
3,663,437
996,516
"
"
Aver. 2,085,689
74.00
258,886
203,524
55,362
"
"
NOTE.-The current expenses include rent of leased roads, which since 1847 have averaged about
$74,400 annually, viz. :- Berkshire Railroad, $42,000; Stockbridge and Pittsfield, $31,409, and
West Stockbridge, from $900 to $1,000.
NAUGATUCK RAILROAD.
(Financial year ending 31st December, 1856.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
E. F. Bishop
Bridgeport, Ct.
Russell Tomlinson
Bridgeport, Ct.
P. C. Calhoun
"
"
Green Kendrick
Waterbury, "
A. Heaton
New Haven, "
A. L. Dennis
New York City, "
WILLIAM D. BISHOP, President
Bridgeport, Ct.
HORACE NICHOLS, Treasurer
"
"
CHARLES WATERBURY, Superintendent
"
"
PRINCIPAL OFFICE
BRIDGEPORT, Fairfield Co., Ct.
LENGTH OF ROAD-Naugatuck Junction to Winsted
57.00 miles.
Sidings, turnouts and other track, 2.25 mile.
The trains of this Company are run over the New York and New Haven
Railroad between the junction and Bridgeport, a distance of about 5 miles.
Eight per cent. on preferred stock. t Four per cent. on preferred stock.
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CONNECTICUT-NAUGATUCK
203
ROLLING STocK-Locomotive engines
7
Cars:-Passenger, 11; baggage, 4; freight, etc., 178
193
The Naugatuck Railroad Company was chartered in May, 1845, and or-
ganized in February, 1848 The road was completed as follows from the
junction to Seymour, 15 miles, on the 15th May; to Waterbury, 28 miles.
on the 11th June, and to Winsted,58 miles, on the 24th September, 1849.
SHARE CAPITAL-Authorized, $1,500,000 Paid in, $1,031,00.
FUNDED DEBT-$287,350 : classified as follows—
1st Mortgage, 7 per cent., coupon bonds
$270,500
-dated 10th July, 1856, and payable in 20 years, and coupons 10th Jan. and
10th July, at the Company's office. Total amount provided $400,000.
State Law, 7 per cent. bonds
$16,500
-issued in 1853-4, and payable in 1863-4; interest semi-annually.
Mortgage 7 per cent. bonds of 1848 (past due)
$350
INCOME ACCOUNT FOR THE YEAR ENDING 31sT DECEMBER, 1859.
Receipts-
Disbursements-
Passenger earnings
$84,824
Operating expenses
$113,725
Freight
"
144,151
State and other taxes
2,077
Mail
"
4,650
Interest and commission
1,038
Express
"
2,500
Coupons
19,618
All other sources
5,205
Dividend No. 8,3 per cent
30,954
Profit and loss, 31st Dec., 1858
273,009
Balance to credit of profit and loss
346,827
Total
$514,339
Total
$514,339
GENERAL LEDGER BALANCE SHEET, 1ST JANUARY, 1860.
Dr.
Cr.
Cost of road
$1,370,958
Share capital
$1,031,800
" equipment
207,343
Funded debt
287,350
Cash on hand
8,895
Notes payable
9,226
Notes receivable
47,802
Coupons
9,786
Due from stations
16,349
Expenses for December
5,793
"
General Post-office
2,325
Dividend No. 8
471
"
sundry accounts
611
Due Housatonic Company
2,353
Materials on hand
29,032
" N.Y. and New Haven Company
1,227
Bridgeport office
453
" W.D. Bishop
185
Naugatuck Railroad stock
4.250
Profit and loss
346,827
Stockbridge and Pittsfield RR. stock.
7,000
Total
$1,695,018
Total
$1,695,018
COST, EARNINGS, EXPENSES, ETC., YEARLY.
Cost of Road, Mile-
Gross Earnings
Operating Earnings,
-Dir.-
Year. & equip't.
age.
Pass'r.
Freight.
Mails,&c.
Total.
expenses.
less exp.
8
p.o.
18491
$1,333,249
57 00
$22,129
$31,147
$1,198
$54,473
$25,170
$29,303
nil.
nil.
1850
1,335,001
57.00
94,735
130,259
5,868
230,862
136,273
94,589
60,006
6
1851
1,368,151
57.00
72,307
114,052
3,868
190.227
85,287
104,940
nil.
nil.
1852
1,409,508
57.00
79,641
127,071
4,272
210,984
95,203
115,781
70,007
7
1853 1,530,807
57.00
91,467
150,686
4,534
246,687
122,059
124,628
80,008
8
1854
1,577,167
57.00
85,494
147,820
4,952
238,266
231,948t
6,318
40,004
4
1855
1,580,723
57.00
83,681
131,443
5,335
220,459
126,691
93,768
nil.
nil.
1856
1,576,926
57.00
84,866
146.828
5,722
237,416
126,134
111,282
"
"
1857
1,578,301
57.00
78,187
119,606
11,762
209,555
121,372
88,183
"
"
1858
1,578,301
57.00
69,119
116,763
13,654
199,536
106,623
92,913
"
"
1859
1,578,301
57.00
84,824
144,151
12,355
241,330
113,825
127,505
30,954
3
10f ya. 16,446,435
627.00
846,450
1,359,625
73,520
2,279,795
1,290,585
989,210
280,979
28
Aver. 1,495,130
57.00
80,614
129,507
7,002
217,123
122,913
94,210
26,769
21
# Six months' operations, from 1st July to 31st December, 1849. t Including repairs of damages
by freshet in winter of 1953-4, about $100,000
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204
CONNECTICUT-NEW HAVEN, NEW LONDON AND STONINGTON.
NEW HAVEN AND NEW LONDON RAILROAD.
(See New Haven, New London and Stonington Railroad.)
NEW HAVEN, NEW LONDON AND STONINGTON RAILROAD.
(Financial year ending 30th November, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
Wyllis Blackstone.
New York City, N.Y.
Charles J. McCurdy
Lyme, Ct.
E. C. Scranton
Madison, Ct.
Charles C. Griswold
"
"
A. O. Wilcox
"
"
Charles Mallory
Mystic, "
Sumner Bull
Saybrook, "
James I. Day
Stonington,
"
CORNELIUS S. BUSHNELL, President
New Haven, Ct.
WILLIAM T. BARTLETT, Treasurer and Secretary
"
"
FREDERICK J. CALHOUN, Superintendent
"
"
PRINCIPAL OFFICE
NEW HAVEN, New Haven Co., Ct.
LENGTH OF RoAD-Old Line, New Haven to New London
50.00 miles.
Extension, New London to Stonington
11.00 "
Total length of road owned by Company
61.00 miles.
Second track, including sidings, turnouts, etc., about 3 miles.
The New Haven, New London and Stonington Railroad Company is a consolida-
tion of the New Haven and New London and the New London and Ston-
ington Companies.
The New Haven and New London Company was chartered in May, 1848.
Construction was commenced in 1850, and the road completed and brought
into use from New Haven to the Connecticut River on the 1st and to New
London on the 22d July, 1852.
The New London and Stonington Company was chartered in May, 1854,
with authority to construct a road from the eastern terminus of the New
Haven and New London Railroad, to a connection with the New York,
Providence and Boston Railroad in Stonington.
By an act passed in May, 1856, authority was granted for the consolida-
ation of the two companies, and the issue of a 6 per cent. preferred stock,
(not exceeding $400,000,) for the completion of the extension line. This act
was duly accepted by the stockholders of both companies 6th March, 1857.
Construction was forthwith commenced, and the road completed from Groton,
opposite New London to Stonington, and a connection with the New York,
Providence and Boston Railroad in December, 1858. On the 1st November,
1859, the new line was leased to last named company for five years, the
lessee to pay as rent one-half of the gross earnings of the road.
SHARE CAPITAL-Authorized by charter, $1,500,000, in 15,000 $100 shares.
Extension Preferred Stock-Authorized, $400,000, in 8,000 $50 "
Paid in, $960,748 : viz., original, $738,538; and preferred, $222,210.
FUNDED DEBT-$866,000 classified as follows—
1st Mortgage, 7 per cent., coupon bonds
$450,000
-dated 10 September, 1851, and payable, principal in 10 years, and coupons
semi-annually, 10th March and 10th September, at New Haven. The coupons
due 1858 and 1859 were not paid. These, with those falling due in 1860, are
to be paid in 7 per cent. Income bonds, dated 10th March, 1860, and payable,
principal in 7 years, and interest semi-annually, at New Haven.
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CONNECTICUT-NEW HAVEN, NEW LONDON AND STONINGTON.
'205
2 Mortgage, 6 per cent., coupon bonds
$200,000
-dated 20th January, 1853, and payable, principal in 15 years, and interest
semi-annually, 20th January and 20th July, at New Haven. No interest
has been paid on these bonds since 1854. The coupons will be funded in 7
per cent. Income bonds, as above.
Ten per cent. bonds
$100,000
-issued in 1854, to pay off the floating debt, and overdue coupons, and pay-
able in 1859. Neither principal nor interest has been paid. It is now pro-
posed to exchange them for the 7 per cent. income bonds described above.
Extension 1st Mortgage, 6 per cent., bonds
$116,000
--dated 1st May, 1858, and payable, principal in 20 years, and interest semi-
annually, 1st May and 1st November, at New Haven.
COST OF ROAD AND EQUIPMENT-$1,851,877 : as follows—
New Haven and New London RR, $1,454,040 I Stonington Extension Line, etc
$397,837
INCOME ACCOUNT FOR THE YEAR ENDING 31sT DECEMBER, 1859.
Receipts-
Disbursemente-
Passenger earnings
$88,159
Operating expenses and repairs
$31,823
Freight
"
11,914
Coal, wood, oil and waste
15,499
Mail service
5,000
Salaries. wages and general expenses
25,053
Rents and express
2,764
Steamboat expenses
2,718
Cash on hand 1st January, 1859
6,086
Renewals
10,977
Bills receivable 1st January, 1859
7,135
New works, telegraph, etc
4,940
Deficit on bills payable
21,782
Insurance $1,141, and interest 837
1,178
Seven per cent. coupons, due Sept, 1857
14,962
Refunded to Extension Railroad, for cou-
pons taken up in 1857
26,929
Amount carried to profit and loss
296
Cash and bills receivable
8,465
Total
$142.840
Total
$142,840
No general statement of the Company is published in the annual reports.
The following applies only to the Extension Line:
GENERAL LEDGER BALANCE SHEET 1ST JANUARY, 1860.
[Extension Line.]
Dr.
Or.
Graduation, masonry, survey, stations,
Stock collected
$222,210
and materials
$197,656
Proceeds of extension bonds sold
88,300
Land, land damages, etc
48,130
Bills payable
81,992
Machinery and tools
4,006
This Company's proportion of earnings
Legislative expenses
5,086
to extension road from January 1st
Amount paid for iron
76,172
to October 31st, 1859
10,552
Interest on loans
12,711
Bridging
18,793
Steamboat
28,867
Other items
11,692
Total
$403,054
Total
$403,054
COST, EARNINGS, EXPENSES, ETC., YEARLY.
Cost of
Mile-
Gross Earnings
Operating
Earnings,
Div
Year.
Road, etc.
age.
Pass'er.
Freight. Mails, etc.
Total.
expenses.
less exp.
$
p.c
1853
$1,362,677
50.00
$52,512
$2.522
8939
$55,973
835,266
$20,707
nil.
nil.
1854
1,375,912
50.00
86,107
7,927
2,104
96,138
56,463
39,675
"
"
1855
1,450,318
50.00
87,608
9,326
7,052
103,986
59,618
44,368
"
"
1856
1,454,040
50,00
70,208
11,061
6,738
88,007
54,680
33,327
"
"
1857
1,454,040
50 00
126,842
18,137
12,678
157,657
106,847
50,810
"
"
1858
1,454,040
50.00
59,969
8.824
7,965
76,758
66,548
10,210
"
"
1859
1,851,879
61.00
89,159
11,914
7,764
107,837
87,210
20,627
"
"
6 yrs.
10,402,906
386 00
571,405
69,711
45,240
686,356
466,632
219,724
"
"
Aver.
1,767.151
51.52
95,234
11,618
7.540
114,392
77,772
36,620
"
"
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206
CONNECTICUT-NEW HAVEN AND NORTHAMPTON.
NEW HAVEN AND NORTHAMPTON RAILROAD.
(Financial year ending 31st December, 1859.)
WILLIAM JOHNSON, President and Superintendent
New llaven, Ct.
S. D. PARDEE, Secretary and Treasurer
"
"
PRINCIPAL OFFICE
NEW HAVEN, New Haven Co., Ct.
LENGTH OF ROAD-New Haven to Granby
46.00 miles.
Branch Lines-Collinsville Branch
8.00 "
Tariffville Branch
1.00 "
Leased Line-Farmington Valley, from Granby to State line
4.66 "
Total length of line owned and leased
59.66 miles
ROLLING Srock-None. Run by New York and New Haven Railroad Company.
The New Haven and Northampton Railroad Company was chartered in May,
1846. The construction of the road was commenced immediately thereafter,
and the first division to Plainville, 27 miles, was completed on the 31st Dec.,
1847. The section from Plainville to Granby, with the Collinsville, and
Tariffville Branches, was opened early in 1850. On the 11th January, 1848,
the New York and New Haven Railroad Company took a lease of the first
section of the road, extending from New Haven to Plainville (which took
effect on the 1st July, 1849), to continue till the 1st July, 1869, paying
therefor, as rent, the sum of $45,000 per annum, payable half yearly on the
1st Jan. and 1st July, at the office of the New Haven and Northampton
Company, provided the gross earnings of this section should equal $75,000
annually. In case they should full short of this sum, then a sum equal to
any such deficiency to be deducted from the rent. In case the gross earn-
ing exceeded $75,000 annually, then one-third of the excess was to be added
to the rent. The gross earnings of this section have averaged about $79,000
annually. On the 16th Feb., 1850, the New York and New Haven Com-
pany also took a lease of the second section, embracing the Collinsville and
Tariffville branches, in all about 28 miles, to take effect on the 25th April,
1850, and to continue till 1st July, 1869, at an annual rental of $40,000, pay-
able quarterly. Under these leases the road has been operated by the New
York and New Haven Railroad, and the rent regularly paid. Of this sum
$12,000 has been contributed in annual payments by the Hartford and New
Haven Railroad Company, under agreement with the New York and New
Haven, recited in the sketch of that road.
That portion of the line of the New Haven and Northampton Railroad
extending from Granby to the State line of Massachusetts, about 41 miles,
was constructed under the charter of the Farmington Valley Railroad Com-
pany, a lease of which for 1,000 years was purchased by the New Haven and
Northampton Company by the payment of $10,000 in its bonds.
On the 1st October, 1859, the New Haven and Northampton Company
took a lease of the Hampshire and Hampden Railroad for a period of 999
years. In consideration thereof, the New Haven and Northampton Company
agreed to guarantee the payment of 1st Mortgage Bonds of the Hampshire
and Hampden Company to the amount of $200,000, and to pay the interest
as it fell due, and to account to this Company for such net earnings as might
remain.-(See Hampshire and Hampden Railroad.)
SHARE CAPITAL-Authorized and paid in, $922,500.
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CONNECTICUT--NEW LONDON, WILLIMANTIC AND PALMER.
207
FUNDED Девт—$700,000: in detail as follows-
1st Mortgage, 7 per cent., coupon bonds
$500,000
-payable 10th July, 1869; interest payable 10th Jan. and 10th July, at the
Bank of Commerce, in New York
Bonds of the Hampshire and Hampden Railroad Company, guaranteed by
the New Haven and Northampton Railroad Company
$200,000
-dated in 1854, and payable 1874; interest payable on the 1st April and
1st Oct., at New Haven. These bonds constitute a first lien on the Hamp
shire and Hampden Railroad.
The Company publishes no report to its stockholders, and no reports to the
Legislature, from which an income account or a general statement can be given.
The following statement will show the cost of the road since and includ-
ing 1850; the annual earnings, the current expenses, and the amount of
rent paid. For the first six years the average annual earnings, expenses,
and rent are given; for the last four the amounts for each year:
Gross
Current
Excess of Curr't
-Dividends-
Years.
Cost of Road.
Earnings.
Expenses.
Rent Paid.
exp. and rent.
p.c.
1850
$750,000
$90,219
$52,623
$74,049
$36,454
nil.
nil.
1851
1,400,000
90,219
52,623
74,049
36,454
36,900
4
1852
1,400,000
90,219
52,623
74,049
36,454
36,900
4
1853
1,400,000
90,219
52,623
74,049
36,454
36,900
4
1854
1,400,000
90,219
52,623
74,048
36,454
36,900
4
1855
1,400,000
90,219
52,623
74,049
36,454
36,900
4
1856
1,400,000
115,036
70,895
88,362
44,221
36,900
4
1857
1,400,000
130,859
72,082
92,777
34,000
36,900
4
1858
1,400,000
121,157
62,792
93,792
35,424
46,125
5
1859
1,400,000
125,152
79,290
90,362
44,500
46,125
5
10 years.
$13,350,000
1,033,514
600,798
809,585
376,869
350,555
Average
1,335,000
103,251
60,079
70,948
37,687
35,055
3.8
NOTE-The loss to the New York and New Haven Company has been $256,869 to the Hart-
ford and New Haven, $120,000. To this sum should be added the interest on the cost of machinery
supplied by the New York and New Haven Company, of the value, say, of $100,000, and other
charges not embraced in the accounts against the New Naven and Northampton Company, amount-
ing to $12,000 yearly, and a total of $120,000.
NEW LONDON, WILLIMANTIC AND PALMER RAILROAD.
(Financial year ending 30th November, 1859.)
TRUSTEES IN POSSESSION OF THE ROAD
Andrew C. Lippitt
New London, Ct. I Wm. C. Fowler
New London, Ct.
Henry P. Haven
"
"
PRINCIPAL OFFICE
NEW LONDON, New London Co., Ct
LENGTH OF ROAD-New London to Palmer, Mass
66.00 miles.
Second track and sidings, 5 miles.
ROLLING STOcK-Locomotive engines
7
Car3 :-Passenger, 5; baggage, 3; merchandise, 95 ; gravel, 8
111
The New London, Willimantic and Palmer Railroad Company was chartered in
1847. The work of construction was commenced in 1848, and in October,
1849, the first section of 13 miles, from New London to Norwich, was opened;
in September the section from Norwich to Willimantic, 17 miles in March,
1850, from Willimantic to Stafford, 20 miles, and from Stafford to Palmer,
16 miles, in September, 1850.
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208
CONNECTICUT-NEW LONDON, WILLIMANTIC AND PALMER.
SHARE CAPITAL (Old Company)-Authorized, $1,700,000, in $100 shares.
Paid in, - $510,900.
FUNDED DEBT (Old Company)-$1,052,000 in detail as follows—
1st Mortgage, 7 per cent., coupon bonds
$500,000
-issued in 1849, and payable in 1859, 1864, and 1869; interest payable on
the 1st May and 1st Nov., at New London.
2d Mortgage, 6 per cent., coupon bonds
$300,000
-dated in 1850, and payable in 1857; interest payable on the 1st Feb. and
1st August, at New London.
Income and conrertible. 6 per cent., coupon bonds
$152,000
-dated in 1851, and payable in 1870; interest payable on the 1st Jan. and
1st July, at New London.
New London City Bonds, 6 per cent., guaranteed by the Company
$100,000
-dated 1st July, 1852, and payable 1st July, 1867 ; interest payable 1st
Jan. and 1st July, at New London.
The Company failed to meet the interest on its several classes of bonds at
the following dates: On the Income and Convertible Bonds on the 1st Jan.,
1856; on the 2d Mortgage Bonds on the 1st Feb., 1856, and on the 1st
Mortgage Bonds on the 1st Nov., 1857. The bonds issued by the city of
New London, and guaranteed by the Company, are secured upon other pro-
perty of the Company, and the interest on the same has been regularly paid.
In consequence of failure to pay interest on the 1st Mortgage, the road was
taken possession of by the Trustees for the benefit of the bondholders, who
instituted proceedings under which the 1st Mortgage has been foreclosed.
It is now proposed to form a new company under the title of the New Lon-
don Northern Railroad Company, (for which the requisite legislative au-
thority has been obtained,) with a capital stock of $600,000, which may be
increased to $700,000, into which the 1st Mortgage bonds, with the overdue
bonds, may be converted. In case of the refusal of any holder of bonds or
coupons to convert the same into stock, the value of the road and equipment is
to be appraised, and a proportional sum to be paid in cash to each holder, in
full discharge of his interest in the mortgage. Under this authority the new
company will probably be organized during the present year.
COST OF ROAD AND EQUIPMENT-$1,573,568 in detail as follows-
Graduation and masonry
$412,441
Land and land-damages
199,362
Bridges
84,965
Locomotive engines
115,583
Superstructure, including iron
406,973
Cars
58,574
Station buildings
88,221
Engineering, agencies and other exp
207,215
The Company made no report to the stockholders for 1859. The income
account and general statement for 1858 were as follows
INCOME ACCOUNT FOR THE YEAR ENDING 31sT OCTOBER, 1858.
Receipts-
Disbursements-
Passenger earnings
$42,298
Repairs of road and buildings
$12,650
Freight
"
53,194
" of engines and cars
5,856
Mails, etc
8,972
Salaries and transportation expenses
24,038
Fuel, oil and waste
11,088
Miscellaneous expenses
3,603
Renewals and construction
16,386
Interest on 1st Mortgage Bonds
16,987
"
on City of New London Bonds.
6,000
Balance to profit and loss
7,856
Total
$104,464
Total
$104,464
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CONNECTICUT-NEW YORK AND BOSTON.
209
GENERAL LEDGER BALANCE SHEET, 1ST Nov., 1858.
Dr.
Cr.
Construction account
$1,561,242
Stock
$510,900
Norwich Junction
5,452
Seven per cent. Bonds
500,000
Uncollected Account
1,871
Six
"
"
300,000
Notes receivable
1,623
Six
"
"
In. and Con
152,000
Cash on hand
2,969
Six
"
"
N. L. City
100,000
Materials on hand, wood, etc
1,990
Original Mort. on W. Neck property
3,600
Unpaid accounts
272
Profit and loss
8,375
Total
$1,575,147
Total
$1,575,147
Cost, EARNINGS, EXPENSES, ETC., YEARLY.
Cost.
Mile-
Gross Earnings
Operating Earnings,
Year.
of Road.
age.
Pass'gers.
Freight.
Mails,
etc.
Total.
Expenses.
less exp.
$
p.c.
1851
$1,450,410
66.00
$104,839
859,349
$4,281
$168,469
$86,200
$82,259
nil.
nil.
1852
1,511,111
66.00
61,609
44,237
8,564
114,410
62,519
51,901
"
"
1653
1,524,329
66.00
64,097
57,164
7,454
128,715
73,820
54,891
"
"
1854
1,527,827
66.00
63,116
63,696
10,248
137,060
79,031
58.029
"
"
1855
1,594,382
66.00
58,099
55,641
10,303
124,043
64,732
59,311
"
"
1856
1,603,230
66.00
51,522
59,559
9,490
120,571
75,866
44,705
"
a
1857
1,603,230
66.00
47,132
57,333
11,338
115,803
78,790
37,013
"
"
1858
1,575,147
66.00
42,297
53,194
8,973
104,464
73,622
30,842
"
"
1859
1,573,568
66.00
51,925
58,594
8,627
119,146
119,146
"
"
9 yrs.
13,963,234
594.00
544,636
508,767
79,278
1,132,681
713,716
418,965
64
"
Aver.
1,551,470
66.00
60,515
56,530
8,808
125,853
79,301
46,553
"
u
NEW YORK AND BOSTON RAILROAD.
LENGTH OF ROAD-New Haven to State Line of Rhode Island
80 miles.
The New York and Boston Railroad Company in Connecticut was chartered
in May, 1846, with authority to construct a railroad from New Haven to
Middletown, and thence easterly, through the town of Windham, to the east
line of the State in the direction of the city of Boston, with permission to make
any lawful contract, and also to make joint stock, with any other corporation,
or become lessee of such railroads as shall constitute portions of the direct
route between New York and Boston. In 1854 the Company consolidated
with the Woonsocket Union Railroad Company of Rhode Island, and in
1855 with the Charles River Railroad Company of Massachusetts.
The contract for construction was entered into on the 28th of January,
1853, under which about $250,000 were expended, chiefly in the graduation
of the road. No work has been done since 1856, and the chartered rights
of the company have expired by their own limitation. The following state-
ment will show the condition of the company on the 3d October, 1856 since
which date no report has been published:
Graduation and masonry
$169,510
Share capital
$223,531
Bridges
393
Cash
829
Land, land damages and fences
19,705
Bills payable
12,749
Engineering
18,832
Due contractors and individuals
20,382
Interest account
2,507
Small accounts
210
Salaries
12,035
Expense account
9,906
Contractors
10,658
Sundries, etc
3,219
Due from Rhode Island
2,812
"
Massachusetts
8,124
Total
$257,701
Total
$257,701
# In the statement for 1851, the earnings, etc., of the road during construction are included.
27
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210
CONNECTICUT-NEW YORK AND NEW HAVEN.
NEW YORK AND NEW HAVEN RAILROAD.
(Financial year ending 31st March, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
George N. Miller
New York City, N.Y.
John Bradley
New Haven, Ct.
A. R. Van Nest
"
"
E.C. Scranton
"
I
George B. Carbart
"
"
John W. Leeds
Stamford,
"
Dennis Kimberly
New Haven, Ct.
Jonathan Godfrey
Southport,
"
JUSTUS R. BULKLEY, President
New York City, N.Y.
WILLIAM BEMENT, Treasurer
"
"
JAMES H. Horr, Superintendent
"
"
PRINCIPAL OFFICE
Cor. 27TH STREET AND 4TH AVENUE, New York City, N.Y.
LENGTH OF ROAD-Now Haven to the junction near Williamsbridge. 61.25 miles.
Length of Branch at New Haven used by the Hartford and
New Haven Company
1.00
"
Second track, including sidings, 63.82 miles.
Leased Road-New Haven and Northampton Railroad
55.13
"
Total length of main line operated by the Company
117.38 miles.
ROLLING STOCK-Locomotive engines
29
Cars :-Passenger (8-wheel), 1st class cars
72
Baggage, mail and express (8-wheel) cars
19
Freight (8-wheel) cars
349
The New York and New Haven Railroad Company was chartered on the 20th
June, 1844, and organized on the 19th May, 1846. The construction of the
road was commenced in September, 1847, and in January, 1849, it was
opened to the public for its entire length. It was not, however, received by
the Company from the contractors till the October following. The double
track was completed in 1854.
By an act of the Legislature of the State of New York, the Company
was authorized to extend its road from the boundary line of that State to a
junction with the New York and Harlem Railroad at or near Williams-
bridge. By an agreement entered into with the New York and Harlem
Railroad Company, on the 17th March, 1848, the New York and New
Haven Company was allowed to run its cars over that road into the city of
New York. This contract was subsequently modified, and the amounts now
paid for this privilege are ten cents for each full-paying passenger; 3₫ cents
for each commuter. For freight coming from the New Haven road, the lat-
ter deducts 60 per cent. for expenses. The balance is then divided in ratio to
mileage on each road. This contract is subject to revision in October, 1860,
and for every five years thereafter. The amount paid by the New Haven to
the Harlem Company since the date of the first agreement has been about
$650,000. The average for the past seven years has been $76,346 yearly.
In 1848 a contract was made with the New Haven and Northampton Rail-
road Company, whereby the New York and New Haven Railroad Company
took a lease of the road of the former, to take effect on the 1st July,
1849, to continue to the 1st July, 1869, upon the following terms—
the New York and New Haven Company agreed to maintain and operate
that section of the New Haven and Northampton Railroad extending from
New Haven to Plainville, a distance of about 27 miles, and pay, as rent,
the sum of $45,000 per annum. But in case the gross receipts of this sec-
tion were less than $75,000, a sum equal to any deficiency that might occur
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CONNECTICUT-NEW YORK AND NEW HAVEN.
211
was to be deducted from the amount of rent. If the gross receipts ex-
ceeded $75,000, then one-third of such excess was to be added to the rent.
For the Extension, from Plainville to the State line, with Branches to Col-
linsville to Tariffville, in all about 28 miles, a subsequent contract was en-
tered into on the 16th Feb., 1850, which provided that the New York and
New Haven Railroad should pay an absolute rental of $40,000 annually.
Under this agreement this Company, for the first six years, made a loss of
$146,721, to which should have been added, according to its own estimate,
$40,000 for items not included in the accounts against the leased road. The
loss for the past four years has been $109,721.
On the 30th April, 1849, an agreement was entered into between the New
York and New Haven and the Hartford and New Haven Railroad Com-
panies, to continue till 1st July, 1869, which provided, among other things,
that the Hartford and New Haven Company should run its trains to the sta-
tion of the latter in New Haven, (with the exception of one train to the
night line of steamboats to New York); to discontinue the maintenance of
a day line of steamboats to New York, and to charge on the night line to
New York a fare not more than 50 cents less, per passenger, than that over
the New York New and Haven road. In consideration of these agreements
the New York and New Haven Company agreed to supply the depot accom-
modations at New Haven; the use of its track between Grand street June-
tion and the station in New Haven; and for the withdrawal of the boats,
$20,000 annually for five years-one-half to the Hartford and New Haven
Company, and one-half to the Connecticut River Steamboat Company. By
subsequent contracts, which refer to the one already described, the New
York and New Haven agreed to discourage the extension of the New Haven
and Northampton Railroad northwardly, in consideration of which, and of
other agreements, the Hartford and New Haven Company agreed to pay to
the New York and New Haven Railroad Company, on account of the lease
of the New Haven and Northampton Railroad, $12,000 annually from the
1st March, 1850, to the 1st July, 1869. The latter road has been extended
by other companies to Northampton, Massachusetts, the whole line being run
by the New York and New Haven Company. The agreement also pro-
vided that neither Company should be at liberty to make any such ar-
rangement of their trains or prices, or with other companies, as would have
a tendency to draw away the business of the road of the other.
SHARE CAPITAL-Authorized, $3,000,000, in 30,000 $100 shares.
Subscribed and paid in, $2,980,839.
In 1854 an over-issue of shares to the amount of about $2,000,000 was
discovered to have been made by its President and Transfer Agent. The
recognition of this over-issue has up to the present time been successfully
resisted by the Company, so far as they can be traced. They are not in-
cluded in the above statement of Share Capital.
FUNDED DEBT-$2,219,000 in detail as follows-
1st Mortgage, 6 per cent., coupon bonds
$930,000
-dated 1st October, 1855, and payable, principal 1st October, 1875 inter-
est semi-annually, 1st April and 1st Oct., in New York. Under this mort-
gage the Company has authority to issue bonds to the amount of $3,000,000.
Seven per cent., coupon bonds
$964,000
-issued at various dates in 1852-3 and 4, and payable 1st December, 1866;
interest payable 1st June and 1st December in New York.
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212
CONNECTICUT--NEW YORK AND NEW HAVEN.
Seven per cent., coupon bonds
$311,000
-issued in 1851, at various dates, and payable 1st December, 1860 interest
payable on the 1st June and 1st December in New York.
Six per cent., coupon bonds
$14,000
-dated 1st January, 1851, and payable 1st January, 1861; interest pay-
able 1st January and 1st July in New York.
COST OF ROAD AND EQUIPMENT-$5,324,769 in detail as follows—
Graduation and masonry
$1,707,678
Land, land damages and fences
358,354
Bridges
262,486
Locomotive engines
$252,972
Superstructure, including iron
1,117,136
Passenger and merchandise cars
408,577
Stations, buildings and fixtures
389,736
Engineering and agencies
827,620
INCOME ACCOUNT FOR THE YEAR ENDING 31sr MARCH, 1859.
Receipts-
Disbursemento-
Passenger earnings
$624,796
Transportation expenses
$198,114
Freight
"
157,950
Repairs of road
76,767
Mails, etc
45,945
"
" rolling stock
114,285
Fuel, oil and waste
95,181
Horse-power
28,511
Loss operations, Canal Railroad
32,500
Interest on bonds
142,600
Dividend-3 per cent
90,000
Balance
50,733
Total
$828,691
Total
$828,691
GENERAL LEDGER BALANCE SHEET, 1ST MARCH, 1859.
Dr.
Cr.
Road and buildings
$4,597,879
Capital stock
$3,000,000
Rolling stock
661,546
Mortgage Bonds
930,000
Real estate
65,343
Bonds due 1st Dec., 1866
964,000
Material for working road, etc
170,716
" " 1st Dec., 1860
311,000
Mortgage bonds on hand
55,500
"
"
1st Jan., 1861
14,000
Cash
31,447
Current accounts
33,037
Profit and loss
330,394
Total
$5,582,431
Total
$5,582,431
COST, EARNINGS, EXPENSES, ETC., YEARLY.
Cost of
Mile-
Gross Earnings-
Operating
Net
-Dir.-
Year.
Road,&c.
age.
Pass'r.
Freight
Mails.
Total.
expenses.
Earnings.
$
p.c.
1850.
$3,005,395
62 25
$354,484
$9,649
$14,029
$378,162
$199,748
$178,414
8174 930
7
1851.
3,540,085
62.25
564,355
71,266
11,685
647,306
388,661
258,645
174,930
7
1852.
4,640,000
62.25
555,215
113,005
11,433
679,653
424,899
254,754
209,114
7
1853.
4,973,487
62.25
610,550
108,877
20,007
739,434
437,826
301,608
nil.
nil.
1854.
5,131,948
62.25
716,436
127,340
31,749
875,525
528,514
347,011
"
"
1855.
5,179.010
62.25
703,676
135,874
43,192
882,742
571,584
311,158
"
"
1856.
5,169,779
62.25
687,976
152,048
44,282
884,306
577,649
306,657
"
6.
1857.
5,190,178
62.25
749,324
175,937
46,447
971,708
570,744
400,964
90,000
3
1858.
5,342,487
62.25
663,149
138,084
53,761
854,994
623,425
231,569
nil.
nil.
1859.
5,324,769
62.25
624,795
157,950
45,947
828,692
545,359
283,333
90,000
3
10
yrs
$47,497,138
622.50
6,229,960
1,190,030
322,532
7,742,522
4,868,409
2,874,113
738,974
26
Aver.
4,749,713
62.25
622,996
119,003
32,253
774,242
486,846
287,411
73,897
2.6
NOTE.-The above statement does not include the earnings nor current expenses of the New Haven
and Northampton Railroad; but it includes the loss to the New York and New Haven Company,
on account of the lease, which for the first six years averaged $24,453, and for the last four years,
$27,430, making in the aggregate, $256,442 The statement includes in expenses, the amount
paid to the New York and Harlem Company for hauling the cars of the former in the City of New
York, which have averaged $39,931, amounting in the aggregate to $399,315. The sums paid the
Harlem Company for the use of its road is not embraced in either the receipts or expenses.
The loss by the Norwalk accident not included in expenses was $376,842.
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CONNECTICUT-NORWICH AND WORCESTER
213
NORWICH AND WORCESTER RAILROAD.
(Financial year ending 30th November, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859 -60.
J. Newton Perkins
New York City, N.Y.
Charles Johnson
Norwich, Ct.
John A. Weeks
"
"
Moses Pierce
"
"
V. Worthington
"
"
Franeis H. Dewey
"
"
Jedediah Huntington
Norwich, Ct.
Alex. DeWitt
"
"
AUGUSTUS BREWSTER, President
Norwich, Conn.
GEORGE L. PERKINS, Treasurer
"
"
P. Sr. M. ANDREWS, Superintendent
"
"
PRINCIPAL OFFICE
NORWICH, New London Co., Conn.
LENGTH OF RoAD-Norwich, Ct., to Worcester, Mass
59.00 miles.
Allen's Point Extension
7.00 "
Second track, 1.80 mile. Sidings and other track, 6.70 miles.
ROLLING STocK-Locomotive engines
14
Cars :-Passenger, 17; baggage, 3, freight, 258 ; gravel, etc., 21
299
The Norwich and Worcester Railroad Company is a consolidation of the Bos-
ton, Norwich and New London Railroad Company, chartered in Connecticut
in May, 1832, and the Worcester and Norwich Railroad Company, chartered
in Massachusetts in March, 1833. The legislatures of the two States passed
separate acts in May, 1836, authorizing the union, and constituting the
stockholders of the companies severally stockholders of the consolidated
company under the title of the Norwich and Worcester Railroad Company.
The new Company was organized early in 1837, and during that and the
next year was engaged in making surveys and contracting for the construc-
tion of the road, which was completed and opened for business early in 1840.
SHARE CAPITAL-Authorized, $2,825,000, in 28,250 $100 shares.
Paid in, - - $2,122,500, in 21,225
"
FUNDED Девт-$714,998; classified as follows—
1st Mortgage (State Loan), 6 per cent., coupon bonds
$400,000
-dated 1st July, 1857, and payable, principal in 20 years, and coupons semi-
annually, 1st January and 1st July, at the State House, in Boston. This
loan was originally made in 1837, for 20 years, at 5 per cent., and has been
extended from the date of maturity for a second term. The premium on
the bonds sold was set apart as a sinking fund, to which $10,000 are added
annually from net earnings. This fund now amounts to $53,500.
2d Mortgage, 6 per cent., coupon bonds
$205,800
-dated 1st August, 1845, and payable, principal 1st August, 1860, and
coupons semi-annually, 1st February and 1st August, at the American Ex-
change Bank, New York City. Present amount of sinking fund, $34,296.
Of these bonds, $142,000 are held by the Norwich Savings' Bank, and are
to be paid by annual contributions of $5,000, in addition to interest.
Extension 1st Mortgage, 7 per cent., bonds
$16,000
-dated 1st January, 1850, and payable, principal 1st January, 1860, and
NOTE.-In the statement for 1851, the previous earnings are included.
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214
CONNECTICUT-NORWICH AND WORCESTER.
interest semi-annually, 1st January and 1st July. These bonds have been
paid since the 30th November, 1859.
General Mortgage, 7 per cent., coupon bonds
$93,198
-dated 1st, 1847, and payable, principal 1st December, 1864 and 1874, and
interest semi-annually, 1st June and 1st December, at the Farmer's Loan
and Trust Company, in New York City. Of these bonds $30,000 are due
1st December 1864, and $63,198 1st December, 1874.
FLOATING DEBT-$14,079.
COST OF ROAD AND EQUIPMENT-$2,613,694 : in detail as follows-
Graduation and masonry
$614,530
Locomotives.
$75,540
Wooden bridges
32,750
Passenger and baggage cars
31,525
Superstructure, including iron
357,182
Merchandise cars
42,646
Stations, buildings and fixtures
49,169
Engineering
69,499
Land, land-damages and fences
142,592
Agencies and other expenses
1,198,261
INCOME ACCOUNT FOR THE YEAR ENDING 30TH NOVEMBER, 1859.
Receipts-
Disbursements-
Passenger earnings
$130,127
Maintenance of road, etc
$58,686
Freight
"
207,123
Repairs of rolling stock
50,866
U.S. mail
"
2,400
Operating expenses
102,772
Rents
1,465
Interest paid
42,225
Other income
6,375
Undivided surplus
97,141
Total
$351,690
Total
$351,690
GENERAL STATEMENT, 1ST OCTOBER, 1859.
Dr.
Cr.
Cost of road
$2,463,983
Share capital: 21,225 shares
$2,122,500
"
rolling stock
149,711
State loan
400,000
Assets and other property
166,405
Funded debt
314,998
Profit and loss
71,478
Floating debt
14,079
Total
$2,851,577
Total
$2,851,577
COST, EARNINGS, EXPENSES, ETC., YEARLY.
Cost
Mile-
Gross Earnings
Operating
Earnings.
-Div.-
Year. of Road.
age.
Pass'gers.
Freight. Mails, etc. Total.
Expenses.
less exp.
$
p c.
1840 81,777,471
66 00
$78,889
$33,754
$3,844
$116,517
$52,503
$64,014
nil.
nil.
1841
2,157,037
66.00
99,332
50,594
3,335
155,261
78,805
76,456
=
"
1842
2,158,562
66.00
94,343
50,419
12,596
157,358
75,195
82,163
"
"
1843
2,166,566
66 00
95,856
51,103
15,376
162,335
85,899
76,436
"
"
1844
2,170,365
66.00
135,654
78,788
16,232
230,674
80,412
150,262
45,000
3
1845
2,170,491
66 00
116,201
77,665
10,442
204,308
89,621
114,687
45,000
3
1846
2,178,788
66.00
118,909
110,750
12,250
241,909
118.387
123,522
nil.
nil.
1847
2,187,249
66 00
114,310
108,003
12,582
234,895
141,433
93,462
"
"
1848
2,187,839
66 00
100,272
99,959
17,842
218,073
92,784
125,289
"
"
1849
2,095,508
66.00
104,398
114,144
17,655
236,197
114,869
121,328
"
"
1850
2,598,514
66.00
110,109
134,382
16,768
261,259
127,313
133,946
33,896
21
1851
2,585,104
66 00
117,606
137,573
14,870
270,049
138,550
131,499
74,692
4
1852
2.596,488
66 00
112,933
139,009
15,619
267,561
156,746
110,815
89,711
41
1853
2,596,488
66 00
138,294
159,326
23,426
321,046
169,824
151,222
84,418
4
IS54
2,596,488
66.00
138,374
161,268
23,112
322,754
191,201
131,553
126,690
6
1855
2,596,153
66 00
125,998
155,592
22,645
304,235
215,777
88,458
52,787
21
1856
2,598,677
66 00
134.197
170,851
18 354
323,402
233,695
89,707
nil
nil.
1857
2,616,811
66.00
124,554
150,328
12,874
287,756
243,139
44,617
"
"
1858
2,613.694
66 00
111,230
157,872
14,455
283,557
183,189
100,368
"
"
1859
2,613,694
66.00
130,126
207,123
14,440
351,689
212,324
139,365
"
"
20
ys.
47,262,977
1320.00
2,301,565
2,350,533
298,737
4,950,835
2,801,666
2,149,169
552,192
Aver. 2,363,149
66.00
115,078
117,526
14,937
247,541
140,083
107,458
27,609
If
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LAWS OF THE STATE IN REFERENCE TO RAILROADS.
List of all the Railroad Companies chartered in the State of Connec-
ticut, with the dates of the Acts of their incorporation; and also the dates
and abstructs of all laws passed by the Legislature in reference thereto.
The asterisk [*] prefixed signifies that the work of construction has not been commenced.
Corporate Titles.
Laws.
Abstructs of Laws.
BOSTON & NEW YORK CENTRAL
1854, p. -
United with Blackstone and Southbridge, May.
Bosron, Nonwich & NEW LONDON.
1832, p. -
Act of incorporation, May.
"
"
"
"
1836, p. -
May unite with Worcester and Norwich, May.
*BRANCH
1845, p. -
Act of incorporation, May.
CHARLES RIVER (of Massachusetts)
1856, p. -
May unite with New York and Boston, May
*DANBURY & NEW YORK
1849, p. -
Act of incorporation, May.
DANBURY & NORWALK
1850, p. -
Act of incorporation, May.
EAST THOMPSON
1853, p. -
Act of incorporation, May.
"
"
1856, p. -
Time for completion extended, May
"
"
1858, p -
Time for completion extended, May
"
"
1859, p. -
Charter revived, June 9.
FAIRFIELD COUNTY
1835, p. -
Act of incorporation, May.
"
"
1846, p. -
Relative to the charter, May.
1.
"
1850, p. --
Changed to Danbury and Norwalk, May.
*FARMINGTON CANAL
1846, p. -
Act of incorporation, May.
"
"
1848, p. -
Authorized to extend branch, May.
"
"
1848, p. -
Authorized to purchase steamboats, May.
"
"
1849, p. -
Time for construction extended, May.
"
"
1849, p.
Authorized to borrow money, May.
FARMINGTON VALLEY
1852. p. -
Act of incorporation, May.
"
"
1856, p. -
Time for construction extended, May.
"
"
1858, p. -
Time for construction extended, May.
"GRANBY
1854, p. -
Act of incorporation, May.
HARTFORD & New HAVEN
1833, p. -
Act of incorporation, May.
"
"
"
1836, p. -
Relative to Directors, December.
46
"
"
1838, p. -
Time extended for completion, May.
"
"
"
1839, p. -
Authorized to issue bonds, May.
"
"
"
1839, p. --
Authorised to own steamboats, May.
"
"
"
1842, p. -
Charter amended, May.
"
"
"
1842, p. -
Authorized to-extend road, October.
"
"
"
1844, p. -
Time for completion extended, May.
"
"
"
1844, p. -
Changed to New Haven and Hartford, May.
"
"
"
1845, P. -
May unite with Hartford and Springfield, May.
"
"
"
1851, P -
May extend Middletown branch, May.
"
66
"
1852, p. -
Authorized to increase capital stock, May.
64
"
"
1857, p. -
Authorised to increase capital stock, May.
HARTFORD & PROVIDENCE
1847, p. -
Act of incorporation, May.
"
"
1848, p. -
Charter amended, May.
"
"
1848, p. -
Authorised to borrow money, May.
"
"
1849, p. -
Relative to suits, May.
"
"
1849, p. -
Time for completion extended, May.
"
"
1849, p.
May unite with New York and Hartford, May
"
"
1850, p. --
Loan credit of the City of Hartford, May.
HARTFORD, PROVIDENCE & FISHLILL
1849, p. -
Union of New York and Hartford and Hartford
and Providence Companies, May.
"
"
"
1851, p. -
Charter amended, May.
"
"
"
1851, p. -
Time of annual meeting changed, May.
"
"
:
1852, p. -
United with Providence and Plainfield, May.
"
"
"
1854, p. -
May increase capital stock, May.
"
"
"
1839, p. -
Authorized to Issue bonds, June 17.
HARTFORD & SPRINGFIELD
1835, p. -
Act of incorporation, May.
"
"
1838, p. -
Relative to construction of road, May.
"
"
1840, p. -
May take stock in Mass. Extension, May.
215
Digitized by Google
216
CONNECTICUT-RAILROAD LAWS.
Corporate Titles.
Laws.
Abstracts of Laws.
HARTFORD & SPRINGFIELD
1840, p. -
Relative to stockholders, May.
"
"
1841, p. -
Repeal sec. 1 of act of incorporation, May.
"
"
1841, p. -
Time for completion extended, May.
"
"
1842, p. -
Authorised to commence operations, May.
"
"
1842, p. -
Charter amended, May
"
"
1845, p. -
May organize with $300,000 capital, May.
HOUSATONIC
1836, p. -
Act of incorporation, May.
"
1838, p. -
Authorised to construct branches, May.
"
1838, p. -
Relative to the proceedings of, May.
46
1839, p. -
Relative to Commissioners, May 29.
"
1841, p. -
Authorized to extend road in Bridgeport, May.
"
1842, p. -
Comm'ers appointed to examine road, June 9
"
1842, p. -
Relative to Commissioners, June 6.
"
1843, p. -
Authorised to sell forfeited stock, June 7.
"
1844, p. -
Authorized to sell surplus stock, May.
"
1844, p. -
Relative to joint stock companies, May.
"
1844, p. -
Relative to mortgages, May.
16
1845, p. -
May increase stock and issue bonds, May.
"
1845, p. -
Charter amended, May.
"
1850, p. -
Relative to annual meeting, May.
*KILLINGLY
1851, p. -
Act of incorporation, May.
*MANCHESTER
1833, p. -
Act of incorporation, May.
"
1839, p. -
Time for organizing extended, May.
"
1847, p. -
Changed to Hartford and Providence, May
*MERIDEN
1852, p. -
Act of incorporation, May.
MIDLAND
1858, p. -
May purchase Boston and N. Y. Central, May.
"
1859, p. -
Relative to purchase of the same, June 15.
*MIDDLESEX & HARTFORD
1852, p. -
Act of incorporation, May.
"
"
1854, p. -
Authorized to borrow money, May.
"
48
1855, p. -
Time for construction extended, May
"
"
1857, p. -
Time for construction extended, May.
"
"
1859. p. -
Time for construction extended, June.
MIDDLETOWN
1844, p. -
Act of incorporation, May.
"
!849, p. -
Relative to Railroad in Middletown, and time
extended for construction, May.
*MIDDLEBURY & STOCKBRIDGE
1859, p. -
Time for completion extended, May.
*MILBURY & SOUTHBRIDGE
1853, P. -
Act of incorporation, May.
"
"
1857, p. -
Time for construction extended, May.
"
"
1858, p. -
Authorized to transfer to Midland, May.
"
"
1859, p. -
Time for construction extended, June 11.
NAUGATUCK
1845, p. -
Act of incorporation, May.
"
1847, p. -
Authorized to borrow money, May
"
1848, p. -
Authorized to borrow money and increase
capital stock, May.
"
1853, p. -
Reviving certain powers, May.
=
1854, p. -
Authorized to increase capital, May.
"
1854, p. -
Commissioners for location appointed, May.
"
1855, p. -
Relative to bonds, May.
"
1856, p. -
Authorised to issue bonds, May.
"
1857, p. -
Charter amended, May.
*New BRITAIN & MIDDLETOWN
1852, p -
Act of incorporation, May.
"
4.
"
1855, p. -
Time for construction extended, May.
"
"
"
1856, p. -
Time for construction extended, May.
"
"
"
1858, p. -
Time for completion extended, May.
*NEW BRITAIN & PLYMOUTH
1845, p. -
Act of incorporation, May.
*NEW HAVEN, DANBURY & ERIK
1848, p. -
Act of incorporation, May.
"
"
"
"
1850, p. -
Relative to commencing operations, May.
*N. HAVEN, HART. & SPRINGFIELD
1844, p. -
May unite with Hartford and N. Haven, May
"
"
"
1845, p. -
Time of union extended, May.
NEW HAVEN & NEW LONDON
.....
1848, p. -
Act of incorporation, May.
"
"
41
"
1849, p. -
Authorized to borrow money, May.
"
"
"
"
1850, p. -
Amends section 1 of charter, May.
N. HAVEN, N. LONDON & STONINGTON
1856, p. -
Act of incorporation, May.
"
"
"
be
1857, P -
May construct bridge over Mystic River, May
"
:
"
"
1859, p. -
Authorised to issue bonds, June 1.
New HAVEN & NORTHAMPTON
1848, p. -
Changed from Farmington Canal, May.
"
"
"
1851, p.
Altering the report of Commissioners, May.
"
"
"
1854, p. -
Authorized to use Farmin'n Valley RR., May
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CONNECTICUT-RAILROAD LAWS.
217
Corporate Titles.
Laws.
Abstracts of Laws.
NEW LONDON NORTHERN
1859, p.
Act of incorporation, May.
NEW LONDON & STONINGTON
1852, p. -
Act of incorporation, May.
"
"
of
1855, p.
-
Time for completion extended, May
"
"
"
1856, p. -
May unite with N. Haven and N. London, May.
N. LONDON, W'MTIC & SPRINGFIELD
1847, p.
-
Act to incorporate, May.
"
"
"
1848, p. -
Changed to N.L., Willimantic & Palmer, May.
N. LONDON, WILLIMANTIC & PALMER
1849, P. -
Authorized to issue bonds, May.
"
"
"
1851, p. -
Time for completion extended, May.
.1
"
"
1852, p. -
May subscribe to Amherst & Belchertown, May.
"
"
"
1854, p. -
Confirming the acts of the Company, May.
"
"
"
1855, P. -
Repealing sec. 19 of act of incorporation, May.
"
"
"
1855, p. -
Time for location extended, May.
"
"
"
1856, p. -
May sell road, May.
"
"
"
1857, p. --
Charter amended, May.
"
"
"
1859, p. -
Relative to deposit of moneys, May.
NEW YORK & BOSTON
1846, p. -
Act of incorporation, May.
"
"
"
1847, p. -
Relative to commencing operations, May.
"
"
"
1849, p. -
May build a bridge over Conn. River, May.
"
"
"
1849, p.
Authorized to borrow money, May.
"
"
"
1852, p. -
Time of completion extended, May.
"
"
"
1854, p. -
Authorised to issue bonds, May.
"
"
"
1854, p. -
May unite with Woonsocket Union RR, May.
"
"
as
1856, p. -
Time of completion extended, May.
"
"
"
1856, p. -
Union with Charles River RR. confirmed, May.
"New YORK & HARTFORD
1845, p. -
Act of incorporation, May.
"
"
"
1845, p. ---
Relative to commenoing operations, May.
"
it
"
1846, p. -
May subscribe to N.Y. and Conn. RR., May
"
"
"
1847, p. --
Time for completion extended, May.
"
"
"
1849, p. -
Time for completion extended, May.
NEW YORK & NEW HAVEN,
1844, p. -
Act of incorporation, May.
"
"
"
"
1845, P -
Time extended for completion, May.
"
"
"
"
1846, p. -
Confirms laws of State of New York, May.
"
"
"
"
1855, p. -
Authorized to issue bonds, May.
"
"
"
"
1855. p. -
Authorized to compromise claims, May.
N. YORK, PROVIDENCE & BOSTON
1833, p. -
Act of incorporation, May.
"
"
"
1851, p. -
Authorized to issue preferred stock, May.
"
"
"
1858 p. -
To aid construction of N. Lon. Extension, May.
"
"
"
1859, p. -
Relative to New Haven & New London. May.
"NEW YORK & STONINGTON
1832, p -
Act of incorporation, May.
"
61
"
1833, p. -
United with N. York, Prov and Boston, May.
"NORWICH & LYME
1841, p. -
Act of incorporation, May.
*NORWICH & WESTBROOK.
1651, p.
Act of incorporation, May.
NORWICH & WORCESTER
1832, P --
Act of incorporation, May.
"
.1
1840, p. -
Time for location extended, May.
"
"
1842, P -
Relative to debt, May.
"
"
1843, p. -
Authorized to issue bonds, May.
u
"
1845, p. -
May subscribe to Worcester & Nashua, May.
"
"
1848, p. -
Authorized to increase capital stock, May
"
"
1850, p. -
Authorized to increase capital stock, May.
54
"
1850, p. -
Charter amended, May.
"
"
1853, p. -
Authorized to construct branch, May.
"
..
1854, p.
Ratifying act of Massachusetts, May.
"
'8
1855, p. -
Concerning bridges, May.
"
"
1856, p. -
Time for completing branch extended, May.
"
"
1857, p. -
Approving act of Massachusetts, May.
*ROCKVILLE BRANCH
1857, p. -
Act of incorporation, May.
"SALEM & LISBON
1852, p. -
Act of incorporation, May.
"SHARON & SALISBURY
1832, p. -
Act of incorporation, May.
SOUTHBRIDGE & BLACKSTONE
1854, p. -
United with Boston and N. Y. Central May.
*STAMFORD & DANBURY
1850, p. -
Act of incorporation, May.
*THOMPSON & WILLIMANTIC
1857, p. -
Act of incorporation, May.
*UNION BRANCH
1856. p. -
Act of incorporation, May.
"
"
1857, p. -
Charter amended, May.
"
"
1859, p. -
Time for construction extended, June 17.
*WESTBROOK & DEEP RIVER
1855, p. -
Act of incorporation, May.
"
"
"
1858, p. -
Time for construction extended, May.
*WILLIMANTIC & THOMPSON
1849, p.
Act of incorporation, May.
*WINDSOR & TARIFFVILLE
1850, p. -
Act of incorporation, May.
28
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STATE OF NEW YORK.
ALBANY AND SCHENECTADY.
NEW YORK AND ERIE.
ALBANY AND SUSQUEHANNA.
NEW YORK AND HARLEM.
ALBANY AND VERMONT.
New YORK AND NEW HAVEN.
ALBANY AND WEST STOCKBRIDGE.
NIAGARA BRIDGE AND CANANDAIGUA.
ATLANTIC AND GREAT WESTERN
NIAGARA FALLS AND LAKE ONTARIO.
ATTICA AND ALLEGHANY VALLEY.
NINTH AVENUE, (New York City.)
ATTICA AND BUFFALO.
OGDENSBURG, (Northern.)
AUBURN AND ROCHESTER.
OGDENSBURG, CLAYTON AND ROME.
AUBURN AND SYRACUSE.
OSWEGO AND SYRACUSE.
Avon, GENESEO AND MOUNT MORRIS.
PANAMA.
BLACK RIVER AND UTICA.
PLATTSBURG AND MONTREAL.
BLOSSBURG AND CORNING.
POTSDAM AND WATERTOWN.
BROADWAY, (Brooklyn.)
RENSSELAER AND SARATOGA.
BROOKLYN CENTRAL.
ROCHESTER AND GENESEE VALLEY.
BROOKLYN CITY.
ROCHESTER AND LAKE ONTARIO.
BROOKLYN AND JAMAICA.
ROCHESTER, Lock. & NIAGARA FALLS.
BUFFALO AND BLACK Rock.
ROCHESTER AND SYRACUSE.
BUFFALO, BRADFORD AND PITTSBURG.
RUTLAND AND WASHINGTON.
BUFFALO, CORNING AND NEW YORK.
SACKETT'S HARBOR AND ELLISBURG.
BUFFALO AND NEW YORK CITY.
SARATOGA AND SCHENECTADY.
BUFFALO, NEW YORK AND ERIE.
SARATOGA AND WASHINGTON.
BUFFALO AND NIAGARA FALLS.
SARATOGA AND WHITEHALL.
BUFFALO AND ROCHESTER.
SCHENECTADY AND TROY.
BUFFALO AND STATE LINE.
SECOND AVENUE, (New York City.)
CAYUGA AND SUSQUEHANNA.
SIXTH AVENUE, (New York City.)
CHEMUNG.
SKANEATELES AND JORDAN.
EIGHTH AVENUE, (New York City.)
SODUS POINT AND SOUTHERN.
ELMIRA, JEFFERSON & CANANLAIGUA.
STATEN ISLAND.
ERIE AND NEW YORK CITY.
SYRACUSE, BINGHAMTON & N. York
FLUSHING.
SYRACUSE AND UTICA.
GENESEE VALLEY.
THIRD AVENUE, (New York City.)
HICKVILLE AND COLD SPRING.
TONAWANDA.
HUDSON AND BOSTON.
TROY AND BENNINGTON.
HUDSON RIVER.
TROY AND BOSTON.
LAKE ONTARIO, AUBURN & N. YORK.
TROY AND GREENBUSH.
LAKE ONTARIO AND HUDSON RIVER.
TROY AND RUTLAND.
LEBANON SPRINGS.
TROY UNION.
LEWISTON.
UTICA AND SCHENECTADY.
LONG ISLAND.
WATERTOWN AND ROME.
NEW YORK CENTRAL.
WILLIAMSPORT AND ELMIRA.
The Railroad first constructed in the State of New York was the Mohawk
and Hudson. It was chartered in 1826, and its construction commenced in
1830, and completed in 1831. It was one of the first in the United States
on which locomotive power was used, two engines having been placed on it
soon after its opening. It was constructed with inclined planes, worked by
stationary engines near each terminus, with inclinations of one foot in
eighteen. The plane near Albany was 3,102 feet long; that near Schenec-
218
Digitized by Google
STATE OF NEW YORK.
219
tady 2046 feet. The rail used was a flat bar, 9-16ths by 21 inches, laid upon
longitudinal sills. The planes were removed in 1844, when the road was
re-constructed. In 1847 its title was changed to the Albany and Schenectady,
and in 1853 it was consolidated into the New York Central. For the earlier
years of its history it paid nothing to its stockholders, the greater portion
of its earnings being used in the maintenance and re-construction of the road.
The second road constructed was the Saratoga and Schenectady, which
was commenced on the 1st September, 1831, and completed on the 12th
July, 1832. It was rudely constructed according to the standards then
existing, with flat bars laid upon longitudinal sills. It was an unproductive
work till 1851, when it was leased to the Rensselaer and Saratoga Company
at an annual rental of $30,150.
The railroad next undertaken was the New York and Harlem, of which
about one mile of that road in the city of New York was opened in 1832.
This road was not finally completed till 1852. It has not been productive
on its common stock, having paid its holders dividends equalling only 0.8 per
cent. It has a valuable entrance into the city of New York, and, in con-
nection with the Western, forms a line between that city and Albany.
In 1834, two roads, the Buffalo and Black Rock, 3.34 miles long, and the
Ithaca and Owęgo Railroad, 28.76 miles, were opened. The former was a
cheaply constructed road, and was abandoned on the opening of the Buffalo
and Niagara Falls Railroad. The Ithaca and Owego Railroad was, at the
time, regarded as a work of great public interest and importance. The
State loaned its credit to it, to the amount of $315,700, which, with the
interest accruing, was nearly a total loss-the road being sold at auction by
the Comptroller of the State in 1842 for $4,000, and re-organized under the
title of the Cayuga and Susquehanna. For many years after its construction
it was entirely unproductive. It has been since re-constructed, and leased
to the Delaware, Lackawanna and Western, at an annual rental of $54,000.
In 1835, the Rensselaer and Saratoga Railroad was opened, its construc-
tion having been commenced in 1833. This has been a successful work,
having annually returned to its shareholders, since 1843, dividends at the
rate of 5.6 per cent.
In 1836, 89 miles of railroad were opened-the Brooklyn and Jamaica
11 miles, and the Utica and Schenectady, 78 miles. The Brooklyn and
Jamaica was leased from its opening to the Long Island Railroad Company,
at an annual rental of $33,300. This lease is about to be cancelled, and the
road consolidated into the Brooklyn Central and used as a city or horse
road. The Utica and Schenectady was consolidated into the New York
Central in 1853. It was one of the most productive railroads in the country,
having paid dividends averaging 10 per cent. per annum.
In 1837, 72 miles were opened-the Buffalo and Niagara Falls, 22 miles;
the Lewiston, 3.50 miles; the Long Island, 15.06 miles, and the Tonawanda,
Digitized by
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220
STATE OF NEW YORK.
31.50 miles. The Buffalo and Niagara Falls Railroad was a productive
work, paying dividends at the average rate of 7.3 per cent. In 1855 it was
consolidated with the New York Central. The Tonawanda Railroad was
consolidated with the Attica and Buffalo into the Buffalo and Rochester in
1850. Previous to the consolidation, it paid dividends averaging 4.50 per
cent. In 1853, the joint line was consolidated into the New York Central.
The Lewiston was operated for some time by horse power. In 1854, it was
extended to the Buffalo and Niagara Falls Railroad, and in 1855 it was con-
solidated into the New York Central. The Long Island Railroad was not
finally completed till 1844. Toward its construction the State loaned its
credit to the amount of $100,000. The road has paid nothing to its stock-
holders.
In 1837 no railroad was opened. In 1838 53.47 miles were completed,
the Auburn and Syracuse, 21.97 miles, and the Hudson and Berkshire, 31.50
miles. The Auburn and Syracuse Railroad was merged, in 1850, into the
Rochester and Syracuse, and in 1853, into the New York Central. It was
a productive work, paying dividends averaging 8 per cent. Toward the
construction of the Hudson and Berkshire Railroad, the State loaned its cre-
dit to the amount of $150,000, which became a total loss, as the road was
sold, in 1854, under the foreclosure of a mortgage taking precedence of the
State lien. It was purchased by the Western Railroad Company of Massa-
chusetts, by which the western portion has been re-constructed, under the
name of the Hudson and Boston. The portion east of Chatham has been
abandoned.
In 1839, 57.15 miles were opened-the Syracuse and Utica, 53 miles, and
the Auburn and Syracuse (extended), 4.15 miles. The Syracuse and Utica
was consolidated into the New York Central in 1853, after having paid divi-
dends averaging 10 per cent.
In 1840 no additional mileage was opened. In 1841, 167.23 miles were
opened, viz: the Auburn and Rochester, 78 miles; the Blossburg and
Corning, 14.81 miles: the New York and Erie, 46.13 miles, and the Albany
and West Stockbridge, 23.13 miles; and the Long Island was extended
5.16 miles. The Auburn and Rochester was consolidated with the Auburn
and Syracuse into the Rochester and Syracuse, in 1850, and the joint line
into the New York Central in 1853. Both roads were productive, paying
dividends averaging 8 per cent. The Blossburg and Corning, which was
operated many years without profit, was re-constructed in 1852, and leased
to the Tioga Railroad Company of Pennsylvania at an annual rental of two-
thirds of its gross earnings. The Albany and West Stockbridge was con-
structed and is owned by the Western Company of Massachusetts,
forming a part of its line. The New York and Erie was finally completed
in 1851. For account of this road reference is made to the statement in the
body of this work.
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STATE OF NEW YORK.
221
In 1842, 97.91 miles were opened-the Attica and Buffalo, 31.95 miles;
the Schenectady and Troy, 20.50 miles; the Albany and West Stockbridge,
15.12 miles; the Tonawanda, 12.04 miles; the Long Island, 11.94 miles, and
the Harlem, 6.26 miles. The Attica and Buffalo and Tonawanda Railroads
were consolidated in 1850 under the title of the Buffalo and Rochester, and
were united with the New York Central in 1853. The connection of these
roads completed the line between the Hudson River and Lake Erie. The
Attica and Buffulo was a productive work, paying dividends averaging 91
per cent. The Schenectady and Troy was operated at a loss till 1853, when
it was consolidated into the New York Central.
In 1843, 12.11 miles were opened-the Skeneateles and Jordan, 5.27 miles,
and the New York and Erie, 6.84 miles. The Skeneateles and Jordan was
used as a horse railroad for several years and then abandoned.
In 1844, 66.81 miles were opened-the Long Island being extended 54.81
miles, and the New York and Harlem 12.00 miles.
In 1845, the Troy and Greenbush, 6.00 miles, was opened. In 1851, it
was leased to the Hudson River Railroad Company for 999 years, at an
annual rental of 7 per cent. on its cost. It had previonsly paid dividends at
the rate of about 3 per cent.
In 1846, the New York and Erie Railroad was extended 6.00 miles.
In 1847, 37.33 miles of road were opened-the New York and Erie being
extended 12.08 miles, and the New York and Harlem 25.25 miles.
In 1848, 104.66 miles were opened-the Oswego and Syracuse, 35.91 miles;
the Saratoga and Wasnington, 28.34, and that portion of the New York and
New Haven in the State of New York, 14.14 miles, and the New York
and Harlem was extended 28.91 miles. The Oswego and Syracuse Rail-
road has been productive, having paid its stockholders dividends, in cash
and stock, averaging 64 per cent. The Saratoga and Washington was sold
in 1855, under process of foreclosure, and re-organized under the title of the
Saratoga and Whitehall. It has been almost entirely unproductive to its
stockholders, having paid dividends at the rate of only 1.10 per cent.
In 1849, 310.36 miles were opened-the Hudson River, 66.09 miles; the
Northern (Ogdensburg), 15.06 miles; the Watertown and Rome, 18.11 miles;
the Chemung, 17.36 miles, and the Erie was extended 193.74 miles. The
Hudson River Railroad has thus far paid nothing on its stock. The North-
ern has proved an unfortunate enterprize, and was sold in 1856 upon a pro-
cess for the foreclosure of its second mortgage, for $1,500,000; the purchasers
organizing a new company under the title of the Ogdensburg Railroad Com-
pany. It has earned the interest on its first mortgage bonds. The Water-
town and Rome has been a productive work, having paid dividends averaging
7 per cent. The Chemung Railroad was leased to the Erie for 10 years
from its opening, at an annual rental of $36,000. On 1st January, 1859, a
new lease for 20 years was executed, with a rental of $30,000 annually
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222
STATE OF NEW YORK.
In 1850, 168.48 miles were opened-the Northern, 42.86 miles; the Wate--
town and Rome, 24.00 miles; the Hudson River, 8.62 miles; the Saratoga
and Whitehall, 18.88 miles; the Erie, 69.27 miles, and the Cayuga and Sus-
quehanna, 5.85 miles.
In 1851, 385.92 miles were opened. The Canandaigua and Corning,
46.84 the Buffalo, Corning and New York, 44.74; the Troy and Rutland,
17.27; the Watertown and Rome, 30.08; the Ogdensburg, 50.20; the Hud-
son River, 69.01, and the Erie, 127.78 miles. The title of the Canandaigua
and Corning was chauged, in 1850, to the Canandaigua and Elmira. In
1858 the road was sold for $200,000, on the foreclosure of its first mortgage,
and a new company organized under the name of the Elmira, Jefferson and
Canandaigua. On the 1st January, 1859, it was leased to the Erie Railroad
for a period of 20 years, at an annual rental of $30,000. The Buffalo,
Corning and New York Railroad went into the hands of its first mortgage
bondholders in 1856, who foreclosed their mortgage, and in 1857 sold the
road to the Buffalo, New York and Erie Railroad Company. The Troy
and Rutland Railroad was leased for the period of its charter to the Rutland
and Washington Railroad of Vermont, at an annual rental of six per cent.
on its cost. The amount has since been reduced to $16,000 annually by an
agreement between the companies.
In 1852, 407.93 miles were opened. The Buffalo and State Line was
opened 27.34 miles; the Buffalo and New York City, 91.50 miles; the Platts-
burg and Montreal, 23.17 miles; the Rochester, Lockport and Niagara Falls,
76.50 miles; the Sixth Avenue (New York City), 3.71 miles; the Troy and
Bennington, 5.38 miles; the Troy and Boston, 32.56 miles; the Williamsport
and Elmira, 8.00 miles. The Buffulo and Rochester Railroad was extended
4.49 miles; the New York and Harlem, 50.51 miles; the Northern, 60.20
miles, and the Watertown and Rome, 24.57 miles. The Buffalo and State
Line was fully opened in 1853, and has been a productive work, having paid
dividends averaging 9 per cent. The Buffalo and New York City failed to
pay its interest falling due on the 1st of July, 1854, and its affairs have since
been involved in litigation. The western division of the road, 311 miles long,
was sold under a process for foreclosure; the purchasers sold the same to
the Buffalo, New York and Erie, and it now forms a part of a new road
from Buffalo to the New York and Erie; the division from Attica to Hornells-
ville, 60 miles, is run as a branch of this road. The rights of the several
classes of creditors of the Buffalo and New York City Railroad are being
made the subject of legal adjudication. The Plattsburg and Montreal Rail-
road has probably been run without profit since its opening. It was sold in
1858 for $150,000, under a process for the foreclosure of its first mortgage.
It is still operated by trustees appointed by court. The Rochester, Lockport
and Niagara Falls Railroad was consolidated in 1853 into the New York
Central. The Sixth Avenue Railroad has paid annually 81 per cent to its
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STATE OF NEW YORK.
223
stockholders. The Troy and Bennington was leased to the Troy and Boston
for 20 years from its opening, at an annual rental of about 6.50 per cent. on
its cost. The Troy and Boston has been unproductive to its stockholders.
The Union is a small link connecting the Erie with the Paterson and Ramapo
of New Jersey, and is owned by it. The Williamsport and Elmira is
described among the railroads of Pennsylvania.
In 1853, 267.96 miles were opened. The Albany, Vermont and Canada
was opened 32.95 miles; the Flushing, 7.80 miles; the Canandaigua and
Niagara Falls, 87.18 miles; the Rochester and Lake Ontario, 6.88 miles;
the Sackett's Harbor and Ellisburg, 18.50 miles; the Second Avenue (New
York), 5.76 miles, and the Third Avenue (New York), 5.87 miles. The
Buffalo and State Line was extended 41 miles; the Buffalo, Corning and New
York, 45.17 miles; the Troy and Rutland, 14.73 miles; the New York and
Harlem, 2.12 miles. The New York Central Railroad was formed this year
by the consolidation of several roads. The Albany, Vermont and Canada
has been a disastrous enterprise, its earnings only slightly exceeding its cur-
rent expenses. It has been twice sold under processes for foreclosure of its
mortgages, the last sale being for $25,000. Under this sale a new company
has been organized. The Flushing Railroad has also been sold on process
for foreclosure of its first mortgage, and a new company organized. The
title of the Canandaigua and Niagara Falls was changed to that of the
Niagara Bridge and Canandaigua Company in 1858. This road passed into
the hands of its first bondholders on a process for the foreclosure of their
mortgage, who leased the road in perpetuity to the New York Central Rail-
road Company in 1858, at an annual rental of $60,000. The Rochester and
Lake Ontario Railroad has been merged into the New York Central. The
Sackett's Harbor and Ellisburg, after having been run some time at a loss,
has been abandoned as a public highway. The Second Avenue has paid
dividends averaging 31, and the Third Avenue dividends averaging 61 per
cent.
In 1854, 179.82 miles were opened-the Brooklyn City (horse), 14.43
miles; the Potsdam and Watertown, 17.23 miles; the Rochester and Gen-
esee Valley, 18.45 miles; the Syracuse and Binghamton, 79.69 miles; the
Eighth Avenue, 5.09 miles; the Hicksville and Cold Spring, 4.00 miles; the
Niagara Falls and Lake Ontario, 13.15 miles, and the Troy Union, 2.14 miles.
The Niagara Falls and Canandaigua was extended 13.03 miles; the Buffalo,
Corning and New York, 10.09 miles; and the Northern, 2.52 miles. The Brook-
lyn City road has paid dividends averaging 6.09 per cent. The Potsdam
and Watertown has failed to pay the interest on its first mortgage bonds;
a portion of the same has been supplied by the Watertown and Rome Rail-
road Company, which guaranteed their payment. The Rochester and Gen-
esee Valley Railroad has been leased to the Buffalo, New York and Erie
Railroad, at a rental of 52 per cent. of its gross earnings. Previous to the
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224
STATE OF NEW YORK.
lease, it had paid nothing to its stockholders. The Eighth Avenue (New
York City), road has paid dividends averaging 11 per cent. The Niagara
Falls and Lake Ontario was never fully brought into use, and may be regarded
as abandoned. It was designed as an extension of the Niagara Falls and
Canandaigua. The Syracuse and Binghamton was sold in 1856, on the
foreclosure of its first mortgage, and a new company formed under the title
of Syracuse and Southern. It has paid nothing to its stockholders. The
Hicksville and Cold Spring is leased to the Long Island, at a rental of 7 per
cent. on its cost. The Troy Union was constructed by the several companies,
the railroads of which enter Troy, and which guarantee 7 per cent. on the
bonds issued by the city for its construction.
In 1855, 31.12 miles were opened-the Black River and Utica was opened
16.00 miles; the Potsdam and Watertown was extended 12.13 miles; the
Brooklyn City, 2.99 miles. The Black River and Utica has proved an
unproductive work, and is soon to be sold under process for the foreclosure
of its first mortgage. In this year (1855) the road of the Panama Railroad
Company, which is a corporation of the State of New York, was opened for
its whole length. This has been a productive work, and has paid dividends
averaging nearly 11 per cent. Since it commenced operations, in 1852, its
net earnings have nearly equaled the cost of the road.
In 1856, 46.17 miles were opened-the Potsdam and Watertown was
extended 24.64 miles, and the Black River and Utica, 21.53 miles.
In 1857, 34.53 miles were opened-the Potsdam and Watertown was
extended 21.36 miles, and the Brooklyn City 2.17 miles. The connecting
link in the Buffalo, New York and Erie, and between the Attica and Bata-
via, 11.00 miles, was also built.
In 1858, the Union (at Syracuse), 1.25 miles, was opened.
In 1859, the Ninth Avenue (New York City), was opened 3.50 miles; the
Broadway (Brooklyn City), 4.50 miles, and the Genesee Valley, 15.53 miles.
Total in the year, 23.53 miles.
NEW YORK CITY PASSENGER ROADS.
What are termed City Passenger, or Horse Railroads, were first brought
into use in the City of New York. The New York and Harlem was the
first road of the kind constructed, a portion of it within the city having been
opened in 1832. It has always been worked by horses below Twenty-seventh
street. No other road of the kind was completed till 1852, when the Sixth
Avenue Railroad was opened. This was followed, in 1853, by the Second and
Third Avenue roads; in 1854, by the Eighth, and in 1859, by the Ninth Avenue.
The success of these roads is a remarkable illustration of their adaptedness
to the wants of large cities, and the manner in which the right to build them
has been exercised, of the entire impunity with which the grossest out-
rages on the public are perpetrated in the city of New York. The saving
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STATE OF NEW YORK.
225
effected by city passenger roads over the cost of transporting passengers in
cities in omnibuses or stage coaches, is as great as that effected by the rail-
road over the ordinary highway. In substituting one for the other, there
should have been a fair reduction in the rates charged. This reduction,
however, has been only 17 per cent., while the saving effected is probably
three times as great. The profit resulting has consequently been enormous.
For the purpose of better concealing the value of these grants and silencing
the popular. clamor, the nominal cost of the roads has been swelled to an
extraordinary amount by an issue of stock and bonds exceeding many times
their actual cost. According to the statement made by the companies in
1856, the cost of the tracks per mile of the roads then in operation (exclud-
ing the New York and Harlem), was as follows :
Cost
Cost
per mile.
per mile.
Eighth Avenue
$97,137
Sixth Avenue
$138,750
Second Avenue
82,578
Third Avenue
166,666
The total length of the four roads was 22.89 miles. The aggregate cost
of their tracks alone was stated to be $2,794,676, equal, on an average, to
$122,000 per mile, for which $25,000 per mile, or $572,250 in the aggregate,
would have been an ample sum. For such an expenditure, in fact, stock
has been issued to the amount of $2,794,676, on which $308,414 were paid
last year in dividends, of which $244,668 must have been on account of
fictitious capital issued for track alone. All the other items of cost were for
a similar reason swelled in the same way, if not to the same degree. Since
1856, the accounts of the companies are not separated so as to give the cost
of the different items-for the purpose, undoubtedly, of better concealing the
immense value of these grants.
The following statement will show the date of opening, the mileage and
cost, the gross and net earnings, and the dividends of the Passenger or
Horse Railroads in the city of New York for 1859 :
Mile-
Cost of
Gross
Net
Divid nd
Roads.
Opened.
age.
road.
earnings.
earnings.
Amount.
Rate.
Eighth Avenue
1854
5.09
$769,550
$379,500
$126,629
$104,000
13
Second
"
1853
8.00
1,051,853
266,166
81,552
51,544
8
Sixth
"
1852
4.00
877,376
323,956
107,271
90,000
12
Third
"
1853
7.95
1,564,098
502,951
307,188
195,763
10
Total
25.04
$4,262,837
$1,472,573
$622,640
$441,307
The gross earnings of all the roads was 35 per cent. on their cost; the
net earnings nearly 15 per cent. Their gross earnings equaled probably
nearly the entire cost of the road and property of the companies, and the net
over 40 per cent. of the cost.
The value of the grants led to the extraordinary efforts to obtain similar
ones from the Legislature at its recent session, and has given a great impulse
to the construction of city passenger roads in all the important cities in the
United States.
29
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226
STATE OF NEW YORK.
STATEMENT, showing the Share Capital and Debts of the several Railroad Companies of the
State of New York, with the amount of productive and unproductive capital in each:
Corporate Titles of
Share Capital
Funded
Total Indebtedness
Companies.
Amount.
Productive.
Unprod.
Debt.
Amount Productive. Unprod.
Albany & Susque
$404,950
8
$404,950
$
$33,135
8
$33,135
Albany, Ver. & Can.
25,000
25,000
600,000
650,000
650,000
Albany, & W. Stock.
1,000,000
1,000,000
1,392,984
1,392,984
Black River & Utica.
804,648
804,648
700,000
708,158
708,158
Blossburg & Corning
250,000
250,000
220,000
220,000
220,000
Broadway (Brook.).
199,000
199,000
14,000
14,559
14,559
Brooklyn Central
200,000
200,000
Brooklyn City
1,000,000
1,000,000
Buff, Brad. & Pitts'g
250,134
250,134
8,525
8,525
8,525
Buff, N. Y. & Erie
680,000
680,000
2,410,721
2,662,863
2,662,863
Buff. & N. Y City
798,439
798,439
700,000
1,200,000
1,200,000
Buffalo & State Line
1,934,950
1,934,950
1,049,000
1,210,263
1,210,263
Cayuga & Susqueh's.
687,000
687,000
411,000
411,000
411,000
Chemung
380,000
380,000
70,000
70,000
70,000
Eighth Ave. (N.Y.C.)
800,000
800,000
Elmira, Jefferson &
Canandaigua
500,000
500,000
Erie, & N. Y. City
352,741
352,741
14,000
42,716
42,716
Flushing
Genesee Valley
75,689
75,689
165,000
207,500
207,500
Hicksv'le & C.Spring
27,820
27,820
17,190
17,442
17,442
Hudson & Boston
175,000
175,000
Hudson River
3,772,063
3,772,063
8,842,000
9,256,654
9,256,654
L. Ontario, Auburn
& New York
75,771
75,771
L. Ontario & Hud. R.
2,715,186
2,715,166
1.000,000
1,000,000
1,000,000
Lebanon Springs
106,728
106,728
98,600
107,202
107,202
Long Island
3,000,000
3,000,000
636,938
636,938
636,938
New York Central
24,000,000
24,000,000
14,333,771
14,333,771
14,333,771
New York & Erie
11,000,000
11,000,000
25,326,505
27,401,300
18,006,000
9,395,300
N. York & Harlem
5,717,100
5,717,100
5,446,689
5,446,689
5,446,689
Niagara Bridge &
Canandaigua
1,000,000
1,000,000
Ninth Ave (N.Y.C.)
795,360
795,360
Ogdensburg
1,500,000
1,500,000
1,494,900
1,494,900
1,494,900
Ogdensburg, Clay-
ton & Rome
474,481
474,481
10,200
74,268
74,268
Oswego & Syracuse.
396,340
396,340
213,500
224,375
224,375
Plattsburg & Mon-
treal
150,000
150,000
300,000
300,000
300,000
Potedam & Waterto'n
665,419
665,419
911,000
1,103,748
800,000
303,748
Rensselaer & Sara-
toga.
610,000
610,000
140,000
140,000
140,000
Rochester & Genesee
Valley
557,560
557,560
150,000
173,493
173,493
Sackett's Harbor &
Ellisburg
167,485
167,485
278,400
335,210
335,210
Saratoga & Schenec-
tady
300,000
300,000
85,000
85,000
85,000
Saratoga & White-
hall.
500,000
500,000
395,000
395,000
395,000
Second Ave. (N.Y.C.)
800,000
800,000
350,000
350,000
350,000
Sixth Ave. (N.Y.C.)
750,000
750,000
Staten Island
50,603
50,603
41,200
63,836
63,886
Syracuse, Bingham-
ton & New York
1,200,000
1,200,000
1,643,126
1,789,205
1,789,205
Third Ave. (N.Y.C.)
1,170,000
1,170,000
110,600
110,600
110,600
Troy & Bennington.
75,350
75,350
172,000
172,150
172,150
Troy & Boston
604,911
604,911
806,500
1,054,176
1,054,176
Troy & Greenbush
275,000
275,000
Troy & Rutland
249,939
249,939
100,000
100,000
100,000
Troy Union
30,000
30,000
680,000
680,000
680,000
Union & Ramapo
50,000
50,000
50,000
Watertown & Rome
1,498,500
1,498,500
685,000
685,000
685,000
Total
74,753,167
38,028,960
36,724,207
70,682,365
76,402,710
62,036,948
14,365,762
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STATE OF NEW YORK.
227
The total amount of capital invested in railroads in the State of New
York is $151,155,877, of which $74,753,167 is represented by stock
$70,682,365 by funded debt, and $5,720,345 by floating debt. Of the stock
$38,028,960 are productive, and $36,724,207 unproductive. Of the debts of
the companies $62,036,948 are productive, and $14,365,762 unproductive.
Of the total amount invested in the railroads of the State, $100,065,908 are
productive and $51,087,969 unproductive. In the unproductive debts are
embraced the unsecured bonds of the New York and Erie Railroad.
The total earnings of all the railroads of the State since the opening of
the first road have been $188,589,998-of which $96,968,421 have been
received for the transportation of passengers; $83,197,721 for the transpor-
tation of merchandise, and $8,423,851 for transportation of mails and from
miscellaneous sources. The aggregate current expenditures in the meantime
have been $109,251,777 ; the net earnings, $79,338,216. The gross amount
of dividends paid has been $31,408,446. The rate of gross earnings on the
liabilities of the companies have equaled 13 per cent. ; upon the cost of the
road a little over 14 per cent. The rate of net earnings have been 51 and 6
per cent. respectively. The dividends paid have averaged a little over 4 per
cent. on the aggregate share capitals of all the roads. The debt certificates
of the New York Central, amounting to $8,892,600, not included in the
above amount, were in the nature of a dividend of the stock of that Com-
pany. The excess of the aggregate liabilities of the companies over the cost,
of their roads is due in a great measure to the debt certificates of the New
York Central Company, which are not included in the cost of its road.
The balance of net earnings remaining after the payment of dividends is
$47,929,771, a sum slightly exceeding the interest on the aggregate debts of
all the companies at the rate of seven per cent. Upon the debts of several
interest has remained unpaid either wholly or in part. With other companies
considerable sums, being the excess of earnings over the current demands
upon them, have been expended in construction.
As all new companies in the State are organized under the provisions of a
General Railroad Law, which applies equally to all companies organized
under special charters, a copy of the same is added hereto. The list of the
companies chartered and organized, and notices of the laws passed in refer-
ence thereto, were obligingly furnished by George R. Perkins, Esq., Deputy
State Engineer for the State of New York.
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RAILROADS IN THE STATE OF NEW YORK.
228
STATEMENT showing the Share Capital, Indebtedness, Cost, Mileage, Receipts for transportation of Passengers, Receipts for transportation of
Freight, Receipts for transportation of Mails, Operating Expenses, Net Earnings, and Dividends paid by the Railroad Companies
of the State of New York, for each year since the opening of the first road:
Capital Account
Cost of
Length
Gross Earnings
Operating Earnings Amount
Year.
Share
Funded
Floating
Total
Road &
of
Passenger
Freight
Mail, etc., Total
Expenses
less
of
Capital.
Debt.
Debt.
Capital.
Equipment.
Road.
Earnings.
Earnings.
Earnings.
Earnings.
&
Repairs.
Expenses.
Dividend.
Year.
1832
$795,303
$
$795,303
$795,303
16.94
$52,059
$
$52
$52,111
$31,959
$20,152
nil.
1832
1833
1,328,725
1,328,725
1,328,725
39.31
94,319
8,708
594
103,621
53,514
50,107
"
1833
1834.
1,680,977
1,680,977
1,680,977
73.77
129,070
13,733
1,921
144,724
80,608
64.116
"
-1834
1935..
2,682,429
2,682,429
2,682,429
99.80
175,305
38,987
5,119
219,411
149,353
70,058
"
1835
1836.
4,840.831
160,000
5,000.831
5,000,831
188.80
381,256
46,185
14,185
441,626
232,340
209,286
160,000 1836
1837
5,939,710
267,500
8,000
6,215,210
6,145,210
259.45
585,927
38,529
29,295
653,751
398,470
255,281
182,772 1837
1838
6,621,710
600,700
113,052
7,335,462
7,200,462
277.95
623,197
43,696
36,328
703,221
387,149
316.072
204,995 1838
1839
7,881,000
1,250,700
131,981
9,263,681
£,075,719
367.36
976,743
60,877
51,238
1,088,858
515,732
573,126
351,000 1839
1840
8,089,500
1,350,700
180,052
9,620,252
9,578,965
394.46
986,891
59,873
78,081
1,124,845
537,901
586,944
355,000 1840
1841
8,151,000
1,450,700
193,609
9,795,309
9,701,218
414.46
1,021,836
107,252
74,778
1,203,866
621,484
582,382
285,000 1841
1842
12,187,250
3,535,000
1,214,175
16,936,425
16,833,624
573.47
1,282,870
156,042
81,777
1,520,689
797,639
723,050
453,000 1842
1843
13,546,535
4,675,000
1,376,955
19,598,490
19,515,454
659.17
1,344,105
163,157
98,890
1,611,152
859,676
751,476
480,911 1843
1844
13,829,999
5,510,000
1,375,835
20,715,834
20,356,863
688.17
1,469,766
276,124
182,982
1,928,872
916,906
1,011,966
540,237 1844
1845
14,201,211
6,010,000
1,202,289
21,413,500
21,269,126
721.92
1,575,241
301,593
237,407
2,114,241
1,111,539
1,002,702
580,225 1845
STATE OF NEW YORK.
1846
15,339,529
6,510,000
1,437,561
23,287,090
22,987,696
756 46
1,728,874
438,357
195,755
2,362,986
1,425,018
937,968
652,632 1846
1847
16,523,900
7,460,000
1,883,553
25,867,453
24.849,432
765.72
2,284,889
715,849
217,694
3,218,432
1,491,686
1,726,746
621,636 1847
1848
23,962,677
7,673,000
2,042,839
33,678,516
33,252,324
855.54
2,553,633
915,313
242,732
3,711,678
2,136,089
1,575,589
1,267,373 1848
1849
33,531,402
12,191,243
2,490,448
48,213,093
50,514,093
1,261.11
3,231,944
2,472,877
281,422
5,986,243
2,668,369
3,317.874
1,505,801 1849
1850
35,741,264
19,651,991
4,642,367
60,035,622
63,631,538
1,452.60
3,749,674
1,518,998
241,514
5,510,186
2,452,413
3,057,773
1,618,902 1850
1851
38,377,470
27,776,590
6,182,429
72,336,489
72,494,812
1,705.60
4,800,431
2,581,098
260,751
7,642,280
3,564,446
4,077,834
1,843,071 1851
1852
46,071,149
36,458,929
5,211,087
87,741,165
88,339,763
2,118.32
5,970,284
4,258,059
628,400
10,856,743
5,323,995
5,532,748
2,204,478 1852
Digitized by
1853
55,710,456
46,532,172
7,978,771
110,221,399
106,329,839
2,311.88
5,572,963
6,352,097
510,120
12,435,180
7,869,989
4,565,191
2,523,710 1853
1854
64,354,913
63,404,997
9,740,896
137,500,806
122.457,325
2,623.94
8,740,029
8,199,149
870,371
17,809,549
10,663,712
7,145,837
2,322,765 1854
1855
67,028,052
73,062,516
5,744,649
145,835,217
129,147,518
2,631.61
10,018,715
9,870,657
701,278
20,590,650
12,102,961
8,487,689
2,422,153 1855
1856
68,640,390
73,895,312
4,815,895
147,351,597
130,092,480
2,631.61
10,044,869
12,471,576
814,632
23,331,077
13,649,565
9,681,512
2,779,862 . 1856
1857
69,352,217
67,764,041
4,567,336
141,683,596
129,284,400
2,642.61
10,316,870
11,860,803
921,146
23,098,819
14,547,910
8,550,909
2,731,983 1857
Google
1858
69,797,559
68,675,052
4,009,962
142,482,573
129,368,489
2,643.86
8,415,055
10,476,833
828,320
19,720,208
12,613,052
7,107,156
2,701,875 1858
1859
70,209,168
68,512,837
5,048,933
143,770,938
131,538,680
2,643.86
8,841,606
9,746,299
817,069
19,404,974
12,048,302
7,356,672
2,619,065
.
1859
28
yrs
776,416,326
604,378,980
71,592,676
1,452,387,982
1,365,453,195
31,819.75
96,968,421
83,197,721
8,423.851
188,589,993
109,251,777
79,338,216
31,408,446
28
yr.
Aver.
27,729,154
21,584,963
2,556,882
51,870,999
48,766,185
1,136.42
3,463,158
2,971,346
300,852
6,735,356
3,901,849
2.833,507
1,121,730
Aver
RAILROADS OF THE STATE IN DETAIL.
ALBANY AND WEST STOCKBRIDGE RAILROAD.
(Financial year ending 30th November, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
John V. L. Pruyn
Albany, N.Y.
Volkert P. Douw
Greenbush, N.Y.
Chester W. Chapin
Springfield, Mass.
William H. Toby
Kinderhook, "
William H.Swift
Boston, "
Gilbert L. Wilson
Albany,
"
Ansel Phelps, Jr
Springfield, "
John H. Reynolds
"
"
Thomas L. Greene
Albany, N.Y.
Eli Perry
"
"
THOMAS OLCOTT, President
Albany, N.Y.
STEPHEN FAIRBANKS, Treasurer
Boston, Mass.
HENRY GRAY, Superintendent
Springfield, "
LENGTH OF RoAD-Albany to State Line, Mass
38.25 miles.
Second track, 38.25, and sidings, 5.75 miles.
The Albany and West Stockbridge Railroad Company was chartered on the
5th and organized on the 20th May, 1836. The construction of the road
was commenced in December, 1840. It was opened to public use as follows:
from Greenbush to Chatham, 23 miles, on the 21st Dec., 1841, and from
Chatham to the State line, 15 miles, on the 12th Sept., 1842. The road was
constructed by the Western Railroad Company of Massachusetts as a part
of its line, and to which it was leased, on the 11th November, 1841, for fifty
years from the 13th of April, 1840, (the period of its charter, and for any
renewal of the same). The two roads have always been operated as one line.
No separate account of earnings or current expenses is kept, although two
organizations are rendered necessary, the line lying in different States.
SHARE CAPITAL-Authorized and paid in, $1,000,000.
The entire share capital of the Company was subscribed, and is held by
the city of Albany, (except a few shares).
FUNDED OR FLOATING DEBT-$2,389,559 : in detail as follows-
City of Albany 6 per cent. bonds
$1,000,000
The bonds of the city of Albany were issued in payment of the stock
taken by it, which was subscribed as follows :-$650,000 on the 30th May,
1840, and $350,000 on the 1st August, 1841. They are payable in the city
of Boston as follows :-$250,000 on the 1st July, 1866; $300,000 on the 1st
July, 1870 $200,000 on the 1st of July, 1871, and $250,000 on the 1st July,
1876. The interest is payable semi-annually, on the 1st Jan. and 1st July,
at the office of the Western Railroad Company in Boston.
By the terms of the lease of the road to the Western Company, the latter
undertook to pay the interest on this class of bonds, and the principal sums
as they respectively fell due; the city of Albany to hold the stock sub-
scribed by it as security for the performance of these agreements. For their
payment, the Western Company provided a sinking fund by the payment
thereto of a sum equal to 10 per cent. of the bonds as they were issued, and by
the further payment thereto, annually, of the sum of $10,000. The first an-
nual payment was made in 1843, and has since been continued. The amount
of this fund on the 30th November, 1859, was $621,013. On the payment of
the bonds the stock becomes the property of the Western Railroad Company.
229
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230
NEW YORK-ALBANY AND SCHENECTADY.
The balance of indebtedness of the Company is for advances made by the
Western Company on account of construction, to the amount of $1,389-559,
to be refunded to the Western Railroad Company on termination of the lease.
The road has a second track for its entire length, commenced about three
years ago, and completed in 1859.-(See Western RR. Co. of Mass.)
COST OF ROAD AND EQUIPMENT-$2,392,984 in detail as follows—
Graduation and masonry
$1,005,910
-
Engine and car houses, machine shops. $42,976
Superstructure, including iron
647,043
Land, land-damages and fences
210,903
Stations, buildings and fixtures
252,006
Engineering and agencies
234,143
ALBANY AND SCHENECTADY RAILROAD.
(Now a part of the New York Central.)
This Company was originally chartered under the title of the Mohawk
and Hudson Railroad Company in 1826, and was the first corporation of the
kind chartered in the State. The construction of the road was commenced
in August, 1830; it was opened to the public on the 24th September, 1831.
It was originally constructed with longitudinal sills, covered with rails,
9-16 by 21 inches. The ascents from Albany and Schenectady repectively
were overcome by inclined planes with inclinations of 1 in 18, worked by
stationary engines; the length of the Albany plane being 32; of the Schenec-
tady, 31 chains. Between the planes the road was first worked with loco-
motive engines and horses. The first engine used was of American manu-
facture, and weighed three tons. An engine imported from England,
weighing 12 tons, could not be used on account of its weight. The planes
were abandoned in 1844. The change of the name of the Company to that
of the Albany and Schenectady was made in 1847. In 1853 it was consoli-
dated, with other companies, into the New York Central, which see.
COST, EARNINGS, EXPENSES, ETC., YEARLY.
Cost of Road,
Mile-
Gross Earnings
Operating Earnings,
Div
Year.
&c.
age.
Pass'r.
Freight.
Mails,&c.
Total.
expenses.
less exp.
8
p.c.
1832.
$639,908
16.09
$51,675
52
$51,727
$27,309
$24,418
nil.
nil.
1833.
666,304
16.09
69,300
3,708
594
73,602
36.652
36,950
"
"
1834. 666,500
16.09
68,210
12,733
921
81,864
50,939
30,934
"
"
1835.
1,000,000
16.86
84,776
26,287
1,519
112,582
66,171
46,412
"
"
1836.
1,075,000
16.86
103,470
28,185
1,889
133,544
78,850
54,694
"
"
1837.
1,012.500
16.86
97,167
14,429
4,774
116,370
83,850
33,520
"
"
1838.
1,100,000
16.86
101,023
19,276
5,296
125,595
84,209
41,386
"
"
1839.
1,100,000
16.86
116,666
25,877
5,875
148,418
84,441
63,977
70,000
7
1840.
1,100,000
1686
105,895
12,035
7,668
125,598
61,439
64,159
70,000
7
1841.
1,100,000
16.86
99,066
11,211
5,621
115,898
61,022
54,876
nil.
nil
1842.
1,100,000
16.86
99,966
11,211
5,621
115,898
61,022
54,876
"
"
1843.
1,053,848
16.86
101,272
12,102
57,291
170,665
58,780
111,885
"
"
1844.
1,317,592
16.86
66,294
10,060
4,228
80,582
34,041
46,521
"
"
1845.
1,460,990
16.91
79,645
14,781
4,068
98,494
37,367
61,127
"
"
1846.
1,472,967
16.91
92,195
18,321
3,341
113,857
41,776
72,081
"
"
1847.
1,521,216
16.91
110,051
46,592
3,244
159,887
60,310
99 577
25,000
21
1848.
1,606,196
16.91
113,742
57,139
5,041
175,922
73,468
102,454
70,000
7
1849.
1,698,284
16.97
115,717
62,550
5,762
184,029
72,829
111,200
70,000
7
1850.
1,711,412
16 97
132,207
70,243
6,134
208,584
91,171
117,413
70,000
7
1851.
1,740,447
16.97
146,649
87,433
5,765
239,847
103,689
136,158
70,000
7
1852.
1,774,574
16.97
171,752
117,860
6,500
296,112
131,664
164,448
81,616
8
1853*
1,810,693
16.97
208,043
261,110
2,479
471,632
166,013
305,619
49,692
4
$26,728,431
369.36
2,334,790
923,143
143,682
3,401,515
1,567,003
1,834,512
576,308
Aver. 1,214,928
1679
106,127
41,961
6,531
154,614
71,227
83,387
26,196
21
# Ten months' operations.
Digitized by Google
NEW YORK-ATTICA AND BUFFALO.
231
ATTICA AND BUFFALO RAILROAD.
(Now a part of the New York Central.)
The Attica and Buffalo Railroad Company was chartered in 1836. The con-
struction of the road was commenced in 1841, and completed in Dec., 1842.
It was the last link constructed in the line from Albany to Buffalo. Its length
was 32 miles. On the 30th of November, 1850, it was consolidated with the
Tonawanda Railroad Company, under the joint title of the Buffalo and
Rochester Railroad Company. Its cost at that time was $906,911 its share
capital $800,000; indebtedness, $42,676. In 1852 the latter Company was
consolidated with the New York Central, which see.
COST, EARNINGS, EXPENSES, ETC., YEARLY.
Cost of
Mile-
Gross earnings
Operating
Net
Div.
Year. Road,&c.
age.
Pass'r.
Freight.
Mails.
Total.
expenses.
Earnings.
$
p.e.
1843-$268,275
31.95
$44,900
$1,902
$2,974
$49,776
$19,149
$30,627
27,092
8
1844. 336,211
31.95
64,340
5,593
3,315
73,248
25,215
48,033
33,865
10
1845. 342,000
31.95
58,976
6,602
4,719
70,297
30,974
39,323
27,092
8
1846. 354,808
31.95
72,405
8,196
5,893
86,494
33,564
52,930
30,496
9
1847. 487,543
31.95
104,010
15,000
4,800
123,810
49,000
74,810
33,990
10
1848. 821,313
31.95
119,446
25,965
4,639
150,050
66,099
63,951
35,000
10
1849. 870,648
31.95
144,519
28,523
5,107
178,149
76,678
101,471
53,585
95
1850.
906,915
31.95
185,745
37,765
6,200
229,710
70,909
158,801
72,170
10
$4,387,713
255.60
794,341
129,546
37,647
961,534
371,588
589,946
313,290
Aver. 548,464
31.95
99,293
16,193
4,706
120,192
46,448
73,742
39,161
9.3
AUBURN AND ROCHESTER RAILROAD.
(Now a part of the New York Central.)
The Auburn and Rochester Railroad Company was chartered in 1836. The
construction of the road was commenced early in 1838, and completed in
August, 1841. The length of its line was 78 miles. In 1850 the Company
was consolidated with the Auburn and Syracuse Railroad Company, under
the joint title of the Rochester and Syracuse Railroad Company. The cost
of the road at that time was $3,000,000; its share capital, $2,196,765; funded
debt, $595,000; floating debt, $30,000. In 1853 the latter Company was
consolidated into the New York Central, which 866.
COST, EARNINGS, EXPENSES, ETC., YEARLY.
Cost of
Miles.
Gross Earnings
Operating Earn'gs,
Div
Year.
Road,
&c.
of
Road.
Passen'r.
Freight.
Mails,etc.
Total.
expenses.
less exp.
8
p.c.
342-$1,686,376
78,00
$167,334
$4,534
$7,681
$179,549
$52,970
$126,579
105,000
8
1843.
1,727,361
78,00
173,066
5,504
11,133
189,703
100,210
89,493
105,000
8
1844.
1,796,342
78 00
215,247
7,808
14,612
237,667
85,660
152,007
105,000
8
1845.
1,832,045
78.00
214,143
12,128
7,788
239,059
96,984
142,075
112,000
8
1846.
1,865,044
78.00
253,073
20,202
16,895
290,170
110,353
179,817
112,000
8
1847.
2,087,797
78.00
334,711
47,471
13,585
395,767
154,614
241,153
112,000
S
1848.
2,644,520
78.00
358,471
83,137
13,113
454,721
188,027
266,694
112,000
8
1249.
2,968,837
78.00
408,425
111,579
7,859
527,863
201,842
326,021
188,536
9
1850.
3,000,000
78.00
386,616
111,998
17,196
515,810
163,465
352,345
260,852
12
$19,608,322
702.00
2,511,086
404,361
109,862
3,025,309
1,154,125
1,871,184
1,212,388
Aver. 2,178,702
78.00
279,009
44,929
12,207
336,145
128,236
207,909
134,709
81
AUBURN AND SYRACUSE RAILROAD.
(Now a part of the New York Central.)
The Auburn and Syracuse Railroad Company was chartered in 1834. Its
Digitized by Google
232
NEW YORK-ALBANY AND SUSQUEHANNA.
6
road was the fourth link in the line from Albany to Buffalo. Its construc-
tion was commenced in 1836, and 22 miles completed on the 1st July, 1838,
over which the trains were first drawn by horses. The whole line, 26 miles,
was opened in 1839. It was originally laid with a flat rail upon longitudinal
sills, which, in 1848, gave place to a heavy rail laid upon cross ties. In 1850
it was consolidated with the Auburn and Rochester Railroad, under the
joint title of the Rochester and Syracuse Railroad. The cost of the road
and equipment at the time of the consolidation was $1,217,427 its share
capital, $624,000; funded debt, $375,000; floating debt, $30,000. In 1853,
the Rochester and Syracuse Company was consolidated with the New York
Central, which see.
COST, EARNINGS, EXPENSES, ETC., YEARLY.
Cost
Mile-
Gross Earnings
Operating
Net
-Div.-
Year.
of Road.
age. Pass'gers. Freight. Mails, etc. Total.
Expenses.
Earnings.
8
P c.
1843
$761,058
26
$75,250
$
$11,041
$86,291
$38,531
$47,760
$31,547
8
1844
746,605
26
80,553
16,184
96,737
44,193
52,544
31,547
8
1845
768,273
26
79,500
15,577
4,725
99,802
44,325
55,477
32,000
8
1846
784,223
26
98,052
16,886
4,100
119,038
46,164
72,874
32,000
8
1847
888,766
26
123,848
28,794
4.467
157,109
61,209
95,900
32,000
8
1848
1,125.886
26
132,667
45,193
4,325
182,185
69,428
112,757
32,000
8
1849
1,197,437
26
150,163
37,393
6,201
193,757
103,045
90,712
45,000
71
1850
1,217,427
26
147,233
44,111
4,665
196,009
100,225
95,784
48,000
8
8 yrs. $7,489,665
208
887,266
187,954
55,708
1,130,928
507,120
623,808
284,094
Aver.
936,208
26
110,908
23,494
6,963
141,366
63,390
77,976
35,511
8
ALBANY AND SUSQUEHANNA RAILROAD.
(Financial year ending 30th September, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
Ezra P. Prentice
Albany, N.Y.
Levi Dimmick
Binghamton, N.Y.
Robert H. Pruyn
"
"
Arnold Watson
Unadilla,
"
Cornelius Vosburg
"
"
Eliakim R. Ford
Oneonta,
"
Charles Courter
Cobbleskill,
"
Lewis Northrup
Colesville, "
Joseph H. Ramsey
"
"
John Cook
Worcester,
"
Edward Tompkins
Binghamton,
"
Jared Goodyear
Milford,
"
RICHARD FRANCHOT, President
Morris, N.Y.
H. H. Hickcox, Treasurer and Secretary
Albany, "
PRINCIPAL OFFICE
No. 73 STATE STREET, Albany, Albany Co., N.Y.
LENGTH OF ROAD-Albany to Binghamton
140 miles.
The Albany and Susquehanna Railroad Company was formed under the Gen-
eral Railroad Law of New York and filed Articles of Association on the
19th April, 1851. The work of construction was commenced in July, 1853,
but discontinued in August, 1854. In September, 1858, it was again re-
sumed, and is now in progress. No portion of the line has been completed.
SHARE CAPITAL-Authorized, $4,000,000, in 40,000 $100 shares.
Subscribed, $1,807,800. Paid in, $404,950.
FUNDED DEBT
None, FLOATING DEBT
$33,135.
CosT OF ROAD AND EQUIPMENT-$406,952 in detail as follows—
1857.
1858.
1859.
Graduation and masonry
$62,135
$62,135
$158,667
Land, land damages and fences
79,278
80,976
114.308
Engineering, agencies, etc
78,249
84,344
133,976
Digitized by
Google
NEW YORK-AVON, GENESEO AND MOUNT MORRIS.
233
ANNUAL STATEMENT OF AMOUNTS EXPENDED UPON THE ROAD.
1852
$24,016
1855
$213,125
1858
$227,356
1853
91,324
1856
215,045
1859
406,952
1854
213,125
1857
219,662
1860
AVON, GENESEO AND MOUNT MORRIS RAILROAD.
(Financial year ending 30th September, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1860.
William Kidd
Rochester, N.Y.
J. S. Wadsworth
Geneseo, N.Y.
M. F. Reynolds
"
"
R. P. Wisner
Mount Morris, "
A. Bronson
"
"
Geo. S. Whitney
"
"
David Bangs
Chili,
"
H. P. Mills
"
"
H. P. North
Geneseo,
"
Geo. W. Phelps.
"
"
E. R. Hammett
"
"
Charles H. Carroll
Groveland, .6
JOHN R. MURRAY, President
Mount Morris, N.Y.
E. R. HAMMETT, Treasurer
Genezeo, "
PRINCIPAL OFFICE
GENESEO, Livingston Co., N.Y.
LENGTH OF ROAD-Avon to Mount Morris
15.53 miles.
Second track, sidings, etc., 0.54 mile.
ROLLING STOCK-None. Owned by Buffalo, New York and Erie Company.
The Avon, Geneseo and Mount Morris Railroad Company is successor to the
Genesee Valley Railroad Company, and was organized under the General
Railroad Law of the State on the 17th February, 1860. The original Com-
pany was organized on the 2d May, 1857, and its road opened in June,
1859, since which time it has been operated, under a lease, by the Buffalo,
New York and Erie Company. On the 10th February, 1860, the road was
sold under foreclosure, and was bought by the bondholders, who have or-
ganized themselves into this company. The following statements will show
the condition of the old Company on the 30th September, 1859.
SHARE CAPITAL-Authorized, $300,000, in 6,000 $50 shares.
Subscribed, $102,380. Paid in, $75,689.
FUNDED DEBT-$165,000: in detail as follows—
1st Mortgage, 7 per cent., coupon bonds
$165,000
-dated 1st July, 1857, and payable, principal 1st July, 1877, and coupons
semi-annually, 1st Jan. and 1st July, in Rochester.
FLOATING DEBT-$42,500.
COST OF ROAD, ETC.-$329,225 in detail as follows—
Graduation and masonry
$216,652
Engine and car houses
$200
Superstructure, including iron
80,955
Land, land damages and fences
13,088
Stations, buildings and fixtures
1,000
Engineering and agencies
17,330
The earnings of the road from the date of its completion to the 30th
September, 1859, were $5,826. The current expense is not given by the
Company.
The Capital Stock of the new Company is $175,000, being the amount of
the mortgage debt of the old Company.
30
Digitized by
Google
234
NEW YORK-ALBANY, VERMONT AND CANADA.
ALBANY NORTHERN RAILROAD
(See Albany, Vermont and Canada Railroad).
ALBANY AND VERMONT RAILROAD.
The Albany and Vermont Railroad Company was organized under the general
law, and filed articles of association on the 6th October, 1859. It is suc-
cessor to the Albany, Vermont and Canada Railroad Company, which 866.
ALBANY, VERMONT AND CANADA RAILROAD.
(Financial year ending 30th September, 1858.)
BOARD OF DIRECTORS AND OFFICERS, 1858-59.
Eliphalet Wickes
Albany, N.Y.
M. E. Viele
Albany, N.Y.
Lansing Pruyn
"
"
V. Ten Eyck
"
"
Erastus Corning
"
"
J. A. Wilson
"
"
C. W. Bender
"
"
C. B. Lansing
"
"
J. H. Reynolds
"
"
C. S. Williams
"
"
WILLIAM WHITE, President and Superintendent
Albany, NY.
PHILIP FORD, Treasurer
"
"
PRINCIPAL OFFICE
ALBANY, Albany Co., N.Y.
LENGTH OF ROAD-Albany to Eagle Bridge
32.95 miles.
Second track, including sidings, etc., 3.28 miles.
ROLLING STocK-Locomotive engines
5
Cars :-Passenger, 12; baggage, mail and express, 5; freight, 48
65
The Albany, Vermont and Canada Railroad Company was successor to the
Albany Northern Railroad Company. The latter was organized under the
general law, and filed articles of association on the 20th February, 1851.
The work of construction was soon afterwards commenced, and the road
was completed and brought into use from Albany to Cohoes, 9 miles in
April, to Waterford, 11 miles in May, and the entire line to Eagle Bridge
on the 1st July, 1853. Shortly after the affairs of this Company became 80
embarrassed as to result in its property passing into the hands of trustees.
In 1855 the Troy and Rutland Railroad also passed into the hands of
the same trustees. and from May to September was operated as a part
of this road. In 1856 the whole property of the Company was sold under
foreclosure on account of the second mortgage bondholders, and on the 15th
October of the same year the Company was dissolved, giving place to a new
Company under the title of the Albany, Vermont and Canada Railroad
Company, which filed articles of association on the 7th November following.
Default was subsequently made by the new Company in the payment of in-
terest on the 1st mortgage bonds, and again foreclosure followed, and on the
14th September, 1859, the property was again sold, this time for the sum of
$25,000, subject to the 1st mortgage, and some small unliquidated claims.
The purchase was made on behalf of a portion of the bondholders, who
formed themselves in a new Company, and filed articles of association on the
6th October, 1859, under the title of the Albany and Vermont Railroad
Company. No Report was published for 1858-9.
SHARE CAPITAL-Authorized, $600,000, in 6,000 $100 shares.
Paid in,
$439,005, on 4,450
"
Digitized by Google
NEW YORK-ATLANTIC AND GREAT WESTERN.
235
FUNDED DEBT (before first sale)-$1,509,399 classified as follows—
1st Mortgage, 7 per cont., coupon bonds
$600,000
-dated 1st March, 1852, and payable, principal 1st March, 1857, and
coupons, semi-annually, 1st March and 1st Sept., in New York City.
2d Mortgage, 7 per cent., coupon bonds
$500,000
-dated 1st June, 1853, and payable, principal 1st June, 1863, and coupons,
semi-annually, 1st June and 1st Deçember, in New York City.
3d Mortgage, 7 per cent., coupon bonds
$45,060
-dated 1st November, 1853, and payable, principal in 3, 5 and 8 years after
date, and coupons, semi-annually, 1st May and 1st November, in New York
City. Total provision, $250,000.
4th Mortgage (Albany Loan and Adjustment) bonds
$364,339
-issued in the year 1854, and payable in 10 years, with interest semi-annually.
These bonds originally amounted to $500,000, of which $300,000 covered
the Albany City Loan, and $200,000 the adjustment of the interest accounts,
etc. They were to bear 6 per cent. for the first five years, and 7 per cent.
thereafter.
INCOME ACCOUNT FOR THE YEAR ENDING 30TH SEPT., 1858.
Receipts
Disbursements-
Passenger earnings
$54,382
Maintenance of road
$19,325
Freight
"
24,694
Repairs of rolling stock
9,853
U.S. mails
2,841
Operating expenses
43,727
Express earnings
1,800
Interest
3,167
Miscellaneous
403
Unappropriated income
8,048
Total
$84,120
Total
$84,120
CosT, EARNINGS, EXPENSES, ETC., YEARLY.
Cost of
Miles.
Gross Earnings
Operating
Earn'gs,
-Dir-
Year.
Road, &c.
of Road.
Passen'r.
Freight.
Mails,etc.
Total.
expenses.
less exp.
$
p.c.
1855
$2,010,634
32.95*
$68,194
$44,243
$5,279
$117,716
$107,812
$9,904
nil.
nil.
1856
2,020,667
32.95
73,339
34,653
6,159
114,152
112,406
1,746
"
"
1857
2,020,667
32.95
56,529
33.174
3,744
93,447
75,384
18,063
"
"
1858
2,020,667
32.95
54,381
24,694
5,045
84,119
72,904
11,215
"
"
4 yrs.
8,072,635
131.80
252,443
136,764
20,227
409,434
368,506
40,928
"
"
Aver.
2,018,159
32.95
63,111
34,190
5,057
102,358
92,126
10,232
"
"
ATLANTIC AND GREAT WESTERN RAILROAD.
(Financial year ending 30th September, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
William Hall
Jamestown, N.Y.
Daniel William
Ashville, N.Y.
Warner D. Shaw
"
"
George W. Weed
Binghamton, "
Robert Newland
"
"
Christopher L. Ward
Towanda, Pa.
Bradford Burlin
"
"
James M. Ward
"
"
S mmer Allen
Poland,
"
William Reynolds
Meadville,
"
igusts.8 F. Allen
Jamestown,
"
Henry Doolittle
Philadelphia,
"
HENRY BAKER, President
Jamestown, N.Y.
LENGTH OF ROUTE-Jamestown to Pennsylvania State Line
10 miles.
Embraces the business of the Troy and Rutland from May.
Digitized by Google
236
NEW YORK-BLACK RIVER AND UTICA.
The Atlantic and Great Western Railroad Company of New York was orga-
nized under the general law and filed articles of association on the 9th De-
cember, 1858. Its road is designed to form a part of the Atlantic and Great
Western of Pennsylvania and Ohio. At the time of writing this sketch its
construction had not been commenced. Its authorized Share Capital is
$150,000; subscribed, $10,200; paid in, $1,020.
ATTICA AND ALLEGHANY VALLEY RAILROAD.
LENGTH OF RoAD-Attica to Olean
74 miles
The Attica and Alleghany Valley Railroad Company was organized under
the general law, and filed articles of association on the 4th November, 1852.
During 1853-4 about 25 miles between Attica and Arcade were graded at
a cost of $350,000. On the 5th of February, 1856, the road was sold on the
foreclosure of a mortgage, created as security for bonds issued to the amount
of $400,000. Since the sale no steps have been taken to complete the road.
BLACK RIVER AND UTICA RAILROAD.
(Financial year ending 30th September, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
Theodore S. Faxton
Utica, N.Y.
Edmund A. Graham
Utica, N.Y.
John Dagswell
"
"
Benjamin F. Ray
"
"
Chauncey Palmer
"
"
Thomas Foster
"
"
Samuel Farwell
"
"
Russell Wheeler
"
s
Spencer Kellogg
"
"
William Higby
Boonville, "
Martin Hart
"
"
Josiah W. Baker
New York, "
JOHN THORN, President
Utica, N.Y.
MARTIN HART, Treasurer and Secretary
"
"
WILLIAM HIGBY, Superintendent
Boonville, "
PRINCIPAL OFFICE
UTICA, Oneida Co., N.Y.
LENGTH OF ROAD-(Projected), Utica to Clayton
108.50 miles.
(Completed), Utica to Boonville
34.94 "
Trenton Falls Branch (completed)
2.59
"
ROLLING STOCK-Locomotive engines
4
Cars (8-wheel) :-Passenger, 6; baggage, mail and express, 2; freight, 37 45
The Black River and Utica Railroad Company was organized under the gene-
ral law and filed articles of association on the 31st January, 1853. The first
section of the road from Utica to Trenton, 16 miles, was completed and
opened for business on the 1st January, 1855, and the section from Trenton
to Boonville, 19 miles, on the 15th December of the same year. The Tren-
ton Falls Branch was completed in 1856. Default in the payment of inter-
est having been made in 1858, proceedings for foreclosure were commenced,
and the road is advertised to be sold on the 31st March, 1860.
SHARE CAPITAL-Authorized, $1,500,000, in 15,000 $100 shares.
Paid in, - $804,648, on 11,307
"
[The City of Utica subscribed for 2,500 shares, for which City Bonds for
$250,000, at 6 per cent., were issued.]
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NEW YORK-BLOSSBURG AND CORNING.
237
FUNDED DEBT-$700,000 described as follows-
1st Mortgage, 7 per cent. coupon bonds
$700,000
-dated 1st July, 1854, and payable, principal 1st July, 1869, and coupons
semi-annually 1st January and 1st July, in the city of New York.
FLOATING DEBT-$8,158.
COST OF ROAD AND EQUIPMENT-$1,237,553 in detail as follows—
Graduation and masonry
$537,402
Land, land-damages and fences
$115,748
Bridges
58,344
Locomotives and snow ploughs
33,477
Superstructure
336,204
Passenger and baggage cars
14,603
Stations, buildings and fixtures
18,639
Freight and other cars
33,605
Engine and car houses, shops, etc.
4,572
Engineering and agencies
85,198
INCOME ACCOUNT FOR THE YEAR ENDING 30TH SEPT., 1859.
Receipts-
Disbursements-
Passenger earnings
$35,653
Maintenance of road
87,104
Freight
"
24,300
Repairs of rolling stock
6,889
Mail
.6
350
Operating expenses
15,996
Express
"
307
Interest
16,401
Extra baggage
212
Floating debt paid
4,053
Surplus income
10,379
Total
$60,822
Total
$60,822
COST, EARNINGS, EXPENSES, ETC., YEARLY.
Cost of
Mile-
Gross Earnings
Operating
Less
Div
Year.
Road, etc.
age.
Pass'er.
Freight.
Mails, etc.
Total.
expenses.
Expenses.
$
p.c.
1855
$974,322
16.00
$18,572
$7,388
$301
$26,261
$12,401
$13,860
nil.
nil.
1856
1,196,903
34.94
40,497
20,062
2,205
62,764
34,807
27,957
"
"
1857
1,221,030
37.53
42,193
23,304
3,263
68,760
39,268
29,492
"
"
1858
1,234,514
37.53
34,207
23,529
2,788
60,524
28,092
32,432
"
"
1859
1,237,553
37.53
35,874
24,885
2,182
62,841
29,980
32,961
"
44
5 yrs
5,864,322
163.53
171,343
99,168
10,739
281,250
144,548
136,702
"
64
Aver
1,172,864
32.70
34,268
19,834
2,147
56,250
28,909
27,340
"
"
BLOSSBURG AND CORNING RAILROAD.
(Financial year ending 30th September, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
Duncan S. Magee
Corning, N.Y.
Perry S. Donabe
Bath, N.Y.
Joseph Fellows
Bath, "
William H. Bull
"
"
F. Davis, Jr
Watkins, "
D. C. Howell
"
"
David Rumsey
Bath, "
H. W. Bostwick
Corning, N.Y.
Thomas J. Magee
Hornellsville, "
R. B. Van Valkenburgh
Bath, "
James H. Gulick
Blossburg, Pa.
S. D. Hunter
"
"
JOHN MAGEE, President
Bath, N.Y.
DUNCAN S. MAGEE, Treasurer and Secretary
Corning,
"
L. H. SHATTUCK, Superintendent
"
"
PRINCIPAL OFFICE
CORNING, Steuben Co., N.Y.
ROLLING STOCK
None.
The Blossburg and Corning Railroad Company was organized under the gen-
eral law, and filed articles of association on the 19th May, 1854. The road
of this Company was originally built by the Tioga Coal, Iron Mining, and
Manufacturing Company, which obtained its charter previous to 1840, and
completed the road in 1841 with a light rail. In 1851, the Tioga Coal, Iron
Mining, and Manufacturing Company consolidated with the Tioga Railroad
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238
NEW YORK-BROOKLYN CITY PASSENGER.
Company, under the title of the Corning and Blossburg Railroad Company,
which in the summer of 1852 re-laid the road with heavy iron. The road
was purchased by the present Company 1st June, 1854, for $250,000, subject
to liens upon it, amounting to $245,000, and a lease of 10 years from the
16th October, 1852, from the Corning and Blossburg Railroad Company to
the Tioga Railroad Company of Pennsylvania, by which it is now operated.
Two-thirds of the gross earnings are paid to this Company as rent.-(See
Tioga Railroad Company, Pennsylvania.)
SHARE CAPITAL-Authorized, $250,000, in 2,500 $100 shares.
Paid in, - $250,000, in "
"
FUNDED DEBT-$220,000 classified as follows—
1st Mortgage, 51 per cent. bond to State
$70,000
-dated 1844, and payable, principal 1865, and interest semi-annually, 1st
Jan. and 1st July, in the city of New York. Mortgage to the State of New
York for a loan of $70,000 in Tioga Coal, Iron Mining, and Iron Manufac-
turing Company State Stock to the Old Corning and Blossburg Company,
and which was assumed by the present Company on its purchasing the road.
2d Mortgage, 7 per cent. bonds
$150,000
-dated 1st May, 1851, and payable, principal 1st November, 1871, and
interest semi-annually, 1st May and 1st Nov., in the city of New York.
These were issued by the Corning and Blossburg Company, and were as-
sumed by the present Company.
FLOATING DEBT-None.
COST OF ROAD, KTc.-$496,661 : in detail as follows-
Gross amount paid for road
$495,000
Engine and car houses, machine shops
I
Land, land damages and fences
$941
375
Engineering and agencies
345
INCOME ACCOUNT FOR THE YEAR ENDING 30TH SEPT., 1859.
Receipts-
Disbursements
Passenger earnings
$3,440
Interest on bonds
$14,350
Freight
"
23,052
Dividend 5 per cent
12,500
Other sources
366
Surplus
8
Total
$26,858
Total
$26,858
COST, NET EARNINGS, INTEREST, ETC., YEARLY.
Cost of Road
Mile-
Net Earnings
Div.
Year.
& Equipm't.
age.
Pass'ger.
Freight. Mails, etc.
Total.
Interest.
s
p.c.
1854
$495,000
14.81
$2,109
$13,817
$150
$16,076
$7,175
$6,250
21
1855
496,038
14.81
4,844
33,135
314
38,293
14,350
12,500
5
1856
496,598
14.81
4,856
31,286
418
36,560
14,350
12,500
5
1857
496,661
1481
4,421
37,346
475
42,242
14,350
12,500
5
1858
496.661
14.81
2,677
20,511
366
23,554
14,350
12,500
5
1859
496,661
14.81
3,440
23,052
366
26,858
14,350
12,500
5
51 years.
2,977,619
88.86
22,347
159,147
2,089
183,583
78,925
68,750
Average. 496,269
14-81
4,063
28,936
379
33,378
14,350
12,500
5
BROOKLYN CITY PASSENGER RAILROADs.
(See Broadway Railroad, Brooklyn Central Railroad, Brooklyn City Railroad, and
Grand Street and Maspeth Avenue Railroad.)
Half-year's earnings.
Digitized by
Google
NEW YORK-BROADWAY (BROOKLYN).
239
BROADWAY (BROOKLYN) RAILROAD.
(Financial year ending 30th September, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60
John A. Cross
Brooklyn, N.Y.
Alfred M. Wood
Brooklyn, N.Y.
Seymour L. Husted
"
3
James A. Van Brunt
"
"
James M. Waterbury
"
"
Jesse Carothers
"
"
David M. Talmage
"
"
William Irving Steele
"
"
John M. Furman
"
"
Williamson Rapalje East New York,
"
Livingston K. McKee
"
"
Augustus Irvins
"
"
THOMAS G. TALMAGE, President
Brooklyn, N.Y.
GEORGE FIELD, Treasurer
"
"
AUGUSTUS IRVINS, Superintendent
"
"
PRINCIPAL OFFICE No. 12 South 7th street, BROOKLYN, (E.D.,) Kings Co., N.Y
LENGTH OF Road-South 7th street Ferry to East New York
4.50 miles.
Second Track, 4.50 miles ; sidings, etc., 0.13 miles.
ROLLING STOCK-Omnibus cars for 16 passengers
19
The Broadway Railroad Company was organized under the general law
and filed articles of association 20th August, 1858. An act had already
been passed (Laws of 1858, chap. 303) authorizing the laying of a track in
Broadway, and through certain other streets in the city of Brooklyn, and
New Lots in Kings county. The road was constructed in 1858-9. The
line connects at East New York with the Brooklyn Central, (late Brooklyn
and Jamaica) Railroad.
SHARE CAPITAL-Authorized, $200,000, in 2,000 $100 shares.
Paid
in, - 199,000 on 1,990
"
REAL ESTATE MORTGAGE
$14,000.
I
FLOATING DEBT
$559.
Cost OF ROAD AND EQUIPMENT-$213,069 in detail as follows—
Superstructure, including iron
$120,293
Horses, harness, stages. sleighs, etc
$48,158
Stables, car houses, machine shops, etc.
31,731
Engineering and agencies
2,775
Passenger cars
10,100
INCOME ACCOUNT FOR THE YEAR ENDING 30 SEPTEMBER, 1859.
Receipts—
Disbursements-
Passenger earnings
$29,593
Repairs of roadway
$620
Other resources
211
"
cars, etc
109
Operating expenses
22,551
Surplus income
6,524
Total
$29,804
Total
$29,804
Operations of the Road.
Miles run by cars
275,897
Passengers carried
591,865
GENERAL LEDGER BALANCE SHEET, 1ST OcT., 1859.
Dr.
Cr.
Cost of road
$164,811
Share capital
$199,000
"
equipment
48,258
Real estate mortgage
14,000
Profit and loss
17,014
Floating debt
559
Surplus income
6,524
Total
$320,083
Total
$$320,083
Digitized by Google
240
NEW YORK-BROOKLYN CITY.
BROOKLYN CENTRAL RAILROAD.
(Financial year ending 30th Sept., 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
Jacob Frost
Brooklyn, N.Y.
George Remsen
Brooklyn, N.Y.
Ira Smith
"
"
F.S. Littlejohn
"
"
R. H. Thompson
"
"
Daniel Brooks
"
"
Charles Kelsey
"
"
Wm. B. Hunter
"
"
E. B. Litchfield
"
"
E. D. Litchfield
"
"
E. K. Scranton
"
"
(Vacancy.)
E. B. LITCHFIELD, President
Brooklyn, N.Y.
E. K. SCRANTON, Treasurer
"
"
WM. B. LITCHFIELD, Superintendent
"
"
PRINCIPAL OFFICE
No. 29 Atlantic street, BROOKLYN, King's Co., N.Y.
SHARE CAPITAL-Authorized, $500,000, in 5,000 $100 shares.
Paid in, - 200,000.
The Brooklyn Central Railroad Company was organized under the general
railroad law, and filed articles of association on the 31st August, 1859. The
main route intended to be occupied by this Company is the Brooklyn and
Jamaica Railroad, to be acquired by a consolidation of the two companies,
and for which agreements have been made. In addition, the Company pro-
poses to construct a railroad through Fifth avenue to Greenwood and Flat-
bush; through Lexington, Lafayette and Gates avenues to the Broadway
Railroad; and through Furman street to Wall street and Fulton Ferries. The
only work yet executed by the Brooklyn Central Railroad is a railroad in At-
lantic street over the tunnel, and extending to the Atlantic Ferry. The Brook-
lyn and Jamaica Railroad is now used both by the Long Island and Brooklyn
Central. Upon the consummation of the agreement entered into, and the
completion of the improvements at Hunter's Point making by the Long
Island Railroad, the Brooklyn and Jamaica line will be used exclusively as a
city or horse railroad.-(See Long Island, and Brooklyn and Jamaica Railroads.)
BROOKLYN CITY RAILROAD.
(Financial year ending 31st July, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
Amos P. Stanton,
John Kellum,
Fisher Howe,
Seymour L. Husted,
Thomas Brooks,
Purcell Cook,
William H. Carey,
Alexander Studwell,
William Hunter, Jr.
George S. Howland,
Henry R. Pierson,
Henry A Kent,
CHARLES C. BETTS, President pro tempore
Brooklyn, N.Y.
PURCELL Cook, Treasurer
"
"
MONTGOMERY QUEEN, Superintendent
"
"
PRINCIPAL OFFICE
No. 12 Fulton street, BROOKLYN, King's Co., N.Y.
LENGTH OF ROAD-(As projected 30.21 miles) completed
20.15 miles.
Second Track, including turnouts, etc., 20.75 miles.
ROLLING STOCK-Passenger (4-wheel) cars, seating 20 persons
100
Omnibus cars.
17
The Brooklyn City Railroad Company was organized under the general
law, and filed articles of association on the 17th December, 1853. Con-
Digitized by Google
NEW YORK-BROOKLYN AND JAMAICA.
241
struction was commenced on the 10th day of April, 1854, and the several
portions of the road were opened for public use, as follows:
Fulton Avenue Route.
Flushing Avenue Route.
Miles.
Miles.
July, 1854-Fulton Ferry to City Hall
0.74
July, 1854-Kent Av. to Throop Av
0.83
Aug., " -City Hall to Washington Av 1.57
Aug., 1855-Throop Av. to Broadway.
0.14
Sept, " -Washing'n Av. to Brooklyn Av 1.12
Greenwood Route.
Mar., 1857-Brooklyn Av. to E. New York 2.17
Aug., 1854-City Hall to Gowanus Creek. 1.56
Myrile Avenue Route.
Nov.,
"
-Gowanus Creek to Greenwood 1.88
July, 1854-City Hall to Nostrand Av
2.04
Third Arenue Route.
Nov., " -Nostrand Av to Broadway
0.87
July, 1855-Greenwood to City Line
1.17
Williamsburg and Greenpoint Route.
July, 1856-City Line to Yellow Hook Lane-0.56
July, 1854-Fulton street to Kent Av
1.74
Hamilton Avenue Route.
Sept., " -Kent Av. to N. 13th street
2.08
May, 1855-Hamilton Ferry to Court street-0.93
Aug., 1855-N. 13th street to Kent street 049
Dec.,
"
-Kent street to Freeman street 0.26
SHARE CAPITAL-$1,000,000, in 10,000 $100 shares, paid in full.
COST OF ROAD AND EQUIPMENT-$1,054,107; in detail, as follows:
Bridges
$3,107
Passenger cars
$90,120
Superstructure, including iron
581,025
Horses, mules, harness, etc
138.412
Stables, car-houses, machine-shops, etc. 174,973
Stages, sleighs & miscellaneous articles
58,901
Land, land damages, etc
80
Engineering and agencies
5,321
INCOME ACCOUNT FOR THE YEAR ENDING 31sT JULY., 1859.
Receipts-
Disbursements-
Passenger earnings
$463,070
Operating expenses
$346,037
Other sources
8,372
New omnibus cars
8,867
Surplus from 1st August, 1858
38,346
Dividends
80,000
Surplus 1st August, 1859
88,203
Total
$509,789
Total
$509,788
Operations of the Road.
Miles run by cars
2,496,968
I Passengers carried
9,261,393
GENERAL LEDGER BALANCE SHEET, 1ST AUGUST, 1859.
Dr.
Cr.
Construction
$589,533
Share capital
$1,000,000
Equipment
282,433
Surplus fund
88,203
Real estate
182,141
Cash, etc
34,096
Total
$1,088,203
Total
$1,088,203
COST, EARNINGS, EXPENSES, ETC., YEARLY.
Cost.
Mile-
Gross Earnings
Operating
Net
-Div.-
Year.
of Road.
age.
Pass'gers.
Freight.
Mails,
etc.
Total.
Expenses. Earnings.
$
p.o.
1854".
569,182
13.67
84,198
nil.
4,209
88,407
60,871
27,536
nil.
nil.
1855
844,344
17.16
316,134
5,983
322,117
281,350
40,767
35,000
4
1856
965,082
18.61
327,627
6,232
333,861
252,465
81,396
72,396
8
1857
1,026,709
20.15
378,791
9,819
388,610
287,832
100,778
77,434
8
1858
1,038,840
20.15
385,292
9,734
395,026
288,771
106,255
80,000
8
1859
1,054,107
20.15
463,070
8,372
471,442
346,037
125,405
80,000
8
6 yrs.
5,498,264
109.89
1,955,114
44,349
1,999,463
1,517,326
482,137
344,830
Aver.
916,377
18.31
372,403
8,447
380,850
289,014
91,835
65,682
6.9
BROOKLYN AND JAMAICA RAILROAD.
E. B. LITCHFIELD, President
Brooklyn, N.Y.
The Brooklyn and Jamaica Railroad Company was chartered in 1832, and
# Three months' operations.
31
Digitized by
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242
NEW YORK-BUFFALO AND ALLEGHANY VALLEY.
the road opened in 1836. At the same time a lease of the road was made,
in perpetuity, to the Long Island Railroad Company at an annual rental of
$33,300. Some changes in the amount of rent paid were subsequently made
in favor of the Long Island Company, but not of a character affecting the
covenant in the lease. For several years past the full amount of the rent has
been paid. It is now proposed to convert this road into a horse or city
railroad, by a consolidation of the same with the Brooklyn Central-the
Long Island Railroad changing its terminus to Hunter's Point. On the
consummation of the agreements entered into to this effect, the Long Island
Company is to be relieved of the lease, and the road used exclusively as a
city passenger road.
SHARE CAPITAL-Authorized, $300,000, in 6,000 $50 shares.
Paid in, - $284,850, on "
"
FUNDED DEBT-$85,000: described as follows—
First Mortgage 7 per cent. bonds, to the amount of $85,000, payable 1st
June, 1870; interest payable 1st June and 1st December. The Company
holds as assets bonds of the Long Island Railroad, to the amount of $71,000.
The dividend paid the past year was 9 per cent., amounting to $25,636.-
(See Brooklyn Central and Long Island Railroad.)
BUFFALO AND ALLEGHANY VALLEY RAILROAD.
(Financial year ending 30th Sept., 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
William Wallis
Buffalo, N.Y.
Aaron Riley
Aurora, N.Y.
Robert Person
Aurora, "
William C. Russell
South Wales,
"
Jubey Allen
"
"
Philip D. Riley
Holland, "
George H. Lapham
"
"
Nathan Mosey, Jr
"
"
Henry Z. Person
"
"
Bela H. Colegrove
Sardinia, "
James M. Paine
"
"
Cephas I. Parker
China, "
PERRY G. PARKER, President
Buffalo, N.Y.
AARON RILEY, Treasurer and Secretary
Aurora, "
PRINCIPAL OFFICE
EAST AURORA, Eric Co., N.Y.
LENGTH OF ROAD-Buffalo to China
30 miles.
The Buffalo and Alleghany Valley Railroad Company was organized under
the general law, and filed articles of association 30th May, 1853. The
work of construction was commenced in the following winter, but on the
14th January, 1854, was suspended, and has not since been resumed. In
April, 1858, an act was passed, extending the time for completing the road,
and authorizing the Company to sell and convey all its property and effects
to the Buffalo and Pittsburg Railroad Company. Share capital-author-
ized, $300,000 ; subscribed, $135,000 paid in, $16,000. Debt, unsettled.
Expended on graduation, $16,300, and for engineering and agencies, about
$5,000. Land and land damages, unsettled.
BUFFALO AND BLACK ROCK RAILROAD.
This was a short railroad of three miles between Buffalo and Black Rock,
which was operated by horse power. It was built in 1834 at a cost of
$21,650, and abandoned on the completion of the Buffalo and Niagara Falls
Railroad.
Digitized by Google
NEW YORK-BUFFALO AND CONHOCTON VALLEY.
243
BUFFALO, BRADFORD AND PITTSBURG RAILROAD.
(Financial year ending 30th September, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
Orlando Allen, (V. Pres,)
Buffalo, N.Y.
Samuel L. Casey
Bradford, Pa.
L. K. Plimpton
"
"
Sylvanus Holmes
"
"
Frank Williams
"
"
A. W. Newell
"
"
William Wilkeson
"
"
A. K. Johnson
"
"
E. C. Sprague
"
"
C. D. Webster
"
"
John R. Lee
"
"
Miles Joy
Lafayette, "
DANIEL KINGSBURY, President, and JOHN R. LEE, Treasurer
Buffalo, N.Y.
FRANK WILLIAMS, Engineer
"
"
PRINCIPAL OFFICE
BUFFALO, Erie Co., N.Y.
LENGTH OF ROUTE-Buffalo, N.Y., to Pittsburg, Pa
100 miles.
The Buffalo, Bradford and Pittsburg Railroad Company is a consolidation of
the Buffalo and Pittsburg Company of New York, and the Buffalo and
Bradford Company of Pennsylvania, and filed articles of association under
the general law on the 22d March, 1859. The Buffalo and Pittsburg Com-
pany filed articles on the 13th October, 1852, and commenced construction
in November, 1853. The section first to be constructed is that between the
coal fields in McKean county, Pennsylvania, and the New York and Erie
Railroad, about 30 miles in length, eight of which are in the State of New
York. Of this section about 20 miles are prepared for the superstructure.
It is upon this section the funded debt described is to be issued.
SHARE CAPITAL-Authorized, $950,000, in 95,000 $100 shares.
Subscribed, $348,800; Paid in, $250,134.
FUNDED DEBT-$300,000; in detail as follows—
1st Mortgage, 7 per cent. coupon bonds
$300,000
-dated 1st April, 1860, and payable, principal in 15 years, and coupons,
semi-annually, 1st April and 1st August, in the city of New York, convertible
within 5 years from date. In addition to the road, the bonds are secured by
a mortgage on 5,000 acres of coal lands.
The Buffalo and Bradford Railroad Company had a funded debt of $8,525
which is to be retired by the consolidated company.
Cost OF ROAD, ETC.$328,850 : in detail as follows—
Graduation and masonry
$133,652
Land, land-damages and fences
8145,977
Bridges
20,477
Engines and cars
Superstructure and iron
2,072
Engineering and agencies
36,672
Cost to 30th September, 1854, is stated at $80,000; 1855, $81,043 1856,
$87,628; 1857, $133,161; 1858, $133,520, and in 1859, $328,850.
BUFFALO AND CONHOCTON VALLEY RAILROAD.
(Now the Buffalo, New York and Erie Railroad.)
The Buffalo and Conhocton Vallcy Railroad Company was organized under
the general law, and filed articles of association on the 26th July, 1850. In
1852 an act was passed, authorizing the change of name to that of the Buf-
falo, Corning and New York Railroad Company, and the certificates of the
directors assenting to the provision of the act was filed on the 9th April,
1852-(See Buffalo, New York and Erie Railroad.)
Digitized by Google
244
NEW YORK-BUFFALO, CORNING AND NEW YORK.
BUFFALO, CORNING AND NEW YORK RAILROAD.
(Now a part of the Buffalo and New York City Railroad.)
LENGTH OF ROAD-Corning to Batavia
100 miles.
Second track and sidings, 6.25 miles.
The Buffalo, Corning and New York Railroad Company was organized under
the general railroad law, by the name of the Buffalo and Conhocton Valley
Railroad Company, and filed articles of association on the 26th July, 1850.
The change of name was authorized by an act of the Legislature passed in
1852. The work of construction was commenced in 1850, and the several
sections opened as follows :-from Corning to Savona, 14 miles, in Septem-
ber, 1851; to Kanona, 10 miles, on the 15th April; to Avoca, 31 miles, on
the 1st May; to Liberty, 71 miles, on the 31st May; to Blood's, 41 miles, on
the 1st July, and to Wayland, 54 miles, on the 2d August, 1852. In 1853
the road was extended to Leroy, 451 miles, and in 1854 to Batavia, 10 miles,
making in all 100 miles. In 1855 the Company made default in the interest
on its bonds, and on the 1st April, 1856, went into the hands of a receiver,
and the first mortgage issued to secure bonds to the amount of $998,000 was
foreclosed. On the 29th October, 1857, the road was sold to the Buffalo,
New York and Erie Railroad Company, and now forms a part of the line
of that road. At the time of the foreclosure the cost of the road was
$2,819,066, as follows:
COST OF ROAD AND EQUIPMENT TO THE 30TH SEPT., 1856, VIZ.-
Graduation and masonry
$893,230
Land, land damages and fences
$452,009
Bridges
35,026
Locomotive engines and snow ploughs. 74,345
Superstructure, including iron
936,063
Passenger and baggage cars
23,932
Stations, buildings and fixtures
16,950
Freight cars
121,545
Engine and car houses, machinery, etc.
39,346
Engineering, agencies and sundries.
216,626
SHARE CAPITAL (at the date of the foreclosure)-$1,487,074
FUNDED DEBT-$1,475,000 in detail as follows—
1st Mortgage, 7 per cent., coupon bonds
$998,000
-dated 1st April, 1852, and payable in 15 years; interest payable 1st April
and 1st October, in New York.
2d Mortgage, 7 per cent., coupon bonds
$477,000
-dated 1st June, 1853, and payable in 20 years; interest payable 1st June
and 1st December, in New York.
FLOATING DEBT-$24,783.
COST, EARNINGS, EXPENSES, ETC., YEARLY.
Cost of Road, Mile-
Gross Earnings
Operating
Net
Div
Year.
& equip't.
age.
Pass'r.
Freight.
Mails,&c.
Total.
expenses.
Earnings.
$
p.e.
1852
$703,637
44.74
$8,872
$9,844
$471
$19,187
$7,238
$11,949
nil.
nil.
1853
1,975,421
89.91
33,713
28,244
4,640
66,597
32,611
33,986
"
"
1854
2,597.963
100.00
62,071
55,176
5,900
123,147
72.395
50,752
.4
=
1855
2,819,096
100.00
84,027
78,075
10,374
172,476
106,143
66,333
"
"
1856
2,819,096
100.00
82,973
93,638
6,203
182,814
139,294
43,520
"
"
5 yrs..
6,915,213
434.65
271,656
264,977
27,588
564,221
357,681
206,540
"
a
Aver
1,383,042
86.93
54,331
52,995
5,517
112,844
71,536
41,308
"
"
[See Buffalo, New York and Erie Railroad.
Digitized by
Google
NEW YORK-BUFFALO AND NEW YORK CITY.
245
BULFALO AND LAKE HURON RAILROAD.
The Buffalo and Lake Huron Railroad Company of Canada was organized
under the general railroad law, and filed articles of association on the 19th
June, 1858. It had previously been declared to be a corporation, and
authorized to hold real estate within the State of New York.-(See Buffalo
and Lake Huron Railroad of Canada.)
BUFFALO AND LOCKPORT RAILROAD.
(Now a part of the New York Central Railroad.)
LENGTH OF RoAD-Lockport to Tonawanda
12.25 miles.
The Buffalo and Lockport Railroad Company was organized under the gene-
ral law, and filed articles of association on the 29th April, 1852. The con-
struction of the road was commenced in the same year. In 1853, while still
in progress, it was consolidated into the New York Central at an estimated
cost of $675,000. It was opened for public use in 1854.-(See N. Y. Central.)
BUFFALO AND NEW YORK CITY RAILROAD.
(Now operated as a part of the Buffalo, New York and Erie Railroad.)
LENGTH OF Roap—Buffalo to Hornellsville
91.50 miles.
Second track, including sidings, etc., 5.50 miles.
The Buffalo and New York City Railroad Company was chartered under the
name of the Attica aud Hornellsville Railroad Company in 1845. The title
of the Company was changed by an act of the Legislature in 1851. The
work of construction was commenced in 1850, and the road completed and
opened for business in 1852. On the 1st July, 1851, the Company issued
bonds to the amount of $700,000, payable in 15 years, secured by a mortgage
on that portion of the road between Attica and Hornellsville, 60 miles; and
on the 1st November, 1852, made a further issue of bonds to the amount of
$500,000, payable in 8 years, secured by a mortgage on that part of the road
between Buffalo and Attica, 311 miles-that portion of the line having been
purchased from the Buffalo and Rochester Company. On the 1st September,
1853, the Company made another issue of bonds to the amount of $500,000,
payable in 12 years, secured by a mortgage on the whole road, subject to
the two mortgages described. The Company failed to pay the interest on
the first issue, due 1st July, and on the second. due 1st November, 1854.
No interest was paid on the third issue after 1st March, 1854. In 1855 a
process for foreclosure was commenced by the holders of the last named
bonds, upon which a decree for sale was entered on the 4th October, 1856,
and the road was soon after sold, and conveyed by the purchaser to certain
parties for the sum of $379,568, who conveyed the same to the Buffalo, New
York and Erie Railroad Company, on the 29th of October, 1857; and this
Company assumed also the payment of the bonds of the mortgage on that por-
tion of the line between Buffalo and Attica, which now forms a part of its
line. That portion of the line between Attica and Hornellsville is now ope-
rated as & branch of the Buffalo, New York and Erie Railroad. It may be
proper to state, however, that the right to form the new line is disputed by
the bondholders of the section between Attica and Hornellville. For several
Digitized by
Google
246
NEW YORK-BUFFALO, NEW YORK AND ERIE.
years past no statement of the earnings of this road has been made. The
cost of the Buffalo and New York City Railroad, with its equipment on the
30th September, 1855, that being the date of the last Report made by this
Company, was $3,401,868; Share Capital paid in $798,439; Funded Debt,
$1,720,000, and Floating Debt, $867,849.-(See Buffalo, New York and Erie RR.)
COST, EARNINGS, EXPENSES, ETC., YEARLY.
Cost of
Miles
Gross Earnings
Operating Earn'gs,
Div
Year.
Road,
&c.
of
Road.
Passen'r.
Freight.
Mails,etc.
Total.
expenses. less exp.
$
p.c.
1853
$3,343,482
91.50
$118,105
$72,861
$4,592
$195,558
$161,994
$33,564
nil.
nil.
1854
3,401,868
91.50
128,943
116,853
8,974
254,770
202,740
52,030
"
"
1855
3,401,868
91.50
125,829
154,809
7,754
288,392
256,496
31,896
"
"
3
yrs.
10,147,218
274,50
272,877
344,523
21,320
738,720
621,230
117,490
"
at
Aver.
3,049,073
91.50
124,292
124,841
7,107
246,240
207,077
39,163
"
at
BUFFALO, NEW YORK AND ERIE RAILROAD.
(Financial year ending 30th September, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
A. D. Patchin
Buffalo, N.Y.
George Bliss
New York, N.Y.
Charles G. Miller
"
"
James G. King
"
"
Henry Martin
"
"
William Wainwright, Jr.
"
"
G. R. Wilson
"
"
D. W. Tomlinson
Batavia,
"
J. G. Deshler
"
"
A. P. Hascall
LeRoy,
33
John Arnot
Elmira,
"
Thomas Brown
Caledonia,
"
GEORGE W. TIFFT, President
Buffalo, N.Y.
GILBERT CAMERON, Treasurer
"
"
H. C. FISK, Superintendent
"
"
PRINCIPAL OFFICE
BUFFALO, Erie Co., N.Y.
LENGTH OF RoAD-Buffalo to Corning
142.00 miles.
Second track and sidings, etc., 11.33 miles.
Leased Line-Buffalo and New York City Railroad
60.00
"
Rochester and Genesee Valley Railroad
18.25
"
Avon, Geneseo and Mount Morris Railroad
15.13
"
Total length of road owned and leased by Company
235.38 miles.
The Buffalo, New York and Erie Railroad Company was organized under the
general law, and filed articles of association on the 24th October, 1858. On
the 29th of the same month the Company purchased the Buffalo, Corning
and New York Railroad, on the foreclosure of its first mortgage, dated 1st
April, 1852, to secure bonds to the amount of $998,000, and also the rights
acquired under the sale of the Buffalo and New York City Railroad, on the
foreclosure of the second mortgage on the same by a decree for that purpose
made on the 4th October, 1856. The Company also agreed to assume the
first mortgage on that portion of the Buffalo and New York City Railroad
between Buffalo and Attica, a distance of 311 miles, and claims, under the
proceedings described, to have become the owner of that part of the last-
named road. To connect this with the line of Buffalo, Corning, and New
York Railroad, a road was constructed from Attica to Batavia, about 11
miles, and opened on the 20th June, 1858. To provide the means for the
several purchases, and to construct the new road, the Buffalo New York
and Erie Company issued two mortgages, the first to secure bonds to the
Digitized by Google
NEW YORK-BUFFALO, NEW YORK AND ERIE.
247
amount of $2,000,000, and the second for $380,000. Upon the payment of
the 1st Mortgage ($500,000) on that portion of the Buffalo and New York
City Railroad between Buffalo and Attica, these mortgages will constitute
the only lien upon the road. On the bonds last-nained $370,000 have already
been exchanged for the 1st mortgage bonds of the new company. Since the
1st November, 1858, this Company has operated the Buffalo and New York
City Railroad from Attica to Hornellsville, and the Rochester and Genesee
Valley Railroad from Rochester to Avon, and since its completion the
Genesee Valley (now Avon, Geneseo and Mount Morris) Railroad from
Avon to Mount Morris.-(See these roads.)
SHARE CAPITAL-Authorized, $1,500,000, in 15,000 $100 shares.
Paid in, - $680,000, in 6,800
"
FUNDED DEBT-$2,410,721 described as follows—
1st Mortgage, 7 per cent. coupon bonds
$2,000,000
-dated 29th October, 1857, and payable, principal 1st December, 1877, and
coupons semi-annually 1st June and 1st December, at the Bank of Commerce
in New York.
2d Mortgage, 7 per cent. coupon bonds
$380,000
-dated 29th October, 1857, and payable, principal 1st November, 1872, and
coupons semi-annually 1st November and 1st May, at the same place.
Mortgages on real estate
$30,721
FLOATING DEBT-$252,142, bills payable and current accounts.
CosT OF ROAD AND EQUIPMENT-$3,150,762 no detail.
INCOME ACCOUNT FOR THE YEAR ENDING 30TH SEPT., 1859.
Receipts-
Disbursemento-
Passenger earnings
$148,353
Maintenance of road
$126,010
Freight
"
372,654
Repairs of engines and cars
65,340
Mail service
7,600
Operating expenses
177,578
Express freight earnings
4,249
Interest on bonds, etc
150,224
Milk
"
"
1,646
Surplus undivided
22,097
Telegraph
"
1,211
Newsboys
176
Hire of engines and cars
1,924
Rochester Divison (earnings)
3,435
Total
$541,249
Total
$541,249
GENERAL LEDGER BALANCE SHEET, 1ST OcT., 1859.
Dr.
Cr
Cost of road and equipment
$3,150,762
Share capital
$680,000
First mortgage bonds on hand
228,800
Funded debt
2,410,721
Roch. and Genesee V. RR. Co.'s stock
150,000
First Mort. Bds. B. & N.Y. City RR
181,500
Buffalo and N. Y. City RR Co.'s bonds
6,116
Floating debt-
Quincy and Toledo RR. Co.'s bonds
8,085
Bills payable
$66,275
Coupon account, 1857
12,215
Pay rolls
67,949
Interest paid during year
150,224
Current accounts
117,918-252,142
Fuel, &c, on hand
75,715
Earnings of transportation
541,249
Expenses of transportation, 1858-9
368,928
Balance of transportation account
Cash and cash items
50,865
from 1858
141,097
Total
$4,206,710
Total
$4,206,710
The earnings for the eleven months ending 30th September, 1858, amount-
ed to $429,754, viz. : from passengers, $128,654 freight, $283,738, and other
sources, $17,452. The total transportation expenses for the same period
Digitized by
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248
NEW YORK-BUFFALO AND ROCHESTER.
were $301,632, viz. : for maintenance of road, $109,163; repairs of rolling
stock, $57,111, and operating expenses, $135,358. Net earnings, $128,122,
from which was paid interest $1,490.
BUFFALO AND NIAGARA FALLS RAILROAD.
LENGTH OF ROAD-Buffalo to Niagara Falls
22 miles.
The Buffalo and Niagara Falls Railroad Company was chartered in 1834, and
completed its road in 1837, at a cost of $217,472. On the consolidation of
the New York Central that Company took a lease of the Buffalo and Nia-
gara Falls Railroad, agreeing to pay, as rent, dividends to the stockholders
of this Company at the same rate as to its own. By an act of the Legislature
passed in 1855, the holders of shares in the Buffalo and Niagara Falls Com-
pany were authorized to exchange them for shares in the Central, in pur-
suance of which the Company became merged, The cost of the road at
that date was $492,129 : Share Capital, $564,117 Funded Debt, $69,670
Floating Debt, $1,964. The debts of the Company were assumed by the
Central Company, which 866.
COST, EARNINGS, EXPENSES, ETC., YEARLY.
Cost of
Mile-
Gross Earnings
Operating
Net
Div
Year.
Road, etc.
age.
Pass'er.
Freight. Mails, etc.
Total.
expenses.
Earnings.
$
p.c.
1845
$217,472
22.00
$25,804
$1,877
$912
$28,593
$13,530
$15,063
811,866
8
1846
205,902
22 00
29,841
3,315
800
33,956
14,644
19,312
13,915
8
1847
205,902
22.00
43,726
3,116
800
47,632
18,879
28,753
15,879
8
1848
250,396
22.00
55,768
3,446
800
60,014
24,525
35,489
15,930
8
1849
394,287
22.00
47,767
3,813
900
52,480
16,431
36,049
7,997
3
1850
428,241
22.00
67,979
4,317
1,000
73,296
17,218
56,078
25,421
7
1851
440,249
22.00
83,677
6,066
1,000
90,743
30,549
60,194
21,715
6
1852
467,936
22.00
80,007
7,319
1,000
88,326
37,271
51,055
39,150
10
1853
492,129
22 00
103,736
12,251
1,000
116,987
44,404
72,583
40 462
8
9 yrs
3,102,514
198.00
538,305
45,510
8,212
592,027
217,451
374,576
192,335
Aver.
344,724
22.00
59,812
5,057
912
65,781
24,161
41,620
21,370
7.3
BUFFALO AND PITTSBURG RAILROAD.
(See Buffalo, Bradford and Pittsbarg Railroad.)
BUFFALO AND ROCHESTER RAILROAD.
(Now a part of the New York Central Railroad Company.)
LENTH OF Rosd-Main Line, Buffalo to Rochester
68.98 miles.
Branch Line, Bavavia to Attica
11.00
"
The Buffalo and Rochester Railroad Company was formed by the consolida-
tion of the Attica and Buffalo Railroad and the Tonawanda Railroad Com-
panies, and filed articles of association, under the general law, on the 7th
December, 1850. In 1852, having completed a direct road between Buffalo
and Batavia, the Company sold that portion of its old road, which extended
from Buffalo to Attica, 31.95 miles, to the Attica and Hornellsville (Buffulo
and New City) Company. On the 17th May, 1853, the Company was con-
solidated into the New York Central Company. At the date of the con-
Digitized by
Google
NEW YORK-BUFFALO AND STATE LINE.
249
solidation, the cost of the road and equipment was $3,322,152; Sharo
Capital, $2,353,125; Funded Debt, $175,000; and Floating Debt, $140,000.
(See Attica and Buffalo, and Tonawanda Railroads.)
COST, EARNINGS, EXPENSES, ETC., YEARLY.
Cost
Mile-
Gross Earnings
Operating
Net
-Div.-
Year.
of Road.
age.
Pass'gers.
Freight.
Mails,
etc.
Total.
Expenses.
Earnings.
$
P 0.
1851
$2,228,976
76.00
$366,246
$90,348
$12,500
$469,094
$133,633
$335,461
$91,489
5
1852 2,415,014
76.00
431,357
166,098
22,521
619,976
204,653
415,323
182,581
10
1853
3,332,152
79.98
204,856
140,378
14,338
359,572
147,447
212,125
319,425
131
3
yrs..
7,976,142
231.98
1,002,459
396,824
49,359
1,448,642
485,733
962,909
593,495
Aver.
2,658,714
77.33
334,153
132,275
16,453
482,880
161,911
320,969
197,831
91
BUFFALO AND STATE LINE RAILROAD.
(Financial year ending 30th September, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
Dean Richmond (V.-Pres.). Batavia, N.Y.
John Wilkinson
Syracuse, N.Y.
James S. Wadsworth
Geneseo,
"
Hamilton White
"
"
Charles H. Lee
Silver Creek,
"
George W. Patterson
Westfield,
J
Joseph Field
Rochester,
"
Alanson Robinson
Buffalo,
"
.
Daniel Drew
New York,
"
Henry L. Lansing
"
"
Charles Moran
"
"
William Keep
"
"
GEORGE PALMER, President
Buffalo, N.Y.
HENRY N. LANSING, Treasurer
"
"
ROBERT N. BROWN, Engineer and Superintendent.
"
"
PRINCIPAL OFFICE
BUFFALO, Erie Co., N.Y.
LENGTH OF ROUTE-Buffalo to State Line
68.34 miles.
Second track, including sidings, etc., 12.50 miles.
Erie and Northeast Railroad, State Line to Erie
19.50
"
Second track and sidings, otc., 4.12 miles.
Total length of road owned and operated by Company
87.84
"
ROLLING STocK-Locomotive engines
28
Cars (8-wheel) :-Passenger, 1st class, 22, and 2d class, 12; baggage, mail
and express, 5; freight, 307
346
The Buffalo and State Line Railroad Company was organized under the gen-
eral law, and filed articles of association on the 13th October, 1849. An act
had previously declared the public utility of a railroad from Buffalo to the
State line. The work of construction was commenced in July, 1850; and
completed and the road opened between Dunkirk and the State line, 27.34
miles, on the 1st January, 1852, and the eastern division from Dunkirk to
Buffalo, 41 miles, on the 22d February following. In 1853 this and the
Erie and Northeast Company of Pennsylvania agreed to operate their roads
as one line, dividing net proceeds in proportion to their respective capitals.
In 1857 the former Company obtained authority to purchase the Erie and
Northeast road by an exchange of stocks and bonds, which has been
effected to the amount of $613,000 of the former, and $149 000 of the latter.
-(See Eric and Northeast Railroad, Pennsylvania.)
32
Digitized by
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250
NEW YORK-BUFFALO AND STATE LINE.
SHARE CAPITAL-Authorized by articles, $1,300,000, in 26,000 $50 shares.
Increased under law of 1857, chap. 362, $700,000, in 14,000
"
Paid in up to 30th Sept., 1859, $1,934,950, on
"
u
FUNDED Девт—$1,049,000 classified as follows—
1st Mortgage, 7 per cent. coupon bonds
$500,000
-dated 1st October, 1851, and payable, principal 1st October, 1866, and
coupons semi-annually, 1st April and 1st October, at New York.
Income 7 per cent. bonds
$200,000
-dated 1st April, 1852, and payable, principal one-half 1st April, 1859, and
one-half 1st April, 1562, and interest semi-annually, 1st January and 1st
July, at New York.
Unsecured 7 per cont. bonds
$200,000
-dated 1st October, 1852, and payable, principal 1st July, 1864, and interest
semi-annually, 1st January and 1st July, at New York.
Erie and Northeast Exchange 7 per cent. bonds
$80,000
-dated 1st June, 1857, and payable, principal 1st June, 1870, and interest
semi-annually 1st January and 1st July, at New York.
Eric and Northeast Exchange 7 per cent. bonds
$69,000
-dated 1st January, 1858, and payable, principal 1st January, 1861, and
interest semi-annually, 1st January and 1st July, at New York.
FLOATING DEBT-$161,263.
COST OF ROAD AND EQUIPMENT-$2,779,994 in detail as follows—
Graduation and masonry
$920,149
Land, land-damages and fences
$351,273
Bridges
55,449
Locomotives and snow ploughs
241,305
Superstructure, including iron
722,797
Passenger and baggage cars
58,342
Stations, buildings and fixtures
95,886
Freight and other cars
213,089
Engine and car houses, shops, etc.
75,233
Engineering and agencies
46,469
INCOME ACCOUNT FOR THE YEAR ENDING 30TH NOVEMBER, 1859.
Receipts—
Disbursements-
Passenger earnings
$391,215
Maintenance of way
$180,431
Freight
"
439,453
Repairs of rolling stock
50,560
U.S. mail
"
13,800
Operating expenses
198,947
Express
"
3,753
Interest
73,625
Rent
21
Dividends
216,000
Surplus undivided
128,764
Total
$848,327
Total
$848,327
The Company publish no balance sheet. The application for one, and for
information as to its affairs, was refused.
COST, EARNINGS, EXPENSES, ETC., YEARLY.
Cost of
Mile-
Gross Earnings
Operating Earnings,
Div.
Year.
Road,&c.
age.
Pass'r.
Freight.
Mails, etc.
Total.
expenses.
less exp.
$
p. 0
1852.$1,921,270
68.34
$98,097
$31,530
$4,679
$134,306
$66,319
$67,987
nil.
nil.
1853.
2,220,591
68.34
274,616
108,502
12,321
395,439
154,045
241,394
134,805*
12
1854.
2,343,849
68.34
332,992
160,951
13,675
507,618
242,764
264,854
120,000
10
1855
2,494,364
68.34
397,341
268,609
13,800
679,750
323,987
355,763
130,000
10
1856
2,589,787
68.34
420,229
366,086
13,800
800,115
474,171
325,944
130,000
10
1857
2,739,936
68.34
410,920
425.643
13,845
850,408
640,106
210.302
143,000
11
1858.
2,772,987
68.34
423,687
400,748
15,681
840,116
480,507
359,609
108,000
6
1859.
2,779,994
68.34
391,215
439,453
17,574
848,242
429,938
418,304
216,000
12
8
yrs.19,862,778
546.72
2,749,097
2,201,522
105,375
5,055,994
2,811,837
2,244,157
981,805
Aver.
2,482,847
68.34
343,638
275,190
13,172
631,999
351,479
280,519
122,723
8.9
Includes dividend for 1852.
Digitized by
Google
NEW YORK-CAYUGA AND SUSQUEHANNA.
251
CANAJOHARIE AND CATSKILL RAILROAD.
The Canajoharie and Catskill Railroad Company was chartered in 1830. The
construction of the road was commenced in 1837, and a portion partially
constructed at an estimated cost of $3,571 per mile, when completed. In 1838
the State made a loan to the Company of $200,000. In 1841 the Company
failed to pay the interest on the loan, and on the 20th May, 1842, the road
was sold by the Comptroller of the State for the sum of $11,600, the
balance of the loan being a total loss. The project was soon after abandoned.
CAYUGA AND SUSQUEHANNA RAILROAD.
(Financial year ending 30th September, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
John Howland
New York, N.Y.
William B. Skidmore
New York, N.Y.
William E. Dodge.
"
"
George W. Scranton
Scranton, Pa.
Daniel S. Miller
"
"
John J. Blair
Blairstown, N.J.
Henry Ellsworth
"
"
J. B. Williams
Ithaca, N.Y.
THOMAS W. GALE, President and Treasurer
New York, N.Y.
WILLIAM R. HUMPHREY, Superintendent
Ithaca, "
PRINCIPAL OFFICE
No. 46 Exchange Place, NEW YORK CITY, N.Y.
LENGTH OF ROAD-Owego to Ithaca Pier
34.61 miles.
Second track, including sidings, 3.49 miles.
ROLLING STOCK-Furnished by the Delaware, Lackawanna and Westorn Company.
The Cayuga and Susqushanna Railroad Company is successor to the Ithaca
and Owego Railroad, chartered on the 28th January, 1828. Its road was
opened on the 1st April, 1834. In 1838, the Ithaca and Owego Company
obtained a loan from the State amounting in all to $315,700. In 1841 the
Company made default in the payment of interest on the loan, and on the
20th May, 1842, its road was sold by the Comptroller of the State for $4,500,
the balance being a total loss. The purchasers formed themselves into a new
company on the 18th April, 1843, under the name of the Cayuga and Sus-
quehanna Railroad Company. In addition to the cost of the road the pur-
chasers paid $13,500 for equipment, making the cost of the whole property
$18,000. In 1849 the road was re constructed and laid with a heavy rail.
In 1850 it was extended to the pier on Cayuga Lake. On the 1st January,
1855, the road was leased, in perpetuity, to the Delaware, Lackawanna and
Western Railroad Company for $70,000 per annum, the said Company agree-
idg to keep it in repair and pay all operating expenses. On the 1st Octo-
ber, 1857, the annual rent was reduced, by agreement, to $54,600 per annum.
SHARE CAPITAL-Authorized, $1,500,000, in 25,000 $60 shares.
Paid in, - - $687,000, on 11,700
"
FUNDED DEBT-$411,000 described as follows—
1st Mortgage, 7 per cent., coupon bonds
$300,000
-dated 1st January, 1850, and payable, principal 1st January, 1865, and
interest semi-annually, 1st January and 1st July, in New York City.
Unsecured 7 per cent. bonds
$89,000
-dated 1st January, 1852, and payable, principal 1st January, 1862, and
interest semi-anoually, 1st Junuary and 1st July, in New York City.
Digitized by Google
252
NEW YORK-CANANDAIGUA AND ELMIRA.
2d Mortgage 7 per cent. convertible bonds
$32,000
-duted 1st January, 1854, and payable, principal 1st January, 1864, and
interest semi-annually, 1st January and 1st July, in New York City.
Cost OF ROAD AND EQUIPMENT-$1,095,600; in detail, as follows:
Graduation and masonry
$181,731
Land, land-damages and fences
$461,178
Bridges
29,093
Locomotives and snow ploughs
41,571
Superstructure, including iron
286,659
Passenger and baggage cars
10,197
Stations, buildings and fixtures, engine
Freight and other cars
27,774
and car-houses, shops, machinery, etc.
47,791
Engineering and agencies
9,606
FLOATING DEBT-None.
LESSEE'S ACCOUNT OF OPERATIONS FOR THE YEAR ENDING 30TH SEPT., 1858.
Receipts-
Disbursements-
Passenger earnings
814,117
Maintenance of way
$22,802
Freight
"
43,263
Repairs of rolling stock
6,958
Mails,
"
1,835
Operating expenses
19,047
Surplus income
10,398
Total
$59,205
Total
$59,205
COMPANY'S INCOME ACCOUNT FOR THE YEAR ENDING 30TH SEPT., 1859.
Income-
Disbursements-
Annual rent
$54,600
Interest on bonds
$21,820
Dividend 41 per cent
30,915
Expense account
559
Surplus
1,306
Total
$54,600
Total
$54,660
GENERAL STATEMNET 1ST OCTOBER, 1859.
Dr.
Cr.
Cost of road
$1,016,058
*Share capital
$687,000
"
equipment
79,542
Funded debt
411,000
Profit and loss
3,706
Surplus income
1,306
Total
$1,099,306
Total
$1,099,306
COST, EARNINGS, EXPENSES, ETC., YEARLY.
Cost of Road, Mile-
Gross Earnings
Operating
Net
-Div."-
Year.
& equip't.
age.
Pass'r.
Freight.
Mails,&c.
Total.
expenses.
Earnings.
8
p.o.
1845.
$18,000
28.75
$2,079
$10,048
846
$12,173
$12,173
nil.
nil.
1846-
18,000
28.75
3,079
14,079
17,158
14,557
2,601
"
"
1847.
18,000
28.75
3,581
17.644
21,225
21,088
137
"
"
1848.
18,000
28.75
2,375
15,694
18,069
15,906
2,163
"
"
1849.
321,011
28.75
4,823
7,819
12,642
12,642
"
"
1850.
580,310
34.61
33,601
10,417
4,207
48,225
30,811
17,414
"
"
1851.
617,313
34.61
20,698
30,722
24,399
75,819
34,007
41,812
"
"
1852.
1,070,786
34.61
21,635
52,607
36,581
110.823
50,748
60,077
"
"
1853.
1,076,321
34.61
24,384
53,560
28.152
106,096
49,836
56,260
"
"
1854
1,093,624
34.61
25,241
64,375
31,233
120,849
58,589
62,260
=
"
1855.
1,187,562
34.61
19,442
106,038
9,953
135,433
86,784
48,649
"
"
1856.
1,183,012
34.61
20,473
74,847
1,831
97,151
77,285
19,866
"
"
1957
1,102,549
34.61
17,019
59,438
1,829
78,286
65,806
12,480
"
"
1858.
1,095,600
34.61
13,565
44,029
1,827
59,421
54,328
5,093
30,915
41
1859.
1,095,600
34.61
14,117
43,263
1,825
59,205
48,807
10,398
30,915
41
15 a.10,795,688
489.85
226,112
604,580
141,883
972,575
633,333
351,852
61,830
Aver.
719,712
32.66
15,974
40,305
9,459
64,838
42,224
23,456
4,091
0.6
CANANDAIGUA AND ELMIRA RAILROAD.
(See Elmira, Jefferson and Canandaigua Railroad.
Digitized by
Google
NEW YORK-CORNING AND OLEAN.
253
CHEMUNG RAILROAD.
(Financial year ending 30th September, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
Simeon Benjamin
Elmira, N.Y.
John A. Carter
Brooklyn, N.Y.
John Arnot
"
"
Joseph P. Wickham
"
"
Clarkson N. Potter
New York,
"
Josiah W. Baker
New York,
"
David S. Manners
Jersey City,
"
John J. Lagrave
"
"
Robert Bayard (V. Pres.) Havana,
"
William W. Wicks
"
"
Isaac Otis
Brooklyn,
"
Joshua J. Henry
"
"
JOHN P. RATHBUN, President
ELMIRA, N.Y.
WILLIAM S. BROWN, Treasurer
NEW YORK,
"
PRINCIPAL OFFICE
No. 38 Dey street, NEW YORK CITY, N.Y.
LENGTH OF RoAD-Elmira Junction to Jefferson
17.36 miles
Second track and sidings, etc.. 2.06 miles.
The Chemung Railroad Company was chartered in 1845, and the road was
completed 16th December, 1849. On the 15th January, 1850, it was leased
for ten years to the New York and Erie Company at $36,000 a year; and
on the 1st January, 1859, the same Company took a new lease for 20 years
at $30,000 a year. It is operated in connection with the New York and Erie,
and Elmira, Jefferson and Canandaigua roads, being of the same guage.
SHARE CAPITAL-Authorized and paid in, $380,000, in 15,200 $25 shares.
FUNDED DEBT-$70,000 : described as follows—
1st Mortgage, 7 per cent., coupon bonds
$70,000
-dated 10th May, 1849, and payable, principal 10th May, 1859, and inter-
est semi-annually, 10th May and 10th Nov., at Merchants' Bank, New York.
COST OF ROAD AND EQUIPMENT, ETC.-$400,000: in detail as follows—
Graduation and masonry
$220,000
Stations, buildings and fixtures
$3,000
Bridges
17,500
Engine and car houses, machine shops, etc.
1,500
Superstructure, including iron
143,000
Land, land damages and fences
15,000
CORNING AND BLOSSBURG RAILROAD.
(See Blossburg and Corning Railroad.)
CORNING AND OLEAN RAILROAD.
LENGTH OF ROUTE-Corning to Olean
84 miles.
The Corning and Olean Railroad Company was organized under the general
law and filed articles of association on the 18th February, 1853. The object
of this Company is to construct a direct road between the two points
named above, and with the same guage as the New York and Erie Railroad.
No report has been made of the affairs of the Company since 30th Septem-
ber, 1856. At that date the following statement was presented :
SHARE CAPITAL-Authorized, $850,000, in 8,500 $100 shares.
Paid in,
-
$8,500, on 850
"
FLOATING DEBT
$10,000, at 7 per cent.
Expended in agencies, etc
$12,500
Nothing has yet been done towards construction, nor has any interest been
paid on the floating debt.
Digitized by Google
254
NEW YORK-ELMIRA, JEFFERSON AND CANANDAIGUA.
FLUSHING RAILROAD.
(Financial year ending 30th September, 1859.)
E. B. LITCHFIELD, President
Brooklyn, N.Y.
R. J. HUBBARD, Secretary.
"
"
PRINCIPAL OFFICE
NEW YORK CITY, N.Y.
LENGTH OF RoAD-Hunter's Point to Flushing
7.8 miles
ROLLING STOCK-Locomotive engines
2
Cars :-passenger, 10; other cars, 8
18
The Flushing Railroad was organized under the General Railroad Law, on
the 3d March, 1852. The construction of the road was commenced in 1853,
and completed, and the road opened to the public on the 26th June, 1854.
In 1858 the road was sold under process for foreclosure of the first mort-
gage, and a new company organized, which took possession of it on the 1st
May, 1859. The amount of the mortgage for which the road was sold was
$165,000, dated 1st September, 1853, and payable 1st September, 1868.
SHARE CAPITAL-Authorized and paid, $120,000.
FUNDED DEBT-$125,000; described as follows—
1st Mortgage, 7 per cent., coupon bonds
$125,000
-dated 1st March, 1859, and payable in 20 years; interest payable semi-
annually, in New York.
The company has published no reports since 1856. The earnings of the
road average about $45,000; the net earnings about $20,000. The cost of
the road to the new company equals the amount of its liabilities. No
income account or general statement can be given.
EIGHTH AVENUE RAILROAD.
(See New York City Passenger Railroads.)
ELMIRA, JEFFERSON AND CANANDAIGUA RAILROAD.
(Financial year ending 30th September, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
Robert Bayard
New York City, N.Y.
Andrew Foster
New York City, N.Y.
Clarkson N. Potter
"
"
W. H. Townsend
"
"
Robert B. Potter
"
"
John E. Parsons
"
"
Septimus Crooks
"
"
John T. Rathbun
"
"
Charles Congdon
"
"
Joseph P. W ickham
Brooklyn, N.Y.
Anthony J. Hill
"
"
John Bloodgood
New York City, N.Y.
ROBERT BAYARD, President
New York City, N.Y.
CLARKSON N. POTTER, Treasurer and Secretary
"
"
PRINCIPAL OFFICE
NEW YORK CITY, N.Y.
LENGTH OF Road-Canandaigua to Jefferson
46.84 miles.
Sidings, turnouts, etc., 2.89 miles.
The Elmira. Jefferson and Canandaigua Railroad Company was organized un-
der the general law, and filed articles of association on the 18th February,
1859. The original Company under the name of Canandaigua and Corning,
Digitized by Google
NEW YORK-ERIE AND NEW YORK CITY,
255
was chartered on the 4th May, 1845, and organized on the 8th August of
the same year. Construction was commenced in August, 1850, and the road
completed on the 15th Sept., 1851. In 1850 the name of the Company was
changed to Canandaigua and Elmira, and again in 1857 to Elmira, Canan-
daigua and Niagara Falls. In July, 1858, the road was placed in the hands
of a Receiver in behalf of the first mortgage bondholders, who proceeded
against the three first companies, and the road was sold under judgment for
$200,000, and the present company was formed by the purchasers. On the
1st January, 1859, the road was leased by the New York and Erie Company
for 20 years, at $25,000 a year.
SHARE CAPITAL-Authorized, $500,000, in 5,000 $100 shares.
FUNDED OR FLOATING DEBT-None.
FUNDED DEBT of Canandaigua and Elmira Company, (1856,) $1,014,400
Class.
Amount.
Date.
Due.
Interest payable.
1st Mort., 7 p.e. bonds
$300,000
2d July, '50
2d July, '60
1st Jan. & July, at N. York.
2d Mort., 7 p.c.
"
200,000
1st Nov., '51
1st Nov., '57
1st April & Nov.,
"
2d Mort., 7 p.o. "
....
200,000
1st Feb., '52
1st Feb., '62
1st Feb. & Aug.,
"
4th Mort., 7 p.c. "
100,000
1st Ap.. '53
1st Ap., '59
1st Ap. & Nov.,
"
5th Mort., 7 p. c.
"
214,400
1st Sept., '55
1st Sept., '75
1st Mar. & Sept.,
"
-all of which were extinguished by the sale except the 1st Mortgage bonds.
COST OF ROAD AND EQUIPMENT-$1,274,779 : in detail as follows—
Graduation and masonry
$459,517
Land, land damages and fences
$136,250
Bridges
68,222
Locomotives and snow ploughs
103,145
Superstructure, including iron
359,714
Passenger and baggage cars
20,170
Stations, buildings and fixtures
24,450
Freight cars
64,298
Engine and car houses, etc
14,831
Engineering and agencies
23,730
COST, EARNINGS, EXPENSES, ETC., YEARLY.
Cost.
Mile-
Gross Earnings
Operating
Net
-Div.-
Year. of Road.
age.
Pass'gers.
Freight.
Mails,
etc.
Total.
Expenses.
Earnings.
$
p.o.
1853
$1,147,247
46.84
$92,307
875,103
$2,933
$170,343
$119,537
$50,806
nil.
nil.
1854 1,269,927
46.84
98,599
68,385
3,425
170,409
113,748
56,661
"
"
1855
1,275,796
46.84
109,473
55,617
8,999
174,089
104,583
69,506
"
"
1856
1,274,779
46.84
112,128
73,562
6,902
192,592
150,500
42,092
"
"
4 yrs
4,967,749
187.36
412,507
272,667
22,259
707,433
488,368
219,065
"
"
Aver 1,241,937
46.84
103,127
68,166
5,564
176,858
122,092
54,766
"
"
ERIE AND NEW YORK CITY RAILROAD.
(Financial year ending 30th September, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
Robert Newland
Jamestown, N.Y.
Benj. Chamberlain
East Randolph, N.Y.
Warner D. Shaw
"
"
Thaddeus S. Sheldon
Randolph,
"
Augustus F. Allen
"
"
William A. Lowry
Jamestown,
"
William Hall
"
"
Reuben E. Fenton
Frewsburg,
"
Sumner Allèn
"
"
Daniel Williams
Ashville,
"
Bradford Burlin
"
"
Sardius Steward
Blockville,
"
HENRY BAKER, President
Jamestown, N.Y.
ROBERT NEWLAND, Treasurer
"
"
THOMAS Hassard, Engineer and Superintendent
"
"
PRINCIPAL OFFICE
JAMESTOWN, Chantauque Co., N.Y.
Including the Chemung Road, 17.36 miles, and part of the New York and Erie, 4 miles, the
total length operated is 68 miles.
Digitized by Google
256
NEW YORK-HICKSVILLE AND COLD SPRING.
LENGTH OF Rosp-Little Valley Creek to the boundary line of Penna. 63.16 miles.
The New York City and Erie Railroad Company was organized under the
general railroad law, and filed articles of association on the 12th March,
1852. The work of construction was commenced in May, 1853, and con-
tinued up to the 1st January, 1855, when it was suspended, and has not yet
been resumed. The time in which the road was to have been constructed
having expired, an act for its extension was passed in January, 1857.
SHARE CAPITAL-Authorized, $750,000, in 15,000 $50 shares.
Paid in, - $352,741, on 7,520
"
FUNDED DEBT-$14,000: described as follows—
1st Mortgage, 7 per cent. coupon bonds
$14,000
-dated 1st February, 1854, and payable, principal in 20 years, and coupons
semi-annually, 1st March and 1st Sept., at the Merchants' Bank, city of
New York. Total provided for in the mortgage $750,000.
FLOATING DEBT-$28,716.
COST OF ROAD AND EQUIPMENT-$287,357 : in detail as follows—
Graduation and masonry
$193,543
Land, land damages and fences
$28,177
Bridges
4,495
Engineering, agencies and office expenses 25,351
Superstructure
13,783
Interest, salaries and contingencies, etc. 22,357
STATEMENT OF COST, YEARLY.
1852
$4,775
1854
$239,766
1856
$269,728
1853
I
1858
$283,733
27,431
1855
264,733
1857
269,728
1859
287,357
Since the above sketch was written the Erie and New York City Railroad
has been purchased by the Atlantic and Great Western Railroad Company
of Pennsylvania, and is now being constructed by that company, and is to
form a part of its line. It is expected to be completed to the boundary
line of Pennsylvania the present season.- See Atlantic Great Western Railroad
GENESEE VALLEY RAILROAD.
(See Avon, Geneseo and Mount Morris Railroad.)
HICKSVILLE AND COLD SPRING RAILROAD.
(Financial year ending 30th September, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
Charles H. Jones.
Charles B. Moore,
Edward Willis,
Solomon Townsend,
Samuel A. Jones,
Willet Robbins,
John D. Jones,
Charles Howlet,
Walter R. T. Jones,
Thomas F. Youngs,
Samuel W. Jones,
John H. Jones.
JOHN H. JONES, President
New York, N.Y.
JOHN D. JONES, Treasurer
"
"
PRINCIPAL OFFICE
No. 104 Wall street, NEW YORK City, N.Y.
LENGTH OF ROAD-Hicksville to Syosset
4.00 miles.
Second track, including sidings, 0.16 mile.
ROLLING STOCK
Supplied by Long Island Railroad Company.
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NEW YORK-HUDSON AND BOSTON.
257
The Hicksville and Cold Spring Railroad Company was chartered on the 28th
June, 1851, and was first organized on the 3d November, 1853. Articles of
association were filed on the 7th November following. The work of con-
struction was commenced in the full of the same year, and the road com-
pleted and opened for public use from Hicksville to Syosset, 4 miles, on the
3d July, 1854, having been previously leased in perpetuity to the Long Island
Railroad Company, at 7 per cent. on its cost. The road is designed to be
continued to Cold Spring, about 21 miles further.
SHARE CAPITAL-Authorized, $200,000, in 4,000 $50 shares.
Paid in, - $27,820, on 560
"
FUNDED DEBT-$17,190; described as follows—
1st Mortgage, 7 "per cent. bonds
$17,190
-dated 1st March, 1855, and payable, principal in 10 years, and interest
semi-annually, 1st March and 1st November, at the Company's office, in New
York City.
FLOATING DEBT-$252.
COST OF ROAD, ETC.-$45,263 in detail as follows—
Graduation and masonry
$6,690
Engine and car houses, shops, etc.
660
I
Land, land damages and fences
$2,902
Superstructure, including iron
34,350
Engineering and agencies
661
HUDSON AND BERKSHIRE RAILROAD.
(See Hudson and Boston Railroad.)
HUDSON AND BOSTON RAILROAD.
(Financial year ending 30th September, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
Chester W. Chapin
Springfield, N.Y.
Hamilton Harris
Albany, N.Y.
Anson Phelps
"
"
J. H. King
"
"
Henry Gray
"
"
John H. Reynolds
"
"
William H. Swift
Boston, Mass,
H. H. Babcock
"
"
Thomas W. Olcott
Albany, N.Y.
J. W. Fairfield
Hudson, "
Thomas L. Green
"
"
Kilian Miller
"
"
GEORGE H. POWER, President and Superintendent
Hudson, N.Y.
S. FAIRBANKS, Treasurer
Boston, Mass.
PRINCIPAL OFFICE
HUDSON, Columbia Co., N.Y.
LENTH OF RoAD-Hudson to Chatham Four Corners
17.33 miles.
Second track, including sidings, etc., 2.62 miles.
ROLLING STOCK-Locomotive engines
4
Cars (8-wheels) :-Passenger, 3; baggage and mail, 3; freight, 47
53
The Hudson and Boston Railroad Company is successor to the Hudson and
Berkshire Company, which was chartered in 1828. The construction of the
road was commenced in 1835, and the road opened for its entire distance
from Hudson to the State line of Massachusetts, a distance of 311 miles, in
33
Digitized by Google
358
NEW YORK-HUDSON AND BOSTON.
September, 1838. It was originally constructed with a flat rail. On the
28th April, 1840, the State made a loan to the Company of $150,000, taking
a first mortgage on the road for security. The Company being still embar-
rassed, the Legislature, on the 14th December, 1847, authorized it, in case it
would raise from stockholders and expend in relaying the road $50,000, and
that no additional indebtedness should be created on account of material
delivered, labor performed, or money advanced, the Company might issue
bonds secured by a mortgage on the road to take precedence of the lien in
favor of the State to the amount of $175,000. These bonds were made
payable to the State Comptroller, and countersigned by him, and then issued
and sold. The Company failing to pay interest on the State loan, as well as
on its own bonds, the road was sold by the Comptroller, for the benefit of
the holders of the Company's bonds to the Western Company of Massachu-
setts, on the 21st March, 1854, for the sum of $155,000, the loan made by
the State proving a total loss. Since the purchase that portion of the road
between Chatham and the State line, a distance of 14 miles, and laying con-
tiguous to, and nearly parallel with the Albany and West Stockbridge Rail-
road, has been abandoned, and the western portion has been reconstructed.
Although owned by the Western Railroad Company, a separate organization
is maintained within the State of New York.
SHARE CAPITAL-$175,000, in 1,750 $100 shares, (all paid in.)
FUNDED OR FLOATING DEBT-None.
COST OF ROAD AND EQUIPMENT, KTc.-$175,000: in detail as follows—
Graduation, masonry and bridges
$85,000
Land, land damages and fences
$13,000
Superstructure, including iron
40,000
Locomotives and snow ploughs
12,000
Stations, buildings and fixtures
5,000
Passenger and baggage cars
3,000
Engine and car houses, shops, etc
5,000
Freight cars
12,000
INCOME ACCOUNT FOR THE YEAR ENDING 30TH SEPT., 1859.
Receipts-
Disbursements-
Passenger earnings
$14,805
Transportation expenses
$51,804
Freight
"
48,123
Dividend 6 per cent
10,500
Other sources
875
Surplus fund
1,498
Total
$63,803
Total
$63,603
The general accounts of this Company are made up with those of the
Western Company of Massachusetts, which see.
COST, E4RNINGS, EXPENSES, ETC., YEARLY.
Cost of
Mile-
Gross Earnings
Operating
Net
Div
Year.
Road, etc.
age.
Pass'er.
Freight. Mails, etc.
Total.
expenses.
Earnings.
8
p.e.
1844
$575,613
31.50
$9,088
$25,941
$35,029
$24,000
$11,029
nil.
nil
1345
575,613
31.50
8,367
27,572
35,939
23,000
12,939
"
44
1846
575,613
31 50
8,237
28,805
37,042
27,600
9,442
"
«
1847
575,613
31.50
6,782
22,055
28,837
23,500
5,337
"
as
1848
807,774
31.50
4,601
10,719
15,320
11,209
4,111
"
"
18b9
819,631
31.50
13,112
24,315
400
37,827
18,002
19,825
"
8
1850
821,331
31.50
14,772
25,269
1,000
41,041
27,349
13,692
"
"
1851
823,331
31.50
19,194
36,054
1,000
56,248
30,403
25,845
"
=
1852
824,331
31.50
17,204
31,240
1,000
49,444
22,978
26,466
"
66
1855
175,000
17 33
9,929
34,944
44,873
34,647
10,226
"
"
1856
175,000
17.33
18082
81,000
776
99,858
88,795
11,063
10,500
6
1858
175,000
17.33
13,054
42,910
2,243
58,207
47,367
10,840
10,500
6
1859
175,000
17.33
14,805
48,123
875
63,803
51,804
11,999
10,500
6
13
yrs.
7,099,050
352.82
157,227
438,947
7,294
603,468
430,054
172,814
31,500
Aver
546,081
27.14
12,094
33,765
561
46,420
33,127
13,293
2,423
1.4
NOTE.-No reports were made for 1853, 1854 and 1857.
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NEW YORK-HUDSON RIVER.
259
HUDSON RIVER RAILROAD.
(Financial year ending 30th September, 1859.)
BOARL OF DIRECTORS AND OFFICERS, 1859-60.
D. T. Vail
Troy, N.Y.
Jas. Boorman Johnston
New York, N.Y.
James Boorman
New York,
"
E. H. Miller
"
"
Edward Jones
"
"
Robert P. Getty
Yonkers,
"
John David Wolfe
"
"
William Kelly
Rhinebeck, "
William H. Hayes
"
"
Erastus Corning
Albany,
"
Henry A. Smythe
"
"
E. M. Gilbert
Utica, "
SAMUEL SLOAN, President
Brooklyn, N.Y.
C. C. CLARKE, Treasurer
New York,
"
A. F. SMITH, Superintendent
"
"
PRINCIPAL OFFICE
No. 68 Warren street, New York City, N.Y.
LENGTH OF RoAD-New York City to East. Albany
143.72 miles
Second track and Sidings
106.50 "
Leased Road-Troy and Greenbush Railroad
6.00 "
ROLLING STOcK-Locomotive Engines
57
Passenger (8-wheel) cars, 1st class
98
Passenger (8-wheel) cars, 2d class (emigrant)
9
Baggage, mail and express (8-wheel) cars.
30
Freight (8-wheel) cars.
511
The Hudson River Railroad Company was chartered on the 12th day of
May, 1846. The first section, extending from the city of New York, 53
miles north, was placed under contract, on the 20th of July, 1847 and to
Poughkeepsie, 20 miles further, in April, 1849. The road was opened to
Peekskill, 43 miles, on the 29th of Sept., 1849; thence to New Hamburg,
21 miles, on the 6th of December, and to Poughkeepsie, 9 miles, 31st De-
cember, 1849. The division north of Poughkeepsie was put under con-
tract in 1849, and opened as follows :-From Albany to Hudson, 28 miles,
on the 16th June, 1851; from Hudson to Oakhill, 6 miles, on the 7th of July,
1851; from Oakhill to Tivoli, 10 miles, the 4th of August, 1851, and on the
3d of Oct., 1851, the entire line from New York to East Albany, 144 miles.
SHARE CAPITAL-Authorized, $4.000,000, in 40,000 $100 shares.
Paid in, $3,772,063.
FUNDED Дввт-$8,842,000: in detail as follows—
1st Mortgage, Registered bonds
$4,000,000
-Of these, $3,890,000 bear seven per cent., and $110,000 six per cent. in-
terest. Of the seven per cents., $1,954,000 were issued 1st Feb., 1849, and
are payable 1st of Feb., 1869; $1,936,000, issued 1st Feb., 1850, payable
1st Feb., 1870. The $110,000 six per cents. were dated 1st August, 1849,
and are payable 1st August, 1869-interest on all the issues payable half
yearly, from their dates, in New York.
2d Mortgage, 7 per cent. Registered bonds
$2,000,000
-dated 16th Dec., 1850, and payable 16th Dec., 1860; interest payable 16th
of June and 16th December.
It is now proposed to extend these bonds until the 16th of June, 1885
new sheets of coupons, covering the period named, to be issued. For the
Digitized by Google
260
NEW YORK-HUDSON RIVER.
retirement of these bonds, the Company have established a Sinking Fund of
$30,000 annually, commencing with Dec. 16th, 1860, to the 16th of Dec.,
1884; the Sinking Fund to be invested in the bonds, (the interest on the
same to be annually paid to the fund,) to be purchased on public tenders for
their sale, but not to be purchased at a greater premium than 5 per cent. If
they cannot be had at this rate, the 1875 bonds to be purchased. The Com-
pany reserve to themselves the right to purchase such bonds of this class as
may be outstanding on the 16th of Dec., 1874, on giving three months no-
tice of such intention, and on the payment of a premium of 5 per cent. be-
yond their par value-the holders also having the right to demand a re-
demption of the bonds at par, at the same date, on giving a similar notice to
the Company.
3d Mortgage, 7 per cent. Registered bonds
$1,840,000
-dated 1st Nov., 1854, and payable 1st May, 1875; interest payable 1st of
May and 1st Nov., in New York.
Convertible, 7 per cent. coupon bonds
$1,002,000
-dated 1st May, 1852, and payable 1st May, 1867 ; interest payable 1st of
May and 1st of Nov., in New York.
The interest on all classes of bonds has been regularly paid.
FLOATING DEBT-$414,654, which includes bills payable and special loans,
etc., payable at various periods.
COST OF ROAD AND EQUIPMENT-$11,388,279 in detail as follows—
1858.
1859.
Graduation and masonry
$5,306,575
$5,351,100
Bridges
262,805
263,205
Superstructure, including iron
2,239,782
2,239,782
Stations, buildings and fixtures, engine and car houses, shops,
machinery, etc
742,152
744,768
Land, land-damages and fences
887,384
899,046
Locomotives and fixtures, and snow ploughs
536,103
536,103
Passenger and baggage cars
265,324
265,323
Freight and other cars
380,946
380,946
Engineering and agencies
707,918
707,996
Total
$11,328,989
$11,388,279
INCOME ACCOUNT FOR THE YEAR ENDING SEPT. 30, 1859.
Receipts-
Disbursements-
Balance of Income 1858
$59,230
Maintenance of road
Passengers
1,079,661
Machinery
Freight
731,821
Cost of fuel
1,078,540
Mails, etc
50,593
General expenses
Paid interest
647,701
Balance of earnings
195,064
Total
$1,921,305
Total
$1,921,305
GENERAL LEDGER BALANCE SHEET, 1ST OcT., 1859.
Dr.
Cr.
Construction, real estate, etc
$11,074,882
Share capital
$3,772,063
Equipment
1,752,817
1st Mortgage Bonds
4,000,000
Fuel and materials
261,244
2d
"
"
2,000,000
Other items
249,065
3d
"
"
1,840,000
Cash on hand
23,623
Convertible
"
1,002,000
Floating Debt
414,654
Unadjusted accounts
137,850
Balance of income account
195,064
Total
$13,361,631
Total
$13,361,631
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NEW YORK-LAKE-ONTARIO, AUBURN AND NEW YORK.
261
Cost OF ROAD, EARNINGS, EXPENSES, ETC., YEARLY.
Cost of
Miles.
Gross Earnings
Operating
Earng's,-Div-
Year.
Road,
&c.
of
Road.
Passen'r.
Freight.
Mails,etc.
Total.
expenses.
less exp.
p.c.
1849
$5,003,675
66.09
$31,037
$46,301
$77,338
$26,093
$51,245
nil
1850*.
6,666,681
74.71
252,595
18,575
6,490
277,660
167,383
110,277
"
1851
9,305,551
143.72
361,654
37,096
6,800
405,549
336,225
69,324
"
1852
10,527,654
143.72
782,396
236,805
44,457
1,063,658
724,876
338,782
"
1853
11,780,954
143.72
935,627
312,004
44,205
1,291,836
918,253
373,583
"
1854
12,391,363
143.72
1,237,307
464,145
52,534
1,753,986
1,298,818
455,168
"
1855
12,737,898
143.72
1,213,970
565,717
32,400
1,812,087
1,208,141
603,946
"
1856+
12,802,527
143.72
1,101,475
724,018
80,217
1,905,710
1,239,573
666,137
"
1857
11,283,019
143.72
1,132,319
716,600
53,908
1,902,827
1,213,947
688,980
"
1858
11,328,989
143.72
1,042,866
544,369
69,177
1,656,412
1,041,773
614,639
"
1859
11,388,279
143.72
1,079,662
712,392
50,582
1,842,626
1,078,530
764,096
"
$115,216,590
1,434.28
9,170,908
4,331,710
487,071
13,989,689
9,253,612
4,736,077
nil.
Aver.
10,474,235
130.39
833,719
393,792
44,278
1,271,789
841,237
430,552
"
LAKE ONTARIO, AUBURN AND NEW YORK RAILROAD.
(Financial year ending 30th September, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
Nathan C. Platt
New York, N.Y.
A. H. Goss
Auburn, N.Y.
Adam W. Spies
"
"
Elmore P. Ross
"
"
Samuel R. Wells
"
"
Adam Miller
New York, "
John C. Kayser
Fordham, "
Richard Steele
"
"
Joseph S. Keen
Philadelphia, Pa.
Lyman Murdock
Venice, "
Charles P. Wood
Auburn, N.Y.
Hiram Tifft
"
"
NATHAN C. PLATT, President and Treasurer
New York, N.Y.
JOHN C. KAYSER, General Agent
"
"
PRINCIPAL OFFICE
Nos. 119 & 121 Nassau street, New York City, N.Y
LENGTH OF Road-Little Sodus Bay to Pugsley's, or
73.84 miles.
Little Sodus Bay to Homer
61.00 "
The Lake Ontario, Auburn and New York Railroad Company was organized
under the General Railroad Law of the State of New York, on the 23d
August, 1852. The construction of the road was commenced in the latter
part of the same year. The Company, however, soon became embarrassed
in its finances, and in the spring of 1855, the road was sold under execu-
tion for the sum of $15,000. The purchaser and his associates formed them-
selves into a new company, under the General Laws of the State, and filed
articles of association on the 23d of May, 1856. The cost of the work done
by the old Company, with the value of the lands purchased, and land-
damages paid, was $392,813, of which $157,442 was expended on that por-
tion of the line between Lake Ontario and Auburn, and $235,371 south of
Auburn.
South of Auburn, the Company are undecided whether to adopt a route
80 as to connect with the Cayuga and Susquehanna Railroad, or with the
Syracuse, Binghamton and New York Railroad.
FUNDED OR FLOATING DEBT-None.
For nine months. t At this date the following are included in cost -Discount on bonds and
commissions, $633,374 interest scrip and interest paid, $742,492; and contingencies, $209.422-
total, $1,585,288. These are omitted in 1857 and subsequent years.
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262
NEW YORK-LAKE ONTARIO AND HUDSON RIVER.
SHARE CAPITAL-Authorized, $1,500,000, in 30,000 $50 shares.
Subscribed, $105,500, in 2,110 $50 shares.
Paid in, $75,771.
GENERAL LEDGER BALANCE SHEET, 1ST OcT., 1859.
Dr.
Cr.
Right of way and road-bed
$15,674
Received on subscription stock
$84,161
Graduation and masonry
45,174
Due contractors in stock
6,688
Salary account
7,152
Due treasurer
1,113
Engineering and engineer's department. 10,182
Expense account, office
1,507
Traveling
2,745
Bills receivable on hand
6,201
General expenses.
3,327
Total
$91,962
Total
$91,962
COST OF ROAD, ETC., YEARLY.
Year ending,
Cost to Old Co.
Year ending,
Cost to New Co.
30 Sept., 1853
$168,842
30 Sept., 1856
$35,872
"
1854
324,856
"
1857
42,566
1 Dec., 1854
392,813
"
1858
74,201
"
1859
85,761
LAKE ONTARIO AND HUDSON RIVER RAILROAD.
(Financial year ending 30th September, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
James S. Libby
New York, N.Y.
George Fowler
New York, N.Y.
E. C. Hamilton
"
"
L. R. Lyon
Lyonsdale, "
Truman Smith
"
"
Benjamin Brandreth
Sing Sing, "
W. C. H. Waddell
"
"
George Tibbetts
Troy, "
Henry Stanton
"
"
John B. Mills
Peekskill, "
F. N. Benedict
"
"
R. Speir
West Milton, "
JOHN R. BRIGGS, President
New York, N.Y.
E. D. SAXTON, Treasurer and Secretary
"
"
PRINCIPAL OFFICE
No. 20 Exchange Place, New York City, N.Y.
LENGTH OF Road-From Sackett's Harbor to Saratoga
182 miles.
The charter of the Lake Ontario and Hudson River (originally the Sackett's
Harbor and Seratoga) Railroad Company was granted on the 10th April,
1848. The Company was first organized on the 19th, and filed articles of
association on the 23d Feb., 1852. The work of construction was commenced
immediately thereafter. but has been suspended for two years past. No por-
tion of the road has been completed. The expenditures have been made
chiefly on the southern portion of the line.
SHARE CAPITAL-Authorized,* $6,000,000, in 60,000 $100 shares.
Subscribed ,t $5,461,100, in 54,611 $100 shares.
Paid in,t $2,715,186.
Land owned by the Company.-The Company owns certain lands lying chiefiy
# Authorized by charter $2,500,000; subsequently increased to $6,000,000 under sanction of Gen
eral Law of 2d April, 1850. t Including 90 per cent. on 24,000 shares, being part of $2,500,000.
consideration allowed to late contractors for the surrender of their contract, and the substitution of
another.
Digitized by Google
NEW YORK-LEBANON SPRINGS.
263
in the counties through which the road runs, to the amount, it is represented,
of 500,000 acres.
FUNDED DEBT-7 per cent. coupon bonds
$4,000,000
-dated 12th Sept., 1854, payable 1st August, 1879 ; interest payable 1st of
Feb. and August, in New York. Of the bonds about $1,000,000 have been
sold, and a portion of the balance hypothecated for the floating debts of the
Company.
The bonds also constitute a mortgage on the lands owned by the Company.
Proceedings have been instituted and are now in progress for the foreclo-
sure of the mortgage.
FLOATING DEBT-Amount not known.
COST OF CONSTRUCTION, KTc.-$3,675,858, including proportion, (charged to
the several accounts), of $2,500,000 allowed to contractors by resolution
of the Board of Directors, for surrender of contract for building and
equipping the road:
Graduation and masonry
$2,231,930
Locomotives, fixtures, snow ploughs
$64,460
Bridging
181,869
Passenger and baggage cars
26,860
Superstructure, including iron
533,580
Freight and baggage cars
87,000
Stations, buildings, etc
51,570
Engineering and agencies
208,490
Land and land-damages
59,377
Interest
154,080
Discount on bonds
86,639
No report has been made of the operations of the Company since 1858.
The condition of the Company has not, in the meantime, materially changed.
LEBANON SPRINGS RAILROAD.
(Financial year ending 30th September, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
John Harper
New York, N.Y.
George Barker
Westchester, N.Y.
S.M. Blatchford
"
"
Moses Y. Tilden
New Lebanon, "
Samuel J. Tilden
"
"
Benj. F. Miles.
Williamstown, Mass.
Russell C. Root
"
"
Sylvanus Carpenter
Stephentown, N.Y.
Samuel H. Cornell
"
"
Samuel Wilbor
Chatham, "
Gouverneur Morris
Morrisania,
"
James L. Stack, Jr
Bennington, Vt.
HENRY S. BLATCHFORD, President
New York, N.Y.
RUSSELL C. ROOT, Treasurer and Secretary
"
"
OFFICE
No. 22 Nassau street, New York City, N.Y.
LENGTH OF ROAD-In New York, Chatham to State Line
22.50 miles.
In Massachusetts
6.00 "
In Vermont, to Bennington
13.50 "
The Lebanon Springs Railroad Company was organized under the general
law of the State of New York, and filed articles of association on the 25th
March, 1852. The construction of the road was commenced the same year,
and suspended in 1854, since which it has not been resumed. The original
charter provided for a road to Lebanon Springs only; but in 1853 the Com-
pany was authorized to extend the road through Massachusetts and Vermont
to Bennington, to form a junction with the Western Vermont Railroad.
SHARE CAPITAL-Authorized, $500,000, in 5,000 $100 shares.
Subscribed, $400,000, in 4,000 $100 shares.
Paid in, $106,728.
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264
NEW YORK-LEWISTON.
FUNDED DEBT-$93,600 1st Mortgage 7 per cent. bonds-issued 1st May,
1853, and due in 20 years; interest payable 1st May and 1st Nov., at
New York. The interest has not been paid for several years past.
FLOATING Девт—$8,602.
COST OF CONSTRUCTION-$324,548 in detail as follows—
Graduation and masonry
$278,480
Land and land-damages
15,961
I
Sundry expenses
$14,659
Suspense account
347
Engineering and agencies
15,101
LEWISTON RAILROAD.
(4 Branch of the New York Central Railroad.)
LENGTH OF RoAD-Niagara Falls to Lewiston
6.25 miles
COST OF ROAD, ETC.-$354,260.
The Lewiston Railroad Company was chartered in 1836, and the first section,
31 miles long, opened for public use in 1837, at a cost of $27,050. It was
worked by horse-power. In 1851 the Company was authorized to extend
the road to a junction with the Buffalo and Niagara Falls Railroad. This
extension was completed in 1854, and the road leased to the New York
Central Railroad Company. In 1855 the Company was consolidated with
the Central, and now forms a part of that line.
LONG ISLAND RAILROAD.
(Financial year ending 30th September, 1859.)
Coffin Colket
Philadelphia, Pa.
Stephen Coulter
Philadelphia, Pa.
Charles Emory
"
"
George L. Willard
Cold Spring, N.Y.
Henry L. Gaw
"
"
Charles J. Smith
Mastic, "
George Neales
"
"
Thos. G. Talmage
Brooklyn, "
Jos. W. Ryerss
"
"
Townsend Jones
Cold Spring, "
Jos. H. Trotter
"
"
Henry W. Titus
Bellport,
"
WILLIAM E. MORRIS, President and Superintendent
Brooklyn, N.Y.
W.S. S. RUSSELL, Treasurer and Secretary
"
"
PRINCIPAL OFFICE
BROOKLYN, Kings Co., N.Y.
MAIN LINE OF ROAD-Jamaica to Greenport
84.00 miles.
Branch Line-Junction to Hempstead
2.50 "
Total length of road owned by Company
86.50 miles.
Leased Road-Brooklyn to Jamaica
11.00 "
Hicksville to Syosset
4.00 "
Total length of road operated by the Company
101.50 miles.
Double Track and sidings
10.08 "
ROLLING STOCK-Locomotive Engines
18
Passenger (S-wheel) cars, 1st class
37
City Passenger (4-wheel) cars
3
Baggage, mail and express (8-wheel) cars
5
Freight (8-wheel) cars
121
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NEW YORK-LONG ISLAND.
265
The Long Island Railroad Company was chartered on the 24th April, 1834.
The construction of the road was commenced in 1835. In 1836 the Com-
pany leased the Brooklyn and Jamaica Railroad, and in the same year was
authorized to construct the Hempstead Branch., The road was opened for
public use in sections, viz. :-From Jamaica to Hicksville, 15 miles, on the
1st March, 1837 to Farmingdale, 20 miles, on the 15th Oct., 1841 ; to Deer
Park, 26 miles, on the 14th March, 1842; to Thompson, 30 miles. on the 24th
June, 1842; to Suffolk, 32 miles, on the 14th July, 1842; to Yaphank, 49
miles, on the 26th June, 1844, and to Greenport, 84 miles, on the 29th July,
1844. In 1845 and 1846 the Company ran steamers across the Sound, 80 as
to form a route to Boston. In 1854 the Hicksville and Cold Spring Branch
Railroad was leased, at an annual rent of 7 per cent. on its value---$45,000,
and has since been operated by this Company. The annual rent of the
Brooklyn and Jamaica Railroad is $33,000.
The Company proposes to change the western portion of its line by a new
road from Jamaica to Hunter's Point, (which is opposite 34th street in the city
of New York). As an inducement to the change certain parties agreed
to relieve the Company of the leases of the Brooklyn and Jamaica Railroad;
the depot grounds at the ferry, and to furnish another route from Jamaica
to the East River, at Hunter's Point; the Company to abandon its present
route from Jamaica to Brooklyn, a distance of 11 miles. The new road is
91 miles long, three-quarters of a mile of the old road west of Jamaica being
sued. For the new road the Company pay in cash $62,000, and seven per
cent. bonds, secured by a mortgage upon it, to the amount of $175,000.
At Hunter's Point, which is outside the limits of the city of Brooklyn, the
Company have sufficient water front for all necessary improvements connect-
ed with the business of the road. The entire improvement here, with the
lands and water front, is estimated to cost $75,000.
SHARE CAPITAL-Authorized and paid in, $3,000,000, in 60,000 $50 shares.
FUNDED DEBT-$636,938 : as follows—
1st Mortgage (State Loan) 5 per cent. coupon bonds
$74,529
-dated 27th July, 1841, and payable 1st August, 1876; interest payable
1st Jan. and 1st July, in New York. The whole issue in this case was
$100,000, of which $25,471 have been retired by the operations of a sinking
fund, to which $1,000 is annually paid to the Comptroller of the State.
2d Mortgage, 6 per cent. coupon bonds
$500,000
-dated 1st Jan., 1850, and due 1st Jan., 1870; interest payable 1st Jan.
and 1st July, at the City Bank, Brooklyn. Of these bonds only $447,000
are outstanding.
Morris Canal Bank, with interest to April, 1859
$42,142
-These bonds have not been paid on account of a controversy as to their
ownership.
Old Bonds past due, but not presented
$19,698
Hempstead Branch Loan
$300
COST OF ROAD AND EQUIPMENT-$2,566,270: in detail as follows-
Graduation and masonry
$687,697
Land, land-damages, etc
$134,527
Bridges
17,295
Locomotive and snow ploughs
161,357
Superstructure, including iron
1,208,853
Passenger and baggage cars, freight
Stations, buildings, and fixtures
15,807
and other cars
193,253
Engine and car houses, machinery, etc. 48,729
Engineering and agencies
98,750
34
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266
NEW YORK-MOHAWK VALLEY.
INCOME ACCOUNT FOR THE YEAR ENDING 30TH SEPT., 1859.
Receipts-
Disbursements-
Passengers
$192,847
Operating expenses, rents, etc.
$228,486
Freight
127,662
Equipment
7,565
Mails
13,686
Interest, $33,849; Sinking Fund, $1,000.
31,849
Real Estate at Hunter's Point
10,650
Balance to profit and loss
52,645
Total
$334,195
Total
$334,195
GENERAL LEDGER BALANCE SHEET, 30TH SEPT., 1859.
Dr.
Cr.
Construction
$2,566,270
Share capital
$3,000,000
Discount on stock sold
1,047,285
State Loan
74,529
Shares held by Company
100,000
Morris Canal Loan
42,142
Bonds of 1850
53,000
Loan of 1850
500,000
Ferry Fund
17,491
Old bonds past due
19,968
Loans
60,560
Balance of earnings
260,506
Other items
3,056
Cash balance, 1st April, 1859
57,410
Total
$3,905,072
Total
$3,905,072
The Company publish no balance sheet. The above is compiled from the
late reports published by the Company. It probably only approximately re-
presents the financial condition of the Company, as no statements published
by it accounts for the net earnings for several years.
COST, EARNINGS, EXPENSES, ETC., YEARLY.
Mile-
Gross Earnings
Ex-
Net
Div.
Year.
Cost.
age.
Pass'ger.
Freight.
Mails.
Total.
penses.
Earnings.
p.c.
1844
$1,610,221
95 00
$143,301
$10,155
$
$153,456
$94,460
858,996
nil.
1845
1,753,046
97.25
147,650
19,675
172,909
340,234
300,264
39,970
"
1846
1,759,502
97.25
142,080
24,974
128,673
295,727
351,504
(Loss.)
"
1847
2,027,991
97.25
114,647
37,169
6,889
158,705
142,220
16,485
"
1848
2,037,639
97.25
108,954
43,317
5,817
158,088
136,006
22,082
"
1849
2,091,812
97.25
108,823
44,881
7,611
161,315
174,631
(Loss.)
"
1850
2,191,812
97.25
126,667
52,899
4,966
184,532
174,631
9,901
"
1851
2,339,938
97.25
132,289
56,486
4,531
193,306
142,867
50,439
of
1852
2,446,391
97.25
142,740
57,998
4,326
205,064
186,074
18,990
"
1853
2,478,010
97.25
159,540
64,846
4,284
228,670
210,314
18,353
"
1854
2,518,261
101.25
187,671
85,176
23,106
295,953
210,354
85,599
"
1855
2,555,986
101.25
188,981
103,585
9,233
301,799
224,841
76,958
"
1856
2,555,986
101.25
189,034
102,644
8,433
300,111
248,373
51,738
"
1857
2,565,792
101.25
195,083
116,177
12,409
323,669
244,357
79,312
"
1858
2,566,270
101.25
185,197
121,064
14,327
320,588
213,074
107,514
"
1859
2,566,270
101.25
192,847
127,662
13,686
334,195
228,486
105,709
"
$36,064,927
1,577.75
2,465,504
1,068,706
421,200
3,955,410
3,282,456
672,956
nil.
Aver.
2,254,058
98.60
154,094
66,794
26,325
247,213
205,153
42,060
"
MOHAWK VALLEY RAILROAD.
SHARE CAPITAL-Subscribed and paid, $1,575,000.
The Mohawk Valley Railroad Company was organized under the General
Railroad Law of the State of New York, and filed articles of association on
the 21st of Jan., 1851; and again on the 28th of Dec., 1852. The Com-
pany proposed to construct a railroad on the south bank of the Mohawk
River, between Utica and Schenectady. No portion of the road was ever
constructed, and in 1853, the Company became merged in the New York
Central, the share capital being paid, by agreement, to that Company.-(See
New York Central Railroad.)
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NEW YORK CITY-EIGTH AVENUE.
267
NEW YORK CITY PASSENGER RAILROADS.
EIGHTH AVENUE RAILROAD.
(Financial year ending 30th September, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
Oliver Charlick,
Jacub Hays,
Frank T. Hays,
William H. Hays,
George Batterman,
John S. Hunt,
Ed. B. St. John,
James Murphy,
Ed. Vinant,
Benjamin Nathan,
Timothy Townsond,
Timothy Davis.
GEORGE Law, President.-JoHN S. HUNT, Treasurer. -OLIVER CHARLICK, Supt.
PRINCIPAL OFFICE
Eighth Avenue, cor. 49th street, NEW YORK CITY, N.Y.
LENGTH OF RoAD-Veseystreet to 59th street
4.89 miles.
Branch Line in Canal street
0.20
"
Second track, 4.89 miles. Sidings, turnouts, etc., 0.75 miles.
ROLLING STOCK-1st class passenger cars.
82
The Eighth Avenue Railroad Company was organized under the general law,
and filed articles of association on the 10th January, 1855. The road was
constructed in 1854, and came into the hands of the present company 1st
January, 1855. Since 1856 the Company has not given the items that
make the total cost of its investment. In the report of that year they
were stated as follows:
Railroad track, (4.89 miles)
$471,000
Real estate
$200,924
Cars, (50)
48,800
Horses and harness
77,500
Total
801,924
SHARE CAPITAL-Authorized, $800,000, in $8,000 $100 shares. (All paid.)
COST OF ROAD AND EQUIPMENT-$769,550 : in detail as follows—
Graduation, masonry, superstructure, iron, etc
$484,700
Stations, buildings, machinery,' and fixtures
227.013
Passenger cars, horses, harness, etc., etc
57,837
INCOME ACCOUNT FOR THE YEAR ENDING 30TH SEPTEMBER, 1859.
Receipts-
Disbursemento-
Passenger earnings
$379,500
Operating expenses
$252,871
Dividends 13 per cent
104,000
Sarplus earnings
22,629
Total
$379,500
Total
$379,500
GENERAL STATEMENT, 1ST OCTOBER, 1859.
Dr.
Cr.
Cost of road
$484,740
Share capital
$800,000
Stations, buildings, and fixtures
227,013
Accumulated earnings, being the dif-
Passenger cars
57,837
ference between the net earnings
Other investments
241,672
and dividends
211,222
Total
1,011,222
Total
1,011,222
COST, EARNINGS, EXPENSES, ETC., YEARLY.
Cost.
Mile-
Pass'gers.
Miles run
Gross
Operating
Earnings,
-Div.-
Year.
of Road.
age.
Carried.
by Cars.
Earnings.
Expenses.
less exp.
$
p.c.
1855
$801,924
5.09
4.311,676
655,000
$215,584
$132,592
$82,992
$44,109
6
1856
801,924
5.09
6,097,299
1,022,000
304.865
174,890
129,975
96,000
12
1857
730,924
5.09
6,829,452
1,023,157
341,472
194,383
147,089
96,000
12
1858
756,143
5.09
6,768,203
1,028,142
338,400
177,754
160,646
96,000
12
1859
769,550
5.09
7,589,997
1,095,080
379,500
252,871
126,629
104,000.
18
5 yrs
3,860,465
25.45
31,596,727
4,823,379
1,579,821
932,490
647,331
436,109
Aver..
772,093
5.09
6,319,325
964,676
315,964
186,498
129,466
87,222
11
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268
NEW YORK CITY-SECOND AVENUE.
FOURTH AVENUE RAILROAD.
(See New York and Harlem Railroad.)
NINTH AVENUE RAILROAD.
(Financial year ending 30th September, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
Wm. H. Hays,
Paul K. Spofford,
John Pettigrew,
John S. Hunt,
Jacob Hays,
Samuel Gage, Jr.,
E. B. St. John,
William Radford,
James Murphy,
Benj. Nathan,
Fred. T. Hayes,
Wm. Searls.
GEORGE LAW, President
New York City, N.Y.
W. H. Hays, Treasurer
"
"
RICHARD REYNOLDS, Superintendent
"
"
PRINCIPAL OFFICE
NEW YORK CITY, N.Y
LENGTH OF ROAD-Vesey street to 49th street
3.50 miles.
Second track, 3.50 miles. Sidings. turnouts, etc., 0.20 mile.
ROLLING STOCK-Passenger cars, 1st class
28
The Ninth Avenue Railroad Company was organized under the general law,
and filed articles of association on the 29th July, 1859. The road was con-
structed under a grant from the City Corporation by a private co-partnership,
and purchased by the existing Company on the 30th July, 1859, for the sum
of $712,446. This purchase included also the franchise covering the whole
distance of the route contemplated to the Harlem River, about 13 miles, and
real estate valued at $328,446. By an act of the State Legislature, approved
April, 1860, the franchise granted by the city authorities was confirmed.
SHARE CAPITAL-Authorized, $800,000, in 8,000 $100 shares.
Paid in, - 795,360, on
"
"
CosT OF ROAD AND EQUIPMENT, $362,694 as follows—
Cost of road
$341,194 I Cost of cars
$11,500
INCOME ACCOUNT FOR THE YEAR ENDING 31st DECEMBER, 1859.
Receipts-
Disbursemento-
Passenger earnings
$8,522
Operating expenses
$5,088
Surplus income
3,434
Total
$8,522
Total
$8,522
SECOND AVENUE RAILROAD.
(Financial year ending 30th September, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
D. M. Hughes,
Sidney Mason,
Julius Wadsworth,
John O'Brien,
M. J. Shelden,
Cornelius McCoon,
Henry Hendricks,
Thomas Crane,
Waldo Hutchins,
George Bell,
W. V. R. Arnold,
Charles Miller.
D. M. HUGHES, President.
New York City, N.Y.
JOHN O'BRIEN, Treasurer
"
"
E.S. DICKINSON, Superintendent.
"
"
PRINCIPAL OFFICE
Second Avenue, cor. 42d street, NEW YORK CITY, N.Y.
LENGTH OF ROAD-Peck Slip to Harlem
8 miles.
Second track, 8 miles. Sidings, turnouts, etc., about 1 mile.
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NEW YORK CITY-SIXTH AVENUE.
269
ROLLING STOCK-Passenger (4-wheel) cars, 1st class, 71. Horses, 151.
The Second Avenue Railroad Company was organized under the general law,
and filed articles of association on the 21st January, 1853. In August of
the same year the road was completed for a length of 3.76 miles, and in the
next succeeding year the whole line was brought into use.
SHARE CAPITAL-Authorized, $800,000, in 8,000 $100 shs.: paid in, $627,200.
FUNDED Дввт—$350,000; described as follows—
1st Mortgage, 7 per cent., coupon bonds
$350,000
-dated 1st December, 1857, and payable, principal in 10 years, and coupons
semi-annually, 1st June and 1st December, in New York City.
COST OF ROAD AND EQUIPMENT-$1,051,853 : in detail as follows—
Graduation, superstructure, iron, etc.
$878,186
Snow-plows, wagons, trucks, etc
$3,700
Stations, buildings and fixtures
27,587
Passenger cars
47,500
Land, damages, etc
36,393
Horses
58,487
INCOME ACCOUNT FOR THE YEAR ENDING 30TH SEPTEMBER, 1859.
Receipts-
Disbursements-
Passenger earnings
$259,101
Operating expenses
$180,644
Other receipts
3,065
Interest
24,500
Dividend (8 per cent.)
51,544
Surplus earnings.
5,478
Total
$262,166
Total
$262,166
GENERAL STATEMENT, 1ST OcToBeB, 1859.
Dr.
Cr.
Cost of road and equipment
$1,051,853
Share Capital
$627,200
Funded Debt
350,000
Floating Debt
18,000
Earnings invested
56,653
Total
$1,051,853
Total
$1,051,853
Cost, EARNINGS, EXPENSES, ETC., YEARLY.*
Cost of
Mile-
Pass'ers.
Gross Earnings
Operating
Earnings,
-Div.-
Year.
Road, etc.
age.
Carried. Passengers.
Other.
Total.
expenses.
less exp.
$
pc.
1853
$264,340
3.76
354,000
$17,625
$17,625
$12,099
$5,526
nil.
nil
1854
327,556
8.00
2,500,000
125,901
125,901
103,534
22,367
6,300
21
1855
426,323
8.00
3,547,660
172,383
2,500
174,883
174,883
nil.
19,000
8
1856
903,364
8.00
3,367,371
168,368
516
168,884
168,884
"
nil.
nil.
1857
954,383
8.00
3,936,008
196,800
196,800
196,800
"
"
"
1858
1,005,403
8.00
4,504,645
225,232
2,225
227,457
171,800
55,657
12,544
2
1859
1,051,853
8.00
5,182,011
259,101
3,065
262,166
180,644
81,522
51,544
8
4,933,222
51.76
23,391,695
1,165,410
8,306
1,173,716
1,008,644
165,072
89,388
Average. 704,746
7.39
3,898,616
194,235
1,384
195,619
168,107
27,512
14.781
31
SIXTH AVENUE RAILROAD.
(Financial year ending 30th Scptember, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
A. G Jones,
George R. Howell,
John Q. Jones,
Richard Mortimer,
John B. Hall,
Saml. S. Bowman,
William H. Macy, ,
F. A. Livingston,
Fred. De Puyster,
Waldo Hutchins,
Chas. H. Marshall
Lorillard Spencer.
SIDNEY MASON, President -Gro. G. WILLIAMS, Treasurer WILLIAM EBBiTT, Supt.
PRINCIPAL OFFICE
Sixth Avenue, cor. 44th street, NEW YORK CITY, N.Y.
Estimated for 1857. In 1855, 6 and 7 the expenses are estimated.
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270
NEW YORK CITY-THIRD AVENUE.
LENOTH OF Road-Broadway and Vesey street to 49th street
4 miles.
Second track, 4 miles. Sidings, turnouts, etc., 0.38 mile.
ROLLING STOCK-Passenger cars, two-horse, 44 and one-horse, 34
78
Horses, 330, and mules, 140-total. 470.
The Sixth Avenue Railroad Company was organized under the general law,
and filed articles of association on the 29th December, 1851. The road was
completed and opened for public use to 44th street, 3.75 miles, on the 19th
August, 1852, and to its present terminus in March, 1856.
SHARE CAPITAL-Authorized and paid in, $750,000, in 7,500 $100 shares.
COST OF ROAD AND EQUIPMENT-$877,336 : in detail as follows-
Graduation and masonry, paving streets, superstructure, etc
$559,631
Stations, car houses, machine shops, machinery and fixtures
166,931
Passenger cars.
62,807
Horses, mules, harness, etc
87,967
INCOME ACCOUNT FOR THE YEAR ENDING 30TH SEPTEMBER, 1859.
Receipts-
Disbursements-
Passenger earnings
$323,956
Transportation expenses.
$216,685
Dividends, 12 per cent.
90,000
Surplusfund
17,271
Total
$323,956
Total
$323,956
GENERAL STATEMENT, 1ST OCTOBER, 1859.
Dr.
Cr.
Graduation, Superstructure, etc
$559,631
Share Capital
$750 000
Stations, Buildings, Shops, etc
166,931
Earnings invested
127,336
Passenger Cars
62,807
Horses, Mules, etc
87,967
Total
$877,336
Total
$877,336
COST OF EARNINGS, EXPENSES, ETc., YEARLY.
Cost of
Mile-
Miles run
Passengers
Gross
Operating Earnings
-Divid-
Year.
Road, &c.
age.
by Cars.
Carried.
Earnings.
Expenses.
less exp.
Am't.
p.c.
1853
$757,644
3.75
871,255
5,120,500
$233.551
$157,465
$76,086
$52,500
7
1854
774,560
3.75
871,255
5,195,581
248,861
180,840
68,021
52,500
7
1855
786,657
3.75
871,255
4,237,583
212,456
165,234
47,222
26,250
31
1856
823,654
4.00
889,505
4,757,108
237,855
150,731
77,124
67,500
9
1857
855.957
400
950,572
5,240,978
262,049
162,060
99,989
75,000
10
1858
855,959
4.00
950,572
5,612,357
280.618
778,226
102,392
75,000
10
1859
877,336
4.00
1,433,000
6,479,127
323,956
216,685
107,271
90,000
12
7 Y'rs.
$5,731,765
27.25
6,837,414
36,642,736
$1,799,346
$1,221,241
$578,105
$438,750
818,823
3.89
976,773
5,234,677
257,049
174,463
82,586
62,678
81
THIRD AVENUE RAILROAD.
(Financial year ending 30th September, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
William Remsen,
William H. Webb,
Maltby G. Lane,
Henry R. Remsen,
George G. Waters,
Peter McMartin,
Henry Hart,
Clarkson N. Potter,
Jobn B. Hobby,
Samuel Jaudon,
Wilson G. Hunt,
Wm. J. Valentine,
WM. A. DARLING, President.SAML. B. ISAACS, Secretary.-WM. H. SCHENCK, Supt.
PRINCIPAL OFFICE THIRD AVENUE, bet. 65th and 66th st,, NEW YORK CITY, N.Y.
LENGTH OF RoAD-Astor House to Harlem
7.95 miles.
Second track, 7.95 miles. Sidings, etc., 0.56 mile.
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NEW YORK CITY -THIRD AVENUE.
271
ROLLING STOCK-1st class passenger cars, 95 ; freight cars, 2
97
The Third Avenue Railroad Company was organized under the general law,
and filed articles of association on the 8th October, 1853. The road was
built from the Astor House to 86th street, a distance of 5.87 miles, by a
private co-partnership, under a grant from the Corporation, dated 1st Jan.,
1853, and was sold to the present Company in October, 1853, for
$1,170,000. In 1859 the road was extended from 86th street to Harlem.
SHARE CAPITAL-Authorized, $1,170,000, in 11,700 $100 shares. (All paid.)
FUNDED DEBT-110,600: described as follows—
1st Mortgage, 7 per cent., coupon bonds
$50,000
-dated 1st January, 1855, and payable, principal 1st January, 1870, and
coupons semi-annually, 1st January and 1st July, at New York.
Real Estate Mortgage
$60,600
Cost OF ROAD AND EQUIPMENT-$1,564,098 : in detail as follows—
Cost to present company
$1,170,000
Passenger cars, etc
$24,856
Stations, buildings, land, etc
239,116
Horses and harness
37,595
Iron pavement.
3,372
Extension to Yorkville and Harlem
89,159
INCOME ACCOUNT FOR THE YEAR ENDING 30TH SEPTEMBER, 1859.
Receipts-
Disbursements-
Passenger earnings
$498,705
Transportation
$307,188
Other sources
4,246
Taxes.
12,786
Interest
5,994
Dividend, (10 per cent.)
117,000
Amount to Surplus Fund
59,983
Total
$502,951
Total
$502,951
PROFIT AND Loss ACCOUNT, 1ST OCTOBER, 1859.
Surplus from 1857-8
$16,887
Loans
$20,000
Surplus from 1858-9
59,983
Harlem Extension
27,266
Bond and mortgage
40,000
Real Estate
48,670
Miscellaneous
5001
New Cars, etc
6,856
Iron pavement
3,372
Surplus Fund
15,707
Total
$121,871
Total
$121,871
GENERAL STATEMENT, 1ST OCTOBER, 1859.
Dr.
Cr.
Cost of Road, etc. to this company $1,170,000
Share Capital
$1,170,000
Additional Expenditures on road and
Bonded Debt
:
50.000
Equipment
394 098
Real Estate Mortgage Debt
60,600
Floating Debt
25,000
Earnings expended in construction
258,498
Total
$1,564,098
Total
$1,564,098
COST, EARNINGS, EXPENSES, ETC., YEARLY.
Yr.
Cost of
Mile-
Miles run
Pass'gers
Gross Earnings-
Operating Earnings,
Div
Road, etc.
age.
by Cars.
Carrried.
Pass'gers.
Total.
Expenses. less exp.
$
p.c.
'55
$1,170,000
5.87
923,076
5,770,078
$290,096
$292,476
$217,838
$74,638
nil.
nil.
'56
1,170,000
5.87
1,325,350
7,131,881
356,594
367,428
255,706
111,722
70,200
6
'57
1,170,000
5.87
1,325,350
8,105,515
405,278
419,029
263,692
155,337
93,600
8
'58
1,378,090
5.87
1,460,000
7,945,462
397,273
403,055
242,811
160,244
93,600
8
'59
1,564,098
7.95
1,825,000
9,974,101
498,705
502,951
307,188
195,763
117,000
10
5
Yrs.
6,452,188
31.43
6,849,776
38,927,037
1,947,946
1,984,939
1,287,235
697,704
374,400
Ave.
1,290,434
6.28
1,369,955
7,785,407
389,589
396,987
257,447
139,540
74,880
6.4
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272
NEW YORK-NEW YORK CENTRAL.
NEW YORK CENTRAL RAILROAD.
(Financial year ending 30th September, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
Dean Richmond (V. Pres.) Buffalo, N.Y.
John L. Schoolcraft
Albany N.Y.
John H. Chedell
Auburn, "
Isaac Townsend
New York, "
Horace White
Syracuse, "
Livingston Spraker
Palatine Bridge, "
Alonzo C. Paige
Schenectady, "
Jacob Gould
Rochester, "
Nathanial Thayer
Boston, Mass.
Cornelius L. Tracy
Troy, "
John V.L. Pruyn
Albany, N.Y.
Charles H. Russell
New York, "
ERASTUS CORNING, President
Albany, N.Y.
JOHN V. L. PRUYN, General Counsel and President pro tem
"
"
GILBERT L. WILSON. Treasurer and Secretary
"
"
CHAUNCEY VIBBARD, General Superintendent
"
"
GEORGE E. GRAY, Chief Engineer
"
"
S. DRULLARD, General Freight Agent
"
"
PRINCIPAL OFFICE
ALBANY, Albany Co., N.Y.
LENGTH OF ROAD-647 miles, as follows-
Albany to Buffalo
298 miles.
Canandaigua to Suspension Bridge
91 miles.
Troy to Schenectady
21
"
Syracuse to Rochester, via Auburn
104
"
Total length of line
647 miles.
Batavia to Attica
11
"
Length of second track
231
Rochester to Suspension Bridge
75
"
Length of sidings, etc
113
Lockport to Tonawanda
12 "
344 "
Buffalo to Lewiston
28 "
Rochester to Charlotte
7 "
Total length of track laid
991 miles.
ROLLING STocK-Locomotive engines
211
Passenger (8-wheel) cars, 1st class, 196 Passenger (8-wheel) cars, 2d
class, 41 ; Baggage, mail, express (8-wheel) cars, 61 Freight (8-wheel) cars,
2,760 gravel and other service cars, 350
3,408
The New York Central Railroad Company was organized under a law of the
State of New York, passed April 2, 1853, whereby certain railroad companies
were authorized to consolidate themselves into one company, to be called the
New York Central Railroad Company-viz. the Albany and Schenectady;
Schenectady and Troy; Utica and Schenectady; Syracuse and Utica; Syra-
cuse and Utica Direct; Rochester and Syracuse; Buffalo and Lockport; Mo
hawk Valley; Rochester, Lockport and Niagara Falls, and Buffalo and
Rochester. The articles of agreement required by the act of incorporation
were entered into 17th of May, 1853. The first Board of Directors was
chosen, and the Company fully organized on the 6th of July, 1853. Until
the 1st of August, however, the several roads continued under the manage-
ment of the old companies, which received the earnings of their several lines
to that date. In addition to the roads named, the new Company acquired
by consolidation, the line from Rochester to Charlotte, 7 miles, in 1853; the
line from Buffalo to Lewiston, 28 miles, in 1855; and, by lease, in perpetuity,
on the payment, annually, of $60,000, of the Canandaigua and Niagara Bridge
Railroad, 91 miles, in July, 1858.
CAPITAL STOCK-(Paid in) $24,000,000.
The Capital Stock of the original companies was $22,858,600-viz.
Albany and Schenectady
$1,535,800
Rochester to Syracuse
$5,606,700
Schenectady and Troy
650,000
Rochester, Lockport & Niagara Falls
2,016,100
Utica and Schenectady
4,500,000
Buffalo and Rochester
3,000,000
Mohawk Valley
1,575,000
Buffalo and Lockport.
675,000
Syracuse and Utica
2,700,000
Syracuse and Utica Direct
600,000
Total
$22,858,600
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NEW YORK-NEW YORK CENTRAL.
273
This amount was increased to $23,067,400 by the conversion of outstand-
ing Convertible Bonds of several of the companies to the amount of $208,800.
The Capital Stock was further increased by the addition of the Share Capital
of the Buffalo and Niagara Railroad Company, $565,000; of the Lewiston
Railroad Company, $217,600, and the Rochester and Charlotte Company,
$150,000, these several companies having consolidated with the Central. The
annual statements of the Company have differed somewhat, for the reason
that all the outstanding Convertible Bonds ($227,000) were in 1853 and '4
put down as stock, whereas bonds to the amount of $18,200 were not con-
verted; and $182,400 of the stock of the Lewiston Railroad Company was
retired the past year by the issue of an equal amount of bonds. These state-
ments account for the changes in the amount of stock represented as an-
nually outstanding in the tabular statement given herewith.
FUNDED DEBT-$14,333,771: in detail as follows—
Seven per cent. coupon bonds
$3,000,000
-dated 15th June, 1854; due in 10 years; interest payable semi-annually,
15th June and 15th Dec., in New York.
Six per cent coupon Debt Certificates or Premium Bonds
$7,925,000
-dated 1st Aug., 1853, and payable 1st May, 1883 ; interest semi-annually,
in New York.
The Debt Certificates were issued to the stockholders on the old lines, being
the estimated value of their stock above par. This excess of value was
rated in the articles of consolidation as follows
Stock and Convertible
Rate of
Amount of
Bonds outstanding.
Premium.
Premium.
Albany and Schenectady
$1,621,800
17
$275,706
Utica and Schenectady
4,500,000
55
2,475,000
Mohawk Valley
1,575,000
55
866,250
Syracuse and Utica
2,700,000
50
1,350,000
Syracuse and Utica Direct
600,000
50
300,000
Rochester and Syracuse
5,608,700
30
1,682.610
Rochester, Lockport and Niagara Falls
2,155,100
25
538,684
Buffalo to Lockport
675,000
25
168,750
Buffalo to Rochester
3,000,000
40
1,200,009
Rochester and Lake Ontario
150,000
25
37,500
Schenectady and Troy
650,000
$23,235,600
$8,894,500
The Rochester and Lake Ontario had an agreement with the Rochester,
Lockport and Niagara Falls Railroad for consolidating on equal terms, the
stock of the two companies. It consequently was put on the same footing.
No premium was allowed to the Troy and Schenectady. Of these bonds
$967,600 have been retired by the operations of the sinking funds. The
whole amount issued was $8,892,600.
Seven per cent. coupon bonds for funding the debts of the old companies $1,225,000
-dated 1st Aug., 1856; payable 1st Aug., 1876; interest payable 1st Aug.
and 1st Feb., in New York.
The articles of consolidation provided that the new Company should as-
sume the debts of the old companies. After consolidation, these bonds were
paid by the new company to the above amount, which has since been realized
by the issue of the bonds last described.
Six per cent. coupon bonds, issued in payment of stock held by several of the
old companies in other roads
$770,000
35
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274
NEW YORK-NEW YORK CENTRAL.
At the date of the consolidation several of the companies held stock in the
following roads :
Great W. Buffalo &
Great W. Buffalo &
of Canada. State Line.
of Canada. State Line.
Albany and Schenectady
$25,000
$
Rochester and Syracuse
125,000
105,000
Utica and Schenectady
200,000
Buffalo and Rochester
94,950
Syracuse and Utica
75,000
62,300
Rochester, Lockport and
Niagara Falls
$68,500
$493,500
$262,250
The Consolidated Company agreed to purchase this stock either in cash,
or in bonds, to be dated 1st May, 1853, payable in 30 years; interest pay-
able in New York. The stock of the Great Western Railroad Company
was taken at par, with interest from 1st May, 1853, and that of the Buffalo
and State Line at a premium of 20 per cent., with interest from the 13th of
April, 1853. The whole amount of bonds issued for this purpose was
$817,000, of which $47,000, have been retired.
The debts of old companies outstanding, $637,737, viz.
Albany and Schenectady Railroad Company.
-Bond to the Mayor, etc., of Albany, payable 1st July, 1864 ; in-
terest at 5 per cent., payable 1st Jan. and 1st July, at Albany
$125,000
-Bond of the Company, payable 15th July, 1860; interest at 7 per
cent per annum
1,000
Schenectady and Troy Railroad Company.
-State Stock, payable 1st July, 1868; interest at 6 per cent., pay-
able 1st Jan. and 1st July, at New York
100,000
Rochester and Syracuse Railroad Company.
-State Stock, issued to Auburn and Rochester Company, $100,000
payable 1st Aug., 1860, and $100,000 the 1st Jan. ; interest 51 per
cent., payable 1st Jan. and 1st July, at New York
65,669
Buffalo and Rochester Railroad Company.
-State Stock, issued to Tonawanda Company, due 1st July, 1865 ;
interest 51 per cent., payable 1st Jan. and 1st July, at New York. 51,067
Rochester, Lockport and Niagará Falls Railroad Company.
-Bonds of the Company, dated 1st Aug., 1851, and payable 1st of
Aug., 1861; interest 7 per cent., payable 1st Feb. and 1st Aug., at
New York
295,000
Bonds of the Buffalo and Niagara Falls Railroad Company, as-
sumed by the company under the lease between the two com-
panies, viz. :
Bonds payable 1st Oct., 1864; interest at 7 per cent., payable 1st
Jan. and 1st July, at New York
45,000
Bonds issued to the stockholders of the Buffalo and Niagara
Falls Railroad Company, under the agreement before referred to,
dated 1st Feb., 1854, and due 1st May, 1883; interest at 6 per cent.,
from 1st July, 1853, payable 1st May and 1st Nov., at New York.
90,000
Bonds issued at various times, for the purchase of real estate, due
1st May, 1883 interest at 6 per cent., payable 1st May and 1st
Nov., at New York
195,000
Bonds and mortgages, some existing before consolidation, assumed
and given for part consideration of real estate purchased, payable
at various times up to 1866; interest at 6 and 7 per cent
254,033
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NEW YORK-NEW YORK CENTRAL.
275
Bond issued to New York, Albany and Buffalo Telegraph Com-
pany, dated 2d July, 1855, and due 1st May, 1860; interest at 6 per
cent., from 1st May, 1855, payable 1st May and 1st Nov., at the
Company's office
$10,000
FLOATING DEBT-None.
The following comparative statement will show the amount of the funded
debt, and capital stock of the Company as they were on the 30th of Sept.,
1853, 1854, 1855, 1856, 1857, 1858 and 1859:
1853.
1854.
1855.
1856.
1857.
1858.
1859.
Debt Certificates
$8,894,500
$8,769,900
$8,581,600
$8,422,600
$8,260,600
$8,100,000
$7,925,000
1st Mort. Bonds loan
380,681
3,000,000
8,000,000
3,000,000
3,000,000
3,000,000
Debts of old Co's
1,861,823
1,368,000
1,214,259
1,052,963
880,753
657,682
637,737
Bonds for debts of old
companies
881,000
899,000
1,256,000
1,225,000
Bonds for RR. stocks.
817,000
817,000
817,000
$12,000
807,000
785,000
770,000
Bonds for real estate
218,000
230,000
221,000
204,000
200,000
195,000
Bda. to B. & N. F. RR
110,800
110,800
103,100
93,500
93,000
90,000
Bds. of B. &N. F. RR
55 000
55,000
55,000
55,000
46,000
45,000
Bond to Tel. Co.
10,000
10,000
10,000
10,000
10,000
Bonds and mortgages
208,109
199,383
286,234
265,657
254,952
254,034
Convertible bonds
182,000
Debts of former Com-
panies, paid, & again
funded
493,828
648,216
508,853
656,063
2,183
Total Funded Debt
$11,573,323
$12,421,313
$14,866,258
$14,802,750
$14,631,573
$14,404,767
$14,338,771
Capital Stock
23,085,600
28,067,415
24,136,600
24,136,660
24,136,660
24,182,400
24,000,000
Total amount
$34,658,923
$35,488,728
$39,002,858
$38,939,410
$38,768,283
$38,587,167
$38,388,771
SINKING FUNDS.
The articles of consolidation provided for a Sinking Fund, for the retire-
ment of the Debt Certificates, by the annual payment thereto of a sum equal
to one and a quarter per cent. of the amount issued. The whole amount
retired by the operations of this fund up to the 1st Oct. last, was $967,600,
leaving $7,925,000 outstanding. A sinking fund was also provided in 1856,
(by the payment thereto of a sum equal to two per cent. of their amount for
a period of seven years, and three and a half per cent. thereafter), applicable
to the following class of securities, viz.: Bonds issued to the stockholders of
the Buffalo and Niagara Falls Railroad Company; Bonds given for the pur-
chase of real estate; Bonds issued for stock held by old companies in other
roads, and Bonds for refunding the debts of the old companies.
The amounts of these Sinking Funds on the 1st day of Oct. last were
$194,800, as follows:
Bds. to stockholders of B. & N. F. RR
$20,800
Stock Subscription bonds
$47,000
Real Estate bonds
50,000
Bonds for debts of old companies
77,000
The loan by the State to the old Auburn and Rochester Railroad Company
provided for a Sinking Fund of two per cent. of the amount, to be annually
paid to the Comptroller of the State. The amount of this fund on the 1st
day of October last was $134,331, leaving $65,669 outstanding.
The loan by the State to the Tonawanda Railroad Company provided for a
Sinking Fund of one and a half per cent. on the amount to be annually paid
to the Comptroller of the State. The amount of this Sinking Fund on the
1st day of Oct. last was $48,933, leaving $51,067 outstanding.
The Sinking Fund applicable to the Debt Certificates and to the Bonds.
issued to the stockholders of the Buffalo and Niagara Falls Railroad Com
pany are charges upon the net earnings of the road. The other Sinking
funds may be paid from earnings, or new loans, at the option of the Company.
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276
NEW YORK-NEW YORK CENTRAL.
No portions of the Mohawk Valley, or the Syracuse and Utica Direct
Railroads were ever constructed.
The Canandaigua and Niagara Bridge Branch was originally constructed
with a wide, or six feet gauge. This has been changed to a gauge of four
feet eight and a half inches, so as to correspond with that of the Central road.
The road has a double track on its main line from Albany to Rochester.
The value of materials on hand, on the 30th Sept., for maintaining and
operating the road was $1,286,706.
COST OF ROAD AND EQUIPMENT-$30,840,718 in detail as follows—
1858.
1859.
Graduation and masonry
$6,777,106
$6,777,106
Bridges
808,068
608,068
Superstructure, including iron
10,156,196
10,213,199
Stations, buildings and fixtures
1,171,694
1,174,964
Engine and car houses, shops, machinery, etc
756,866
770,007
Land, land-damages, etc
3,993,058
4,027,844
Locomotives and snow ploughs
2,351,466
2,351,466
Passenger and baggage cars
851,128
851,127
Freight and other cars
2,054,483
2,054,483
Engineering and agencies
603,529
603,52S
Construction account of-
Rochester and Lake Ontario Railroad
150,000
150,000
Buffalo and Niagara Falls Railroad
658,923
658,291
Lewiston Railroad
400,000
400,000
Total
$30,732,517
$30,840,713
INCOME ACCOUNT FOR THE YEAR ENDING 30TH SEPT., 1859.
Receipts-
Disbursements-
Balance, Sept. 30, 1858
$1,594,326
Expenses of maintaining road, etc..
$3,349,429
Passenger traffic
2,566,370
Coupons and interest
970,060
Freight traffic
3,337,148
Div. No. 11, Feb., 1859, 4 per cent
959,782
Mail service
95,765
Div. No. 12, Aug., 1859, 3 per cent.
720,000
Miscellaneous
201,566
Contribution to Sinking Funds—
Debt Certificates
$114,103
Bds. to Buf. & Nia. Falls RR. 116,754
Rent of Nia. Bridge & Canand's RR.
60,000
Balance, Sept. 30, 1859
1,619,150
Total
$7,795,175
Total
$7,795,175
GENERAL LEDGER BALANCE SHEET, 30TH SEPT., 1859.
Dr.
Cr.
Railroad and Equipment
$30,840,714
Capital Stock
$24,000.000
Cash in banks
76,500
Albany and Schenectady RR, Co..
126,000
Passenger and freight Agents ba-
Schenectady and Troy RR. Co
100,000
lances, since remitted
413,663
Rochester and Syracuse RR. Co
65,669
Buffalo and State Line RR. Co. Stk.
557,800
Buffalo and Rochester RR. Co
51,068
Troy Union RR. Co. stock
21,100
Roch., Look. & Niag. Falls RR. Co.
295,000
Hudson River Bridge Co. stock
10,080
Buffalo and Niagara Falls RR. Co.
45,000
Future Income ; Proportion of Debt
Debt Certificates
7,925,000
Certificates, &c., chargeable to the
Bonds for Convertible loan
3,000,000
Income of the Company, from 1st
"
Railroad stocks
770,000
Sept., 1859, to 1st May, 1883
8,015,000
"
Real Estate
195,000
Fuel and Supplies surplus beyond
"
Funding Debtsof old Co's
1,225,000
$1,000,000
286,707
Bds. to Buf. & Ning. Falls RR. Co.
90,000
Bills receivable
42,758
Bond to Telegraph Co
10,000
General Post-Office Department
27,675
Bonds, Convertible, due 1876
182,000
Real estate, (Buf. & Niag. Falls RR.
Bonds and Mortgages
254,034
Company)
32,500
Unclaimed Dividends
5,889
Real estate, (Oliver Lee & Co.'s Bk)
34,827
Expenses of operating road ; paid
Trustees Syracuse & Utica RR. Co
6,681
in October
67,555
Coupons and int. ; accrued to Sep. 30
339,639
Income acct. ; Balance Sep. 30, '59.
1,619,151
Total
$40,366,005
Total
$40,366,005
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NEW YORK-NEW YORK CENTRAL.
277
OPERATIONS IN TRANSPORTATION FOR THE YEAR 1858-59.
Miles run by passenger trains
1,809,071
Miles run by passenger cars
5,379,091
"
by freight trains
1,824,978
"
by baggage, mail, etc., cars 2,286,595
"
by wood, gravel, etc., trains. 311,079
"
by freight cars
4,775,248
Total miles run by trains
3,945,128
Total miles r.n by cars
12,440,934
PASSENGER TRANSPORTATION FOR THE YEAR 1858-59.
Through.
Way.
Total.
Eastward
79,833
1,119,386
1,199,219
Westward
74,410
983,018
1,057,428
Total
154,243.
2,102,404
2,256,647
Total movement of passengers, or number of passengers carried one mile
132,993,340
ACCIDENTS AND THEIR CAUSES, 1858-59.
-Passengers.-
-Employees.-
Others
Total.
Causes of accidents.
Killed. Injured. Killed. Injured. Killed. Injured. Killed. Injured
Trains thrown from track
1
1
1
1
2
At work, or standing by or on
trains
....
1
2
1
2
Jumping on or off trains in
motion
4
....
4
Fell from cars
2
2
Run over while walking, stand-
ing or lying on the track
....
2
20
4
22
4
Total
1
6
3
24
4
30
8
FREIGHT TRANSPORTATION FOR THE YEAR, 1858-59.
Westward.
Eastward
Both directions.-
Through. Way. Total. Through. Way. Total. Through. Way. Total
Products of the forest
88
7,264
7,352
2,142
25,660
27,802
2,230
32,924
35,154
"
of animals
673
9,297
9,970
112,210
81,987
194,197
112,883
91,284
204,167
Vegetable food
924
19,368
20,292
101,288
128,171
229,459
102,212
147,539
249,751
Other agricul' products
1,414
5,238
6,652
8,171
15,273
23,444
9,585
20,511
30,096
Manufactures
2,737
15,772
18,509
3,817
34,710
38,527
6,554
50,482
57,036
Merchandise
102,001
63,089
165,090
1,458
12,234
13,692
103,459
75,323
178,782
Unclassed articles
6,001
29,526
35,527
5,155
38,651
43,806
11,156
68,177
79,333
Total
113,838 149,554 263,392 234,241 336,686 570,927 348,079 486,240 834,319
Total movement of freight, or number of tons carried one mile
157,136,000
TRANSPORTATION, YEARLY, 1853-59.
-Miles run by Trains.-
Passengers carried.
-tTons Freight carried.
Years.
Passenger.
Freight.
Number.
One Mile.
Number.
One Mile.
1853*
327,554
219,975
465,203
40,961,264
73,140
10,861,290
1854
2,117,038
1,200,240
2,556,874
163,874,473
549,805
81,168,080
1855
1,941,521
1,410,371
2,717,477
169,052,341
670 073
99,605,836
1856
1,774,093
1,522,439
2,729,613
165,889,550
776,112
145,733,678
1857
1,836,212
1,811,109
2,609,947
160,423,541
838,791
145,873,776
1858
1,821,431
1,847,763
2,124,439
136,091,023
765,407
142,691,178
1859
1,809,071
1,824,978
2,256,647
132,993,340
834,319
157,136,000
6 yrs. & 2 mos 11,626,920
9,836,875
15,460,200
969,285,533
4,507,647
783,069,838
THROUGH PASSENGERS AND FREIGHT, 1856-59.
Passengers
Freight, (tons, 2,000 lbs.
1856.
1857.
1858.
1859.
1856.
1857.
1858.
1859.
Eastward
68,959
81,306
81,017
79,833
172,781
179,647
229,275
234,241
Westward
86,286
121,858
82,530
74,410
80,507
113,230
83,133
113,838
Total.
155,245
203,164
163,547
154,243
253,288
292,877
312,408
348,079
# The operations for two months. t The net tons of 2,000 pounds. The points between which
transportation is classified "Through," are at the East Albany and Troy, and at the West Buffalo,
Ningara Falls, and the Suspension Bridge, or Lewiston.
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NEW YORK-NEW YORK AND ERIE.
COST, EARNINGS, EXPENSES, ETC., YEARLY, FOR Six YEARS, COMMENCING WITH
1854 AND ENDING WITH 1859.
Mile
Gross Earnings
Ex-
Net
Div.
Cost.
age.
Pass'ger.
Freight.
Mails.
Total.
penses.
Earnings.
p.c.
$25,907,374*
563
$3,872,186
$2,832,824
$286,999
$6,992,009
$3,485,736
$3,306,272
$2,114,953
9
27,360,731
556
3,242,229
3,189,603
131,749
6,563,581
3,401,455
3,162,126
1,916,483
8
29,786,372
556
3,207,378
4,328,041
171,929
7,707,348
4,097,867
3,609,481
1,919,564
8
30,515,815
556
3,147,637
4,559,276
320,338
8,027,251
4,453,515
3,573,736
1,919,564
8
30,732,517
556
2,532,646
3,700,270
295.496
6,523,412
3,487,292
3,041,120
1,919,564
8
30,840,713
647
2,566,688
3,337,148
297,330
6,200,166
3,349,429
2,851,737
1,679,782
7
175,143,522
3,434
18,568,764
21,947,162
1,503,841
42,019,767
22,275,294
19,744,473
11,469,910
29,190,588
572
3,094,796
3,657,860
260,640
7,003,294
3,712,560
3,290,745
1,911,648
8
NEW YORK AND ERIE RAILROAD.
(Financial year ending 30th Sept., 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
Daniel Drew
New York, N.Y.
Robert H. Berdell
New York, N.Y.
William B. Skidmore
"
"
Nathaniel Marsh
"
"
Herman Gelpcke
"
"
Henry L. Pierson
"
"
Ralph Mead
"
"
John Arnot
Elmira,
"
J. C. B. Davis
"
"
Ambrose S. Murray
Goshen,
"
Henry Sheldon
"
"
Dudley S. Gregory
Jersey City, N.J.
D. A. Cushman
"
"
William Evans.
London, Eng.
George T. Cobb
"
"
William F. Splatt
"
"
SAMUEL MARSH, President
New York, N.Y.
NATHANIEL MARSH, Receiver
"
"
TALMAN J. WATERS, Treasurer
"
"
CHARLES MINOT, General Superintendent
"
"
PRINCIPAL OFFICE
ERIE PLACE, West street, New York.
LENGTH OF RoAD-Piermont to Dunkirk
446.00 miles.
Newburg Branch, Chester Junction to Newburg
19.00 "
Total length of road owned by Company
465.00 miles
Leased Road-Union (Ramapo) Railroad
.25 "
Paterson and Ramapo Railroad
15.00 "
Paterson and Hudson Railroad
14.00 "
Chemung Railroad
17.50 "
Elmira, Jefferson and Canandaigua Railroad
49.00 "
Total length of leased lines
95.75 miles.
Total length of road operated by the Company
560.75 miles.
Second Track, including sidings and turnouts
282.50 "
Equivalent length in single track
842.50 "
The second track (1794 miles) is distributed as follows:
From Bergen to Paterson
14 miles.
On the Piermont Branch
9 miles.
From Sufferns to Port Jervis 56} "
From Delaw'e to Elmira June 1001
"
Total
1794 miles.
ROLLING STocK-Locomotive Engines
219
Passenger (8-wheel) cars, 1st class
100
Passenger (8-wheel) cars, 2d class and emigrant
49
Baggage, mail and express (8-wheel) cars
45
Freight (8-wheel) cars
2,763
#
For fourteen months.
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NEW YORK-NEW YORK AND ERIE.
279
The New York and Erie Railroad Company was chartered on the 24th April,
1832. The work of construction was commenced on that portion of the
Delaware Division, between Delaware and Callicoon Creek, a distance of 41
miles; and also upon the 10 miles nearest Piermont in 1836. To aid the
work, the Legislature, at its session in 1836, granted to it the credit of the
State to the amount of $3,000,000, but upon terms that could not be com-
plied with by the Company; in consequence of which, and of the commer-
cial revulsions which followed, the work of construction was suspended for
the next two years.
In 1838, terms of the State loan were so modified as to allow the Company
to draw it in sums of $100,000 each, provided equal amounts were first col-
lected from the stockholders and expended on the road. Up to Sept., 1839,
$300,000 had been collected and expended. and an equal amount of the
State loan rendered available, from which the Company realized only
$245,225-the State bonds (4) per cent.) selling at a discount of 13} per
cent., in addition to commissions.
In 1839, the unlet portion of the road from Piermont to Goshen was put
under contract; and in Feb., 1840, the Susquehanna Division, between
Binghamton and Hornellsville. In 1840, the terms of the State loan were
further modified 80 as to allow $100,000 of the same to be drawn for every
$50,000 collected from the stockholders, and expended on the road. Under
this arrangement, the balance of the State loan was made available, and the
work prosecuted upon the Delaware, Susquehanna, and Western Divisions;
in all about 300 miles.
In Sept., 1841, the first section of the road from Piermont to Goshen, 46
miles, was opened for public use. About this time the Company became
again involved in financial embarrassments, which resulted in placing the
road in the hands of assignees, under whose management it was extended to
Middletown, 7 miles west of Goshen, on the 7th of June, 1843 after which
the work was again suspended.
The sums expended up to 1st Feb., 1844, were as follows
Received from capital stock
$1,501,830
Donations
$362
Proceeds of State loan
2,599,514
Earnings prior to assignment
18,559
Interest on same
39,942
Indebtedness of the Company
573,814
Rents
2,928
Total
$4,736,949
Of this amount only about $2,000,000 became subsequently available to
the Company, the balance being expended in interest, and in work aban-
doned; a portion of this being the piling on the Susquehanna Division, and
grading on the Western.
At this juncture a renewed effort was made to prosecute the work. The
Company's engineer estimated the amount necessary to be expended to com-
plete the road to Lake Erie and equip it, at $7,000,000. In 1845, by an act
passed on the 14th of May of that year, the State agreed to release its claim,
which constituted by law a first mortgage on the road, provided the Com-
pany should complete the entire line to Lake Erie in six years from that time.
As a further inducement to additional subscriptions to the stock of the Com-
pany, the old stockholders agreed to surrender one-half of the stock held by
them, provided new subscriptions to the capital stock to the amount of
$3,000,000 should be obtained; a sum, with an equal amount of bonds, to
be issued, believed to be sufficient to complete the road; authority having
been granted for the issue of such bonds, to take precedence of the State
loan, provided the terms of the act referred to were complied with.
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280
NEW YORK-NEW YORK AND ERIE.
Prior to its re-organization in 1845, its liabilities were as follows
State loan
$3,000,000
New stock from old
917,601
Floating Stock
65,571
Bills payable
2,954
Six per cent. certificates
265,515
Old stock not surrendered
12,400
Seven per cent. certificates
163,146
Stock (surrendered)
742,100
Total
$5,169,287
Upon the re-organization of the Company, these liabilities were reduced
so as to stand as follows:
New stock
$742,100
Cash paid on old accounts
$101,433
Seven per cent. certificates
503,868
Outstanding liabilities
14,215
Total
$1,361,616
-relieving the Company of liabilities to the amount of $3,807,671.
Although the Company was relieved for the present of pecuniary embar-
rassment, a question of location arose which delayed for some time the
commencement of construction west of Otisville, the point of divergence be-
tween what was termed the interior route through Sullivan county and the
route up the Delaware River. The surveys which had been made, showed
the latter to be the best route. A portion of this lay in the State of Penn-
sylvania, which the Company, by its charter, was forbidden to enter. The
charter was subsequently, (in 1847), modified in this particular, and permission
obtained from the State of Pennsylvania to traverse a portion of its territory
on the payment of the sum of $10,000, annually. Upon the removal of these
obstacles, the work of construction was vigorously prosecuted, and con-
tinued without interruption till its completion to Lake Erie-the several sec-
tions being opened at the following dates, viz. : On the 3d Nov., 1846, from
Middleton to Otisville, 8 miles; on the 6th Jan., 1848, from Otisville to
Port Jervis, 13 miles; on the 28th Dec., 1848, from Port Jervis to Bing-
hamton, 127 miles; on the 1st June, 1849, from Binghamton to Owego, 22
miles; in October of the same year to Elmira, 361 miles; on the 1st Jan.,
1850, from Elmira to Corning, 17 miles; on the 3d Sept., 1850, from Corning
to Hornellsville, 41 miles; and on the 22d April, 1851, the whole line from the
Hudson to the Lake, 446 miles. The Newburg Branch was opened in 1850.
The Union Railroad is a short branch connecting the main line of the
road in New York with the Paterson and Ramapo, and Paterson and Hud-
son Railroads in New Jersey. It was built under a separate charter, and
leased to this Company, in perpetuity, on the 10th day of Sept., 1852, at an
annual rent of $3,500.
The Paterson and Ramapo Railroad is leased in perpetuity to the New
York and Erie Railroad Company ; its owners to receive as rent for the same
$26,500, payable on the 1st January and 1st July. Date of lease Sept. 9th,
1852.
The Paterson and Hudson Railroad is also leased to the New York
and Erie Railroad Company in perpetuity; its owners to receive as rent
for the same $45,600, payable half yearly, on the 1st Jan. and 1st July.
Date of lease Sept. 9th, 1852.
These two roads were constructed before the Erie Company obtained per-
mission to make its terminus at Jersey City, and their adoption was necessary
in order to avail themselves of this privilege. The trains of the New York
and Erie Company run on the New Jersey Railroad for a distance of about
two miles in Jersey City, an additional rail having been laid down for the
accommodation of the broad gauge of this Company.
The Chemung Railroad is leased for a period of 20 years, from the 1st
of Jan., 1859, at an annual rent of $30,000, payable half yearly, in New York.
The Elmira, Jefferson and Canandaigua Railroad is leased for a period of
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NEW YORK-NEW YORK AND ERIE.
281
20 years, from the 1st day of Jan., 1859, at an annual rent of $25,000, pay-
able half yearly, in New York.
For the use of the " Bergen Cut" the Company pays to the New Jersey
Transportation Company, (by which it is owned,) 12 cents per ton for every
ton of merchandise passing through it, and 6 cents for every passenger com-
ing from any point east of Sufferns Station, and four cents for every passen-
ger from west of that station. The aggregate amount of the payments made
to this Company is about $30,000 annually.
The Company also pay $2,800, annually, on account of widening the "Cut;"
and $5,000 annually for the use of land leased of the Paterson and Hudson
Railroad Company at Jersey City.
Long Dock.-The Long Dock is the name of the improvement designed to
connect the lower portion of the road with the Hudson River at Jersey City,
(for which purpose the road of the New Jersey Transportation Co. is now
used,) by a tunnel and railroad (2) miles), through Bergen Ridge, and by docks
and piersat Jersey City. The improvement has nominally been carried forward
by a Company incorporated, under the above title, by the State of New Jer-
sey. The capital stock is $800,000, (which is fully paid). The Company has
also authority to purchase and hold lands, and improve the same by the erec-
tion of buildings, the construction of streets, dock, wharves, etc., etc.; to
establish a ferry between the property purchased and the city of New York;
to issue bonds, bearing 7 per cent., secured by a mortgage of the property,
but not to be sold at less than 10 per cent. below their par value. Under
this organization, purchases of real estate were made, amounting in value to
$773,440, on which about $450,000 is still unpaid. As the improvement was
designed for the accommodation of the Erie Railroad, a lease was executed
of the same, on the 1st day of July, 1856, by which the New York and Erie
Railroad Company agreed to pay a rent equal to 10 per cent. on the stock
of the Company-the payment to be made half yearly on the 1st of Jan. and
July; the interest on any sum or sums expended on account of the pur-
chase of lands to be taken as a part of the rent. Under this organization and
assignment, the New York and Erie Railroad Company has advanced the
sum of $341,300, which has been invested in the stock of the Company; also
the sum of $123,027 by way of rent; and also the further sum of $644,511
in payment for work done on the tunnel, docks, etc., etc. The tunnel is
nearly completed. Its length is 4,380 feet. A large amount of work yet
remains to be done on the docks to prepare them for use. The annual charge
on account of the stock not owned by the Company is $45,870, payable half
yearly, on the 1st days of June and December.
The total expenditure on account of the improvement up to the 1st Jan.,
1860, was about $1,500,000.
The New York and Erie Railroad Company has the right of becoming
the purchasers of all the property of the Long Dock Company, on the pay-
ment thereto of the full amount of the capital stock of this Company, and
assuming its liabilities, at any time after the 1st Jan., 1862, on giving twelve
months' notice of such intention.
The Long Dock Company has executed a mortgage upon its property as
security for an issue of bonds to the amount of $500,000, bearing 7 per cent.
interest, dated Aug. 15, 1857, and payable 1st June, 1882, for the purpose
of raising money to carry forward the improvement. Interest payable 1st of
June and Dec. Of these bonds about $100,000 have been issued.
In addition to the real estate necessary to the use of the road and for the
36
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282
NEW YORK-NEW YORK AND ERIE.
construction of piers, dock, etc. The Long Dock Company own about 3,000
lots at Jersey City, measuring 25 by 100 feet.
CAPITAL STOCK-Authorized and paid in, $11,000,000.
FUNDED DEBT-$25,326,505: in detail as follows—
1st Mortgage, 7 per cent. coupon bonds
$3,000,000
-dated 1st May, 1847, and payable 1st May, 1867; interest payable semi-
annually, 1st May and 1st Nov.
2d Mortgage, 7 per cent. coupon bonds
$4,000,000
-dated 1st March, 1849, and payable 1st March, 1859; interest payable 1st
of March and 1st Sept. This class of bonds was not paid at maturity.
The Company propose to extend the same for a period of five years, and have
issued, and are prepared to issue, coupons, (entitling the holder to interest at
the rate of 7 per cent. per annum), to cover the period named. Issues of
Coupon Sheets have been made to holders of bonds to the amount of $2,700,-
000. The interest on this class of bonds remains unpaid since and including
Sept. 1st, 1859.
3d Mortgage, 7 per cent. coupon bonds
$6,000,000
-dated 1st March, 1853, and payable 1st March, 1883; interest payable 1st
March and 1st Nov. The mortgage in this case provided for an issue of
$10,000,000-$4,000,000 being retained to retire the Second Mortgage bonds
as they fell due, and which are still held, the Company having been unable
to sell them at satisfactory rates. The interest on this class of bonds re-
mains unpaid since and including 1st Sept. 1859.
4th Mortgage, 7 per cent. coupon bonds
$3,729,000
-dated 1st Oct., 1857, and payable 1st Oct., 1880; to be presently due in case
of failure to pay the interest on the bonds 6 months after due and demand;
interest payable 1st Oct. and 1st April. The mortgage in this case provided
for an issue of bonds to the amount of $6,000,000. About one-half the in-
terest due 1st April, 1859, and all since that date remains unpaid. These bonds
were issued for the purpose of retiring the floating debt of the Company,
the holders of which were entitled to convert the same into this class of bonds
at par. Holders of unsecured bonds were also entitled to purchase them,
paying one half in cash and one half in Unsecured Bonds. No bonds of this
class have been issued except in pursuance to these provisions.
5th Mortgage, 7 per cent. coupon bonds
$1,277,000
-dated 1st June, 1858, and payable June 1st, 1888 interest payable 1st of
June and 1st Dec. The mortgage in this case provided for an issue of bonds
to the amount of $4,000,000. This class of bonds was issued to the holders
of the Unsecured Bonds, who, on subscribing for Fourth Mortgage Bonds,
and paying therefor in the manner stated, were entitled to convert Unsecured
Bonds, equaling in amount half of such purchases, into Fifth Mortgage
Bonds. All the bonds of this class have been issued in accordance with
this provision. The interest thereon remains unpaid since and including 1st
June, 1859.
Convertible Bonds of 1851
$2,618,000
-dated 1st Feb., 1851, and payable 1st Feb., 1871; interest payable 1st
Feb. and 1st Aug. The total issue of these bonds was $4,351,000. The
interest on these bonds remains unpaid since and including 1st Feb., 1858.
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NEW YORK-NEW YORK AND ERIE.
283
Convertible Bonds of 1852
$2,443,000
-dated 1st Jan., 1852, and payable 1st Jan., 1862; interest payable 1st Jan.
and 1st July. The total issue in this case was $3,500,000. The interest on
these bonds remains unpaid since and including Jan., 1858.
Sinking Fund Bonds of 1855
$2,193,500
-dated 1st Feb., 1855, and payable 1st Feb., 1885, and presently, in case
of non-payment of Sinking Fund; interest payable 1st Feb. and 1st Aug. The
total issue in this case was $4,000,000. The interest on these bonds remains
unpaid since and including 1st Feb., 1858. This class of bonds was issued
to take up what were termed Income Bonds, dated 1st Feb., 1850, and pay-
able 1st Feb., 1855. It provided for a Sinking Fund equal to $35,000 monthly,
to be invested in the bonds. The contributions to the fund were regularly
made up to October, 1857, when they ceased. The amount of bonds re-
tired by the operations of the Sinking Fund have been $1,462,000.
The conversion of Unsecured Bonds into 4th and 5th Mortgage Bonds
accounts for the difference between the amounts outstanding, and the original
issues.
Seven per cent. Certificates
$26,505
-These are outstanding obligations convertible at the pleasure of the holder
into 4th Mortgage Bonds, bearing 7 per cent. interest. Interest paid.
Acceptances due in 1860
$40,000
-dated in 1850, and payable 1st Feb., 1860. They were given for real es-
tate in Newburg, purchased on account of the Newburg Branch. Interest
paid.
The amount of overdue interest at the close of the fiscal year was $1,207,
987 ; of which $684,687 was interest on mortgage debt, and $523,300 on the
unsecured debt.
FLOATING DEBT-$2,074,795, as follows—
Bills Payable
$313,703
Small accounts
$23,643
Accounts Payable
506,291
Rent Chemung Railroad
2,500
Unpaid coupons
1,207,987
Rent of Union Railroad
20,850
Comparative Statement of Balances of General Ledger of the New York
and Erie Railroad Company, on the 30th September, 1852, '3, '4, '5, '6, '7, '8
and '9:
DEBTS.
1852
1853.
1854.
1855.
1856.
1867.
1858,
1859.
Capital stock
$7,766,991
$10,000,091
$10,028,859
$10,028,959
$10,000,000
$11,100,000
$11,000,000
$11,000,000
Funded debt
18,003,869
20,173,869
22,641,099
24,891,000
24,891,000
24,891,000
26,438,017
25,260,000
Bills payable
2,819,415
2,573,822
2,225,046
1,061,540
991,067
1,982,482
732,258
313,703
Accounts pay'le-
487,082
464,733
679,706
573,814
584,452
724,669
908,812
1,827,597
Profit and loss
117,161
366,491
803,482
1,786,249
483,316
Totals
$28,694,519
$33,578,907
$35,569,711
$37,343,895
$38,252,768
$39,061,469
$39,079,087
$38,401,300
CREDITS.
Construction
$26,841,575
$81,222,834
$38,439,431
$33,742,317
$34,369,979
$34,469,323
$34,494,276
$35,820,907
Union Railroad
143,428
433,531
425,937
Transferred to
Construction.
Cash items
178,612
428,484
266,370
180,758
800,856
21,468
44,717
39,716
Materials
266,250
541,044
521,310
504,655
502,541
547,336
486,677
445,632
Fuel
876,552
254,419
185,896
497,115
728,463
572,372
317,921
275,510
Other assets
653,148
635,635
274,152
491,428
364,565
872,773
824,360
227,503
Bills receivable
378,380
853,063
410,082
413,585
470,549
360,268
185,417
277,600
Dis. on bds., '76-
766,000
721,815
607,886
592,615
#
Sinking fund
422,000
794,000
1,386,000
1,462,000
1
Long Dock
744,042
973,083
1,105,835
Profit and loss
29,938
198,620
708,607
Totals
$28,694,519
$33,578,906
$35,595,711
$37,343,795
$38,252,768
$39,081,496
$39,079,087
$38,401,300
Transferred to Construction. t Deducted from Funded Debt.
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NEW YORK-NEW YORK AND ERIE.
Statement showing the earnings, expenses, and interest and dividends paid
for a period of seven years ending Sept. 30th, 1859 :
1853.
1854.
1855.
1856.
1857.
1858.
1859,
Gross revenue for year
$4,318,962
$5,359,958
$5,488,993
$6,378,562
$5,755,324
$5,151,616
$4,482,149
Expenses of all kinds
2,431,032
3,325,752
2,777,142
3,553,438
4,201,947
3,957,641
3,077,312
Net earnings
$1,887,930
$2,034,206
$2,711,851
$2,825,124
$1,553,377
$1,193,975
$1,404,837
Int. on debt, rent of Union RR., etc.
1,386,041
1,729,929
1,878,432
1,842,357
1,856,310
1,875,311
1,915,424
Surplus, after paying expenses, etc.
$501,889
$304,277
$833,419
982,766
*$302,933
*$681,336
*$510,587
Dividends on stock
252,660
700,605
1,000,000
Recapitulation-Total earnings, $36,935,567 ; expenses of all kinds, $23,-
324,264; net earnings, $13,611,363; rent of Union and other roads, $659,004;
interest on Funded and Floating debt, $11,824,800; balance of net earnings,
after paying expenses of all kinds, rent of leased roads, and interest on
funded and floating debt, $1,127,499.
Cost OF ROAD AND EQUIPMENT-In 1859, $35,320,907 : in detail as follows-
1858.
1859.
Grading
$13,649,329
$13,708,394
Superstructure
2,575,986
2,575,986
Land
1,226,798
1,226,798
Engineering
498,152
498,152
Agency
156,593
156,593
Office expenses
200,530
200,530
Machine and workshops
296,771
296,771
Machinery in shops
181,090
183,282
Freight and passenger depots
567,684
569,259
Water stations and wood sheds
278,363
278,363
Locomotives and tenders
2,062,217
2,062,217
Passenger cars
348,077
372,084
Freight cars
1,738,591
1,736,591
Contingencies
190,652
190,652
Iron
4,061,513
4,061,513
Interest
1,651,694
1,651,694
Steamboats, barges
221,127
221,127
Depot West street and stores, and Dunkirk Harbor imp'ts
112,853
112,853
Telegraph
55,225
55,225
Interest on First Mortgage Bonds
499,944
499,944
Discount on
"
"
278,535
278,535
"
Second Mortgage Bonds
461,075
461,075
"
Income Bonds
257,539
257,539
"
Convertible Bonds, 1871
351,893
351,893
"
"
"
1862
381,566
381,566
"
Mortgage Bonds, 1883
364,565
364,565
"
7 per cent Certificates
34,857
34,857
Construction prior to 1845
1,355,416
1,355,416
Union Railroad improvement
437,144
Discount on Bonds, 1875
567,942
Cars and eng. bo't of C. and N. F. RR. Co
170,351
Totals
$34,058,633
$35.320.907
INCOME ACCOUNT FOR THE YEAR ENDING SEPT. 30, 1859.
Receipts-
Expenditures-
Freight
$3,195,870
Balance
$198,020
Passenger
1,154,084
Ordinary expenses year 1859
2,974,228
Storage
2,205
Bills 1858, paid 1859
34,144
Telegraph
9,829
Taxes
68,941
Rents
20,379
Interest on Mortgage Debt.
1,176,484
Transportation of mails
97,852
"
Unsecured "
567,368
Sleeping cars
1,932
"
Floating "
39,877
Balance
708,607
Rent of Union Railroad
83,400
"
Chemung Railroad
31,500
"
Elmira, Jeff. & Cananda. RR.
16,796
Total
$5,190,758
Total
$5,190,758
# Loss. t In stock.
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NEW YORK-NEW YORK AND ERIE.
285
MEMORANDUM.
Gross earnings for year ending Sept.
Int. on Mortgage Debt
$1,176,484
30, 1859
$4,482,149
Int. on Unsecured Debt
567,367
Int. on Floating Debt
39,877
Transportation expenses
$2,974,227
Rent of Union Railroad
83,400
Expenses 1858 paid 1859
32,880
Rent of Chemung Railroad.
31,500
Hire of cars
1,264
Rent of Elmira, Jefferson &
Taxes
68,941
Canandaigua Railroad.
16,796
3,077,312
$1,915,424
Net earnings
$1,404,837
Deficit
$510,587
On the 16th of Aug., 1859, at the suit of the Fourth Mortgage Bond-
holders for the foreclosure of this mortgage, a Receiver was appointed to
take charge of the road and its effects. He was directed to pay, in the first
place, all arrearages due employees of the road; also for supplies used in
operating it; also all other charges incident to its protection and main-
tenance, and to hold the net earnings subject to the order of the Court.
There were received by him from earnings and other sources, up to 1st Jan.,
1860, $2,424,452. The payments in the meantime were as follows:
Payments on account of interest on First Mortgage Bonds
$207,270
"
"
current expenses, arrearages, etc., etc
2,145,007
"
"
judgments against the Company
45,000
Cash on hand January 1st, 1860
27,175
Total
$2,424,452
The following proposition has been made for adjusting the affairs of the
Company:-To capitalize the Unsecured Bonds, with the interest due on the
same, and for two years in advance, into a Preferred Stock, bearing 7 per
cent. interest; the 1st Mortgage bondholders to extend the term for the pay-
ment of their coupons to March 1st, 1860; the 2d Mortgage to Sept., 1860; the
3d Mortgage to March, 1861 the 4th and 5th Mortgages to Dec. 1st, 1861.
In case of foreclosure, the same relations between the different classes of
bondholders and stockholders to be preserved.
In the meantime it is expected that the net earnings will discharge the
liabilities of the Company, the overdue coupons, and supply the means for
the completion of the Long Dock, (estimated at $500,000).
Upon the re-organization, on the plan proposed, its capital account will
stand as follows:
Common Stock
$11,000,000
3d Mortgage Bonds
$6,000,000
Preferred seven per cent
8,911,000
4th
"
"
3,700,000
1st Mortgage Bonds
3,000,000
5th
"
"
1,253,000
2d
"
"
4,000,000
Total
$37,864,000
GENERAL LEDGER BALANCE SHEET, 30TH SEPT., 1859.
Dr.
Cr.
Construction, per Schedule
$35,320,907
Capital Stock issued, including Div.
Cash and cash items on hand
39,715
No. 6
$11,000,000
Materials on hand
445,632
1st Mortgage Bonds due 1867
3,000,000
Fuel on hand
275,510
2d
"
"
1859
4,000,000
Owners of Lake Erie propellers
150,173
3d
"
"
1883
6,000,000
Owners of Lake Erie steamers
40,000
4th
"
"
1880
3,729,000
Real estate
5,776
5th
"
"
1888
1,277,000
Bonds of other companies
9,600
Convertible Bonds due 1871
2,618,000
Long Dock Company
644,512
Convertible Bonds due 1862
2,443,000
Rent of Long Dock property
120,024
Sinking Fund Bonds due 1875
2,193,000
Stock of Long Dock Company
341,300
Acceptances due 1860
40,000
Bills and Accts. receivable
277,591
Seven per cent. Certificates
26,505
Cascade store
2,647
Bills and accounts payable, per Sche-
Unadjusted accounts
19,306
dule
2,074,795
Profit and loss, per Schedule
708,607
Total
$38,401,300
Total
$38,401,300
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286
NEW YORK-NEW YORK AND ERIE.
OPERATIONS IN TRANSPORTATION.
1.-TRAIN MILEAGE AND AGGREGATE TRAFFIC, 1852-59.
Yr.end'g
-Miles run by trains.-
-Passengers carried.-
-Tons Freight carried.-
30th Sept.
Passenger.
Freight.
Number.
One Mile.
Number.
One Mile.
1852
1,062,424
1,326,846
864,330
81,179,554
456,460
96,697,695
1853
1,357,889
1,249,594
1,154,437
98,432,361
631,039
101,626,522
1854
1,496,600
1,466,823
1,125,124
96,663,709
743,250
130,808,034
1855
1,464,839
1,676,500
1,033,392
84,069,398
842,055
150,673,997
1856
1,329,531
1,863,602
1,124,382
101,108,220
983,221
183,458,043
1857
1,315,825
1,736,846
1,016,087
85,362,657
978,069
166,775,978
1858
1,784,991
1,216,378
793,671
64,931,457
816,964
165.895,636
1859
1,289,854
1,572,714
866,840
57,568,616
869,072
197,127,039
8 Years
11,101,953
12,109,303
7,978,263
619,315,972
6,570,226
1,193,062,944
Average
1,387,744
1,513,663
997,283
79,914,496
421,278
149,132,868
2.-PASSENGER TRAFFIC FOR THE YEARS 1855-59, INCLUSIVE.
-Through Passengers-
Way Passengers
Total Passengers
Year.
East'd.
West'd.
Total.
Eastward.
Westward.
Total.
Eastward.
Westward.
Total.
1855
25,532
30,814
56,346
449,258
527,788
977,046
474,790
558,602
1,033,392
1856
35,290
73,759
109,049
496,256
519,077
1,015,333
531,546
592,836
1,124,382
1857 28,904
70,902
99,806
431,558
484,723
916,281
460,462
555,625
1,016,087
1858 24,233
51,063
75,296
351,128
367,247
718,375
375,361
418,310
793,671
1859
26,000
55.000
81,000
392,920
392,920
785,840
418,920
447,920
866,840
5
yrs
139,959
181,538
321,497
2,121,120
2,291,755
4,412,875
2,263,079
2,571,293
4,834,372
Ave'e-
27,992
36,307
64,299
424.224
458,351
882,575
452,616
514,258
966,854
3.-FREIGHT TRAFFIC FOR THE YEARS 1855-59, INCLUSIVE.
Through Freight
Way Freight
Total Freight
Year.
East'd.
Westw'd.
Total.
Eastward.
Westward.
Total.
Eastward.
Westward.
Total.
1855
113,330
42,238
155,568
380,789
305,798
686,587
494,119
348,036
842,155
1856
202,082
78,748
280,830
366,366
335,873
702,239
568,448
414,621
983,069
1857
157,828
80,271
238,099
346,647
393,323
739,970
504,475
473,594
978,069
1858
224,886
61,068
285,954
268,016
262,994
531,010
492,902
324,062
816,964
1859
171,206
67,805
239,011
302,799
327,262
630,061
474,005
395,067
869,072
5 years.869,332
330,130
1,199,462
1,664,617
1,625,250
3,289,867
2,533,949
1,955,380
4,489,329
Aver'e.173,866
66,026
239,892
332,923
325,050
657,973
E06,789
391,076
897,965
4.-Total FREIGHT (Tons) CLASSIFIED FOR 1852-59
INCLUSIVE.
Products of
Products
Vegetable
Other
agri.
Manu-
Merch-
Unclassed
Total
Year. the Forest.
of Animals.
Food.
Products.
factures.
andise.
Articles.
Tonnage.
1852 76,908
75,943
56,929
2,419
74,847
50,687
118,725
456,460
1853 124 087
99,755
80,868
9,849
112,281
68,742
135,459
631,039
1854 135,757
136,499
99,293
12,236
110,443
79,014
170,009
743,250
1855 118,435
155,596
116,093
8,071
96,495
106,509
240,856
842,055
1856 116,378
170,099
148,943
13,556
110,769
155,473
268,003
983,221
1857 126,093
145,957
120,617
13,909
143.338
143,716
284,539
978,069
1858 92,550
178,076
154,534
10,885
88,976
128,709
163,234
816,964
1859 97,754
170,322
112,726
15,106
94,265
179,051
199,848
869,072
8 yrs. .887,962
1,132,247
890,003
86,031
831,414
911,901
1,580,572
6,320,230
Ave'ge.110,995
141,531
111,250
10,754
103,927
113,995
197,584
790,028
NOTE.-The total amount received for passenger transportation for the period embraced, (8
years, has been $11,914,272; and for freight, $27,125,416, which is at the rate of $1.07 for the for-
mer, and $2.32 for the latter per mile run by trains. These rates would be slightly increased
The division of passengers into "through" and "way" for the year 1859 is estimated, the de-
tailed statement of the passenger traffic for the year not having been made up.
by adding receipts from mails and miscellaneous sources. The average receipts for passengers
has been SU 01.92 per passenger per mile, and for freight, 80 02.29 per ton per mile.
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NEW YORK-NEW YORK AND HARLEM.
287
Cost, EARNINGS, EXPENSES, ETC., YEARLY.
Cost of Road, Miles
Gross Earning
Operating
Net
Div.
Fr.
&c.
of Road. Pass'r.
Freight.
Mails,&c.
Total.
expenses.
earnings.
p.o.
'42.$1,967,081
46
$34,848
$43,677
$
$78,525
$46,793
$31,732
$ nil. nil
'43. 2,084,408
53
35,000
60,735
95,735
52,520
43,215
"
"
"44.
2,084,408
53
46,178
79,842
126,020
66,945
59,075
"
"
'45.
2,084,408
53
44,176
82,169
126,345
70,217
56,128
"
"
'46.
2,561,018
62
64,754
120,762
185,516
123,173
62,343
"
"
147.
2,739,835
62
100,991
153,128
254,119
172,970
81,149
"
"
'48. 3,276,678
74
125,722
185,191
310,913
195,508
115,405
133,437
6
'49-16,430,868
268
363,210
425,078
21,855
810,143
508,926
301,217
291,595 6
'50-20,323,581
337
539,584
522,836
77,139
1,139,559
623,948
515,611
339,855 6
'51-24,028,858
465
1,159,289
1,103,892
96,689
2,359,870
1,277,680
1,082,190
346,859
6
'52.27,551,205
465
1,382,637
1,883,198
271,931
3,537,766
1,871,167
1,666,599
416,434
6
'53-31,222,634
498
1,601,209
2,537,215
180,538
4,318,962
2,518,781
1,800,181
252,660
21
'54.33,439,432
498
1,743,379
3,369,590
246,989
5,359,958
3,406,377
1,953,581
700,605
7
'55.33,742,317
498
1,698,670
3,653,002
137,321
5,488,993
2,861,875
2,627,118
nil. nil.
'56-33,938,254
498
1,656,675
4,545,722
146,593
6,348,990
3,636,838
2,712,152
"
"
'57-34,033,680
498
1,495,361
4,097,610
149,635
5,742,606
4,285,347
1,457,259
1,000,000
'58.34,058,632
498
1,182,258
3,843,310
126,048
5,151,616
4,065,041
1,086,575
nil. nil
'59.35,320,907
498
1,154,083
3,195,869
132,197
4,482,149
3,209,008
1,273,141
K
"
$340,588,404
4124
14,428,024
29,902,626
1,586,935
45,917,785
28,993,114
16,924,671
3,481,445
Av. 18,926,022
229
801,556
1,661,268
88,163
2,550,987
1,610,730
940,259
193,411
2.7
NOTE.-By the terms of the re-organization in 1847, interest at the rate of 6 per cent. was agreed
to be paid on the shares till the road was opened to Lake Erie.
The dividend in 1857, 10 per cent., was paid in stock.
In the table, only the cost of the completed portions of the road, while it was in progress, is given
NEW YORK AND HARLEM RAILROAD.
(Financial year ending 30th Sept., 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
W. C. Wetmore
New York, N.Y.
A. B. Baylis
New York, N.Y.
Cornelius Vanderbilt
"
"
Horace Brooks
"
"
Daniel Drew
"
"
John Harper
"
"
C. W. Sanford
"
"
Albert J. Aikin
Pawling,
"
Horace F. Clark
"
"
Albert Smith
New Rochelle, "
John Alstyne
"
"
F. W. Edmonds
Bronxville,
"
ALLAN CAMPBELL, President
New York City, N.Y.
W. H. EMERSON, Treasurer and Secretary
"
"
PRINCIPAL OFFICE
FOURTH AVENUE, cor. 26th street, New York City
LENGTH OF ROAD-New York City to Chatham Four Oorners
130.75 miles
Morris Port Branch
2.12 "
Second track, including sidings on main line and branch
30.96
"
ROLLING STOcK-Locomotive Engines
33
Passenger (8-wheel) cars, 1st class
51
Passenger (4-wheel) cars, for city line
42
Baggage, mail and express (8-wheel cars)
11
Freight (8-wheel) cars
365
The New York and Harlem Railroad Company was chartered on the 25th of
April, 1831. The work of construction was commenced immediately there-
after, and on the 26th of Nov., 1832, the first section of three-fourths of a
mile, extending from Prince to 14th street, was opened for public use; the
section from 14th to 32d street, about one mile, was opened on the 10th of
June, 1833; from 32d street to Yorkville, 21 miles on the 9th of May, 1834
Digitized by Google
288
NEW YORK-NEW YORK AND HARLEM.
from Yorkville to Harlem, 21 miles, on the 26th Oct., 1837 from Harlem to
Williamsbridge, 64 miles, on the 3d of Sept., 1842; from Williamsbridge to
White Plains, 12 miles, on the 1st Dec., 1844: from White Plains to Croton
Falls, 251 miles, on the 1st June, 1847; from Croton Falls to Dover Plains, 29
miles, on the 31st of Dec., 1848, and from Dover Plains to Chatham Four
Corners, (where it connects with the Albany and West Stockbridge Rail-
road,) 501 miles, on the 19th of Jan., 1852. The section between Prince
street and the City Hall, in New York, was opened on the 4th of May, 1839,
and from City Hall to the Astor House, on the 26th of Nov., 1852.
For payment of the construction of the section above Dover Plains to
Chatham Four Corners, Extension Certificates were issued to the amount of
$2,000,000, payable on the 1st day of Feb., 1873, bearing 7 per cent. inter-
est, payable 1st Jan. and 1st July, which certificates constitute a first lien on
the Extension. For the payment of the interest, the Railroad Company agreed
to supply the rolling stock for the Extension, operate it, and charge therefor
the average cost, per mile, of working the whole line, and to appropriate the
net earnings of the Extension toward the payment of the interest on the
certificates; and in case such earnings should not be sufficient to pay the in-
terest on the certificates, then the Railroad Company to apply thereto, if
necessary, three-fourths of the gross earnings from business over its road to
and from stations thereon, and from and to stations on the Extension; and in
case any deficiency should then exist, the Company to issue new for the old
warrants, bearing 7 per cent. interest, to be paid from the first surplus ac-
cruing in the manner stated, after the payment of the warrants falling due
or in arrears. The Railroad Company also agreed that the holders of the
certificates might convert them into the stock of the Company. They have
been 80 converted to the amount of $1,535,000, the Company holding the
certificates as a debt against that portion of the road for which they were
issued.
The earnings of the Extension have not, as a general rule, been sufficient
to pay the running expenses, estimating the cost per mile of the trains over
it at the rate for the whole road. Deducting loss of operating it from the
other sources of income provided for in the above agreement, the earnings
for the past five years applicable to the interest on the certificates were about
21 per cent. on their amounts. The Company paid for some time 31 per
cent., but for three years past have paid nothing-the construction of the
contract having been made a subject of litigation. According to the con-
struction given to it by the Company, the earnings applicable to the interest
on the certificates have equalled, for three years past, about 3 per cent. an-
nually.
The amount of certificates outstanding, on the 30th Sept., 1859, was
$465,000; coupons, $57,133; deferred interest certificates, $620,059.
By a contract with the city, the Company do not to run engines below the
tunnel at 42d street; but to this point the right to run them, with trains, is
conceded for a period of 30 years from 1859.
SHARE CAPITAL-$5,717,100: in detail as follows—
Ordinary shares, subscribed and paid
$4,217,100
Preferred
"
"
"
1,500,000
Total
5,717,100
The Preferred Shares were authorized by a vote of the stockholders in
1848, and were issued in that and the following year. They call for divi-
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NEW YORK-NEW YORK AND HARLEM.
289
dends at the rate of 8 per cent. per annum, which were regularly paid to
1854, since which none have been paid, except in 1857, when a dividend of 3
per cent. was paid.
FUNDED Дввт—$4,446,689 in detail as follows—
1st Mortgage, 7 per cent., coupon bonds
$2,950,000
-dated 1st May, 1853, and payable, 1st May, 1873, interest payable semi-
annually, 1st May and 1st November, at Company's office, New York.
The First Mortgage covers the road from the Park, New York, to Chatham
Four Corners, the branch line to East River, and sundry lots of ground in
the city of New York, and along the line of the road.
The mortgage in this case provided for an issue of bonds to the amount
of $3,000,000, of which $50,000 are held by the Company.
2d Mortgage, 7 per cent., coupon tonds
$1,000,000
-dated 1st August, 1854 and payable, 1st August, 1864 interest payable
1st February and 1st August, at Company's office, New York.
For the payment of the bonds maturing in 1864, the Company propose to
sell such portion of its real estate as is not wanted for the use of the road,
and move the City Station from 27th to 42d street. It is assumed that the
available real estate of the Company exceeds in value the amount of this
class of bonds, and that the same can be paid without the creation of a new
loan, or using the earnings of the road.
The Second Mortgage covers the same property as the First; also the
rolling stock of the Company, and sundry parcels of real estate on the line
of road.
3d Mortgage, 7 per cent., coupon bonds
$862,300
-dated 15th January, 1858, and payable 1st January, 1868; interest payable
1st January and 1st July, at the Company's office.
This class of bonds is further secured by a lien upon the Albany Exten-
sion Certificates, to the amount of $1,500,000.
The mortgage in this case provided for an issue of bonds to the amount
of $1,000,000, of which $137,700 are held by the Company.
Common, 7 per cent., coupon bonds
$106,000
-dated 15th March, 1853, and payable 1st January, 1872; interest payable
1st January and 1st July, at Company's office.
Common, 7 per cent., coupon bonds
$132,000
-dated 1st February. 1851, and payable 1st February, 1861; interest pay-
able 1st February and 1st August, at Company's office.
Common, 7 per cent., coupon bonds
$86,000
-dated 1st May, 1852, and payable 1st May, 1867 interest payable 1st
May and 1st November, at Company's office.
Redemption Bonds, 7 per cent., payable at different dates
$25,355
Common, 7 per cent,, coupon bonds
$127,000
-dated 1st August, 1849, and payable 1st August, 1859 ; interest payable
1st February and 1st August, at Company's office.
Dover Extension, 7 per coupon bonds, payable at various dates
$58,034
The last two classes of bonds, amounting to $175,034, are past due,
The interest on all the bonds of the Company is regularly paid.
FLOATING DEBT-None.
37
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290
NEW YORK -NEW YORK AND HARLEM.
Comparative statement of the share capital and debts of the New York and
Harlem Railroad Company 30th September, 1852-59, inclusive :
1852
1853.
1854.
1855.
1856.
1857.
1858,
1859.
Share Capital
$4,725,250
$5,127,550
$5,716,050
$5,717,100
$5,717,100
$5,717,100
$5,717,100
$5,717,100
Funded debt
977,463
1,489,201
2,714,201
3,074,302
3,853,305
4,000,497
5,151,287
5,353,297
Floating Debt
606,368
632,444
813,394
995,468
440,664
841,013
147,640
Totals
$6,309,081
$7,249,195
$9,243,645
$9,786,870
$10,011,069
$10,618,610
$11,016,027
$11,070,897
COST OF ROAD AND EQUIPMENT-$8,019,671 : in detail as follows—
1858.
1859
Graduation and masonry
Bridges
Superstructure
$7,313,339
$7,368,867
Stations and machine shops
Lands, etc, etc
Locomotive engines
350,952
358,917
Passenger and freight cars
283,825
291,887
Totals
$7,948,116
$8,019,671
The Company has on hand, in addition to its cost, materials for working
the road to the value of $88,870. It also owns real estate, in the city of
New York, beyond what is wanted for the road, worth $1,090,529, (but
subject to encumbrances amounting to $188,573,) according to a valuation
made some years ago. The difference between the liabilities of the
Company and the cost of the road is accounted for, in part by the property
owned by the Company, and which is not included in the cost of the road,
and by the fact that the cost of the Extension is not embraced in the state-
ment of the cost of the road, although appearing in the general statement.
INCOME ACCOUNT FOR THE YEAR ENDING 30TH SEPT., 1859.
Receipts-
Disbursements-
Passenger
$490,616
Repairs of road
$129,639
Freight
506,342
Repairs and renewals of road
34,237
Mails and other sources
79,364
"
"
buildings
18,370
Balance of interest paid
7,815
"
64
engines
37,044
"
"
cars.
45,481
Purchase and maintenance of horses
72,387
Fuel
61,155
Incidental expenses.
297,682
Interest paid
388,142
Total
$1,084,137
Total
$1,084,137
The incidental expenses include the expenses of that portion of the road
below 42d street over which the city passenger cars are run.
GENERAL LEDGER BALANCE SHEET, 30TH SEPT., 1859.
Dr.
Cr.
Railroad
$6,273,117
Old capital stock
$4,217,100
Morrisania Branch Road
144,783
Preferred
"
1,500,000
Locomotives
288,250
1st Mortgage Bonds
2,950,000
Cars
291,886
2d
"
"
1,000,000
Horses
47,230
3d
"
"
862,300
Shop Outfit, etc.
49,282
Unsecured Bonds
540,997
Real estate in the city
1,090,529
Real Estate Bonds and Mortgages
188,573
Discount 1st Mortgage Bonds
254,522
Albany Extension Certificate coupons
57,133
"
2d
"
"
250,904
"
"
deferred int. war'ts
620,060
"
3d
"
"
419,695
Current accounts
74,210
Albany Extension Interest Fund
571,132
"
"
Certificates
1,535,000
Sundry unsettled accounts
121,273
R. & G. L. Schuyler
395,536
Other items
88,870
Cash
88,170
Profit and loss account since 1858
100,013
Total
$12,010,373
Total
$12,010,373
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NEW YORK-NEW YORK AND NEW HAVEN.
291
The trains of the New York and New Haven Railroad Company are run
over the New York and Harlem Railroad, from near Williamsbridge, to
New York, a distance of 12} miles, paying therefor 10 cents for each full-pay-
ing passenger, and 31 cents for each commuter. For freight coming from
the New Haven road passing over both roads, the New Haven Company de-
duct 60 per cent. of the gross receipts for current expenses the balance is
divided between the two companies in ratio to the number of miles it is car-
ried on the road of each. The contract between the two companies expires
in October, 1860.
COST, EARNINGS, EXPENSES, ETC., YEARLY.
Cost
Mile-
Gross Barnings
Operating
Net
Div
Year.
of Road.
age.
Pass'gers.
Freight. Mails, etc.
Total.
Expenses.
Earnings.
8
p.o.
1832
$155,405
0.85
8384
8384
$4,650
(Loss.)
nil.
nil.
1833
362,421
1.72
5,019
5,019
1,862
3,157
"
"
1834
405,327
4.43
21,680
21,860
3,678
18,192
"
"
1835
610,779
4.43
38,429
38,429
52,188
(Loss.)
"
"
1836
874,331
4.43
54,035
54,035
60,992
"
"
"
1837
1,041,272
6.58
55,622
55,622
71,408
"
"
"
1838
1,041,272
6.58
79,694
79,694
62,501
17,193
"
"
1839
1,182,300
7.65
99,783
99,783
81,419
18,364
"
"
1840
1,182,300
7.75
105,724
105,724
86,921
18,803
"
"
1841
1,182,300
7.75
99,616
99,616
81,087
18,529
"
"
1842
1,182,300
14.01
120,250
120,250
87,333
32,917
"
"
1843
1,182,300
14.01
125,033
125,033
91,250
33,783
"
"
1844
1,204,846
2601
138,190
2,494
140,684
78,286
62,398
"
"
1845
1,213,456
2601
167.554
9,883
177,437
81,958
95,479
"
"
1846
1,702,077
26.01
170,923
11,882
182,805
86,737
96,068
"
"
1847
1,874,892
51.26
225,605
29,616
255,221
136,268
118,953
"
"
1848
3,579,567
80.17
253,953
65,082
319,035
193,480
125,555
38,167
21
1849
3,381 443
80.17
271,622
118,786
31,484
421,892
205,450
216,442
47,775
2
1850
4,666,208
80.17
324,368
114,406
43,793
482,567
246,719
235,848
90,475
4
1851
4,873,317
80.24
372,652
156,806
61,484
590 942
348,587
242,355
95,542
4
1852
6,102,931
130.75
433,572
187,298
60,575
681,445
356,951
324,494
112,236
31
1853
7,249,196
132.87
555,654
301,801
61,338
918,793
537,271
382,522
142,280
4
1854
8,127,388
132.87
520,680
337,311
84,403
942,394
787,540
154,854
72,319
2
1855
8,758,203
132.87
524,048
424,780
86,749
1,035,577
801,451
234,126
nil.
nil
1856
8,870,831
132.87
520,527
436,245
83,621
1,040,393
715,501
324,892
"
"
1857
6,112,499
13287
494,103
436,725
96,744
1,027,572
840,731
186,841
"
"
1858
7,946,116
132.87
462,556
443,301
69,996
975,863
617,061
358,792
"
"
1859
8,019,671
132.87
490,616
506,341
79,365
1,076,322
695,996
380,326
"
"
$94,084,948
1591.07
6,731,892
3,582,757
759,552
11,074,201
7,415,276
3,658,925
598,794
Aver.
3,360,177
56.82
240,425
127,955
27,127
395,507
264,831
130,679
21,385
0.8
Subjoined is a statement of the earnings of the city line, worked by horses,
for a period of eleven years:
1849
$92,999 30
1853
$94,788 68
1837
$100,724 28
1850
94,474 33
1854
85,347 51
1858
153,486 04
1851
96,060 18
1855
93,042 17
1859
174,655 67
1852
99,494 97
1856
89,969 59
NEW YORK AND NEW HAVEN RAILROAD.
The New York and New Haven Railroad Company was chartered by the Le-
gislature of Connecticut on the 10th of June, 1844. In 1846 the Company
was authorized by the State of New York to extend its road from the
boundary line of the State to a junction with the Harlem Railroad, at or
near Williamsbridge. The construction of the road in New York was com-
menced in 1847 and completed in 1848. Only one organization is maintained,
and no account, of earnings of the New York portion, separate from those
of the Connecticut portion of the line, is kept. The length of road in New
York is 14 miles.-(See New York and New Haven Railroad of Connecticut.)
Digitized
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Google
292
NEW YORK-NIAGARA BRIDGE AND CANANDAIGUA.
NIAGARA BRIDGE AND CANANDAIGUA RAILROAD.
(Financial year ending 30th September, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
Stewart Brown
New York, N.Y.
Isaac Seymour
New York, N.Y
James M. Brown
"
"
William S. Douty
"
"
George H. Brown
"
"
Charles Congdon
Brooklyn,
"
Robert B. Potter
"
"
Alex. M. Greig
"
"
Howard Potter
"
"
John N. Whiting
Orange,
"
Charles C. Nott
"
"
Clarkson N. Potter
New York, N.Y.
CLARKSON N. POTTER, President and Treasurer
New York, N.Y.
HUBBARD HENDRICKSON, Secretary
Brooklyn, "
PRINCIPAL OFFICE
No. 61 ALL STREET, New York City, N.Y.
LENGTH OF ROAD-Suspension Bridge to Canandaigua-
98.57 miles.
Branch from Tonawanda to Cleaveland's Dock
1.64
"
Second track and sidings, 6.89 miles.
ROLLING STOCK-Owned by lessee.
SHARE CAPITAL-Authorized, $1,000,000, in 10,000 $100 shares.
Paid in - 1,000,000,
"
"
FUNDED OR FLOATING DEBT-None.
The Niagara Bridge and Canandaigua Railroad Company is successor, by pur-
chase, of the Canandaigua and Niagara Falls Railroad Company, and was
organized and filed articles of association 25th August, 1858. The original
Company was organized under the general law and filed articles of associa-
tion 18th March, 1851. Construction was commenced in the fall of the same
year, and the road was opened from Canandaigua to Batavia, 50 miles, 1st
January, 1853 ; from Batavia to Niagara Falls, 36 miles, 1st July, 1853, and
from Niagara Falls to Suspension Bridge, 3 miles, 1st April, 1854. Dur-
ing construction the Company created three mortgages, (the total issue
being $2,170,000), secured by the whole property, and described as follows
1st Mortgage, convertible, sinking fund, 6 per cent. bonds £208,500 or $1,000,000
-dated 17th March, 1852, and payable, principal 15th April, 1862, and in-
terest 15th April and 15th October, in London. Cash realized, $900,000.
2d Mortgage, convertible, 7 per cent. bonds
$750,000
-dated 1st August, 1853, and payable, principal 1st August, 1868, and in-
terest 1st Aug. and 1st Feb., in New York City. Cash realized, $600,000.
3d Mortgage, convertible, 7 per cent. bonds
$420,000
-dated 1st Dec., 1853, and payable, principal 1st Dec., 1863, and interest
1st Dec. and 1st June, in New York City. The amount of this class pro-
vided was $600,000.
The interest falling due in August and December, 1855, was not paid, and
in consequence of this failure a Receiver was appointed to take charge of
the property and operate the road, which was subsequently sold under the
1st Mortgage, and purchased by James M. Brown, Charles Congdon, and
Robert B. Potter, who, with their associates, formed the present Company.
On the 1st July, 1858, the line was leased in perpetuity to the New York
Central Railroad Company, the lessee agreeing to pay as rent therefor
$60,000 annually, to keep the road in good repair, and to make the annual
report concerning the condition and business of the road as required by law.
It is now operated under the title of the Canandaigua, Batavia and Tona-
Digitized by Google
NEW YORK-NIAGARA FALLS AND LAKE ONTARIO.
293
wanda Division of the New York Central Railroad. The road was originally
constructed with a wide, or 6 feet, gauge, to correspond with the New York
and Erie Railroad; but this has now been changed to the narrow or 4 feet
81 inch gauge, corresponding with the Central line.
The following is a statement of the financial condition of the Company on
the 30th September, 1856, since which time no report has been published:
Share Capital
$1,315,000
Cost of Road
$3,210,616
Funded Debt.
2,170,000
" of Rolling Stock
294,995
Floating Debt
183,578
Profit and loss
162,967
Total
$3,668,578
Total
$3,668,578
The rolling stock above represented was sold to the New York and Erie
Company for $170,351.
The Company made no report of earnings after 1856. The earnings for
that year were-from passengers, $92,039 freight, $74,112-total, $166,151.
Current expenses, $225,452. The earnings for 1855 were-from passengers,
$45,764; freight, $11,374; other sources, $2,628-total, $59,766. Current
expenses, $70,839.
NIAGARA FALLS AND LAKE ONTARIO RAILROAD.
The Niagara Falls and Lake Ontario Railroad Company was organized under
the General Railroad Law of the State of New York, on the 9th of Sept.,
1852. The construction of the road was commenced in 1853, and completed
in 1854. It was built as a continuation of the Canandaigua and Niagara
Falls Railroad, but owing to embarrassments into which both companies
soon fell, it was never brought into use. Its cost on the 30th September,
1856, the date of the last report to the Legislature, was about $400,000; its
paid up capital, $188,620 bonded debt, $200,000; floating debt, $36,717.
These bonds were 7 per cents, dated 1st June, 1853, and payable 1st June,
1863 ; interest payable 1st June and 1st Dec., at New York. They consti-
tuted a first lien on the road. The interest on the same not having been
paid, the mortgage has been foreclosed for the benefit of the bondholders by
whom it is now owned. The road may be regarded as abandoned as a pub-
lic highway. The road extends from Suspension Bridge to Youngstown,
13.15 miles. The Board of Directors and Officers for 1856 were-Directors
Samuel Rand, W. S. Mallory, J. C. Shibley, W. H. Doyle, John Porter,
Benjamin Pringle, L. J. Shanchiff, H. H. Johnson, J. S. King, A. S. Diven,
and Robert Bayard. Officers-George Wright, President; W. S. Mallory.
Treasurer. The Company's office was in New York City.
OGDENSBURG (NORTHERN) RAILROAD.
(Financial year ending 30th September, 1859.)
TRUSTEES AND OFFICERS, 1859-60.
W. A. Wheeler
Malone, N.Y. I J.S. Eldridge
Boston, Mass.
A. C. Brown
Ogdensburg, N.Y.
S. C. F. THORNDYKE, Cashier
Malone, N.Y.
GEO. V. HOYLE, Superintendent
Champlain, "
PRINCIPAL OFFICE
MALONE, Franklin Co., N.Y
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294
NEW YORK-OGDENSBURG (NORTHERN).
LENGTH OF ROAD-Ogdensburg to Rouse's Point
118.00 miles.
Length of branches* owned by Company
3.75
"
Second track and sidings, 17.75 miles.
ROLLING STOCK-Locomotive Engines
28
Cars (8-wheel) :-Passenger, 1st class, 6, and 2d class, 2; baggage, mail and
express, 9; freight, 608
625
The Northern Railroad Company was chartered on the 14th May, 1845, and
organized on 15th June, 1846. The work of construction was commenced
in 1847, and the several portions of the road were opened for public use-
from Rouse's Point to Centreville, 15 miles, in Nov., 1849; from Centreville
to Ellenburgh, 14 miles, in May, 1850; from Ellenburgh to Chateaugay, 16
miles, in June, 1850; from Chateaugay to Malone, 12 miles, in August, 1850,
and the entire line to the St. Lawrence River, at Ogdensburg, on the 1st Oct.
of the same year. The Potsdam Lumber Mill Branch was opened in 1851,
and the Summit Gravel Bed, and Champlain Branches in 1854. In Oct.,
1854, the road was surrendered to the trustees under the second mortgage,
for default of interest on the bonds secured thereby, and on the 21st Octo-
ber, 1856, sold at auction upon the foreclosure of the mortgage, for the no-
minal sum of $1,500,000-the Second Mortgage bondholders being the
purchasers. In 1857 an act was passed authorizing the formation of a new
company by the purchasers, who, on the 6th Jan., 1858, filed articles of as-
sociation, under the name of the Ogdensburg Railroad Company.
SHARE CAPITAL-(Paid in,) $1,500,000, being the amount for which the road
was sold.
SHARE CAPITAL of the old Company, $1,771,380-all of which was extin-
guished by the sale.
FUNDED DEBT of the new Company : as follows—
1st Mortgage 7 per cent. coupon bonds
$1,494,900
-dated 1st July, 1849, and payable 1st April, 1859; interest payable 1st
April and 1st Oct., at Malone, or New York. The interest on this class
has been paid.
The 2d Mortgage 7 per cert. bonds of the old Company were issued on 1st
April, 1851. The amount outstanding at the date of the foreclosure was
$3,077,000. No interest was paid on the same after April, 1854 nor have
any dividends been paid on the stock of the new Company.
COST OF ROAD AND EQUIPMENT-$4,799,287 : in detail as follows—
Graduation and masonry
$1,862,822
Land, land-damages, and fences
$140,938
Bridges and wharfing
214,280
Locomotives and snow-ploughs
235,114
Superstructure, including iron
1,126,356
Passenger and baggage cars
37,040
Stations, buildings and fixtures
330,394
Freight and other cars
435,946
Engine and car houses
117,333
Miscellaneous expenditures
156,021
Machinery and furniture for shops
13,315
Engineering and agencies
129,705
INCOME ACCOUNT FOR THE YEAR ENDING 30TH SEPT., 1859.
Receipts-
Disbursements-
Passengers
$74,961
Transportation expenses
$262,082
Freight
292,736
Interest
98,003
Other sources
15.235
Discount, interest, etc.
2,033
Surplus income
19,914
Total
$382,932
Total
$382,932
# Branches, viz. : from Summit to Gravel Bed, 1.25 miles; from Champlain to River Landing
1.50 miles; and from Potsdam to Lumber Mill, 1 mile.
Digitized by
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NEW YORK-OSWEGO AND SYRACUSE.
295
COST, EARNINGS, EXPENSES, ETC., YEARLY.
*Cost of
Miles.
Gross Earnings
Operating Earn'gs, -Div-
Year. Road, &c.
of
Road.
Passen'r.
Freight.
Mails,etc.
Total.
expenses.
less exp.
$
p.c.
1850-$2,979,937
58.00
$6,623
$20,794
$348
$27,765
$12,317
$15,448
nil.
nil.
1851.
4,299,079
119.00
83,561
200,049
7,558
291,168
163,012
128,156
"
"
1852 4,933,029
119.00
93,548
322,961
19,346
435,845
259,722
176,123
"
"
1853.
5,081,373
119.00
115,078
392,793
18,651
526,522
231,634
294,888
"
"
1854. 5,435,565
119.00
123,800
440,144
30,041
593,985
416,254
177,731
"
"
1855.
5,470,714
121.75
115,107
355,463
49,583
520,153
384,398
135,755
"
"
1856. 5,492,816
121.75
93,818
343,851
40,008
477,677
330,948
146,729
"
"
1857.
4,741,487
121.75
89,962
362,999
54,463
507,424
335,932
171,492
"
"
1858.
4,788,791
121.75
71.599
323,866
15,341
410,806
283,794
127,012
"
"
1859.
4,799,287
121.75
74,961
292,736
15,235
382,932
262,083
120,849
"
"
$48,022,078
1142.75
868,057
3,055,646
250,574
4,174,277
2,680,094
1,494,183
"
as
Aver. 4,802,207
114.27
86,805
305,564
25,057
417,427
268,009
149,418
"
"
OSWEGO AND SYRACUSE RAILROAD.
(Financial year ending 30th September, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
Luther Wright
Oswego, N.Y.
Allen Munroe
Syracuse, N.Y.
A. P. Grant
"
"
T. T. Davis
"
"
E. B. Judson
"
"
Austin Myers
"
"
J B. Penfield
"
"
Rufus H. King
Albany,
"
Joel Turrill
"
"
H. H. Martin
"
"
Sylvester Doolittle
"
"
Samuel Willits
New York City,
"
F.T. CARRINGTON, President
Oswego, N.Y.
LUTHER WRIGHT, Treasurer
"
"
GEORGE SKINNER, Superintendent
"
"
PRINCIPAL OFFICE
Oswego, Oswego Co., N.Y.
LENGTH OF RoAD-Oswego to Syracuse
35.91 miles.
Second track and sidings, 2.21 miles.
ROLLING STOCK-Locomotive engines and tenders
6
Cars (8-wheel) :-Passenger, 6; baggage, mail and express, 2; freight, 42.. 50
The Oswego and Syracuse Railroad Company was chartered on the 29th
April, 1839, and procured a renewal of its charter on the 14th May, 1845.
The Company was organized on the 25th March, 1847 and immediately
thereafter commenced construction. The road was opened for public use on
the 16th October, 1848.
SHARE CAPITAL-Authorized by charter, $350,000, in 7,000 $50 shares.
Increased by vote, -
140,000, in 2,800
"
Cash realized,
-
396,340 on 9648
"
The whole of the original share capital was paid for at par. The second
series of shares was issued in accordance with a vote of the stockholders on
the 5th June, 1854. The amount voted was $140,000 in 2,800 shares, but
only 2,648 were issued, the remainder being still held by the Company.
These were awarded to the original shareholders pro rata, and were paid for
in cash, 35 per cent., and in undivided earnings, which had to be applied to
construction, 65 per cent.
The sums set down to construction up to 1856 include the discounts on bonds, and also the
cumulative interest on share capital; in 1856 these amounted to $758,021.
Digitized by Google
296
NEW YORY-OGDENSBURG, CLAYTON AND ROME.
FUNDED DEBT-$213,500: in detail as follows—
1st Mortgage, 7 per cent., bonds
$188,500
-dated 1st May, 1858, and payable, principal 1st May, 1870, $86,000; 1st
May, 1875, $50,000; and 1st May, 1880, $52,500, and interest semi-annually,
1st Jan. and 1st June, at the American Exchange Bank, in New York. The
whole amount provided under this mortgage is $225,000.
Seven per cent. coupon bonds
$25,000
-dated 1st Jan., as follows-1852, $7,000; 1853, $8,000, and 1854, $10,000,
and payable, principal in 10 years, and interest semi-annually, 1st May and
1st Nov., at the Chemical Bank, in New York.
FLOATING DEBT-$10,875.
COST OF ROAD AND EQUIPMENT-$775,677 in detail as follows—
Graduation and masonry
$252,012
Land, land-damages and fences
$84,609
Bridges
15,978
Locomotives, snow-ploughs, etc
56,639
Superstructure, including iron
280,691
Passenger and baggage cars
14,575
Stations, buildings and fixtures
8,469
Freight and other cars
30,248
Engine and car houses, etc
12,207
Engineering and agencies
20,247
INCOME ACCOUNT FOR THE YEAR ENDING 30TH SEPT., 1859.
Receipts-
Disbursements-
Passenger earnings
$63,113
Maintenance of road
$11,882
Freights
"
40,609
Repairs of machinery
10,706
Mail
"
3,041
Operating road
25,735
Miscellaneous
2,389
Interest
17,013
Dividend 7 per cent. on 9,648 shares
31,332
Surplus earnings
12,484
Total
$109,152
Total
$109,152
GENERAL LEDGER BALANCE SHEET, 1ST OcT., 1859.
Dr.
Cr.
Construction
$674,215
Share Capital
$396,340
Equipment
101,462
Funded Debt
213,500
Floating Debt.
10,875
Profit and loss
154,962
Total
$775,677
Total
$775,677
COST, EARNINGS, EXPENSES, ETC., YEARLY.
Cost of Road, Mile-
Gross Earnings
Operating Earnings,
Div
Year.
&c.
age.
Pass'r.
Freight.
Mails,&c.
Total.
expenses.
less exp.
$
p.c
1849
$548,353
35.91
$43,692
$4,903
8538
$49,133
$35,591
$13,542
nil.
nil.
1850
571,774
35.91
57,099
9,062
11,302
77,463
38,942
38,521
14,000
4
1851
588,678
3591
57,710
12,636
23,515
93,861
45,163
48,698
12,250
31
1852
607,804
35.91
54.903
21,016
14,698
90,617
47,609
43,008
12,250
31
1853
633,598
35.91
55,629
27,921
8,173
91,723
47,245
44,478
nil.
nil
1854
677,754
35.91
66,625
34,704
3,227
104,556
53,384
51,172
"
"
1855
723,683
35.91
71,177
51,036
4,327
126,540
67,558
58,982
13,117
31
1856
741,618
35.91
75,394
67,049
3,749
146,192
72,629
73,563
42,193
11
1857
752,030
35.91
71,796
72,606
4,971
149,373
70,619
78,754
33,436
8
1858
761,380
35.91
59,984
51,731
4,281
115,996
54,649
61,347
37,097
8
1859
775,677
35.91
63,112
40,609
5,431
109,152
48,323
60,829
38,592
8
11
yrs,
7,482,349
395.01
677,121
393,273
84,212
1,154,606
581,712
572,894
202,935
Aver
680,213
35.91
61,556
35,752
7,655
104,964
52,883
52,081
18,449
41
OGDENSBURG, CLAYTON AND ROME RAILROAD.
(Financial year ending 30th September, 1856.)
OFFICERS OF THE COMPANY.
JOHN STRYKER, President
Rome, Oneida Co., N.Y.
N. J. BEACH, Treasurer and Secretary
"
"
"
Digitized by
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NEW YORK-POTSDAM AND WATERTOWN.
297
LENGTH OF ROAD, Main Line: Rome to Ogdensburg
123.24 miles.
Branch Line: Philadelphia to Clayton
14.74 "
The Ogdensburg, Clayton and Rome Railroad Company was organized under
the General Law, and filed Articles of Association on the 16th April, 1853.
On the 27th May of the same year, the village of Rome was authorized, by
an act of the Legislature, to subscribe for 1,500 shares in the capital stock
of the Company. The surveys were completed in November, 1853, and con-
struction was commenced in the spring of 1854. No part of the road was
ever opened, and in 1856 work was suspended. On the 1st April, 1859, the
Company ceased to exist by limitation of its charter, having expended about
$550,000 in construction, etc.
SHARE CAPITAL-Authorized, $2,000,000, in 20,000 $100 shares.
Subscribed, 1,002,400, in 10,024
"
Paid in,
-
474,481.
-Which includes 8,524 shares subscribed by individuals and contractors,
and 1,500 subscribed by the village of Rome. The stock awarded to Rome
was to be paid for in bonds: of these $75,000 had been issued to date.
FUNDED DEBT : as follows-
1st Mortgage, 7 per cent., coupon bonds
$10,200
-dated 1st Jan., 1855, and payable, principal 1st Jan., 1870, and interest
1st Jan. and 1st Julv, at the American Exchange Bank in New York.
FLOATING DEBT-$64,068.
COST OF ROAD AND EQUIPMENT-$488,806 in detail as follows-
Graduation and masonry
$338,738
Passenger and baggage cars
$7,505
Bridges
4,000
Engineering
28,115
Superstructure, including iron
8,705
Agencies
8,352
Land, land-damages and fences
73,628
Salaries not included in above
19,763
POTSDAM AND WATERTOWN RAILROAD.
(Financial year ending 30th September, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
Hiram Holcomb
Watertown, N.Y.
Aaron T. Hopkins
Potsdam, N.Y.
Alexander Copley
Chaumont,
"
Henry Knowles
"
"
Hiram B. Keen
Antwerp,
"
Daniel Gay
"
"
George B. Phelps
Watertown,
"
Willis Phelps.
Springfield, Mass.
Zenas Clark
Potsdam,
"
Ebenezer Miner
Canton, N.Y.
Bloomfield Usher
"
"
Barzillai Hodskin
"
"
EDWIN DODGE, President
Gouverneur, N.Y.
BARZILLAI HODSKIN, Treasurer
Watertown, "
GEORGE B. PHELPS, Superintendent
"
"
PRINCIPAL OFFICE
WATERTOWN, Jefferson Co., N.Y.
LENGTH OF RoAD-Watertown to Potsdam
75.36 miles.
Second track, including sidings, etc., 2 miles.
ROLLING SToCK-Locomotive engines
6
Cars (8-wheel) :-Passenger, 1st class, 4; baggage, mail and express 3, and
freight, 30
37
The Potsdam and Watertown Railroad Company was organized under the
General Law, and filed Articles of Association on the 25th February, 1852.
38
Digitized by
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298
NEW YORK-POTSDAM AND WATERTOWN.
The work of construction was commenced in the spring of 1853. That
portion of the road between North Potsdam and Potsdam, 7 miles, was
completed on the 20th October, 1854, and on the 22d November of the same
year the section from Watertown to Evans' Mills, 10 miles. On the 1st
June, 1855, it was opened to Philadelphia, 7 miles, and on the 23d August
following to Antwerp, 6 miles further; on the 30th September, 1856, it was
opened to DeKalb, 43 miles, and by the end of that year to Hermon, 52
miles from Watertown. In June, 1857, the road between Hermon and Pots-
dam, 18 miles, was completed and the whole line opened for public use. On
the 13th November, 1858, the President of the Company surrendered the
road into the hands of the Trustees under the 1st Mortgage, default having
been made in the payment of the June interest on the bonds guaranteed by
the Watertown and Rome Railroad Company, and the road was operated
under their direction until August, 1859, when the Company was re-instated
in possession under a decree of the Supreme Court. The overdue interest has
since been paid, in part by the Watertown and Rome Company, which see.
SHARE CAPITAL-Authorized, $2,000,000, in 20,000 $100 shares.
Subscribed, - 792,900, in 7,929
"
Paid in, - - 665,419.
FUNDED DEBT-$911,000 classified as follows—
1st Mortgage, 7 per cent. guaranteed bonds
$800,000
-dated 1st Dec., 1853, and payable as follows :-$200,000 in 11 years from
date; $200,000 in 16 years from date; and $400,000 in 21 years from date
interest semi-annually, 1st Dec. and 1st June, in the city of New York.
Both principal and interest of these bonds are guaranteed by the Watertown
and Rome Railroad Company.
2d Mortgage, 7 per cent. coupon bonds
$111,000
-dated 1st April, 1857, and payable, principal in 3, 4 and 5 years, and in-
terest semi-annually, 1st Dec. and 1st June, in the city of New York.
The mortgage in this case provided for an issue of bonds to the amount
of $200,000. The interest on this class of bonds has not been paid.
FLOATING DEBT-$192,748.
Cost OF ROAD AND EQUIPMENT-$1,594,956 in detail as follows-
Graduation and masonry
$533,555
Land, land-damages and fences
$70,077
Bridges
29,769
Locomotives and fixtures, etc
34,500
Superstructure, including iron
812,108
Passenger and baggage cars
5,262
Stations, buildings and fixtures
29,497
Freight and other cars
28,122
Engine and car houses, machine shops.
7,153
Engineering and agencies
44,512
INCOME ACCOUNT FOR THE YEAR ENDING 30TH SEPT., 1859.
Receipts-
Disbursemento-
Passenger earnings
$51,339
Road maintenance
$16,887
Freight
"
42,413
Repairs of machinery
5,573
Mail, express, etc.
6,295
Operating road
30,006
Interest paid
38,052
Surplus income
9,529
Total
$100,047
Total
$100,047
GENERAL LEDGER BALANCE SHEET, 1ST OcT., 1859.
Dr.
Cr.
Cost of road
$1,527,072
Share Capital paid in
$665,419
" of equipment
67,884
Funded Debt
911,000
Profit and loss
174,211
Floating Debt
192,748
Total
$1,769,167
Total
$1,769,167
Digitized by Google
NEW YORK-PLATTSBURG AND MONTREAL.
299
Cosr, EARNINGS, EXPENSES, ETC., YEARLY.
Cost of
Miles
Gross Earnings
Operating Earn'gs,-Div-
Year.
Road, &o.
of
Road.
Passen'r.
Freight.
Mails,etc.
Total.
expenses.
less
exp.
$
p.c.
1855
$749,683
29.36
$11,186
$14,807
$392
$26,385
$26,395
nil.
nil.
1856
1,369,380
54,00
21,603
25,719
1,036
48,358
48,358
"
"
1857
1,555,529
75.36
28,050
22,617
3,032
53,699
25,693
28,006
"
"
1858
1,587,028
75.36
50,119
38,428
5,838
94,385
49,672
44,713
"
"
1859
1,594,956
7536
51,339
42,413
6,295
100,047
52,466
47,581
"
"
5 yrs
$6,856,576
309 44
162,297
143,984
16,593
322,874
202,574
120,300
"
"
Aver
1,371,315
61.88
32,459
28,797
3,319
64,575
40,515
24,060
"
"
PLATTSBURG AND MONTREAL RAILROAD.
(Financial year ending 30th September, 1859.)
MOSES K. PLATT, Superintendent and Receiver
Plattsburg, N.Y.
PRINCIPAL OFFICE
PLATTSBURG, Clinton Co., N.Y.
LENGTH OF RoAD-Plattsburg to the Canada Line
23.17 miles.
Second track, including sidings, etc., 4.96 miles.
ROLLING STOcK-Locomotive engines
3
Cars (8-wheel) :-Passenger, 3; baggage, mail and express, 2; freight, 22. 27
The Plattsburg and Montreal Railroad Company was organized under the
general law, and filed articles of association on the 28th March, 1850.
An act of the Legislature previously declared the public utility of a railroad
from Plattsburg to the Canada Line. The work of construction was com-
menced in 1851, and the road was opened for public use from Plattsburg to
Mooer's and a junction with the Northern Railroad, 201 miles, on the 26th
July, 1852, and to the Province line on the 20th September of the same year.
At the latter point it meets the Montreal and New York road extending
from the St. Lawrence. The Company being in default on interest, pro-
ceedings were commenced on behalf of the bondholders, and the road sold
on the foreclosure of the 1st Mortgage, on the 24th September, 1858, for the
nominal sum of $150,000, the 1st Mortgage bondholders being the pur-
chasers. A new company has not yet been formed, and the road is operated
by a Trustee appointed by the Court. Since 1852 no reports have been
published by the Company, nor any statement showing the cost, earnings,
etc., of the road. Under the sale, the cost of the road is represented by the
amount of the purchase money. The earnings of the road for the past year
were $22,276; current expenses, $20,687. The earnings of the road since
its opening have probably not exceeded the cost of its maintenance and
running expenses.
SHARE CAPITAL (paid in, 30th September, 1852)-$174,042.
FUNDED DEBT (Old Company)-$300,000 in detail as follows-
1st Mortgage, 7 per cent., coupon bonds
$200,000
-dated 1st June, 1852, payable 1st July, 1862 interest payable 1st Jan.
and 1st July, in New York. The interest has remained unpaid since 1853.
2d Mortgage 7 per cont. coupon bonds
$100,000
-dated 1st Jan., 1853, and payable 1st Jan., 1868; interest payable 1st
Jan and 1st July, in New York. Interest on these bonds has not been paid.
COST OF ROAD AND EQUIPMENT (30th Sept., 1852)-$349,775.
Digitized by Google
300
NEW YORK-PANAMA.
PANAMA RAILROAD.
(Financial year ending 31st December, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
W. H. Aspinwall
New York City, N.Y.
Gouverneur Kemble, New York City, N.Y
Edwin Bartlett
"
"
Theodore W. Riley
"
"
Henry Chauncey
"
"
W. Whitewright, Jr.
"
"
Jas T. Soutter
"
"
John Stewart
"
"
Sam'l W. Comstock,
"-
"
Isaac Townsend
"
"
Edward Cunard
"
"
William Fellowes
"
"
DAVID HOADLEY, President
New York City, N.Y.
JOSEPH F. Joy, Secretary
"
"
AUGUSTUS HOFFMAN, Treasurer
"
"
GEORGE M. TOTTEN, Chief Engineer
Aspinwall, N.G.
ALEXANDER J. CENTER, Superintendent
"
"
PRINCIPAL OFFICE
No. 88 Wall street, NEW YORK CITY, N.Y.
LENGTH OF Road-Aspinwall to Panama
47 miles.
ROLLING STocK-Locomotive engines
11
Cars :-Passenger, 22; merchandise, 70; others, 50
142
The Panama Railroad Company is a corporation of the State of New York;
and was chartered 13th A pril, 1849, and organized in June following. Per-
mission had been previously obtained from the Government of New Granada
for the construction of the road, and on the 12th June, 1849, a definite con-
tract was concluded between the Company and that State. The work
of construction was commenced in 1850, and in March, 1852, trains
run over the first section from Aspinwall to Gatun, a distance of 71 miles,
and in July to Barbacoas, 231 miles. In February, 1854, the bridge over
the Chagres River having been completed, the trains were run to Obispo,
31 miles from Aspinwall, and on the 17th February, 1855, over the entire
line from Aspinwall to Panama, a distance of 471 miles.
The contract with the Government of New Granada secures to the Com-
pany the exclusive right to construct and maintain a railroad across the
Isthmus for a period of 49 years from the date of opening of the road for
public use-the Government reserving to itself the right to repossess itself
of the grant and purchase the road at the end of 20 years from the opening
thereof on the payment to the Company of $5,000,000; or at the end
of 30 years on the payment of $4,000,000, or at the end of 40 years on
the payment of $2,000,000, one year's notice of an intention to avail itself
of this privilege being first given. At the termination of the contract, the road
will become the property of the Government. Exclusive privilege is also se-
cured to the Company to use the ports at the termini, and all necessary lands
for the proper exercise of the privileges granted. The Government of New
Granada also granted to the Company all the lands necessary to be used in
the construction and working of the road, and for seaports, dry docks, river-
ports, landing places, wharves, places of lighterage, warehouses, stations,
hotels, and all the vacant lands on the island of Manzanilla. These grants
to revert to the Government on the termination of the contract.
A grant was also made to the Company of 100,000 fanegadas of vacant land
within the provinces of Panama and Veraguas, which may be increased to
150,000 fanegadas, if such quantity should be found at the disposal of the
government. The Company has liberty to select them in the continental por-
tion of these provinces. it being stipulated that in those which may be selected
on the line of the road, or in its vicinity, successive intervals of equal
Digitized by Google
NEW YORK-PANAMA.
301
extent shall be left to the government. If there should not be within Pana
ma and Veraguas vacant lands to the amount of 100,000 fanegadas, the de-
ficiency is to be made up from the continental parts of Cartagena, Santa-
Marta, Rio-Hacha, and Choco. These vacant lands are granted to the
Company in full ownership and in perpetuity.
The State also confers on the Company the following rights, franchises and
exemptions :-all the rights which the laws confer upon the executive admi-
nistration of national works; the security, use and preservation of its ways
of communication by police regulations proposed by Company, and approved
by the national executive; rates of transportion, port dues, board, storage,
etc., fixed by and modified at the pleasure of the Company; the exclusive
carriage of the mails from ocean to ocean; services of all kinds to be per-
formed exclusively by Company's own agents; the introduction, duty free, of
all implements, machines, tools, etc., intended for the construction, working,
and preservation of the road, and also the articles required for the subsist-
ence and clothing of the laborers employed on the work; the non-imposition
of taxes, or contributions, whether national, provincial, or municipal, on the
Company's property, or on passengers, money, merchandise, etc., which may
be transported across the isthmus. Foreigners settling on the Company's
lands are to be free from military duty, and forced contributions, for 20 years.
In compensation for the privileges conferred the Company contract to
carry the mails of New Granada free of cost; also the national troops, war-
like stores, arms, etc., etc., of the republic; and to pay to the government 3
per cent. of the total profits of the Company, and also 5 per cent. of the
mail earnings, which sum is to amount to at least $10,000 annually.
The Panama Railroad commences on Manzanilla Island, in Navy or
Limon Bay, in lat. 9° 21' 23" N., and long. 79° 53' 52" W., and about 17
miles east of Chagres River. This terminus is or a small indentation known
as Victor Bay, upon which is situated the town of Aspinwall. The line
then crosses the shoal waters of the bay, skirting the west shore of the
island for about three-quarters of a mile, when it crosses the Channel to the
main land. The line then follows the southern and eastern shore of Limon
Bay, until it reaches Rio Mindee. It then extends across the peninsula
formed by the Bay and the River Chagres, striking the bank of the latter op-
posite Gatun, 71 miles, from Aspinwall. It then follows the valley of Chagres
to the mouth of the Rio Obispo, crossing the river at Barbacoas by a bridge,
625 feet long. The line then follows the valley of the Obispo to the summit
between the two oceans, 371 miles from Aspinwall. This is passed by a cut,
one-quarter of a mile in length, and 24 feet in depth. After crossing the
summit, the line fulls into the valley of the Rio Grande, which it follows with
a grade of 60 feet to the mile for four miles; and crosses the Pedro Miguel,
Caimitillo and Cardenas rivers, near their entrance into the main river.
From thence the road extends across the savannas of Corasal and the swamp
of Corendu, cutting through a spur of the hill Ancon, and reaches the Pacific
Ocean in the northern suburb of the city of Panama. The highest point in
the road is 258.64 feet above the Atlantic and 242.70 feet above the Pacific
termini of the road. Of the whole line 23.40 miles are level, and 28.60 miles
straight. The rail used weighs from 56 to 58 pounds to the yard. The ties
used are lignum vita. The culverts and bridges are constructed entirely of
masonry and iron.
SHARE CAPITAL-Authorized, $7,000,000, in 7,000 $1,000 shares.
Paid in, - $4,973,000, on 4,973
"
Digitized by Google
302
NEW YORK-PANAMA.
FUNDED DEBT-$2,427,000 described as follows—
1st Mortgage 7 per cent. sterling bonds
$1,250,000
-dated 10th April, 1855, and payable, principal 10th April, 1865, and in
terest semi-annually, 10th April and 10th October, in London.
2d Mortgage, 7 per cent., sterling bonds
$1,150,000
-dated 20th February, 1857, and payable, principal 20th February, 1872,
and interest semi-annually, 20th February and 20th August, in London.
Convertible 7 per cent. bonds
$27,000
-payable in 1868, and interest semi-annually, 1st January and 1st July, at
the Company's office, New York.
FLOATING DEBT-None.
Cost OF ROAD AND EQUIPMENT, ETC.-$8,000,000. (No detail.)
STATEMENT FOR THE YEAR ENDING 31sT DECEMBER, 1859.
Receipts-
Disbursements-
Surplus of " Income Account" after
Operating expenses
$416,819
dividend 6th January, 1859
$535,109
Depreciation
40,000
Receipts for year 1859, viz.
Office expenses
25,207
Passenger earnings
$1,110,118
N. Grenada proportion of mail receipts
10,000
Freight (merchandise) earnings
602,392
Interest, with exchange and commission :
"
(treasure)
"
159,363
1st Mort. bonds (£450,000)
150,694
Mail transportation
"
100,000
2d Mort. bonds (£225,000)
77,770
Conv. bonds 1st July, $33,000, 31 p. c.
1,155
"
"
1st January, $27,000, "
945
Prem. of exchange on rem. to London
73,158
Div. No. 14, 1st July, '59, on $4,957,000
298,020
" No. 15, 3d Jan., '60, on $4,973,000
298,380
New Grenada, 3 per cont. on dividend
17,892
Appropriation to Sinking Fund
100,000
Income not divided
997,234
Total
$2,506,982
Total
$2,506.962
GENERAL STATEMENT, 31sT DECEMBER, 1859.
Dr.
Cr.
Construction and equipment
$8,000,000
Capital (4,973 shares)
$4,973,000
Stock in N. Atlantic S.S. Company
500,000
Convertible bonds
27,000
Steamer " Guatemala"
150,000
1st Mort. Sterling bonds, due 1865
1,250,000
Bonds due 1st Dec, 1859, and paid
550,000
2d
"
"
due 1872
1,150,000
Surplus income, 1859
997,234
Previous accumulations
802,766
Total
$9,200,000
Total
$9,200,000
COST, EARNINGS, EXPENSES, Erc., YEARLY, 1852-1859.
Cost of
Mile-
Gross Earnings
Operating Earnings,
Road, etc.
age.
Pass'er.
Freight.
Mails. Treasure.
Total.
expenses. less exp.
$
p.c.
'2.1,500,000
23.00
$204,690
$23,826
$64,421
$5,692
$298,629
$73,999
$224,630
$151,175
10
'3.2,500,000
23.00
226,919
44,948
113,685
31.046
416,598
113,950
302,648
210,928
91
'4.4,486,000
31 00
326,132
70,227
128,825
20.744
545,928
116,542
429,386
205,306
7
5.5,382,659
47.57
667,815
181,994
114,588
148,350
1,112,747
293,074
819,673
496,500
12
'6-7,454,586
47.57
774,510
348,567
158,278
158,621
1,439,976
356,054
1,083,922
585,060
12
7.7,775,619
47.57
742,250
378,577
112,058
144,478
1,377,363
470,637
906,726
594,331
12
'8.8,000,000
47.57
791,994
478,937
100,000
153,773 1,524,704
472,508 1,052,196
611,202
12
'9.8,000,000
47.57
1,110,118
602,392
100,000
159,363
1,971,873
492.026
1,479,847
614,292
12
45,098,864 313.65 4,844,428 2,129,468 S01,855 822,067 8,687,818 2,388,790 6,299,028 3,468,794
5,637,358 39.33 605,553 266,183 111,482 102,758 1,085,977 298,599 787,378 433,599 10.7
NOTE.-The expenses include the payment to the New Granadian Government on account of
mail service, amounting nt least to $10,000 annually; and the dividend, the three per cent. paid on
account of the profit of the road.
Digitized by
Google
NEW YORK-RENSSELAER AND SARATOGA.
303
RENSSELAER AND SARATOGA RAILROAD.
(Financial year ending 30th September, 1856.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
J. Van Schoonhooven
Troy, N.Y.
J. A. Griswold
Troy, N.Y.
D. Southwick
6.
"
Thomas White
"
"
E. T. Gale
"
"
George Dauchy
"
"
George B. Warren
"
"
J. M. Cook
Ballston,
"
George H. Warren
"
"
J. Knickerbacker
Waterford,
"
George H. Cramer
"
"
G. W. Kirkland
Brooklyn,
"
EDMUND SCHRIVER, President and Treasurer
Troy, N.Y.
L. H. TUPPER, Superintendent
"
"
PRINCIPAL OFFICE
TROY, Rensselaer Co., N.Y.
LENGTH OF ROAD-Troy to Ballston
25.26 miles-
Second track, sidings, etc., 2.01 miles.
Leased-Saratoga and Schenectady Railroad
21,50 "
Total length of road operated by Company
46.76 miles.
ROLLING STocK-Locomotive engines
5.
Cars (8-wheel) :-Passenger, 1st class, 11, and 2d class, 2; baggage, mail
and express, 7; freight, 63
83
The Rensselaer and Saratoga Company was chartered on the 14th April,
1832, and organized on the 8th May following. Construction was com-
menced in the fall of 1833, and the road completed as follows :-from Balls-
ton to Waterford, 21 miles, on the 19th August, 1835, and from Waterford
to Troy on the 19th March, 1836. On the 1st January, 1851, the Company
took a lease of the Saratoga and Schenectady Railroad, paying as rent
therefor $30,150 a year.
SHARE CAPITAL-Authorized, $610,000, in 6,100 $100 shares.
Paid in, - 610,000
"
"
FUNDED DEBT-$140,000 : in detail as follows—
1st Mortgage, 7 per cent., coupon bonds
$140,000
-dated 1st July, 1853, and payable, principal 1st July, 1863 ; interest semi-
annually, 1st Jan. and 1st July, in the city of Troy.
Cost OF ROAD AND EQUIPMENT-$901,025 : in detail as follows-
Graduation and masonry
$110,089
Land, land-damages and fences
$45,162
Bridges
254,904
Locomotives and snow ploughs
58,626
Superstructure, including iron
249,042
Passenger and baggage cars
38,009
Stations, buildings and fixtures
38,454
Freight and other cars
60,142
Engine and car houses, shops, etc
27,791
Engineering and agencies
18.536
INCOME ACCOUNT FOR THE YEAR ENDING 30TH SEPT., 1859.
Receipts-
Disbursements-
Passenger earnings
$129,001
Maintenance of way
$52,964
Freight
"
80,200
Repairs of rolling stock
17,804
Other sources
26,701
Operating expenses
56,365
Saratoga and Schenectady RR
32,254
Saratoga & Whitehall RR. Co. donation
3,420
Troy Union Track
7,406
Troy Union RR. Co. principal and int
12,443
Interest
10,469
Dividend 6 per cent
36,600
Surplus income
6,177
Total
$235,902
Total
$235,902
Digitized by Google
304
NEW YORK--ROCHESTER AND GENESEE VALLEY.
GENERAL LEDGER BALANCE SHEET, 1ST OcT., 1859.
Dr.
Cr.
Cost of Road
$734,248
Share Capital
$610,000
Cost of Equipment
166,777
Funded Debt
140,000
Surplus income
6,177
Earnings invested, etc
157,202
Total
$907,202
Total
$907,202
COST OF ROAD, EARNINGS, EXPENSES, ETC., YEARLY.
Cost of Road Mile-
Gross Earnings
Ex-
Net
Div
Year. & Equipm't. age.
Pass'ger.
Freight.
Mails, etc.
Total.
penses.
Earnings.
$
p.c.
1844
475,801
25.26
23,639
6,903
11,389
41,931
29,531
12,400
10,500
41
1845
475,801
25 26
28,458
6,936
9,781
45,175
33,943
11,232
12,000
4
1846
475,801
25.26
32,367
8,173
9,984
50,524
41,460
9,064
9,000
3
1847
475,801
25.26
40,563
9,403
11,302
61,268
37,718
23,550
21,000
7
1848
661,911
25.26
33,662
9,961
11,507
55,130
39,916
15,214
nil.
ni
1849
674,799
25.26
81.791
14,453
17,759
114,003
71,031
42,972
30,000
10%
1850
687,324
25.26
84,463
16,547
11,716
112,726
61,918
50,808
9,000
3
1851
723,865
25.26*
134,289
42,055
13,039
189,383
79,884
109,499
39,300
7
1852
774,494
26.26
135,473
57,837
19,768
213,078
116,341
96,737
42,658
7
1853
806,712
25.26
138,888
61,800
18,083
218,771
137,789
80,982
42,700
7
1854.
888,183
25 26
141,614
71,244
18,490
231,348
155,021
76,327
30,470
5
1855.
896,423
25 26
143,133
67,180
30,836
241,149
128,398
112,751
42,700
7
1856
898,805
25.26
139,191
71,382
27,349
237,922
163,739
74,183
48,800
8
1857
900,287
25.26
125,766
73,969
23,207
222,942
177,572
45,370
48,800
8
1858
900,550
25.26
115,088
66,088
27,046
208,222
151,316
56,906
18,300
3
1859
901,025
25.26
129,001
80,200
26,701
235,902
159,387
76,515
36,600
6
16
ys.
11,617,582
404.16
1,527,386
664,131
287,957
2,479,474
1,584,964
894,510
441,828
Aver.
726,099
25.26
95,461
41,508
17,998
154,967
99,060
55,907
27,614
5.6
ROCHESTER AND GENESEE VALLEY RAILROAD.
(Financial year ending 30th September, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
Daniel W. Fitzhugh
Geneseo, N.Y.
Samuel W. D. Moore
Rochester, N.Y.
Isaac Hills
Rochester, "
W illiam Windgett
"
"
H. S. Fairchild
"
"
A. D. Patchin
Buffalo,
"
Samuel Miller
"
"
John B. Murray
Mount Morris,
"
E. Whalen
"
"
John Magee
Bath,
"
N. Pickett
"
"
Freeman Clark
Rochester,
"
FREEMAN CLARK, President
Rochester, N.Y.
ISAAC HILLS, Treasurer and Secretary
"
"
HENRY O. FISK, Superintendent
"
"
PRINCIPAL OFFICE
ROCHESTER, Monroe Co., N.Y.
LENGTH OF RoAD-Rochester to Avon
18.45 miles.
Second track, sidings, etc., 1.25 mile.
The Rochester and Genesee Valley Railroad Company was organized under
the general law, and filed articles of association on the 2d July, 1851. The
work of construction was commenced in October, 1852, and the road com-
pleted in August, 1854. Since the 1st day of October, 1857, it has been
operated by the Buffalo, Corning and New York Railroad Company, and by
the successor to this-the Buffulo, New York and Erie Company. For the
six months ending March 31, 1858, the Rochester and Genesee Valley Rail-
Eleven months' operations.
Digitized by Google
NEW YORK-ROCHESTER AND GENESEE VALLEY.
305
road Company received 55 per cent of the gross earnings, and for the six
months ensuing the net earnings. On the 1st October, 1858, the road was
leased to the Buffalo, New York and Erie Railroad Company for a period
of ten years, the latter agreeing to keep the road in repair, and pay, as rent,
48 per cent of the gross earnings.
SHARE CAPITAL-Authorized, $800,000, in 8,000 $100 shares.
Paid in, - $557,560, on "
"
FUNDED DEBT-$150,000 : described as follows—
1st Mortgage, 7 per cent., coupon bonds
$150,000
-dated 1st Sept., 1854, and payable, principal, 1st Sept., 1864 ; and interest
semi-annually, 1st March and 1st Sept., in the City of New York.
FLOATING DEBT-$23,493.
COST OF ROAD AND EQUIPMENT-$653,927 : in detail as follows—
Graduation and masonry
$187,487
Engine and car houses
$7,278
Bridges
24,795
Land, land-damages and fences
154,076
Superstructure, including iron
219,430
Freight and other cars
1,776
Stations, buildings and fixtures
9,366
Engineering and agencies
49,718
LESSEE'S ACCOUNT OF OPERATIONS FOR THE YEAR ENDING 30TH SEPT., 1859.
Receipts-
Disbursemento-
Passenger earnings
$28,412
Maintenance of way
$4,502
Freight
"
14,364
Repairs of rolling stock
3,784
Mails, etc.
1,444
Operating expenses
11,273
Per centage R. and G. V. RR
21,226
Net earnings to B., N. Y. and E. RR
3,435
Total
$44,220
Total
$44,220
COMPANY'S GENERAL ACCOUNT FOR THE YEAR ENDING 30TH SEPT., 1859.
Receipts-
Disbursements-
Passenger earnings
$13,638
Floating debt
$6,921
Freight
"
6,894
Interest and coupons
12,471
Express, etc
694
Incidental expenses
714
Rent of real estate
258
Taxes
1,461
Cash, 1st October, 1858
241
Land damages, etc
3,288
Capital stock
3,948
Cash, 1st October, 1859
668
Total
$25,573
Total
$55,573
GENERAL LEDGER BALANCE SHEET, 1ST OcT., 1859.
Dr.
Cr.
Cost of road
$653,927
Share capital
$557,560
Profit and loss
77,126
Funded debt
150,000
Floating "
23,493
Total
$731,053
Total
$$731,053
COST, EARNINGS, EXPENSES, ETC., YEARLY.
Cost.
Mile-
Gross Earnings
Operating
Net
Div.
Year.
of Road.
age.
Pass'gers.
Freight.
Mails,
etc.
Total.
Expenses.
Earnings.
$
p.c.
1855
$593,961
18.45
$30,593
$11,055
$400
$42,048
$19,256
$22,792
nil.
nil.
1856
629,925
18.45
33,177
14,664
1,323
49,164
38,694
10,470
64
"
1857
648,088
1845
31,815
18,908
2,041
52,764
25,479
27,285
"
64
1858
653,539
18,45
24,625
11,082
1,573
37,280
19,933
17,347
"
=
1859
653,927
1845
28,412
14,364
1,444
44,220
19,559
24,661
"
"
5 yrs.
$3,179,440
92.25
148,622
70,073
6,781
225,476
122,921
102,555
"
"
Aver.
635,888
18.45
29,724
14,014
1,356
45,095
24,584
20,511
"
"
39
Digitized by
Google
306
NEW RORK-ROCHESTER AND SYRACUSE.
ROCHESTER AND LAKE ONTARIO RAILROAD.
(Now a Branch of the New York Central Railroad.)
LENGTH OF Road-Rochester to Charlotte
6.88 miles.
Second track and sidings, 0.10 mile.
The Rochester and Lake Ontario Railroad Company was organized under the
general law, and filed articles of association on the 17th May, 1852. The
road was opened for public use in the fall of 1853, and leased to the Roches-
ter, Lockport and Niagara Falls Railroad Company. On the consolidation
of the latter Company with the Central, the lease was assumed by that Com-
pany, and in 1855, the share capital of the Rochester and Lake Ontario
Company was exchanged for a like amount of consolidated stock. The
amount of share capital at this time was $150,000, and the cost of the road,
etc., $151,882.-(See N. Y. Central Railroad).
ROCHESTER, LOCKPORT AND NIAGARA FALLS RAILROAD.
(Now a part of the New York Central.)
The Rochester, Lockport and Niagara Falls Railroad Company was the succes-
sor to the Lockport and Niagara Falls Railroad Company. The original
company was chartered in 1834, and its road, 23 miles long, was completed
and opened in 1838, at a cost of $197,000. It was, in the fashion of the times,
a cheaply constructed and unproductive structure. In 1850, the name of the
company was changed to that of the Rochester, Lockport and Niagara
Falls Railroad Company; and articles of association, under the general
railroad law of the State, were filed 14th December, 1850. The new com-
pany soon after commenced the reconstruction of the old road, and the con-
struction of the link between Lockport and Rochester, 531 miles. The whole
line was completed about the 1st July, 1852. In 1853 it was consolidated
into the New York Central Railroad, which see. The cost of the road and
equipment at that time was $2,343,388; the amount of Share Capital paid
in $2,442,100; Funded Debt, $389,000. The earnings of the road from the
date of its opening to the consolidation, a period of 13 months, was $309,848
working expenses, $115,392; net earnings, $194,456, out of which a dividend
of 3 per cent., amounting to $58,957, was paid.
ROCHESTER AND SYRACUSE RAILROAD.
(Now a part of the New York Central Railroad.)
LENGTH OF Road-Rochester to Syracuse (old)
104.00 miles.
Rochester to Syracuse (direct)
80.70
"
Total length of road owned by Company
184.70 miles.
The Rochester and Syracuse Railroad Company was formed by the consolida-
tion of the Auburn and Rochester and the Auburn and Syracuse Railroad
Companies. The Articles of Association were filed on the 1st Aug., 1850.
At the same time the new Company consolidated with the Syracuse and
Rochester (Direct) Railroad Company, and filed Articles of Consolidation on
the 6th August, 1850. The last-named road was completed and opened to
public use in 1853. In the same year the Company consolidated into the
New York Central Railroad Company, which see.
Digitized by
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NEW YORK-SACKETT'S HARBOR AND ELLISBURG.
307
At the date of the last report of the company (30th Sept., 1853) the Share
Capital amounted to $5,606,700 ; the Funded Debt to $756,000, and the
Floating Debt to $60,000. The cost of the road and equipment was $6,506,301.
COST, EARNINGS, EXPENSES, ETC., YEARLY.
Cost of
Mile-
Gross Earnings
Operating
Net
-Div.-
Year. Road,&c.
age.
Pass'r. Freight. Mails, etc. Total. expenses. Earnings.
$
p.c.
1850*
$4,200,000
104.00
$176,991
$24,445
$201,436
$60,876
$140,560
nil.
nil.
1851 4,861,362
104.00
690,948
237,531
22,033
950,512
320,976
629,536
370,689
10
1852 6,006,778
104.00
682,829
273,344
32,193
988,366
438,542
549,824
404,185
8
1853+ 6,506,301
184.70
533,690
347,981
23,315
904,986
521,563
383,423
280,195
5
3
yrs.
21,574,441
496.70
2,084,458
883,301
77,541
3,045,300
1,341.957
1,703,343
1,055,069
Aver.
5,393,610
124.17
694,819
294,433
25,847
1,015,100
447,319
567,781
351,689
71
RUTLAND AND WASHINGTON RAILROAD.
(See Rutland & Washington Railroad, Vermont; and also Troy & Rutland, N.Y.)
SACKETT'S HARBOR AND ELLISBURG RAILROAD.
(Financial year ending 30th September, 1859.)
LENGTH OF RoAD-Sackett's Harbor to Pierrepont Manor
18.50 miles.
Second track, sidings, turnouts, etc., 1.20 mile.
ROLLING STOcK-Locomotive engine (borrowed)
1
Cars (8-wheel) :-Passenger, 1; baggage, etc., 1; freight, 32
34
The Sackett's Harbor and Ellisburg Railroad Company was organized under
the general law and filed articles of association on the 16th July, 1851. The
road was finished and brought into use on the 1st June, 1853. On the 15th
December, 1858, the whole property.was sold under foreclosure for the bene-
fit of the first bondholders. No report of the Company's doings has been
made since 1856. The road has not been run for some time past, and may
be considered as abandoned as a public highway.
SHARE CAPITAL-Authorized, $175,000, in 3,500 $50 shares.
Paid in, - $167,485 on
"
"
FUNDED DEBT-$278,400 : described as follows—
1st Mortgage, 7 per cent., bonds
$128,400
-dated 1852, and payable, principal and interest, in New York.
2d Mortgage 7 per cent. bonds
$150,000
-dated 1854, and payable, principal and interest, in New York.
FLOATING DEBT-$56,810.
COST OF ROAD AND EQUIPMENT-$389,310 in detail as follows—
Graduation and masonry
$154,699
Engine and car houses, shops, etc.
$2,000
Bridges
6,719
Land, land-damages and fences
34,700
Superstructure, including iron
152,340
Freight cars
17,714
Stations, buildings and fixtures
5,475
Engineering and agencies
14,661
# Operations for two months only. t Operations for ten months, to 31st July, 1853.
Digitized by
Google
308
NEW YORK-SARATOGA AND SCHENECTADY.
Cost, EARNINGS, EXPENSES, ETC., YEARLY.
Cost of
Miles.
Gross Earnings
Operating Earn'gs,-Div-
Year.
Road, &c.
of Road.
Passen'r.
Freight.
Mails,etc.
Total.
expenses.
less exp.
$
p.c.
1853
$386,894
18.50
$2,388
$1,134
$318
$3,840
$1,908
$1,932
nil.
nil.
1854
399,210
18.50
3,376
5,876
1,174
10,426
6,009
4,417
"
"
1855
389,310
18.50
4,278
5,120
1,304
10,702
7,126
3,576
"
"
1856
389,310
18.50
3,004
7,571
1,450
12,025
12,025
"
"
$1,554,724
74.00
13,046
19,701
4,246
36,993
27,068
9,925
to
"
SACKETTS HARBOR AND SARATOGA RAILROAD.
(See Lake Ontario and Hudson River Railroad.)
SARATOGA AND SCHENECTADY RAILROAD.
(Financial year ending 30th September, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
W.H. Warren
Moreau, N.Y.
S. E. Warren
Troy, N.Y.
S. Norton
Troy, "
H.N. Lockwood
"
"
George M. Tibbits
"
"
J. M. Marvin
Saratoga Spa, "
George Tibbits
"
"
John Cramer
Waterford, "
L. G. B. CANNON, President
New York, N.Y.
E. SCHRIVER, Treasurer and Secretary
Troy, "
L. H. TUPPER, Superintendent
"
"
PRINCIPAL OFFICE
Troy Union Depot, TROY, Rensselaer Co., N.Y.
LENGTH OF RoAD-Saratoga to Schenectady
21.50 miles
Second track, including sidings, 1.57 mile.
ROLLING STOCK-Locomotive engines
2
Cars :-Passenger, 1st class, 2; 2d class and emigrant, 1; freight, 10
13
The Saratoga and Schenectady Railroad Company was chartered on the 16th
February, and organized on the 18th May, 1831, Construction was com-
menced in September of the same year. The first section of the road, from
Schenectady to Ballston, 15 miles, was opened for public use on the 12th
July, 1832, and the whole road to Saratoga Springs, 211 miles, in 1833. On
the 1st January, 1851, it was leased to the Rensselaer and Saratoga Rail-
road Company, at a rent of $30,150 per annum.
SHARE CAPITAL-$300,000, in 3,000 $100 shares (all paid in).
FUNDED DEBT-$85,000 described as follows—
1st Mortgage, 7 per cent., coupon bonds
$83,000
-dated 14th October, 1850, and payable, principal from 1861 to 1866, and
coupons semi-annually, 1st January and 1st July, at Troy.
Other Funded Debt about $2,000, at 7 per cent.
INCOME ACCOUNT FOR THE YEAR ENDING 30TH SEPT., 1859.
Receipts-
Disbursements-
Rent of road
830,150
Contingent expenses
8719
Interest on bank deposits
85
Interest
6,055
Surplus from 1858
539
Dividends
22,500
Payment to reduce funded debt
1,500
Total
$30,774
Total
$30,774
Four months' operations.
Digitized by Google
NEW YORK-SARATOGA AND WHITEHALL.
309
Cosr OF ROAD, ETC., $480,684. No details reported.
Cost, EARNINGS, EXPENSES, ETc., YEARLY.
Cost of
Mile-
Gross Earnings
Operating Earnings,
-Div.-
Years.
Road, etc.
age.
Pass'er.
Freight.
Mails.
Total.
expenses.
less exp.
8
p.c.
1844..
$300,000
21.50
$28,067
$4,935
$2,735
$35,747
$26,209
$9,538
nil.
nil.
1845..
300,000
21.50
30,467
5,290
1,103
36,860
24,480
12,380
6,000
2.
1846..
300,000
21.50
27,450
4,668
32,118
26,358
5,760
18,000
6
1847
300,000
2150
36,501
5,602
1,693
43,796
30,288
13,508
nil.
nil.
1848.
331,036
21.50
33,518
5,685
1,412
39,615
27,116
12,499
"
.6
1849.
386,304
21.50
24,361
10,140
2,061
36,462
29,252
7,210
"
"
1850..
396,379
21.50
13,728
3,902
11,305
28,935
15,794
13,141
:
"
1851*.
462,131
21.50
19,572
605
17,967
7,500
21
1852..
471,567
21.50
29,900
1,925
27,975
15,000
5
1853..
472,190
21.50
30,150
1,827
28,323
15,000
5
1854..
478,591
21.50
Annual rent paid by the
30,150
1,545
28,605
15,000
5
1855..
480,020
31.50
Rensselaer and Saratoga
30,150
2,282
27,868
15,000
5
1856..
480,545
21.50
Company, $30,150.
30,191
2,005
28,186
15,000
5
1857.
480,684
21.50
30,201
777
29,424
15,000
5
1858..
480,684
21.50
30,197
717
29,480
7,500
21
1859..
480,684
21.50
30,235
719
29,516
22,500
71
16 yrs.
6,600,815
344.00
....
513,279
191,899
321,380
151,500
Aver..
412,551
21.50
32,080
11,994
20,086
9,468
3.1
.
SECOND AVENUE RAILROAD.
SIXTH AVENUE RAILROAD.
(See New York City Passenger Railroads.)
SARATOGA AND WHITEHALL RAILROAD.
(Financial year ending 30th September, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
John W. Thompson
Ballston Spa, N.Y.
James M. Marion Saratoga Springs, N.Y.
William H. Warren
Moreau, "
Michael J. Myers
Whitehall, "
Le Grand B. Cannon
New York, "
John Willard
Saratoga Springs,
"
William M. Vermilyea
"
"
Charles Cramer
Waterford,
"
James Forsyth
Troy, "
R. M. Blatchford
New York, "
J. M. Warren
"
"
John M. Davison Saratoga Springs, "
JOHN M. DAVISON, President and Superintendent
Saratoga Springs, N.Y.
WILLIAM H. WARREN, Treasurer and Secretary
Moreau, "
PRINCIPAL OFFICE
SARATOGA SPRINGS, Saratoga Co., N.Y.
LENGTH OF RoAD-Main Line, Saratoga Springs to Whitehall Lake
40.86 miles.
Branch Line, Whitehall to Vermont State Line
6.66
"
Total length of Main Line and Branch
47.52 miles.
Second Track, including turnouts and sidings, 3.87 miles.
Leased Line-Rutland and Whitehall RR., Vt. line to Castleton, 6.88
"
ROLLING STOCK-Locomotive engines
9
Cars :-Passenger, 1st class, 8, and 2d class, 4; baggage, mail and express,
4; freight, 80
96
The Saratoga and Whitehall Railroad Company is successor to the Washing-
ton Railroad Company, which was incorporated in 1834. The construction
Leased to Rensselaer and Saratoga Railroad Co. 1st Jan., 1851 not run last 3 months of 1850.
Digitized by Google
310
NEW YORK-SARATOGA AND WHITEHALL.
of its road was commenced in February, 1847, and completed as follows :-
from Saratoga Springs to Gansevoort, 10.16 miles, on the 11th August of the
same year; and from Gansevoort to Whitehall, 28.34 miles, on the 10th De-
cember, 1848. On the 1st October, 1850, the line was extended from White-
hall to the boundary line of Vermont, a distance of 6.88 miles; and on the
9th April, 1851, to Whitehall Lake, 2.14 miles. In 1855, the road was
sold at auction under a process for the foreclosure of the 2d Mortgage, and
purchased on account of the bondholders, for the sum of $276,195; being
the whole amount of principal and interest of the same. The road was
taken possession of by the purchasers on the 7th June following, when arti-
cles for the formation of a new company were filed, and the interest acquired
under the sale purchased by an issue of stock to the amount of $500,000.
SHARE CAPITAL-$500,000, in 5,000 $100 shares, (All paid in.)
FUNDED DEBT-$395,000: classified as follows—
1st Mortgage, 5 per cent., coupon bonds
$250,000
-dated 1st April, 1848, and payable, principal 1st April, 1858, and coupons
semi-annually, 1st April and 1st October, at New York. Covers the road
from Saratoga to Whitehall.
1st Mortgage, 7 per cent., coupon bonds
$100,000
-dated 1st Sept., 1849, and payable, principal, 1st Sept., 1856 ; and interest
semi-annually, 1st March and 1st Sept., at New York. Covers the branch
from Whitehall to the Vermont State line.
New 7 per cent. bonds
$45,000
-dated 8th June, 1855, and payable, principal 1st March, 1858, and interest
semi-annually, 1st March and 1st September, at New York. Issued in pay-
ment for rolling stock, fuel, etc.
FLOATING DEBT-None.
COST OF ROAD AND EQUIPMENT-$895,421 : in detail as follows—
Graduation and masonry
$371,886
Land, land damages and fences
$76,148
Bridges
15,328
Locomotives and snow ploughs
38,732
Superstructure. including iron
261,149
Passenger and other cars
10,045
Stations, buildings and fixtures
29,658
Freight and other cars
26,127
Engines and car houses, shops, etc.
18,986
Engineering and agencies
48,362
INCOME ACCOUNT FOR THE YEAR ENDING 30TH SEPT., 1859.
Receipts-
Disbursements-
Passenger earnings
$83,513
Maintenance of way
$38,438
Freight
"
61,829
Repairs of machinery
16,301
Mail, etc
8,757
Operating expenses
52,077
Interest on bonds, and rent of Rutland
and Whitehall Railroad
40,790
Surplus income
6,492
Total
$154,090
Total
$154,099
GENERAL STATEMENT, 1ST Ocr., 1859.
Dr.
Cr.
Cost of Road
$820,517
Share Capital
$500,000
Cost of equipment
74,904
Funded Debt
395,000
Surplus fund
6,493
Profit and loss
6,914
Total
$901,914
Total
$901,914
Digitized by
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NEW YORK-SKANEATELES AND JORDAN RAILROAD.
311
COST, EARNINGS, EXPENSES, ETc., YEARLY.
Cost.
Mile-
Gross Earnings
Operating
Net
Div.
Year.
of Road.
age.
Pass'gers.
Freight.
Mails,
etc.
Total.
Expenses.
Earnings.
s
p.c.
1848.
$948,372
10 16
$3,567
$311
$3,888
$822
$3,066
nil.
nil.
1849
1,102,506
39.50
75,592
10.427
3,430
89,449
44,477
44,972
"
"
1850.
1,312,772
45.38
102,717
23,927
4,721
131,405
69,214
62,191
"
"
1851
1,452,635
47.52
131,094
28,698
5,092
164,884
82,870
82.014
53,172
6
1852
1,832,946
47.52
113,515
50,950
7,080
173,545
135,017
38,528
nil.
nil
1853
1,891,993
47.52
106,209
52,499
6,258
165,066
95,050
70.016
"
"
1854
1,891,993
47.52
115,813
59,369
8,777
183,959
163,502
20,457
"
"
"
"
1855.
1,891,993
47.52
{ +51,774
*58,111
39,981
4,911
103,007
86,202
16,805
17,360
2,775
71,909
49,823
22,086
"
"
1856.
886,531
47.53
101,380
59,264
8,587
169,231
131,961
37,270
25,000
5
1857
895,422
47.52
91,158
63,325
9,053
163,539
128,156
35,383
10,000
2
1858.
895,422
47.52
77,088
54,140
8,160
139,388
110,723
28,665
nil.
nil.
1859.
895,422
47.52
83,513
61,829
8,757
154,099
121,790
32,309
"
"
12 yrs.
15,898,007
522.72
1,113,532
522,180
77,607
1,713,369
1,219,607
493,762
89,172
Aver.
1,324,834
43.56
92,794
43,515
6,467
142,781
101,634
41,147
7,349
1.1
SCHENECTADY AND TROY RAILROAD.
(Now a part of the New York Central Railroad.)
LENGTH OF ROAD-Troy to Schenectady
20.50 miles.
Sidings and turnouts, etc., 1.68 miles.
The Schenectady and Troy Railroad Company was chartered in the year 1836.
The construction of the road was commenced in 1841, and completed to-
wards the end of 1842. In 1853 the Company was consolidated with others,
now forming the New York Central Railroad Company, which see.
At the date of the consolidation the cost of the road and equipment was
$698,873; Share Capital, $650,000; Funded Debt, $90,200; Floating Debt,
$3,579.
COST OF ROAD, EARNINGS, EXPENSES, ETC., YEARLY.
Cost of Road Mile-
Gross Earnings
Ex-
Net
Div
Year.
& Equipm't.
age.
Pass'ger. Freight. Mails, etc. Total.
penses.
Earnings.
p.e.
1843
$633,519
20.50
$26,354
$26,354
$30,409
(Loss)
nil.
nil.
640,799
20.50
31,067
1,578
217
32,862
26,280
6,582
"
"
1844
1845
641,540
20.50
28,244
3,070
2,048
33,362
27,560
5,800
"
"
1846
643,547
20.50
29,497
6,721
570
36,788
31,545
5,243
"
"
1847
658,366
20.50
33.222
12,319
570
46,121
38,337
7,784
"
"
1848
659,669
20.50
31,826
14,261
938
47,025
46,717
318
"
64
1849
672,910
20.50
26,693
19,611
1,340
47,644
43,455
4,189
"
"
1850
680,046
20.50
26,540
14,927
879
42,336
60,267
(Loss)
64
"
1851
681,046
20.50
28,652
16,264
1,331
46,247
56,268
"
"
"
1852
685,523
20.50
34,364
25,741
1,823
61,928
67,918
"
"
"
"
1853
698,873
20.50t
27,816
46,395
1,153
75,364
76,305
"
"
11 yrs.
7,255,838
225.50
324,275
160,887
10,869
496,031
505,061
(Loss)
"
"
Aver.
659,622
20.50
29,479
14,626
988
45,094
45,914
"
"
"
SKANEATELES AND JORDAN RAILROAD.
LENGTH OF RoAD-Skaneateles to Jordan
5.27 miles.
The Skaneateles and Jordan Railroad Company was chartered in 1836. The
road was built in 1843, at a cost of $28,000, and operated by horse-power
for several years. In 1851, it was abandoned as a public highway.
* Operations from 1st Oct., 1854, to 8th June, 1855. t Operations from 8th June to 30th Sept., 1855.
1 Ten months' operations.
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312
NEW YORK-STATEN ISLAND.
SOLUS POINT AND SOUTHERN RAILROAD.
(Financial year ending 30th September, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
Stephen Culver
Newark, N.Y.
John Tripler
Phelps, N.Y.
Horace Blackmar
"
"
William D. Cook
Sodus, "
Rhoderick Price
"
"
Benj. R. Loomis
"
"
Joseph A. Miller
"
"
Edward W. Sentell
"
"
Andrew O. Lamoreux Port Gibson, "
Joel H. Prescott
Newark, N.Y.
Albert Banta
Phelps,
"
Albert F. Cressy
"
"
HORACE BLACKMAR, President
Newark, N.Y.
JOSEPH A. MILLER, Treasurer
"
"
PRINCIPAL OFFICE
NEWARK, Wayne Co., N.Y.
LENGTH OF ROUTE-Sodus Point to Junction with Elmira, Jefferson and
Canandaigua Railroad
35 miles.
The Sodus Point and Southern Railroad Company was organized under the
general law, and filed articles of association on the 19th March, 1852.
Construction has been suspended since the summer of 1854.
SHARE CAPITAL-Authorized, $350,000, in 7,000 $50 shares.
Subscribed
$78,280 I Paid in
$31,586
FUNDED DEBT
None
FLOATING DEBT
$1,850
COST OF ROAD, ETC.-$35,298 in detail as follows—
Graduation and masonry
$21,351
I
Engineering and agencies
$8,563
Land, land damages and fences
5,384
Equipment
None purchased
STATEN ISLAND RAILROAD.
(Financial year ending 30th September, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
Albert Journeay
Southfield, N.Y.
Adolphus F. Ockerhausen, N. York, N.Y.
E. R. Bennett
Westfield, "
Alexander Hornby
"
"
Balthasa Kreischer
"
"
Thomas W. Strong
"
"
Ephraem T. Totten
"
"
Andrew Hood
Southfield, "
Francis Perkins
"
"
William King
Amboy, N.J.
OLIVER H. LEE, President
New York, N.Y.
STEPHEN SEGUINE, Treasurer
Westfield, "
LEVI D. BRUYN, Engineer
Ettingville, "
PRINCIPAL OFFICE
NEW YORK City, New York Co., N.Y.
LENGTH OF RoAD-Vanderbilt Landing to Tottensville
13.20 miles.
The Staten Island Railroad Company was organized under the general law
and filed articles of association on the 18th October, 1851. Construction
was commenced in November, 1855. No part of the road is completed.
The Company is authorized to own and run a steam-ferry in connection with
the road to and from New York City.
SHARE CAPITAL-Authorized, $300,000, in 6,000 $50 shares.
Paid in $50,603 on 1,393
"
Digitized by Google
NEW YORK-SYRACUSE, BINGHAMTON AND NEW YORK.
313
FUNDED DEBT-$41,200: described as follows-
1st Mortgage, 7 per cent., bonds
$41,200
-dated 1st June, 1859, and payable, principal in 20 years, and interest
1st June and 1st December, at New York. Total amount provided, $200,000.
FLOATING DEBT-$22,686.
COST OF ROAD AND EQUIPMENT-$114,015: in detail as follows—
Graduation and masonry
$46,283
35,985
I
Superstructure
$8,921
Land, land-damages, and fences
Engineering and agencies
22,825
SYRACUSE, BINGHAMTON AND NEW YORK RAILROAD.
(Financial year ending 30th September, 1859.)
JACOB M. SCHERMERHORN, President
Homer, N.Y.
E. B. Wicks, Treasurer
Syracuse, "
GEORGE HAVEN, Superintendent
"
"
PRINCIPAL OFFICE
SYRACUSE, Onondaga Co., N.Y
LENGTH OF RoAD-Syracuse to Binghamton
79.69 miles.
Union Railroad, from Syracuse terminus to the Erie Canal. 1.25 "
Second track, including sidings, 7.09 miles.
ROLLING Srock-Locomotive engines
13
Cars (8-wheel) :-Passenger, 1st class, 10, and 2d class emigrant, 2; bag-
gage, mail and express, 3; freight, etc., 114
129
The Syracuse and Binghamton Railroad Company was organized under the
general law, and filed articles of association 13th August, 1851. In 1848 an
act had been passed. declaring the public utility of a railroad from Syracuse
to Binghamton. The work of construction was commenced in 1852, and
the road opened on the 23d October, 1854. On the 1st of August, 1855, the
Company made default in the payment of interest on its 1st Mortgage Bonds,
in consequence of which, proceedings for a foreclosure of the mortgage
were taken, which resulted in the sale of the road on the 13th Oct., 1856, for
the amount of the first mortgage and interest. The purchasers formed them-
selves into a new Company, and filed articles of association on the 30th April,
1857, under the name of the Syracuse and Southern Railroad, which was
subsequently changed, by an act of the Legislature, to that of the Syracuse,
Binghamton and New York Railroad. An act was also obtained, confirm-
ing the proceedings for the purchase of the mortgage. On the 12th August,
1858, the Union Railroad, connecting the former with the Erie Canal at Syra-
cuse, was purchased for $133,984. In 1857, a perpetual contract for the
transportation of coal over the road was made with the Delaware, Lacka
wana and Western Company, whereby the latter agreed to transport, for the
first year, 75,000 gross tons of coal over the road, and at least 100,000 gross
tons annually thereafter, and to supply the necessary cars and locomotive
power for the purpose, and fuel after three years-the Syracuse, Bingham-
ton and New York Company to furnish the track and water for locomotive
engines, and to receive for the use of the same one cent per ton per mile for
the coal transported.
SHARE CAPITAL (Old Company)-Authorized, $1,200,130. Paid in, $768,369.
SHARE CAPITAL (New Company)-Authorized, $1,200,130. Paid in, 1,200,130.
40
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314
NEW YORK-SYRACUSE, BINGHAMTON AND NEW YORK.
FUNDED DEBT (Old Company)-$1,500,000 in detail as follows—
1st Mortgage, 7 per cent. coupon bonds
$1,200,000
-dated 1st February, 1854, payable in 20 years; interest payable on the
1st February and 1st August, in New York.
2d Mortgage, 7 per cent. coupon bonds
$300,000
-dated 5th January, 1855, payable in 4, 5, 6, 7, 8, 9 and 10 years, in equal
amounts; coupons on the 1st May and 1st November, in New York.
FUNDED DEBT (New Company)-$1,643,126 in detail as follows—
1st Mortgage, 7 per cent., coupon bonds
$1,400,000
-dated 18th October, 1856, and payable in 20 years; interest payable 1st
April and 1st Oct., in New York.
1st Mortgage, 7 per cent., coupon bonds, on the Union Railroad
$100,000
-dated 12th August, 1858, and payable in four equal annual payments from
and after 1st October, 1858; interest payable on the 1st April and 1st Oct.,
in New York. It was agreed by the Company that, if requested, these bonds
should be further secured by a mortgage on the Syracuse, Binghamton
and New York Railroad.
Debt Certificates
$143,126
These were issued on the 1st of October, 1858, in payment of overdue
coupons, and are payable in equal annual payments, on and after 1st Oct.,
1863; interest 7 per cent., payable at the Company's office.
FLOATING DEBT-$146,079.
COST OF ROAD AND EQUIPMENT-$2,851,292 in detail as follows-
Gross sum paid by present Company
Superstructure, including iron
$4,909
for road and equipments in Oct., '56.$2,666,488
Stations, buildings and fixtures
2,607
Gross sum paid for Union Railroad
Engine and car houses, machine shops, etc.
2,628
12th August, 1858
133,984
Land, land-damages and fences
11,979
Additions to construction account of
Locomotives and snow ploughs
373
present Company, viz.-
Passenger and baggage cars
1,150
Graduation and masonry
23,808
Freight and other cars
754
Bridges
254
Engineering and agencies
1,358
INCOME ACCOUNT FOR THE YEAR ENDING 30TH SEPT., 1859.
Receipts-
Disbursements-
Passenger earnings
$83,273
Maintenance of way
$28,604
Freight
"
107,399
Repairs of machinery, etc
12.948
Express
"
2,299
Operating expenses
42,695
Mail
.6
3,429
Interest
105,304
Surplus earnings
6,851
Total
$196,402
Total
$196,402
GENERAL LEDGER BALANCE SHEET, 1ST OcT., 1859.
Dr.
Cr.
Cost of S., B. and N. Y. RR
$2,666,488
Share capital
$1,200,130
"
Union RR
133,984
Funded debt
1,643,126
New construction account
48,544
Floating debt
146,079
" equipment
"
2,276
Profit and loss
8,036
Real estate
61,983
Expenses for September (since paid).
6,267
Sundry notes and accounts
22,357
Coupons due 1st October (since paid).
50,463
Interest due 1st October on certificates
of indebtedness (since paid)
5,009
Total
$2,997,371
Total
$2,997,371
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NEW YORK-SYRACUSE AND UTICA.
315
COST, EARNINGS, EXPENSES, ETC., YEARLY.
Cost of
Mile-
Gross Earnings
Operating
Net
Div
Year. Road, etc.
age.
Pass'er.
Freight. Mails, etc
Total.
expenses.
Earnings.
$
p.e.
1855
$2,272,777
79.69
$90,966
$63,879
$4,644
$159,489
$136,981
$22,508
nil.
nil.
1856
2,666,488
80.94
89,768
70,342
5,182
165,292
137,297
27,995
"
"
1857
2,693,168
80 94
88,570
76,806
5,720
171,096
137,614
33,482
"
"
1858
2,837,607
80.94
79,873
91,520
6,234
177,627
100,700
76,927
"
"
1859
2,851,292
80.94
83,274
107,399
5,729
196,402
84,247
112,155
"
6.
5
13,311,332
403.45
432,451
409,946
27,509
869,906
596,839
273,067
"
"
yrs.
Aver.
2,662,266
80.69
86,497
81,980
5,501
173,981
119,368
54,613
"
"
SYRACUSE AND ROCHESTER DIRECT RAILROAD.
(Now a Section of the New York Central Railroad.)
LENGTH OF RoAD-Syracuse to Rochester
80.00 miles.
The Syracuse and Rochester Direct Railroad Company was organized under the
general railroad law and filed articles of association on the 6th August,
1850. At the same time the Company entered into an agreement with the
Rochester and Syracuse Railroad Company (which see) for a transfer of its
property and franchise to that Company, by which its road was constructed.
SYRACUSE AND UTICA RAILROAD.
(Now a part of the New York Central Railroad.)
LENGTH OF RoAD-Syracuse to Utica
53.00 miles.
Second track, 53 miles, and sidings, 3.99 miles.
The Syracuse and Utica Railroad Company was chartered in March, 1836.
The work of construction was commenced in 1837, and the road fully opened
to public use on the 3d July, 1839. During a portion of 1838, and the early
part of 1838, the road was operated by horse-power. The road was origin-
ally constructed with the flat rail upon longitudinal sills. This gave place to
a heavy rail in 1847 and 8. The second track was laid in 1849. In 1853
the road was consolidated into the New York Central, which see. Cost at
that time $2,836,656 ; Share Capital, $2,070,000; Funded Debt, $126,000.
COST, EARNINGS, EXPENSES, ETC., YEARLY.
Cost of
Mile-
Gross Earnings
Operating
Net
Div.
Year.
Road,&c.
age.
Pass'r.
Freight
Mails, etc.
Total.
expenses.
Earnings.
$
p.o.
1839.
$956,981
53.00
$121,972
$850
$2,651
$125,373
$34,738
$90,735
$80,000
8
1840.
982,374
53.00
178,509
1,636
14,726
194,871
66,526
128,345
80,000
8
1841.
1,026,660
53.00
190,829
2,341
6,343
199,513
66,695
132,818
80,000
8
1842.
1,069,588
53.00
155,225
1,620
12,590
169,435
59,971
109,464
80,000
8
1843.
1,108,485
53.00
147,353
2,119
14,313
163,785
66,796
96,989
80,000
8
1844.
1,115,897
53 00
181,647
2,457
9,577
194,681
80,824
113,857
80,000
8
1845.
1,116,872
53.00-
182.485
12,946
8,858
204,289
105,795
98,494
80,000
8
1846.
1,128,940
53.00
229,708
19,623
8,305
257,636
124,932
132,704
80,000
8
1847.
1,132,582
53.00
285,942
52,494
11.744
350,180
124,632
225,548
80,000
8
1848-
1,968,036
53.00
296,832
70,491
16,046
383,369
120,575
262,794
100,000
8
1849.
2,363,043
53 00
326,526
97,858
8,159
432,543
189,566
242,977
180,000
9
1850.
2,490,084
53.00
366,077
90,879
15,819
472,775
202,728
270,047
190,280
8
1851
2,570,981
53,00
371,936
111,090
15,221
498,247
212,009
286,238
239,435
10
1852.
2,661,477
53.00
409,308
192,744
14,866
616,918
240,893
376,025
239,435
10
1853.
2,836,656
53.00*
318,516
215,302
15,577
549,395
289,004
260,391
119,830
5
15 ys.24,528,656
583,00
3,762,865
875,450
174,795
4,813,110
1,985,684
2,826,426
1,788,980
Aver. 1,635,243
53.00
250,857
58,363
11,653
320,873
132,379
188,493
119,265
8
# Ten months' operations.
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316
NEW YORK--TROY AND BENNINGTON.
THIRD AVENUE RAILROAD.
(See New York City Passenger Railroads.)
TONAWANDA RAILROAD.
(Subsequently a part of the Buffalo and Rochester, and now of the N. Y. Central.)
LENGTH OF Road-Rochester to Attica
43.50 miles.
The Tonawanda Railroad Company was chartered in 1832. The construc-
tion of the road was commenced in the fall of 1834, and completed from
Rochester to Batavia, 311 miles, in May, 1837. In 1842, it was extended to
Attica; and in 1850, the Company consolidated with the Attica and Buffulo
Railroad Company, under the title of the Buffulo and Rochester Railroad
Company, and filed articles of association on the 7th December, 1850. The
cost of the railroad at that time was $1,216,820; Share Capital, $1,000,000;
Funded Debt, $159,500; Floating Debt, 7,348.
COST, EARNINGS, EXPENSES, ETC., YEARLY.
Cost
Mile
Gross Earnings
Operating
Net
Div
Year.
of Road.
age.
Pass'gers.
Freight.
Mails,
etc.
Total.
Expenses.
Earnings.
s
P c.
1837
399,938
31.50
$40,072
$
$40,072
$20,474
$19,598
nil.
nil.
1838
399,938
31.50
40,072
40,072
20,474
19,598
"
"
1839
399,938
31.50
50210
50,210
23,850
26,360
"
"
1840
399,938
31.50
54,028
54,028
27,263
26,765
"
"
1841
399,938
31.50
46,554
46,554
27,048
19,506
"
64
1842
499,938
43.50
61,390
61,390
35,327
26,063
"
66
1843
567,499
43.50
76,237
76,237
48,606
27,631
"
"
1844
727,331
43.50
92,639
15,722
5,816
114,177
38,312
75,865
23,337
4
1845
751,053
43.50
89,897
20,311
6,570
116,778
36,006
79,772
50,670
9
1846
753,555
43.50
111,583
23,781
8,454
143,818
45,184
98,634
56,300
10
1847
805,530
43.50
155,993
27,684
11,074
194,751
55,719
139,032
57,000
10
1848
974,865
43.50
169,963
46,308
9,612
225,883
85,611
140,272
49,427
9
1849
1,150,968
43.50
189,284
60,014
9,976
259,274
90,298
168,976
71,400
71
1850
1,216,820
43.50
255,253
67,668
21,477
344,398
89,622
254,776
92,000
10
14
yrs.
9,448,249
589.00
1,433,175
261,488
72,979
1,767,642
664,794
1,102,848
400,134
Aver
674,875
84.14
102,370
18,677
5,213
126,260
47,485
78,775
28,581
41
TROY AND BENNINGTON RAILROAD.
(Financial year ending 30th Sept., 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
G.M.Selden
Troy, N.Y.
S. A. Battersball
Troy, N.Y.
Joel Mallory
"
"
Elias Johnson
"
"
Hiram Slocum
"
"
J. M. Corliss
"
"
A. B. Olin
"
"
C. H. Merritt
Hoosick,
"
Uri Gilbert
"
"
D. S. McNamara.
"
"
Russell Sage
"
"
P.S. Shrieves
"
"
LYMAN BENNETT, President
Troy, N.Y.
G. M. SELDEN, Secretary and Treasurer
"
"
J. V. BAKER, Superintendent
"
"
PRINCIPAL OFFICE
No. 96 Fourth street, TROY, Rensselaer Co., N.Y.
LENGTH OF ROAD-Hoosick Junction to Vermont State Line
5.38 miles.
Second track and sidings, 0.28 mile.
The Troy and Bennington Railroad Company was organized under the gene-
ral law, and filed articles of association on the 27th May, 1851. The road was
Digitized by Google
NEW YORK-TROY AND BOSTON.
317
opened for public use in August, 1852, and from that date leased to the Troy
and Boston Railroad Company for a term of 20 years; the said Company
to keep it in repair, and pay for its use 7 per cent. per annum on $100,000,
and 6 per cent. on the remainder of its cost.
SHARE CAPITAL-Authorized, $80,000, in 800 $100 shares.
Paid
in,
75,350 on 758
"
-
FUNDED DEBT-$172,000: classified as follows—
1st Mortgage, 7 per cent., convertible bonds
$97,700
-dated 20th January, 1852, and payable, principal 1st January, 1862, and
interest semi-annually, 1st Jan. and 1st July, in Troy. Covers roadway
alone. Total provision, $100,000.
2d Mortgage. 7 per cent., convertible bonds
$27,600
-dated 15th November, 1854, and payable, principal 1st January, 1862, and
interest semi-annually, 1st Jan. and 1st July. Covers roadway alone. Total
provision, $45,000.
Unsecured 7 per cent. bonds
$43,700
-dated 1st December, 1851, and payable, principal in 20 years, and interest
semi-annually, 1st Feb. and 1st August. Simple promises to pay. Total
provision, $100,000.
The interest on these bonds remains partly unsatisfied, in consequence of
the rent not having been fully paid by the lessee.
FLOATING DEBT-$150.
COST OF ROAD AND EQUIPMENT-$235,918: in detail as follows-
Graduation and masonry
$129,057
Stations, buildings and fixtures
$1,322
Bridges
27,220
Land, land-damages and fences
37,169
Superstructure, including iron
35,190
Engineering and agencies
5,960
Not including discount on the bonds, amounting to about $18,000.
The reports of the Troy and Boston Railroad (which see) cover the opera-
tions of this road.
CosT OF ROAD AND RENTS PAID ANNUALLY.
Rent rec'd
Rent rec'd
Year.
Cost.
Miles.
from lessee.
Year.
Cost.
Miles. from lessee.
1852
$236,992
5.38
15,220
1856
$259,053
538
15,400
1853
240,251
5.38
15,415
1857
262,860
5.38
13,700
1854
247,090
5.38
15,821
1858
264,037
5.38
3,165
1855
248,261
5.38
15,847
1859
235,918
5.38
10,066
TROY AND BOSTON RAILROAD.
(Financial year ending 30th Sept., 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
Jared S. Weed
Troy, N.Y.
Elias Johnson
Troy, N.Y.
Daniel Robinson
"
"
W. R. Yourtt
"
%
J. H. Willard
"
"
W. R. Swift
Schaghticoke,
"
Lyman Bennett
"
"
Amos Briggs
"
"
Jonas C. Heartt
"
"
L. C. Ball
Hoosick Falls,
y
R. A. Flood
"
"
L. Wilder
"
"
D. THOMAS VAIL, President
Troy, N.Y.
DANIEL ROBINSON, Treasurer
"
"
ISAAC V. BAKER, Superintendent
"
"
PRINCIPAL OFFICE
TROY, Rensselaer Co., N.Y.
Digitized by Google
318
NEW YORK-TROY AND BOSTON.
LENGTH OF ROAD-Troy to Vermont State Line
34,91 miles.
Second track, sidings, etc., 3.48 miles.
Leased Roads-Troy and Bennington Railroad
5.38 miles.
Western Vermont Railroad
59.50 "
Southern Vermont Railroad
6.12 "
Troy and Greenfield Railroad
7.03
"
78.03 "
Total length of road operated by Company
112.93 miles.
ROLLING STOcK-Locomotive engines
10
Cars (8-wheel) :-Passenger, 6; baggage, mail, and express, 4; freight, 67. 77
The Troy and Boston Railroad Company was organized under the general
law, and filed articles of association on the 22d November, 1849. An act
of the Legislature had previously declared the public utility of a railroad
from Troy to the easterly line of Rensselaer county; and in 1851 an act was
passed authorizing the Company to lease that part of the Western Ver-
mont Railroad from the State line to North Bennington, and to build a branch
from Hoosick Falls to the State line. The latter part of the act was exe-
cuted by the Troy and Bennington Company, whose road was completed in
August, 1852. The construction of the Troy and Boston was commenced
in June, 1850, and completed as follows :-from Troy to Eagle Bridge, 23.20
miles, in February, 1852; thence to Hoosick Falls Junction, 4.03 miles, in
August, 1853, and thence to the Vermont line, 7.68 miles, in March, 1859.
The Troy and Bennington Railroad is leased for 20 years from 1st Aug.,
1852-the Troy and Boston Company to keep it in repair, and to pay for its
use 7 per cent. on $100,000, and 6 per cent. on the remainder of its cost.
The Troy and Boston Company also operates the Western Vermont, the
Southern Vermont, and the Troy and Greenfield Railroads, Its relations
with these, and also with the Troy Union Railroad, are elsewhere described.
-(See these several railroads.)
SHARE CAPITAL-Authorized, $1,000,000, in 10,000 $100 shares.
Paid in, - $604,911, on 6,547
"
FUNDED DEBT-$806,500; classified as follows—
1st Mortgage, 7 per cent. bonds
$300,000
-dated 1st July, 1851, and payable, principal in 10 years, and interest
semi-annually, 1st January and 1st July, in New York.
2d Mortgage, 7 per cent., bonds
$200,000
-dated 1st March, 1852, and payable, principal 1st April, 1860, and in-
terest semi-annually, 1st April and 1st October, in New York.
3d Mortgage, 7 per cent., coupon bonds
$306,500
-dated 1st August, 1855, and payable, principal in 20 years, and coupons
semi-annually, 15th May and 15th November, in New York. Total provi-
sion, $650,000 the unsold remainder are to retire the 1st Mortgage bonds at
maturity.
FLOATING DEBT-$247,676.
COST OF ROAD AND EQUIPMENT-$1,510,513 in detail as follows—
Graduation and masonry
$764,915
Land, land damages and fences
$162,501
Bridges
28,826
Locomotives and snow ploughs
64,000
Superstructure, including iron
261,703
Passenger and baggage cars
19,500
Stations, buildings and fixtures
3,115
Freight and other cars
60,187
Engine and car houses, shops, etc
15,991
En rineering and agencies
129,274
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NEW YORK-TROY AND GREENBUSH.
319
INCOME ACCOUNT FOR THE YEAR ENDING 30TH SEPT., 1859.
Receipts-
Disbursements-
Passenger earnings
$95,219
Maintenance of road
$47,166
Freight
"
113,382
Repairs of rolling stock
10,794
Mail
"
7,318
Operating expenses
57,719
Express
"
2,770
Rents
51,400
Deficiency of earnings
25,662
Interest
77,272
Total
$244,351
Total
$244,351
GENERAL STATEMENT, 1ST OCTOBER, 1859.
Dr.
Cr.
Cost of road
$1,366,826
Share capital
$604,911
" equipment
143,687
Funded debt
806,500
Other assets
148,574
Floating debt
247,676
Total
$1,659,087
Total
$1,659,087
COST, EARNINGS, EXPENSES, ETC., YEARLY.
Cost of
Mile-
Gross Earnings
Operating
Net
Div.
Year.
Road, etc.
age.
Pass'er.
Freight. Mails, etc.
Total.
expenses.
Earnings.
$
p.o.
1852
$911,740
26.77
$32,826
$19,124
$1,149
$53,099
$25,350
$27,749
nil.
nil.
1853
1,080,405
27.23
83,263
66,680
4,175
154,118*
85,797*
68,321
6.
"
1854
1,107,873
27.23
76,250
70,985
5,413
152,648*
140,616*
12,032
"
"
1855
1,109,821
27.23
71,883
78,036
5,412
155,331*
101,178*
54,153
&
"
1856
1,251,282
27.23
72,734
83,564
5,360
161,658*
96,283*
65,375
"
"
1857
1,422,188
27.23
64,544
86,866
3,360
156,770*
90,944*
65,826
"
"
1858
1,422,188
27.23
53,813
65,819
3,410
125,042*
84,126*
40,916
"
"
1859
1,510,513
34.91
95,219
113,382
10,088
218,689*+
167,079*t
51,610
"
.6
8 yrs
9,816,010
225.06
550,532
584,456
42,367
1,177,355
791,323
386,032
"
"
Aver
1,227,001
28,13
68,810
73,057
5,296
147,169
98,915
48,254
"
"
TROY AND GREENBUSH RAILROAD.
(Financial year ending 30th September, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
Jonas C. Heartt,
David Buel, Jr.,
Elias Johnson,
Stephen E. Warren,
John L. Thompson,
John B. Gale,
H. N. Lockwood,
Thomas Symonds,
George D. Carter,
Philander Wells,
John H. Willard,
T. W. Lockwood.
JONATHAN EDWARDS, President
Troy, N.Y.
PHILANDER WELLS, Treasurer
"
"
PRINCIPAL OFFICE
TROY, Rensselaer Co., N.Y.
LENTH OF Road-Greenbush to Troy
6.00 miles.
Second track, including sidings, etc., 0.04 mile.
The Troy and Greenbush Railroad Company was chartered in 1845; and the
road was completed and brought into use on the 13th June of the same year.
On the 1st June, 1851, the road with its equipment, was leased for 999 years
to the Hudson River Railroad Company, the latter to keep the road in re-
pair and pay as rent therefor a sum equal to 7 per cent. per annum on the
Company's share capital.
SHARE CAPITAL-$275,000, in 5,500 $50 shares, (all paid in.)
COST OF ROAD AND EQUIPMENT-$294,731 : in detail as follows—
Graduation and masonry
$89,221
Land, land-damages, and fences
$65,109
Superstructure, including iron
55,836
Locomotive and snow-ploughs
Stations, buildings and fixtures
16,858
Cars, passenger and freight
-
36,073
Engine and car houses, etc
9,927
Engineering and agencies
21,706
Including Troy and Bennington Railroad, leased by Company. t Including from 1st January
the Western Vermont Railroad, and from 1st April the Southern Vermont, and the Troy and
Greenfield Railroads, operated by the Company.
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320
NEW YORK-TROY UNION.
COST, NET EARNINGS, EXPENSES, ETC., YEARLY.
Cost of
Miles.
Gross Earnings
Operating
Net
Year.
Road, &c.
of
Road.
Passen'r.
Freight.
Mails,etc.
Total.
expenses.
Earnnigs,
$
p.c.
1845
$233,371
6.00
$12,201
$3,647
$15,848
$5,981
$9,867
$7,843
31
1846
256,862
6.00
31,966
16,024
661
48,611
39,927
8,724
6,969
3
1847
270,827
6.00
36,367
26,784
678
63,829
42,756
21,073
nil.
nil.
1848
273,626
6.00
35,108
24,358
589
60,055
47,328
12,727
7,483
3
1849
275,425
6.00
30,990
25,107
1,111
57,208
44,467
12,741
7,483
3
1850
262,527
6.00
33,904
24,261
1,253
59,418
43,054
16,364
8,232
3
1851+
294,731
6.00
-
19,704
18,012
2,465
40,181
34,827
5,354
1.
5,497
484
17,504
2,865
}
nil.
nil.
"
14,388
20,369
6,416
3
1852
294,790
6.00
37,984
28,863
1,241
68,088
41,672
26,416
19,250
7
1853
294,790
6.00
41,846
42,346
1,941
86,133
78,536
7,597
$19,250
7
1854
294.790
600
36,447
49,982
4,314
90,745
89,024
721
$19,250
7
1855
294,731
6.00
29,527
48,990
3,142
81,659
77,075
4,584
$19,250
7
1856
294,731
6.00
$19,250
7
1857
294,731
6.00
Included in the statements of the Hudson River
$19,250
7
1858
294,731
6.00
Railroad Company.
$19,250
7
1859
294,731
6.00
419,250
7
15 yrs
4,245,394
90.00
198,426
Aver.
283,026
6.00
13,228
4.7
TROY AND RUTLAND RAILROAD.
LENGTH OF RoAD-Eagle Bridge to Salem
17.27 miles.
Second track and sidings, 2.75 miles.
The Troy and Rutland Railroad Company was organized under the general
railroad law of the State of New York, and filed articles of association on
the 2d July and 15th November, 1849. The whole length of the road
covered by the Company's charter is 32 miles; but that portion north of
Salem was built by the Rutland and Washington Railroad Company of
Vermont. The section between Salem and Eagle Bridge was completed in
1852, and leased at 6 per cent. per annum on its cost to the Vermont Company
during the existence of its charter. The transportation accounts of this Com-
pany are embraced in the reports of the Vermont Company, which has entire
control of the road.
Share Capital-$249,939, in full and part payment of 2,650 $100 shares
subscribed and awarded.
Funded Debt-$100,000, 1st Mortgage, 7 per cent. bonds.
These sums ($349.939) represent the cost of the road.
No report has been made by the Company since the 30th September, 1855,
to which year the above refers.-(See Rutland and Washington RR., Vermont.)
TROY UNION RAILROAD.
(Financial year ending 30th September, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
Cornelius L. Tracy,
D. Thomas Vail,
Daniel Robinson,
George H. Warren,
Elias Plum,
John L. Thompson,
John H. Willard,
George B. Warren,
Joseph M. Warren,
Jonas C. Heartt,
Jared S. Weed,
George H. Cramer,
Mayor of the City of Troy, Director, ex-officio.
ELIAS PLUM, President
Troy, N.Y.
WILLIAM H. BONESTED, Superintendent
"
"
JAMES FORSYTH, Treasurer and Secretary
"
"
PRINCIPAL OFFICE
Troy Union Depot, TROY. Rensselaer Co., N.Y
# Six and a half months' business, from 13th June to 31st December. t Eight months' business,
to June, 1851. 1 Four month's under lease. s Rent paid by Hudson River Railroad, and divided
semi-annually.
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NEW YORK-UNION (RAMAPO).
321
LYNGTH OF RoAD-Troy and Greenbush Railroad to Hoosick street
2.14 miles
Second track, 2.14 miles. Sidings, turnouts switches, etc., about 2 miles.
The Troy Union Railroad Company was chartered on the 20th of January,
1851, and organized under the general railroad law, and filed articles of as-
sociation on the 31st July, 1851. The corporators were the four companies
whose railroads entered the city of Troy, viz.; the Rensselaer and Saratoga,
the Schenectady and Troy, now a part of the New York Central; the Troy
and Greenbush, now a part of the Hudson River Railroad, and the Troy
and Boston Companies, each of which subscribed one-fourth of the share
capital. The charter authorized the city of Troy and the companies afore-
said to construct a railroad through the whole or any portiod of the city.
The work of construction was commenced in February, 1853, and the road
completed and opened for business on the 22d February, 1854. The object
of the work was to unite the several railroads entering the city. The income
of the Company is derived from tolls assessed upon the several companies in
proportion to the use they make of the road, but these are not to exceed,
(after deducting expenses), the interest on the cost of the road.
SHARE CAPITAL-Authorized, $30,000, in 300 $100 shares (all paid in.),
FUNDED DEBT-$680,000 : described as follows—
Troy City, 6 per cont., coupon bonds
$500,000
-dated 1st January, 1853, and payable, principal in 10 years, and coupons
semi-annually, 1st January and 1st July, in the city of New York.
Troy City, 6 per cent., coupon bonds
$180,000
-dated 1st January, 1857, and payable, principal in 10 years, and coupons
semi-annually, 1st January and 1st July, in the city of New York.
Both these classes of bonds are secured by a mortgage to the City upon
the Company's railroad and property, and also by guarantees to the City of
the several Companies, composing this Company, each respectively for one-
fourth the amount issued.
FLOATING DEBT-None.
COST OF ROAD, ETc.-$723,114 : in detail as follows—
Graduation and masonry
$149,633
Stations, buildings and fixtures
$119,900
Bridges
5,580
Land, land damages and fences
396,558
Superstructure, including iron
47,634
Engineering and agencies
12,810
Cost of
Maintain-
Oper'g
Int. fund.
Cost of
Maintain-
Oper'g
Int.
fund.
Year.
road.
ing, etc.
road.
debt.
Year.
road.
ing, etc.
road.
debt.
1854
$691,067
$1,051
$3,676
$19,774
1857
$732,114
$3,054
$8,053
$41,681
1855
731,432
3,710
5,796
42,450
1858
732,114
2,205
6,970
41,085
1856
732,114
3,849
9,137
42,278
1859
732,114
2,637
8,379
40,800
UNION (RAMAPO) RAILROAD.
LENGTH OF RoAD-Ramapo Junction to New Jersey Line
0.25 mile.
The Union Railroad Company was organized under the general law, and filed
articles of association the 20th January, 1851. The road was immediately
built, and on the 10th September, 1852, leased to the New York and Erie
Railroad Company in perpetuity, the latter agreeing to furnish and operate
the same in connection with and as part of its road, and pay a yearly rent
of $3,500, being 7 per cent on its cost.-(See New York and Erie Railroad.)
41
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322
NEW YORK-WILLIAMSPORT AND ELMIRA.
UNION (SYRACUSE) RAILROAD.
(Now a part of the Syracuse, Binghamton and New York Railroad.)
LENGTH OF ROAD-In the city of Syracuse
1.25 miles.
The Union Railroad Company was organized under the general railroad law
and filed articles of association on the 9th September, 1852. The road was
completed in 1857. In 1858 the Company obtained an act authorizing the
sale of the road to the Syracuse, Binghamton and New York Railroad Com-
pany, which was effected on the 12th August of the same year, for the sum
of $133,983.-(See Syracuse, Binghamton and New York Railroad.)
UTICA AND SCHENECTADY RAILROAD.
(Now a part of the New York Central Railroad.)
LENGTH OF Roan-Schenectady to Utica
78 miles
Second track, 78 miles. Sidings and turnouts, 10 miles.
The Utica and Schenectady Railroad Company was chartered in 1833. The
construction of the road was commenced in the latter part of 1834, and com-
pleted and the road opened on the 1st August, 1836. The rail first used
was the flat bar. In 1848, '49 and '50 the entire road was relaid with a heavy
rail, and a second track constructed. In 1853 the road was consolidated
into the New York Central, which see. At that date the cost of the road was
$4,296,728 Share Capital, $4,124,000; Funded Debt, $102,500. A consid-
erable share of the cost of the road was met by net earnings.
COST, EARNINGS, EXPENSES, Erc., YEARLY.
Cost.
Mile-
Gross Earnings
Operating
Net
-Div.-
Year. of Road.
age.
Pass'gers.
Freight. Mails, etc.
Total.
Expenses. Earnings.
p.e.
1836 $1,500.000
78.00
$168,051
$8,496
$176,547
$33,498
$143,049
$160,000
10
1837 1,708,000
78.00
298,266
19,211
317,477
122,738
194,739
160,000
10
1838.
1,738,052
78 00
312,808
24,900
337,708
126,632
211,076
160,000
10
1839.
1,855,000
78 00
375,309
31,364
406,673
131,584
275,089
160,000
10
1840.
1,901,785
78.00
343,206
38,136
381,342
137,506
243,836
160.000
10
1841.
1,968,609
78.00
367,050
43,435
410,485
156,631
253,854
160,000
10
1842.
2,022,094
78.00
300,000
34,385
334,385
154,424
179,961
160,000
10
1843.
2,124,013
78 00
320,000
28,297
348,297
133,759
214,538
160,000
8
1844.
2,168,665
78.00
306,279
9,402
29,580
345,261
132,838
212,423
160,000
8
1845.
2,189,505
78 00
358,810
41,770
15,489
416,069
147,557
268,512
160,000
8
1846.
2,189,505
78 00
347,536
65,296
15,564
428,396
167,821
260,575
160,000
8
1847.
2,833,380
78 00
509,782
153,102
35,830
698,714
234,243
464,471
160,000
8
1848.
3,161,688
78.00
556,885
206,682
32,672
796,239
328,108
468,131
528,200
19
1849.
4,006,428
78.00
533,953
251,034
39,284
824,271
403,497
420,774
333,015
10
1850.
4,143,918
78 00
595,472
255,669
72,285
923,426
308,173
615,253
356,000
10
1851.
3,971,155
78.00
560,524
251,599
45,496
857,619
281,303
576,316
412,400
10
1852.
4,093,273
78.00
619,904
361,656
48,214
1,029,774
305,004
724,770
412,400
10
1853.
4,296,728
78 00
491,635
411,812
57,752
961,199
347,204
613,995
791,200
20
18
ys.47,881,798
1404 0
7,365,470
2,008,022
620,390
9,993,882
3,652,520
6,341,362
4,753,215
Avor. 2,660,049
78.0
409,193
111,557
34,466
555,216
202,918
352,298
264,067
10+
WILLIAMSPORT AND ELMIRA RAILROAD.
The Williamsport and Elmira Railroad Company is a corporation of the State
of Pennsylvania, and owns the road extending from Williamsport, Pa., to
Elmira, N.Y., a distance of 75 miles, of which about 8 miles is in this State.
This section was constructed in pursuance of authority conferred on the
Company by a special act passed in 1850.-(See Pennsylvania.)
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NEW YORK-WATERTOWN AND ROME
323
WATERTOWN AND ROME RAILROAD
(Financial year ending 30th September, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
Philip Dater
New York, N.Y.
Calvert Comstock
Albany, N.Y.
Samuel F. Phelps
"
"
David Utley
Rome,
"
John P. Yelverton
"
"
Solon D. Hungerford
Adams,
"
Christian Zabriskie, Jr
"
"
Clark Rice
Watertown;
"
H. Alexander, Jr
Springfield, Mass.
0. V. Brainard
"
"
II. Gray
"
"
William Lord
Brownsville,
"
WILLIAM C. PIERREPONT, President
Pierrepont Manor, N.Y.
R. E. HUNGERFORD, Treasurer and Secretary
Watertown,
"
CARLOS DUTTON, Auditor and Superintendent
"
"
PRINCIPAL OFFICE
WATERTOWN, Jefferson Co., N.Y.
LENGTH OF ROUTE-Rome, via Watertown, to Cape Vincent
96.76 miles.
Second track, sidings, turnouts, etc., 11.12 miles.
ROLLING STocK-Locomotive engines
17
Cars (8-wheel) :-Passenger, 11; baggage, mail and express, 8; freight, 280. 299
The Watertown and Rome Railroad Company was chartered on the 17th
April, 1832, but not organized until the 6th April, 1847. Construction was
commenced in November, 1848, and the road was opened for business in
sections as follows:-fr Rome to Camden, 18 miles, in October, 1849; to
Richland, 42 miles, in January, 1851; to Adams, 59 miles, in July, 1851; to
Watertown, 72 miles, in September, 1851; to Chaumont, 86 miles, in Janu-
ary, 1852, and to Cape Vincent, 96} miles, in June, 1852.
In 1853, the Watertown and Rome Company guaranteed the bonds of
the Potsdam and Watertown Railroad Company, to the amount of $800,000,
bearing date 1st Dec., 1853, and payable as follows: $200,000 in 11 years
from date, $200,000 in 16 years, and $400,000 in 21 years. The Potsdam
and Watertown Company having made default in the payment of the interest
on these bonds, the Watertown and Rome Company have advanced $56,142
on account of the same.-(See Potsdam and Watertown Railroad.)
SHARE CAPITAL--Authorized, $1,500,000, in 15,000 $100 shares.
Paid in, - $1,498,500, in 14,985
"
FUNDED DEBT-$685,000 : described as follows—
1st Mortgage, 7 per cent. coupon bonds
$375,000
-issued at various dates from 1850 to 1855, and payable as follows $45,000
in 1861 $45,000 in 1862; $57,000 in 1863; $49,000 in 1864 $45,000 in
1865; $47,000 in 1866; $50,000 in 1867; $12,000 in 1868 $12,000 in
1869; $10,000 in 1870, and $3,000 in 1871-all on the 1st of September in
the several years; interest payable 1st March and 1st Sept., in New York.
2d Mortgage, 7 per cent., coupon Sinking Fund bonds
$310,000
-dated 15th August, 1855, and payable 1st September, 1880 interest pay-
able 1st March and 1st September, in New York. The total amount pro-
vided with this mortgage was 800,000. For the retirement of these bonds, a
Sinking Fund was created by the payment thereto of a sum equal to one
and a quarter per cent. on the whole amount of $800,000. At the date of the
last Annual Report, the amount of bonds retired by this fund was $46,000.
The sinking fund is to be invested in these bonds at par, or below; or in case
these cannot be obtained on the terms specified, then in interest-paying State
bonds worth par in the city of New York.
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NEW YORK-WATERTOWN AND ROME
COST OF ROAD AND EQUIPMENT-$2,159,502 : in detail as follows—
Graduation and masonry
$774,625
Land, land damages and fences
$178,198
Bridges
42,150
Locomotives and snow ploughs
126,036
Superstructure, including iron
637,515
Passenger and baggage cars
28,542
Stations, buildings, etc
120,930
Freight cars
165,136
Engine and car houses, shops, etc
43,216
Engineering and agencies
43,453
INCOME ACCOUNT FOR THE YEAR ENDING 30TH SEPTEMBER, 1859.
Receipts—
Disbursements-
Passenger earnings
$142,697
Maintenance of way
$67,566
Freight
"
204 156
Repairs of rolling stock
33,404
Rent. mail, etc
16,141
Operating expenses
107,273
Interest
52,369
Dividend 3 per cent
44,955
Surplus income
57,428
Total
$362,994
Total
$362,994
TREASURER'S ACCOUNT FOR THE YEAR ENDING 31sT DECEMBER, 1859.
Receipts-
Disbursements-
Earnings, 1st Jan. to 31st Dec, 1859 $359,146
Maintenance of road
$65.044
Bills receivable
8,166
Repairs of rolling stock
35,216
Interest
3,319
Operating expenses
108,321
Bonds (S. F.) sold and exchanged
25,000
Interest and discount
58,263
Cash on hand, and due from agents 1st
Dividend (3 per cent.)
45,464
Jan., 1859
30,698
Mortgage bonds cancelled
32,500
Bills payable cancelled
21,553
Annual contribution to Sinking Fund
10,000
Coupons P. and W. RR. Co
$46,742
Less cash received
18,600-28,142
Sundry accounts
5,722
Cash on hand, and due 1st Jan., 1860
16,104
Total
$426,329
Total
$426,329
The Company publish no general statement.
Cost, EARNINGS, EXPENSES, ETC., YEARLY.
Cost of
Mile-
Gross Earnings
Operating
Earnings,
-Div.-
Year.
Road,&c.
age.
Pass'r.
Freight
Mails, etc.
Total.
expenses.
less exp.
$
p.c.
1850.
8603,457
24.00
$1,043
$1,089
$2,132
$263
$1,869
nil.
nil.
1851.
1,133,397
72.00
57,871
48,132
7,865
93,868
35,561
58,307
"
"
1852.
1,693,711
96.76
110,635
104,497
10,028
225,160
108,446
116,714
81,513
10
1853.
1,957,991
96.76
145,392
181,878
9,681
336,951
161,807
175,144
127,609
10
1854.
2,040,543
96.76
154,637
222,796
13,544
390,977
219,758
171,219
67,993
5
1855.
2.068,063
96.76
155,363
232,820
16,191
404,374
231,899
172,475
48,028
31
1856.
2,096,910
96.76
156,865
258,799
18,559
434,223
245,398
188,825
189,375
131
1857.
2,159,693
96.76
155,899
228,894
19,415
404,208
243,498
160.710
119,777
8
1858.
2.159,295
96.76
138,227
235,237
18,509
391,973
232,667
159,306
88,117
6
1859.
2,159,502
96.76
142,697
204,156
16,141
362,994
208,243
154,751
nil.
nil.
8
yrs.18,072,562
870.08
1,202,216
1,708,298
129,933
3,046,860
1,687,540
1,359,320
724,203
Aver. 1,807,256
87.01
120,213
170,829
12,993
304,686
168,754
135,932
90,525
7
Nore.-Since the close of the fiscal year, ending September 30, 1859, the Company have
declared a dividend of 10 per cent. out of net earnings, payable in the Sinking Fund Bonds of
the Company.
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GENERAL RAILROAD LAW
OF THE
STATE OF NEW YORK.
As all Railroad Companies in this State organized since the passage of
this Law have been formed under its provisions, to which also all companies
previously organized are subject, a copy of the Law, with the more important
Amendments thereto, is given as an appropriate supplement to the history
of the Railroads of the State. This Law was formed in pursuance of the
provision of the 1st section of the 8th article of the Constitution of the State,
which is as follows:
'SECTION 1. Corporations may be formed under general laws, but shall not be created by special
act, except for municipal purposes and in cases where, in the judgment of the legislature, the
objects of the corporation cannot be attained under general laws. All general laws and special
acts passed pursuant to this section may be altered from time to time, or repealed."
AN Acr TO AUTHORISE THE FORMATION OF RAILBOAD CORPORATIONS, AND TO REQULATE THE
SAME, PASSED APRIL 2, 1850.
Organization of Railroad Companies.
SECTION 1. Any number of persons not less than twenty-five, may form a company for the
purpose of constructing, maintaining and operating a railroad for public use in the conveyance
of persons and property, or for the purpose of maintaining and operating any unincorporated rail-
road already constructed, for the like public use; and for that purpose may make and sign articles
of association, in which shall be stated the name of the company; ; the number of years the same
is to continue; the places from and to which the road is to be constructed, or maintained and
operated; the length of such road, as near as may be, and the name of each county in this state
through or into which it is made, or intended to be made; the amount of the capital stock of the
company, which shall not be less than ten thousand dollars for every mile of road constructed, or
proposed to be constructed, and the number of shares of which said capital stock shall consist, and
the names and places of residence of thirteen directors of the company, who shall manage its
affairs for the first year, and until others are chosen in their places. Each subscriber to such
articles of association shall subscribe thereto his name, place of residence, and the number of shares
of stock he agrees to take in said company. On compliance with the provisions of the next section,
such articles of association may be filed in the office of the Secretary of State, who shall endorse
thereon the day they are filed, and record the same in a book to be provided by him for that pur-
pose; and thereupon the persons who have 80 subscribed such articles of association, and all persons
who shall become stockholders in such company, shall be a corporation by the name specified in
such articles of association, and shall possess the powers and privileges granted to the corporations,
and be subject to the provisions contained in title three of chapter eighteen of the first part of
the Revised Statutes, except the provisions contained in the seventh section of the said title.
Filing Articles of Association.
SEC. 2. Such articles of association shall not be filed and recorded in the office of the Secretary
of State, until at least one thousand dollars of stock for every mile of railroad proposed to be made
is subscribed thereto, and ten per cent. paid thereon in good faith, and in cash, to the directors
named in said articles of association; nor until there is endorsed thereon, or annexed thereto, an
325
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GENERAL RAILROAD LAW OF NEW YORK.
affidavit made by at least three of the directors named in said articles, that the amount of stock
required by this section has been in good faith subscribed, and ten per cent. paid in cash thereon
as aforesaid, and that it is intended in good faith to construct or to maintain and operate the road
mentioned in such articles of association; which affidavit shall be recorded with the articles of
association as aforesaid.
Evidence of Incorporation.
SEC. 3. A copy of any articles of association filed and recorded in pursuance with this act, or of
the record thereof, with a copy of the affidavit aforesaid endorsed thereon or annexed thereto, and
certified to be a copy by the Secretary of this State, or his deputy, shall be presumptive evidence
of the incorporation of such company, and of the facts therein stated.
Additional Stock.
SEC. 4. When such articles of association and affidavit are filed and recorded in the office of the
Secretary of State, the directors named in said articles of association may, in case the whole of the
capital stock is not before subscribed, open books of subscription to fill up the capital stock of the
company, in such places and after giving such notice as they may deem expedient, and may con-
tinue to receive subscriptions until the whole capital stock is subscribed. At the time of sub-
scribing, every subscriber shall pay to the directors ten per cent. on the amount subscribed by him,
in money; and no subscription shall be received or taken without such payment.
Directors and their Election.
SEC. 5. There shall be a board of thirteen directors of every corporation formed under this act to
manage its affairs; and said directors shall be chosen annually, by a majority of the votes of the
stockholders voting at such election, in such manner as may be prescribed in the by-laws of the
corporation, and they may and shall continue to be directors until others are elected in their places.
In the election of directors, each stockholder shall be entitled to one vote, personally or by proxy,
on every share held by him thirty days previous to any such election; and vacancies in the board
of directors shall be filled in such manner as shall be prescribed by the by-laws of the corporation.
The inspectors of the first election of directors shall be appointed by the board of directors named
in the articles of association. No person shall be a director unless he shall be a stockholder,
owning stock absolutely in his own right, and qualified to vote for directors at the election at
which he shall be chosen; and at every election of directors, the books and papers of such com-
pany shall be exhibited to the meeting, if a majority of the stockholders present shall require it.
And whenever the purchaser or purchasers of the real estate, track and fixtures of any railroad
corporation which has heretofore been sold, or may be hereafter sold, by virtue of any mortgage
executed by such corporation, or execution issued upon any judgment or decree of any court, shall
acquire title to the same in the manner prescribed by law, such purchaser or purchasers may asso-
ciate with him and them any number of persons, and make and acknowledge and file articles of
association, as prescribed by this act, such purchaser or purchasers and their associates shall there-
upon be a corporation, with all the powers, privileges and franchises and be subject to all the
provisions of said act.
Officers.
SEC. 6. The directors shall appoint one of their number president; they may also appoint &
treasurer and secretary, and such other officers and agents as shall be prescribed by the by-laws.
Subscription and Non-payment.
SEC. 7. The directors may require the subscribers to the capital stock of the company to pay
the amount by them respectively subscribed, in such manner and in such instalments as they may
deem proper. If any stockholder shall neglect to pay any instalment as required by a resolution
of the board of directors, the said board shall be authorized to declare his stock, and all previous
payments thereon, forfeited for the use of the company but they shall not declare it 80 forfeited,
until they shall have caused a notice in writing to be served on him personally, or by depositing
the same in the post office, properly directed to him at the post office nearest his usual place of
residence, stating that he is required to make such payment at the time and place specified in said
notice; and that if he fails to make the same, his stock, and all previous payments thereon, will
be forfeited for the use of the company; which notice shall be served as aforesaid, at least sixty
days previous to the day on which such payment is required to be, made.
Stock, Transfers, etc.
SEC. 8. The stock of every company formed under this act shall be deemed personal estate, and
shall be transferable in the manner prescribed by the by-laws of the company, but no shares shall
be transferable until all previous calls thereon shall have been fully paid in and it shall not be
lawful for such company to use any of its funds in the purchase of any stock in its own, or in any
other corporation.
Increase of Stock.
SEC. 9. In case the capital stock of any company formed under this act, is found to be insufficient
for constructing and operating its road, such company may, with the concurrence of two-thirds in
amount of all its stockholders, increase its capital stock from time to time, to any amount required
for the purpose aforesaid. Such increase must be sanctioned by a vote in person, or by proxy, of
two-thirds in amount of all the stockholders of the company, at a meeting of such stockholders,
called by the directors of the company for that purpose, by a notice in writing to each stockholder
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GENERAL RAILROAD LAW OF NEW YORK.
327
to be served on him personally, or by depositing the same, properly folded and directed to him, at
the post-office nearest his usual place of residence, in the post-office, at least twenty days prior to
such meeting. Such notice must state the time and place of the meeting, and its object, and the
amount to which it is proposed to increase the capital stock. The proceedings of such meeting
must be entered on the minutes of the proceedings of the company, and thereupon the capital
stock of the company may be increased to the amount sanctioned by a vote of two-thirds in
amount of all the stockholders of the company as aforesaid.
Liability of Stockholders.
SEC. 10. Each stockholder of any company formed under this act, shall be individually liable to
the creditors of such company, to an amount equal to the amount unpaid on the stock held by him,
for all the debts and liabilities of such company, until the whole amount of the capital stock 80
held by him shall have been paid to the company and all the stockholders of every such company
shall be jointly and severally liable for all the debts due or owing to any of its laborers and
servants, other than contractors, for personal services for thirty days' service performed for such
company, but shall not be liable to an action therefor before an execution shall be returned unsa-
tisfied in whole or in part against the corporation, and then the amount due on such execution
shall be the amount recoverable, with costs, against such stockholders; before such laborer or
servant shall charge such stockholder for such thirty days' services, he shall give him notice in
writing, within twenty days after the performance of such service, that he intends 80 to hold him
liable, and shall commence such action therefor within thirty days after the return of such execu-
tion, unsatisfied, as above mentioned and every such stockholder, against whom any such recovery
by such laborer or servant shall have been had, shall have a right to recover the same of the other
stockholders in said corporation, in ratable proportion to the amount of the stock they shall respec
tively hold with himself; and all laws whereby the stockholders, officers and agents of any rail-
road corporation are made individually liable for the debts or liabilities of such corporation beyond
the provisions contained in the act entitled "An act to authorize the formation of railroad corpo-
rations, and to regulate the same," and the acts amending the same are hereby repealed.
Representative Stock.
SEC. 11. No person holding stock in any such company, as executor, administrator, guardian or
trustee, and no person holding such stock as collateral security, shall be personally subject to any
liability as stockholders of such company and the person pledging such stock shall be considered
as holding the same, and shall be liable as a stockholder accordingly and the estates and funds
in the hands of such executor, administrator, guardian or trustee, shall be liable in like manner,
and to the same extent as the testator, or intestate, or the ward or person interested in such trust
fund would have been, if he had been living and competent to act, and held the same stock in his
own name.
Payment of Laborers, and how enforced.
SEC. 12. As often as any contractor for the construction of any part of a railroad, which is in
progress of construction, shall be indebted to any laborer, for thirty or any less number of days'
labor performed in constructing said road, such laborer may give notice of such indebtedness to
said company in the manner herein provided and said company shall thereupon become liable
to pay such laborer the amount 80 due him for such labor, and an action may be maintained
against said company therefor. Such notice shall be given by said laborer to said company,
within twenty days after the performance of the number of days' labor for which the claim is
made. Such notice shall be in writing, and shall state the amount and number of days' labor,
and the time when the same was performed, for which the claim is made, and the name of the
contractor from whom due, and shall be signed by such laborer, or his attorney; and shall be
served on an engineer, agent or superintendent employed by said company, having charge of the
section of the road on which such labor was performed, personally, or by leaving the same at the
office or usual place of business of such engineer, agent or superintendent, with some person of
suitable age. But no action shall be maintained against any company under the provisions of
this section, unless the same is commenced within thirty days after notice is given to the company
by such laborer as above provided.
Acquiring Title to Land.
Sec. 13. In case any company formed under this act is unable to agree for the purchase of any
real estate required for the purposes of this incorporation, it shall have the right to acqu re title
to the same, in the manner and by the special proceedings prescribed in this act
Petition to Court-what it must contain.
SEC. 14. For the purpose of acquiring such title, the said company may present a petition, pray-
ing for the appointment of commissioners of appraisal, to the supreme court, at a general or special
term thereof held in the district in which the real estate described in the petition is situated
Such petition shall be signed and verified according to the rules and practice of such court. It
must contain a description of the real estate which the company seek to acquire; and it must, in
effect, state that the company is duly incorporated, and that it is the intention of the company, in
good faith, to construct and finish a railroad from and to the places named for that purpose in its
articles of association; that the whole capital stock of the company has been in good faith sub-
scribed as required by this act; th it the company has surveyed the line or route of its proposed
road, and made a map or survey thereof, by which such route or line is designated, and that they
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GENERAL RAILROAD LAW OF NEW YORK.
have located their said road according to such survey, and filed certificates of such location. signed
by a majority of the directors of the company, in the clerks' office of the several counties through
or into which the said road is to be constructed; that the land described in the petition is required
for the purpose of constructing or operating the proposed road; and that the company has not
been able to acquire title thereto, and the reason of such inability. The petition must also state
the names and places of residence of the parties, 80 far as the same can by reasonable diligence be
ascertained, who own or have, or claim to own or have estates or interests in the said real estate;
and if any such persons are infants, their ages, as near as may be, must be stated and if any of
such persons are idiots, or persons of unsound mind, or are unknown, that fact must be stated,
together with such other allegations and statements of liens or incumbrances on said real estate as
the company may see fit to make. A copy of such petition, with a notice of the time and place the
same will be presented to the supreme court, must be served on all persons whose interests are to
be affected by the proceedings, at least ten days prior to the presentation of the same to the said
court.
How SERVED.-1. If the person on whom such service is to be made, resides in this state, and
is not an infant, idiot or person of unsound mind, service of a copy of such petition and notice must
be made on him or his agent or attorney, authorized to contract for the sale of the real estate
described in the petition, personally, or by leaving the same at the usual place of residence of the
person on whom service must be made as aforesaid, with some person of suitable age.
2. If the person on whom such service is to be made resides out of the state, and has an agent
residing in this state, authorized to contract for the sale of the real estate described in the petition,
such service may be made on such agent, or on such person personally out of the state or it may
be made by publishing the notice, stating briefly the object of the application, and giving a de-
scription of the land to be taken, in the state paper, and in a paper printed in the county in which
the land to be taken is situated, once in each woek for one month next previous to the presents-
tion of the petition. And if the residence of such person residing out of this state, but in any of
the United States, or any of the British colonies in North America, is known, or can by reasonable
diligence be ascertained, the company must, in addition to such publication as aforesaid, deposit a
copy of the petition and notice in the post-office, properly folded and directed to such person at the
post-office nearest his place of residence, at least thirty days before presenting such petition to the
court, and pay the postage chargeable thereon in the United States.
3. If any person on whom such service is to be made is under the age of twenty-one years, and
resides in this state, such service shall be made as aforesaid on his general guardian; or if he has
no such guardian, then on such infant personally, if he is over the age of fourteen years; and if
under that age, then on the person who has the care of, or with whom such infant resides.
4. If the person on whom such service is to be made is an idiot, or of unsound mind, and
resides in this state, such service may be made on the committee of his person or estate; or if he
has no such committee, then on the person who has the care and charge of such idiot or person of
unsound mind.
5. If the person on whom such service is to be made is unknown, or his residence is unknown,
and cannot by reasonable diligence be ascertained, then such service may be made, under the
direction of the court, by publishing a notice, stating the time and place the petition will be pre-
sented, the object thereof, with a description of the land to be affected by the proceedings, in the
state paper and in the paper printed in the county where the land is situated, once in each week
for one month previous to the presentation of such petition.
6. In case any party to be affected by the proceedings is an infant, idiot, or of unsound mind,
and has no general guardian or committee, the court shall appoint a special guardian or committee
to attend to the interests of such person in the proceedings; but if a general guardian or com-
mittee has been appointed for such person in this state, it shall be the duty of such general guar-
dian or committee to attend to the interests of such infant, idiot or person of unsound mind and
the court may require such security to be given by such general or special guardian or committee
as it may deem necessary to protect the rights of such infant, idiot or person of unsound mind
and all notices required to be served, in the progress of the proceedings, may be served on such
general or special guardian or committee.
7. In all cases not herein otherwise provided for, service of orders, notices, and other papers in
the special proceedings authorized by this act, may be made as the supreme court shall direct.
Appraisal of Damages.
SEC. 15. On presenting such petition to the supreme çourt as aforesaid, with proof of service of a
copy thereof and notice as aforesaid all or any of the persons whose estates or interests are to be
affected by the proceedings may show cause against granting the prayer of the petition, and may
disprove any of the facts alleged in it. The court shall hear the proofs and allegations of the
parties, and if no sufficient cause is shown against granting the prayer of the petition, it shall
make an order for the appointment of three disinterested and compotent freeholders, who reside in
the county or some adjoining county where the premises to be appraised are situated, commis-
sioners to ascertain and appraise the compensation to be made to the owners or persons interested
in the real estate proposed to be taken in such county for the purposes of the company, and to fix
the time and place for the first meeting of the commissioners.
Hearing before Commissioners.
SEC. 16. The commissioners shall take and subscribe the oath prescribed by the twelfth article
of the constitution. Any one of them may issue supbeenas and administer iths to witnesses; a
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GENERAL RAILROAD LAW OF NEW YORK.
329
majority of them may adjourn the proceedings before them, from time to time in their discretion.
Whenever they meet, except by the appointment of the court or pursuant to adjournment, they
shall cause reasonable notice of such meetings to be given to the parties interested, or their agent
or attorney. They shall view the premises described in the petition, and hear the proofs and alle-
gations of the parties, and reduce the testimony taken by them, if any, to writing, and after the
testimony in each case is closed, they, or a majority of them, all being present, shall, without any
unnecessary delay, and before proceeding to the examination of any other claim, ascertain and
determine the compensation which ought justly to be made by the company to the owners or per-
sons interested in the real estate appraised by them; and in fixing the amount of such compensa-
tion, said commissioners shall not make any allowance or deduction on account of any real or sup-
posed benefits which the parties in interest may derive from the construction of the proposed rail-
road, or the construction of the proposed improvement connected with such road, for which such
real estate may be taken. They, or a majority of them, shall also determine what sum ought to
be paid to the general or special guardian or committee of an infant, idiot, or person of unsound
mind, or to an attorney appointed by the court to attend to the interests of an unknown owner or
party in interest, not personally served with notice of the proceedings, and who has not appeared,
for costs, expenses and counsel fees. The said commissioners shall make a report of their proceed-
ings to the supreme court, with the minutes of the testimony taken by them, if any; and they
shall each be entitled to five dollars for their services and expenses for every day they are actually
engaged in the performance of their duties, to be paid by the company.
Report-how confirmed.
SEC. 17. On such report being made by said commissioners, the company shall give notice to the
parties or their attorneys to be affected by the proceedings, according to the rules and practice of
said court, at a general or special term thereof, for the confirmation of such report and the court
shall thereupon confirm such report, and shall make an order, containing a recital of the substance
of the proceedings in the matter of the appraisal, and a description of the real estate appraised for
which compensation is to be made; and shall also direct to whom the money is to be paid, or in
what bank, and in what manner it shall be deposited by the company.
Order where recorded-ichat right is required. Appeal-New Appraisal.
Sec. 18. A certified copy of the order 80 to be made as aforesaid, shall be recorded at full length
in the clerk's office of the county in which the land described in it is situated; and thereupon, and
on the payment or deposit by the company of the suins to be paid as compensation for the land,
and for costs, expenses and counsel fees as aforesaid, and as directed by said order, the company
shall be entitled to enter upon, take possession of, and use the said land for the purposes of its
incorporation, during the continuance of its incorporate existence. by virtue of this or any other
act; and all persons who have been made parties to the proceedings shall be divested and barred
of all right, estate and interest in such real estate during the corporate existence of the company
as aforesaid. All real estate acquired by any company under and pursuant to the provisions of
this act, for the purposes of its incorporation shall be deemed to be acquired for public use.
Within twenty days after the confirmation of the report of the commissionors, as provided for in
the seventeenth section of this act, either party may appeal, by notice in writing to the other, to
the supreme court, from the appraisal and report of the commissioners. Such appeal shall be
heard by the supreme court, at any general or special term thereof, on such notice thereof being
given, according to the rules and practice of said court. On the hearing of such appeal, the court
may direct a new appraisal before the same or new commissioners, in its discretion; the second
report shall be final and conclusive on all the parties interested. If the amount of the compensa-
tion to be made by the company is increased by the second report, the difference shall be a lien
on the land appraised, and shall be paid by the company to the parties entitled to the same, or
shall be deposited in the bank, as the court shall direct; and if the amount is diminished, the dif-
ference shall be refunded to the company by the party to whom the same may have been paid;
and judgment therefor may be rendered by the court, on the filing of the second report against
the party liable to pay the same. Such appeal shall not affect the possession by such company of
the land appraised and when the same is made by others than the company, it shall not be
heard, except on a stipulation of the party appealing not to disturb such possession.
Adverse Claims to Compensation.
Sec. 19. If there are adverse and conflicting claimants to the money, or any part of it, to be
paid as compensation for the real estate taken, the court may direct the money to be paid into
the said court by the company, and may determine who is entitled to the same, and direct to
whom the same shall be paid ; and may, in its discretion, order a reference to ascertain the facts
on which such determination and order are to be made.
Curing defects in Proceedings, etc.
Skc. 20. The court shall appoint some competent attorney to appear for, and protect the rights
of any party in interest, who is unknown, or whose residence is unknown, and who has not appeared
in the proceedings by an attorney or agent. The court shall also have power at any time to
amend any defect or informality in any of the special proceedings authorized by this act, as may
be necessary or to cause new parties to be added, and to direct such further notices to be given,
to any party in interest, as it deems proper; and also to appoint other commissioners in place of
any who shall die, or refuse, or neglect to serve, or be incapable of serving.
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Proceedings when title is defective.
SEC. 21. If, at any time after an attempt to acquire title by appraisal of damages or otherwise,
it shall be found that the title thereby attempted to be acquired is defective, the company may
proceed anew to acquire or perfect such a title in the saine manner as if no appraisal had been
made; and at any stage of such new proceedings, the court may authorize the corporation, if in
possession, to continue in possession, and if not in possession, to take possession, and use such real
estate during the pendency and until the final conclusion of such now proceedings; and may stay
all actions or proceedings against the company on account thereof, on such company paying into
court a sufficient sum, or giving security as the court may direct, to pay the compensation therefor
when finally ascertained; and in every such case, the party interested in such real estate may
conduct the proceedings to a conclusion, if the company delays or omits to prosecute the same.
Map to be made and filed-notice to occupants-Objections how made-alteration of route-
Commissioners how paid.
SEC. 22. Every company formed under this act, before constructing any part of their road into
or through any county named in their articles of association, shall make a map and profile of the
route intended to be adopted by such company in such county, which shall be certified by the pre-
sident and engineer of the company, or a majority of the directors, and filed in the office of the
clerk of the county in which the road is to be made. The company shall give written notice to all
actual occupants of the land over which the route of the road is so designated, and which has not
been purchased by or given to the company, of the route 80 designated. Any party feeling
aggrieved by the proposed location, may, within fifteen days after receiving written notice as afore-
said, apply to a justice of the supreme court, out of court by petition, duly verified, setting forth
his objections to the route designated; and the said justice may, if he considers sufficient cause
therefor to exist, appoint three disinterested persons, one of whom must be a practical engineer,
commissioners to examine the proposed route, and after hearing the parties, to affirm or alter the
same, as may be consistent with the just rights of all parties and the public; but no alteration of
the route shall be made, except by the concurrence of the commissioner who is a practical civil
engineer. The determination of the commissioners shall, within thirty days after their appoint-
ment, be made and certified by them and the certificate filed in the office of the county clerk.
Said commissioners shall each be entitled to three dollars per day for their expenses and services,
to be paid by the person who applied for their appointment; and if the proposed route of the road
is altered or changed by the commissioners, the company shall refund to amount so paid.
Change of Route.
SEC. 23. The directors of every company formed under this act may, by a vote of two-thirds of
their whole number, at any time alter or change the route or any part of the route of their road,
if it shall appear to them that the line can be improved thereby and they shall make and file in
the clerk's office of the proper county, a survey, map and certificate of such alteration or change
and shall have the same right and power to acquire title to any lands required for the purposes of
the company, in such altered or changed route, as if the road had been located there in the first
instance and no such alteration shall be made in any city or village, after the road shall have
been constructed, unless the same is sanctioned by a vote of two-thirds of the common council of
said city or trustees of said village; and in case of any alteration made in the route of any rail-
road after the company has commenced grading, compensation shall be made to all persons for
injury 80 done to any lands that may havo been donated to the company. All the provisions of
this act relative to the first location, and to acquiring title to lands, shall apply to every such new
or altered portion of the route.
Crossing Highways, Intersections, etc.
Sec. 24. Whenever the track of a railroad constructed by a company formod under this act shall
cross H railroad, highway, turnpike or plank road, such highway, turnpike or plank road may be
carried under or over the track, as may be found most expedient; and in cases where an embank-
ment or cutting shull make a change in the line of such highway, turnpike or plank road desirable,
with a view to a more easy ascent or descent, the said company may take such additional lands
for the construction of said road, highway, turnpike or plank roak on such new line as may be
deemed requisite by the directors. Unless the lands so taken shall be purchased for the purposes
aforesaid, compensation therefor shall be ascertained in the manner prescribed in this act for
acquiring title to real estate, and duly made by said corporation to the owners and persons in-
terested in such lands. The same when 80 taken, shall become part of such intersecting highway,
turnpike or plank road, in such manner and by such tenure as the adjacent parts of the same
highway, turnpike or plank road may be hold for highway purposes.
State Lands how acquired.
Sec. 25. The commissioners of the land office shall have power to grant to any railroad company
formed under this act, any land belonging to the people of this state, which may be required for
the purposes of their road, on such terms as may be agreed on by them; or such company may
acquire title thereto by appraisal, as in the case of lands owned by individuals; and if any land
belonging to the county or town is required by any company for the purposes of the road the
county or town officers having the charge of such land may grant such land to such company, for
such compensation as may be agreed upon.
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Title how acquired from Trustee, Guardian, etc.
Sec. 26. In case any title or interest in real estate required by any company formed under this
act, for the purpose of its incorporation, shall be vested in any trustee not authorized to sell, re-
lease and convey the same, or in any infant, idiot or person of unsound mind, the supreme court
shall have power, by a summary proceeding on petition, to authorize and empower such trustee,
or the general guardian or committee of such infant, idiot or person of unsound mind, to sell and
convey the same to such company, for the purposes of its incorporation, on such terms as may be
just; and in case any such infant, idiot or person of unsound mind, has no general guardian or
committee, the said court may appoint a special guardian or committee for the purpose of making
such sale, release or conveyance, and may require such security from such general or special
guardian or committee as said court may deem proper. But before any conveyance or release
authorized by this section shall be executed, the terms on which the same is to be executed shall
be reported to the court, on oath ; and if the court is satisfied that such terms are just to the party
interested in such real estate, the court shall confirm the report. and direct the proper conveyance
or release to be executed, which shall have the same effect as if executed by an owner of said
land, having legal power to sell and convey the same.
Weight of Rail.
Sec. 27. No company formed under this act shall lay down or use in the construction of their
road, any iron rail of less weight than fifty-six pounds to the lineal yard, except for turnouts,
sidings and switches.
Powers conferred on Corporations, etc
SEC. 28. Every corporation formed under this act, shall in addition to the powers conferred on
corporations in third title of the eighteenth chapter of the first part of the revised statutes, have
power.
1. To cause such examination and surveys for its proposed railroad to be made, as may be
necessary to the selection of the most advantageous route; and for such purpose, by its officers or
agents and servants, to enter upon the lands or waters of any person, but subject to responsibility
for all damages which shall be done thereto.
GIFTS OF LANDS.-2. To take and hold such voluntary grants of roal estate and other property
as shall be made to it, to aid in the construction, maintenance and accommodation of its railroad;
but the real estate received by voluntary grant shall be held and used for the purposes of such
grant only.
To HOLD REAL ESTATE-3. To purchase, hold and use all such real estate and other property
as may be necessary for the construction and maintenance of its railroad, and the stations and
other accommodations necessary to accomplish the objects of its incorporation; but nothing herein
contained shall be held as repealing, or in any way affecting the act entitled an act authorizing
the construction of railroads upon Indian lands," passed May 12, 1836.
WIDTH OF ROAD.-4. To lay out its road not exceeding six rods in width, and to construct the
same; and for the purposes of cuttings and embankments, to take as much more land as may be
necessary for the proper construction and security of the road, and to cut down any standing trees
that may be in danger of falling on the road, making compensation therefor as provided in this
act for lands taken for the use of the company.
HIGHWAYS-ALLEYS AND STREAMS-STREETS.-5. To construct their road across, along or upon
any stream of water, water-course, street, highway, plank road, turnpike, or canal, which the route
of its road shall intersect ar touch; but the company shall restore the stream or water-course,
street, highway, plank road and turnpike thus intersected or touched to its former state, or to such
state as not unnecessarily to have impaired its usefulness. Every company formed under this act,
shall be subject to the power vested in the canal commissioners by the seventeenth section of
chapter two hundred and seventy-six, of the session laws of eighteen dred and thirty-four.
Nothing in this act contained shall be construed to authorize the erection of any bridge, or any
other obstruction across, in or over any stream or lake navigated by steam or sail boats, at the
place where any bridge or other obstructions may be proposed to be placed nor to authorize the
construction of any railroad not already located in, upon or across any streets in any city, without
the assent of the corporation of such city.
To CROSS AND UNITE WITH OTHER ROADS.-6. To cross, intersect, join and unite its railroad
with any other railroad before constructed, at any point on its route, and upon the grounds of
such other railroad company, with the necessary turnouts, sidings and switches, and other conve-
niences in furtherance of the objects of its connections. And every company whose railroad is or
shall be hereafter intersected by any new railroad, shall unite with the owners of such new rail-
road in forming such intersections and connections, and grant the facilities aforesaid; and if the
two corporations cannot agree upon the amount of compensation to be made therefor, or the points
and manner of such crossings and connections, the same shall be ascertained and determined by
commissioners to be appointed by the court as is provided in this act in respect to acquiring title
to real estate.
To CONVEY PERSONS AND PROPERTY-7. To take and convey persons and property on theis
railroad by the power or force of steam or of animals, or by any mechanical power, and to receive
compensation therefor.
BUILDINGS AND MACHINERY.-8. To erect and maintain all necessary and convenient build-
ings, stations, fixtures and machinery for the accommodation and use of their passengers, freights
and business.
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To REGULATE TIME AND FARE.-9. To regulate the time and manner in which passengers and
property shall be transported, and the compensation to be paid therefor; but such compensation,
for any passenger and his ordinary baggage, shall not exceed three cents per mile.
To BORROW MONEY-10. From time to time to borrow such sums of money as may be necessary
for completing and finishing or operating their railroad, and to issue and dispose of their bonds for
any amount 80 borrowed, and to mortgage their corporate property and franchises to secure the
payment of any debt contracted by the company for the purposes aforesaid; and the directors of
the company may confer on any holder of any bond issued for money borrowed as aforesaid, the
right to convert the principal due or owing thereon, into stock of said company, at any time not
exceeding ten years from the date of the bond, under such regulations as the directors may see fit
to adopt.
Canal Tolls. (Repealed.See Amendment)
SEC. 29. Whenever the railroad of any company formed under this act shall run parallel or
nearly parallel to any canal of this state, and within thirty miles of such canal, the company
owning such railroad shall pay to the canal fund, on all property transported upon its railroad other
than the ordinary baggage of passengers, the same tolls upon that portion of the road running
parallel to the canal, that would have been payable to the state if such property other than bag-
gage had been transported on any such canal and every such company shall make returns, at
such times and in such manner as the commissioners of the canal fund shall prescribe, of all the
property transported on its railroad, except ordinary baggage of passengers; and the said com-
missioners are authorized to prescribe the manners in which tolls 80 payable to the canal fund by
such company, shall be collected and paid, and to enforce the collection and payment thereof, and
to make such regulations as they shall deem proper for that purpose; and every such company
that shall neglect or refuse to comply with any such regulations, shall forfeit to the people of this
state the sum of five hundred dollars for every day it shall 80 neglect or refuse; and in every case
of such forfeiture, it shall be the duty of the attorney general to prosecute such company for the
penalty, in the name of the people.
Conductor and Serrants to Wear Badges.
SEC. 30. Every conductor, baggage master, engineer, brakeman, or other servant of any railroad
corporation employed on a passenger train, or at stations for passengers, shall wear upon his hat or
cap a tadge, which shall indicate his office, and the initial letters of the style of the corporation
by which he is employed. No conductor or collector without such badge shall be entitled to de-
mand or receive from any passenger any fare or ticket, or to exercise any of the powers of his
office; and no officer or servant, without such badge, shall have authority to meddle or interfere
with any passenger, his baggage or proporty.
Annual Report.
SEC. 31. Every railroad corporation formed under this act shall make an anuual report to the
State engineer and surveyor of the operations of the year ending on the thirteenth day of Sep-
tember; which report shall be verified by the oaths of the treasurer, or president, and acting
superintendent of operations, and be filed in the office of the state engineer and surveyor by the
first day of December in each year, and shall state:
1. The amount of capital as by charter. 2. The amount of stock subscribed. 3. The amount
paid in as by last report. 4. The total amount now of capital stock paid in. 5. The funded debt
by last report. 6. The total amount now of funded debt. 7. The floating debt as by last report.
8. The amount now of floating debt. 9. The total amount now of funded and floating debt. 10.
The average rate per annum of interest on funded debt.
Cosr OF ROAD AND EQUIPMENT-11. For gradation and inasonry by last report. 12. The total
amount now expended for the same. 13. The amount of bridges by last report. 14. The total
amount now expended for the same. 15. The amount for superstructure, including iron, by last
report. 16. The total amount now expended for the same. 17. For passengers and freight
stations, building and fixtures, by last report. 18. Total amount now expended for the same. 19.
For engine and car houses, machine shops, and machinery and fixtures, by last report. 20. Total
amount now expended for the same. 21. For land, land-damages and fences, by last report. 22.
Total amount now expended for the same. 23. For locomotives and fixtures and snow-plows, by
last report. 24. Total amount now expended for the same. 25. For passenger and baggage cars, by
last report. 26. Total amount now expended for the same. 27. For freight cars, as by last re-
port. 28. Total amount now expended for the same. 29. For engineering and agencies, by last
report. 30. Total amount now expended for the same. 31. Total cost of road and equipment.
CHARACTERISTICS OF ROAD.-32. Length of road. 33. Length of road laid. 34. Length of
double track, including sidings. 35. Length of branches owned by the company laid. 36. Length
of double track on the same. 37. Weight of rail by yard on main track. 38. The number of
engine houses and shops; of engines and cars, and their character. 39. It shall also be the duty
of each corporation to transmit to the state engineer and surveyor the following maps, profiles and
drawing exhibiting the characteristics of their roads; the map to show the length and direction
of each straight line, and the length and radius of each curve ; also the point of crossing of each
town and county line, and the length of line in each town and county accurately determined by
measurements to be taken after the completion of the road. The profile to be on the map, and
shall show the grade line and surface of ground in the usual method, also the elevation of grades
above tides at each change in the inclination thereof. The maps and profile to be made on &
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scale of five hundred feet to one tenth of a foot vertical scale of five hundred feet to one tenth
of a foot For all roads or parts of roads now done, or in operation, the said maps shall be returned
on or before the first day of January next; and for all roads now in progress, or which may here-
after be constructed, the said maps and profiles shall be returned within three months after the
same or any portion thereof shall be in use.
Doings OF THE YEAR IN TRANSPORTATION, AND TOTAL MILES RUN.-40. Miles run by passenger
trains. 41. Miles run by freight trains. 42. The rate of fare for passengers, charged for the
respective classes per mile. 43. Number of passengers carried in cars. 44. Number of miles
traveled by passengers. 45. Number of tons of two thousand pounds of freight carried in cars.
46. Number of miles carried, or total movement of freight in miles: all to be accurately compiled
from the daily records or evidences of earnings, manifest and way-bills. 47. Average rate of speed
adopted by ordinary passenger trains, including stops. 48. Average rate of speed adopted by
ordinary passenger trains when in motion. 49. Average rate of speed adopted by express trains
including stops. 50. Average rate of speed adopted by express trains when in motion. 51. Average
rate of speed adopted by freight trains, including stops. 52. Average rate of speed adopted by
freight trains when in motion. 53. Average weight in tons of two thousand pounds of passenger
trains, exclusive of passengers and baggage. 54. Average weight of tons of freight trains, exclu-
sive of freight. 55. The amount of freight, specifying the quantity in tons, of the products of the
forest, of animals, of vegetable food, other agricultural products, manufactures, merchandise and
other articles.
EXPENSES OF MAINTAINING THE ROAD OR REAL ESTATE OF THE CORPORATION.-56. For repair
of roads bed and railway, excepting cost of iron, which shall be the cost of labor and materials
used during the year also use and cost of engines engaged in ballasting; also the renewal and
repairs of gravel and stone cars, and all items of cost connected with keeping the road in order.
57. The depreciation of way. 58. Length, in feet, of iron used in renewals, with weight and cost.
59. Repairs of buildings. 60. Repairs of fences and gates 61. Taxes on real estate. 62. Total
expenses of maintaining road or real estate for the year. 63. Expenses of machinery or personal
property of the corporation. 64. Repairs of engines and tenders. 65. Depreciation of engines and
tenders. 66. Repairs of passenger and baggage cars. 67. Depreciation of passenger and baggage
cars. 68. Repairs of freight cars. 69. Depreciation of freight cars. 70. Repairs of tools and
machinery in shops. 71. Incidental expenses, including fuel, oil, clerks, watchmen about shops.
72. Total expenses of repair of machinery. 73. Office expenses, stationary. 74. Agents and clerks.
75. Labor, handling freight, loading and unloading. 76. Porters, watch and switchmen. 77. Wood
and water station attendance. 78. Conductors, baggage and brakemen. 79. Enginemen and
firemen. 80. Fuel (first cost, and labor preparing for use). 81. Oil and waste for engines and
tenders. 82. Oil and waste for freight cars. 83. Oil and waste for baggage and passenger cars.
84. Loss and damage of goods and baggage. 85. Damages for injuries of persons. 86. Damage
to property, including damages by fire, cattle killed on road. 87. General superintendence. 88.
Contingencies. 89. Total expenses of operating road. 90. The above statements are to be made
without reference to the suins actually received or paid during the year. The following statement
of the earnings and cash receipts and payments are required. 91 From passengers. 92. From
freight. 93. From other sources. 94. The above to be stated without reference to the amount
actually collected. 95. Receipts during the year from freight. 96. From passengers. 97. From
other sources, specifying what in detail. 98. Payments for transportation expenses. 99. For
interest. 100. Dividends on stock, amount and rate per cent. 101. Payments to surplus fund,
and the total amount of said fund. 102. The number of persons injured in life and limb, and the
cause of the injury, and whether passengers or persons employed. Whether any such accidents
have arisen from carelessness or negligence of any person in the employment of the corporation,
and whether such person is retained in the service of the corporation. 103. It shall be the duty
of the state engineer and surveyor to arrange the information contained in such reports in a tabular
form, and prepare the same, together with the said reports, in a single document, for printing, for
the use of the legislature on the first day of its sessions in each year. 104. All the items under
the heads of expenses of maintaining the road or real estate of the corporation expenses of machi-
nery or personal property of the corporation, expenses of use of road and machinery or operating
the road, shall be carried out under two heads, the one showing the cost of freight transportation,
the other the cost of passenger transportation. 105. The provisions of this section shall apply to
all existing railroad corporations; and the report of the said existing railroad corporations; made
in pursuance of the provisions of this section, shall be deemed to be a full compliance with the
existing law or resolution requiring annual reports to be made by such corporation.
Penalty for not reporting.
SEC. 32. Any such corporation which shall neglect to make the report as is provided in the pre-
coding section, shall be liable to a penalty of two hundred and fifty dollars, to be sued for in the
name of the people, for their use.
Legislature may alter fare.
SEC. 33. The legislature may, when any such railroad shall be opened for use, from time to
time, alter or reduce the rate of freight, fare, or other profits upon such road but the same shall
not, without the consent of the corporation, be 80 reduced as to produce with said profits less than
ten per centum per annum on the capital actually expended; nor unless on an examination of the
amounts received and expended, to be made by the state engineer and surveyor, and the comp-
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troller, they shall ascertain that the net income derived by the company from all sources for the
year then last past shall have exceeded an annual income of ten per cent. upon the capital of the
corporation actually expended.
Mails.
SEC. 34. Any such corporations shall, when applied to by the postmaster-general, convey the
mails of the United States on their road or roads respectively; and in case such corporation shall
not agree as to the rate of transportation therefor, and as to the time, rate of speed, manner and
condition of carrying the same, it shall be lawful for the governor of this state to appoint three
commissioners, who, or a majority of them, after fifteen days' notice in writing of the time and
place of meeting to the corporation, shall determine and fix the prices, terms and conditions afore-
said ; but such prices shall not be less for carrying said mails in the regular passenger trains, than
the amount which such corporation would receive as freight on a like weight of merchandise trans-
ported in their merchandise trains, and a fair compensation for the post-office car. And in case
the postmaster-general shall require the mail to be carried at other hours, or at a higher speed
than the passenger trains are run, the corporation shall furnish an extra train for the mail, and be
allowed an extra compensation for the expenses, and wear and tear thereof, and for the service to
be affixed as aforesaid.
Refusing to pay fare.
SEC. 35. If any passenger shall refuse to pay his fare, it shall be lawful for the conductor of the
train and the servants of the corporation to put him and his baggage out of the cars, using no
unnecessary force, at any usual stopping place, or at any dwelling house, as the conductor shall
elect, on stopping the train.
Arrival and departure of trains.
SEC. 36. Every such corporation shall start and run their cars for the transportation of passen-
gers and property. at regular times, to be fixed by public notice; and shall furnish sufficient
accommodation for the transportation of all such passengers and property, as shall within a reason-
able time previous thereto being offered for transportation at the place of starting and the junc-
tions of other railroads, and at usual stopping places established for receiving and discharging way
passengers and freights for that train; and shall take, transport and discharge such passengers and
property at, from and to such places, on the due payment of the freight or fare legally authorized
therefor; and shall be liable to the party aggrieved, in an action for damages, for any neglect or
refusal in the premises.
Baggage-arrangements
SEC. 37. A check shall be affixed to every parcel of baggage, when taken for transportation by
the agent or servant of such corporation, if there is a handle, loop or fixture, 80 that the same can
be attached upon the parcel of baggage 80 offered for transportation, and a duplicate thereof given
to the passenger or person delivering the same on his behalf; and if such check be refused on
demand, the corporation shall pay to such passenger the sum of ten dollars, to be recovered in a
civil action; and further, no fare or toll shall be collected or received from such passenger, and if
such passenger shall have paid his fare, the same shall be refunded by the conductor in charge of
the train; and on producing said check, if his baggage shall not be delivered to him, he may him-
self be a witness in any suit brought by him, to prove the contents and value of said baggage.
Forming Passenger Trains.
SEC. 38. In forming a passenger train, baggage, freight, merchandise, or lumber cars, shall not
be placed in rear of the passenger cars; and if they or any of them shall be 80 placed the officer
or agent who 80 directed, or knowingly suffered such arrangement, the conductor of the train shall
be deemed guilty of a misdemeanor, and be punished accordingly.
Bell-and Steam Whistle.
SEC. 39. (Repealed.)
Road Crossings.
SEC. 40. Every such corporation shall cause boards to be placed, well supported by posts or
otherwise, and constantly maintained across each traveled public road or street where the same is
crossed by the railroad, on the same level. Said boards shall be elevated 80 as not to obstruct the
travel, and to be easily seen by travelers; and on each side of such boards shall be painted in
capital letters, or at least the size of nine inches each, the words, "Railroad Crossing, look out for
the Cars." But this section shall not apply to streets in cities or villages, unless the corporation
shall be required to put up such boards by the officers having charge of such streets.
Intorication.
SEC. 41. If any person shall, while in charge of a locomotive engine running upon the railroad
of any such corporation, or while acting as the conductor of a car or train of cars on any such rail.
road, be intoxicated, he shall be deemed guilty of a misdemeanor.
Injuring Railroad Property.
SEC. 42. If any person or persons shall wilfully do, or cause to be done, any act or acts whate
ever, whereby any building, construction or work of any railroad corporation, or any engine,
machine or structure, or any matter or thing appertaining to the same, shall be stopped, obstruct-
ed, impaired, weakened, injured, or destroyed, the person or persons so offending shall be guilty
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GENERAL RAILROAD LAW OF NEW : ORK.
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of a misdemeanor, and shall forfeit and pay to the said corporation treble the amount of damages
sustained by means of such offense.
Penalties.
SEC. 43. All penalties imposed by this act may be sued for in the name of the people of the
state of New York; and if such penalty be for a sum not exceeding one hundred dollars, then
such suit may be brought before a justice of the peace, and may be commenced by serving a sum-
mons on any director of such company.
Fencing.
SEC. 44. Every corporation formed under this act, shall erect and maintain fences on the sides
of their road, of the height and strength of a division fence required by law, with openings, or
gates, or bars therein, and farm crossings of the road for the use of the proprietors of lands adjoin-
ing such railroad; and also construct and maintain cattle guards at all road crossings, suitable and
sufficient to prevent cattle and animals from getting on to the railroad. Until such fences and cattle
guards shall be duly made, the corporation and its agents shall be liable for all damages which
shall be done by their agents or engines, to cattle, horses, or other animals thereon; and after such
fences and guards shall be duly made and maintained, the corporation shall not be liable for any
such damages, unless negligently or wilfully done; and if any person shall ride, lend or drive any
horse or other animal upon such road, and within such fences and guards, other than at farm
crossings, without the consent of the corporation, he shall for every such offence forfeit a sum not
exceeding ten dollars, and shall also pay all damages which shall be sustained thereby to the party
aggrieved. It shall not be lawful for any person, other than those connected with or employed
upon the railroad, to walk along the track or tracks of any railroad, except where the same shall
be laid along public roads or streets.
Maps to be- Filed.
SEC. 45. Every corporation shall, within a reasonable time after their road shall be constructed,
cause to be made:
A map and profile thereof, and of the land taken or obtained for the use thereof, and file the
same in the office of the state engineer and surveyor; and also like maps of the parts thereof
located in different countics, and file the same in the offices for recording deeds, in the county in
which such parts of said road shall be. Every such map shall be drawn on a scale, on a paper, to
be designated by the state engineer and surveyor, and certified and signed by the president or
engineer of such corporation.
Duty of passengers.
SEC. 46. In case any passenger on any railroad shall be injured while on the platform of a car,
or on any baggage, wood, or freight car, in violation of the printed regulations of the company
posted up at the time in a conspicuous place inside of its passenger cars then in the train, such
company shall not be liable for the injury provided, said company at the time furnished room
inside its passenger cars sufficient for the proper accommodation of the passengers.
Road commenced and finished.
SEC. 47. If any corporation formed under this act shall not within two years after its articles of
association are filed and recorded in the office of the secretary of state, begin the construction of
its road, and expend thereon ten per cent. on the amount of its capital, or shall not finish the
road and put it in operation in five years from the time of filing its articles of association as afore-
said, its corporate existence and powers sh all cease.
Power of Legislature to dissolve, etc.
SEC. 48 The legislature may at any time annul or dissolve any corporation formed under this
act; but such dissolution shall not take away or impair any remedy given against any such corpo-
ration, its stockholders or officers for any liability which shall have been previously incurred.
Existing Corporations.
SEC. 49. All existing railroad corporations within this state shall respectively have and possess
all the powers and privileges contained in this act ; and they shall be subject to all the duties
liabilities and provisions not inconsistent with the provisions for their charter, contained in sections
nine, thirteen, fourteen, fifteen, sixteen, seventeen, eighteen, nineteen, twenty, twenty-one, twenty-
three, twenty-four, twenty-five, twenty-six, twenty-seven, twenty-eight, (except sub-division nine,)
thirty, thirty-one, thirty-two, thirty-three, thirty-four, thirty-five, thirty-six, thirty-seven, thirty-
eight, thirty-nine, forty, forty-one, forty-two, forty-three, forty-four, forty-five, forty-six, of this act.
General Repeal.
SEC. 50. The act entitled, "An act to authorize the formation of railroad corporations," passed
March 26, 1848. and the acts amending the same, are hereby repealed; but all railroad companies
formed under said act are hereby continued in existence, in the same manner as if said acts were
not repealed, and such companies shall be subject to all the provisions, and shall have the same
powers, rights and privileges, and be subject to the same duties, as if they had been incorporated
under this act and the time limited by said act, for the expenditure of ten per cent. of their
capital stock, is hereby extended two years from the passage of this act; and the time limited in
said section of said law for their completion, is hereby extended to five years from the passage of
this act; and also the time for completing any railroad organized previous to March 27, 1848,
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GENERAL RAILROAD LAW OF NEW YORK.
whose road was under contract prior to February 1, 1850, to be completed within the time prescribed
by its charter, is hereby extended one year.
New York and Erie Railroad.
SEC. 51. Nothing in this act contained shall authorize or permit the New York and Erie Rail-
road Company to abandon the use of their road in the county of Rockland, East of Suffern's Depot.
AMENDMENTS.
Amendments of the General Railroad Law, with the dates when passed:
Exempting Railroad Companies from Canal Tolls [Passed July 10, 1851.]
SEC. 1. It shall not be necessary for any Railroad Company in this State to pay any sums of
money into the treasury of this State on account of the transportation of property on any railroad
on and after the first day of December, in the year one thousand eight hundred and fifty-one.
SEC. 2. It shall not be necessary after the said first day of December next, for any Railroad
Company to make to the Comptroller monthly statements of the property carried on its railroad.
SEC. 3. All acts and parts of acts requiring the payment of State tolls by any Railroad Company
for the transportation of property on any railroad are, after the said first day of December next,
80 far as they conflict with act, hereby repealed.
Rights of Stockholders to redeem pending a process for foreclosure or after a sale of a Railroad.
[Passed June 30, 1853.]
SEC. 1. Whenever default shall be made by any Railroad Company in the payment of principal or
interest on any bonds of such company which are secured by a mortgage of the property of such com-
pany, it shall be lawful for each and every stockholder of said company, at any time during the
process of said foreclosure, to pay to the mortgagees named in such mortgage, for the use and
benefit of the holder and holders of such bonds, such proportion of the sum due, and of the suin
secured to be paid by the whole of the bonds secured by such mortgage, as such stockholders stock
shall bear to the whole stock of said company; and on 80 paying, such stockholder shall, to the
extent of such payment, become and be interested in said mortgage and be protected thereby.
SEC. 2. In the case of the foreclosure of any mortgage given by any Railroad Company to secure
the payment of any bonds of such company, any stockholder of such company shall, for a period
of six months after the sale under such foreclosure, have a right on paying to the purchaser or
purchasers, at or under such sale, or to the mortgagees named in such mortgage, for the use and
benefit of such purchaser or purchasers, a sum equal to such proportion of the price paid on such
sale, and the cost and expenses thereof, as such stockholders stock in said company shall bear to
the whole capital stock of said company and on 80 paying such stockholder shall be entitled to
have the same relative amount of stock, or interest in said Railroad Company and its road fran-
chises and other property.
Amendments of the General Railroad Law, passed April 15, 1854:
SEC. 1. (Amended, and is identical with the fifth section of the General Railroad Law, already
given.)
SEC. 2. (Amended, and is identical with the fifteenth section of the General Railroad Law,
already given.)
SEC. 3. (Amended, and is identical with the sixteenth section of the General Railroad Law,
already given.)
Right of Way, how acquired.
SEC. 4. In case any railrond company, the line or route of whose road has been surveyed or
designated, and the certificate thereof duly filed as required by law, is unable to agree for the
purchase of any real estate required for its roadway, the said corporation shall have the right to
acquire title to the same by the special proceedings prescribed in the act hereby amended; and
all real estate acquired by any railroad corporation, under and pursuant to the provisions of this
act, for the objects and purposes herein expressed, shall be deemed to be acquired for public use.
But this section shall not be 80 construed as to apply to any real estate in the city of Buffalo,
situate between Main and Michigan streets.
Courts empowered to carry proceedings into effect.
SEC. 5. In all cases of appraisal under this act and the act hereby amended, where the mode or
manner of conducting all or any of the proceedings to the appraisal and the proceedings conse-
quent thereon are not expressly provided for by the statute, the courts before whom such proceed-
ings may be pending shall have the power to make all the necessary orders and give the proper
directions to carry into effect the object and intent of this and the aforesaid act; and the practice
in such cases shall conform as near as may be to the ordinary practice in such courts.
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GENERAL RAILROAD LAW OF NEW YORK.
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Appraisal not affected by transfer of property.
SEC. 6. When any proceedings of appraisal shall have been commenced, no change of ownership
by voluntary conveyance or transfer of the real estate or any interest therein, or of the subject
matter of the appraisal, shall in any manner affect such proceedings, but the same may be carried
on and perfected, as if no such conveyance or transfer had been made or attempted to be made.
Ringing of Bells at cross-roads.
Sec. 7. A bell shall be placed on each locomotive engine run on any railroad, and rung at the
distance of at least eighty rods from the place where the railroad shall cross any traveled public
road or street on the same level with the railroad, and be kept ringing until it shall have crossed
such road or street, or a steam whistle shall be attached to each locomotive engine, and be sounded
at least eighty rods from the place where the railroad shall cross any such traveled public road or
street upon the same level with the railroad, except in cities, and be sounded at intervals until it
shall have crossed such road or street, and every neglect to comply with the foregoing provisions
shall subject the corporation owning the railroad to a fine not exceeding twenty dollars, in the dis-
cretion of the court having cognizance of the offence; and every engineer having charge of the
engine, for every neglect to comply with the requirements aforesaid, shall be fined not exceeding
fifty dollars, or imprisoned in the county jail not exceeding sixty days, in the discretion of the court
before which any indictment may be tried; and the said corporation shall, moreover, be liable for
all damages which shall be sustained by any person by reason of such neglect.
All the penalties hereinbefore mentioned may be sued for in the name of the people of the State
of New York, by the district attorney of the county wherein the same shall accrue, within ten days
thereafter and in case such district attorney shall omit or neglect to sue for such fine or fines
within the time aforesaid, then it may and shall be lawful for any person aggrieved to sue therefor
in the name of the overseers of the poor of the town wherein any such fine or fines shall have
accrued, which when recovered, shall be paid to the said overseers of the poor for the benefit of
the poor of said town. And in case such persons shall fail to make out and maintain any such
action, it shall be the duty of the court before whom any such action shall be had, to enter a judg-
ment against the complainant for the costs of said action.
Fencing Road.
Sec. 8. Every railroad corporation, whose line of road is open for use, shall, within three months
after the passage of this act, and every railroad company formed or to be formed, but whose lines
are not now open for use, shall, before the lines of such railroad are opened, erect and thereafter
maintain fences on the sides of their roads of the height and strength of a division fence, as re-
quired by law, with openings or gates or bars therein at the farm crossings of such railroad for the
use of the proprietors of the lands adjoining such railroads, and shall also construct, when the same
has not already been done, and hereafter maintain, cattle guards at all road crossings, suitable
and sufficient to prevent cattle, horses, sheep and hogs from getting on to such railroad. And so
long as such fences and cattle guards shall not be made, and when not in good repair, such rail-
road corporation and its agents shall be liable for damages which shall be done by the agents or
engines of any such corporation to any cattle, horses, sheep or hogs thereon and when such fences
and guards shall have been duly made, and shall be kept in good repair, such railroad corporation
shall not be liable for any such damages, unless negligently or wilfully done. A sufficient post
and wire fence of requisite height shall be deemed R lawful fence, within the provisions of this
section ; but no railroad corporation shall be required to fence the sides of its roads, except when
such fence is necessary to prevent horses, cattle, sheep and hogs from getting on to the track of the
railroad from the lands adjoining the same.
Orener of land, when to build.
SEC. 9. But it shall be the duty of every owner of land adjoining any railroad, who has received,
or whose grantor has received a specific sum as compensation for fencing along the line of land
taken for the purpose of said railroad, and has agreed to build and maintain a lawful fence on the
line of said road, to build and maintain such fence; and if said owner, his heir or assign, shall not
build said fence within thirty days after he has been notified so to do by the said railroad corpo-
ration, or shall neglect to maintain said fences, if built, said corporations shall build and thereafter
maintain such fence, and may maintain a civil action against the person so neglecting to build or
maintain said fence, to recover the expense thereof.
Unclaimed Freight.
SEC. 10. Every railroad company which shall have had unclaimed freight, not perishable, in its
possession for a period of one year at least, may proceed to sell the same at public auction, and
out of the proceeds may retain the charges of transportation and storage of such freight, and the
expenses of advertising and sale thereof; but no such sale shall be made until the expiration of
four weeks from the first publication of notice of such sale in the State paper, and also in a news-
paper published at or nearest the place at which such freight was directed to be left, and also at
the place where such sale is to take place; and said notice shall contain a description of such
freight, the place at which and the time when the same was left, as near as may be, together with
the name of the owner or person to whom consigned, if known; and the expenses incurred for
advertising shall be a lien upon such freight, in a ratable proportion, according to the value of
each article or package or parcel, if more than one.
43
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LIST OF RAILROAD COMPANIES IN NEW YORK.
Perishable Freight.
SEC. 11. In case such unclaimed freight shall, in its nature, be perishable, then the same may
be sold, as soon as it can be, on giving the notice required in the preceding section, after its receipt
at the place where it was directed to be left.
Proceeds of Sale.
SEC. 12. Such railroad company shall make an entry of the balance of the proceeds of the sale
if any, of each parcel of freight owned by or consigned to the same person, as near as can be ascer-
tained, and at any time within five years thereafter shall refund any surplus so retained to the
owner of such freight, his heirs or assigns, on satisfactory proof of such ownership.
Lines common to two roads, how constructed.
Sxc. 13. Whenever two railroad companies shall, for a portion of their respective lines, embrace
the same location of line, or whenever, by the connection of two or more railroads, the same points
of termination are reached by railroad communication, any two such railroads may, by agreement,
provide for the construction of so much of said line as is common to both of them by one of the
companies, and for the manner and terms upon which the business thereon shall be performed.
Any road 80 connecting may alter and amend its articles of association, 80 as to terminate at the
point of intersection, and may reduce its capital to a sum not less than ten thousand dollars for
each mile of the road constructed, or proposed to be constructed, in such amended articles of asso-
ciation. This section shall not be 80 construed as to apply to any railroad company or companies
so far as its or their line of road or roads are within the bounds of any incorporated city of this State
Persons on whom process may be served.
SEC. 14. Every railroad corporation in this State shall, within thirty days after this act shall
take effect, designate some person, residing in each of the counties through or into which such rail-
road may run, on whom process to be issued by a justice of the peace may be served, and shall file
such designation in the office of the clerk of the county where the person so designated shall reside,
and a copy of such designation duly certified by such clerk shall be evidence of such appointment,
and the service of any process upon the person 80 designated or named, to be issued by any justice
of the peace in any civil action or matter of which such justice may have jurisdiction, shall be as
valid and effectual, as if served upon the president or any director of any such corporation, as now
provided by law.
Service on agents and servants.
SEC. 15. In all cases where such designation shall not be made as aforesaid, and where no officer
of such corporation shall reside in the county on whom process can be served according to the exist-
ing provisions of law, the process mentioned in the next preceding section may be served on any
local superintendent of repairs, freight agent, agent to sell tickets, or station keeper of such corpo-
ration, residing in such county, which service shall be as effectual in all respects, as if made on the
president or any director of such corporation.
SEC. 16. (Amended, and is identical with the tenth section of the General Railroad Law, already
given.)
(For further Amendments see Abstract of the General Railroad Law of the State)
List of all the Railroad Companies chartered, or organized under the
General Railroad Law of the State, with the dates of their incorporation, or
organization; and also an abstract of all the Acts of the Legislature passed
in reference thereto
The asterisk [*] prefixed signifies that the work of construction has not been commenced.
Corporate Titles of Companies.
Laws.
Abstract of Acts.
*ADIRONDACK
1839, chap. 120
Act of incorporation.
*ALBANY, BENNINGTON & RUTLAND
Gen. Law
Articles of association filed, April 25, 1850.
*ALBANY & COHOES
1848, chap. 237
Declaring public utility of such road.
ALBANY NORTHERN
Gen. Law
Articles of association filed, Feb. 20, 1851.
"
"
1854, chap 63
City of Albany may aid Company
.4
"
Gen. Law
Title altered, Oct. 15, 1856. See A. Vt. & Can.
*ALBANY & SARATOGA
Gen. Law
Articles of association filed, June 28, 1852.
"ALBANY & SARATOGA SPRINGS
Gen. Law
Articles of association filed, Jan. 6, 1853.
ALBANY & SCHENECTADY
1847, chap. 91
Name changed from Mohawk and Hudson.
"
64
1847. chap. 405
May issue stock or borrow money for 2d track.
64
"
1847, chap. 270
May carry freights on paying tolls to State.
"
"
1851, chap. 20
May borrow not exceeding $300,000.
"
"
1853, chap. 76.
May consolidate into the New York Central.
"
"
Gen. Law Articles of consolidation filed, July 7, 1853.
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LIST OF RAILROAD COMPANIES IN NEW YORK.
339
Corporate Titles of Companies.
Laws
Abstract of Acts.
*ALBANY & SCHENECTADY TURNPIKE
1830, chap. 319
May convert a portion of turnpike into R. R.
ALBANY & SUSQUEHANNA
Gen. Law
Articles of Association filed, April 19, 1851.
"
"
1852, chap. 113
Binghamton may take stock, etc.
"
"
1852, chap. 195
Albany may loan $1,000,000.
"
"
1852, chap. 373
Amends Law of 1852, chap 113.
"
"
1853, chap. 42
Extends time for compl'ce with previous acts.
"
"
1855, chap. 419
Extends time for completion of road.
66
"
1856, chap. 64
Towns in Schenectady, Schoharie, Otsego,
Delaware, Chenango and Broome counties,
may subscribe to share capital.
"
"
1857, chap. 398
Extends time for completion of road.
"
«
1857, chap. 401
Law of 1857, chap. 398, amended.
"
66
1859, chap. 384
May increase capital.
ALBANY & VERMONT
Gen. Law
Art's of Assoc'n, Oct. 6, '59. See Alb. V. & Can.
ALBANY, VERMONT & CANADA
Gen. Law
See Albany Northern, Oct. 15, 1856.
"
"
"
Gen. Law
Articles of association, filed Nov. 7, 1856.
"
"
"
Gen. Law
Title changed. See Alb. and Vermont.
ALBANY AND WEST STOCKBRIDGE
1836, chap. 262
Changes name of Castleton & W. S. R R. Co.
"
"
"
1837, chap. 390
Albany may borrow $250,000 to aid Co
"
"
"
1838, chap. 96
Amends Law of 1836, chap. 262.
"
"
"
1839, chap. 340
Albany may borrow $400,000 to aid Co.
"
64
"
1840, chap. 111
Amends act of incorporation.
"
"
"
1841, chap. 290
May increase capital.
"
"
"
1841, chap. 347
Albany may borrow $350,000 to aid Co.
*ALBION & TONAWANDA
1832, chap. 160
Act of incorporation.
"AMERICAN MINERAL
1857, chap. 372
Tram road to Mines.
ATLANTIC & GREAT WESTERN
Gen. Law
Articles of association filed, Dec. 9, '58.
"
"
"
Gen. Law
"
"
"
May 18, '59.
"ATLANTIC & PACIFIC
1653, chap. 635
Act of incorporation.
ATTICA & ALLEGHANY VALLEY
Gen. Law
Articles of association filed, Nov. 4, 1852.
"
"
"
1853, chap. 460
Any company may subscribe to capital.
"
"
"
1853, chap. 500
Authorizes change of line.
"
"
"
1853, chap. 653
Towns in Wyoming and Cattaraugus county
may subscribe to capital stock.
"
"
"
1854, chap. 374
Amends law of 1853, chap. 653.
ATTICA & BUFFALO
1836, chap. 242
Act of incorporation.
"
"
1838, chap. 283
Amends act of 1836, chap. 242.
"
"
1842, chap. 80
Act in relation to organization.
"
"
1843, chap. 169
Amends act of incorporation.
"
"
1844, chap. 335
May carry freight and pay tolls.
"
44
1847, chap. 29
Amends act of incorporation.
"
"
1847, chap. 270
May carry freight and pay tolls.
"
"
1847, chap. 405
May issue stock or borrow money.
"
"
1849, chap. 113
Amends act of incorporation.
"
"
1850, chap. 236
Consolidation with Tonawanda Railroad Co.
"
"
Gen. Law
Articles of association filed, Dec. 7, 1650.
ATTICA & HORNELLSVILLE
1845, chap. 336
Act of incorporation.
"
"
1849, chap. 353
Amends act of 1845, chap. 336.
"
"
1850, chap. 5
Extends time for construction.
"
"
1851, chap. 77
Authorizes change of name.
"
"
1851, chap. 117
Any railroad company may subscribe to stock.
"
"
1852, chap. 162
Amends net of incorporation.
*ATTICA & SHELDON
1836, chap. 415
Act of incorporation.
*AUBURN & BINGHAMTON
1849, chap. 71
Declares the public use of such road.
*AUBURN & CANAL
1832, chap. 233
Act of incorporation.
*AUBURN & ITHACA
1848, chap. 243
Declares the public use of such road.
AUBURN & ROCHESTER
1836, chap. 349
Act of incorporation.
"
"
1837, chap. 11
Amends act of incorporation.
"
"
1838, chap. 290
Amends act of incorporation.
"
"
1840, chap. 195
Act to aid construction.
"
"
1841, chap. 184
Amends act of incorporation.
"
"
1844. chap. 50
Authorizes Tonawanda R. R. Co. to connect
its road with this road.
"
"
1844, chap. 335
Authorizes the company to carry freight on
payment of tolls.
"
"
1846, chap. 179
Act for relief of company.
"
"
1847, chap. 93
Authorizes Company to borrow $600,000.
66
"
1847, chap. 270
Authorizes the company to carry freight, etc.
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LIST OF RAILROAD COMPANIES IN NEW YORK.
Corporate Titles of Companies.
Laws
Abstract of Acts.
AUBURN & ROCHESTER
1847, chap. 405 Company may borrow money to lay 2d track.
"
"
1850, chap. 239 May unite with Auburn and Syracuse Co.
AUBURN & SYRACUSE
1834, chap. 228, Act of incorporation.
"
"
1837, chap. 158
State lands may be sold to company.
"
"
1838. chap. 57
Amends act of incorporation.
"
"
1938, chap. 293
Act to aid construction.
"
"
1839, chap. 257
Amends act of incorporation.
"
"
1844, chap. 335
Authorizes the carriage of freight on the
payment of tolls.
"
"
1847, chap. 131
Amends act of incorporation.
64
"
1847, chap. 170
Authorizes the carriage of freight on pay-
ment of tolls.
"
"
1847, chap. 405
May issue stock or borrow money for a
second track.
"
"
1850, chap. 239
May unite with Auburn & Rochester Co.
*AURORA & BUFFALO
1832, chap. 132
Act of incorporation.
"
"
1837, chap. 278
Amends act of incorporation.
Avon GENESEO & MOUNT MORRIS.
Gen. Law
Articles of association filed, Feb. 1860.
*BATAVIA & CHEEKTAWAGA
Gen. Law
Articles of association filed, Aug. 22, 1850.
*BATH & CROOKED LAKE
1831, chap. 83
Act of incorporation.
*BINGHAMTON & SUSQUEHANNA
1839, chap. 289
Act of incorporation.
*BLACK RIVER
1832, chap. 174
Act of incorporation, with power to connect
by railroad or canal the Erie canal with
the waters flowing into the St. Lawrence.
*BLACK RIVER
1836, chap. 410
Act to incorporate.
BLACK RIVER & UTICA
Gen. Law
Articles of association filed, Jan. 31, 1853.
"
"
"
1853, chap. 278
Utica may take stock not exceeding $250,000.
"
"
"
1854, chap. 12
May apply for commissioners to appraise land
"
"
"
1856, chap. 117
Increases rate of fare for passengers.
"
"
"
1857, chap. 226
Extends time for completion of road, etc.
"
"
"
1858, chap.
1
Utica may take stock.
BLOSSBURG & CORNING
Gen. Law
Articles of association filed, May 19, 1854.
BOSTON & HUDSON RIVER
1828, chap. 213
Act to facilitate construction.
*BREWERTON & SYRACUSE
1836, chap. 302
Act of incorporation.
BROADWAY
1858, chap. 303
Act of incorporation.
"
Gen. Law
Articles of association filed, Aug. 20, 1858.
BROOKLYN CENTRAL
Gen. Law
Articles of association filed, Aug. 31, 1859.
BROOKLYN CITY
Gen. Law
Articles of association filed, Dec. 17, 1853.
"
"
1854, chap. 77
Act in relation to company.
"
"
1855, chap. 274
Amends act of 1854, chap. 77.
*BROOKLYN, FORT HAMILTON, BATH
& CONEY ISLAND
1836, chap. 306,
Act of incorporation.
BROOKLYN & JAMAICA
1832,
chap.
256
Act of incorporation.
"
"
1836, chap. 94
May lease road to Long Island Company.
"
"
1837, chap. 377
May alter route.
"
"
1846, chap. 310
May sell a portion of turnpike.
"
"
1848, chap. 373
Amends act of incorporation.
*BUFFALO & ALLEGHANY VALLEY
Gen. Law
Articles of association filed, May 30, 1853.
"
"
"
1858, chap. 231
May sell out to Buffalo and Pittsburg Co.
*BUFFALO & BLACK Rock
1833, chap. 292
Act of incorporation.
"
"
"
1834, chap. 91
May take State lands.
"
"
"
1851, chap. 289
Authorizes appraisal of canal damages.
*BUFFALO & BATAVIA
1838, chap. 241
Act of incorporation.
BUFFALO, BRADFORD & PITTSBURG
Gen. Law
Articles of association filed, March 22, 1959.
BUFFALO & CONHOCTON VALLEY
Gen. Law
Articles of association filed, July 26, 1850.
"
"
"
1852, chap. 41
Changes name to B., Corning and New York.
"
"
"
Gen. Law
Certificate of directors accepting provisions of
chap. 41, Laws of 1852 filed, April 9, '52.
BUFFALO, CORNING & NEW YORK
1854, chap. 156
May increase share capital.
"
"
"
1855, chap. 460
Extends time for completion of road.
"BUFFALO & ERIE
1832, chap. 129
Act of incorporation.
"
"
1836, chap. 263
Amends act of incorporation.
"BUFFALO & HINSDALE
1846, chap. 256
Act of incorporation.
BUFFALO & INTERNATIONAL
Gen. Law
Articles of association filed, March 13, 1857.
BUFFALO & LAKE HURON
1857, chap. 360
Authorizes to hold real estate.
6.
"
"
1858, chap. 121
Declares this company a N. Y. corporation.
"
::
"
Gen. Law
Articles of association filed, June 19, 1858.
BUFFALO & LOCKPORT
Gen. Law
Articles of association filed, April 29, 1852.
Digitized by Google
LIST OF RAILROAD COMPANIES IN NEW YORK.
341
Corporate Titles of Companies.
Laws.
Absrtact of Acts.
BUFFALO & LOCKPORT
1853, chap. 76
"
Authorizes consolidation into Central Co.
"
Gen. Law
*BUFFALO & New YORK
Agreement of consolidation filed, July 7, 1859.
Gen. Law
BUFFALO & NEW YORK CITY
Articles of association filed, Jan. 22, 1851.
1851, chap. 77
"
Name changed from Attica and Hornellsville.
6
"
Gen. Law
"
&
"
Articles of association filed, April 18, 1851.
1853, chap. 168
Authorized to construct branches.
"
of
"
1853, chap. 525
Authorized to construct branch from Burns
to Danville.
is
"
"
1854. chap. 336
BUFFALO, NEW YORK & ERIE
Authorized to increase capital.
Gen. Law
"
"
"
Articles of association filed, Oct. 24, 1857.
1858, chap. 29
BUFFALO & NIAGARA FALLS
Authorized to acquire title to real estate.
1834, chap. 269
"
"
Act of incorporation.
"
1837, chap. 41
"
"
"
Amends act of incorporation.
1841, chap. 73
"
"
"
Amends act of incorporation.
1846, chap. 213
"
"
"
Amends act of incorporation.
1849, chap. 252
"
64
"
Amends act of incorporation.
1851, chap. 275
as
"
"
Authorized to unite with Lewiston Company.
1852, chap. 297
Authorized to subscribe stock to any railroad
as
"
"
company, not exceeding $75,000.
1855, chap. 302
Authorized to exchange stock for New York
Central stock.
BUFFALO & PITTSBURG
Gen. Law
"
"
Articles of Association filed, Oct. 13, 1852.
"
1853, chap. 256
"
City of Buffalo authorized to loan $400,000.
"
1853, chap. 351
"
Law of 1853, chap. 256 amended.
1853, chap. 496
Authorized to terminate road on the N.
"
"
boundary of Pa.
1854, chap. 337
Towns in Erie and Cattaraugus counties
authorized to take stock.
"
"
1856, chap. 151
Authorized to use iron weighing less than
as
"
56 lbs. per yard.
1857, chap. 219
"
44
Extends time for completion of road.
1858, chap. 102
Authorized to consolidate with the Buffalo
"
"
and Bradford Company of Pa.
1858, chap. 231
Authorized to purchase the property of the
"
"
Buffalo and Bradford Company.
1859, chap. 348
Amends act of 1853, chap. 256.
"BUFFALO, PITTSBURG & Sr. LOUIS
Gen. Law
Articles of association filed, Oct. 14, 1852.
BUFFALO & ROCHESTER
Gen. Law
"
Articles of association filed, Dec. 7, 1850.
"
1851, chap. 76
Authorized to sell its real estate to Attica
"
"
and Hornellsville Company.
1852, chap. 91
"
Amends act of incorporation.
"
1853, chap. 76
Authorized to consolidate into N. Y. Central.
"
"
Gen. Law
Consolidation agreement filed, June 7, 1853.
BUFFALO & STATE LINE
1848, chap. 301
Declares the public utility of such road.
"
"
"
Gen. Law
Articles of association filed, Oct. 13, 1859.
"
"
"
1850, chap. 147
Act to facilitate construction.
"
"
"
1852, chap. 43
Confirms organization of Company.
"
"
"
1857, chap. 362
May purchase or lease Erie and Northeast.
"BUFFALO, TONAWANDA & NIAGARA
FALLS
Gen. Law
Articles of association filed, July 1, 1853.
CANAJOHARIE & CATSKILL
1830, chap. 265
Act of incorporation.
"
"
1837, chap. 217
Amends act of incorporation.
"
"
1837, chap. 321
Catskill may subscribe for 2,000 shares.
"
"
1838, chap. 240
Act to aid construction.
CANANDAIGUA & CORNING
1845, chap. 328
Act of incorporation.
"
"
1846, chap. 181
Amends act of incorporation.
"
"
1847, chap. 70
Amends act of incorporation.
"
"
1849, chap. 129
Amends act of incorporation.
"
"
1850, chap. 54
Amends act of incorporation.
"
"
1850, chap. 54
Name changed to Canandaigua and Elmira.
CANANDAIGUA & ELMIRA
Gen. Law
Articles of association filed, Sept. 14, 1852.
CANANDAIGUA & NIAGARA FALLS
Gen. Law
Articles of association filed, March 18, 1851.
"
"
"
Gen. Law
Name changed to Niagara Bridge and
Canandaigua, Aug. 25, 1858.
"CANANDAIGUA R. R.& TRANSPORTION.
1828, chap. 196
Act of incorporation.
"CANANDAIGUA & SYRACUSE
Gen. Law
Articles of association filed, Nov. 30, 1853.
*CASSADAGA & ERIE
1836, chap. 408
Act of incorporation.
*CASTLETON & WEST STOCKBRIDGE
1834, chap. 292
Act of incorporation.
Digitized
by
Google
342
LIST OF RAILROAD COMPANIES IN NEW YORK.
Corporate Titles of Companies.
Laws
Abstract of Acts.
CASTLETON & WEST STOCKBRIDGE
1836, chap. 262
Name changed to Alb. and W. Stockbridge.
*CATSKILL & ITHACA
1828, chap. 306
Act of incorporation.
"
"
1829, chap. 62
Amends act of incorporation.
CAYUGA & SUSQUEHANNA
1843, chap. 221
Name changed from Ithaca and Owego, and
act of incorporation.
"
"
1846, chap. 180
Amends act of incorporation.
"
"
1847, chap. 150
Amends act of incorporation.
"
"
1850, chap. 231
Grants use of pier in Cayuga Lake.
"
"
1851, chap. 103
Amends act of incorporation.
"
"
1859, chap. 94
Reduces capital stock.
CHAMPLAIN & Sr. LAWRENCE
Gen. Law
Articles of association filed, March 6, 1651.
"CHAUTAUQUE COUNTY
Gen. Law
Articles of association filed, Aug. 6, 1851.
*CHERRY VALLEY & SUSQUEHANNA
1836, chap. 278
Act of incorporation.
CHEMUNG
1845, chap. 350
Act of incorporation.
"
1847, chap. 96
Amends act of incorporation.
"
1853, chap. 82
Amends charter and changes S. terminus.
"
1857, chap. 286
Amends charter and changes gauge.
"CHEMUNG & ITHACA
1837, chap. 466
Act of incorporation.
"
1838, chap. 239
Amends act of incorporation.
*CLIFTON & SOUTH CLIFTON
Gen. Law
Articles of association filed, April 9, 1853.
*CLYDE & Sobus BAY
Gen. Law
Articles of association filed, March 9, 1853.
*COEYMANS
1836, chap. 434
Act of incorporation.
*COLD SPRING
1839, chap. 299
Act of incorporation.
*COOPERSTOWN & CHERRY VALLEY.
1837, chap. 422
Act of incorporation.
CORNING & BLOSSBURG
1851, chap. 90
Authorizes Tioga Coal, Iron Mining and
Manufacturing Company, to consolidate
with Tioga Company, under this title.
That portion within New York is called
the Blossburg and Corning Company.
*CORNING & OLEAN
Gen. Law
Articles of association filed, Feb. 18, 1853.
*COXSACKIE & SCHENECTADY
1837, chap. 434
Act of incorporation.
"
"
1838. chap. 225
Amends act of incorporation.
*DANVILLE & ROCHESTER
1852, chap.
2
Act of incorporation.
*DELAWARE
1836, chap. 406
Act of incorporation.
DIVISION AVENUE
Gen. Law
Articles of association filed, April 12, 1852.
"
"
1853, chap. 468
Defines route of road.
*DUNKIRK & STATE LINE
Gen. Law
Articles of association filed, April 18, 1850.
*DUTCHESS
1832, chap. 61
Act of incorporation.
"
1836, chap. 477
Act of incorporation.
EIGHTH AVENUE
Gen. Law
Articles of association filed, Jan. 10, 1855.
ELMIRA, CANAN. & NIAGARA FALLS.
Gen. Law
Articles of association filed, May. 2, 1857.
ELMIRA, JEFFERSON & CANANDAIGUA
Gen. Law
Articles of association filed, Feb. 18, 1859.
*ELMIRA & WILLIAMSPORT
1832, chap. 216
Act of incorporation.
"
"
1846, chap. 190
Revives and amends act of incorporation.
*ERIE & CATTARAUGUS
1837, chap. 432
Act of incorporation.
ERIE & NEW YORK CITY
Gen. Law
Articles of association filed, March 12, 1852.
"
"
"
"
1853, chap. 592
May acquire real estate.
"
"
"
"
1854, chap 236
For relief of company.
"
"
=
"
1855, chap. 132
Certain towns in Cbautauque and Cattarau-
gus counties may subscribe share capital.
"
"
"
"
1857, chap. 82
Extends time for completion of road.
*FISH HOUSE & AMSTERDAM
1832, chap. 316
Act of incorporation.
*FISKILL LANDING & EASTERLY LINE.
1848, chap. 338
Declares public utility of such road.
FLUSHING
Gen. Law
Articles of association filed, March 3, 1852.
"
1853, chap. 164
May construct draw-bridges across Flushing
and Newtown creeks.
"
1854, chap. 258
Amends act for constructing bridges.
*FREDONIA & VAN BUREN
1836, chap. 417
Act to incorporate.
*GENESEE & CATTARAUGUS
1837, chap. 425
Act of incorporation.
*GENESEE & HUDSON
Gen. Law
Articles of association filed, Dec 13, 1852.
GENESEE VALLEY
Gen. Law
Articles of association filed, July 12, 1856.
"
"
Gon. Law
Similar articles of association filed, May 2, '57.
*GENESEO
1847, chap. 246
Act of incorporation.
"
1849, chap. 4
Amends act of incorporation.
*GENESEO & PITTSFORD
1836, chap. 430
Act of incorporation.
*GENEVA & CANANDAIGUA
1828, chap. 430
Act of incorporation.
"
"
1831, chap. 307
Amends act of incorporation.
*GILBOA
1839, chap. 179
Act of incorporation.
Digitized by Google
LIST OF RAILROAD COMPANIES IN NEW YORK.
313
Corporate Titles of Companies.
Laws.
Abstract of Acts.
"GOSHEN & ALBANY
1842, chap. 241
Act of incorporation.
"
"
1844, chap. 95
Extends time for construction.
"
"
1845, chap. 326
Amends act of incorporation.
*GOSHEN & NEW JERSEY
1837, chap. 416
Act of incorporation.
GRAND STREET (BROOKLYN)
Gen. Law
Articles of association filed, Nov. 9, 1859.
GRAND STREET & MASPETH
Gen. Law
Articles of association filed, Nov. 9, 1859.
"GREAT AUSABLE
1828, chap. 238
Act of incorporation.
"
"
1832, chap. 69
Act of incorporation.
"
"
1833, chap. 277
Renews and amends act of incorporation.
"
"
1839, chap. 110
Amends act of incorporation.
*GREENE
1838, chap. 319
Act of incorporation.
*HALLETT'S Cove
1828, chap. 205
Act of incorporation.
"
"
1832, chap. 111
Amends act of incorporation.
*HARLEM RIVER & HIGH BRIDGE
Gen. Law
Articles of association filed, Oct. 30, 1853.
*HERKIMER & TRENTON
1836, chap. 344
Act of incorporation.
"
"
1837, chap. 398
Revives act of incorporation.
"
"
1839, chap. 234
Revives and amends act of incorporation.
HICKSVILLE & COLD SPRING BRANCH
1851, chap. 306
Authorizes a less number of stockholders than
is required by the general law.
"
"
"
"
Gen. Law
Articles of association filed, Nov. 7, 1853.
"
"
#66
"
1859, chap. 138
Extends time for completion of road.
*HONEYOYE
1836, chap. 413
Act of incorporation.
"
1837, chap. 191
Amends act of incorporation.
HUDSON & BERKSHIRE
1828, chap. 304
Act of incorporation.
"
"
1832, chap. 302
Act of incorporation.
"
"
1834, chap. 302
Renews and amends act of incorporation.
"
"
1837, chap. 113
Amends act of incorporation.
"
"
1837, chap. 412
Hudson may borrow $50,000 for benefit of
company.
"
"
1839, chap. 380
Grants certain lands under water to comp'y.
"
"
1840, chap. 87
Extends time for completion of road.
"
"
1840, chap. 178
Aids in construction of road.
"
"
1846, chap. 317
In relation to sinking fund.
"
"
1847, chap. 471
Releases prior right of the State and author-
izes the relaying of road with heavy rail.
"
"
1849, chap. 366
Amends law of 1839, chap. 380.
"
"
1850, chap. 237
Authorizes the Controller to suspend legal
proceedings against company.
"
"
1853, chap. 132
Appropriates $12,375 to pay interest on State
stock issued to company.
HUDSON & BOSTON
Gen. Law
Articles of association filed, Feb. 23, 1855.
*HUDSON & DELAWARE
1830, chap. 263
Act of incorporation.
"
"
1835, chap. 126
Renews and amends act of incorporation.
"
"
1642, chap. 141
Amends law of 1835, chap. 126.
*HUDSON RIVER
1846, chap. 216
Act of incorporation.
"
.6
1847, chap. 31
Amends act of incorporation.
"
"
1848, chap. 30
Amends act of incorporation.
"
"
1850, chap.
9
Extends time for completing road.
"
"
1850, chap. 323
Act to facilitate construction of road.
"
"
1855, chap. 7
Authorizes company to convey land to the
United States.
*HUDSON RIVER BRIDGE
1856, chap. 146
Act of incorporation.
*ITHACA & AUBURN
1836, chap. 414
Act of incorporation.
*ITHACA & GENEVA
1832, chap. 96
Act of incorporation.
ITHACA & OWEGO
1828, chap. 21
Act of incorporation.
"
"
1832, chap. 75
Amends act of incorporation
"
"
1834, chap. 261
Amends act of incorporation.
"
"
1838, chap. 295
Aids in the construction of road.
"
"
1840, chap. 344
Amends law of 1838, chap. 295.
"
"
1843, chap. 221
Name changed to Cayuga and Susquehanma
*ITHACA & PORT RENWICK
1834, chap. 114
Act of incorporation.
"
"
"
1835, chap. 239
May construct a canal.
"
"
"
1836, chap. 54
Amends act of incorporation.
*JAMESVILLE
1836, chap. 422
Act of incorporation.
*JOHNSTOWN
1836, chap. 342
Act of incorporation.
JORDAN & SKANEATELES
1837, chap. 343
Act of incorporation.
*KINGSTON
1835, chap. 130
Act of incorporation.
"
1837, chap. 386
Amends act of incorporation
Digitized by
Google
344
LIST OF RAILROAD COMPANIES IN NEW YORK.
Corporate Titles of Companies.
Laws
Abstract of Acts.
*LAKE CHAMPLAIN & OGDENSBURG
1832, chap. 205
Act of incorporation.
"
"
"
1833, chap. 280
Amends act of incorporation.
"
"
"
1536, chap. 426
Act of incorporation.
"
"
"
1837, chap. 464
Amends and continues act of incorporation.
"
"
"
1838. chap. 300
Anthorizes survey.
"
"
"
1840, chap. 346
Provides for survey of several lines.
LAKE ONTARIO, AUBURN & N. YORK
1852, chap. 375
Authorizes any town in Cayuga to borrow
money in aid of a railroad from Lake
Ontario to the New York and Erie or
Cayuga and Susquehanna railroads.
"
"
"
"
Gen. Law
Articles of associ ation filed, Aug. 23, 1852.
"
"
"
"
1854, chap. 231
Authorizes commissioners to appraise land.
"
"
"
"
Gen. Law
New articles of association filed, May 23, '56.
"
"
"
"
1857, chap. 380
Authorizes commissioners to appraise lands.
"
"
"
"
1858, chap. 300
Amends law of 1857, chap. 380.
LAKE ONTARIO & HUDSON RIVER
1857, chap. 280
Changes name from Sucketts Harbor and
Saratoga.
"LANSINGBURG & TROY
1836, chap. 372
Act of incorporation.
"
"
Gen. Law
Articles of association filed, May 2, 1853.
LEBANON SPRINGS
Gen. Law
Articles of association filed, March 25, 1852.
"
"
1853, chap. 25
May extend road into Massachusetts & Vt.
"
"
1853, chap. 461
Amends law of 1853, chap. 25.
"
"
1855, chap. 350
Enables connecting roads to aid in const'n.
"
"
1857, chap. 150
Extends time for completion.
LEWISTON
1836, chap. 260
Act of incorporation.
"
1840, chap. 261
Amends act of incorporation.
"
1849, chap. 259
In relation to road from Niagara Falls.
"
1850, chap. 105
May change route and increase capital.
"
Gen. Law
Declaration of increase of capital to $200,000
filed, Oct. 18, 1850.
"
1851, chap. 227
Amends law of 1849, c. 259, and of 1850, c. 105.
"
1851, chap. 275
May unite with Buffalo and Niagara Falls Co.
"
1853, chap. 46
Extends time for construction of road.
"
1855, chap. 302
May exchange stock for N. Y. Central stock.
*LOCKPORT & BATAVIA
1836, chap. 424
Act of incorporation.
"
"
1838, chap. 277
Amends nct of incorporation.
LOCKPORT & NIAGARA FALLS
1834, chap 177
Act of incorporation.
"
"
"
1837, chap. 99
May increase share capital.
"
"
"
1841, chap. 122
Amends act of incorporation.
64
"
"
1842, chap. 36
May increase share capital.
"
"
"
1847, chap. 408
Amends act of incorporation.
as
"
64
1849, chap. 259
In relation to road from Niagara Falls to
Lewiston.
"
"
"
1850, chap. 105
In relation to Lewiston Railroad Company.
"
"
"
1850, chap. 111
For relief of creditors.
"
"
"
1850, chap. 111
Name changed to Rochester, Lockport and
Niagara Falls.
*LOCKPORT & YOUNGSTOWN
1836, chap. 407
Act of incorporation.
Lone ISLAND
1834, chap. 178
Act of incorporation.
"
"
1836, chap. 94
Brooklyn and Jamaica Co. may lease its road.
"
"
1836, chap. 35S
May construct Hempstead Branch.
as
"
1839 chap. 277
Amends act of incorporation.
64
"
1840, chap. 193
Act to aid construction.
"
=
1845, chap. 116
Amends act of incorporation.
"
"
1845, chap. 289
Amends act of incorporation.
"
"
1847, chap. 166
Amends act of incorporation.
"
"
1851, chap. 306
May furnish materials for the Hicksville and
Cold Spring Branch, etc.
"
"
1853, chap. 146
Repeal Sec. iv. & V. of law of 1847, chap. 166.
"
"
1857, chap. 152
Amends act of incorporation.
"
"
1858, chap. 36
Fixes time for re-embursement of State stock.
"
"
1859, chap. 444
Act supplementary to act of incorporation.
"
"
1859, chap 484
Authorizes the closing of the tunnel in
Brooklyn, etc.
*MADISON COUNTY
1829, chap. 160
Act of incorporation.
"
"
1836, chap. 409
Amends act of incorporation.
MAIN & OHIO STREET (BUFFALO)
Gen. Law
Articles of association filed, Aug. 20, 1859
*MALDEN
1837, chap. 421
Act of incorporation.
Digitized by Google
LIST OF RAILROAD COMPANIES IN NEW YORK.
345
Corporate Titles of Companies.
Laws.
Abstract of Acts.
*MANHATTAN
Gen. Law
Articles of association filed, Nov. 29, 1853.
*MANHEIM & SALISBURY
1834, chap. 195
Act of incorporation.
..
"
1836, chap. 442
Amends act of incorporation.
"
"
1837, chap. 387
Name changed to Mohawk and St. Law-
rence Railroad and Navigation Company.
*MAYVILLE & PORTLAND
1832, chap. 62
Act of incorporation.
"
"
1834, chap. 393
Amends act of incorporation.
"
"
1837, chap. 393
Amends act of incorporation.
*MEDINA & DARIEN
1834, chap. 276
Act of incorporation.
"
"
1839, chap. 215
Amends act of incorporation.
*MEDINA & LAKE ONTARIO
1836, chap. 340
Act of incorporation.
Mohawk & HUDSON
1826, chap. 253
Act of incorporation.
"
"
1828, chap. 122
Amends act of incorporation.
"
"
1832, chap. 20
May construct a branch.
"
"
1834, chap. 20
May increase capital.
"
"
1834, chap. 39
Explanatory of law 1834, chap. 20.
"
"
1837, chap. 383
May borrow $100,000.
"
"
1838, chap. 224
Authorizes a new section of road.
"
"
1847, chap. 91
May borrow $250,000 and change name to
Albany and Schenectady.
*MOHAWK & MOOSE RIVER
1857, chap. 425
Act of incorporation.
*MOHAWK & ST. LAWRENCE
1837, chap. 387
Changed from Manheim and Salisbury.
Mohawk VALLEY
Gen. Law
Articles of association filed, Jan. 21, 1851.
"
"
Gen. Law
Articles of association filed, Dec. 28, 1852
"
"
1853, chap. 76
May consolidate with N. Y. Central.
"
"
Gen. Law
Articles of consolidation filed, July 7, 1853.
"NEWARK
1836, chap. 428
Act of incorporation.
*New YORK & ALBANY
1832, chap. 162
Act of incorporation.
"
"
"
1833, chap. 275
Amends act of incorporation.
"
"
"
1636, chap. 268
Time for commencing construction extended.
"
"
"
1837, chap. 411
Time for commencing construction extended.
"
"
"
1838, chap. 299
Time for commencing and completing ext'd.
"
"
"
1839, chap. 183
May borrow money.
"
"
"
1842, chap. 184
Relative to company.
"
"
"
1847, chap. 31
Amends act of incorporation.
NEW YORK CENTRAL
1853, chap. 76
Act authorizing consolidation.
"
"
"
Gen. Law
Articles of consolidation filed, July 7, 1853.
"
"
"
1857, chap. 228
In relation to fares.
"
"
"
1857, chap. 431
Directs the application of the highway tax
in the town of Ments.
"
"
"
1858, chap. 137
Repeals 3d sec. of law of 1857, chap. 228.
NEW YORK & CONNECTICUT
1846, chap. 215
Act of incorporation.
New YORK & ERIE
1832, chap. 224
Act of incorporation.
.6
"
"
1833, chap. 182
Amends act of incorporation.
"
"
"
1834, chap. 311
Authorizes survey from N. Y. City to L. Erie'
"
"
"
1835, chap. 247
Amends act of incorporation.
"
"
"
1835, April 11.
Concurrent resolution directing Secretary of
State to deliver maps, etc. to Benj. Wright.
"
"
"
1836, chap. 170
Authorizes $3,000,000 State stock to be issued.
"
"
"
1838, chap. 226
Amends act of 1836, chap. 170.
"
"
u
1840, chap. 196
Amends several acts in relation to road.
"
=
"
1842, chap. 227
Amends act of incorporation.
"
"
"
1842, Aug. 25.
Concurrent resolution to postpone sale of road.
"
"
"
1843, chap. 200
Sale postponed until 1850.
"
"
"
1844, chap. 118
Amends act of incorporation.
"
"
"
1855, chap. 49
Newburg branch authorized.
of
"
"
1845, chap. 325
Authorizes the issue of $3,000,000 bonds to
the State to secure loan.
"
"
"
1846, chap. 199
Amends act in relation to construction.
"
"
"
1846, chap. 318
Amends act in relation to construction.
"
"
"
1847, chap. 316
Amends act of 1846. chap. 199.
"
"
"
1848, chap. 261
Defines meaning of Delaware and Hudson"
as used in chap. 49, laws of 1845.
"
"
=
1857, chap. 256
Amends act of incorporation.
NEW YORK & FLUSHING
Gen. Law
Articles of association filed, March 22 1859.
NEW YORK & HARLEM
1831, chap. 263
Act of incorporation.
"
"
1832, chap. 93
Amends act of incorporation.
"
H
1835, chap. 101
Extends time for completion of road, etc.
#
Digitized by Google
346
LIST OF RAILROAD COMPANIES IN NEW YORK.
Corporate Titles of Companies.
Laws.
Abstract of Acts.
NEW YORK & HARLEM
1836, chap 305
Amends act of incorporation.
"
"
"
1837, chap. 55
Extends time for completion of road.
"
"
"
1839 chap 166
Amends act of incorporation.
"
"
"
1840, chap. 242
Authorizes the extension of road.
"
"
"
1845, chap. 333
Amends chap. 242 of laws of 1840.
"
"
"
1846, chap. 200
Amends chap. 333 of laws of 1845.
"
"
"
1848, chap. 143
Amends chap. 242 of laws of 1840.
"
"
"
1849, chap. 75
Time for completing road extended.
"
"
"
1849, chap. 317
Iron bridge may be constructed across
Harlem River.
"
"
"
1849, Dec. 7.
Agreement with New York and New Haven
Company filed.
"
"
"
1852, chap. 152
Capital may be increased.
"
"
"
1853, chap. 28
Amends act of 1840, chap. 242, etc.
"
"
"
1855, chap. 207
Reduces the par value of original shares.
"
"
"
1857, chap. 207
In relation to certain bridges belonging to Co.
"
"
"
1859, chap. 387
Extends the charter of company.
*NEW YORK & JAMAICA
Gen. Law
Articles of association filed, Sept. 3, 1859.
"New YORK & NEWBURG
Gen. Law
Articles of association filed, May 1, 1854.
NEW YORK & New HAVEN
1846, chap. 195
May extend road to Williamsbridge.
"
16
"
"
Gen. Law
Agreement with N. Y. and Harlem Co. filed,
Dec. 7, 1849.
"New YORK & NEW ROCHELLE
Gen. Law
Articles of association filed, March 1, 1852.
"
"
"
"
1852, chap. 382
May construct draw-bridges.
"
&
"
"
1854, chap. 42
For relief of company.
*New YORK & TROY
Gen. Law
Articles of association filed, Jan. 31, 1852.
"New YORK & WESTCHESTER COUNTY
Gen. Law
Articles of association filed, Sept. 24, 1859
"New YORK & YONKERS
Gen. Law
Articles of association filed, Oct. 17, 1859.
NIAGARA BRIDGE & CANANDAIGUA.
Gen. Law
Articles of association filed, Aug. 25, 1858
*NIAGARA FALLS, BUFFALO & N. YORK
Gen. Law
Articles of association filed, June 7, 1852.
NIAGARA FALLS & LAKE ONTARIO
Gen. Law
Articles of association filed, Sept. 9, 1852.
NIAGARA FALLS & LEWISTON
Gen. Law
Articles of association filed, Oct. 31, 1849.
"NIAGARA RIVER
Gen. Law
Articles of association filed, July 13, 1852.
"NIAGARA STREET (BUFFALO)
Gen. Law
Articles of association filed, Aug. 10, 1859.
NINTH AVENUE (N. Y.)
Gen. Law
Articles of association filed, July 29, 1859.
NORTHERN
1845, chap. 324
Act of incorporation.
"
1847, chap. 25
Amends act of incorporation.
"
1851, chap. 228
Authorizes increase of capital.
"
1851, chap. 262
Authorizes branch to Potsdam.
"
1854, chap. 60
Extends time for completion.
as
1855, chap. 401
Act to consolidate bonds and stock of comp'y.
"
1857, chap 199
Authorizes the formation of new company.
64
Ogdensburg R R. Co. file articles of asso
ciation, Jan. 6, 1858.
"
1858, chap 230
Act to amend act of 1857, chap. 199
"NORTHERN SLACKWATER
1846, chap. 311
Act of incorporation.
"
"
1848, chap. 274
Extends time for construction.
OGDENSBURG
Gen. Law
Articles of association filed, Jan. 6, 1858.
OGDENSBURG, CLAYTON & ROME
Gen. Law
Articles of association filed, April 16, 1853.
"
"
"
1853, chap. 283
Rome may subscribe $150,000.
"
"
"
1854, chap. 11
May apply for commissioners of appraisal
"ORANGE & SUSSEX CANAL
1824, chap 188
Act of incorporation.
"
"
"
1826, chap. 149
Supplementary to act of 1824.
"
"
"
1828, chap.
Amends former acts; may construct a R. R.
Oswego, BINGHAMTON & NEW YORK.
Gen. Law
Articles of association filed, Oct. 16, 1853.
"
"
"
1857, chap. 242
Time extended for completion.
"Oswego, NORTHERN & EASTERN
Gen. Law
Articles of association filed, Feb. 18, 1853.
OsweGo & SYRACUSE
1839, chap. 270
Act of incorporation.
"
"
1841, chap. 17
Amends act of incorporation.
"
"
1845, chap. 320
Renews and amends act of incorporation.
"
"
1847, chap. 65
Time expended on which to expend $5,000
"
64
1847, chap. 270
May carry freight and pay tolls.
"
"
1853, chap. 205
May consolidate with Syracuse and Bing-
hamton Company.
"OSWEGO & TROY
Gen. Law
Articles of association filed, April 6, 1854.
"
"
1852, chap. 375
Towns in Oswego county may take stock.
OSWEGO & UTICA
1836, chap. 343
Act of incorporation.
"
"
1838, chap. 98
Amends act of incorporation.
Digitized by Google
LIST OF RAILROAD COMPANIES IN NEW YORK.
347
Corporate Titles of Companies.
Laws.
Abstract of Acts.
*OTSEGO
1832, chap. 313
Act of incorporation.
*OWEGO & CORTLAND
1536, chap. 431
Act of incorporation
PANAMA
1849, chap. 284
Act of incorporation
"
1855, chap. 364
Amends act of incorporation.
*PENFIELD & CANAL
1837, chap. 345
Act of incorporation.
PIERMONT WEST SHORE
Gen. Law
Articles of association filed, Nov. 16, 1857.
"
"
"
1858, chap. 253
Northern R. R. Co. of N. J. may extend road.
*PLATTSBURG & CANADA LINE
1849, chap 265
Public utility of road declared.
PLATTSBURG & MONTREAL
Gen. Law
Articles of association filed, March 28, 1850.
"
"
1858, chap. 154
May increase passenger fare.
PLATTSBURG & ROUSE'S POINT
Gen. Law
Articles of association filed, March 18, 1850.
"
"
"
1851, chap. 520
May erect draw-bridge over Big Chazy River.
"
"
"
Gen. Law
New articles of association filed, April 22, '57.
*Porr BYRON & AUBURN
1829, chap. 154
Act of incorporation.
POTSDAM & WATERTOWN
Gen. Law
Articles of association filed, Feb. 25, 1852.
"
"
1852, chap. 160
May commence construction.
"
of
1853, chap. 229
Attorney-General may discharge judgment.
"
"
1859, chap. 217
May increase rates of fare.
RENSSELAER & SARATOGA
1832, chap. 131
Act of incorporation.
"
"
1836, chap. 118
May increase share capital.
"
"
1838, chap. 280
May borrow $150,000.
"
"
1842, chap. 232
Amends act of 1838.
*ROCHESTER & CANAL
1831, chap. 89
Act of incorporation.
"
"
1833, chap. 26
Amends act of incorporation.
*ROCHESTER & CHARLOTTE
1836, chap. 411
Act of incorporation.
ROCHESTER & GENESEE VALLEY
Gen. Law
Articles of association filed, July 2, 1851.
"
"
"
1853, chap. 287
North Danville may borrow $100,000 to aid Co.
"
"
"
1853, chap. 557
Provides for expenses under last act.
ROCHESTER & LOCKPORT
1837, chap. 427
Act of incorporation.
"
"
1838, chap. 303
Amends act of incorporation.
ROCHESTER, LOCKPORT & NIAGARA F.
1850, chap. 111
For rolief of creditors of L. and N. F. R. R. C.
"
"
"
Gen. Law
Articles of association filed, Dec. 14, 1850.
"
"
:
1851, chap. 227
May straighten and improve road.
"
"
"
1852, chap. 297
May subscribe $50,000 to any R. R. Company.
"
"
"
1953, chap. 76
Act of consolidation into N. Y. Central Co.
"
"
"
Gen. Law
Consolidation agreement filed, July 7, 1853.
ROCHESTER & LAKE ONTARIO
Gen. Law
Articles of association filed, May 17, 1852
"
"
"
Gen Law
Consolidation agreement filed, July 7, 1853.
*ROCHESTER & PITTSBURG
Gen. Law
Articles of association filed, July 22, 1853.
"
"
Gen. Law
Articles of association filed, Aug. 18, 1853.
*ROCHESTER & SOUTHERN
Gen. Law
Articles of consolidation filed, Dec. 28, 1852.
ROCHESTER & SYRACUSE
Gen. Law
Articles of association filed, Aug. 1, 1850.
"
"
Gen. Law
Agreement with Syr. & Roch Co.filed, Aug 6, '50
"
"
1853, chap. 76
Consolidation into N. Y. Cent. Co. authorized.
"
"
Gen. Law
Consolidation agreement filed, July 7, 1853.
*ROME & PORT ONTARIO
1837, chap. 417
Act of incorporation.
RUTLAND & WHITEHALL
1836, chap. 418
Act of incorporation.
SACKETT'S HARBOR & ELLISBURG
1849, chap. 295
Declares public utility of such road.
"
"
"
Gen. Law
Articles of association filed, July 16, 1851.
"
"
"
1851, chap. 403
May lengthen road and increase capital.
"
"
"
1851, chap. 740
May increase rates of fare.
SACKETT's HARBOR & SARATOGA
1848, chap. 207
Act of incorporation.
"
"
"
1851, chap. 72
Amends act of incorporation.
"
"
"
Gen. Law
Articles of consolidation filed, Feb. 23, 1852.
"
"
"
1853, chap. 244
Amends act of incorporation.
"
"
"
1854, chap. 273
May construct road through Warren and
Essex Counties.
"
"
"
1855, chap. 192
Extends pre-emptive right to State lands.
"
"
"
1857, chap. 98
Exempts lands from taxation, etc.
"
"
"
1857, chap. 280
Changes name to L. Ontario and Hudson River.
"SACKETT'S HARBOR & WATERTOWN
Gen. Law
Articles of association filed, Sept. 17, 1855.
*SALINA & PORT WATSON
1829, chap. 276
Act of incorporation.
*SARATOGA & FORT EDWARD
1832, chap. 166
Act of incorporation.
*SARATOGA & MONTGOMERY,
1836, chap. 261
Act of incorporation.
SARATOGA & SCHENECTADY
1831, chap. 43
Act of incorporation.
"
"
1831, chap. 144
Amends act of incorporation.
"
"
1838, chap. 282
May use part of Utica and Schen. railroad.
*SAR. SPRINGS & SCHUYLERVILLE
1832, chap. 315
Act to incorporate.
Digitized by Google
348
LIST OF RAILROAD COMPANIES IN NEW YORK.
Corporate Titles of Companies.
Laws
Abstract of Acts.
SARATOGA & WASHINGTON
1834, chap. 249
Act to incorporate.
"
"
1840, chap. 109
Extends time for completion of road.
"
"
1844, chap. 267
Extends time for completion of road.
"
"
1847, chap. 58
Amends act of incorporation.
"
"
1848, chap. 74
Amends act of incorporation.
"
"
1850, chap. 149
Extends time for completion, etc.
"
"
1849, chap. 294
Declares public utility of a railroad from the
Sar. & Washington R. R. to Plattsburg.
SARATOGA & WHITEHALL
Gen. Law
Articles of association filed, Jan. 7, 1855.
*SCHENECTADY & CATSKILL
1846, chap. 313
Act of incorporation.
"
"
1848, chap. 67
Amends act of incorporation.
"
"
1850, chap. 33
Amends act of incorporation.
*SCHENECTADY & SUSQUEHANNA
1846, chap. 308
Act of incorporation.
SCHENECTADY & TROY
1836, chap. 427
Act of incorporation.
"
"
1837, chap. 114
Troy may borrow $500,000 and invest in stock.
"
"
1839, chap. 31
Amends act of incorporation.
"
"
1840, chap. 299
Act to aid company.
"
"
1843, chap. 135
May increase capital stock.
"
"
1847, chap. 270
May carry freight and pay tolls to State.
"
"
1847, chap. 405
May issue sh'rs or b'ds and construct 2d track.
.
"
1850, chap. 224
Troy may levy a tax to pay company's debts.
..
"
1853, chap. 76
New York Central Consolidation Act.
"
"
Gen. Law
Consolidation agreement filed, July 7, 1853.
*SCHOHARIE & OTSEGO
1832, chap. 262
Act of incorporation.
*SCOTTAVILLE & CANANDAIGUA
1838, chap. 210
Act of incorporation.
*SCOTTSVILLE & LE Roy
1836, chap. 420
Act of incorporation.
"
"
1837, chap. 289
May connect with Tonawanda railroad.
SECOND AVENUE
Gen. Law
Articles of association filed, Jan. 21, 1853.
"
"
1855, chap. 373
May construct draw-bridges.
"
"
1857, chap. 551
May abandon old and construct new track.
*SHARON & Roor
1838, chap. 304
Act of incorporation.
SIXTH AVENUE
Gen. Law
Articles of association filed, Dec. 29, 1851.
*SKANEATELES
1836, chap. 371
Act of incorporation.
"
1838, chap. 68
Amends act of incorporation.
"
1841, chap. 135
Amends act of incorporation.
"
1845 chap. 50
Amends act of incorporation.
SODUS POINT & SOUTHERN
Gen. Law
Articles of association filed, March 19, 1852.
"
"
"
1853, chap. 425
Any railroad co. may subscribe for shares.
"
"
"
1854, chap. 361
Sodus, Areadia and Phelps may subscribe
"
"
"
1855, chap. 174
Appoints three inspectors of elections.
"
"
"
1856, chap. 152
Amends act of 1854, chap. 361.
STATEN ISLAND
1836, chap. 425
Act of incorporation.
"
"
Gen. Law
Articles of association filed, Oct. 18, 1851.
"
"
1853, chap. 61
May own and run a steam ferry.
"
"
1853, chap. 453
Extends time for commencing construction.
"
"
1855, chap. 266
Extends time for commencing construction.
"
4
1857, chap. 107
May own and run a steam ferry.
SYRACUSE & BINGHAMTON
1848, chap. 203
Declares public utility of such road.
"
"
Gen. Law
Articles of association filed, Aug. 13, 1851.
"
"
1852, chap. 114
Binghamton may take stock.
-6
"
1853, chap. 205
May consolidate with Oswego and Syracuse.
SYRACUSE, BINGHAMTON & N. YORK
1857, chap. 214
Changes name from Syracuse and Southern
"
"
"
Gen. Law
Articles of association filed, April 30, 1857.
"
"
"
1858, chap. 274
May purchase Union railroad.
"STRACUSE, CORTLAND & BINGHAMTON
1836, chap. 423
Act to incorporate.
*SYRACUSE & ONONDAGA
1836, chap. 348
Act to incorporate.
*SYRACUSE & ROCHESTER DIRECT
Gen. Law
Articles of association filed, Aug. 6, 1850.
"
"
"
Gen. Law
Roch. and Syr railroad transferred, Aug. 6, '50
"SYRACUSE & SOUTHERN
Gen. Law
Articles of association filed, Oct. 18, 1856.
"
"
1857, chap. 214
Name changed to Syr., Bing. and N. York.
*SYRACUSE STONE
1836, chap. 347
Act of incorporation.
SYRACUSE & UTICA
1836, chap. 292
Act of incorporation.
"
"
1841, chap. 24
Amends act of incorporation.
"
"
1844, chap 335
Requires payment of toll on freight.
"
"
1845, chap. 343
May borrow $250,000.
"
"
1847, chap. 270
May carry freight on paying tolls.
:
"
1847, chap. 405
May issue stock or borrow money for 2d track.
"
"
1853, chap. 76
New York Central Consolidation act.
Digitized by Google
LIST OF RAILROAD COMPANIES IN NEW YORK.
349
Corporate Titles of Companies.
Laws
Abstract of Acts.
SYRACUSE & UTICA
Gen. Law
Consolidation agreement filed, July 7, 1853.
*SYRACUSE & UTICA DIRECT
Gen. Law
Articles of association filed, Jan. 26, 1853.
"
"
1853, chap. 76
New York Central Consolidation Act.
"
"
"
Gen. Law
Consolidation agreement filed, July 7, 1S53.
THIRD AVENUE (N. Y.)
Gen. Law
Articles of association filed, Oct. 8, 1853.
TONAWANDA
1832, chap. 241
Act of incorporation.
"
1840, chap. 116
Amends act of incorporation.
"
1840, chap. 200
Act to aid construction of road.
"
1844, chap. 17
Amends act of incorporation.
"
1844, chap 50
May connect with Auburn and Roch. road.
"
1844, chap. 335
Requires State tolls on freight.
"
1846, chap. 292
Regulates charges on freight
"
1847, chap. 270
May carry freight by payment of tolls.
"
1847, chap. 405
May issue stock or borrow money for 2d track.
"
1848, chap. 151
Time extended, etc.
"
1850, chap. 236
May consolidate with Attica and Buffalo Co.
"
Gen. Law
Articles of association filed, Dec. 7, 1850.
"TRENTON & SACKETT'S HARBOR
1857, chap. 428
Act of incorporation.
TROY & BENNINGTON
Gen. Law
Articles of association filed, May 27, 1851.
TROY & BOSTON
1848, chap. 173
Determines public utility of such road.
"
"
Gen. Law
Articles of association filed, March 22, 1849.
"
"
1851, chap. 533
May lease part of Western Vermont R. R.
"
"
1855 chap. 128
Extends time for compliance with sec. 47, G. L.
"
"
1857, chap. 518
Extends time for compliance with sec. 47, G. L.
"
"
1859, chap. 119
May erect freight house, etc., in Troy.
TROY & GREENBUSH
1845, chap. 323
Act of incorporation.
"
1848, chap. 38
Amends act of incorporation.
TROY & RUTLAND
1849, chap. 329
Declares public utility of such road.
"
"
Gen. Law
Articles of association filed, July 2, 1849.
"
"
Gen. Law
Articles of association filed, Nov. 15, 1849.
*TROY & STOCKBRIDGE
1836, chap. 277
Act of incorporation.
"
"
1837, chap. 374
Amends act of incorporation.
"
"
1839, chap. 106
Extends time for procuring stock subscriptions.
*TROY TURNPIKE & R. R
1831, chap. 182
Act of incorporation.
..
"
"
1835, chap. 25
Amends act of incorporation.
"
"
"
1837, chap. 169
May borrow $100,000.
"
"
"
1838, chap. 185
Amends act of incorporation.
"
"
"
1839 chap. 368
Amends act of incorporation.
"
"
"
1846, chap. 320
Revives act of incorporation.
"
"
"
1856, chap. 50
May transfer part of road-bed to City of Troy.
TROY UNION
1851, chap. 255
Act of incorporation.
"
"
Gen. Law
Articles of association filed, July 21, 1851.
"
"
1853, chap. 462
Provides for taxation of property.
*TRoy & UTICA
Gen. Law
Articles of association filed, Feb. 22, 1853.
*TYRONE & GENEVA
1837, chap. 472
Act of incorporation.
*ULSTER COUNTY
1836, chap. 421
Act of incorporation.
*UNADILLA & SCHOHARIE
1836, chap. 269
Act of incorporation.
UNION (RAMAPO)
Gen. Law
Articles of association filed, Jan. 20, 1851.
UNION (SYRACUSE)
Gen. Law
Articles of association filed, Sept. 9, 1852.
"
"
1858, chap. 274
May sell road to Syr., Bing & N. York Co.
*UNION (WESTCHESTER Co.)
Gen. Law
Articles of association filed, Dec. 15, 1859.
"UTICA & BINGHAMTON
Gen. Law
Articles of association filed, June 15, 1853.
"
"
1854, chap. 367
Town of Oxford may aid the company
"
"
1854, chap. 372
Act to facilitate construction.
"
"
1854, chap. 377
Town of Shelburne may aid company.
"
"
1854, chap. 378
Empowers company to apply for the appraisal
of land.
"
"
1854, chap. 379
Town of Norwich may aid company.
44
"
1855, chap. 66
Any town in Madison, Chenango and Broome
counties may take stock.
"
"
1855, chap. 237
Time extended for commencing construction.
"
"
1855, chap. 504
Any town in Oneida co. etc. may take stock.
"
"
1857, chap. 510
Time for construction extended.
UTICA & SCHENECTADY
1833, chap 294
Act of incorporation.
"
1837, chap. 12
Authorizes the conveyance of mails.
"
"
1837, chap. 363
May carry extra baggage.
«
"
1844, chap. 335
May carry freight on paying tolls.
"
"
1845, chap. 342
May borrow $500,000
Digitized by Google
350
GENERAL RAILROAD LAWS OF NEW YORK.
Corporate Titles of Companies.
Laws.
Abstract of Acts.
UTICA & SCHENECTADY
1847, chap. 270
May carry freight on paying tolls.
"
"
1647, chap. 405
May issue stock or borrow money for 2d track.
"
"
1853, chap. 76
New York Central Consolidation act.
"
"
Gen. Law
Consolidation agreement filed, July 7, 1853.
*UTICA & SUSQUEHANNA
1832, chap. 289
Act of incorporation.
*UTICA & SYRACUSE STRAIGHT LINE.
Gen. Law
Articles of association filed, Sept. 21, 1852.
"
"
"
"
Gen. Law
Articles of association filed, Sept 28, 1852.
"UTICA & WATERVILLE
Gen. Law
Articles of association filed, July 11, 1854.
*WARREN COUNTY
1832, chap. 167
Act of incorporation.
*WARSAW & LE Roy
1834, chap. 291
Act of incorporation.
"
"
1836, chap. 105
Amends act of incorporation.
*WARWICK
1837, chap. 415
Act of incorporation.
"
1842, chap. 229
Revives act of incorporation.
*WASHINGTON COUNTY CENTRAL
Gen. Law
Articles of association filed, Dec. 13, 1853.
"
11
"
1855, chap. 403
Extends time for construction.
WATERTOWN & CAPE VINCENT
1836, chap. 341
Act of incorporation.
"
"
"
1845, chap. 331
Revives act of incorporation.
WATERTOWN & ROME
1832, chap. 173
Act of incorporation.
"
"
1836, chap. 283
Revives and amends act of incorporation.
"
"
1837, chap. 346
Revives and amends act of incorporation.
"
"
1845, chap. 337
Revives and amends act of incorporation.
"
"
1847, chap. 147
Amends act to revive, etc.
"
"
1847, chap. 393
May borrow money.
"
"
1849, chap. 235
Amends act of incorporation.
"
"
1853, chap. 336
Extends time for completion.
"
"
1854, chap. 154
May endorse and guarantee bonds of Pots-
dam and Watertown R. R. Company.
"
"
1857, chap. 473
Changes time for annual meeting.
*WATERVLEIT & SCHENECTADY
1836, chap. 416
Act of incorporation.
*WESTCHESTER COUNTY CENTRAL
Gen. Law
Articles of association filed, April 4, 1856.
"
"
"
1857, chap. 478
May construct bridges.
"
"
"
1858, chap. 189
Act for relief of company.
*WESTCHESTER COUNTY & N. Y. CITY.
Gen. Law
Articles of association filed, Jan. 30, 1860.
*WESTSIDE
Gen. Law
Articles of association filed, Feb. 11, 1854.
*WHITEHALL & PLATTSBURG
Gen. Law
Articles of association filed, April 11, 1853.
"
"
1853, chap. 176
Any R. R. Co. may subscribe for stock.
WHITEHALL & RUTLAND
1833, chap. 239
Act of incorporation.
WILLIAMSPORT & ELMIRA
1850, chap. 233
May construct road within New York.
"
1852, chap. 303
Elmira may borrow $100,000 to aid company.
GENERAL LAWS IN RELATION TO RAILROADS.
[Brief abstracts of all the General Laws that have been passed are given, although many of them
have been repealed
Laws.
Provisions of the Several Laws.
1834, chap. 187
To prevent injury being done to any railroad, and to ensure the safety of passengers.
1834, chap. 276 Canal Commissioners invested with supervisory power over such portion of any rail-
road that passes over any canal or feeder.
1835, chap. 300
Commissioners of Highways may permit the construction of railroads across any
road or public highway.
1836, chap. 316
Authorizes the construction of railroads over Indian lands.
1837, chap. 300
In relation to unclaimed trunks and baggage.
1537, chap. 431
Subjects stock corporations to assessment for highway labor.
1838, chap. 161
Railroad companies required to deposit with the comptroller maps, profiles, etc., of
their respective roads.
1838, chap. 160
To punish for wilful injuries to railroads.
1839, chap. 218
Authorizes railroad companies to contract with each other for certain purposes.
1840, chap. 259
Requires every railroad company to which the credit of the State has been loaned,
or which may hereafter ask aid of the State to furnish to the Surveyor-General
maps, plans, etc.
1840, chap. 358
Concerning payment of interest on State loans, etc.
Resolution requiring companies to make annual reports to the Secretary of State
by the lst day of February of each year. Passed February 3d, 1843.
1844, chap. 335
Requiring tolls to be paid on freights transported over railroads extending from
Schenectady to Buffalo.
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GENERAL RAILROAD LAWS OF NEW YORK.
351
Laws.
Provisions of the Several Laws.
1845, chap. 149
In relation to carrying the United States mails on railroads.
1843, chap. 230
In relation to the contracts of companies, restricting them as to the amount of
debts to be incurred.
1846, chap. 155
In relation to railroad charters.
1846, chap. 215
Requiring companies to contract for carry the United States mails.
1847, chap. 22
In relation to railroads connecting and intersecting.
1847, chap. 100
In relation to the destruction of Canada thistles and other noxious weeds on railroads.
1847, chap. 270
In relation to the transportation of freight on certain railroads.
1847, chap. 272
Authorizes companies to lay down heavy iron, to alter the lines of their roads, and
to acquire the title to lands which has failed, etc.
1847, chap. 272
Requires companies to furnish checks for baggage.
1847, chap. 404
Enables companies to alter their routes and acquire title to lands.
1847, chap. 405
Authorizes certain companies to issue stock or borrow money to lay down a 2d track.
1847, chap. 450
Requires compensation for causing death, by wrongful act, neglect or default.
1847, chap. 470
Corporations may be sued before Justices of the Peace.
1848, chap. 140
Authorizes the formation of railroad companies.
1848, chap. 145
In relation to existing railroad companies.
1849, chap. 256
Amends act of 1847, chap. 450.
1849, chap. 271
Amends act of 1848, chap. 140.
1849, chap. 434
Amends act of 1848, chap. 140: companies to report to the State Engineer and
Surveyor annually.
1850, chap. 140
Authorizes the formation of railroad companies and regulates the same. (Referred
to as the General Railroad Act.)
1850, chap. 147
Authorizes any company in the State to take stock in the Buffalo and State Line Co.
1850, chap. 268
Authorizes transportation of live-stock upon railroads free from canal tolls.
1851, chap. 19
Line of road common to two companies may be constructed by one, etc.
1851, chap. 117
Any railroad company in State may subscribe to the capital stock of the Attica
and Hornellsville Railroad Company.
1851, chap. 157
Authorizes the railroad companies in the State to subscribe to the capital stock of
the Great Western Railroad Company of Canada.
1851, chap. 176
In relation to the assessment of taxes.
1851, chap. 497
Abolishes tolls on railroad traffic.
1852, chap. 147
Authorizes Buffalo to borrow money and to make investments in the Brantford and
Buffalo Joint-Stock Railroad Company.
1853, chap. 53
Amends act passed 13th February, 1851.
1853, chap. 62
Regulates the construction of roads and streets across railroad tracks.
1853, chap. 76
Authorizes the consolidation of certain railroad co.'s between Albany and Buffalo.
1853, chap. 176
Any railroad corporations may take stock in the Whitehall and Plattsburg Rail-
road Company.
1853, chap. 220
In relation to railroads on Long Island.
1853, chap. 425
Authorizes any railroad company to take stock in the Sodus Point and Southern
Railroad Company.
1853, chap. 502
Authorizes the stockholders of railroad companies to make payments on mortgages
in process of foreclosure against such companies, and thereupon become interested
in said mortgages.
1853, chap. 460
Authorizes any railroad company in the State to take stock in the Attica and
Alleghany Valley Railroad Company.
1854, chap. 13
Authorizes the railroad companies in the State to subscribe to the capital stock of
the Alleghany Valley Railroad Company of Pennsylvania.
1854, chap. 140
In relation to the construction of railroads in cities.
1854, chap. 283
Amends laws of 1850, chap. 140.
1855, chap. 302
In relation to railroads under lease.
1855, chap. 474
For the protection of emigrants.
1855, chap. 244
Authorizes the Delaware, Lackawanna and Western Railroad Company of Penn-
sylvania to make contracts in this State.
1855, chap. 478
Authorizes the change of grade of railroads in certain cases.
1855, chap. 499
In relation to stealing and forging of railroad tickets.
1855, chap. 526
Establishes a Board of Railroad Commissioners, and defines their powers and duties.
1856, chap. 146
Authorizes the construction of a bridge across the Hudson River at Albany, etc.
Any railroad company may subscribe to the capital stock of this Bridge Co.
1857, chap. 185
To prevent extortion by railroad companies.
1857, chap. 444
Amends General Railroad Act of 1850.
1857, chap. 470
To prevent frauds in the sale of tickets upon railroads.
1857, chap. 536
Railroad companies to deliver to the assessors a classified list of all their real estate
owned in towns or wards in which located, and fixing a valuation to the same.
1857, chap. 628
To suppress intemperance.
1857, chap. 633
Repeals law of 1855, chap. 526, and authorizes the appointment of a deputy by the
State Engineer and Surveyor.
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352
RAILROAD LAWS OF NEW YORK-PASSED, 1860.
Laws
Provisions of the Several Laws.
1857, chap. 733 To pay persons employed by the railroad commissioners.
1858, chap. 110 Repeals parts of law of 1857, chap. 536.
1858, chap. 125 In relation to sleeping cars on railroads.
1858, chap. 209 Provides for the payment of the Deputy State Engineer and Surveyor.
1859, chap. 483
Authorizes the laying of a railroad track in and through certain streets in the city
of Syracuse.
1859, chap. 501
Authorises the laying of a track on the side of the Chenango canal.
SUPPLEMENT-LAWS PASSED, 1860.
Corporate Titles of Companies.
Chap.
Abstract of Acts.
New YORK CITY (GENERAL)
10
In relation to street railroads in the city of N. York.
HUDSON RIVER & LAKE ONTARIO
37
Act to facilitate completion of road.
BUFFALO, BRADFORD & PITTSBURG
40
Extends time for completion of road.
BLACK RIVER & UTICA
134
For relief of bondholders.
WESTCHESTER COUNTY
143
Act of incorporation. Authorizes the construction of
a railroad in the towns of West Farms, West-
chester, Eastchester, New Rochelle, Yonkers and
Morrisania.
BUFFALO CITY (GENERAL)
145
In relation to street railroads in the city of Buffalo.
NEW York & ERIE
160
Relating to foreclosure and sale of N. Y. & Erie R. R.
RAVENSWOOD, HALLET Av. & WMS'BRG
198
Authorizes the construction of a double railroad.
ERIE & NEW YORK CITY
234
Authorizes the sale of the whole or part of this road
to the Atlantic and Great Western R. R. Co.
CHERRY VALLEY & SPRAKER'S
255
Act to incorporate a horse-power railroad.
SACKETT'S HARBOR, ROME & N. YORK
273
Act of incorporation.
Sopus POINT & SOUTHERN
284
Extends time for completing road.
LEBANON SPRINGS
285
Extends time for completing road.
OGDENSBURG, CLAYTON & ROME
327
Provides for the payment of principal and interest
of bonds issued by the village of Rome to company.
SACKETT'S HARBOR, ROME & N. YORK
343
Reduces the share capital.
SODUS BAY & SOUTHERN
405
Authorizes the city of Auburn to issue $100,000 in
bonds to company.
NINTH AVENUE
411
Confirms grant of the Common Council authorizing
the construction of such road.
NEW YORK CENTRAL
452
May erect station-house at Geddes.
BROOKLYN CENTRAL
-
460
BROOKLYN & JAMAICA
May consolidate.
BROADWAY (N. Y. City)
461
Act authorizing construction of such road.
BROOKLYN & NEWTOWN
462
Authorizes the laying out of a double railroad track
in the city of Brooklyn and town of Newtown.
AVENUE D
Act of incorporation.
SEVENTH AVENUE
Act of incorporation.
FOURTEENTH STREET
Act of incorporation.
SOUTH & WEST STREETS
Act of incorporation.
TENTH AVENUE & 42D STREET
Act of incorporation.
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CANALS OF THE STATE IN DETAIL.
DELAWARE AND HUDSON CANAL AND RAILROAD.
(Financial year ending 1st March, 1860.)
BOARD OF DIRECTORS AND OFFICERS, 1860-61.
John Wurtz
New York City, N.Y.
Robert Ray
New York City, N.Y.
Silas Holmes
"
"
Saml. B. Schieffelin
"
"
Wm. S. Herriman
"
"
Abiel A. Low
"
"
Charles N. Talbot
"
"
Robert L. Kennedy
"
"
Edward J. Woolsey.
"
"
John Schenck
"
"
LeGrand B. Cannon.
"
"
James M. Halsted
"
"
G. TALBOT Olyphant, President
New York City, N.Y.
ROBERT SOUTTER, Vice-President
"
"
ISAAC N. SEYMOUR, Treasurer
"
"
JAMES C. HARTT, Secretary
"
"
PRINCIPAL OFFICE
No. 29 William street, NEW YORK CITY, N.Y.
LENGTH OF CANAL-Eddyville (Rondout), N.Y., to Honesdale, Pa.
108 miles.
Width-at top, 50 feet, and at bottom, 32 feet. Depth, 6 feet.
Locks-Lift, 105 ; guard, 3, and weigh, 2. Size of locks, 100X19 feet.
Equipment-Canal boats, 500 barges, 50, and steamboats, 2.
LENGTH OF RAILROAD-Olyphant to Honesdale
26 50 miles.
Branch Road
1.00
"
Second track, 26.50 miles. Sidings, 1.3 mile. Unfinished road, 34 miles.
Mine roads, with iron, about 20 miles-without iron, about 12 miles.
Equipment-Locomotive engines, 2; stationary, 18
20
Cars :-freight, 10; coal, 1,500 mining, about 800
2,310
The Delaware and Hudson Canal Company was incorporated in the State of
New York on the 23d April, 1823. The construction of the canal was com-
menced in July, 1825, and completed in Oct., 1828. The railroad connecting
the canal with the coal fields was not completed till 1829, and hence the trans-
portation of coal did not commence till 1830, in which year 43,000 tons were
sent to market. The regular statements of the Company were not made till
1831, which year may be regarded as the commencement of its operations.
The charter of the Company conferred banking powers which were
exercised up to 1846, when they expired.
The canal commences at Eddyville, on Rondout Creek, near its junction
with the Hudson River, and follows up the valley of the Rondout to the sum-
mit, 38 miles from the Hudson and elevated 535 feet above tidewater, and 80
feet above the Delaware River at the point of its junction with it. After
reaching the Delaware, the canal follows up the valley of that river, 17 miles
to the mouth of the Lackawaxen, ascending in this distance 148 feet. It then
follows up the valley of the last-named river, 26 miles, to Honesdale, ascend-
ing in this distance 187 feet. It crosses the Delaware and Lackawaxen
Rivers by aqueducts.
The canal, as first constructed, was 4 feet deep, with locks 76 by 9 feet,
having a capacity to pass boats of 30 tons burden. In 1842, an enlarge-
ment to give five feet water was commenced, which would allow the use of
boats of 40 tons burden. In 1843 the enlargement was SO far completed
45
353
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354
NEW YORK-DELAWARE AND HUDSON.
as to admit the passage of boats of 35 tons burden. In 1844 the capacity of
the canal was increased to boats of 43} tons. In the same year the en-
largement was determined on 80 as to give a depth of water 51 feet.
In 1845 a capacity for boats of 451 tons was reached, and in 1846, of 54
tons. The cost of the enlargement up to this period was $253.368, and the
capacity of the canal increased from 518,400 to 864,000 tons in a season.
In 1848 the Company determined upon a further enlargement, partly in
view of the construction of the Pennsylvania Coal Company's road, which
extends from the coal fields near Pittston to the canal at Hawley. The
enlargement contemplated a depth of water of 6 feet, a width at bottom of
32 feet, and at top of 50 feet; and locks 100 by 19 feet, having capacity for
hoats of 140 tons. The enlargement was completed in 1852. The capacity
of the canal has probably been increased to 2,000,000 tons annually. It
has an abundant supply of water at all seasons of the year.
The railroad of the Company is what is termed a gravity road, having two
distinct tracks, each made up of long and short inclined planes. The former
have inclinations averaging 47 feet to the mile for the descending cars. The
latter are steep inclines, up which the trains are drawn by stationary engines,
or water power. There are 26 planes, overcoming an elevation of 906
feet, worked by 18 stationary engines, and 4 water wheels.
To aid in the construction of the works of the Company the State of New
York in 1827 loaned its credit to the Company for the sum of $500,000 at
an interest of 5 per cent., and in 1829 for $300,000 at an interest of 41 per
cent. These loans were fully paid off by the Company on the 1st January
1848 and 1850 respectively.
The company has a contract with the Pennsylvania Coal Company, where-
by the latter agrees to pay for the use cf the canal a sum depending on the
average price for the year of lump coal at Rondout.
SHARE CAPITAL-Authorized, $7,500,000, in 170,000 $100 shares.
Paid in, - $7,500,000, in 170,000
"
FUNDED Девт—$900,000; classified as follows—
Seven per cent. coupon bonds
$600,000
-dated 1st December, 1853, and payable, principal in 12 years, and interest
semi-annually, 1st June and 1st December, in New York City.
Seven per cent. coupon bonds
$300,000
-dated 1st June, 1858, and payable, principal in 5 years, and interest semi-
annually, 1st June, and 1st December, in New York City.
Seven per cent. coupon bonds
$,
-dated 1st March, 1860, and payable, principal in 10 years, and interest
semi-annually, 1st March and 1st September, in New York City. None of
these bonds have been issued to date. They will be disposed of, as needed,
at not less than par. Amount provided $600,000.
SINKING FUND.-In 1857 the Company established a Sinking Fund for the
payment of its bonds at maturity by an annual appropriation for such pur-
pose of a sum equal to one per cent. on the share capital.
FLOATING DEBT-See Balance Sheet.
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NEW YORK-DELAWARE AND HUDSON.
355
COST OF CANAL
$6,185,616.
I
Cost OF RAILROAD, ETC.
$1,792,829
INCOME ACCOUNT FOR THE YEAR ENDING 1ST MARCH, 1860.
Receipts-
Disbursements-
Sales of coal
$1,831,050
Coal on hand 1st March, 1859
$221,611
Canal and railroad tolls
311,598
Mining expenses, 1859-'60
435,007
Profit on barges, etc
53,731
Railroad transportation and repairs
334,158
Coal on hand at Honesdale, Weymart,
Canal repairs and superintendence
227,595
Rondout and New York
428,508
Freight of coal to Rondout
468,940
Labor and expenses at Rondout
58,677
Rent, salaries, etc., (New York office).
37,546
Coal yard and harbor expenses, inter
est, taxes, etc
223,141
Balance of earnings
618,211
Total
$2,624,887
Total
$2,624,887
GENERAL LEDGER BALANCE SHEET, 1ST MARCH, 1860.
Dr.
Cr.
Canal
$6,185,616
Share capital
$7,500,000
Railroad and equipment
1,792,829
Seven per cent. bonds
900,000
Coal lands and other real estate
756,129
Mortgages payable
$141,723
Canal boats, barges, steamboats, etc.
362,871
Bills payable
630,250
Sinking Fund for bond 8
75,000
"
"
1861
262,929
Mortgages receivable
$68,399
Due depositors
126,725-
1,161,626
Bills and accounts
355,589
Profit and Loss
785,766
Cash and loans
82,342
Coal on hand at New York,
Rondout, and Honesdale
with advances on busi-
ness of 1860
669,678- 1,175,948
Total
$10,347,393
Total
$10,347,393
Statement showing the amount (tons) of coal transported on the canal to
market in each year since 1830 :
1831
43,000
1837
103,861
1843
205,553
1849
437,500
1855
935.054
1832
54,000
1838
115,387
1844
227,605
1850
454,254
1856
1,070,263
1833
84,600
1839
78,207
1845
251,005
1851
543,353
1857
1,112,150
1834
111,777
1840
122,300
1846
273,435
1852
788,495
1858
1,024,550
1835
43,700
1841
148,470
1847
320,000
1853
924,003
1859
978,845
1836
90,000
1842
192,270
1848
388,203
1854
1,006,986
1860
1,279,354
1st 6 yrs. 427,077
2d 6 yrs. 760,495
3d 6 yrs. 1,665,501
4th 6 yrs. 4,154,591
5th 6 yrs. 6,400,216
Average. 71,179
Average 126,749
Average. 277,500
Average. 692,432
Average 1,066,702
-making a total in 30 years of 13,407,900 tons, or an annual average of
446,930 tons. During the first 20 years of the period embraced in the above
table the supply was derived solely from the Canal Company's mines. The
last ten years includes also the supplies derived from the Pennsylvania Coal
Company's mines. The following exhibits the quantities sent to market by
the companies respectively, and the total for each of the last ten years :
Canal
Penn. Coal
Total
Canal
Penn. Coal
Total
Year.
Company.
Company.
in Tons.
Year
Company.
Company.
in Tons.
1851
432,339
111,014
543,353
1856
565,460
504,803
1,070,263
1852
472,478
316,017
788,495
1857
499,650
612,500
1,112,150
1853
497,839
426,164
924,003
1858
480,677
543,873
1,024,550
1854
494,327
512,659
1,006,986
1859
348,789
630,056
978,845
1855
438,406
496,648
935,054
1860
591,000
688,354
1,279,354
1st 5 years.
2,335,389
1,862,502
4,197,891
2d 5 years.
2,485,576
2,979,586
5,465,162
Average
467,078
372,500
839,578
Average
497,115
595,917
1,093,032
-making a total of 4,820,965X4,842,088=9,663,053, or an annual average of 966,305
tons.
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by
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av.
29 y. 29
'60
69,
'58
'57
99
'55
'54
53
'52
19.
'50
'49
'48
'47
DF.
'45
H.
'43
'42
'41
'40
'39
38
'37
'36
35
'34
'33
'32
Year ending 1st March.
8,661,406
106,180,760
6,184,616
6,156,489
6,120,384
6,084,273
6,048,166
6,012,059
5,975,952
5,859,342
5,691,409
5,397,901
4,191,447
3,153,346
2,650,494
2,569,984
2,488,484
2,406,978
2,384,029
2,361,061
2,338,133
2,315,185
2,292,237
2,269,289
2,261,384
2,253,487
2,245,584
2,237,684
2,229,784
2,008,821
$1,992,747
Cost of Canal.
101°89'
5,840,358
362,871
442,862
421,876
400,892
879,908
358,294
337,940
316,956
295,972
274,988
254,004
228,202
202,414
176,626
150,848
125,060
115.546
110,566
105,536
100,506
95,746
90,444
85,415
80,386
75,356
70,326
65,296
60,266
$55,236
Boats, barges,
& steamboats.
18,799,597
1,792,829
1,484,762
1.127,319
1,000,634
446,105
418,368
392,631
364,894
337,157
334.952
328,352
325,052
321,752
317,452
314,152
$310,852
Railroad and
648,262
857,405
843,030
839,726
822,094
790,636
764,577
741.576
711,443
665,423
611,476
557,528
503,580
473,842
Equipment.
Cosr OF PROPERTY.
181,248
5,256,061
756,129
445,094
306,851
269,956
261,733
233,512
215,291
197,070
178,849
160,628
142,407
138,107
133,808
129,509
125,211
120,911
118,581
117,420
116,259
115,098
113,937
112,776
111,615
110,454
109,293
108,132
106,971
106,810
$104,649
Coal lands and
Real Estate.
136,076,776
9,096,445
8,529,207
7,976,430
7,755,755
7,537,212
7,446,895
7,368,909
7,195,462
6,956,866
6,598,094
5,329,434
4,231,098
3,652,139
3,487,595
3,322,071
3,156,529
3,092,048
3,035,172
2,978,296
2,923,420
2,866,814
2,809,666
2,793,366
2,772,639
2,755,285
2,737,894
2,719,503
2,489,049
$2,463,484
Total Cost.
1,193,582
34,613,894
1,831,050
1,666,633
2,009,601
2,236,008
1,844,485
2,398,443
2,046,034
1,780,359
1,553,973
1,445,320
1,817,819
1,590,965
1,589,420
1,330,568
1,040,778
864,107
804,901
781,170
1,116,773
632,247
613,318
485,032
591,399
583,624
472,040
327,264
379,200
431,136
$350,227
Sales of Coal.
161,662
4,688,203
307,698
485,198
$20,554
Railroad and
311,698
584,751
652,363
587,349
378,479
293,175
158,442
97,999
34,818
46,548
38,971
26,069
25,881
33,526
30,996
33,895
39,388
35,460
40,095
40,328
44,832
45,155
41,977
36,946
37,005
28,717
Canal Tolla.
33,174
962,034
GROSS EARNINGS.
53,731
17,508
20,112
7,962
2,117
9,336
21,841
56,192
278,129
131,172
Interest, rents,
45,325
32,810
31,588
32,985
15,458
23,251
23,846
47,286
8,309
12,686
11,846
15,679
20,552
12,862
546
9,191
17,835
$1,880
etc., etc.
1,585,584
45,981,944
2,624,886
2,213,450
3,055,615
3,562,051
3,306,691
3,172,001
2,771,494
2,447,771
2,078,595
2,126,563
2,157,612
1,893 178
1,757,913
1,464,344
1,126,177
986,544
930,203
963,602
1,308,307
850,243
760,272
618,608
761,377
662,881
552,854
446,256
485,367
624,478
$372,661
Total including
Coal on hand.
197,746
5,734,649
221,611
590,703
741,292
801,881
207,593
337,644
291,229
809,888
805,117
173,803
210,339
96,712
35,855
71,054
124,691
104,870
174,236
94,178
81,402
109,467
13,500
25,975
81,900
186,180
101,494
16,807
$74,662
Coal on hand
76,119
73,452
from last year.
199,828
5,794,882
435,007
232,607
311,128
331,550
382,985
408,481
372,574
303,419
380,053
273,251
276,220
287,109
279,830
213,564
163,454
132,364
107,643
107,684
111,570
85,103
85,433
67,330
90,151
88,951
62,643
52,838
$46,314
Expenses of
30,543
75,183
Mining.
168,916
4,898,554
Railroad Ex-
334,158
213,059
266,771
303,246
313,387
293,506
274,774
289,768
287,439
261,566
216,154
220,576
193,931
144,272
108,259
117,544
103,808
115,756
111,604
88,892
88,871
78.098
124,626
L68'06
67,804
50,408
53,126
55,844
$30,210
penses and
Repairs.
453,422
13,149,237
Canal Expenses
696,535
530,330
763,516
807,056
889,259
788,754
717,008
633,593
579,707
636,442
581,323
569,164
512,000
427,928
360,656
343,047
332,757
372,893
412,282
298,287
308,118
187,906
284,485
249,039
185,676
117,460
156,593
195,726
$103,697
and Superin-
tendence.
CURRENT EXPENSES.
STATEMENT, showing the operations of the Delaware and Hudson Canal Company for each year since 1831 to the present time.
119,220
3,457,377
319,364
226,101
256,960
214,622
Interest and
287,521
243,475
184,936
146,095
166,996
26,058
30,100
40,781
61,388
59,959
63,172
63,587
64,603
66,348
38,629
72,555
79,136
77,708
87,920
88,208
81,796
85,620
79,282
72,826
$77,591
other expenses.
1,139,127
63,034,009
2,006,675
0087621
2,370,228
2,500,693
2,007,796
2,071,860
1,940,521
1,682,863
1,619,312
1,369,920
1,314,133
1,214,342
1,123,268
881,578
768,993
727,596
733,502
767,551
857,321
639,010
642,860
520,509
600,682
538,070
479,819
470,211
643,773
416,336
$332,474
Total Expenses.
446,456
12,947,245
618,211
420,650
685,387
1,061,358
1,298,895
1,100,141
830,972
764,908
459,282
756,645
843,476
678,836
634,645
582,767
857,184
258,948
196,701
196,051
440,986
211,233
117,412
660'86
124,761
Loss.
Earnings less
160,694
73,035
=
108,142
$40,187
Expenses.
413,779
11,999,594
525,000
525,000
525,000
898,560
1,168,280
864,000
792,000
648,000
576,000
546,000
809,248
730,360
661,222
576,600
445,904
691,920
153,760
158,760
172,980
163,146
134,092
134,092
=
=
=
=
nil.
52,720
$51,950
Amount.
DIVIDENDS.
to
2691
&
7
7
12
.16
12
11
6
8
8
14
16
18
20
16
34
8
8
6
18
7
7
=
R
=
=
mill
38
18
Rate, per cent.
NEW YORK-DELAWARE AND HUDSON CANAL
998
NEW YORK STATE CANALS
ERIE CANAL.
BALDWINSVILLE SIDE-CUT.
CHAMPLAIN CANAL:
CAYUGA AND SENECA CANAL.
BLACK RIVER CANAL.
CROOKED LAKE CANAL.
BLACK RIVER IMPROVEMENT.
CHEMUNG CANAL.
ONEIDA LAKE CANAL.
CAYUGA INLET.
ONEIDA RIVER IMPROVEMENT.
CHENANGO CANAL.
OSWEGO CANAL.
GENESEE VALLEY CANAL.
SENECA RIVER TOWING PATH.
EXTENSION OF GEN. VALLEY CANAL.
The valleys of the Hudson and Mohawk rivers, being depressed below the
general level of the country, were naturally seized upon by the earliest
explorers and traders as the most convenient route between the interior and
the Atlantic coast. The waters of the Mohawk took their rise in a plateau,
which was also drained in part by streams running into Lake Ontario.
These waters so intermingled that in times of floods the Indian in his canoe
could pass from one to the other. At these periods, a continuous water-
line extended between Lake Ontario and the harbor of New York.
The progress of population westward suggested at an early day the im-
provement of this natural highway. In 1724, Cadwallader Colden, then
surveyor general of the colony of New York, suggested a system of works
somewhat similar to that now existing. In 1768, Sir Henry Moore, the
governor of the colony, recommended to the legislature the improvement of
its inland navigation as worthy of attention. Action upon these recommen-
dations was necessarily postponed by the political troubles which soon
followed. The idea, however, was not lost sight of, and in the midst of the
revolutionary struggle, Gouverneur Morris predicted that, "at no distant day,
the waters of the great western inland seas would, by the art of man, break
through the barriers and mingle their waters with those of the Hudson,"-a
prediction which in after life he aided to fulfil.
With the independence of the country, the project was renewed. No defi-
nite action was taken, however, till 1808, when the subject was presented to
the attention of the legislature of the State, and a reconnoisance of the route
proposed, which was subsequently ordered, and a sum of six hundred dollars
voted to defray the expense. The survey was committed to James Geddes,
who was instructed by Mr. De Witt, the surveyor general-first, to examine
" what may appear the best place for a canal from Oneida Lake to Lake
Ontario;" and next, the ground between Lake Erie and Lake Ontario,
with a view to determine what will be the most eligible track for a canal from
below Niagara Falls to Lake Erie." The interior route was treated as a
subordinate object, or only thought of " as a work by itself, to be under-
taken hereafter, should government deem it necessary."
The Report of Mr. Geddes was made on the 12th of January, 1809, and
though necessarily imperfect, by reason of the inadequate means voted for
the survey, fully proved the practicability of the interior route, and the
357
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358
NEW YORK STATE CANALS.
benefits it would secure to a fertile country that could be reached by no
exterior route. No immediate legislative action followed, but the steps taken
served to excite increased interest on the subject of the proposed improve-
ments.
Before proceeding further with the historical sketch of the New York
Canals, it will be proper to record the efforts already made by incorporated
companies to open communications, by water, between the Hudson River,
Lake Ontario and Lake Champlain.
On the 15th February, 1791, a joint committee of the legislature was
appointed to enquire into the means of removing the obstructions to the
navigation of the Mohawk and Hudson Rivers, and on its recommendation,
an act was passed providing, among other things, for the survey of the
ground between Wood Creek and the Mohawk River, and between the
Hudson River and Wood Creek of Lake Champlain, and for estimates of
the cost of constructing canals on the respective routes. An effort to make
them State works was unsuccessful; and the report of the commissioners
resulted in the incorporation, in 1792, of the Western and the Northern
Inland Navigation companies-the one authorized to make a lock navigation
from the Hudson to Lake Ontario, and the other a similar navigation from
the Hudson to Lake Champlain.
In 1796, the Western Company surveyed a line for their proposed work,
and soon after constructed a canal around Little Falls, one mile long, with 5
locks; another over the Genesee Flats, with 2 locks, and a third from the
Mohawk to Wood Creek, running into Oneida Lake, with 2 locks and a
feeder. Several dams and locks were constructed on Wood Creek. These
works were completed in 1802, allowing the passage of boats of 15 tons bur-
den from Oneida Lake to the Lower Mohawk, at a cost of $450,000. To-
ward these improvements the State contributed, as a stockholder, $92,000.
From their limited capacity and imperfect construction, they proved unre-
munerative, their cost exceeding four times the estimates. The company
discouraged by the result suspended further operations.
The Northern Company did little or nothing toward the construction of
the works assigned to it.
As the people of the State became more familiar with the country on the
route now occupied by the Erie Canal, and as the need of such a work
became greater with the increase of population, the subject was again brought
to the attention of the Legislature; and on 1st March, 1810, a resolution
was adopted by that body for the appointment of a commission to examine
the route, the condition of the western navigation, the improvements expe-
dient to be made thereon, and to report in full to the Legislature at its next
session their estimates and opinions thereon. The report was in favor of the
interior route, and estimated the cost of a canal upon it at $5,000,000, and
recommended that the enterprize should be offered to the general govern-
ment. An act passed on 14th March, 1812, continued the commission,
and authorized an application for aid to Congress and the Legislatures of the
several States, and the appointment of engineers-appropriating $15,000 to
the service,
The aid of Congress was refused. The report to this effect, made to the
Legislature, in March, 1812, aroused the State pride, and a determination on
the part of the people to rely on their own resources in the prosecution of
the proposed works. It was followed by an act passed in June, authorizing
the commissioners to borrow $5,000,000, in Europe, on the credit of the
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NEW YORK STATE CANALS.
359
State. In consequence, however, of the hostilities which at that time were
existing, no loan was effected, and in 1814 the act was repealed, and all pro-
ceedings relative to the canal being suspended.
With the return of peace the project was revived. Public meetings were
held to discuss the proposed works, and numerous petitions presented to the
legislature in their favor. It was not, however, till 1816 that an act was
passed which was the incipient step in the construction of the present system
of public works. This act provided for the appointment of a board of
commissioners, to examine the whole subject and report their doings to the
succeeding Legislature. The duties imposed were faithfully discharged. The
commissioners reported detailed surveys and estimates, laying the foundation
for future action. On the 15th April, 1817, the act concerning navigable
communications between the Great Western and Northern Lakes and the
Atlantic Ocean" was passed. It continued the commissioners previously
appointed; established a canal fund; authorized the commencent of the
work, by opening communications by canals and locks between the Mohawk
and Seneca Rivers, and between Lake Champlain and the Hudson, and em-
powered the commissioners to purchase the rights of the Western Inland
Transportation Company, and to assess $250,000 upon lands on or within 25
miles of the route.
On the 27th June following the first contract was given out, and on the
14th July the ground for the Erie Canal was broken near Rome. The whole
line was divided into three sections the Western, extending from Lake Erie
to the Seneca River; the middle, from that river to Utica, and the Eastern,
from Utica to the Hudson. The middle section, including a branch from
Syracuse to Onondaga Lake, was rendered navigable in October, 1819. In
1819 and 1820, 43 miles on' the western section, chiefly on the east of the
Genesee river; and in 1820, 26 miles on the eastern section were put under
contract. Operations were conducted on both sections simultaneously. In
the early part of 1821, the residue of the eastern, and that part of the
western below the Genesee and Tonawanda Creek were let. In November,
of the same year, boats descended as far as the Little Falls on the Mohawk.
Towards the close of 1822, boats navigated 220 miles of the canal ; and in
October, 1823, 280 miles were finished, and boats from the north and west
entered the Hudson at Albany. On the 26th October, 1825, the first boat
passed from Lake Erie to the Hudson. The period between the commence-
ment and completion of this canal was eight years and three and a half
months. The union of the waters was appropriately celebrated in the city
of New York, on the 4th November, 1825.
The Champlain Canal was commenced in October, 1816; was navigable in
November, 1819, and was finally completed in 1823.
In 1820, the State acquired by appraisement and purchase the rights and
property of the Western Inland Navigation Company, paying for them the
sum of $151,821. The interest of the State as a stockholder, in this valu-
ation, amounted to $60,205.
No sooner were the works which constitute the great feature of the system,
the Erie and Champlain Canal, opened, than attention was directed to the
improvements suggested by the wants and topographical features of the
State. These were supplied by a number of lateral canals-the Oswego,
reaching to Lake Ontario; the Black River, connecting the Erie Canal with
the basin of the St. Lawrence; the Chanango, the Cayuga and Seneca, the
Crooked Lake, and the Chemung Canais, connecting it with the Susque-
hanna, and the Genesee Valley Canal, connecting it with the Alleghany river.
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NEW YORK STATE CANALS.
The dimensions of these several canals, as established by the commissioners
in 1817, were 40 feet in width, 4 feet deep, with locks 90 feet by 15 feet.
Their capacity was soon found to be inadequate to meet the wants of a
growing commerce. So early as 1834, this had become apparent, and in his
message to the Legislature at its opening in that year, Governor Marcy,
after alluding to the rapid increase of the trade of the lakes and canale, said—
It has already become quite evident that the capacity of the Erie Canal will
not much longer be adequate to the exigency of the business on it. The iin-
provements that will soon be required are double locke to facilitate the pas-
sage of boats, and the enlargement of the canal in its width and depth;" and
on the 29th January, the Canal Commissioners made a special communica-
tion to the Assembly in favor of doubling the locks east of Syracuse, and
rebuilding the aqueduct at Rochester. In view of these demands, an act was
passed in 1834 authorizing the Canal Commissioners "to construct a second
set of lift locks, of such dimensions as they should deem proper, on the Erie
Canal, from Albany to Syracuse." In the summer, preparations were made
to carry this act into effect; but at the session of 1835, the act of 1854 was
repealed, and another act passed for enlarging the Erie Canal in its whole
extent, and to reconstruct the aqueduct aforesaid, with a 40-foot waterway.
At this session were also passed the several acts authorizing the Black River,
Genesee Valley and other canals.
In July, 1835, the Canal Board resolved, "That the canal be enlarged, so
as to give 6 feet depth and 60 feet width of water on the surface, and that
the locks be 105 feet long and 15 feet wide in the clear." At an adjourned
meeting, held in the following October, it was voted to increase the depth of
the canal to 7 feet; its width to 70 feet, and the locks to 18 by 110 feet.
The estimated cost of the enlargement, to the extent proposed, with double
locks (but not including land damages), was $12,416,150, Little was done
toward the enlargement till 1837, when $636,312 was expended. For the
next five years, about $2,000,000 were annually expended, when the work was
suspended by act of the Legislature, in 1842. In 1847, an act was passed
for the resumption of the work of enlargement, under which it was resumed
and has steadily progressed to the present time.
The total length of all the canal and river improvements, with their navi-
gable feeders, belonging to the State on the 30th September, 1859, was 886
miles. In this length are included the unfinished works on the Black River,
and on the extension of the Genesee Valley Canal.
There is no doubt that the Erie, the leading work in the system of the New
York Canals, is by far the most important artificial highway in the United
States, both in the extent of its present commerce and in the influence it has
exerted in advancing the population, wealth and material interests of the
country. Its opening, in fact, gave, for the first time, commercial value to
the products of the interior. According to a report made in 1817, to the
Legislature of the State of New York, the cost of transporting a ton of mer-
chandize from Buffalo to Albany equaled $100, a sum far exceeding the value,
in New York, of most of the agricultural products of the country. The time
required was 20 days. The canal at once reduced the cost from $100 to $20,
and the time from 20 to 8 days. With the improvements on the canal, and
the enlargement, the cost of movement has been steadily reduced, so that for
the past year the average charge for transporting a ton of merchandize from
Albany to Buffalo was $2.40, including tolls. The tabular statements accom-
panying this memoir, present in a condensed manner the progress, amount
and value of the commerce of this great work.
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NEW YORK STATE CANALS.
361
STATEMENT of the Receipts and Payments on account of all the State Canals from the
commencement of the works to the 30th September, 1859.
Receipts-
Payments-
Loans (and revenue certificates of
Discounts on loans
$390,061
1851 2)
$50,449,552
Principal of loans
26,214,645
Premiums on loans, etc
2,521,443
Premium on purchase and invest-
Temporary loans
2,851,467
ment of stock
366,777
Gross tolls
70,565,737
Temporary loans
2,643,967
Tax
3,827,191
Interest on loans
27,413,493
Vendue duty
3,592,039
Canal commissioners-construction
55,106,814
Salt duty
2,055,458
Seneca Lake Navigation company.
53,872
Steamboat tax
73,509
B. R. canal for Erie canal feeder.
290,098
Sales of land
320,518
General fund
4,137.603
Int on investments and deposits
3,484,594
General fund debt
3,884,417
Rent of surplus water
76,024
Deficiencies of lateral canals and
General fund for deficiencies
1,386,499
Oneida River improvement
4,540,971
E. and C. canal for B. R. canal and
Oneida Lake canal and feeder
50,000
Erie canal feeder
290,098
Repairs of canals-contractors
571,364
E. and C. canals for deficiencies.
4,540,971
"
"
-superintendents.
16,360,716
Miscellaneous
1,213,083
Collectors and inspectors
1,526,638
Weigh masters
182,928
Miscellaneous
2,194,716
Balance on hand 30th Sept., 1859
1,319,104
Total
$146,858,123
Total
$146,858,123
STATEMENT showing the amount of tolls (including rents from surplus water) ; the cost
and rate of collection ; the cost and rate of collection and repairs, and the aggregate
tonnage on all the canals, from 1826, yearly.
Fiscal
Gross tolls
-Collection
Collection & reps
Tonnage of
Tons carried
years.
collected.
Amount
Rate.
Amount.
Rate.
all canala.
one mile.
1826
$844,508
$
$
$531,676
$62.95
1827
881,134
27,087
3.06
494,701
56.18
1828
831,002
31,095
373
393,518
47.41
1829
817,919
32,171
3.91
357,588
43.76
1830
1,045,163
29,369
2.77
292,674
28.03
1831 (9 mos.)
751,269
27,686
372
224,420
29.82
1832
1,112,918
30,191
2.60
428,965
38.54
1833
1,388,381
32,477
2.30
487,797
35.15
1834
1,387,715
33,327
2.37
534,898
38.54
1835
1,484,596
35,391
2.35
510,525
34.41
1536
1,598,455
35,276
2.19
467,599
29.22
1,310,807
1837
1,325,610
41,477
3.09
608,994
45.88
1,171,296
1838
1,465,275
36,467
2.45
622,027
42 42
1,333,011
1839
1,665,789
53,330
3.20
504,758
30 45
1,435,713
1840
1,606,827
53,691
3.36
575,021
35.80
1,416,046
1841
1,989,687
53,247
2.66
514,518
25.84
1,521 661
1842
1,797,464
52,363
2.89
642,584
35.72
1,236,931
1843
1,953,829
47,065
2.40
531,146
27.18
1,513,439
1844
2,388,457
46,260
1.92
636,858
26.63
1,816,586
1845
2,375,533
47,424
1.98
738,106
31.07
1,977,565
1846
2,798,850
49,312
1.75
639,353
2283
2,268,662
1847
3,463,710
50,760
1.47
643,766
18.53
2,869,810
1848
3,156,968
57,768
1.83
855,851
27.11
2,796,230
1849
3,378,920
56,707
1.68
685,804
20.30
2,894,732
1850
3,393,081
54,986
1.62
835,966
24 64
3,076,617
1831
3,703,999
75,358
2.03
907,730
24 50
3,582,733
1852
3,174,857
69,544
2.19
1,049,046
33 04
3,863,441
1853
3,162,190
70,460
2.22
1,098,377
34.73
4,247,853
1854
2,982,115
75,543
2.53
1,237,866
4151
4,165,862
1855
2,632,906
79,846
303
989,792
37.59
4,022,617
1856
2,721,741
82,624
3.04
786,633
28.90
4,116,082
592,009,603
1857
2,531,804
83,047
328
970,453
38.33
3,344,061
484,750,864
1858
2,047,391
88,376
431
1,078,879
52.69
3,665 192
564,842,095
1859
1,814,362
69,583
3.84
897,879
49.49
3,781,684
544,309,072
Total
$69,564,425
$1,709,308
$
$22.675,768
8
63,436,076
2,185,912,634
Average
2,046,013
51,747
2.66
666,934
3521
2,643,169
546,478,158
64
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NEW YORK STATE CANALS.
PROGRESS OF THE CANAL DEBT.
Debt at close
Debt at close
Year.
Borrowed
Redeemed.
of year.
Year.
Borrowed.
Redeemed.
of year.
1817
$200,000
8
$200,000
1839
1,545,000
67,300
10,785,820
1818
200,000
400,000
1840
3,478,554
137,726
14,126,643
1819
400,000
800,000
1841
2,213,498
33,771
16,306,374
1820
693,500
1,493,000
1842
3,411,618
143,600
19,574,392
1821
1,400,000
2,893,500
1643
1,002,700
184,768
20,392,324
1822
1,350,000
4,243,500
1844
655,000
333,419
20,713,906
1823
1,656,000
5,899,500
1845
245,000
1,268,885
19,690,021
1824
1,568,271
7,467,771
1846
300,000
2,961,781
17,028,240
1825
270,000
7,737,771
1847
284,491
16,743,750
1826
377,000
270,000
7,844,771
1848
1,314,819
1,344,919
16,713,650
1827
94,615
7,750,156
1849
1,889,025
2,097,329
16,505,346
1828
210,000
20,000
7,940.156
1850
192,585
482.787
16,215,145
1829
87,000
321,143
7,706,013
1851
1,000,000
573,610
16,641,535
1830
150,000
30,977
7,825,036
1852
700,000
340,265
17,001,269
1831 (9 mo)
240,263
9,653
8,055,646
1853
17,001,269
1832
8,055,646
1854
2,250,000
479,025
18,772,244
1833
95,737
1,478,377
6,673,006
1855
3,750,000
2,240,911
20,281,333
1834
950,000
588,007
7,035,000
1856
6,750,000
4,489,266
22,542,067
1835
706,943
6,328,056
1857
2,750,000
102,285
25,189,782
1836
650,000
651,249
6,326,807
1858
2,200,000
2,929,767
24,460.014
1837
810,920
971,645
6,166,082
1859
152,170
24,307,844
1838
3,493,062
351,023
9,308,120
Of the above debt of $24,307,844, there is chargeable to the following funds:
The old debt
$11,665,099
The new debt
12,000,000
The miscellaneous debt
642,585
Debt not paying interest
160
TOTAL MOVEMENT OF TONNAGE ON ALL THE CANALS FROM 1836 TO 1859.
Products of
Manufac-
Merchan-
Other
Year.
The Forest. Agriculture.
tures.
dise.
articles.
Total.
1836
755,252
225,747
88,810
127,895
113.103
1,310,807
1837
618,741
208,043
81,735
94,777
168,000
1.171,296
1838
665,089
255,227
101,526
124,290
186,879
1,333,011
1839
667,581
266,052
111,968
132,286
257,826
1,435,713
1840
587,647
393,780
100,367
112,021
223.231
1,417,046
1841
645,548
391,905
127,896
141,054
215,258
1,521,661
1842
504,597
401,276
96,968
101,446
130,644
1,236,931
1843
687,184
455,797
124,277
119,209
126,972
1,513,439
1844
864,373
509,387
144,245
141,930
156,651
1,816,586
1845
881,774
555,160
160,638
151,450
228,543
1,977,565
1846
916,976
814,258
149,006
169,799
218,623
2,268,662
1847
1,087,714
1,092,946
176,448
224,890
287,812
2,869,810
1848
1,086,880
913,824
202,781
261,458
331,287
2,796,230
1849
1,104,940
1,020,259
203,990
255,455
310.038
2,894,732
1850
1,261,991
965,619
200,218
269,370
379,419
3,076,617
1851
1,393,698
1,125,264
222 529
365,404
475,838
3,582,733
1852
1,586,080
1,213,357
207,955
420,295
435,754
3,863,441
1853
1,821,525
1,150,923
230,036
458,327
587,041
4,247,852
1854
1,768,745
992,839
258,021
406,022
740,235
4,165,862
1855
1,534,934
1,047,344
281,873
374,402
784,064
4,022,617
1856
1,478,674
1,192,673
284,901
370,758
789 076
4,116,082
1857
1,364,002
767,370
232,803
222,954
756,932
3,344,061
1858
1,232,968
1,279,691
295,903
188,441
667,989
3,665,192
1859
1,542,035
816,784
299,421
211,182
912,262
3,781,684
Total for 24 years
26,058,948
18,055,725
4,386,315
5,445,115
9,483,527
63,429,630
Per cent of each class
...
41.08
28.46
6.93
8.58
14.95
100.
Average, 1836 to '43-8 ys.
641,455
324,728
104,444
119,122
177,739
1,367,488
Average, 1844 to '51-8 ys. 1,074,793
874,590
182,482
229,969
298,533
2,660,367
Average, 1852 to '59-8 ys. 1,541,120
1,057,648
261,364
331,548
709,169
3,900,849
Digitized by
Google
NEW YORK STATE CANALS.
363
VALUE OF THE TONNAGE ON ALL THE CANALS FROM 1836 TO 1859.
Product of
Manufac-
Merchan-
Other
Year.
The Forest Agriculture.
tures.
dize.
articles.
Total.
1836
$7,282,438
$18,619,834
$7,380,576
$31,973,864
$2,377,631
$67,634,343
1837
6,146,716
16,201,331
6,390,485
23,935,990
3,134,766
55,809,288
1838
6,338,063
19,390,714
5,915,856
31,594,692
2,507,234
65,746,559
1839
7,762,553
17,056,911
5,989,576
39,493,764
3,096,960
73,399,764
1840
4,609,035
18,644,481
4,719,054
35,636,843
2,794,379
66,403,892
1841
11,841,103
21,901,713
5,422,615
50,134,320
2,903,178
92,202,929
1842
5,957,219
16,987,843
4,435,289
30,042,153
2,594.104
60,016,608
1843
6,653,080
20.588,118
4,925,545
40,651,798
3,458,368
76,276,909
1844
7,422,737
23,379,643
6,151,806
49,224,099
4,742,867
90,921,152
1845
6,472,237
29,479,488
6,994,932
52,542,336
5,140,866
100,629,859
1846
6,422,409
35,820,586
7,015,311
62,004,488
4,349,315
115,612,109
1847
7,546,063
55,757,166
8,072,059
74,753.638
5,434,502
151,563,428
1848
7,219,350
42,850,086
7,433,957
76,945,463
5,637,301
140,086,157
1849
8,671,057
46,408,092
7,183,930
77,094,282
5,374,924
144,732,285
1850
15,117,661
46,152,958
7,933,108
61,135,199
6,059,003
156,397,929
1851
12,549,754
43,277,458
8,155,575
88,531,320
7,367,694
159,881,801
1852
11,526,437
49,437,555
6,294,120
122,624,170
6,721,236
196,603,517
1853
14,001,506
57,482,815
8.091,100
118,317,856
9,296,293
207,179,570
1854
14,384,785
51,980,864
9,796,420
123,167,863
10,954,380
210,284,312
1855
10,545,615
58,222,314
10,467,559
113,572,523
11,582,136
204,390,147
1856
10,211,383
51,030,453
10,308,419
135,691,816
11,084,991
218,327,062
1857
9,827,410
30,955,369
9,330,067
74,633,905
12,250,267
136,997,018
1858
8,963,443
50,142,318
9,352,955
61,236,319
8,873,809
138,568,844
1859
10,798,769
34,044,601
8,757,059
65,072,972
13,497,357
132,160,758
Total for 24 years
218,270,822
855,812,711
176,617,373
1,660,011,773
151,213,561
3,061,926,240
Per cent. of each class
7.12
27.95
5.77
54.22
4.94
100
Aver. 1836 to '43-8 ys.
7,073,776
18,673,868
5,647,374
35,432,941
2,858,328
69,686,287
Aver. 1844 to '51-8 ys.
8,927,658
40,390,684
7,367,585
70,278,853
5,513,309
132,478,090
Aver. 1852 to '59-8 ys. 11,282,418
47,912,036
9,049,712
101,789,678
10,530,059
180,563,903
TOLLS PAID ON TONNAGE, AND ON BOATS AND PASSENGERS, 1837-59.
Boats and
Products of
Manufac-
Merchan-
Other
Year.
pass'gers. The Forest Agriculture. tures.
dize.
articles.
Total.
1837
$195,508
$211,118
$370,041
$75,507
$380,826
$56,430
$1,289,430
1838
210,457
229,998
468,495
74,941
526,911
78,555
1,589,357
1839
181,323
253,710
479,534
81,251
535,486
83,662
1,641,966
1840
185,022
197,904
808,623
75,765
427,966
80,467
1,775,747
1841
178,819
313,444
785,943
95,595
558,003
102,078
2,034,882
1842
165,515
211,979
805,376
70,611
393,875
101,840
1,749,196
1843
156,004
290,755
922,710
93,231
502,617
116,273
2,081,590
1844
191,878
363,547
1,009,773
123,061
585,147
172,968
2,446,374
1845
295,456
313,613
1,088,671
111,236
625,900
211,335
2.546,181
1846
223,669
354,888
1,439,793
81,288
546,227
110,241
2,756,106
1847
278,022
358,235
2,031,748
94,648
670,979
201,749
2,635,381
1848
240,341
367,494
1,602,995
112,355
779,420
149,607
3,252,212
1849
234,311
408,566
1,608,441
101,638
769,913
145,357
3,268,226
1850
240,493
512,066
1,493,639
99,116
756,877
172,705
3,273,896
1851
253,735
493,064
1,410,129
126,051
877,438
169,310
3,329,727
1852
251,859
455,123
1,491,840
115,334
674,881
129,207
3,118,244
1853
249,021
571,289
1,394,070
124.321
719,762
146.255
3,204,718
1854
226,128
519,466
1,080,409
123,425
638,039
186,099
2,773,566
1855
194,657
489,666
1,152,829
133,935
660,105
173,885
2,805,077
1856
193,997
399,655
1,293,807
120,467
585,801
154,391
2,748,203
1857
148,190
478,852
804,177
100,971
342,410
171,041
2,045,641
1858
158,478
479,567
1,065,920
103,398
159,439
143,943
2,110,754
1869
141,154
627,238
574,855
87,589
112,542
180,567
1,723,945
Total for 23 years
4,695,007
9,001,246
25,182,818
2,325,729
12,830,654
3,237,965
57,273,419
Per cent of each class
8.20
15.72
43.95
4.06
2242
5.65
100.
Aver. 1837 to '43-7 ys. 181,950
244,129
662,960
80,986
475,098
88,472
1,733,595
Aver. 1844 to '50-7 ys. 229.163
382,229
1,467,723
103,735
676,352
166,280
3,025,482
Aver. 1851 to '59-9 ys. 201,913
501,546
1,140,893
115,055
530,056
161,633
2,651,098
Digitized by
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STATEMENT, showing the total number of tons of Merchandize transported on all the New York Canals from 1836 to the present time, and the
Value of the Same ; the Tulls received ; the total number of Tons arriving at Tide-Water since 1834, and the Value of the Same; the total
364
number of Tons leaving Tide-Water since 1835, and the Value of the Same ; the number of Tons of Wheat and Flour arriving at Tide-
Water since 1835, and the Value of the Same ; the number of Tons of Produce arriving at Tide-Water from the Western States, and from
the State of New York, since 1836, and the Value of the Same; the number of Tons of Merchandize arriving at Water States since
1836, by way of the Erie Canal, and the Cost of Transportation on the Canals since 1834.
Tons of
Tons
from
Tons
from
Total tons
No. of tons
Value
Tons
Value
Tons going
Value
Wheat &
Value
W'rn States State of N Y
coming to
Year. moved on
of
Tolls
arriving at
of
from
of
Flour
of
coming to coming to
tide-water
all the
same.
received.
tide-water.
same.
tide-water.
same.
ar'ving at
same.
tide-water
tide-water
by
Canals.
byErie Can. by E. Canal. Erie Canal.
Cost tra'
$16 oton mdze,
Albany to
40 Bufalo.
Do. Bufo
to
Albany.
tide-water
1834.
553,596
$13,405,022
$5,719,795
$7
68
1835.
753,191
20,525,446
510,997
128,552
7,395,939
16 00
6 29
1836.
1,310,807
$67,634,343
$1,614,342
696,374
26,932,470
549,564
124,982
9,796,540
54,219
364,906
419,125
21 00
7 !3
1837.
1,171,296
55,809,288
1,292,623
611,781
21,822,345
408,751
$25,784,147
116,491
9,640,156
56,255
331,251
387,506
18 60
7 50
1838-
1,333,011
65,746,559
1,590,911
640,481
23,038,510
539,703
33,062,858
133,080
9,883,586
83,233
336,016
419,249
17
80
6 76
1839.
1,435,713
73,399,764
1,616,382
602,128
20,163,199
549,587
40,094,302
124,683
7,217,841
121,671
264,596
386,267
17
80
6 94
1840.
1,415,046
66,303,892
1,775,747
669,012
23,213,573
452,510
36,398,039
244,862
10,362,862
158,148
309,167
467,315
16 60
7 50
1841.
1,521,661
92,202,929
2,034,882
774,334
27,225,322
609,927
56,798,447
201,360
10,165,355
224,176
308,344
532,520
12 20
6 57
1842- 1,236,931
60,016,608
1,749,196
666,626
22,751,013
453,565
32,314,998
198,231
9,284,778
221,477
258,672
480,149
13 20
6 02
1843.
1,513,439
76,276,909
2,081,590
836,861
28,453,408
566,142
42,258,488
248,786
10,253,454
256,376
378,969
635,345
11 20
5 56
1844-
1,816,586
90,921,152
2,446,374
1,019,094
34,183,167
682,068
53,142,403
277,863
11,211,677
308,025
491,791
799,816
13 00
5 56
1845. 1,985,011
100,553,245
2,646,181
1,204,943
45,452,321
727,582
55,453,998
320,463
15,962,950
304,551
655,039
959,590
9 60
6 57
1846-
2,268,662
115,612,109
2,756,106
1,362,319
51,105,256
641,929
64,628,474
419,366
18,836,412
506,830
600,662
1,107,270
8 00
5 92
1847. 2,869,810
151,563,428
3,635,381
1,744,283
73,092,414
837,943
77,878,766
551,205
32,890,938
812,840
618,412
1,431,252
7 80
7 13
NEW YORK-CANALS.
1848-
2,796,230
140,086,157
3,252,212
1,447,905
50,883,907
881,402
77,477,781
431,641
21,148,421
650,154
534,183
1,184,337
7 80
5 37
1849.
2,894,732
144,732,285
3,268,226
1,579,946
52,375,521
905,137
78,481,941
434,444
19,308,595
768,659
498,068
1,266,724
7 60
5 18
1850- 3,076,617
156.397,929
3,373,899
2,033,863
55,474,637
913,291
74,826,999
461,781
20,218,188
773,858
598,001
1,371,859
7 20
5 48
1851.
3,582,733
159,981,801
3,229,727
1,977,151
53,927,508
1,051,213
80,739,899
457,624
16,487,652
966,993
541,684
1,508,677
6 20
4 71
1852-
3,863,441
196,603,517
3,118,244
2,234,822
66,893,102
799,650
121,087,312
576,772
22,564,256
1,151,978
492,721
1,644,699
5 20
4 90
1853.
4.247,852
207,17£,570
3,204,718
2,505,797
73,688,044
875,328
116,185,331
613,858
30,034,571
1,213,690
637,748
1,851,438
5 60
5 18
1854.
4,165,862
210,284,312
2,773,566
2,223,743
72,120,681
780,072
116,772,966
240,655
18,482,377
1,100,526
602,167
1,702,693
5
00
4 81
1855.
4,022,617
204,390,147
Digitized by
2,805,077
1,895,593
74,377,937
799,620
113,423,863
302,125
23,163,681
1,092,876
327,839
1,420,715
5 00
4 81
1856.
4,116,082
218,327,062
2,748,203
2,123,469
74,286,734
756,770
134,131,707
475,385
29,098,973
1,212,550
374,580
1,587,130
5
40
5
56
1857.
3,344,061
136,997,018
2,045,641
1,617,187
51,190,018
472,204
71,016,241
263,141
14,043,581
919,998
197,201
1,117,199
4 80
4
26
1858-
3,665,192
138,568,844
2,110,754
1,985,142
61,536,061
278,386
57,983,124
454,831
19,632,087
1,273,099
223,588
1,496,687
2 80
3 14
1859.
3,781,684
132,160,758
1,723,945
2,121,672
53,175,312
228,386
61,889,929
250,872
9,970,409
1,036,634
414,699
1,451,333
2 40
2 87
Google
63,436,076
3,051,749,626
58,893,927
35,881,313
1,171,292,937
16,301,727
1,621,852,012
8,187,501
412,805,074
15,268,816
10,360,304
25,629,120
NOTE-In the Cost of Transportation Tolls are included. In 1834 they averaged 86 57 per ton moved from Albany to Buffalo, leaving for freight $9 83.
In 1859, they were 70 cents, and 81 70 respectively. In the opposite direction the tolls averaged, in 1834, $3 28, leaving $4 40 for freight. In 1859, they
were $1 41 and $1 46 respectively. In the meantime the cargoes have increased, on the average, from 41 to 143 tons, since 1841.
NEW YORK-ERIE AND CHAMPLAIN CANALS.
365
ERIE AND CHAMPLAIN CANALS.
ERIE CANAL.
LENGTH OF CANAL-Albany to Buffalo
350.53 miles.
The Erie Canal, the main trunk of the New York system, extends from
Albany on the Hudson River, to Buffalo on Lake Erie, a distance by the
old route of 363.95 miles, and by the route of the enlarged canal 350.53 miles.
The surface of the water at Buffulo is 565 feet above the Hudson at Albany,
and the total rise and fall in the distance between the two places is 582
feet. To the Lower Mohawk aqueduct, 13 miles from Albany, the rise is
186.50 feet, by 18 locks. At Utica, 110 miles from Albany, the elevation
is 425 feet, reached by 46 locks. This level continues to Syracuse, 56
miles. Between the Utica and Montezuma levels, there is a difference in
iltitude of 34 feet, and a total rise and fall of 50.50 feet, overcome by 6 locks.
This is the only portion of the canal descending from east to west. From
the Montezuma level at Clyde to the Pulmyra level at Arcadia, 15 miles, the
rise is 54 feet, overcome by 7 locks. From the latter point to Rochester,
259 miles from Albany, the rise is 47 feet, reached by 1 locks. Here com-
mences the long level, 509 feet above the Hudson, and extending to Lockport,
a distance of 62 miles. At Lockport the level rises 56 feet, by 5 locks, the
canal here attaining its summit, which continues to Buffalo. The whole
number of locks between Albany and Buffulo is 71 : of these 66 lift towards
the west, and 5 towards the east.
At Albany and Buffalo there are ample provisions for the accommodation
of the commerce of the canals.
The lateral canals connect as follows :-The Champlain at Grand Junction,
7 miles north of Albany; the Chenango at Utica, 110 miles; the Black
River at Rome, 125 miles; the Oneida Lake at Higginsville, 136 miles the
Oswego at Syracuse, 166 miles; the Cayuga and Seneca at Montezuma, 199
miles; and the Genesee Valley at Rochester, 259 miles. The Black River,
Oneida Lake and Oswego enter the trunk canal from the north, and the
others from the south.
The canal is amply provided with water, conducted from reservoirs by
feeders, which, in the aggregate, are of considerable length, and in several
instances navigable. The principal supply is derived from Tonawanda Creek
(Lake Erie), Skaneateles Lake, the Black River, the Mohawk River, etc.
The Erie canal was commenced in 1817, and completed in 1825. In 1837
its enlargement was commenced, and is now nearly completed. Its width at
the surface is 70 feet, and its depth 7 feet its locks double, and in dimension
110 by 18 feet, allowing the passage of boats of 225 tons burthen.
CHAMPLAIN CANAL.
LENGTH-Whitehall to Grand Junction
64.00 miles.
Waterford Side-Cut
2.75 "
Glenn's Falls Feeder-Upper Hudson River to Junction
7.00 "
The Champlain Canal extends from Lake Champlain to Grand Junction, 64
miles, and through the Erie Canal thence to Albany, 7 miles further, with a
side-cut to the Hudson River, at Waterford. The latter gives an outlet to
the navigation above the State dam. The Glenn's Falls Feeder brings the
Digitized by
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366
NEW YORK-ERIE AND CHAMPLAIN CANALS.
water of the upper Hudson to the canal at the summit level, and is navigable,
including the pond above it, a distance of 12 miles. The height of the head
of the feeder, above its outlet at the canal, is 132 feet, overcome by 13 locks.
The Waterford Side-Cut leaves the canal above lock No. 3, and descends to
the Hudson, 33 feet, by three locks.
The summit level of the main canal, which extends from Fort Ann to Fort
Edwards, has an altitude above tide of 1494 feet: the descent from the
former place to Lake Champlain is 541 feet, overcome by 7 locks, and from
the latter to Grand Junction 1254 feet, overcome by 13 locks. The Erie
canal at Grand Junction is 241 feet above tide-level at Albany
This canal is second in importance only to the Erie canal. It completes
the waterway between the Atlantic seaboard and the navigable St. Lawrence.
The work of construction was commenced in 1816, and the canal opened to
business in 1823. Its enlargement, which was begun in 1851, is now nearly
completed.
STATEMENT of the Receipts and Payments on account of ehe Erie and Champlain Canals,
and of the Enlargement of the Erie Canal, from the commencement of the works to the
30th September, 1859.
Receipts-
Payments-
Loans-E. and C. canals
$8,271,831
Redemption of E. and C. loans
$8,079,085
"
-Enlargement
11,828,000
"
of enlargement loans
10,226,132
"
-Deficiency
10,203,844
"
of deficiency loans
1,314,819
" -Revenue certificates
1,500,000
"
of temporary loans
1,700,000
" -Enlargement & completion.
9,000,000
Premium on purchase and invest-
Premiums on loans
$2,298,744
ment of stock
366,509
Discount on loans
290,508-
2,008,236
Interest on E. and C. loans
6,330,884
Temporary loans
1,907,500
"
on enlargement loans
7,943,535
Gross tolls
66,482,336
Canal commissioners-E.d C. canal
11,611,626
Tax
3,827,191
"
"
-Enlargement
27,828,012
Vendue duty
3,592,039
Canal commissioners-
Salt duty
2,055,458
and Ellicott Creeks.
97,065
Steamboat tax
73,510
Sinking fund for canal debts
8,229,989
Sales of land
107,430
"
"
for general fund debts
3,884,417
Int on investments and deposits
3,207,322
Black River canal for Erie canal
Rent of surplus water
69,654
feeder
290,098
Surplus tolls from lateral canals
1,027,238
Genesee Valley, Black River and
Miscellaneous.
1,253,034
Oswego canals, and Oneida River
improvement
5,794.990
General fund
4,137,603
Deficiencies of Interal canals, etc.
4,540,971
Redemption of stocks of other canals
2,895,149
Superintendents of repairs
12,445,829
Collectors and inspectors
1,206,435
Weigh masters
182,928
Miscellaneous.
5,697,780
Balance on hand 30th Sept., 1859
1,211,745
Total
$126,014,625
Total
$126,014,625
SEPARATE STATEMENT of the Receipts and Payments on account of the Enlargement of
the Erie Canal, from the commencement of the work in 1835, to the 30th September, 1859.
Receipts-
Payments-
Loans
$10,328,000
Loans
$9,726,132
Discounts $225,519
Temporary loans
1,400,000
Premiums
44,924-
180,595-$10,147,405
Interest on loans
7,943,536
Temporary loans
1,400,000
Interest on canal revenue certificates
336,540
Surplus tolls of Erie canal
6,250,126
Canal commissioners (construction).
27,828,212
Fund for completion of the canal
15,072,613
Premium of durchase and investment
Constitutional sinking fund
13,504,705
of stock
3,829
Interest on deposits and investments.
195,322
Miscellaneous
1,055,878
Miscellaneous.
915,013
Balance on hand 30th Sept., 1959
191,257
Total
$47,485,185
Total
$47,485,185
Digitized by Google
NEW YORK-ERIE AND CHAMPLAIN CANALS.
367
COST, MILEAGE, TONNAGE, REVENUES AND EXPENSES.
Cost of
Milenge-
Tonnage."
Revenues Repairs &
Years.
works.
Erie.
Cham. Total.
Erie. Champlain.
Total.
from Tolls. keepingt
1820
$1,923.267
94
67
161
s
$
1821
3,043,767
94
67
161
2,200
1822
4,998,779
116
67
183
44,487
1823
6,782,881
160
67
227
119,988
1824
8,058.425
280
67
347
289,320
1825
9,048,963
333
67
400
521,344
1826
9,452,219
364
67
431
841,687
124,652
1827
9,605,771
364
67
431
880,299
310,741
1828
9,698,082
364
67
431
827,477
246,904
1829
9,746,780
364
67
431
797,797
265,732
1st 10 yrs
$72,358,934
2,533
670
3,203
4,324,599
948,029
Average
7,235,893
253
67
320
480,511
237,007
1830
$9,765,036
364
67
431
1,017,182
237,749
1831
9,776,414
364
67
431
728,236
181,551
1832
9,809,305
364
67
431
1,083,208
361,104
1833
9,844,569
364
67
431
1,349,499
360,413
1834
9,859,575
364
67
431
469,539
198,928
668,467
1,338,318
453,190
1835
9,911,684
364
67
431
648 054
234,047
882.101
1,430,546
433,979
1836
9,977,944
364
67
431
598,835
241.308
830,143
1,539,313
330,633
1837
10.672,047
364
67
431
667,151
261,659
928,810
1,273,251
397,299
1838
11,920,445
364
67
431
744,848
266,553
1,011,401
1,400,859
396,348
1839
14,198,454
364
67
431
845,007
263,552
1,108,559
1,576.347
344,482
2d 10 yrs.
105,035,473
3,640
670
4,310
3,963,434
1,466,047
5,429,481
12,736,759
3,496,748
Average
10,503,547
364
67
431
660,572
244,341
904,913
1,273,675
349,674
1840
$17,450,818
364
67
431
829,960
245,229
1,075,199
1,534,457
342,374
1841
20,006,805
364
67
431
906,442
276,418
1,182,860
1,892,088
316,916
1842
21.626,373
364
67
431
712,310
230,844
943,154
1,705,312
345,955
1843
22,203,922
364
67
431
819,216
262,212
1,081,428
1,863,327
332,503
1844
22,693,227
364
67
431
945,944
269,546
1,215,490
2,258,638
390,785
1845
22,952,313
364
67
431
1,038,700
266,922
1,305,622
2,214,558
445,901
1846
23,050,280
364
67
431
1,264.408
280,490
1,544,898
2,606,611
406,980
1847
23,134.156
364
67
431
1,661,575
313,124
1,974,699
3,257,549
417,604
1848
23,798.577
364
67
431
1,599,965
293,889
1,893,854
2,883,339
561,565
1849
24,808,486
364
67
431
1,622,444
321,345
1,943,789
3,062,717
447,195
3d 10 yrs.
221,766,957
3,640
670
4,310
11,400,964
2,760,019
14,160,983
23,278,596
4,007,778
Average
22,176,695
364
67
431
1,140,096
276,002
1,416,098
2,327,859
400,777
1850
$25,183,787
364
67
431
1.635,089
460,219
2,095,308
3,055,078
471,010
1851
27,210,030
364
67
431
1,955,265
513,793
2,469,058
3,308,579
543,733
1852
28,181,241
364
67
431
2,129,334
531,001
2,660,335
2,915,067
608,600
1853
28,786,510
364
67
431
2,196,308
608,354
2.804,662
2,928,663
622,131
1854
29,433,449
364
67
431
2,224,008
602,913
2,826,921
2,754,376
763,602
1855
31,683,731
358
67
425
2,202,463
537,108
2,739,571
2,436,519
602,914
1856
35,045,495
358
67
425
3,107,678
611,610
2,719,288
2,498,683
450,730
1857
37,441,765
351
67
418
1,566,624
547,236
2,113,860
2,310,536
471,855
1858
38,914,461
351
67
418
1,797,004
608,918
2,405,922
1.882,014
436,419
1859
39,439,638
351
67
418
1,753,954
751,046
2,505,000
1,652,861
410,393
4th 10 yrs.
322,320,107
3,589
670
4,259
19,567,727
5,772,198
25,339,925
25,742,376
5,381,367
Average
32,232,010
359
67
426
1,956,772
577,219
2,533,992
2,574,237
538,139
Total
721,481,471
13,402
2,680
16,082
34,932,125
9,998,264 44,930,389
66,082,330
13,833,942
Average
18,037,037
335
67
402
1,343,543
384,548
1,728,091
1,694,413
406,881
# No records of tonnage are accessible before 1834, the accounts having been kept by bulk,
count, etc.
+ Before 1826 these expenses were paid by the Commissioners and have gone into the cost of
the works.
Digitized by
Google
368
NEW YORK-BLACK RIVER IMPROVEMENT.
BLACK RIVER CANAL.
LENGTH-Rome to the High Falls of Black River
35.62 miles.
Summit Feeder 10.48 miles, and Reservoirs 2 miles
12.48
"
Delta Feeder (not completed)
1.50
"
The Black River Canal was authorized in 1831, and completed in 1850.
The summit level of this work is 1,120 feet above tide-water 693 feet
above Rome, and 386 feet above the Black River at High Falls. The ascent
from Rome to the summit, 23 miles, is made by 70 locks, and the descent
from the summit to Black River, 13 miles, by 39 locks.
The canal is fed at its summit from the Black river and Alder Creek. The
Delta Feeder, on the Mohawk, will come in on the ninth level ascending from
Rome: this is not yet completed.
Besides its functions as a channel of navigation, the Black River Canal
acts as an important feeder to the Erie Canal.
STATEMENT of Receipts and Payments on account of the Black River Canal, from the
commencement of the work to the 30th September, 1859.
Receipts-
Payments-
Loans
$1,564,000
Principal of loans.
$1,432,695
Discount
$26,706
Temporary loans
368,967
Premiums
21,630-
5,076-$1,553,924
Interest on loans
1,069,157
Temporary loans
368,967
Canal commissioners
2,918,801
Interest on deposits
38,014
Superintendents
173,164
From sinking fund
1,967,184
Collectors
5,681
From other funds
1,437,233
Miscellaneous
112,214
Tolls
50,445
Balance 30th September, 1859
41,562
Miscellaneous
27,355
Deficiencies paid by general fund
58,712
"
paid by E. and C. canals.
653,153
Total
$6,095,535
Total
$6,095,535
COST, MILEAGE, REVENUE
AND
EXPENSES.
Cost of
Mile-
Ton-
Reve-
Ex-
Cost of
Mile-
Ton-
Reve-
Ex-
Year.
canal.
age.
nage.
nues.
penses.
Year.
canal.
age.
nage.
nues.
penses.
1850.
$2,321,908
36
$1,116
$10,014
1855.
$2,705,376
36
51,347
$6,808
$36,424
1851.
2,417,498
36
25,320
3,835
26,071
1856.
2,798,813
36
68,126
5,594
11,620
1852.
2,535,854
36
36,497
4,166
29,934
1857.
2,860,478
36
69,135
6,575
2,397
1853.
2,566,811
36
41,924
5,546
24,970
1858.
2,901,775
36
62,352
4,989
3,887
1854.
2,599,837
36
55,525
5.843
31,054
1859.
2,918.801
36
75,946
5,963
2,471
5
yrs
$12,441,908
180
159,266
$20,506
$122,043
5 yrs $14,185,243
180
326,906
$29,929
$56,799
Aver.
2,488,381
36
31,853
4,101
24,408
I
Aver.
2,837,048
36
65,381
5,986
11,360
BLACK RIVER IMPROVEMENT.
LENGTH-High Falls to Carthage
42.50 miles.
Reservoirs and Feeders
12.95
"
The Black Ricer Improvement was authorized in 1836, the law requiring that
the river be so improved as to make the same navigable for steamboats
drawing four feet of water, from the High Falls to Carthage.
In 1834 two methods were proposed for perfecting the improvement. The
first plan contemplated the construction of dams at several points across the
river, of sufficient height to obtain the navigable depth required, and a lock
in each to transmit boats from one level to another. The second plan pro-
Digitized by
Google
NEW YORK-CHENANGO CANAL.
369
posed a system of jetty or wing dams and piers, to contract and govern the
stream, trusting to the force of the water to keep the channel clear when
once made.
In 1854 and 1855 contracts were entered into for the construction of the
latter, and the work was prosecuted until the 3d September, 1857, when,
upon the recommendation of the State Engineer, the plan was abandoned
and the contracts cancelled. On the 2d June, 1859, the plan of a dam and
lock at Otter Creek, 12 miles below the High Falls, was adopted, and on the
18th of the same month the work was put under contract, and for the
remaining portions of the improvement, a contract was concluded on the
10th October following, binding the contractors to furnish five feet depth of
water, to dredge a channel 60 feet wide, and to maintain during each season
of navigation the above depth of water and other dimensions of channel;
also to keep in repair all structures located on the improvement, etc. The
reservoirs, authorized by an act of 1859, have also been placed under contract.
The capacity of these are as follows:
Woodhull Reservoir
1,236 acres-780,943,680 cubic feet.
North Branch Reservoir
423 " -619.868,800 " "
South Branch Reservoir
518 " -421,190,000
"
"
-total 1,822,002,480 cubic feet, and which will supply 11,000 cubic feet per
minute for 115 days.
The work is expected to be completed in season for navigation in 1861.
CHENANGO CANAL.
LENGTH-Utica to Binghamton
97.17 miles.
The Chenango Canal was authorized by an act passed in February, 1833,
and extends from the Erie Canal at Utica, to the Susquehanna River at
Binghamton. The work of construction was commenced in 1833, and com-
pleted in 1837.
The summit level at Boucksville is 1,126 feet above tide-water, 703 feet
above the Erie Canal at Utica, and 3121 feet above the Susquehanna at
Binghamton. The ascent from Utica is overcome by 76 locks, and the
descent from the summit to Binghamton by 38 locks. About two-thirds the
total length is south from the summit.
Water is supplied to the canal principally by the feeders from Madison
Brook, Woodman's Pond, Leland's Pond, Bradley's Brook, Hatch's Lake
and Eaton Brook Reservoirs. The aggregate length of the feeders is about
171 miles.
STATEMENT of the Receipts and Payments on account of the Chenango Canal, from the
commencement of the work to the 30th September, 1859:
Receipts-
Payments-
Proceeds of loans
$2,420,000
Redemption of loans
$2,408,638
Premiums on loans
$93,490
Interest on loans
1,262,016
Discount on loans
975-
92,515
Surplus toll to E. & C. Canals
9,882
Erie and Champlain tolls to redeem
Canal Commissioners
2,427,918
stock
2,362,536
Superintendents of repairs
502,361
Appropriations from sinking fund
68,499
Collectors and inspectors
32,585
Gross tolls received
441,607
Miscellaneous
112,390
Miscellaneous
80,226
Deficiencies paid from general fund
479,561
"
paid by E. & C. Canals
810,848
Total
$6,755,791
Total
$6,755,791
47
Digitized by Google
370
NEW YORK-ONEIDA LAKE CANAL.
Cost, MILEAGE, TONNAGE, REVENUES AND EXPENSES.
Cost of
Mile-
Ton-
Reve-
Ex-
Cost of
Mile-
Ton-
Reve-
Ex-
Year.
canal.
age.
nage.
nues.
penses.
Year. canal.
age.
nage.
nues.
penses.
1838.$2,329,619
97.17
14,778
$16,751
$21,346
1849.
$2,408,293
97.17
36,557
$28,028
$29,214
1839. 2,377,078
97.17
16,928
18.050
18,566
1850. 2,413,345
97.17
41,892
20,344
26,309
1840. 2,389,311
97.17
16,848
14,023
16,335
1851. 2,414,409
97 17
40,307
19,732
32,536
1841. 2,394,660
97.17
23,356
16,893
18,569
1852.
2,420,521
97.17
44,939
16,892
36,046
1842.
2,399,735
97.17
17,177
15,330
20,288
1853.
2,420,521
97.17
76,538
18,108
39,153
1843.
2,400,403
97.17
19,026
14,669
17,312
1854. 2,420,521
97.17
77,142
19,469
50,879
1844.
2,404,345
97.17
31,472
20,933
16,933
1855. 2,423,616
97.17
89.390
20,302
45,807
1845. 2,404,499
97.17
38,305
23,921
19,482
1856. 2,425,206
97 17
105,502
18,635
12,025
1846.
2,404,651
97.17
41,112
25,579
19,159
1857. 2,425,366
97.17
96,722
22,969
4,199
1847.
2,407,355
97.17
44,051
25,620
19,630
1858. 2,425,982
97.17
72,526
15,305
25,766
1848.
2,407,475
97.17
35,207
28,092
21,889
1859.
2,427,918
97.17
89,691
17,802
4,834
11
ys.26,319,131
1,068.87
298,260
219,911
210,309
11
ys 26,625,698
1,068.87
771,206
217,646
306,76E
Aver.
2,392,648
97.17
27,114
19,992
19,119
Aver.
2,420,518
97.17
70,109
19,786 27,88E
The canal was opened in 1837, and there passed over it in that year 8,213 tons : tolls collected,
$4,082, and expenditures $18,864.
ONEIDA LAKE CANAL.
LENGTH-Higginsville to Oneida Lake
6 miles.
The Oneida Lake Canal leaves the Erie Canal at Higginsville and extends
6 miles to Oneida Lake. It was purchased by the State in 1841. The sur-
face of Oneida Lake is 369 feet above tide-water, and 58 feet lower than the
Erie Canal. The difference of level is overcome by 7 locks. The lake is 23
miles long, and empties into the Oswego River, through the Oneida River.
The latter, which is 20 miles long, and connects at its outlet with Oswego
Canal, is made navigable by 2 locks. The total navigation supplied by this
improvement is therefore about 50 miles.
STATEMENT of the Receipts and Payments on account of the Oneida Lake Canal, since its
purchase to the 30th September, 1859 :
Receipts-
Payments-
Loan
$50,000
Redemption of loan
$50,000
Appropriations from sinking fund
61,250
Purchase of canal and feeder
50,000
Gross tolls
64,499
Interest on loan
24,916
Miscellaneous
16
Superintendents
78,906
Deficiencies paid by the E. & C. Canals 66,567
Collectors
10,243
Surplus tolls to the E. and C. Canals
12,381
Miscellaneous
15,886
Total
$242,332
Total
$242,332
COST,
MILEAGE,
REVENUE,
AND
EXPENSES.
Cost
of
Mile-
Ton-
Reve-
Ex-
Cost of Mile- Ton-
Reve-
Ex-
Year.
work.
age.
nage.
nues.
penses.
Year.
work.
age.
nage.
nues.
penses.
1841
$50,000
6
22,150
$274
$2,448
1851
$50,000
6
45,049
$6,178
$4,315
1842
50,000
6
472
5 829
1852
50,000
6
43,969
7,795
6,053
1843
50,000
6
26,445
475
2,488
1853
50,000
6
43,351
10,292
6,583
1844
50,000
6
25,991
684
1,970
1854
50,000
6
34,532
9,802
12,789
1645
50,000
6
28,828
679
1,656
1855
50,000
6
27,116
7,341
7,292
1846
50,000
6
22,188
604
18,399
1856
50,000
6
18,485
8,639
1,126
1847
50,000
6
30,642
487
6,363
1857
50,000
6
19,343
4,849
863
1848
50,000
6
47,451
672
2,116
1858
50,000
6
19,675
1,235
763
1849
50,000
6
59,451
795
2,240
1859
50,000
6
19,536
701
601
1850
50,000
6
56,828
2,513
5,249
1860
50,000
6
10 years-
$600,000
60
319,974
$7,675
$48,757
10 years
$450,000
54
271,056
$56,822
$40,385
Average.
50,000
6
31,997
767
4,875
Average
50,000
6
30,117
6,313
4,487
Digitized by
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NEW YORK-BALDWINSVILLE CANAL.
371
OSWEGO CANAL.
LENGTH-Syracuse to Oswego
38.25 miles.
The Oswego Canal extends from the Erie Canal near Syracuse, passes along
the valley of the Oswego on the right bank of and nearly parallel to that
river to Lake Ontario, a distance of 384 miles. It is made up alternately of
seven river and ten canal portions-the former 18 miles in total length, and
the latter 17 miles, and section work connected with structures, 3₺ miles.
From the lake to the level of the Erie Canal, at Syracuse, the rise is
156.85 feet, which is overcome by 18 lift locks. Elevation above tide water-
Lake Ontario, 243 feet, and Syracuse, 399.85 feet. Besides the structures
above alluded to, there are 6 guard locks, 8 dams and 8 culverts, etc.
The work of construction was commenced in 1826, and completed in 1828,
at a cost of $496,011. The enlargement of the canal was commenced in
1850, and to the end of the fiscal year 1859, had cost $1,836,196. It will
require about $128,600 additional to complete the improvements as projected.
The total expenditure to date has been $2,385,098.
STATEMENT of the Receipts and Payments on account of the Oswego Canal, from the com-
mencement of the work to the 30th September, 1859.
Receipts.
Payments.
Proceeds of loans
$637,000
Loans repaid
$437,000
Premiums on loans
21,690
Surplus of E. and C. Canals repaid
129,530
Erie and Champlain tolls
521,304
Interest on loans
487,395
Tolls of Oswego Canal
1,628,060
Canal Commissioners (construction)
2,385,098
Proceeds from sales of land
213,088
Superintendents of repairs
1,224,665
Rents of surplus water
6,371
Collectors and Inspectors
107,425
Miscellaneous
1,550,581
Miscellaneous
364,251
Deficiencies paid by general fund
268,574
Balance on hand
111,776
:
paid by Erie and Cham-
plain funds
400,672
Total
$5,247,340
Total
85,247,340
COST, MILEAGE, REVENUE AND EXPENSES.
Cost of
Mile-
Re-
Ex-
Cost of
Mile-
Re-
Ex-
Year.
Works.
age.
Tonnage.
venues.
penses.
Year.
Works.
age.
Tonnage.
venues.
penses.
1828.
496,011
38.25
$2,058
8,418
1844.
$543,962
38.25
$326,607
$50,013
$30,185
1829.
539,331
38.25
9,072
14,129
1845.
543,962
38.25
340,481
53,831
49,655
1830.
542,641
38.25
12,430
14,810
1846.
543,962
38.25
351,511
60,101
57,537
1831.
542,641
38.25
11,465
10,727
1847.
543,962
38 25
441,096
70,839
42,667
1832.
542,641
38.25
16,611
14,482
1848.
543,962
38.25
490,147
71,565
77,784
1833.
542,641
38.25
22,965
13,252
1849.
548,902
38.25
557,637
86,140
37,326
1834.
543,641
38.25
22,174
14,531
1850.
631,409
38.25
583,346
94,524
33,230
1835.
542,641
38 25
26,267
14,792
1851.
691,955
38.25
676,321
104,366
35.689
1836.
542,641
38.25
29,360
53,211
1852.
767,608
38.25
684,191
82,951
45,441
1837.
542,806
38.25
161 353
24,557
57,242
1853.
934,334
38.25
761,276
88.840
44,050
1838.
543,962
38 25
222.697
22,961
56,001
1854.
1,242,422
38.25
611,533
81,266
72,982
1839.
543,962
38.25
221.014
33,594
27,713
1855. 1,569,729
38.25
654.399
64,954
70,343
1840.
543,962
38.25
219 627
29,167
39,186
1856. 1,827,958
38.25
657,381
96,136
65,540
1841-
543,962
38.25
135.689
34.630
29,235
1857.2,042,880
38.25
605,218
105,141
89,499
1842.
543,962
38.25
129,498
35,879
33,328
1858.2,224,445
38.25
688,960
83,940
104,234
1843.
543,962
38.25
240,571
31,914
25,508
1859.2,385,098
38.25
612,390
69,348
49,542
16
ys.
8,541,407
688 50
1,330,449
365,104
332,612
16
y.17,586,550
688.50
9,042,494
1,263,955
905,704
Aver.
533,838
38.25
190,064
22,819
20,788
Ave.
1,099,159
38.25
565,156
78,997
56,606
BALDWINSVILLE CANAL.
LENGTH-Baldwinsville to Seneca River
1 mile.
The Baldicinsville Canal is a short side-cut from the Seneca River to the
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NEW YORK-CAYUGA AND SENECA CANAL.
village of Baldwinsville, and does not require description. It Was intended
originally for the purpose of draining the adjacent marshes, and was
purchased by the State in 1853.
STATEMENT of the Receipts and Payments on account of the Baldwinsville Canal, from
the purchase of the work in 1853, to the 30th September, 1859.
Receipts-
Payments-
Tolls
$1,124
Surplus tolls to E. and C. canal
$313
Deficiencies paid by E. and C. canals
10,215
Superintendents
8,418
Collectors (offlce discontinued 1857)
1,523
Miscellaneous
1,085
Total
$11,339
Total
$11,339
ONEIDA RIVER IMPROVEMENT.
LENGTH-Oneida Lake to Oswego River
20 miles.
The Oneida River Improvement consists of two lift locks, one at the outlet
of Oneida Lake, and one about half way down the river, and an outlet lock
at the Oswego River. With these the navigation is secured from the Oswego
Canal to the Lake, which itself is 24 miles long, and is connected with the
Erie Canal by the Oneida Lake Canal-forming altogether a navigation of
50 miles.
STATEMENT of Receipts and Payments on account of the Oneida River Improvement, from
the commencement of the work to the 30th September, 1859.
Receipts-
Payments-
Loans
$69,276
Principal of Loans
9,433
Discount on Loans
2,260-
$67,026
Surplus Tolls to E. and Canal
161,402
From E. and C. Canal Tolls
20,000
Interest on Loans
61,114
From Sinking Fund
50,386
Canal Commissioners
91,794
Tolls
186,892
Superintendent of repairs
23,461
Miscellaneous
3,963
Miscellaneous.
1,105
Deficiencies paid by E. and C. Canals.
20,040
Total
$346,059
Total
$346,059
COST, MILEAGE, REVENUE AND EXPENSES.
Cost of
Mile-
Reve-
Ex-
Cost of
Mile-
Reve-
Ex-
Year.
canal.
age.
nues.
penses.
Year.
Works.
age.
nues.
penses.
1850
$79,209
20
$6,105
$395
1855
$87,566
20
24,005
$4,519
1851
86,122
20
18,409
2,250
1856
87,566
20
29,036
2,482
1952
86,122
20
24,541
1,765
1857
91,794
20
15,758
3,590
1853 86,122
20
31,275
1,707
1858
91,794
20
3,725
2,797
1854
86,122
20
31,993
2,876
1859
91,794
20
2,045
1,079
5 yrs $413,697
100
$112,373
$8,993
5 yrs
$450,514
100
$74,569
$14,467
Aver 82,739
20
22,475
1,798
Aver
90,103
20
14,914
2,892
CAYUGA AND SENECA CANAL.
LENGTH-Main Line: Montezuma to Geneva
20.71 miles.
Branch Line Foot of Cayuga Lake to East Cayuga
2.06
"
The Cayuga and Seneca Canal extends from the Erie Canal, at Montezuma,
to the Seneca Lake, with a branch from the foot of Cayuga Lake to East
Cayuga, and has a total length of 22.77 miles.
There are 10 locks on the main work, 8 of which are ascending from Seneca
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NEW YORK-CROCKED LAKE CANAL.
373
River toward Geneva, and overcome an elevation of 63.6 feet one ascend-
ing from Seneca River toward Montezuma, 10 feet; one at Montezuma
ascending 3 feet into the Erie Canal, and a 10 foot lock carries the branch
to East Cayuga. This is an important canal, chiefly in view of its connec-
tions, which form with it a line of interior navigation from Montezuma, south-
erly, to the Chesapeake Bay.
The work of construction was commenced in 1827, and the canal completed
in 1839. The enlargement, which was commenced in 1855, is now (1860)
three-fourths finished. The estimates for completion amount to $130,979.
STATEMENT of the Receipts and Payments on account of the Cayuga and Seneca Canal, from
the commencement of the work to the 30th September, 1859:
Receipts-
Payments-
Proceeds of loans
$237,000
Redemption of loans
$237,000
Premiums on loans
9,000
Interest on loans
237,405
Erie and Champlain tolls
$111,310
Surplus tolls to E. and C. Canals
65,20C
Railroad tolls
32,160-
143,470
Canal Commissioners (construction)
979,813
Other funds to redeem stock
87,000
Seneca Lock Navigation Company
53,872
Appropriation from S. F. to pay int
11,962
Superintendents of repairs
454,641
Gross tolls
634,017
Collectors
47,144
Miscellaneous
784,431
Miscellaneous
144,038
Deficiencies paid by the general fund
146,497
Deficiencies paid by E. and C. Canals
145,287
Account of canal overdrawn
20,544
Total
$2,219,119
Total
$2,219,119
COST,
MILEAGE,
REVENUE
AND
EXPENSES.
Cost of
Mile-
Ton-
Reve-
Ex-
Cost of
Mile-
|Ton-
Reve-
Ex-
Year.
Works.
age.
nage.
nues.
penses.
Year.
Works.
age.
nage.
nues.
penses.
1826.
$42,190
$2,821
$255
1843.
$238,911
22.77
25,998
$17,938
$12,407
1827.
107,259
155
1844.
238,915
22.77
31,099
23,054
15,465
1828.
198,177
1845.
239,671
22.77
46,464
28,881
15,350
1829.
218,961
22.77
8,370
8 039
1846.
239,671
22.77
61,014
29,395
14,514
1830.
225,846
22 77
13,087
6,660
1847.
291,604
22.77
58,204
26,909
15,626
1831.
225,846
22.77
8,860
4,123
1848.
361,824
22.77
46,252
28.471
14,439
1832.
225,946
22.77
12,376
4,932
1849.
368,862
22.77
40,440
27,735
13,203
1833.
225,946
22.77
15,591
10,146
1850.
370,958
22.77
42,379
27,589
11,956
1834.
226,036
22.77
18,053
9,875
1851.
385,181
22.77
37,084
26,258
22,442
1835.
226,036
22.77
20,193
11,688
1852.
449,428
22.77
47,275
22,524
28,840
1836.
226,036
22.77
19,915
27,725
1853.
449,428
22.77
58,973
25,170
16,032
1837.
226,036
22.77
20,274
16,649
31,931
1854.
449,428
22.77
72,995
24,809
18,738
1838-
226,036
22.77
23,541
17,489
21,064
1855.
567,249
22 77
76,744
21,916
12,728
1839.
226,036
22.77
26,300
19,355
25,306
1856.
736,047
22.77
131,907
20,921
12,641
1840.
226,036
22.77
32,486
17,787
24,197
1857.
872,636
22.77
120,435
19,457
15,723
1841.
228,091
22.77
34,634
22,445
17,840
1858.
996,843
22.77
75,968
14,402
33,983
1842.
238,911
2277
31,716
17,993
16,233
1859.
1,033,685
22.77
80.602
17,449
7,676
17
yrs
3,519,425
318.78
168,951
231,139
220,014
17
yrs
8,290,341
387.09
1,053,833
402,878
281,763
Aver.
207,025
22.77
28,158
13,591
12,883
Aver.
487,667
22.77
61,931
23,693
16,574
SENECA RIVER TOWING PATH.
The Seneca River Towing Path is about 5 miles long. It is of little import-
ance. The revenue derived from it in 1859 was $242.
CROOKED LAKE CANAL.
LENGTH-Dresden to Penn Yan
7.69 miles
The Crooked Lake Canal connects the navigation of Seneca and Crooked
Lakes, the ascent from the former to the latter, 273 feet, being reached by 28
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NEW YORK-CHEMUNG CANAL.
locks. The surface of Seneca Lake is 441 feet, and of Crooked Lake 714
feet above tide-water and the length of the former, from Geneva to Havana,
37 miles, and of the latter, from Penu Yan to Hammondsport, 22 miles.
This canal was commenced in 1830, and completed in 1833.
STATEMENT of the Receipts and Payments on account of the Crooked Lake Canal, from the
commencement of the work to the 30th September, 1859.
Receipts-
Payments-
Loans ($100,000, and $20,000, '33) $120,000
Principal of loan (1850)
$120,000
Premiums on loans
20,402
Interest on loans
112,788
From Sinking Fund
143,000
Canal Commissioners (construction)
304,778
Gross Tolls
38.120
Superintendents of repairs
125,223
Miscellaneous
13,408
Collectors
19,786
Deficiencies paid by General Fund
69,818
Miscellaneous
22,557
"
paid by E. and C. Canals
300,799
Balance on hand 30th Sept, 1859
415
Total
$705,547
Total
$705,547
CosT, MILEAGE, TONNAGE, REVENUE AND EXPENSES.
Cost of
Mile-
Re-
Ex-
Cost of Mile-
Re-
Ex-
Year.
Works.
age.
Tonnage.
venues.
penses.
Year.
Works.
age.
Tonnage.
venues.
penses.
1834.
$140,012
7.69
$1,008
$2,438
1847.
$213,672
7.69
36,318
$1,774
$6,941
1835.
140,014
7.69
1,804
4,045
1848.
271,166
7.69
34,155
1,858
9,441
1836.
140,270
7.69
1.954
5,489
1849.
273,329
7.69
36,317
1,819
11.072
1837.
140,672
7 69
24,258
1,548
6,469
1850.
283,461
7.69
38.797
1,796
6,761
1838.
140,672
7.69
30,336
1,566
5,603
1851.
289,890
7.69
29,309
1,714
7,073
1839.
140,672
7.69
26,823
1,894
3,663
1852.
291,641
7.69
35,757
1,246
8,900
1840.
140,672
7.69
24,026
1,613
5,433
1853.
291.641
7.69
53,985
1,657
6,308
1841.
140,674
7.69
33,030
2,023
10,451
1854.
293,361
7.69
25,349
1,304
6,044
1842.
140,674
7.69
18,660
1,217
8.935
1855.
295,926
7.69
25,850
837
6 208
1843.
140,674
7.69
31,856
1,342
4,554
1856.
296,706
7.69
28,559
1,154
1,562
1844.
140,674
7.69
32,589
1,367
4,748
1857.
304,047
7.69
16,571
879
904
1845.
140,683
7.69
39,489
1,663
5,702
1858.
304,631
7.69
16,318
521
542
1846.
167,041
7.69
35,556
1,846
6,259
1859.
304,778
7.69
17,933
715
440
13
$1,853,404
99.97
296,623
$20,845
$73,759
13
$3,714,249
99.97
395,218
$17,274
$71,316
Aver.
142,569
7.69
29,662
1,603
5,676
Aver.
285,711
7 69
30,401
1,329
5,486
CHEMUNG CANAL.
LENGTH-Seneca Lake to Elmira
23.00 miles.
Feeder from Canal at Horseheads to Knoxville
16.75
"
The Chemung Canal enters the valley of Catharine Creek, at the head of
Seneca Lake, which it follows to the village of Horseheads, 15 miles and
thence, by the valley of Marsh Creek, is conducted to Elmira, on the
Chemung River, 6 miles-forming part of a chain of communication reaching
from the Erie Canal to the Susquehanna, and thence to Chesapeake Bay and
the Ocean. In the first 11 miles, the rise from the Lake is 443 feet, which is
overcome by 44 lift locks; the summit level is about 5 miles long, and thence
to Elmira the fall is 48 feet, by 5 locks.
A navigable feeder, taking its water from the Chemung River, at Knoxville,
extends thence to the summit level, at Horseheads, a distance of 16 miles,
making, with the main line, nearly 40 miles of navigation. It has three lift
locks at its eastern terminus, where it joins the canal, and a guard lock, the
latter connecting it with the Chemung. The total lockage on the feeder is
27 feet.
The total distance from Montezuma, by way of the Cayuga Seneca Canal,
the Seneca Lake and the Chemung Canal is 83 miles.
The construction was commenced in 1830, and completed in 1833.
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NEW YORK-GENESEE VALLEY CANAL.
375
STATEMENT of the Receipts and Payments on account of the Chemung Canal, from the
commencement of the work to the 30th September, 1859.
Receipts-
Payments-
Loans
$663,601
Principal of loans
$470,184
Premium on loans
$41,380
Temporary loans
20,000
Discount on loans
14,292-
27,088
Interest on loans
559,465
Temporary loans
20,000
Canal Commissioners (construction)
879,816
From Sinking Fund
677,626
Superintendents of repairs
741,742
Interest on deposits
526
Collectors
43,210
Gross Tolls
322,019
Miscellaneous
34,592
Miscellaneous
39,531
Deficiencies paid by General Fund
241,145
"
paid by E. and C. Canals
757,438
Total
$2,748,974
Total
$2,748,974
COST,
MILEAGE,
TONNAGE,
REVENUES
AND
EXPENSES.
Cost of Mile-
Ton-
Re-
Ex-
Cost of
Mile-
Ton-
Re-
Ex-
Years.
Works.
age.
nage.
venues.
penses.
Years.
Works.
age.
nage.
venues.
penses.
1834-
$340,696
23
$2,398
$50,848
1847.
$664,835
23
189,165
$13,677
$17,046
1835.
342,955
23
4,153
12,212
1848.
669,196
23
150,691
16,821
29,110
1836.
342,964
23
5,078
10,661
1849.
669,425
23
135,867
16,049
26,033
1837.
342.964
23
20,288
4,343
16,285
1850.
689,302
23
128,263
16,276
30,782
1838.
346,523
23
30,256
4,478
13,099
1851.
743,640
23
159,563
15,986
44,897
1839.
348,183
23
36,089
4,768
15,503
1852.
754,655
23
187,577
15,683
35,150
1840.
348,183
23
34,217
5,011
13,237
1853.
756,829
23
249,980
20,810
26,098
1841.
348,251
23
63,042
7,158
24,377
1854.
769,594
23
270,978
19,635
35,287
1842.
448,308
23
54,866
7,206
34,528
1855.
792,641
23
223,271
19,772
25,348
1843.
634,295
23
66.247
9,188
15,645
1856.
799,613
23
245,621
17,111
7,055
1844.
659,712
23
88,231
12,951
13,258
1857.
812,836
23
187,201
17,102
68,536
1845.
663,179
23
114,740
20,281
18,519
1858.
852,824
23
205,168
13,348
164,307
1846.
663,189
23
124,768
15,863
16,144
1859.
879,816
23
256,323
16,868
20,981
13
ys.
$5,829,402
299
632,744
102,886
254,196
13 ys.
$9,855,236
299
2,589,670
219,138
599,030
Aver.
448,415
23
63,274
7,914
19,553
Aver.
758,095
23
199,205
16,857
46,079
GENESEE VALLEY CANAL.
LENGTH-Main Line : Rochester to Olean
107.00 miles.
Extension : Olean to Millgrove
11.20
"
Branch : Dansville to Shakers
6.75
"
The Genesee Valley Canal connects the Erie Canal at Rochester, with the
Alleghany River at Olean and Millgrove, and has a branch extending from
the main line at Shakers, four miles south of Mount Morris, to the village
of Dansville.
The lockage from Rochester to the summit level in Alleghany county is
all ascending, as is also that by the branch to Dansville. The ascent to
Mount Morris and Shakers is 931 feet, reached by 10 locks, and thence to
the summit 8841 feet, reached by 87 locks. The summit level extends from
New Hudson to North Hinsdale, a distance of 12 miles, and thence the canal
descends to the Alleghany River. 86 feet, by 9 locks. Elevation above tide
-Rochester 5071 feet, Mount Morris and Shakers 601 feet, the summit
1,4854 feet, and the Alleghany at Olean, 1,3971 feet. The ascent from
Shakers to Dansville is 821 feet, reached by 8 locks. All the work of con-
struction on this canal is completed, except two lift locks intended to connect
the same with the Alleghany.
The water supply for the main line is derived from the following sources.
a feeder from Allen's Creek at Scottsville; the Genesee River a mile north
of Mount Morris; a feeder from Wiscoy Creek at Mixville; a feeder from
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376
NEW YORK-GENESEE VALLEY CANAL.
the Genesee at Oramel; the Rocksville reservoirs; a feeder from Oil Creek
reservoir two miles north of Cuba; Champlain and Chamberlain's Creeks
in the village of Cuba, and a feeder from Ischua Creek near Hinsdale. The
last four enter the canal on the summit level. South of the summit, at
Smith's Mills, there is a short feeder from Olean Creek. The Dansville
Branch is supplied by a feeder from Mill Creek at Dansville, and one from
the Canasaragua, two miles north of that place. The supply for the branch
is short during the dry season, and is about to be increased by new works.
The construction of the Genesee Valley Canal was commenced in 1837,
and completed as follows: Rochester to Shakers, 41 miles, and Shakers to
Dansville, 11.2 miles, in 1840; Shakers to Oramel 36.4 miles, in 1851; Ora-
mel to Belfast, 1.95 mile, in 1853 ; Belfast to Rockville, 12.8 miles, in 1854
Rockville to Olean Basin, 25.4 miles, in 1856, and to the Alleghany in 1860.
The Extension Canal was commenced in June, 1857, and completed to
Portville, about 5 miles, in August, 1859.
STATEMENT of the Receipts and Payments on account of the Genesee Valley Canal, from
the commencement of the work to the 30th September, 1859
Receipts-
Payments-
Loans
$3,885,000
Loans repaid
$1,356,756
Discount on loans $56,380
Temporary loans repaid
555,000
Premium
"
15,106- 41,274-$3,843,726
Interest on loans
3,563,367
Temporary loans
555,000
Surplus tolls to Erie Canal
24,294
From Sinking Fund
3,567,673
Canal Commissioners (cost)
5,522,656
From other Funds
1,693,209
Superintendent of repairs
582,106
Gross tolls (1841-59)
449,362
Collectors
43,898
Interest on deposits
189,950
Miscellaneous
120,709
Miscellaneous
45,855
Deficiencies paid from general fund.
122,192
"
" from E. & C. Can. funds
1,375,951
Total
$11,868,788
Total
$11,868,788
COST, MILEAGE, TONNAGE, REVENUES AND EXPENSES.
Cost of
Mile-
Ton-
Reve-
Ex-
Cost of
Mile-
Ton-
Reve-
Ex-
Year.
Works.
age.
nage.
nues.
penses.
Year.
Works.
age.
nage.
nues.
penses.
1840.
$2,167,380
52.2
13,653
$2,176
1850.84,351,376
522
89,804
$28,822
$18,737
1841.
2,780,140
52.2
26,892
12,275
13,675
1851.
4,580,756
88.6
100,722
25,451
36,706
1842.
3,300,549
52.2
41,860
12,076
19,371
1852
4,789,687
88.6
122,901
25,064
76,383
1843.
3,471,217
52.2
48,313
13,734
15,261
1853.
4,972,233
90 5
157,164
30,184
62,093
1844.
3,673,324
52.2
65,077
18,587
17,260
1854.
5,071,173
93.3
158,942
30,662
47,883
1845.
3,708,635
52.2
73,546
20,484
17,157
1855.
5,194,854
93.3
102,321
28,391
54,295
1846.
3,747,964
52.2
87,615
24,183
19,078
1856.
5,318,675
93.3
113,731
23,366
25.560
1847.
3,758,406
522
95,632
25,055
17,288
1857.
5,388,554
117.7
114,576
25,966
44,923
1848.
3,791,442
52.2
98,467
26,012
28,533
1858.
5,462,810
117.7
118,303
25,652
53,771
1849.
3,976,211
52.2
84,674
25,234
18,791
1859.
5,522,656
122.7
124,263
24,164
36,063
10
ys.$34,375,268
522.0
635,729
177,640
168,590
10
ys
50,652,774
957.9
1,202,727
271,722
457,414
Aver.
3,437,526
52.0
63,573
17,764
16,859
I
Aver.
5,065,277
95.8
120,272
27,172
45,641
JUNCTION CANAL.
LENGTH-Elmira to State line of Pennsylvania
13 miles.
The Junction Canal was constructed by an incorporated company with the
design of connecting Chemung Canal, at Elmira, with the Wyoming or Upper
North Branch Canal of Pennsylvania, and completed in 1858. By means
of this short but important link in the chain of canals, a continuous naviga-
tion for boats of 180 tons is secured from the Erie Canal, at Montezuma, to
Chesapeake Bay and the Ocean.
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STATE OF NEW JERSEY.
BELVIDERE DELAWARE.
MORRIS AND ESSEX.
BURLINGTON AND MOUNT HOLLY.
NEW JERSEY.
CAMDEN AND AMBOY.
NEWARK AND BLOOMFIELD.
CAMDEN AND ATLANTIC.
NORTHERN.
CAMDEN AND WOODBURY.
PATERSON AND HUDSON.
CENTRAL.
PATERSON AND RAMAPO.
ELIZABETH AND SOMERVILLE.
RARITAN AND DELAWARE BAY.
FLEMINGTON.
SOMERVILLE AND EASTON.
FREEHOLD AND JAMESBURG.
SUSSEX.
MILLSTONE AND NEW BRUNSWICK.
WARREN.
MILLVILLE AND GLASSBORO'.
WEST JERSEY.
The Railroad first constructed in the State of New Jersey was the
Camden and Amboy, which was chartered in 1830, and completed between
Bordentown and Hightstown, 14 miles, on the 22d December, 1832, and
between Camden and South Amboy, 611 miles, in 1834. The Trenton
Branch, 6 miles, and the line between Trenton and New Brunswick were
completed in 1839. The Philadelphia and Trenton, which is owned by the
Camden and Amboy, and forms a part of its line, was purchased in 1837.
This road is probably the most productive work of the kind ever constructed.
It has paid dividends averaging nearly 12 per cent. annually for twenty-seven
years, accumulating in the mean time a very large surplus. Its extraordinary
revenues are in a great measure due to the monopoly it enjoys of the right
of way between the cities of New York and Philadelphia. This monopoly
was not created in the act incorporating the Company, but was subsequently
purchased by a grant to the State of stock in the road to the amount of
$200,000, and by an agreement to pay certain transit duties on persons and
property passing through its territory. The parties connected with this
work were not long in perceiving the value of the exclusive right of way
across the State, which may be regarded as the key to the great routes of
commerce and travel for the whole country, with the power to levy
exorbitant tolls. The State became a willing party to the scheme, under
the idea that it could thereby draw the means for supporting its government
from citizens of other States, thus relieving its own from the burdens of
taxation. Such a result has been gained. The State now derives a revenue
of over $200,000 annually from transit duties and dividends on the stock
presented to it. The effect, however, has been to build up within it a power,
to which, in all matters touching real or fancied interest, the Legislature
48
377
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378
STATE OF NEW JERSEY.
itself is the subordinate one-no act being allowed to pass that body against
the wishes of the Company. Such a relationship, however, cannot exist
without serious injury to the moral and material welfare of the people of the
State. It is fortunate that this policy of imposing a tax for the privilege of
passing through its territory is confined to two States-New Jersey and
Maryland-otherwise the internal commerce of the country might be almost
entirely destroyed, and our States converted into hostile communities, intent
only in plundering each other. Such precedents are rarely departed from.
Although there is no doubt that the State of New Jersey has suffered vastly
more than she has gained by the monopoly, the prospective advantages of
a liberal policy, necessary to a full development of the energies and resources
of the State, weigh nothing against an absolute payment of more than
$200,000 annually. The total amount received into the State Treasury from
transit duties and dividends on its stock, and including the same, has been
$3,870,250. This Company makes no reports, except the meagre ones to
the Legislature. It has published no general statement for twenty years
past, so that nothing can be known as to the condition of its affairs. All
enquiries for information, even to the amount of equipment on the road, were
refused.
The railroad next constructed was the New Jersey Transportation, which
was commenced in 1832, and opened between Jersey City and Newark, 8.10
miles, in 1834, and to New Brunswick, 33.80 miles, in 1836. This road has
been a successful work, and is one of the most productive roads for its
length in the United States. It has paid dividends averaging 8 per cent.
annually from the date of its opening; and also to the State in transit
duties, $1,334,692.
The third railroad constructed in the State was the Paterson and Hudson,
which was opened for its whole length, 14 miles, in 1834. In 1852, it was
leased for the period of its charter to the New York and Erie Railroad, at
an annual rental of $53,400, which is about 8 per cent on its cost. No
accounts of this road were obtainable prior to the date of the lease.
The fourth railroad constructed was the Morris and Essex, which was
opened, from Newark to Morristown, 23 miles, in 1834. It was extended
to Dover, 9 miles, in 1848, and to Hackettstown, 29 miles, in 1854. No state-
ment of the affairs of this Company prior to 1853 could be obtained. Since
that time it has paid dividends averaging 5 per cent. annually.
In 1839 two roads were opened-the Camden and Woodbury, 9 miles,
and the Elizabeth and Somerville, 25 miles. The Camden and Woodbury,
after having been operated some years, was abandoned. Its route is now
occupied by the West Jersey Railroad. The Elizabeth and Somerville was
merged in the Central New Jersey Railroad in 1850.
No further additions were made to the railroad mileage in the State till
1848, when the Somerville and Easton was opened 9 miles, and the Paterson
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STATE OF NEW JERSEY.
379
and Ramapo, 15.12 miles. The Somerville and Easton was consolidated into
the Central New Jersey in 1850. The Paterson and Ramapo was leased to
the New York and Erie in 1852, in perpetuity, at an annual rental of
$26,500. No information relative to this Company prior to the date of the
lease could be obtained.
In 1849, the Burlington and Mt. Holly, 7.12 miles, was opened. It has
paid dividends averaging 3.66 per cent.
In 1851, the Belvidere Delaware Railroad was opened 14.50 miles, and
completed in 1855. It was constructed under the auspices of the Camden
and Amboy Company. It has paid nothing on its stock.
In 1852, the Central New Jersey Railroad was extended to Easton, 29.30
miles. This has been a successful work, having paid dividends averaging
5.75 per cent. The Belvidere Delaware Railroad was also extended 10 miles.
In 1854, the Freehold and Jamesburg was opened 11.50 miles, and the
Belvidere Delaware extended 16.50 miles. The Freehold and Jamesburg
has paid only one dividend of 30 per cent. on stock in 1857.
In 1854, 90.85 miles were opened. The Camden and Atlantic was
opened 60.23 miles; the Flemington, 12 miles; the Millstone and New
Brunswick, 6.62; the Belvidere Delaware, 9 miles, and the Sussex, 12 miles.
The Morris and Essex was completed this year. The Camden and Atlantic
has been entirely unproductive on its stock, and only a portion of the interest
due on its bonds has been paid for several years past. The affairs of this
Company are in litigation, and an effort is now being made for the re-organi-
zation of the Company. Neither the Flemington nor the Sussex Railroads
have paid dividends.
In 1855, the Newark and Bloomfield was opened five miles, and the Bel-
videre Delaware extended 14.27 miles. The Newark and Bloomfield has
paid only one dividend of 21 per cent.
In 1856, the Warren Railroad was opened 21.04 miles, and the Newark
and Bloomfield extended one mile. The Warren Railroad forms a part of
the line of the Delaware, Lackawanna and Western, and is leased to it at an
annual rent of 54 per cent. on its stock.
In 1857, the West Jersey Railroad was opened nine miles. The road being
a ramification of the Camden and Amboy, the retiscence common to that
Company was observed by the officers of this, (who are also connected with
the parent line,) by a refusal to answer any enquiries.
In 1858, the Northern Railroad was opened. The Millville and Glass-
boro' was opened in April, 1860.
The railroads in progress in the State are the Delaware and Raritan Bay,
a short portion of which has been recently opened; the Millville and Wins-
low, and the West Jersey. Work is soon to be commenced on the Miners'
and Manufacturers', and the Hackensack and New York Railroads. Several
City Railroads are also being constructed in Jersey City and other places.
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380
STATE OF NEW JERSEY.
STATEMENT, showing the Share Capital and Debts of the several Railroad Companies of the
State of New Jersey, with the amount of productive and unproductive capital in each:
Corporate Titles of
Share Capital
Funded
Total Indebtedness
Companies.
Amount.
Prod.
Unprod.
Debt.
Amount Productive. Unprod.
Belvidere Delaware
$997.700
s
$997,700
$2,049,500
$2,238,388
$2,238,388
$
Burlington & Mt. Holly.
100,000
100,000
20,000
20,000
20,000
Camden & Amboy (&
Canal)
3,798,400
3,798,400
8,535,000
8,535,000
8,535,000
Camden & Atlantic
657,351
657,351
1,006,800
1,442,455
600,000
842,455
Central
2,412,000
2,412,000
3,237,000
3,274,761
3,274,761
Flemington
150,000
150,000
92,600
171,487
92,600
78,887
Freehold & Jamesburg
173,225
173,225
Millstone & N. Brunsw'k.
102,365
102,365
8,849
8,849
Morris & Essex
1,157,800
1,157,800
240,000
240,000
240,000
New Jersey
3,749,000
3,749,000
688,000
688,000
688,000
Newark & Bloomfield
103,950
103,950
Northern
154,157
154,157
188,700
213,700
213,700
Paterson & Hudson
630,000
630,000
Paterson & Ramapo
248,225
248,225
100,000
100,000
100,000
Sussex
180,146
180,146
200,000
209,957
209,957
Warren
1,024,600
1,024,600
600,000
600,000
600,000
West Jersey
216,794
216,794
46,582
46,582
Total
15,856,713
13,224,975
2,631,738
16,957,600
17,789,179
16,867,837
921,342
The total liabilities of all the railroad companies in the State of New
Jersey are $33,645,892, viz : Share capital, $15,856,713; funded debts,
$16,957,600; and floating debts, $831,579. Of the share capital $13,224,975
is productive, and $2,631,738 unproductive. Interest is regularly paid on
$16,867,837 of the debts of the companies, and not paid on $921,347.
The total earnings of all the railroads of the State have been $56,015,855,
received from the following sources passengers, $33,409,184; merchan-
dize, $17,851,892; and miscellaneous sources, $4,756,789. The rate of gross
earnings upon the cost of the road has been about 18.3 per cent; and of net
earnings, 8.3 per cent. ; the dividends have been equal to 6.7 per cent. on the
aggregate share capital for all the roads. The ratio of expenses to gross
earnings has been 54.39 per cent.
The railroads of New Jersey are probably the most productive in the
United States; at least among the northern States. This is owing in a great
measure to the position of the State in reference to the great lines of public
works. Nearly three-fourths of the aggregate earnings of the railroads of
the State are on the comparatively short lines between New York nnd
Philadelphia.
The results of the operations of the Delaware and Raritan Canal are not
given in the following tabular statement, but are fully shown in the account of
the Camden and Amboy Railroad. This is a work of great value and
importance to the country, and particularly in reference to the coal trade for
which it serves as the great avenue between New York and the coal carriers
in Pennsylvania. The same rate of dividends have been paid on the share
capital of the canal as upon that of the railroad.
The Morris and Essex Canal, though a valuable work, has not been a pro-
ductive one to the holders of its common stock.
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RAILROADS IN THE STATE OF NEW JERSEY.
STATEMENT showing the Share Capital, Indebtedness, Cost, Mileage, Receipts for transportation of Passengers, Receipts for transportation of
Freight, Receipts for transportation of Mails, Operating Expenses, Net Earnings, and Dividends paid by the Railroad Companies
of the State of New Jersey, for each year, since the opening of the first road in 1833:
Capital Account
Cost of
Length
Gross Earnings
Operating
Earnings
Amount
Year.
Share
Funded
Floating
Total
Road &
of
Passenger
Freight
Mail, etc.,
Total
Expenses
less
of
Capital.
Debt.
Debt.
Capital.
Equipment.
Road.
Earnings.
Earnings.
Earnings.
Earnings.
& Repairs.
Expenses.
Dividend.
Year.
1833
$949,297
$395,719
$29,311
$1,374,327
$1,374,327
51.50
$307,021
$129,513
$31,508
$468,142
$287,092
$181,050
$57,750
1833
1834
1,492,506
811,712
33,412
2,337,630
2,337,630
61.28
351,955
157,838
37,210
547,003
281,384
265,619
90,000
1834
1835
2,473,915
1,152,700
27,912
3,654,527
3,613,917
89.43
502,319
236,623
38,120
777,062
369,171
407,891
124,817
1835
1836
2,975,106
1,472,326
49,111
4.496,543
4,275,327
109.08
637,998
259,117
37,543
934,658
468,829
465,829
237,500
1836
1837
3,672,130
1,564,010
41,717
5,277,857
5,122,301
132.31
621,137
279,132
50,728
971,997
538,602
433,395
165,000
1837
1838
3,913,618
1,627.918
49,652
5,591,188
5,397,619
137.13
650,822
273,855
61,310
985,987
533,335
452,652
255,000
1838
1839
4,541,881
1,726,511
63,157
6,331,549
6,160,857
194.20
661,317
272,197
63,600
997,114
545,507
451,607
165,000
1839
1840
4,593,144
1,777,520
71,860
6,442,524
6,367,819
194.20
672,780
298,715
62,923
1,034,418
573,181
461,237
150,000
1840
1841
4,667,319
1,922,317
60,987
6,650,623
6,661,229
197 20
701,592
374,172
95,365
1,171,129
579,642
591,487
168,906
1841
1842
4,672,348
2,012,250
53,105
6,737,703
6,822,319
197.20
799,812
304,083
101,305
1,205,200
619,441
585,759
212,695
1842
1843
4,679,551
2,163,712
107,110
6,950,371
7,213,115
197,20
779,518
409,878
107.922
1,279,318
620,331
666,987
267,310
1843
1844
4,690,111
2,237,918
112,389
7,040,418
7,429,668
197.20
859,299
407,725
111,522
1,376,546
678,105
698,441
296,500
1844
1845
4,712,382
2,416,922
131,719
7,260,959
7,731,212
197.20
892,305
375,097
113,417
1,380,819
682,111
698,708
314,866
1845
1846
4,771,554
2,581,912
98,230
7 451,696
7,740,318
197.20
901,381
517,643
122,989
1,542,033
812,878
739,155
363,653
1846
1847
4,772,119
2,650,109
149,311
7,571,539
7,756,322
197.20
1,103,927
465,368
131,817
1,721,112
966,270
754,842
330,393
1847
1848
4,996,512
3,217,555
160,742
8,374,609
8,582,920
247.35
1,298,715
551,387
129.310
1,979,412
1,117,221
862,191
390,905
1848
1849
5,679,818
3,296,000
204,109
9,179,927
9,615,209
254.47
1,402,114
621,519
137,292
2,127,303
1,231,277
896,026
325,085
1849
STATE OF NEW JERSEY.
1850
6,122,319
4,370,050
210,417
10,702,786
11,192,817
254.47
1,484,284
656,318
142,911
2,298,513
1,411,322
887,191
331,408
1850
1851
7,392,666
4,962,327
196,202
12,551,195
12,991,616
268 97
1,731,662
722,391
178,666
2,632,719
1,693,754
938,965
426,404
1851
1852
8,494,420
5,722,600
251,801
14,448,821
14,683,521
299.27
1,775,741
836,910
201,121
2,813,772
1,726,919
1,086,853
536,698
1852
1853
8,984,730
5,868,009
279,751
15,132,490
15,303,784
327.27
2,011,726
900,508
247,754
3,159,988
1,808,417
1,351,571
1,000,405
1853
1854
10,614,971
7,582,370
1,347,873
19,545.214
19,849,679
431.08
2,118,809
1,006,516
310,214
3,435,539
2,011,203
1,424,336
978,364
1854
1855
11,069,450
9,016,356
1,366,902
21,452,708
21,627,340
450.35
2,143,777
1,097,587
300,506
3,541,870
1,916,273
1,625,597
777,947
1855
1856
11,966,321
10,893,492
1,522,555
24,382,369
24,960,241
472.39
2,286,340
1,340,970
354,841
3,982,151
2,203,418
1,778,733
1,053,302
1856
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1857
12,425,934
11,751,880
1,630,150
25,807,964
26,898,070
481.39
2,179,650
1,577,292
497,713
4,254,655
3,229,806
2,024,849
952,114
1857
1858
12,947,392
12,301,215
1,110,134
26,358,741
26,984,479
481.39
2,132,909
1,726,156
487,579
4,346,644
2,104,822
2,231,822
801,874
1858
1859
13,057,313
12,732,237
785,253
26,574,803
27,398,853
502.66
2,379,364
2.033,282
501,603
4,914,249
2,319,882
2,594,367
909,608
1859
27 yrs.
171,328,863
118,227,647
10,148,872
299,705,382
306,092,309
6,820.79
33,407,274
17,851,792
4,756,789
56,015,855
30,460,193
25,555,662
11,683,524
27
yrs.
Aver.
6,345,513
4,378,802
375,884
11,100,199
11,336,752
252.62
1,237,306
661,177
176,177
2,074,660
1,128,154
946,506
432,723
Aver.
Norz-In the above table only so much of the funded debt of the Camden and Amboy Company is included that, with the share capital. makes up the
cost of the railroad. The income of leased roads is placed in the column appropriated to Mails, etc." The floating debt, after 1855, is largely swelled by
the introduction of the floating liabilities of the Belvidere Delaware and the Camden and Atlantic Companies.
381
RAILROADS OF THE STATE IN DETAIL.
BELVIDERE DELAWARE RAILROAD.
(Financial year ending 31st December, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1860.
Robert F. Stockton
Princeton, N.J.
W.P. Robeson
Belvidere, N.J.
Richard Stockton
"
"
Charles Bartles
Flemington, "
John R. Thompson
"
"
Samuel D. Stryker
Lambertville, "
E. A. Stevens
Hoboken, "
Lewis Perrine
Trenton, "
CHARLES SITGREAVES, President.
Phillipsburg, N.J.
ROBERT F. STOCKTON, Jr., Treasurer and Secretary
Princeton, "
ASHBEL WELCH, Superintendent and Engineer
Lambertville, "
PRINCIPAL OFFICE
LAMBERTVILLE, Hunterdon Co., N.J.
LENGTH OF RoAD-Belvidere to Trenton Junction
64.21 miles.
Second Track, including Sidings, about 10 miles.
ROLLING STOcK-Locomotive engines
13
Cars:-Passenger, 15; baggage and mail, 3; freight, coal, etc., 526
544
The Belvidere Deleware Railroad Company was chartered on the 2d March,
1835. The work of construction was commenced in 1849, and the road
completed and opened for public use, from Trenton-to Lambertville, 14₺
miles, in the spring of 1851; to Tumble, 241 miles, in April, 1852; to
Milford, 34 miles, in January, 1853; to Reigelsville, 41 miles, in December,
1853; to Phillipsburg, 50 miles, in February, 1854, and to Belvidere, 64
miles, on the 5th November, 1855. The Flemington Railroad was completed
on the 4th December, 1854, and has since been operated in connection with
this Company. A separate company has been formed to build a road from
Belvidere to Bridgeville, at which place a connection will be made with the
Delaware, Lackawanna and Western Railroad. The greater part of the
stock of this Company is owned by the Camden and Amboy Railroad
Company.
SHARE CAPITAL-Authorized, $1,000,000, in 10,000 $100 shares.
Paid, - - $997,700, in 9,977 "
"
FUNDED DEBT-$2,049,500 described as follows—
1st Mortgage, 6 per cent. convertible coupon bonds
$1,000,000
-dated in 1852, and payable, principal in 15 years, and interest semi-annually,
1st June and 1st December, at New York.
2d Mortgage, 6 per cent., coupon bonds
$500,000
-dated in 1854, and payable, principal in 1885, and interest semi-annually,
1st March and 1st September, at Princeton.
3d Mortgage, 6 per cent., coupon bonds
$549,500
-dated 1857, and payable, principal in 20 years, and interest semi-annually,
1st February and 1st August, at Princeton. The third mortgage provided
for an issue of bonds to the amount of $750,000.
The payment of all the above bonds is guaranteed by the Camden and
Amboy Railroad Company.
FLOATING DEBT-$188,888, of which $78,609 consists of special loans.
COST OF ROAD AND EQUIPMENT-$3, 192,269. No detail.
382
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NEW JERSEY-BURLINGTON AND MOUNT HOLLY.
383
INCOME ACCOUNT FOR THE YEAR ENDING 31sT DECEMBER, 1859.
Disbursements-
Receipts-
Passenger earnings
$873,144
Operating expenses
$141,731
Freight
"
165,341
Income less expenses.
127,874
Mail, etc.
"
31,120
hhh
Total
$269,605
Total
$269,605
GENERAL STATEMENT, 1ST JANUARY, 1859.
Dr.
Cr.
Cost of road and equipment
$3,192,269
Share capital
$$997,700
Profit and loss.
43,819
Funded debt
2,049,500
Special loans
78,609
Other indebtedness
110,279
Total
$3,236,088
Total
$3,236,088
COST, EARNINGS, EXPENSES, ETC., YEARLY.
Cost of
Mile-
Year.
Gross Earnings
Operating
Earnings
Div.
Road, etc.
age.
Pass'rs.
Freight.
Mails.
Total.
expenses.
less exp.
1853
$1,467,000
34.00
$36,122
$12,359
$873
$49,354
$36,447
$12,907
nil.
1854
2,177,376
50.00
71,851
48,620
5,385
125,856
78,974
46,882
"
1855
2,619,000
50.00
79,836
66,563
14,879
161,278
88,266
73,012
"
1856
2,844,000
64.00
96,799
129,004
17,592
243,395
145,374
98,021
"
1857
2,937,613
64.00
77,041
180,737
21,679
279,457
156,042
123,414
"
1858
3,173,285
64.00
68,994
131,518
23,791
224 303
129,761
94,542
"
1859
3,192,269
64.00
73,144
165,341
31,120
269,605
144,731
127,874
"
7 Y'rs.
18,410,543
390.00
503,787
734,142
115,319
1,353,248
776,595
576,653
nil.
Aver
2,630,078
55.71
71,969
104,889
16,474
193,321
110,942
82,379
"
NOTE.-The value of materials on hand January 1, 1860, was $43,147, which, added to surplus
earnings, makes this sum and the expenses equal to the gross earnings.
BURLINGTON AND MOUNT HOLLY RAILROAD.
(Financial year ending 31st December, 1859.)
CHARLES BISPHAM, President.
Burlington, N.J.
PRINCIPAL OFFICE
BURLINGTON, Burlington Co., N.J.
LENGTH OF RoAD-Burlington to Mount Holly
7.12 miles.
Second track, none. Sidings, etc., 0.67 mile.
ROLLING STocK-Locomotives
2. I Cars
12
The Burlington and Mount Holly Railroad and Transportation Company was
chartered on the 11th March, 1848. The road was completed and opened
for traffic on the 14th June, 1849.
SHARE CAPITAL-Authorized and paid in, $100,000, in 4,000 $25 shares.
FUNDED DEBT-$20,000, viz.: 1st Mortgage, 6 per cent. bonds.
COST OF ROAD AND EQUIPMENT-$120,000. No detail.
INCOME ACCOUNT FOR THE YEAR ENDING 31sT DECEMBER, 1859.
Receipts---
Disbursements-
Passenger earnings
$14,747
Operating expenses
$11,418
Freight
6,686
Interest
3,200
U.S. Mail earnings
263
Dividend, 5 per cent
5,500
Rent
100
Surplus income
1,678
Total
$21,796
Total
$21,796
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384
NEW JERSEY-CAMDEN AND ATLANTIC.
Cost, EARNINGS, EXPENSES, ETC., YEARLY.
Cost of
Mile-
Gross Earnings
Operating Earnings,
-Div.-
Year.
Road, etc.
age.
Pass'r.
Freight.
Mail.
Total.
expenses.
less exp.
$
p.c.
1853
$99,551
7.12
12,365
$3559
$643
$16,567
$13,769
$2,798
nil.
nil.
1854
99,551
7.12
13,418
5,343
438
19,199
11,985
7,214
"
"
1855
99,550
7.12
15,914
6,639
436
22,989
12,153
10,836
3,500
5
1856
111,396
7.12
13,753
6,798
312
20,863
11,866
8,997
3,500
5
1857
120,000
7.12
14,199
7,388
531
22,118
16,474
5,643
3,937
5
1858
120,000
7.12
13,819
6,089
516
20,444
14,831
5,613
4,812
5
1859
120,000
7.12
14,747
6,686
363
21,796
11,418
10,378
5,500
51
I
7 years
770,049
49.84
98,235
42,502
3,239
143,976
92,496
51,480
21,249
Average.
110,007
7.17
14,033
6,072
463
20,568
13,214
7,353
3,036
3}
CAMDEN AND ATLANTIC RAILROAD.
(Financial year ending 31st December, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
Stephen Colwell
Philadelphia, Pa.
Enoch Doughty
Absecom, N. J.
William Schmoele
"
"
Francis M. Drexel.
Philadelphia, Pa.
Andrew K. Hay
Winslow, N.J.
W.D. Bell
"
"
Joseph Porter
Waterford,
"
A. J. Antelo
"
"
Jonathan Pitney
Absecom, "
John Clement
Haddonfield, N. J.
William Coffin
Philadelphia, Pa.
Thomas McKeen
Camden,
"
JOHN BRODHEAD, President
Philadelphia, Pa.
ROBERT FRAZER, Treasurer and Secretary
"
"
G. W. N. CUSTIS, Superintendent
Camden, N.J.
PRINCIPAL OFFICE
Cooper's Point, CAMDEN, Camden Co., N.J.
LENGTH OF RoAD-Cooper's Point, Camden to Atlantic City
60.23 miles.
Second Track, none. Sidings, etc., about 5 miles.
ROLLING STOCK-Locomotive engines
4
Cars :-Passenger, 5; baggage. mail and express 2; freight, 67
it
The Camden and Atlantic Railroad Company was chartered on the 19th
March, 1852; and the road was completed and opened for traffic on the 1st
July, 1854. Successive sections had been brought into use in 1852 and '53.
SHARE CAPITAL-Authorized, $1,000,000. in 10.000 $100 shares.
Paid in,
-
$657,351
on
"
FUNDED DEBT-$1,006,800: classified as follows—
1st Mortgage, 7 per cent., coupon bonds
$1,000,000
-dated 1st August, 1852, and payable, principal 1st August, 1872, and
coupons semi-annually, 1st February and 1st August, at Philadelphia.
FLOATING DEBT-$435,655.
COST OF ROAD AND EQUIPMENT-$1,798,141. No detail.
INCOME ACCOUNT FOR THE YEAR ENDING 31sT DECEMBER, 1859.
Receipts-
Disbursemento-
Passenger earnings
$105,662
Operating expenses, repairs, etc
$85,702
Freight
"
43,744
Interest paid
40,786
Earnings from other sources
2,749
Balance of earnings
25,667
Total
$152,155
Total
$152,155
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NEW JERSEY-CAMDEN AND AMBOY.
385
GENERAL STATEMENT 1ST January, 1860.
Dr.-
Cr.
Cost of road, etc
$1,793,141
Share capital
$657,351
Profit and Loss
301,665
Funded Debt
1,006,800
Floating Debt
435,655
Total
$2,099,806
Total
$2,099,806
The Company for several years past has been embarrassed, and unable to
pay the interest on its funded debt. Its affairs are about to be re-organized,
but the plan of re-organization cannot be given as an application for infor-
mation in reference thereto was refused.
COST, EARNINGS, EXPENSES, ETc., YEARLY.
Cost of
Mile-
Gross Earnings
Operat'g
Net
-Div.-
Year.
Road,etc.
age.
Pass'r.
Freight.
Mails.
Total.
Expenses.
Earnings.
$
p.c
1855
$1,729,642
60.23
$96,742
$35,176
497
$122,415
$72,336
$50,079-
nil.
nil.
1856
1,738,171
60.23
81,820
34,783
1,286
117,889
72,365
45,524
"
"
1857
1,781,158
60.23
82,823
37,365
2,735
122,923
71,421
51,502
"
"
1858
1,787,970
60.23
91,398
39,004
2,820
133,222
75,257
57,965
"
"
1859
1,798,141
60.23
105,662
43,744
2,749
152,155
85,702
66,453
"
"
5 yrs..
8,835,082
301.15
448,445
190,072
10,087
648,604
377,081
271,523
"
"
Aver..
1,767,016
60.23
89,689
38,014
2,017
129,720
75,416
54,304
"
"
CAMDEN AND WOODBURY RAILROAD.
LENGTH OF RoAD-Camden to Woodbury
9 miles.
The Camden and Woodbury Railroad Company was chartered on the 11th
March, 1836. It was opened in 1839, and operated for several years, but
was finally abandoned. Its route is now occupied by the West Jersey RR.
DELAWARE AND RARITAN CANAL AND CAMDEN AND
AMBOY RAILROAD.
(Financial year ending 31st December, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1860-61.
Edwin A. Stephens
Hoboken, N. J.
John L. McKnight
B ordentown, N. J.
Robert F. Stockton
Princeton, "
John W. Mickle
Camden, "
William Cook
Hoboken,
"
James Baker
Perth Amboy, N.Y.
John R. Thompson
Princeton, "
John S. Livingston
Claverack, N. J.
Benjamin Fish
Trenton,
"
Joseph P. Bradley
Newark, "
Richard Stockton
Princeton, "
James Potter
Princeton,
"
James S. Green
"
"
John J. Phelps
New York City, N.Y.
James Neilson
New Brunswick,
"
Moses Taylor
"
"
State Directors-JACOB HERBERT and THEO. P. HOWELL.
EDWIN A. STEVENS, President
Hoboken, N. J.
JAMES S. GREEN, Treasurer
Princeton, N. J.
R. S. VAN RENSSELAER, Superintendent
Bordentown,
"
PRINCIPAL OFFICE
PRINCETON, Mercer Co., N. J.
LENGTH OF RoAD-Main Line, South Amboy to Camden
61.28 miles.
Branch Line, New Brunswick to Bordentown
31.09 "
Second track, on Main Line, none ; on Branch Line, 4 miles.
Sidings and other track, on Main Line, 19.41 miles; on Branch Line, 4.83 miles.
LENGTH OF CANAL-Main Line, Bordentown to New Brunswick
43.00 miles.
Navigable Feeder, Bull's Island to Trenton
22.50
"
49
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386
NEW JERSEY-CAMDEN AND AMBOY.
The Delaware and Raritan Canal and the Camden and Amboy Railroad Com-
panies are a consolidation of two companies, both of which were chartered
in February, 1830. The consolidation was consummated in 1831, and under
the joint management the works were commenced and completed-the
railroad in 1834, and the canal in 1838.
Of the railroad the section between Bordentown and Hightstown, 14
miles, was opened for traffic in October, 1832, and between Hightstown and
South Amboy, 22 miles, in December of the same year. In the winter of
1833 the line was extended from Bordentown to Rancocas, 15} miles, and in
the spring of 1834 the whole line between Amboy and Camden, 611 miles,
was brought into use. The Trenton Branch, 6 miles long, was completed
in the latter part of 1838, and the line from Trenton to New Brunswick, 25
miles, on the 1st January, 1839.
The main line of the canal extends from Bordentown on the Delaware,
via Trenton, to the Raritan River at New Brunswick. It is fed from the
Delaware River at Trenton. The feeder, which is navigable, commences at
Bull's Island, 224 miles, above Trenton. The main line is 75 feet wide, and,
as first constructed, was 7 feet deep, but has been deepened to 8 feet. The
locks, 15 in number, with 10 feet lift, are each 220 feet long, and 24 feet
wide, and admit of the passage of vessels of 500 tons burden. The width of
the feeder is about 60 feet and its depth 6 feet.
The main line of the railroad leaves South Amboy, where it connects with
New York steamboats, and runs direct to Bordentown, and thence along the
east bank of the Delaware river to Camden. From Bordentown, the branch
line proceeds, following the river, to Trenton, and thence to New Brunswick,
were it connects with the New Jersey Railroad. For 20 miles from Borden-
town, the road follows the banks of the Canal. At Trenton, a direct con-
nection is made with Philadelphia by the Philadelphia and Trenton Railroad,
now principally owned by this company, which purchased in 1837 the greater
amount of its stock,-the two companies to share alike in dividends.-(See
Philadelphia and Trenton RR.
The Company claims a monopoly of the right of transporting persons and
property across the State of New Jersey between the cities of New York
and Philadelphia. The assumption of this right is not founded on their
charter, but on subsequent acts of the Legislature. The charter of the Canal
Company provided that no rival work should be constructed within five mile
of its line; and that of the Railroad Company, that certain transit duties
should cease, provided the State authorized the construction of another road
for the transportation of passengers between New York and Philadelphia.
The monopoly was created by an act of the Legislature in 1832, whereby the
State agreed that no other road should be chartered for the transportation
of passengers between the points named, during the period of its charter,
without the consent of the Camden and Amboy Company: In consideration
for the monopoly thus created, the Company made a gift to the State of
stock to the amount of $100,000, (a similar amount having been previously
transferred to the State as a gratuity,) and agreed that the interest and
transit duties paid should not be less than $30,000 annually. In 1854 the
exclusive privileges of the Company were extended to 1869. In virtue of
these agreements the State has received from the Company, in transit duties
and dividends on the stock donated to it, and including the same, $2,536,250.
As the monopoly enjoyed is a very valuable one, the Company practises a
studious concealment of its affairs, as a means for its quiet enjoyment, mak-
ing only such meagre annual statements as are required by the Legislature.
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NEW JERSEY-CAMDEN AND AMBOY.
387
It has published, it is believed, no general statement of its affairs since 1840.
It is, consequently, impossible to tell what has become of its net income after
the payment of dividends. It receives a very large income from the Phila-
delphia and Trenton and other roads, in which it has made investments to
the amount of nearly $3,000,000. These receipts are not included in the
annual statement of earnings. Although the information here presented is
drawn from the best accessible sources, it is quite certain that it does not
give the full amount realized by the stockholders from the Company's
monopoly. Information of every kind, even to the equipment of the road,
was refused. It is very probable that dividends have been made in addition
to those given in the tabular statement. The Company is the paramount
authority in the State, dictating the legislation upon all subjects in which
it has a real or fancied interest.
SHARE CAPITAL-Railroad, $1,500,000, in 15,000 $100 shares.
Canal original, - $1,500,000
"
increased, (1857),798,400-$2,298,400, in 22,984
"
Total, Railroad and Canal,
-
$3,798,400, in 37,985 $100 shares.
Total, authorized,
$4,000,000, in 40,000
"
-
FUNDED DEBT-$8,535,000 classified as follows—
Six per cent. bonds
$800,000
-issued in 1833, and payable in 1863 ; interest semi-annually.
Five per cent. sterling bonds
£210,000 $1,008,000 =
-issued in 1834, and payable 1864; interest semi-annually, in London.
Six per cent. sterling bonds
£225,000 = $1,080,000
-issued 1837, and payable in 1864, and interest semi-annually, in London.
Six per cent. bonds
$367,000
-issued in 1840, and payable in 1864, and interest semi-annually.
Six per cent. bonds
$800,000
No details obtainable.
Six per cent. bonds
$1,700,000
No details obtainable.
Six per cent. bonds
$717,000
-issued in 1858, and payable in 1889; interest semi-annually. Issued for
second track for branch road, and for a subscription and advances to asso-
ciated companies. Amount authorized, $2,500,000.
Five per cent. sterling bonds
£185,000 = $888,000
-issued in 1836, and payable in 1863 interest semi-annually, in London.
Issued in payment of the stock of the Philadelphia and Trenton Railroad
Company.
Six per cent. bonds
$1,175,000
No details obtainable. Issued for subscription to the Belvidere Delaware
and branches, and the F. & J. Agric. Railroad Companies.
COST OF RAILROAD AND EQUIPMENT-$5,709,637.
CosT OF CANAL AND APPURTENANCES-$3,923,393.
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388
COST, EARNINGS, EXPENSES, TRANSIT DUTIES, DIVIDENDS, ETC., YEARLY.
Camden and Amboy Railrond.
Delaware and Raritan Canal
Dividends
Cost of road
Miles of
Gross
Operating
Earnings
Transit
Cost of Canal
Miles of
Gross
Ordinary
Earnings
Transit
Year.
& equipment.
road.
Earnings.
Expenses.
less exp.
duties.
Year. & appurten'ces.
Canal
earnings.
expenses.
less exp.
duties.
Amount. p. c.
1833
$1,327,913
45.13
$468,142
$287,092
$181,050
1933
$57,750
6
1834
2,500,000
61.28
547,003
281,384
265,619
1834
$1,500,000
43.00
$11,604
$11,604
120,000
6
1835
2,650,000
61.28
679,464
317,492
361,972
1835
1,700,000
43.00
47,788
37,639
$10,149
120,000
6
1836
2,800,000
61.28
770,621
363,345
407,276
1836
1,900,000
43.00
54,801
34,764
20,037
240,000
12
1837
2,950,000
61.28
731,995
359,510
372,485
1837
2,000,000
43.00
67,194
27 079
40,115
240,000
8
1838
3,100.000
67.37
754,990
355,249
399,741
1838
2,500,000
65.50
73,507
46,007
27,500
300,000
10
1839
3,220,857
92.37
685,329
258,043
427,286
1839
2,829,797
65.50
74,843
53,248
21,595
210,000
7
1840
3,250 000
92.37
548,174
265,457
282,717
$19,586
1840
3,000,000
65.50
79,468
40,769
38,699
$5,799
180,000
6
1841
3,300,000
92 37
550,016
286,644
263,372
20,072
1841
3,000,000
65.50
81,543
49,509
32,934
7,727
180,000
6
1842
3,350,000
92 37
635,336
286,071
349,265
19,151
1842
3,000,000
65.50
93,334
53,012
40,322
10,904
180,000
6
1843
3,500,000
92.37
695,111
298,952
396,159
19,680
1843
3,000,000
65.50
101,289
53,122
48,167
6,614
210,000
7
1844
3,530 000
92 37
780,709
379,235
401,474
23,936
1844
3,000,000
65.50
131,490
47,036
84,454
10,158
240,000
8
1845
3,600,000
92.37
882,751
560,408
322,343
26,853
1845
3,000,000
65.50
167,811
60,049
107,762
12,805
270,000
9
1846
3,675,000
92.37
1,022,253
597,399
424,854
28,414
1846
3,000,000
65.50
161,177
78,310
82,867
10,718
300,000
10
1847
3,750,000
92.37
1,150,383
741,918
408,465
33,017
1847
3,000,000
65.50
255,501
93,794
161,707
24,284
360,000
12
1848
3,800,000
92.37
1,152,263
662,921
489,342
34,230
1848
3,000,000
65.50
228,088
123,401
104,687
19,327
360,000
12
1849
3,900,000
92.37
999,024
635,312
363,712
37,598
1849
3,000,000
65.50
250,152
140,082
109,070
21,760
330,000
11
1850
4,000,000
92.37
1,111,692
778,390
333,302
42,202
1850
3,000,000
65.50
255,387
152,482
102,905
32,144
300,000
10
1851
4,250,000
92.37
1,285,403
767,357
518,046
47,020
1851
3,000,000
65.50
285,574
130,487
155,087
27,578
450,000
15
1852
4,327,498
92.37
1,388,385
909,971
478,414
50,186
1852
3,040,506
65.50
376,584
132,647
243,937
35,045
450,000
15
1853
4,523,509
92.37
1,744,207
1,145,473
598,734
63,321
1853
3,623,053
65.50
382,248
154,755
227,493
33,258
720,000
24
NEW JERSEY-CAMDEN AND AMBOY.
1854
4,763,184
92.37
1,682,486
1,130,029
552,457
61,175
1854
3,707,916
65.50
474,940
171,734
303,266
44,036
360,000
12
1855.
4,877,981
92.37
1,501,787
870,558
631,229
54,798
1855
3,758,542
65.50
515,939
184,628
331,311
45,990
360,000
12
1856
4,950,592
92.37
1,640,787
1,046,673
594,114
62,943
1856
3,843,504
65.50
511,331
179,191
332,140
44,421
900,000
30
1857
5,563,680
92.37
1,611,303
943,491
667,812
60,247
1857
3,863,908
65.50
484,981
195,080
289,901
42,176
1,025,568
27
Digitized by
1858
5,576,795
92.37
1,640,328
874,168
766,160
60,890
1858
3,909,075
65.50
454,108
174,065
280,043
40,072
303,872
8
1859.
5,709,637
92.37
1,886,195
1,031,907
854,288
69,721
1859
3,923,394
65.50
492,198
157,068
335,130
41,765
455,808
12
27
yrs
102,745,848
2,297.39
28,546,137
16,434,449
12,111,688
835,047
27 yrs..
78,099,695
1,613.00
6,112,880
2,581,562
3,531,318
516,581
9,223,018
Aver.
3,805,402
85.08
1,057,264
608,683
448,581
46,391
Aver.-
2,892,585
59.74
226,403
95,613
130,790
19,132
341,593
11.7
Google
Nores-Of the dividend paid in 1853, 12 per cent. was in Bonds; in 1857, 20 per cent. was in Stock.
Up to 1847, the total amount received by the State from the Company in transit duties and dividends, was $671,647 the reports of the Company to that date,
giving only the aggregate from both sources. Since that time it has received $644,331 from the Railroad and $427,572 from the Canal, in transit duties, and
$592,700 in dividends on its stock of $200,000, (which was a gift,) making an aggregate of $2,536,250 received for the monopoly conferred on the Company.
NEW JERSEY-CENTRAL
389
INCOME ACCOUNT FOR THE YEAR ENDING 31sT DECEMBER, 1859.
Receipts-
Disbursements-
Passenger earnings
$1,052,086
Wages to employees
$106,988
Freight
"
629,226
Salaries to officials
32,399
U.S. mail
"
(in part)
4,981
Repairs, etc., of cars
67,553
Steamtowing on Del. and Rar. rivers.
87,788
"
"
of locomotives
66.312
Rents and incidental receipts
28,508
Coal and wood
158,660
Steambont expenses
163,439
Road, bridges, buildings, etc
142,798
Stations, telegraph, shops, etc
79,453
Wharves, rents, damages, int., etc
42,557
Steamtowing on Del. and Rar. rivers
11,818
Emigrant and S. & W. lines, ferriages,
U.S. mail, lateral road and other exp.
19,360
Earnings of Railroad Company
$1,802,589
Expenditures of Railroad Company
$891,337
"
of Canal Company
.......
492,198
"
of Canal Company
157,069
Transit duty on Railroad
$69,721
"
"
Canal
41,706
Div. on stock of Joint Co
24,000
Int. on Companies' bonds
4,860
Total accrued to State
140,287
Balance of earnings
$1,106,094
Total
$2,294,787
Total
$2,294,787
CASH ACCOUNT FOR THE YEAR ENDING 31sr DECEMBER, 1859.
Received.
Paid.
Gross earning of RR. and Canal
$2,294,787
Total expenses of railroad and canal. $1,048,406
Two 6p. c. divi'ds on 5,500 shares stock
66,000
Transit duties paid to State
67,296
"
"
400
"
"
4,800
Loans to Flemington RR. Company
23,000
"
"
2
"
"
24
Compromise with Ferry Company
39,500
Three dividends on telegraph stock
236
Ferry Company, Raglan case
3,355
Two (2# & 3 p. c.) div. on Mt. Holly
Loan to Ferry Company
7,419
Railroad stock
825
Two 6 per ct. dividends on RR. stock
180,000
Div. on Beaver Meadow RR. stock
100
44
"
on Canal "
275,S08
Interest from Gaw, Macalester & Co
272
Interest, $800,000 loan, 6 per cent
48,000
Interest from R. L. & E. A. Stevens
1,502
" £210,000 or $1,008,000 loan, 5 p. c
50,400
Refunded interest
720
" £225,000 or $1,080,000 loan, 6 p.o
64,800
Interest on F. & J. Agri. RR. Co.'s bds
886
"
$367,000 loan, 6 per cent
22,020
Interest from Ferry Company
8,240
" $800,000 "
"
48,000
"
$1,700,000 "
"
102,000
"
$717,000 "
"
43,020
" £185,000 or $888,000 loan, 5 p.c.
44,400
" $1,175,000 loan, 6 per cent
70,500
Balance to credit
240,468
Total
$2,378,392
Total
$2,378,392
CENTRAL RAILROAD OF NEW JERSEY.
(Financial year ending 31st December, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1860-61.
John O. Green
New York, N.Y.
Benjamin Williamson
Elizabeth, N.J.
William E. Dodge
"
"
John 0. Sterns
"
"
Adam Norrie
"
"
F. T. Frelinghuysen
Newark, "
William S. Wetmore
Newport, N.J.
Henry D. Maxwell
Easton,
"
JOHN T. JOHNSTON President
New York, N.Y.
GILBERT M. MILLIGAN, Treasurer and Secretary
"
"
JOHN O. STERNS, Superintendent and Engineer
Elizabeth City, N.J.
PRINCIPAL OFFICE
No. 69 Wall street, NEW YORK CITY, N.Y.
LENGTH OF RoAD-Elizabethport to Phillipsburg
63.80 miles.
Second track, 38.00 miles. Extra track, 48.00 miles. Sidings, etc., 10 miles.
Digitized by
Google
390
NEW JERSEY-CENTRAL
ROLLING STocK-Locomotive engines: wood, 25 ; soft coal, 2, and hard coal, 5.. 32
Cars (8-wheel) -Passenger, 21 ; baggage and mail, 7; freight-house, 68, and
platform, 100; cattle, 19 ; coal, 3
218
Cars (4-wheel) :-Caboose, 6; gravel, 42 and dirt, 10.
58
The Central Railroad Company of New Jersey is a consolidation of the Eliza-
beth and Somerville and the Somerville and Easton Companies. The Eliza-
beth and Somerville Company was chartered in 1831, and completed its road
in March, 1839. The Somerville and Easton Company was chartered in
1847, and by supplement to its charter in February, 1849, was authorized to
purchase the Elizabeth and Somerville Railroad, and to change its title to
that of Central Railroad Company of New Jersey. Under the original
charter 91 miles from Somerville to Whitehouse had already been constructed
at a cost of $236,461. In July, 1850, the two companies were consolidated,
and the construction of the extension was commenced on the 16th September
of the same year, and completed and the road opened to Phillipsburg, oppo-
site Easton, on the 2d July, 1852. In 1856 a second track was completed
from Elizabethport to Hampton, the point of junction with the Warren
(Delaware, Lackawanna and Western Railroad), 48 miles, and a third rail
laid for the wide gauge cars of that road. Extensive accommodations have
been also provided at Elizabethport for the coal trade of the two companies.
By agreement between them, the Central Company receives one cent and a
quarter per ton per mile from the Delaware, Lackawanna and Western for
the use of its road; the former furnishing motive power for the trains. The
contract is a' perpetual one, but subject to revision every five years. The
Company also has an arrangement with the Lehigh Valley Railroad Com-
pany, whereby coal is transported over it from the Lehigh mines, the two
companies sharing in expenses and profits in ratio of mileage, after allowing
26 cents per ton to the Lehigh Company for the use of its cars. From
Elizabeth to New York the cars of the Central are drawn over the road of
the New Jersey Company, at a charge of 15 cents per passenger.
SHARE CAPITAL-Authorized, $2,500,000, in 25,000 $100 shares.
Paid in full, 2,390,000, on 23,900
"
Paid in part, 22,000, on 1,100
"
FUNDED DEBT-$3,237,000 described as follows—
1st Mortgage, 7 per cent., coupon bonds
$1,500,000
-dated 1st August, 1850, and payable, principal in three series of $500,000
each-one in 10 years, one in 15 years, and one in 20 years, and coupons
semi-annually, 1st February and 1st August, at New York. The series
falling due in 1860 has been extended to 1870, and new sheets of coupons
annexed to the bonds.
2d Mortgage, 7 per cont., coupon bonds (convertible)
$1,500,000
-dated 1st May, 1855, and payable, principal in 20 years, and coupons
semi-annually, 1st May and 1st November, at New York. Since the 1st
January to the 1st May, 1860, $900,000 had been converted into stock.
Income, 7 per cent., convertible bonds
$88,000
These bonds have been converted into stock since the 1st January, 1860.
Loan at 6 per cent., (1859). }
paid since 31st December, 1859
$100,000
Wharf Loans (various dates)
1
$57,000
FLOATING DEBT-$37,761, being balances of sundry accounts.
Digitized by Google
NEW JERSEY-ELIZABETH AND SOMERVILLE.
391
Cost OF ROAD, Erc.-$5,624,608 : in detail as follows—
Graduation
$1,235,416
Station-houses, shops, and water-sta-
Masonry
419,552
tions
$131,800
Superstructure and ballast
1,582,139
Land and works at Elizabethtown
287,717
Bridges
139,990
Ferry interest and boats
246,450
Land damages
289,891
Engines
274,200
Engineering
95,258
Passenger and baggage cars
48,500
Interest
431,939
Freight cars
120,000
Discount on mortgage
225,000
Telegraph, docks, machinery, and
Miscellaneous expenses
65,711
miscellaneous property
35,144
INCOME ACCOUNT FOR THE YEAR ENDING 31sT DECEMBER, 1859.
Receipts-
Disbursements-
Passenger earnings
$187,227
Operating expenses
$89,723
Freight
"
336,634
Maintenance of road
59,157
Coal
"
432,423
Repairs of engines
25,246
Express
"
7,073
"
of cars
17,505
Mail
"
7,600
"
of buildings, etc
13,076
Rents
1,542
Expense account
21,131
Miscellaneous
203
Miscellaneous expenses
11,942
Ferry expenses
51,603
Wood consumed
77,121
Coal
"
19,211
Earnings less expenses
385,716
Total
$971,702
Total
$971,702
GENERAL LEDGER BALANCE
SHEET, 1ST JANUARY, 1860.
Dr.
Cr.
Road and appurtenances
$4,612,697
Share capital
$2,500,000
Land and work at Elizabethtown
287,717
Less 80 p. c. on 1,100
Engines and cars.
442,700
scrip shares
88,000-
2,412,000
Ferry interest and boats
246,450
Mortgage bonds
3,000,000
Telegraph, docks, machinery, etc
35,044
Income bonds, balance
88,000
Materials on hand
40,302
Loan at 6 per cent
100,000
Fuel on hand
47,472
Wharf loans.
57,000
Cash and cash items
42,679
Balance on sundry accounts
37,761
Dividend 21 p. c., payable in Jan
60,300
Total
$5,755,061
Total
$5,755,061
COST, EARNINGS, EXPENSES, ETC., YEARLY."
Cost of
Mile-
Gross Earnings
Operating Earnings,
-Div.-
Year.
Road, etc.
age.
Passengers.
Freight.
Mails,
Total.
expenses. less exp.
$
p.c
1853
$3,111,929
63.80
$173,872
163,024
12,122
$349,018
$197,629
$151,389
76,359
5
1854
3,285,499
63.80
181,318
187,688
9,139
378,145
197,349
180,796
117,173
7
1855
3,734,149
63.80
185,048
199,324
9,359
393,727
222,125
171,604
nil.
nil.
1856
5,017,634
63.80
186,780
351,881
14.817
553,478
272,337
281,141
140,000
7
1857
5,406,656
63.80
181,228
484,637
16,448
682,313
356,649
325,664
70,000
31
1858
5,433,664
63.80
171,830
649,505
15,598
836,933
345,613
491,320
200,000
10
1859
5,624,600
63.80
187,227
769,057
15,418
971,702
385,716
585,986
170,300
7f
7 Yrs
31,614,139
446.60
1,267,303
2,805,116
92,899
4,165,318
1,977,418
2,187,900
773,832
Aver.
4,516,315
63.80
181,043
400,741
13,271
595,045
282,488
312,557
110,547
54
ELIZ BETH AND SOMERVILLE RAILROAD.
The Elizabeth and Somerville Railroad Company was chartered on the 1th
February, 1839, and empowered to construct a railroad from Elizabethport
to Somerville, a distance of about 25 miles. The road was completed and
brought into use in March, 1839. Ten years later the Somerville and Easton
Railroad Company, which has been chartered to continue the line from Somer-
ville to the Delaware, purchased the property of this Company, and consoli-
dated the two interests into the Central Railroad Company of New Jersey,
(which see).
Digitized by
Google
392
NEW JERSEY-FLEMINGTON.
FLEMINGTON RAILROAD.
(Financial year ending 31st December, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
Hugh Capner
Flemington, N.J.
R. F. Stockton
Princelon, N.J.
William P. Emery
"
"
Richard Stockton
"
"
John G. Reading
"
"
E. A. Stevens
Hoboken,
"
Alexander Wurts
"
"
Benjamin Fish
Trenton,
"
CHARLES BARTLES, President
Flemington, N.J.
A. V. BONNELL, Treasurer and Secretary
"
"
ASHBEL WELCH, Superintendent and Engineer
Lambertville,
"
PRINCIPAL OFFICE
FLEMINGTON, Hunterdon Co., N.J
LENGTH OF RoAD-Flemington to Lambertville
12 miles.
Second track, none. Sidings, turnouts, &c., 11 miles.
ROLLING STOCK
Furnished by the Belvidere Delaware Company
The Flemington Railroad and Transportation Company was chartered on the
22d February, 1849, and the road completed and opened for business on the
2d December, 1854. It is operated by the Belvidere Delaware Railroad
Company under an agreement, dated 7th June, 1854, providing, among other
things, that from and after 1st Dec., 1854, the clear profits of both the com-
panies shall be divided pro rata among the stockholders of each respectively.
SHARE CAPITAL-Authorized, $200,000: paid in, $150,000 in $50 shares.
FUNDED DEBT-$92,600 described as follows-
1st Mortgage, 6 per cent., coupon bonds
$92,600
-dated 1st May, 1854, and payable, principle in 15 years, and coupons semi-
annually, 1st May and 1st November, at Flemington. Provided $100,000.
FLOATING DEBT-$78,887.
COST OF ROAD, ETC.-$284,584. No detail.
INCOME ACCOUNT FOR THE YEAR ENDING 31sT DECEMBER, 1859.
Receipts-
Disbursements-
Passenger earnings
$5,730
Operating expenses
$11,399
Freight
"
7,225
Salaries, etc
2,006
Mail
"
450
Total
$13,405
Total.
$13,405
GENERAL STATEMENT, 1ST JANUARY, 1850.
Dr.
Cr.
Cost of road
$284,584
Share capital
$150,011
Profit and Loss
36,914
Funded debt
92,600
Other indebtedness
78,887
Total
$321,498
Total
$321,498
COST, EARNINGS, EXPENSES, ETC., YEARLY
Cost of
Mile-
Gross Earnings.
Operating
Earnings,
Div
Year.
Road, etc.
age.
Pass'gers.
Freight.
Mails.
Total.
Expenses.
less exp.
$
p.c
1855
$279,220
12
$4,847
$3,894
$91
$8,832
$8,800
$32
mil.
nil.
1856
286,715
12
5,693
5,759
415
11,867
10,521
1,346
"
"
1857
288,513
12
5,816
6,479
848
13,143
10,600
2,543
11
"
1858
287,666
12
5,330
6,715
1,098
13,143
11,739
1,404
"
"
1859
2S4,584
12
5,730
7,225
450
13,405
12,649
756
"
"
5 yrs.
1,426,698
60
27,416
30,072
2,902
60,390
54,309
6,081
"
&
Aver..
285,339
12
5,483
6,014
580
12,075
10,862
1,216
"
64
Digitized by
Google
NEW JERSEY-MILLSTONE AND NEW BRUNSWICK.
393
FREEHOLD AND JAMESBURG AGRICULTURAL RAILROAD.
(Financial year ending 31st December, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1860.
Edwin J. Stevens,
Robert F. Stockton,
I
James Buckelew,
Daniel H. Ellis,
John R. Thompson,
Richard Stockton,
Joseph Combs,
Aaron Gulick.
WILLIAM D. Davis, President
Freehold, N.J.
ISAAC S. BUCKELEW, Treasurer and Superintendent
Jamesburg, "
PRINCIPAL OFFICE
JAMESBURG, Middlesex Co., N.J.
LENGTH OF RoAD-Jamesburg to Freehold
11.50 miles.
Sidings, turnouts and other track, about 0.50 mile.
ROLLING STOcK-Locomotive engines.
2
Cars :-Passenger, 3; baggage, 1; freight, 9; marl, 19.
32
The Freehold and Jamesburg Agricultural Railroad Company was chartered in
1851, and an act was passed in 1852 authorizing the Camden and Amboy
Railroad Company to subscribe $100,000 to the share capital of the com-
pany. The work of construction was commenced on the 19th October, 1852,
and the road completed and opened for public use on the 18th' July, 1853.
SHARE CAPITAL-Authorized, $300,000, in 6,000 $50 shares.
Paid in, - $173,225 on 4,000 "
FUNDED DEBT
None.
FLOATING DEBT
None.
INCOME ACCOUNT FOR THE YEAR ENDING 31sT DECEMBER, 1859.
Receipts-
Disbursements-
Passenger earnings
$13,979
Operating expenses
$18,616
Freight
"
22,622
Interest paid
626
Mail service
286
Surplus income.
17,645
8
Total
$36,887
Total
$36,887
COST, EARNINGS, EXPENSES, ETc., YEARLY.
Cost
Mile-
Gross Earnings
Operating
Earnings,
-Div.-
Year. of Road.
age.
Pass'gers.
Freight. Mails, etc.
Total.
Expenses.
less exp.
$
P c.
1854
$163,744
11.50
$12,381
$10,831
$23,212
$19,931
$6,281
nil.
nil.
1855 218,783
11.50
13,189
20,422
33.611
19,505
14,106
"
"
1856
218.505
11.50
13,576
22,194
300
36,070
21,531
14,539
"
"
1857
220,666
11.50
14,651
26,512
552
41,715
20,271
21,444
39,102
30
1858
220,666
11.50
15,232
20,666
572
36,470
18,587
17,883
nil.
nil.
1859
221,877
11.50
13,979
22,622
286
36,887
18,616
18,271
"
"
6 yrs. 1,264,241
69.00
83,008
123,247
1,710
207,965
118,441
89,524
"
"
Aver. 210,707
11.50
13,834
20,541
285
34,660
19,740
14,920
"
"
MILLSTONE AND NEW BRUNSWICK RAILROAD.
(Financial year ending 31st December, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
Joseph Olcott,
A. J. Voorhees,
John S. Darcy,
Joseph Howell,
John Acker,
John P. Jackson.
ISAAC R. CORNELL, President
New Brunswick, N.J.
PRINCIPAL OFFICE
NEW BRUNSWICK, N.J.
LENGTH OF ROAD-New Brunswick to Millstone
6.62 miles.
The Millstone and New Brunswick Railroad Company was chartered in 1836.
50
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394
NEW JERSEY-MORRIS AND ESSEX.
The road was completed and opened for public use on the 21st December,
1854. One half of the share capital is owned by the New Jersey Railroad
Company, which furnishes motive power and rolling stock, this Company
paying for the use of the same an amount equal to 64 per cent. on its cost.
SHARE CAPITAL-Authorized, $150,000, in $1,500 $100 shares.
Paid in, - $102,365 on
"
FUNDED DEBT
None. FLOATING DEBT
$8,849.
COST OF ROAD AND EQUIPMENT-$111,114. (No details.)
INCOME ACCOUNT FOR THE YEAR ENDING 31sT DECEMBER, 1859.
Receipts--
Disbursements-
Passenger earnings
$3,061
Operating expenses
$4,631
Freight
"
5,186
Surplus income
3,616
Total
$8,247
Total
$8,247
COST, EARNINGS, EXPENSES, ETc., YEARLY.
Cost.
Mile-
Gross Earnings
Operating
Earnings,
-Div.-
Year.
of Road.
age.
Pass'gers.
Freight.
Total.
Expenses.
less exp.
8
p.c
1855
$111,000
6.63
$3,762
$6,056
$9,818
$5,661
$4,157
nil.
nil
1856
111,114
6.63
3.962
5,683
9,645
6,380
3,265
"
"
1857
111,114
6.63
3,432
5,568
9,000
5,852
3,148
"
"
1858
111,114
6.63
2,860
5,010
7,870
4,676
3,294
"
"
1859
111,114
6.63
3,061
5,185
8,246
4,630
3,616
44
"
5 years
555,456
33.15
17,077
27,502
44,579
27,099
17,480
"
"
Average
111,091
6.63
3,415
5,500
8,916
5,419
3,496
3
"
MORRIS AND ESSEX RAILROAD.
(Financial year ending 31st December, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
Joel W. Condit (V. Pres.)
Newark,
N.J.
Daniel Babbit
Orange, N.J.
Jeremiah C. Garthwaite
"
"
Aaron Robertson
Hackettstown,
"
Beach Vanderpool
"
"
Robert Hamilton
Newton,
"
William N. Wood
Morristown,
"
Joseph P. Bradley Newark
"
WILLIAM WRIGHT, President
Newark, N.J.
ISAAC VAN WAGENEN, Treasurer
"
"
J. B. BASSINGER, Superintendent and Chief Engineer
"
"
PRINCIPAL OFFICE
NEWARK, Essex Co., N.J.
LENGTH OF RoAD-Newark to Hackettstown
52.52 miles
Second track, including sidings, turnouts, etc., about 7 miles.
ROLLING STOCK-Locomotive engines
11
Cars :-Passenger, 17 ; baggage, mail and express, 5, freight, etc., 86 106
The Morris and Essex Railroad Company was chartered the 29th January,
1835, with authority to construct a road from Newark to the Delaware River
at Easton. The work of construction was commenced in the fall of 1835,
and the road opened to Morristown, 23 miles, in 1837 to Dover, 34 miles,
in 1848, and to its present terminus, 53 miles, in January, 1854. The
extension of the road to Easton, 261 miles, has been commenced and it is
also proposed to construct a line from Newark to the Hudson River, at
Hoboken. It is also proposed to build a branch of this road from Dover
to Belvidere, or to the Delaware Water Gap, there to connect with the
Digitized by Google
NEW JERSEY-MORRIS AND ESSEX.
395
Delaware, Lackawanna and Western Railroad. Between Newark and Jer-
sey City the passenger cars of the Morris and Essex Company are drawn
over the road of the New Jersey Company, under an agreement entered
into on the 13th October, 1853, to continue 10 years, whereby the latter
agreed to pay the former five cents per passenger for the use of its cars.
Merchandise is carried in the cars of the New Jersey Company, which pays
to the Morris and Essex Company for all received or delivered on its road a
bonus of five per cent. The relations of the Morris and Essex Company with
the Newark and Bloomfield Company are as follows: the latter use the
track of the former between Newark and Bloomfield Junction, paying
therefor an annual rental of $1,550, and for repairs of track 13 cents per
mile run by trains.
Although the Morris and Essex Railroad was opened in 1837, no accounts
of its operations are obtainable previous to 1853, when reports were first
made in obedience to the laws of the State. An application for a statement
of its affairs, and of its earnings, expenses and dividends, previous to that
time was refused. The only information annually communicated is such
as is reluctantly and sparingly drawn out by legislative enactments.
In 1842 the road was sold by its creditors for about $200,000, subject to
a lien in favor of the State for $30,000. In 1845 dividends were first paid,
since which year 27 cash dividends ranging from 6 to 7 and 8 per cent. have
been paid; and in addition three dividends in stock of 331, 25 and 10 per
cent. each.
SHARE CAPITAL-Authorized, $3,500,000, in 70,000 $50 shares.
Paid in, - $1,157,800, in 23,156
"
FUNDED DEBT-$240,000 described as follows—
1st Mortgage, 7 per cent., coupon bonds
$300,000
-dated in 1853, and payable, principal in 1864, and coupons semi-annually,
1st January and 1st July, at the Newark Banking Company's office, Newark.
2d Mortgage, 7 per cent., coupon bonds
$10,000
-dated in 1855, and payable, principal in 1870, and coupons semi-annually,
1st April and 1st October, at same place.
School Fund, 6 per cent. loan (payable on call)
$30,000
FLOATING DEBT-None.
COST OF ROAD AND EQUIPMENT-$1,622,556. No detail.
INCOME ACCOUNT FOR THE YEAR ENDING 31sT DECEMBER, 1859.
Receipts-
Disbursements-
Passenger earnings
$146,588
Operating expenses
$147,915
Freight
"
100,204
Interest on debt
22,749
Mails and sundries
8,444
Dividends
75,257
Surplus income
9,315
Total
255,236
Total
255,236
GENERAL STATEMENT, 1ST JANUARY, 1860.
Dr.
Cr.
Road and equipment
$1,622,556
Share capital
$1,157,800
Shares of Newark & Bloomfield Co
55,000
Funded debt
340,000
Shares of Telegraph Co
2,000
Contingent fund, being surplus income
268,435
Wood on hand, paid for
4,500
Cash and cash items
82,179
Total
$1,766,235
Total
$1,766,235
Digitized by
Google
396
NEW JERSEY-NEW JERSEY.
Cost OF EARNINGS, EXPENSES, ETc., YEARLY.
Cost of
Mile-
Gross Earnings
Operating
Net
Div
Year.
Road, &c.
age.
Pass'gers.
Freight.
Mails.
Total.
expenses.
earnings.
Am't
P. c.
1853
$1,291,795
34 02
$108,886
$63,355
$3,965
$176,205
$83,575
$92,631
$59,189
7
1854
1,549,622
52.52
141,456
87,757
4,412
233,595
123,861
109,734
68,685
7
1855
1,636,550
52.52
135,127
84,952
5,814
225,893
123,419
102,474
73,580
?
1856
1,652,928
52.52
142,155
93,391
10,040
245,586
133,860
111,726
43,572
4
1857
1,600,809
52.52
140,685
97,311
7,805
245,801
149,019
96,782
40,523
31
1858
1,610,294
52.52
134,024
90,026
7,173
231,223
136,703
94,520
nil.
nil.
1859
1,622,556
52.52
146,588
100,204
8,444
255,236
147,915
107,321
75,257
7
7 Y'rs
10,964,504
349.14
948,921
616,966
47,653
1,613,540
898,352
715,188
360,816
Aver.
1,566,358
49.88
135,560
88,138
6,808
230,505
128,336
102,169
51,545
5
MILLVILLE AND GLASSBORO' RAILROAD.
The Millville and Glassboro' Railroad Company was chartered on the 9th
March, 1859, and completed the road which extends between the two places
named, in April, 1860. This company now proposes to construct (under an
act passed 7th March, 1860,) that section of the West Jersey Railroad south-
ward from Millville to Cape Island, and complete it within one year from the
date of any contract that may he entered into for the said purpose.
NEW JERSEY RAILROAD.
(Financial year ending 31st December, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
William Whitney
New York, N.Y.
J. J. Chetwood
Elizabeth, N.J.
John P. Jackson
Newark, N.J.
A. O. Zabriskie
Jersey City, "
John Acken
New Brunswick, "
H. R. Remsen
New York, "
D. S. Gregory
Jersey City,
"
Hamilton Fish
"
"
JOHN S. DARCY, President
Newark, N.J.
H. J. SOUTHMAYD, Treasurer
New York, N.Y.
JOHN P. JACKSON, Vice-President and Superintendent
Newark, N.J.
F. WOLCOTT JACKSON, Secretary
"
"
PRINCIPAL OFFICE
Merchants' Exchange, NEW YORK CITY, N.Y.
LENGTH OF ROAD-Jersey City to New Brunswick
33.80 miles.
Second track, 33.80 miles.
ROLLING STOCK-Locomotive engines
21
Cars :-Passenger, 92; mail, baggage, freight and other, 111
201
The New Jersey Railroad and Transportation Company was incorporated on
the 7th March, 1832, and organized on the 4th June following. The work
of construction was commenced in 1833, and the road opened for public use
from Jersey City to Newark on the 15th September, 1834; from Newark to
Elizabethtown in 1835; and from Elizabethtown to Rahway and to East
New Brunswick in 1836. The viaduct at New Brunswick was completed
on the 28th October, 1837, and the cut through Bergen Ridge in 1838.
The entire line to Philadelphia, in connection with the Camden and Amboy
Railroad, was opened on the 1st January, 1839. The whole cost of the
road to this date was $1,951,638, while the original estimate of 1st May,
1833, was only $860,236. The road has since been entirely relaid. In
1853, '54, '55 and '56 a second track was added, and for the several past
years extensive improvements have been made, especially at Newark and
Jersey City. At the former place a connection was made in 1855 with the
Digitized by
Google
NEW JERSEY-NEW JERSEY.
397
Morris and Essex Railroad, at a cost of $350,000, and at the latter a new
depot, 500 feet long and 103 feet wide and 43 feet high, containing also the
company's offices, has been erected. This was completed and opened for use
on the 9th June, 1857. In addition to the road and its appurtenances, the
Company owns the ferry to New York, purchased in 1853 of the Jersey
Associates for $485,000, and a large property in real estate, etc., etc., valued
at $1,249,839.
The Company pays to the State a tax of one-half of one per cent. on its
share capital, and a transit duty on through passengers of 8 per cent. of the
receipts; and on through freight of 12 cents per ton. The total amount paid
on these accounts from 1839 to the end of 1859, twenty-one years, has been
$437,999, or on an average of more than $20,000 a year.
The New Jersey Railroad forms a part of the line between New York and
Philadelphia, and has a contract with the Camden and Amboy Railroad Com-
pany, terminating in 1869, whereby the latter receives one-sixth of the
receipts from through passengers. The company have also a contract with the
Morris and Essex Railroad, (which see,) for the use of its road between
Newark and Jersey City; also, with the New York and Erie Railroad
Company, (which see,) for the use of its road through the Bergen Cut.
SHARE CAPITAL-Authorized by charter, $1,500,000, in 30,000 $50 shares.
special laws, $2,500,000, in 50,0000
"
Total authorized
$4,000,000, in 80,000
"
.
-
-
-
Total paid in 31st December, 1859
-
$3,749,000, on 74,980
"
FUNDED DEBT-Amount, $688,000 classified as follows—
Six per cent. bonds
$485,000
-dated 1st August, 1853, and payable, principal 1st August, 1863, and
interest semi-annually, 1st February and 1st August, at New York. These
bonds were issued for the purchase of the property and franchise of the
ferry from Jersey City to New York.
State Loan, 6 per cent
$100,000
-dated 1833 and payable, principal on call, and interest semi-annually.
Seven per cent. Loan
$89,000
-dated 1st May, 1856, and payable, principal in 10 years, and interest
semi-annually, 1st May and 1st November, at the Company's office.
Six per cent Loan
$14,000
FLOATING DEBT-None.
INCOME ACCOUNT FOR THE YEAR ENDING 31sr DECEMBER, 1859.
Receipts-
Disbursements-
Passenger earnings
$729,181
Maintenance of road, etc
$65,038
Freight
"
90,081
Repairs of rolling stock
42,727
Mails, express, freights, rents, and all
Fuel and labor
66,144
other sources
206,420
Operating expenses
197,053
Salaries, office expenses, etc.
11,110
Interest on bonds
41,505
Transit duty on passengers and freight
17,077
Tax on share capital
18,745
Dividends, August, '59, and Febr'y, '60
374,900
Surplus earnings
191,383
Total
$1,025,683
Total
$1,025,683
Digitized by Google
398
NEW JERSEY-NEWARK AND BLOOMFIELD.
GENERAL LEDGER BALANCE SHEET, 1ST JANUARY, 1860.
Dr.
Cr.
Cost of rond, etc
$3,374.910
Share capital
$3,749,000
"
locomotives, etc
142,780
Funded debt
688,000
"
cars
200,195
Profit and loss, being surplus
Bridge, ferry, turnpike, and other
earnings expended in the
stocks; real estate, ferry bonts,
construction of the road,
privileges and fixtures, including
and payment of property,
the property and privileges pur-
etc
$527,926
chased of the Jersey Associates for
Less paid for relaying road,
$485,000
1,249,839
$10,500 and damages to
Cash in bank and cash items on demand
156,945
steamer, $17,207
27,707-500,219
Dividend, 1st February, 1860
187,450
Total
$5,124,669
Total
$5,124,669
Statement showing the application of the Net Earnings of the Company :
Receipts from earnings since the first opening of the road to the 31st Dec., 1859
$12,277,483
Total expenses for repairing and operating railroad and rolling stock $5,548,742
Additional expenses, including re-laying track and new rails, additions
to viaducts and damage to ferry boat by fire
146,871-
5,695,613
Net earnings applicable to dividends and interest
$6,581,870
Dividends
$4,907,289
Less on reserved stock held by company
160,330-$4,746,959
Transit dues, tax on capital and interest on debt
1,334,692-
$6,081,651
General balance, or surplus earnings expended in construction, etc
$500,219
COST,
EARNINGS,
EXPENSES,
ETc., YEARLY.
Cost of Road,
Mile-
Gross
Operating
Earnings,
Tax, transit
-Dividend-
Year.
equip't, etc.
age.
Earnings.
Expenses.
less exp.
duty & int.
Am't.
p.c.
1835
$625,000
8.25
$67,598
$21,678
$45,920
$34,817
6
1836
1,125,000
30.50
134,037
75,484
58,553
57,500
6
1837
1,500,000
30.50
140,082
99,092
40,990
45,000
3
1838
1,700,000
30.50
110,997
78,086
32,911
105,000
6
1839
1,900,000
33.80
251,785
127,464
124,321
37,255
60,000
3
1840
2,000,000
33.80
226,244
139,818
86,426
66,779
60,000
3
1841
2,100,000
33.80
271,113
142,998
128,115
70,467
60,000
3
1842
2,100,000
33.80
269,864
163,370
106,493
69,782
60,000
3
1843
2,200,000
33.80
291,586
126,799
164,787
55,283
120,000
6
1844
2,200,000
38.90
365,837
182,446
183,391
60,930
120,000
6
1845
2,300,000
38.90
397,068
234,846
162,122
67,012
130,000
61
1846
2,300,000
38.90
419.780
230,479
189,301
51,835
140,000
7
1847
2,400,000
38.90
470,729
224,352
246,376
59,635
150,000
71
1848
2,600,000
38.90
439,098
219,585
219,513
60,150
160,000
8
1849
2,700,000
38.90
469,349
187,311
282,038
57,122
160,000
8
1850
2,800,000
38.90
522,131
185,671
336,460
56,165
180,000
9
1851
2,900,000
38.90
578,644
248,686
329,918
56,120
200,000
10
1852
3,099,000
38.90
603,942
287,682
316,260
56,008
209,892
10
1853
3,692,000
38 90
810,635
319,517
491,118
55,543
497,417
20
1854
4,208,000
38.90
824.033
383,585
440,448
70,109
575,126
20
1855
4,309,000
38.90
861,514
360,766
500,748
74,031
348,237
10
1856
4,482,000
38.90
910,638
400,716
509,922
76,494
348,470
10
1857
4,690,000
38.90
911,617
376,866
534,751
79,091
348,480
10
1858
4,787,000
38.90
903,458
349,371
554,087
77,654
362,450
10
1859
4,968,000
38 90
1,025,683
382,072
643,611
77,327
374,900
10
25 yrs.
$69,685,000
891.15
$12,277,483
$5,548,742
$6,728,741
$1,334,692
$4,907,289
Aver
2,787,400
35.64
491,099
221,950
269,149
53,387
196,291
8
NEWARK AND BLOOMFIELD RAILROAD.
(Financial year ending 31st December, 1859.)
IRA DODD, President
Bloomfield, N.J.
J. B. BASSINGER, Superintendent
Newark, "
PRINCIPAL OFFICE
NEWARK, Essex Co., N.J.
Digitized by Google
NEW JERSEY--NORTHERN.
399
LENGTH OF Road-West Bloomfield to Newark Junction
6.00 miles.
The Newark and Bloomfield Railroad Company was chartered on the 26th
March, 1852, and the road completed and brought into use from Newark to
Bloomfield, 20th December, 1855, and to West Bloomfield 1st July, 1856.
The trains of this Company run over the Morris and Essex Railroad between
the junction and Newark, and pay for the privilege $1,550 a year, and for
repairs of track thirteen cents per mile run by locomotives. It is designed
to extend the line north to Paterson about 8 miles further.
SHARE CAPITAL-Authorized, $250,000, in 5,000 $50 shares.
Paid in, - 103,950 on 2,079
"
FUNDED DEBT
None.
FLOATING DEBT
None.
COST OF ROAD AND APPURTENANCES-$105,206. No detail.
INCOME ACCOUNT FOR THE YEAR ENDING 31sT DECEMBER, 1859.
Receipts-
Disbursements-
Gross Earnings
$17,042
Repairs and operating expenses
$10,795
Dividend
2,673
Surplus undivided
3,574
Total
$17,042
Total
$17,042
Cost, EARNINGS, EXPENSES, ETC., YEARLY.
Cost
Miles
Gross
Operating
Earnings,
-Dividend-
Year.
of Road, etc.
of Road.
Earnings.
Expenses.
less exp.
Amount. P. c
1856
$98,437
6
$13,310
$12,248
$1,062
nil.
nil
1857
101,382
6
14,247
14,137
110
"
"
1858
101,627
6
12,346
10,400
1,946
"
"
1859
105,206
6
17,042
10,795
6,247
2,673
21
-
4 years
406,652
24
56,945
47,580
9,365
2,673
"
Average
101,663
6
14,236
11,895
2,341
668
0.6
NORTHERN RAILROAD.
(Financial year ending 31st December, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
THOMAS H. HERRING, President
Jersey City, N.J.
PRINCIPAL OFFICE
JERSEY CITY, Hudson Co., N.J.
LENGTH OF RoAD-Bergen Junction to Piermont
21.27 miles.
Sidings, turnouts, etc., 1 20 miles.
ROLLING STocK-Locomotive engines
2
Cars:-Passenger, 6; freight and others, 17
23
The Northern Railroad Company was chartered on the 9th February, 1854.
The construction of the road was commenced in 1857, and completed on
the 1st October, 1859. Its line extends almost parallel with the Hudson
River west of the highlands, and connects at Piermont with the Erie Rail-
road, over which the trains of the former are run to Sufferns Station. It
uses the New Jersey Railroad to get into Jersey City. No statement of
earnings have yet been given.
Digitized by
Google
400
NEW JERSEY-PATERSON AND RAMAPO.
SHARE CAPITAL-Authorized, $400,000, in 4,000 $100 shares.
Paid in, - 154,157, on 1,806
"
FUNDED DEBT-$188,700 described as follows-
1st Mortgage, 7 per cent., coupon bonds
$188,700
-dated 1st July, 1858, and payable in 20 years, and interest semi-annually,
1st January and 1st July, at New York. Provision was made in this mort-
gage for an issue of bonds to the amount of $200,000.
FLOATING DEBT-About $25,000.
Cost OF ROAD AND EQUIPMENT-$365,344.
PATERSON AND HUDSON RAILROAD.
(Financial year ending 31st December, 1859.)
ROBERT BAYARD, President
New York City, N.Y.
PRINCIPAL OFFICE
NEW YORK CITY, New York Co., N.Y.
LENGTH OF ROAD-Jersey City to Paterson
14 miles.
Second track, 14 miles. Sidings, etc., 1.5 miles.
The Paterson and Hudson Railroad Company was chartered in the year 1832,
and the road was completed and opened for business in 1834. It now forms
a section of the New York and Erie Railroad, having been leased to that
Company on the 9th September, 1852, for the period embraced in its charter
-the said Company agreeing to keep it in repair and pay to the Paterson
and Hudson Company an annual rent of $53,400 for the use thereof.
SHARE CAPITAL-$630,000. (All paid in.)
CosT OF ROAD AND APPURTENANCEs-$630,000. (No detail.)
Cost OF ROAD, EARNINGS, EXPENSES, ETc., YEARLY
Cost of
Miles of
Rent from N.Y.
-Dividend-
Years.
Road, etc.
Road.
& Erie Co.
$
p.c.
1852-3
$630,000
14.00
$53,400
nil.
nil
1853-4
630,000
14.00
53,400
22,050
31
1854-5
630,000
14.00
53,400
15,750
21
1855-6
630,000
14.00
53,400
50,400
8
1856-7
630,000
14.00
53,400
53,550
81
1857-8
630,000
14.00
53,400
50,400
8
1858-9
630,000
14.00
53,400
50,400
8
7 years
$4,410,000
98.00
373,800
242,550
Average
630,000
14.00
53,400
34,650
51
PATERSON AND RAMAPO RAILROAD.
(Financial year ending 31st December, 1859.)
ROBERT BAYARD, President
New York City, N.Y.
PRINCIPAL OFFICE
NEW YORK City, New York Co., N.Y.
LENGTH OF RoAD-Paterson to Ramapo (New York State line)
15.12 miles.
Second track, including sidings, etc., 1.5 mile.
The Paterson and Ramapo Railroad Company was chartered 10th March, 1841,
and the road completed and opened for business in the year 1848. It now
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NEW JERSEY-PERTH AMBOY.
401
forms a section of the New York and Erie Railroad, being leased in per-
petuity to that Company at an annual rent of $26,500, payable semi-annually,
1st January and 1st July. The latter keeps the road in repair, and furnishes
all the motive power, etc. Date of lease 9th September, 1852.
SHARE CAPITAL-Authorized, $250,000, in 2,500 $100 shares.
Paid in, - $248,225, on 2,500
"
FUNDED DEBT-$100,000 described as follows-
1st Mortgage, 6 per cent., coupon bonds
$100,000
-dated 1st November, 1858, and payable, principal in 10 years, and coupons
semi-annually, 1st November and 1st May, at New York. These bonds were
issued to retire a like amount of bonds which became due in 1858, and are
secured by the original mortgage, dated 1st October, 1848, legislative
authority having been obtained for the same.
Cost OF ROAD, KTc.-$350,000. (No detail.)
INCOME ACCOUNT FOR THE YEAR ENDING 30TH SEPTEMBER, 1859.
Receipts-
Disbursements-
Rent from N. Y. and Erie RR. Co
$26,500
Discount on 100 new bonds, sold at 85 p. c. $15,000
Interest
"
"
117
Five bonds redeemed at 90 p. c
4,500
Deficit
374
Interest on bonds
5,312
Contingencies, taxes, etc
2,179
Total
$26,991
Total
$26,991
GENERAL STATEMENT, 1ST OCTOBER, 1859.
Dr.
Cr.
Cost of road, etc
$350,000
Share capital
$248,225
Five bonds of Company
5,000
Funded debt
100,000
Other liabilities
256
Profit and loss
6,519
Total
$355,000
Total
$355,000
CosT, EARNINGS, EXPENSES, ETC., YEARLY.
Cost
Miles
Rent
Incidental
Revenue
Year
of
of
from N. Y.
expenses &
applicable to
-Dividend-
Road, etc.
Road.
& Erie Co.
taxes, etc.
int. & div.
Amount.
p.c.
1853
$350,000
15.12
$26,500
$6,285
$20,215
$7,440
3
1854
350,000
15.12
26,500
3,420
23,080
14,880
6
1855
350,000
15.12
26,500
2,783
23,717
14,880
6
1856
350,000
15.12
26,500
2,835
23,665
17.360
7
1857
350,000
15.12
26,500
3,413
23,087
17,360
7
1858
350,000
15.12
26,500
5,384
21,116
13,392
51
1859
350,000
15.12
26,500
2,177
14,323
nil.
nil.
7 years
2,450,000
105.84
185,500
26,297
159,203
85,312
Average
350,000
15.12
26,500
3,757
22,743
12,187
5
PERTH AMBOY, WOODBRIDGE AND RAHWAY RAILROAD.
LENGTH OF Road-Perth Amboy to Rahway
6.50 miles.
The Perth Amboy, Woodbridge and Rahway Company was chartered 15th
March, 1859, with authority to construct a railroad from Perth Amboy on
Raritan Bay to a junction with the New Jersey Railroad at Rahway. The
road will probably be built by or under the auspices of the New Jersey Co.
51
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402
NEW JERSEY-SOMERVILIVE AND EASTON.
RARITAN AND DELAWARE BAY RAILROAD.
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
B. F. Randolph
Freehold, N.J.
Amory Edwards
Shrewsbury, N.J
Joseph Porter
Waterford, "
Thos. B. Richards
Basto, "
Robert Campbell
New York, N.Y.
Edmund Taylor
May's Landing, "
H. H. Elliott
"
"
Wm. Torrey
New York, N.Y.
Riley A. Brick
"
"
John Brodhead
Philadelphia, Pa.
H. M. Alexander
"
"
Richard Jones
"
"
F. B. CHETWORD, President
Elizabethtown, N.J.
ROBERT CAMPBELL, Treasurer
New York, N.Y.
PRINCIPAL OFFICE
NEW YORK CITY, N.Y.
LENGTH OF ROUTE-Port Monmouth to Cape Island
125 miles.
ROLLING STOcK-Locomotive engines
3
Cars :-Passenger and freight
36
The Raritan and Delaware Bay Railroad Company was chartered on the 3d
of March, 1854, with authority to construct a railroad from some point on
Raritan Bay, and through the counties of Atlantic and Cape May to Cape
Island, near the outlet of Delaware Bay. The work of construction was
commenced in 1858, and seven miles of the line from Port Monmouth was
opened on the 7th January, 1860. It is to be extended to Eatontown, 10
miles, and thence by a branch of five miles to Long Branch by the 1st July
next. The road for entire length is under contract.
SHARE CAPITAL-Authorized, $4,000,000, in 40,000 $100 shares.
Paid in, - $100,000.
FUNDED Девт—$150,000: in detail as follows—
1st Mortgage, 7 per cent., coupon bonds
$150,000
-dated 2d August, 1858, and payable, principal in 30 years from date, and
interest on the 1st March and 1st September, in New York. The whole
amount provided for under this mortgage, which is a lien upon 68 miles of
road extending south from Raritan Bay, is $1,000,000. Of this amount
only $500,000 can be issued on the first section of 34 miles. The balance
of the bonds is to be applied to the construction of the next section of 34
miles. For the retirement of these bonds, a sinking fund is to be provided
by setting apart from earnings one per cent. of their amount annually, which
is to be used in the purchase of the bonds at or below par, or in case they
are selling above par, they are to be drawn by lot and cancelled.
No detail has yet been given of the cost of the road and equipment.
The 22 miles to Long Branch are estimated to cost $300,000.
No financial statement has been published by the Company. The road
is at present run by the contractors.
SOMERVILLE AND EASTON RAILROAD.
(Now a part of the Central Railroad of New Jersey..
The Somerville and Easton Railroad Company was chartered on the 26th
February, 1847, and was empowered by a supplementary act passed on the
11th February, 1849, to purchase the Elizabeth and Somerville Railroad.
The latter act also authorized the joint Companies to take the name of
Central Railroad Company of New Jersey. In July, 1850, the two Com-
panies were consolidated.-(See Central Railroad.)
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NEW JERSEY-SUSSEX.
403
SUSSEX RAILROAD.
(Financial year ending 31st December, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1860-61
Aaron Peck
Orange, N.J.
George M. Ryerson
Newton, N.J.
E. C. Moore
Newton,
"
John Lynn
"
"
John McCarter, Jr
"
"
J. R. Stewart
"
"
Martin Ryerson
"
"
Thomas McCarter
"
"
John Rutherford
Hudson Co,
"
S.F. Smith
Waterloo,
"
AARON PECK, President and Superintendent
Orange, N.J.
DAVID THOMPSON, Treasurer
Newton, "
GEORGE H. NELDER, Secretary
"
"
PRINCIPAL OFFICE
NEWTON, Sussex Co., N.J.
LENGTH OF Road-Waterloo to Newton
12 miles.
The Sussex Railroad Company was chartered on the 5th February, 1853, and
the road was completed on the 11th, December, 1854. It is chiefly used for
the transportation of iron and zinc ores.
SHARE CAPITAL-Authorized, $200,000, and paid in, $180,146.
FUNDED DEBT-$200,000; described as follows—
1st Mortgage, 6 per cent. bonds
$150,000
-dated 1st December, 1853, and payable, principal on the 1st April, 1873,
and interest semi-annually, 1st April and 1st October, at New York.
2d Mortgage, 7 per cent., bonds
$50,000
-dated 1st January, 1858, and payable, principal on 1st January, 1871,
and interest semi-annually, 1st January and 1st July, in New York.
FLOATING Дввт—$9,957.
COST OF ROAD AND EQUIPMENT-$390,103. (No detail.)
INCOME ACCOUNT FOR THE YEAR ENDING 31st DECEMBER, 1859.
Receipts-
Disbursements-
Passenger and freight earnings
$33,511
Operating expenses
$12,346
Mail service
550
Repairs and new rolling stock
13,203
Deficit
1,744
Interest on bonds
10,256
Total
$35,805
Total
$35,805
GENERAL STATEMENT, 1ST January, 1860.
Dr.
Cr.
Cost of road and equipment
$390,103
Share capital
$180,146
Funded debt
200,000
Floating debt
9,957
Total
$390,103
Total
$390,103
COST, EARNINGS, EXPENSES, ETC., YEARLY.
Cost of Road
Miles of
Operating
Earnings,
-Div.-
Year.
& equipment.
Road.
Total.
expenses.
less exp.
$
p.c
1855
$352,464
12.00
$27,969
$29,891
(Loss.)
nil.
nil.
1856
355,164
12.00
29,579
19,935
9,644
"
"
1857
357,079
12.00
30,290
17,939
12,351
"
"
1858
375,746
12.00
30,941
21,812
9,129
"
"
1859
390,103
12.00
34,061
25,549
8,512
"
"
5 years
1,830,556
60.00
152,840
115,126
37,714
"
"
Average
366,111
12.00
30,568
23,025
7,543
"
"
Digitized by
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404
NEW JERSEY-WARREN.
WARREN RAILROAD.
(Financial year ending 31st December, 1859.)
JOHN J. BLAIR, President
Blairstown, N.J.
PRINCIPAL OFFICE
NEW YORK CITY, N.Y.
LENGTH OF RoAD-Bridgeville to Clarkesville Junction
21.04 miles
Second track, including sidings, etc., 21 miles.
'OLLING STOCK-Supplied by Delaware, Lackawanna and Western Railroad Co.
The Warren Railroad Company was chartered on the 12th February, 1851.
Construction was commenced in 1855, and the road opened in June, 1856.
)n the 27th January, 1854, an agreement was made with the Delaware,
Lackawanna and Western Company, and the Central Company of New
Jersey, whereby the former agreed to subscribe $150,000 to its share capital
and guarantee $300,000 of its bonds, and the latter to subscribe the same
amount of stock and to guarantee $250,000 of its bonds. These sums, with
the amount of stock taken by contractors and others, constituted the means
of building the road. As it was designed to form a part of the line of
the Delaware, Lackawanna and Western Railroad, that Company agreed
to take a perpetual lease of it, paying therefor 7 per cent. annually,
on its cost. The balance of the means necessary for its construction was
raised chiefly through sales of stock, which has' been increased to
$1,024,600. In 1857 the Delaware, Lackawanna and Western Company be-
came embarrassed and unable to pay the stipulated rent. By way of com-
promise, the holders of the stock agreed to reduce the rate of interest to be
paid in future from 7 to 54 per cent. For the past year, however, the Com-
pany paid six per cent. on the stock, and it proposes, should its income
warrant it, to pay the rate originally agreed upon. The road is an expensive
one, and a long tunnel is still in process of construction. This when com-
pleted will shorten the road 2.27 miles, and reduce the grade to the minimum
on the Central Railroad, that is 21 feet to the mile.
SHARE CAPITAL-Authorized, $1,250,000, in $25,000 $50 shares.
Paid in, - $1,024,600 on $20,492
"
FUNDED DEBT-$600,000 : described as follows—
1st Mortgage, 7 per cent., coupon bonds
$600,000
-dated 1st August, 1855, and payable, principal in 20 years, and coupons
semi-annually, 1st February and 1st August, at New York. Guaranteed by
the Delaware, Lackawanna and Western Company, and the Central New
Jersey Company.
FLOATING DEBT-None.
CosT OF ROAD AND EQUIPMENT-$1,635,313. No detail; but including large
payments on account of the tunnel works.
INCOME ACCOUNT FOR THE YEAR ENDING 31st DECEMBER, 1859.
Receipts-
Disbursements-
assenger
$14,448
Operating and repairs (551 per cent.) $115,877
Coal and merchandise freight
193,911
Interest on bonds
42,000
'ails
1,260
Dividend on $968,900, 21 per cent
24,433
iscellaneous
1,066
"
$996,000, : 21
"
26,145
Surplus income
2,230
Total
$210,685
Total
$210,685
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NEW JERSEY-WEST JERSEY.
405
COST, EARNINGS, EXPENSES, ETc., YEARLY.
Cost
Mile-
Gross Earnings
Operating
Earnings,
Div
Year. of Road.
age.
Pass'ger.
Freight. Mail, etc. Total.
Expenses.
less exp.
s
p.c.
1856-$1,413,585
18.77
$10,006
$68,818
$803
$79,627
$47,776
$31,851
nil.
nil.
1857. 1,519,400
18.77
15,987
143,714
2,564
162,265
81.132
81,133
13,264
31
1858.
1,568,715
18.77
13,549
177,437
2,254
193,240
96,620
96,620
50,820
51
1859.
1,625,313
18.77
14,448
193,911
2,326
210,685
115,877
94,806
50,578
51
4 yrs
6.127,013
75.08
53,990
583,880
7,947
645,817
341,405
304,412
114,663
Aver. 1,531,753
18.77
13,497
145,970
1,987
161,454
85,351
76,103
29,666
31
WEST JERSEY RAILROAD.
(Financial year ending 31st December, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1860.
ROBERT F. STOCKTON, President
Princeton, N.J.
RICHARD SHIPMAN, Treasurer
Philadelphia, Pa.
WILLIAM Cook, Chief Engineer
Woodbury, N.J.
PRINCIPAL OFFICE
CAMDEN, Camden Co., N.J.
LENGTH OF RoAD-Camden to Woodbury
9 miles.
ROLLING STOCK-Locomotive engine and tender
1
Cars :-passenger, ; freight and others, 5
6
The West Jersey Railroad Company was chartered on the 5th February,
1853, with a share capital of $1,000,000, and authorized to construct a main
line from Camden to Cape Island, about 85 miles, and branch lines to Salem
and Bridgeton, with the right of continuing the latter to some point or points
on Delaware Bay. The work of construction on the first section, between
Camden and Woodbury, was commenced on the 7th September, 1854, and
completed on the 15th April, 1857. In May, 1860, the grading of three
additional sections of 10 miles, extending from Woodbury, via Glassboro' and
Pittston, to Bridgeton, was contracted for, and the work on these soon after-
wards commenced. It is proposed to bring the whole road into use during
the summer 1861. Estimated cost, $1,000,000.
SHARE CAPITAL-Authorized, $1,000,000, in 20,000 $50 shares.
Paid in, - $216,794, on 4,500
"
FUNDED DEBT
None. I FLOATING DEBT
$46,582
Cost OF ROAD AND EQUIPMENT-$280,277. No detail.
INCOME ACCOUNT FOR 1859.-Gross earnings, $15,344 operating expenses,
$11,976; earnings less expenses, $3,368.
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LAWS OF THE STATE IN REFERENCE TO RAILROADS.
List of all the Railroad Companies chartered in the State of New Jersey
with the dates of the Acts of their incorporation; and also the dates of and
abstracts of all laws passed by the Legislature in reference thereto.
The asterisk [*] prefixed signifies that the work of construction has not been commenced.
Corporate Titles.
Laws.
Abstract of Acts.
*ATLANTIC & CUMBERLAND
1957, p. 64
Act to incorporate, March 3.
"BELLEVILLE RR. & TRANSP. Co
1836, p. 102
Act to incorporate, Feb. 15.
"
"
"
1851, p. 276
Extends time for completion of road, March 14
"
"
"
1853, p. 281
Authorises co. to build bridge, etc., March 4.
"
"
"
1854, p. 301
Authorizes company to extend road, March 3.
"
"
"
1855, p. 505
Supplement to act of incorporation, March 29.
"
"
"
1856, p. 14
Additional road authorized, Feb. 7.
"
"
1859, p. 46
Act to revive all former acts, March 1.
*BELVIDERE & BRIDGEVILLE
1857, p. 313
Act to incorporate, March 20.
BELVIDERE DELAWARE
1836, p. 226
Act of incorporation, March 2.
"
"
1848, p. 49
Camden and Amboy R. R. Co. may subscribe
for shares, etc., Eeb. 29.
"
"
1852, p. 112
Repeals part of act of 1836, March 10.
"
"
1853, p. 90
Authorizes co. to make a dividend, Feb. 16.
"
"
1853, p. 484
Joint resolution authorizing bonds, Feb 16.
"
"
1856, p. 276
Act relative to freights and fares, March 14.
*BELVIDERE & PORT COLDEN
1836, p. 60
Act to incorporate, Feb. 9.
*BELVIDERE & WATER GAP
1851, p. 37
Act to incorporate, Feb. 21.
"
"
1852, p. 257
Extends time for construction, March 19.
"
"
1853, p. 239
Authorizes consolidation of stock and increase
capital, March 3.
"
"
1854, p. 254
Authorizes company to extend road, March 3.
"
"
1855, p. 65
Extends time for completion, Feb. 25.
"
"
1859, p. 365
Supplement to act of incorporation, March 15.
*BERGEN COUNTY (& TRANSP. Co.)
1836, p. 119
Act of incorporation, Feb. 17.
*BERGEN COUNTY
1853, p. 179
Act of incorporation, Feb. 25.
"
"
1855, p. 56
Supplement to act of incorporation, Feb. 12.
"
"
1857, p. 291
Time for completion of road extended, Mch. 19.
*BERGEN PORT COMPANY
1837, p. 387
Authorised to construct railroad, March 7
*BERGEN FREE STONE COMPANY
1837, p. 151
Authorized to construct railroad, Feb. 17.
*BRIDGETOWN & CENTREVILLE
1834, p. 55
Act to incorporate, Feb. 11.
*BURLINGTON & MOUNT HOLLY
1836, p. 141
Act to incorporate, Feb. 23.
BURLINGTON & MOUNT HOLLY (&
TRANSPORTATION Co.)
1848, p. 23
Act to incorporate, Feb. 11.
"
"
"
"
1857, p. 401
Supplement to act of incorporation, March 20.
"
"
"
"
1858, p. 91
Supplement to act of incorporation, Feb. 18.
CAMDEN & AMBOY
1830, p. 17
Act of incorporation, Feb. 4.
"
"
1831, p. 28
Amends act of incorporation, Feb. 4.
46
"
1831, p. 30
Amends act of incorporation, Feb. 15.
"
"
1832, p. 32
Supplement to act of 1831, March 2.
"
"
1832, p. 34
Amends act of incorporation, March 15.
66
"
1832, p. 35
Relating to appointment of Directors, Mch. 16"
"
"
1835, p. 635
Authorized to construct branch to South River,
Feb. 18.
"
"
1837, p. 38
Authorised to construct road from New Bruns-
wick to Trenton, March 15.
"
"
1837, p. 41
Acceptance of act of 1837 filed, April 13.
"
"
1838, p. 49
Authorized to subscribe for shares of Belvidere
Delaware Company, Feb. 29.
"
"
1840, p. 44
Relating to taxes and transit duties, Feb. 29.
"
"
1842, p. 45
Relating to taxes and transit duties, March 10
"
"
1842, p. 47
Acceptance of act of 1842 filed, Oct. 14.
"
"
1846, p. 48
In reference to Directors, April 16.
406
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NEW JERSEY-RAILROAD LAWS.
407
Corporate Titles.
Laws.
Abstract of Acts.
CAMDEN & AMBOY
1853, p. 484
Joint-Resolution authorizing company to sub-
scribe for shares of Freehold and James-
burg Agricultural RR Co., Feb. 16.
"
"
1853, p. 489
Joint-Resolution authorizing company to sub-
scribe for shares of the New Egypt and
Hightstown RR. Co, Feb. 10.
CAMDEN & ATLANTIC
1852, p. 263
Act of incorporation, March 19.
"
"
1853, p. 416
Repeals part of act of 1852, March 10.
"
"
1855, p. 422
Supplement to act of incorporation, March 21.
"
"
1856, p. 13
May issue additional stock and sell to creditors.
"
"
1857, p. 409
Supplement to act of incorporation
"
"
1858, p. 48
Authorizes a branch road.
"CANDEN & EGG HARBOR
1836, p. 370
Act of incorporation, March 10.
"
"
1848, p. 212
Extends time for construction, March 9.
"CAMDEN & HADDONFIELD PASS'R
1859, p. 96
Act to incorporate, March 4.
*CAMDEN, MOORESTOWN, HAINESPORT
& MOUNT HOLLY HORSE
1859, p. 400
Act to incorporate, March 15.
*CANDEN & PEMBERTON
1854, p. 144
Act of incorporation, Feb. 28.
"
"
1854, p. 442
Authorizes extension of road, March 17.
CAMDEN & WOODBURY
1836, p. 204
Act of incorporation, March 1.
"
"
1838, p. 296
Supplement to act of 1836, Feb. 24.
"
"
1839, p. 102
Further supplement to act of 1836-extend-
ing road, March 1.
CENTRAL
1849, p. 90
Name changed from Somerville& East'n, Feb. 22.
"
1854, p. 524
To amend act of incorporation, March 17, '54.
"CAPE MAY & ATLANTIC
1853, p. 261
Act of incorporation, March 4.
*COLUMBIA DELAWARE
1837, p. 303
Act of incorporation, March 4.
*DELAWARE & ATLANTIC
1834, p. 23
Name changed from Del. & Jobstown, Jan. 20.
*DELAWARE & JOBSTOWN
1833, p. 75
Act of incorporation, Feb. 4.
"
"
1834, p. 23
Name changed to Del. and Atlantic, Jan. 20.
DEL., LACKAWANA & W. OF PA
1857, p. 76
Authorized to purchase land in New Jersey.
DELAWARE & RARITAN CANAL
1830, p. 5
Act of incorporation, Feb 4.
"
"
"
1831, p. 27
Supplement to act of 1830, Feb. 3.
"
"
"
1831, p. 30
Amendment to act of 1830, Feb. 15.
"
"
"
1832, p. 32
Supplement to act of 1831, March 2.
"
"
"
1832, p. 35
Act to appointment of Directors, March 16.
"
"
"
1835, p. 36
As to constructing bridges at Trenton, Mch. 4.
"
"
"
1837, p. 38
Further supplement to act, March 15.
"
"
"
1837, p. 41
Acceptance of provisions filed, April 13.
"
"
"
1836, p. 70
Act to prevent frauds in vessels navigating
canal, Feb. 16.
6
"
"
1842, p. -
As to duties to be paid by company, March 10.
"
"
"
1846, p. 48
Prescribing duties of Directors, April 16.
64
"
"
1848, p. 114
May subscribe for shares of Bel. Del. R. R. Co.
as
"
"
1853, p. 484
Joint-Resolution authorizing subscription to
Freehold & Jamesburg Agr RR. Co. Feb. 16
"
"
"
1853, p. 489
Joint-Resolution authorizing subscription to
Rocky Hill and Mt. Holly RR. Co. Mch. 10.
"
"
"
1853, p. 489
Joint-Resolution authorizing subscription to
New Egypt and Hightstown RR. Co Mch. 10.
"
"
"
1854, p. 387
Authorized to construct RR. between New
York and Philadelphia, March 16.
"
"
"
1854, p. 550
Acceptance of act of 1854 filed, June 1.
ELIZABETHTOWN & SOMERVILLE
1831, p. -
Act to incorporate, Feb. 9.
"
"
1833, p. 69
Supplement to act of incorporation Feb. 8.
"
"
1836, p. 6
Supplement to act of incorporation, Feb. 16.
"
"
1837, p. 397
Supplement to act of incorporation, March 7.
"
"
1838, p. 46
Supplement to net of incorporation, Feb. 9.
"
"
1842, p. 47
Time for completion extended Feb. 16.
"
"
1842, p. 155
Mortgage to be valid, etc., March 11.
FLEMINGTON (& TRANSP. Co.)
1849, p. 93
Act to incorporate, Feb. 22.
"
1853, p. 16
Authorizes dividends, Feb. 16.
"
1854, p. 3
Time for completion extended, Feb. 19.
4.
1856, p. 276
Relative to freights and fares, March 14.
*FREEHOLD & KEYPORT
1848, p. 138
Act to incorporate, March 2.
FREEHOLD & JAMESBURG AGRL. Co.
1851, p. 201
Act of incorporation, March 12.
"
"
"
1852, p. 170
Authorizes construction of additional road and
increase of capital, March 10.
Digitized by
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408
NEW JERSEY-RAILROAD LAWS.
Corporate Titles.
Laws.
Abstract of Acts.
FREEHOLD & JAMESBURG AGRL. Co.
1853, p. 230
Authorizes extension of road, March 3.
"
"
"
1853, p. 484
Camden and Amboy Co. may subscribe capital,
Feb. 16.
"
"
"
1853, P 484
Delaware and Raritan Co. may subscribe
capital, Feb. 16.
"
"
"
1856, p. 24
Time for completion of road extended, Feb. 18.
"
"
"
1857, p. 545
Authorized to construct a branch, March 20.
*GERMANTOWN (& TRANSP. Co.)
1849, p. 272
Act of incorporation, March 1.
"
"
1854, p. 258
Time for completing road extended, March 3.
HACKENSACK & NEW YORK
1856, p. 340
Act of incorporation, March 14.
"
"
1858, p. 417
Authorises extension of road, March 17.
HOBOKEN & HUDSON CITY HORSE CAR
1859, P. 480
Act of incorporation, March 18.
HOBOKEN & W. HOBOKEN PASS' NGER
1859, p. 585
Act of incorporation, March 23.
"HUDSON & RAMAPO
1844, p. 97
Act of incorporation, Feb. 20.
JERSEY CITY & BERGEN
1859, p. 411
Act of incorporation, March 15.
JERSEY CITY & HOBOKEN HORSE
1859, p 550
Act of incorporation, March 23.
Lackawanna (OF PENN.)
1856, p. 256
Authorized to hold real estate in New Jersey,
March 18.
"LoNG BRANCH & SANDY Hook
1856, p. 48
Act of incorporation, Feb. 25.
*LAMBERTOWN, VINCENTOWN & PEM-
BERTOWN
1848, p. 230
Act of incorporation, March 9.
*MILFORD (& TRANSPORTATION)
1936, p. 84
Act of incorporation, Feb. 12.
MILLSTONE & NEW BRUNSWICK
1837, p. 24
Act of incorporation, Feb. 27.
"
"
1853, p. 276
Revives not of incorporation, March 4.
"
"
1854, p. 386
Authorizes extension of road, March 16.
"
"
1855, p. 104
Supplement to act of incorporation, Feb. 19
MILLVILLE & GLASSBORO'
1859, p. -
Act of incorporation, March 9.
MILLVILLE & WINSLOW
1859, p. -
Act of incorporation, March 9.
*MINE BROOK
1837, p. 318
Act of incorporation, March 4.
"
1839, p. 100
Authorizes extension of road, March 2.
MINERS, MANUF TURERS & FARMERS
1846, p. 109
Act of incorporation, March 4.
"
"
"
1854, p. 25
Revives act of incorporation, Jan. 31.
"
as
"
1858, p. 473
Authorises extension of road, March 18.
*Monmouth
1850, p. 18
Act of incorporation, Feb. 4.
*MonMouth & MIDDLESEX AGRICULT.
1836, p. 158
Act of incorporation, Feb. 12.
"
"
1839, p. 54
Supplement to act of incorporation, Feb. 19.
MORRIS CANAL TRANSPORTATION
1834, p. 41
Act of incorporation, Feb. 8.
& BANKING
1835, p. 17
Authorizes increase of capital, Jan. 20.
*MORRIS CANAL, PATERSON & Hun's
1831, p. 331
Act of incorporation, Feb. 3.
"
"
1831, p. 370
Supplement to act of incorporation, Dec. 1.
"
"
1836, p. 398
Time for completion of road extended, Mch. 10.
*MORRIS & EASTON
1857, p. 421
Act of incorporation, March 9.
MORRIS & Essex
1835, p. 25
Act of incorporation, Jan. 29.
"
"
1836, p. 223
Supplement to act of incorporation, Mch. 2.
"
"
1838, p. 25
Authorizes the Company to borrow money,
Feb. 22
"
"
1839, p. 22
Amends act of incorporation, Jan. 24.
"
"
1842, p. 83
Other companies authorized to lend money,
March 1.
"
=
1851, p. 98
Authorizes Company to extend road, borrow
money, etc., Feb. 19.
"
"
1853, p. 416
Junction with New Jersey RR. authorized,
March 10
"
"
1854, p. 260
Authorizes width of road to be increased,
March 3.
"
"
1855, p. 177
Further supplement to act of incorporation,
March 6.
"
"
1857, p. 111
Supplement to act of incorporation, March 6.
*MORRIS, SUSSEX & WARREN
1844, p. 222
Act of incorporation, March 13.
*MORRISTOWN & ELIZABETHTOWN
Act of incorporation.
"
"
1855, p. 666
Extends time for completion, April 5.
*MOUNT HOLLY & CAMDEN
1836, p. 245
Act of incorporation, March 4.
*MOUNT HOLLY & CAMDEN PASS'GER
1838, p. 35
Act of incorporation, Feb. 11.
*MOUNT HOLLY & PEMBERTON
1850, p. 264
Act of incorporation, March 7.
"
"
1853, p. 264
Authorizes extension of road and increase of
capital, March 6.
*MOUNT HOLLY A TUCKERTON
1855, p. 545
Act to incorporate, March 30.
"NEWARK & BELLEVILLE
1849, p. 289
Act of incorporation, March 2.
Digitized by
Google
NEW JERSEY-RAILROAD LAWS.
400
Corporate Titles.
Laws.
Abstruct of Acts.
NEWARK & BLOOMFIELD
1852, p. 467
Act of incorporation, March 26.
"
"
1853, p. 176
Authorizes branch road and bridge, Feb. 24.
"
"
1654, P. 100
Time for completion of road extended, Feb. 10.
"
"
1855, p. 217
Supplement to act of incorporation, Mch. 15.
"
"
1859, p. 168
Time for completion of road extended, Mch. 8.
"NEWARK & SPRINGFIELD
1853, p. 189
Act of incorporation, Feb. 25.
"
"
1859, p. 80
Revives act of incorporation, March 1
*New EGYPT & HIGHTSTOWN
1853, p. 122
Act of incorporation, Feb. 18.
"
"
1853, p. 489
Authorizes Camden & Amboy RR. Co. to sub-
scribe for stock, Feb. 18.
"
"
1853, p. 489
Authorizes Camden & Amboy RR. Co. to sub-
scribe for stock, Feb. 18.
*New EGYPT & NEWTOWN
1853, p. 93
Act of incorporation, Feb. 17.
New JERSEY
1832, p. 50
Act of incorporation, March 7.
"
1837, p. 63
Supplement to act of incorporation, Nov. 11.
"
1837, p. 64
Acceptance of act of 1837 filed, December 2.
"
0
1840, p. 65
Joint resolution as to decision of Supreme
Court, Feb. 29.
"
1842, p. 66
Joint resolution as to duties and taxes, Mch. 4.
"
1846, p. 66
As to tax and transit duties, April 18.
"
1846, p. 68
Acceptance of act filed, May 4.
"
1848, P. 69
Share capital may be increased. Feb. 4.
"
1848, p. -
Acceptance of act of 1848 filed, April 20.
"
1851, p. 322
Authorizes branch road, March 18.
"
1853, p. 88
Authorizes increase of capital, Feb. 16.
"
1853, p. 481
Acceptance of act of 1853 filed, April 21.
"New JERSEY, HUDSON & DELAWARE
1832, p. 389
Act of incorporation, March 8.
"
"
"
1842, p. 69
Extends time for completion of road, Feb. 22.
"
"
"
1854, p. 45
May construct bridge and issue bonds, Feb. 2.
"
"
"
1856, p. 10
Extends time for construction, Feb. 5.
"New YORK, ELIZABETHTOWN & MOR-
RISTOWN
1850, p. 34
Act of incorporation, Feb. 6.
"
"
"
1859, p. 534
Supplement to act of incorporation, March 23.
NEW YORK & ERIE
1853, p. 480
Makes company liable for damages, etc.,
March 14.
"
"
1856, P. 42
Authorizes completion of Paterson & Hudson
RR, Feb. 18.
"
"
1857, p. 60
Authorizes company to purchase land and
complete Paterson & Ramapo RR., Feb. 27.
NORTHERN
1854, p. 76
Act of incorporation, Feb. 9.
"
1855, p. 60
Supplement to act of incorporation Feb. 12.
"
1856, p. 24
Supplement to act of incorporation, Feb. 18.
"
1858, p. 212
Supplement to act of incorporation, March 5
NORTH & SOUTH CAMDEN PASSENGER
1859, p. 327
Act of incorporation, March 15.
*ORANGE & HANOVER
1837, p. 160
Act of incorporation, Feb. 21.
ORANGE & NEWARK HORSE CAR
1859, p. 297
Act of incorporation, March 15.
*PATERSON & HACKENSACK
1850, p. 41
Act of incorporation, Feb. 6.
PATERSON & HUDSON
1832, p. -
Act of incorporation.
"
"
1844, p. 17
Authorizes loans on mortgage for purchase of
iron, January 18.
"
"
1856, p. 235
Authorized to sell and purchase lands, Mch. 13
"
"
1856, p. 285
Authorized to straighten road, March 14.
PATERSON & RAMAPO
1841, p. 97
Act of incorporation, March 10.
"
"
1843, p. 76
Extends time for commencing construction,
Feb. 21.
"
"
1844, p. 86
Commissioners authorized to call meeting,
Feb. 15.
"
"
1844, p. 136
Relating to construction of former act, Feb 28.
"
"
1857, p. 60
Authorizes New York & Erie RR. Co. to com-
plete railroad, etc., Feb. 27.
"
"
1858, p. 37
Authorizes company to issue new bonds, Feb. 9.
*PEAPACK
1857, p. 445
Act of incorporation, March 20.
*PEAPACK & PLAINFIELD
1855, p. 531
Act of incorporation, March 30.
"
"
1856, p. 84
Supplement to act of incorporation, Feb. 29.
*PERTH AMBOY
1854, P. 62
Act of incorporation, Feb 9.
"
1857, p. 290
Supplement to act of incorporation, March 19.
*PERTH AMBOY & BOUNDBROOK
1858, p. 275
Act of incorporation, March 11.
*PERTH AMBOY & WOODBRIDGE
1855, p. 195
Act of incorporation, March 9.
52
Digitized by
Google
410
NEW JERSEY-RAILROAD LAWS.
Corporate Titles.
Laws.
Abstract of Acts.
*PERTH AMBOY, W'DBRIDE & RAHWAY
1837, p. 358
Act of incorporation, March 7.
"
"
"
1848, p. 67
Act to revive act of incorporation, Feb. 23.
"
"
"
1859, p. 383
Supplement to act of incorporation. March 15.
*PORT COLDEN & MORRIS
1837, p. 236
Act of incorporation, Feb. 28.
*RAHWAY & ELIZABETHPORT
1837, p. 140
Act of incorporation, Feb. 16.
RABITAN & DELAWARE BAY
1854, p. 214
Act of incorporation, March 3.
"
"
1854, p 230
Authorises Company to borrow money, Mch. 17.
"
"
1855, p. 753
Supplement to act of incorporation, April 6.
"
"
1856, p. 470
Supplement to act of incorporation, Mch. 18.
*RINGWOOD VALLEY
1854, p. 307
Act of incorporation, March 9.
*Rocky HILL
1853, p. 104
Act of incorporation, Feb. 17.
*SALEM
1856, p. 267
Act of incorporation, March 14.
"
1859, p. 221
Supplement to act of incorporation, March 9.
*SALEM & DELAWARE
1850, p. 117
Act of incorporation, Feb. 22.
SOMERVILLE & EASTON
1847, p. 128
Act of incorporation, Feb. 26.
"
"
1849, p. 90
Supplement to act of incorporation, Feb. 22.
"
"
1854, p. 524
Authorizes construction of wharves, Moh. 17.
"
"
1859, p 621
Relating to arrearages, March 23
*SOMERVILLE & NEW BRUNSWICK
1850, p. so
Act of incorporation, Feb. 20.
"
"
1852, p. 117
Time fixed for completing road, March. 4.
*South CAMDEN
1853, p. 287
Act of incorporation, March 5.
*SPATA MANUFACTURING COMPANY
1854, p. 153
Authorized to construct a railroad, Feb. 23.
*SPRINGFIELD & ELIZABETH
1837, p. 341
Act of incorporation, March 6.
*SPRUCE RUN
1855, p. 251
Act of incorporation, March 15.
SUSSEX
1853, p. 53
Act of incorporation, Feb. 5.
"
1854, p. 412
Authorizes construction of branch road, Mch 16.
"
1857, p. 558
Time for completing road extended, March 21.
*SUSSEX MINE
1848, p. 203
Act of incorporation, March 9.
"
1851, p. 386
May extend road and issue bonds, March 18.
"
1853, p. 53
Name changed to Sussex RR. Co., Feb. 5.
*SUSSEX & WARREN
1851, p. 78
Act of incorporation, Feb. 21.
"
"
1853, p. 20
Authorises extension of road, Jan. 27.
"
"
1855, p. 30
Further supplement to charter, Feb. 9.
"
"
1856, p. 373
Relative to time for completing road, Mch. 15.
"
"
1859, p. 155
Further supplement to act of incorporation,
March 8.
TRENTON HORSE
1859, p. 266
Act of incorporation, March 9.
WARREN
1851, p. 5
Act of incorporation, Feb. 12.
"
1855, p. 447
Supplement to charter, March 27.
"
1857, p. 184
Supplement to charter, March 11.
*WASHINGTON & RARITAN
1859, p. 516
Act of incorporation, March 18.
WEST JERSEY
1853, p. 39
Act of incorporation, Feb. 5.
"
1857, p. 227
Supplement to act of 1853, March 16.
*WEST JERSEY CENTRAL
1859, p. 442
Act to incorporate, March 16.
*Woodstown & BRIDGETON
1836, p. 270
Act of incorporation, March 7.
*WOODSTOWN & PENNSGROVE
1848, p. 238
Act of incorporation, March 9.
*Zinc MINES
1853, p. 162
Act of incorporation, Feb. 24.
SUPPLEMENT-LAWS OF 1860.
Corporate Titles of Companies.
Date.
Abstract of Acts.
BELLEVILLE
Jan'y 31
Further supplement to act of incorporation.
BELVIDERE & BRIDGEVILLE
Jan'y 31
Supplement to act of incorporation.
FREEHOLD & JAMESBURG
Jan'y 31
Further supplement to act of incorporation.
HACKENSACK & NEW YORK
March 7
Further supplement to act of incorporation.
HOBOKEN & WEEHAWKEN
March 7
Supplement to act of incorporation.
JERSEY CITY & BERGEN
March 7
Supplement to act of incorporation.
MENDHAM & CHESTER
March 7
Act of incorporation.
MILLEVILLE & GLASSBORO'
March 7
Further supplement to act of incorporation.
NEW YORK & ERIE
March 7
Act to facilitate foreclosure of mortgages.
NORTHERN
Jan'y 31
Further supplement to act of incorporation.
"
March 7
Further supplement to act of incorporation.
ROCKY HILL (& TRANSP.)
March 7
Act to revive act of incorporation.
SOMERVILLE & EASTON
Jan'y 31
Supplement to act of incorporation.
SUSSEX MINE
Jan'y 31
Further supplement to act of incorporation.
WEST JERSEY
March 7 Further supplement to act of incorporation.
Digitized by Google
CANALS OF THE STATE IN DETAIL.
DELAWARE AND RARITAN CANAL.
(See Camden and Amboy Railroad, etc.)
MORRIS CANAL.
(Financial year ending 29th February, 1860.)
BOARD OF DIRECTORS AND OFFICERS, 1860-61.
Class No 1-Expires 1861.
Class No. (Continued).
Wm. W. Marsh Schooley's Mountain, N.J.
Fred. T. Frelingbuysen
Newark, N. J
William Dickey
Paterson,
"
Henry R. Shotwell
Rahway, "
Cornelius Stewart
Changewater, "
Class No. 4-Expires 1864
Class No. 2-Expires in 1862.
Mark Devine
Philadelphia, Pa.
John Marsh
Wendham, N.J.
Levi Dickson
"
"
J. B. Varnum
New York, N. Y.
John H. Redfield
New York. N. Y.
Asa Whitney
Philadelphia, Pa.
Thomas N. McCarter
Neuton, N. J.
Coffin Colket
"
"
James Keene
Philadelphia, Pa.
Samuel Hart
"
"
Class No. 5-Expires 1865.
Class No. 3-Expires 1863.
Ebenezer B. Woodruff. Morristown, N.J.
William H. Talcott
Jersey City, N. J.
Isaac V. Williamson
Philadelphia, Pa.
Isaac W. Scudder
"
"
"
John D. Ward
Jersey City, N. J.
William Wright
Newark, "
Go. W. South
Burlington, "
EPHRAIM MARSH, President
Schooley's Mountain, N. Y.
WILLIAM H. TALCOTT, Superintendent and Engineer
Jersey City, N. Y.
PRINCIPAL OFFICE
JERSEY CITY, Hudson Co., N.J.
LENGTH OF CANAL-Jersey City to Phillipsburg
101 miles.
The Morris Canal and Banking Company was chartered on the 31st Decem-
ber, 1824, with authority to construct a canal from the Delaware river to
Newark, N. J. By an act passed on the 26th January, 1828, it was author-
ized to extend the canal to Jersey City. The work of construction was com-
menced in July, 1825, and completed, between the Delaware and Newark,
90 miles, in August, 1831; and subsequently to Jersey City, 11 miles.
The original dimensions of the canal were, width at top, 31, and at bot-
tom, 20 feet; depth, 4 feet; locks, 75 by 9 feet-competent to pass boats of
25 tons burden.
The centre of the summit level, near Stanhope, is 51 miles from tide-water
at Newark, and 39 miles from the Delaware river, and is elevated above the
former 914 feet, and above the latter 760 feet. To pass boats over this ele-
vation, 23 inclined planes and 23 lift locks are employed, distributed as
follows—
Planes E of summit 12; lift
758 feet.
Planes W of summit.
11; lift
691 feet
Locks
"
16;
"
156 "
Locks
"
7;
"
69 "
making a total ascent and descent of 1,674 feet.
During the years 1840 and 1841, the lift locks were enlarged to 98 by 12
feet. Immediately after the locks were enlarged, the company failed, and
its effects were placed in the hands of receivers, by whom the canal was leased
for a small annual rent until the close of the season of 1844. In October of that
year, the canal, its appendages, and the franchises of the company were sold
to foreclose a mortgage, under a decree of the Court of Chancery. The pur-
chasers and their associates re-organized under the name of the " Morris
411
Digitized by Google
412
NEW JERSEY-MORRIS CANAL.
Canal and Banking Company of 1844," and issued stock to the full amount
($1,000,000) authorized by the charter. On the 17th of April, 1845, $500,000
in 6 per cent bonds were issued. The new company commenced the im-
provement of the canal early the same year, and enlarged it from 32 to 40 feet
at top, and from 20 to 25 feet at bottom. With these improvements it was
opened for business in April, 1845, with a capacity to pass boats of about
65 tons. The cost of these works involved the company again in embarass-
ment. To pay off its debts and provide means for further improvements, the
Legislature, on the 9th February, 1849, passed an act authorizing the com-
pany to issue Preferred Stock, bearing 10 per cent. interest. This class of
stock, at the present time, amounts to $1,175,000. The law under which the
Preferred Stock was issued was accepted by the stockholders on the 18th May,
1849. In 1850 the Canal was opened with five feet water on all the levels, and
in 1851, the section between Newark and Jersey City having been re-con-
structed, the entire line was opened in its enlarged capacity.
SHARE CAPITAL-Authorized and paid in, $2,200,000, in 22,000 $100 shares,
namely: Common, $4,000; Consolidation, $1,021,000; Preferred, $1,175,000.
Upon the sale of the Canal in 1844, its cost to the purchasers was repre-
sented by 41,000 shares of stock, on which $25 per share was paid. In
1849 an act was passed authorising the consolidation of the stock into full paid
shares of $100 each. At the date of the last annual report all the stock
had been consolidated with the exception of 40 shares. By the same act
the Company was authorized to issue 11,750 shares of 10 per cent. Preferred
Stock-all of which has been issued. Dividends have been regularly paid
on the Preferred Stock. In 1857 a dividend of 10 per cent. in mortgage
bonds was paid on the Consolidated Stock : in 1858 11 per cent., and in 1859
4 per cent. in cash were paid.
FUNDED DEBT-$495,250: classified as follows—
1st Mortgage, 6 per cent., bonds
$465,500
-dated 1st October, 1856, and payable, principal in 20 years, and interest
semi-annually, 1st April and 1st October, at Company's office, Jersey City.
Mortgage, 7 per cent., bonds
$250
INCOME ACCOUNT FOR THE YEAR ENDING 29TH FEBRUARY, 1860.
Income-
Expenses-
Tolls
$297,715
Repairs canal and works.
$74,754
Rents
7,823
Operating canal
45,473
Salaries, office, law, and traveling ex-
penses.
23,903
Transportation expenses
3,505
Balance-Profit of the business
167.903
Total
$305,538
Total
$305,538
GENERAL STATEMENT FOR THE YEAR ENDING 29TH FEBRUARY, 1860.
Dr.
Cr.
Cost of canal and appurtenances
$2,752,774
Common stock
$4,000
Cash
11,886
Consolidated stock
1,021,000
Bills receivable
5,305
Preferred
"
1,175,000
Individual accounts
24,596
Six per cent. bonds
495,000
Materials
11,128
Seven per cent. "
250
Mortgage (on office premises)
5,000
Bills payable
86,843
Individual accounts
5,567
Dividends
6,292
Profit and loss-surplus
6,737
Total
$2,805,689
Total
$2,303,689
Digitized by
Google
NEW JERSEY-MORRIS CANAL.
413
PROFIT AND Loss ACCOUNT, 29TH FEBRUARY, 1860.
Dr.
Cr.
Expenses and repairs
$137,635
Balance at credit, February 18, 1869
$19,019
Dividends—
Income from the business
305,536
Preferred stock. August, 1859
56,540
Premium on preferred stock sold
8,159
1:
"
Feb.,
1860
58,750
Consolida'd "
August, 1859
20,500
"
"
Feb.,
1860
20,500
Interest on mortgage bonds, April, '59.
13,980
"
"
"
Oct., '59.
14,520
Depreciation of boats, horses, etc
2,774
Discount on bonds sold
779
Balance
6,737
Total
$332,715
Total
$332,715
Cost of
Mile-
-Freight in Tons.-
Gross
Operating
Earnings,
Div
Year.
Canal.
age.
Coal.
Total.
Earnings.
Expenses.
less exp.
Amount.
p.c.
1845
$1,317,300
101
28,221
58,259
$18,997
$20,037
Loss.
nil.
nil.
1846
1,416,554
101
47,947
109,505
56,019
36,941
"
"
"
1847
1,500,398
101
67,068
155,559
73,264
82,146
"
"
"
1848
1,500,398
101
89,879
204,682
65,531
46,043
$19,488
"
"
1849
1,500,398
101
114,017
234,305
100,418
60,035
40,383
"
"
1850
1,500,398
101
104,324
239,682
109,173
63,239
45,934
$8,034
10
1851
2,000,000
101
148,262
281,707
116,297
52,012
64,285
42,326
10
1852
2,000,000
101
190,277
358,797
143,690
59,961
83,729
59,159
10
1853
2,221,372
101
235,805
467,288
188,907
92,057
96,850
66,390
10
1854
2,256,654
101
284,506
543,269
246,615
103,203
142,412
73,075
10
1855
2,320,198
101
299,682
553,204
278,638
96,862
181,776
76,400
10
1856
2,402,355
101
311,929
563,386
313,026
113,868
199,158
76,400
10
1857
2,506,529
101
298,011
536,362
286,668
120,118
166,432
86,466
10
1858
2,603,296
101
356,297
554,034
275,019
132,370
142,649
103,695
10
1859
2,752,774
101
365,861
638,019
312,703
146,177
166,526
103,695
10
15 yrs.
29,798,624
1,515
2,942,086
5,498,058
2,584,965
1,276,069
1,308,896
695,640
Aver.
1,981,575
101
196,139
366,537
172,331
85,071
87,260
46,376
61
The dividends as above given are those paid on the Preferred Stock. In
addition to these, four dividends have been paid on the Consolidated Stock,
viz. : one of 10 per cent. in bonds in 1857 ; one of 11 per cent. in 1858, and
two of 2 per cent. each in 1859.
Digitized by
Google
STATE OF PENNSYLVANIA
ALLEGHANY VALLEY.
MAUCH CHUNK AND SUMMIT HILL.
ALLENTOWN.
MEADVILLE.
ATLANTIC AND GREAT WESTERN.
MILL CREEK AND MINE HILL.
BARCLAY.
MINE HILL AND SCHUYLKILL HAVEN.
BEAVER MEADOW.
MOUNT CARBON.
BELLEFONTE AND SNOW SHOE.
MOUNT CARBON AND PORT CARBON.
CATASAUQUA.
NEW CASTLE AND DARLINGTON.
CATAWISSA, WILLIAMSPORT AND ERIE.
NEW YORK AND ERIE.
CHARTIERS VALLEP.
NORTHERN CENTRAL.
CHESTER VALLEY.
NORTH LEBANON.
CHESTNUT HILL.
NORTH WESTERN.
CLEVEL'D, PAINESVILLE & ASHTABULA.
NORTH PENNSYLVANIA.
CLEVELAND & PITTSBURG.
OHIO AND PENNSYLVANIA.
CUMBERLAND VALLEY.
PENNSYLVANIA.
DAUPHIN & SUSQUEHANNA.
PENNSYLVANIA COAL.
DELAWARE, LACKAWANNA & WESTERN.
PHILA. AND BALTIMORE CENTRAL.
DELAWARE AND HUDSON CANAL COM-
PHILADELPHIA CITY PASSENGER.
PANY'S RAILROAD.
Phila., GERMANTOWN & NORRISTOWN.
EAST MAHONOY.
PHILADELPHIA AND READING.
EAST PENNSYLVANIA.
PHILADELPHIA AND SUNBURY.
ERIE AND NORTH EAST.
PHILADELPHIA AND TRENTON.
ERIE AND PITTSBURG,
PHILA., WILMINGTON & BALTIMORE.
FAYETTE COUNTY.
PITTSBURG AND CONNELLSVILLE.
FRANKLIN.
PITTSBURG, FT. WAYNE AND CHICAGO.
GETTYSBURG.
PITTSBURG AND STEUBENVILLE.
HANOVER.
QUAKAKE.
HARRISBURG, PORTSMOUTH, Mr. Joy &
SCHUYLKILL AND SUSQUEHANNA.
LANCASTER.
SCHUYLKILL VALLEY.
HEMPFIELD.
SHAMOKIN VALLEY AND POTTSVILLE.
HUNTINGDON AND BROAD Top Mr.
STRASBURG.
LACKAWANNA.
SUNBURY AND ERIE.
LACKAWANNA AND BI.OOMSBURG.
SWATARA.
LACKAWANNA AND LANESBORO'.
T10GA.
LEBANON VALLEY.
TREVORTON.
LEHIGH LUZERNE.
TYRONE AND CLEARFIELD.
LEHIGH AND SUSQUEHANNA.
TYRONE AND Lock HAVEN.
LEHIGH VALLEY.
VENANGO.
LITTLE SCHUYLKILL.
WESTCHESTER.
LITTLESTOWN.
WESTCHESTER AND PHILADELPHIA.
LORBERRY CREEK.
WILLIAMSPORT AND ELMIRA.
LYKENS' VALLEY.
WRIGHTSVILLE, YORK & GETTYSBURG.
M'CAULEY MOUNTAIN.
YORK AND CUMBERLAND.
M'KEAN COUNTY.
YORK AND MARYLAND LINE.
The railroads first opened in the State of Pennsylvania were constructed
for the purpose of connecting the Eastern or Anthracite Coal Fields with
several lines of canals designed to serve as their outlets. It was found
impossible to extend the canals to the mines, and hence the necessity for
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STATE OF PENNSYLVANIA.
415
some means of land transportation more expeditious and economical than the
ordinary earth roads. The railroad first constructed in the State, and the
second in the United States, was the Mauch Chunk and Summit Hill, from a
place of the same name on the Lehigh Canal to the coal mines of the Lehigh
Company. It was brought into use in 1827. It was originally laid with a
flut bar, 2x1 inches. The loaded cars descended by their own gravity, and
were drawn back by mules. The road belongs to the Lehigh Coal and
Navigation Company, and no statement of its cost or earnings is made
distinct from the other works of the company.
The second railroad constructed was the Carbondale and Honesdale,
extending from the Delaware and Hudson Canal to the Northern or Lacka-
wanna Coal Fields. It was opened in 1829. It was 16} miles long, and laid
with an ordinary flat rail. It is a gravity road, made up of short and long
planes-the cars being drawn up the former by stationary engines, and
descending the latter by their own gravity. It has been entirely re-con-
structed, and extended 10 miles. The road belongs to the Delaware and
Hudson Canal Company of New York. No separate statement of its
earnings is given in the reports of that company.
The Mill Creek and Mine Hill Railroad, extending from Palo Alto on
the Schuylkill Canal to the Coal Mines, 4 miles, was also opened in 1829.
The road was worked by horse-power for many years. Several branches
have been constructed, making an aggregate length of line at the present
time of 12.52 miles. No statement of its affairs prior to 1848 could be
obtained. Since that time it has been a productive work, paying dividends
at the rate of 10 per cent. annually.
In 1830, 12.73 miles were opened: the Schuylkill Valley, from Port
Carbon to Tuscarora, 9.23 miles; and the Union Canal Company's Road at
Pine Grove, 31 miles. To the former several branches have been added
making the aggregate length of line 24.45 miles. No statement of its affairs
prior to 1848 could be obtained. Since that time the road has paid dividends
at the rate of 6 per cent. annually.
In 1831, 20.50 miles were opened the Mine Hill and Schuylkill Haven, 134
miles, and the Mount Carbon, 7 miles. The main line of the former has
been extended 11 miles, and it has 474 miles of branch roads. The road
has been a successful work, having paid dividends averaging 11 per cent.
annually. The Mount Carbon has also been a successful work, having paid
dividends at the rate of 6} per cent. annually.
In 1833, 48.7 miles were opened : the Philadelphia and Trenton, 28.2 miles;
the Room Run, 5 miles; and the Lykens Valley, 15} miles. In 1836, a con-
tract was made with the Camden and Amboy Company, whereby the share
capitals of the two companies were to share in the same rate of dividend. In
1837 the latter purchased the greater portion of the shares of the former,
and the two roads may now be considered as one line. The Room Run
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STATE OF PENNSYLVANIA.
Railroad belongs to the Lehigh Coal Navigation Company. With reference
to the Lykens Valley Railroad, no historical information could be obtained.
In 1832, the Little Schuylkill was opened 20 miles, and the Philadelphia,
Germantown and Norristown, to Germantown, 7 miles. The Little Schuyl-
kill is a mining as well as a transportation company. No account of its
financial affairs could be obtained previous to 1852. From that year to
1857 it paid dividends at the rate of 7 per cent. No dividends were
paid for 1858 and 1859. The Philadelphia, Germantown and Norristown
was completed to Norristown in 1835. It was for many years an unpro-
ductive work. In 1847 its affairs were re-organized, whereby it became
relieved of a large portion of its indebtedness. It commenced the payment
of dividends in 1850, which, for four years (1856-9), has averaged 10 per cent.
In 1834, 127 miles were opened: the Philadelphia and Columbia, 82 miles;
the Alleghany Portage, 36 miles, and the Westchester, 9 miles. The two
former were portions of the State system of public works, and were sold in
1857 to the Pennsylvania Railroad Company. The Westchester, which has
been run without profit, as a general rule, is now leased to the same company.
No new road was opened in 1835. In 1836, the Beaver Meadow Railroad,
201 miles long, was opened. This company publishes no statement of its
affairs, and no information could be obtained in reference to the same, except
that contained in the report made to the Auditor of the State. It has for
many years past been a productive work, and last year paid dividends to its
stockholders equaling 12 per cent.
In 1837, the Harrisburg, Portsmouth, Mount Joy and Lancaster Rail-
road, 36 miles long, was opened. This road was leased to the Pennsylvania
Railroad Company in 1849, and now forms a part of its line. It has for
several years past been a productive work, and has paid dividends averaging
about 3 per cent. on the share capital of the company, since it was opened.
The Cumberland Valley Railroad was opened in 1837. It was an im-
perfectly constructed work, and its earnings for several years were only
sufficient to pay expenses and interest on its debt, about $275,000. In
1849 its re-construction was commenced, and completed in the following
year. Since that time it has been a productive work, although it has not
yet paid dividends on its common stock. The Strasburg Railroad, running
from the Philadelphia and Columbia Railroad, 4.25 miles long, was opened in
1837.
In 1838, 142 miles were opened: the Philadelphia, Wilmington and Bal-
timore, 98 miles, and the Franklin, 22 miles. The Philadelphia, Wilmington
and Baltimore Railroad has for several years past been a productive work,
and has for the whole period since its opening paid dividends averaging
about 3 per cent. annually. Franklin Railroad Company became em-
barrassed soon after the opening of its road, which was operated by
a sequestrator till 1852, when it became unsafe for trains to run over it and
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STATE OF PENNSYLVANIA
417
they were consequently discontinued. In 1859 the road was 13-constructed,
and is now operated by the Cumberland Valley Railroad Company. No
report of its affairs since its re-construction has been made. The York and
Maryland Line, constructed and owned by the Baltimore and Susquehanna
Company, and forming part of the line of its road, was opened in 1838.
In 1839, 83 miles were opened; the Philadelphia and Reading, 58 miles,
and the Williamsport and Elmira, 25 miles. The Philadelphia and Reading
Railroad, which was fully opened in 1842, has returned to its stockholders
dividends at the rate of 4.65 per cent. annually. A portion of its dividends
have been paid in certificates of stock. It is the great coal railroad of the
country. The Williamsport and Elmira was operated for many years
without profit, and in 1849 was sold, and a new company organized, by
which the old road was re-constructed, and its line extended to Elmira, in
the State of New York, to which it was opened in 1854. The company
soon after became embarrassed in its affairs, which have been re-organized,
by the conversion of a portion of its debts into a preferred stock. The road
has paid nothing to its stockholders.
In 1840, 63.45 miles of railroad were opened the Lehigh and Susque-
hanna, 19.71 miles; the Lorberry Creek, 5.13 miles; the Tioga, 25.61
miles, and the Wrightsville, York and Gettysburg, 13 miles. The Lehigh
and Susquehanna Railroad belongs to the Lehigh Navigation and Coal Com-
pany. The Lorberry Creek is an unimportant work, used exclusively in the
transportation of coal. The Tioga Railroad was re-constructed in 1852. To
that date it had been an unproductive work. For three years (1857-9) it has
paid dividends equaling 6 per cent. on its preferred stock. Its revenues are
almost exclusively derived from the transportation of coal. The Wrights-
ville, York and Gettysburg is leased to and run by the Northern Central
Railroad, and has earned dividends for the past five years equaling about 2
per cent. annually. Previous thereto it was an unproductive work.
No additional milenge was opened till 1842, when the Philadelphia and
Reading Railroad was completed, from Reading to Mount Carbon, 35 miles.
No mileage was opened in 1843. In 1844, the Mount Carbon and Port
Carbon, 21, and the Swatara, 6 miles, were opened. The former has
been a productive work, having paid dividends at the rate of 12 per cent.
annually. The Swatara is an unimportant work and is exclusively engaged
in the transportation of coal. No account of its operations could be obtained.
In 1848 that portion of the New York and Erie Railroad in the State of
Pennsylvania, 42 miles, was opened.
In 1849, 72 miles of the Pennsylvania Railroad was opened. This road
was fully opened in 1854, by the completion of the Mountain Division,
previous to which the Portage Railroad was used for crossing the moun-
tains. This road has been a productive work, and has paid dividends
averaging about 5 per cent. annually.
54
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STATE OF PENNSYLVANIA.
In 1850, 112 miles of railroad were opened : the Pennsylvania Coal Com-
pany's road, 47 miles, and the Pennsylvania Railroad (extended), 65 miles.
The Pennsylvania Coal Company is engaged in mining, as well as in the
transportation of coal. The enterprize has been productive, having returned
to its stockholders dividends averaging 6 per cent.
In 1851, 220 miles of railroad were opened: the Delaware, Lackawanna
and Western (northern division), 63 miles; the York and Cumberland, 27 miles;
the eastern portion of the Ohio and Pennsylvania, 42 miles ; the Dauphin
and Susquehanna, 18 miles; the Columbia Branch of the Harrisburg and
Lancaster Railroad, 18 miles, and the Pennsylvania (extended), 52 miles.
The Delaware, Lackawanna and Western, for several years after its opening,
paid dividends averaging about 5 per cent., when it became embarrassed,
and made an assignment of its property for the benefit of its creditors. Its
affairs, however, were soon adjusted, and the company has again resumed
the payment of dividends. The Ohio and Pennsylvania, now the Pittsburg,
Fort Wayne and Chicago, for a time was regarded as a successful work, but
since its consolidation with the Ohio and Indiana, and Fort Wayne and
Chicago, has been greatly embarrassed, having failed to meet the interest
accruing on its funded debts. Measures are now in progress for the re-
organization of its affairs. The Dauphin and Susquehanna is now known
as the Schuylkill and Susquehanna Railroad. It has been an unproductive
work, and in 1859 the road was sold, and a new company organized under
the present title. The York and Cumberland Railroad was consolidated
into the Northern Central in 1854.
In 1852, 82.90 miles were opened: the Erie and North East, 18.50 miles
the Hanover Branch, 12.90 miles; that portion of the Cleveland and Erie
Railroad in the State of Pennsylvania, 25.50 miles, and the Pennsylvania Rail-
road (extended), 26 miles. The Erie and North East is now virtually con-
solidated into the Buffalo and State Line Company, of New York. It has
been a productive work, having paid dividends at the rate of 10 per cent.
The Hanover Branch has paid only one dividend of 2 per cent. The Cleve-
land and Erie Railroad is described under the Railroads of Ohio.
In 1853, 31.50 miles were opened : the Chester Valley, 21.50 miles; the
Westchester and Philadelphia, 6.25 miles, and the Tioga (extended), 3.75
miles. Both the Chester Valley and the Westchester have been unproduc-
tive works, and have been greatly embarrassed in their affairs.
In 1854, 259.67 miles were opened the Catawissa, Williamsport and Erie,
64 miles; the Chestnut Hill, 4.17 miles; the North Lebanon, 7.50 miles ;
the Sunbury and Erie, 27.50, and the Trevorton, 14.50. The following
roads were extended the Little Schuylkill, 8 miles; the Pennsylvania, 39
miles; the Dauphin and Susquehanna, 36 miles; the Williamsport and
Elmira, 53 miles, and the Westchester and Philadelphia, 6 miles. The
Catawissa, Williamsport and Erie succeeded to the Little Schuylkill and
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STATE OF PENNSYLVANIA.
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Susquehanna Railroad, which was partially completed as early as 1841. The
company has been in an embarrassed condition almost from the opening of
its road, and its affairs have been recently re-organized by the conversion of
its indebtedness into different classes of share capital. The Chestnut Hill
Railroad is leased to and operated by the Philadelphia, Germantown and
Norristown Company. The North Lebanon is a local work constructed for
the conveyance of iron ores and coal to and from the Union Canal. It is in
fact a private enterprize. The Sunbury and Erie is yet an unfinished work.
The Trevorton is a coal road, belonging to a coal mining company, the bonds
issued by which cover coal lands as well as the railroad. This company is
in default for the payment of the interest due on its bonds.
In 1855, 133 miles were opened: the Huntingdon and Broad Top,
21.25 miles; the Lehigh Valley, 45.50 miles; the North Pennsylvania, 28.75
miles, and the Pittsburg and Connellsville, 25 miles. The Sunbury and Erie
was extended 12.50 miles. The Huntingdon and Broad Top, which is a coal
road, has paid nothing to its stockholders. The Lehigh Valley has been a
productive work, having paid dividends at the rate of 6 per cent. annually.
The North Pennsylvania has paid nothing on its stock. The Pittsburg and
Connellsville is an unfinished work.
In 1856, 261.95 miles were opened the Alleghany Valley, 44 miles; the
Barclay, 16.50 miles; the Catasauqua and Foglesville, 10 miles, built for
the accommodation of establishments for the manufacture of iron; the Dela-
ware, Lackawanna and Western (southern division), 48 miles; the Lacka-
wanna and Bloomsburg, 24 miles; the Lackawanna, 9 miles; that por-
tion of the Cleveland and Pittsburg Railroad in the State of Pennsylvania,
14.95 miles; the Lebanon Valley, 54 miles, and the M'Cauley Mountain,
6 miles. The following roads were extended: the Huntingdon and Broad
Top, 11 miles; the Pennsylvania (Indiana Branch), 16.50 miles; and the
Pittsburg and Connellsville, 8 miles. The Alleghany Valley is an unfinished
work, and has paid nothing to its stockholders. The Barclay is a mining
as well as a transportation company. Its road has thus far been an
unproductive work. The Lackawanna and Bloomsburg has only recently
been completed. The Lackawanna is a local work connecting the Delaware,
Lackawanna and Western with certain coal mines. The Lebanon Valley has
been consolidated into the Philadelphia and Reading Railroad. The
M'Cauley Mountain is a coal road of no public importance. The Cleveland
and Pittsburg Railroad is described among the Railroads of Ohio.
In 1857, 126.25 miles were opened: the Hempfield, 32 miles, and the North-
ern Central, 19 miles. The following roads were extended: the Lackawanna
and Bloomsburg, 34 miles the North Pennsylvania, 26.25 miles, and the
Pittsburg and Connellsville. 15 miles. The Hempfield is still an unfinished
work, and has proved entirely unproductive. The Northern Central, which is a
consolidation of several lines, is described among the Railroads of Maryland.
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STATE OF PENNSYLVANIA.
In 1858, 155.65 miles were opened: the Gettysburg, 17.12 miles, and the
Quakake, 14 miles. The following City or Horse Railroads were also opened:
the Citizens', 8.50 miles; the Frankford and Southwark, 16.50 miles; the
Fairmount, 5 miles; the Philadelphia and Gray's Ferry, 7 miles; the Phila-
delphia and Darby, 4.25 miles; the West Philadelphia, 9.25 miles. The
Shamokin Valley Railroad Company was also organized and took possession
of its road, 28 01 miles, in 1858. This road was constructed in 1833, under
the title of the Danville and Pottsville Railroad Company, and afterwards
abandoned. In 1850 the road passed into the hands of a new company, the
Philadelphia and Sunbury, by which it was subsequently re-constructed,
and in 1858 passed into the possession of the present company. The follow-
ing roads were extended in 1858: the Northern Central, 26 miles, and the
W estchester, 20 miles. The Gettysburg Railroad is operated by the Hano-
over Branch Railroad. The Quakake has hardly commenced operations.
The earnings of the Philadelphia City Passenger Railroad cannot at present
be obtained.
In 1859, 258.92 miles were opened: the East Pennsylvania, 36 miles; the
Fayette County, 12.67; the Littlestown, 8.50, and the Philadelphia and Bal-
timore Central, 6 miles. The following City or Horse Roads were opened: the
Fairmount and Arch Street, 5 miles; the Germantown, Fourth and Eighth
Streets, 17.25 miles; the Girard College, 5.50 miles; the Green and Coates
Street, 5.25 miles; the Hestonville, Mantua and Fairmount, 7 miles; the North
Philadelphia, 5.50 miles; the Philadelphia City, 4 miles; the Richmond and
Schuylkill, 5.25 miles; the Ridge Avenue and Manayunk, 9 miles; the
Seventeenth and Nineteenth Streets, 6 miles, and the Thirteenth and Fif-
teenth Streets, 6 miles. The following roads were extended: the Northern
Central, 9 miles, and the Sunbury and Erie, 112 miles.
In the current year, (1860), 1021 miles have been opened: the Bellefonte
and Snow-Shoe, 181 miles; the Erie and Pittsburg, 401 miles; the Lehigh-
Luzerne, 20 miles. The Lackawanna and Bloomsburg was extended 11 miles,
and the Philadelphia and Baltimore Central, 121 miles.
A large number of railroads are in progress in the State, among which
may be named the Sunbury and Erie; the Erie and Pittsburg; the Atlantic
and Great Western, and the Philadelphia and Baltimore Central.
In the extent of City or Horse Railroads, Philadelphia far exceeds any
city in the country-the length of the roads in it, in actual operation, being
148 miles. These have been constructed at a nominal cost of $3,672,785, or
$25,000 per mile-about one-eighth the cost of the railroads in the city of
New York; the railroads of Philadelphia are, however, measured on their
single track roads.
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STATE OF PENNSYLVANIA.
421
STATEMENT, showing the Share Capital and Debts of the principal Railroad Companies of
the State of Pennsylvania, with the amount of the productive and unproductive capital of
each, respectively:
Corporate Titles
Share Capital
Funded
-Funded
& Float'g Debt-
of Companies.
Total.
Produc.
Unprod.
Debt.
Total.
Produc.
Unprod
Alleghany Valley
$1,660,000
$
$1,660,000
$400,000
$436,089
$436,089
$
Allentown
304,118
304,118
25,982
25,982
25,982
Barelay
582,700
582,700
450,000
475,000
475,000
Beaver Meadow
1,410,900
1,410,900
Catawissa, Williamsport & Erie
1,700,000
1,700,000
2,432,500
2,868,710
1,434,355
1,434,356
Chester Valley
871,900
871,000
500,000
692,500
692,500
Chestnut Hill
120,000
120,000
400
400
Cumberland Valley
981,900
509,900
472,000
245,500
245,500
245,500
Delaware, Lackawanna & Western
3,360,250
3,360,250
6,319,528
6,835,680
6,835,680
East Pennsylvania
450,000
450,000
600,000
600,000
600,000
Erie & North East
600,000
600,000
400,000
400,000
400,000
East Mahonoy
350,900
850,000
Erie & Pittsburg
430,000
430,000
250,000
250,000
Fayette County
76,043
76,043
30,000
30,000
80,000
Franklin
360,000
860,000
165,000
165,000
165,000
Gettysburg
115,698
115,698
83,000
177,550
177,550
Hanover Branch
118,000
118,000
35,000
35,550
85,550
Harrisburg and Lancaster
1,087,100
1,087,100
662,000
666,752
666,752
Hempfield
1,809,563
1,809,563
500,000
500,000
Huntlngdon and Broad Top
466,603
466,603
661,678
980,924
115,727
805,197
Lackawanna & Bloomsburg
712,424
712,424
1,000,569
1,186,819
1,185,819
Lehigh Valley
1,966,350
1,966,350
1,417,000
1,609,910
1,609,910
Lehigh Luzerne
93,000
93,000
160,000
160,000
160,000
Lehigh Coal & Navigation
2,479,950
2,479,950
3,619,254
3,985,077
3,985,077
Little Schuylkill
2,256,100
2,256,100
953,000
1,057,835
1,057,835
Littlestown
45,000
45,000
22,000
33,446
33,446
Lykens Valley
400,000
400,000
38,500
33,500
Mill Creek & Mine Hill
310,850
310,850
Mine Hill & Schuylkill Haven
2,800.000
2,800,000
Mount Carbon & Port Carbon
200,000
200,000
1,673
1,678
Mount Carbon
282,350
282,350
North Lebanon
149,550
149,550
149,550
166,763
83,382
88,381
North Western
800,000
800,000
North Pennsylvania
3,155,820
3,155,820
2,787,000
3,164,817
3,164,817
Pennsylvania
13,249,125
13,249,125
16,153,680
16,922,517
16,922,517
Pennsylvania Coal
3,200,000
3,200,000
600,000
961,758
961,758
Philadelphia & Baltimore Central.
178,899
178,899
202,100
285,953
285,963
Philadelphia City Passenger
2,817,000
1,408,500
1,408,500
981,300
981,300
931,300
Phila, Germantown &Norristown
1,223,500
1,223,500
374,800
374,800
374,800
Philadelphia & Reading
11,548,929
11,548,929
12,093,950
12,093,950
12,093,950
Philadelphia & Trenton
990,200
990,800
250,000
250,000
250,000
Phila, Wilmington & Baltimore
5,600,000
5,600,000
2,493,435
2,498,435
2,498,435
Pittsburg & Connellsville
1,753,864
1,753,864
1,600,000
1,675,551
1,500,000
175,551
Pittsburg, Fort Wayne & Chicago
6,266,277
6,266,277
8,895,457
10,779,305
8,895,457
1,383,848
Pittsburg & Steubenville
1,257,700
1,257,700
500,000
500,000
500,000
Quakake
454,000
454,000
200,000
225,000
225,000
Schuylkill Valley
568,150
568,150
Schuylkill & Susquehanna
1,500,000
1,500,000
Shamokin Valley & Pottswille
862,800
862,800
821,847
826,847
826,847
Sunbury & Erie
4,306,920
4,306,920
4,094,000
4,955,271
4,965,271
Swatara
32,200
32,200
Tioga
0
367,300
189,700
177,600
396,500
396,500
896,500
Trevorton
792,000
792,000
840,000
880,000
880,000
Tyrone & Clearfield
175,000
175,000
225,000
225,000
225,000
Tyrone & Lock Haven
337,000
837,000
Weetchester
20,990
20,990
13,383
13,333
13,333
Westchester & Philadelphia
682,805
682,805
1,186,406
1,230,346
1,230,346
Williamsport & Elmira
1,000,000
1,000,000
1,000,000
1,035,000
1,035,000
Wrightsville, York & Gettysburg.
317,050
371,050
52,000
82,996
82,996
Total
92,008,778
42,310,075
49,698,703
76,097,369
88,728,339
76,462,525
7,265,814
The above table, though very nearly, may not be entirely accurate, in the division of productive
and unproductive capital. In two or three instances the funded debts of companies were put
down as productive, although the earnings of the roads have not been sufficient to pay the
interest on them. In such cases the roads have been recently opened, or the interest has been
paid by other parties. The funded debt of the Pittsburgh, Fort Wayne and Chicago. is put down
as productive, although the company is not at the present time paying the accruing interest, which
appears to have been earned. As the table is a recapitulation of the statements of the several
companies, a reference to them will give the necessary explanations and corrections.
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STATE OF PENNSYLVANIA.
The whole amount of capital invested in the railroads of the State of
Pennsylvania at the end of 1859 was $175,737,117. Of this sum $92,008,778
represented the amount of share-capital ; $76,097,367 the amount of funded
debt, and $7,630,970 the amount of floating debt. Of the share-capital
$42,310,075 or 46 per cent. of the whole was productive, and $49,698,703
unproductive; and of the total debt ($83,728,339) the amount productive
was $76,462,527 or 91 per cent. and the amount unproductive $7,265,814.
The average cost per mile of the railroads of Pennsylvania has been
$56,397. The cost per mile of the 2,350 miles represented in the following
table for 1859 was $58,608. This cost for roads traversing 80 uneven a
State as Pennsylvania and surmounting great natural obstacles, and which
are generally substantially built, is very moderate. The most costly road of
the State, and also of the United States, is the Philadelphia and Reading
Railroad, which averages $140,000 per mile.
The total gross earnings of the railroads of the State, including those of
the Pittsburg, Fort Wayne and Chicago Railroad, which is essentially a
Pennsylvania work, have amounted in the thirty years ending with 1859 to
$159,989,901, of which amount $48,546,313 has resulted from passenger
transportation; $100,709,251 from the transportation of coal and merchan-
dize, and $10,734,337 from other sources, including mails, expresses, rents, etc.
The current expenditures in the same time have been $88,439,362; and
the earnings less such expenditures, but not including interest on debt,
$71,550,539. The total amount divided on share-capital has been $32,817,300.
Reducing these amounts to proportionate equivalents, it will be found that
the gross earnings have equalled about 12 per cent. on the whole liabilities,
and 13 per cent. on the cost of construction; and that the net earnings have
equalled 61 and 7 per cent. on the said liabilities and cost respectively. The
proportion of the gross earnings expended in operating the roads has been
55 per cent. The dividends paid have averaged on the total share-capital
about 3.9 per cent. per annum.
The difference between the net earnings or earnings less current expenses
and the amount of the dividend paid on the share-capital is $38,688,237.
From this amount has been paid the interest on the gross debt, which funded
and floating has amounted to $514,124,808. Assuming an average rate of
6 per cent. as the interest paid, this amount has received the gross sum of
$30,847,482. The balance has lapsed to profit and loss.
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RAILROADS IN THE STATE OF PENNSYLVANIA
STATEMENT showing the Share Capital, Indebtedness, Cost of Roads. etc., Gross Earnings from Passengers, Freight, etc., Operating Expenses,
Earnings less Expenses, and Dividends made by the principal Railroad Companies for each year since and including the year 1830
Capital Account
Cost of
Miles
Gross Earnings
Operating Earnings
Amount
Share-
Funded
Floating
Total
Road &
of
Passenger
Freight
Other
Total.
Expenses
less
of
Y
Capital.
Debt.
Debt.
Capital.
Equipment.
Road.
Earnings.
Earnings.
Earnings.
Earnings.
& Repairs.
Expenses.
Dividend.
Year.
1S30.
$167,859
$13,183
$186,042
$186,251
9.09
$
$22,317
$22,317
$9,172
$13,145
$4,072-1830
1831.
301,784
161,718
27,855
491,357
479,319
28.35
39,387
39,387
21,342
18,045
5,892-1831
1932.
1,397,520
469,170
39,108
1,905,798
1,197,318
48.91
61,342
61,342
34,291
27,051
7,950-1832
1833.
1,722,309
681,330
62,107
2,465,746
1,513,249
54.03
22,606
101,727
124,333
69,819
54,514
11,446-1633
1834.
3,102,718
695,350
101,509
3,899.577
2,941,708
90.51
51,709
113,514
1,782
167,005
97,614
69,391
31,716.1834
1835.
7,332,457
816,119
212,798
8,361,374
7,760,798
216.66
140,219
276,247
4,617
421,083
350,385
70,698
299,222.1835
1836.
7,867,462
829,514
205,317
8,902,293
8.391,527
227.91
205,109
392,967
12,658
610,734
502,755
107,979
338,658.1836
1837.
10,424,209
2,683,125
226,019
13,333,353
12,956,019
364.96
461,696
483,125
87,566
1,032,387
805,519
226,868
388,210.1837
1838.
11,350,450
3,103,689
330,829
14,784,968
13,399,303
377.46
623,896
531,722
137,125
1,292,743
663,264
629,479
484,997-1838
1839.
11,788,179
3,143,689
404,152
15,336,020
13,928,196
383.71
738,938
617,940
113,103
1,469,981
867,744
602,137
597,554-1839
1840.
14,928,434
4,443,689
526,234
19,898,357
18,452,642
474.46
850,410
777,895
111,915
1,740,220
1,374,394
365,826
386,101-1840
1841.
15,453,384
4,593,689
616,526
20,663,599
19,760,589
474.46
853,699
809,361
112,247
1,775,307
1,149,616
625,691
461,931-1841
1842.
16,008,134
6,478,790
821,693
23,308,617
21,861,905
474.46
799,516
768,716
108,271
1,676,503
1,062,877
613,626
393,312.1842
1843.
16,671,303
6,691,618
1,056,471
24,419,392
22,476,905
474.46
806,744
881,314
131,261
1,829,319
1,035,876
793,443
324,670-1843
1844.
17,186,110
8,998,982
1,051,174
27,236,266
24,946,600
497.96
895,065
1,101,151
136,149
2,132,365
1,250,012
882,353
441,582.1844
1845.
19,760,710
9,054,845
1,456,130
30,271,685
26,478,108
502.72
983,176
1,619,895
149,234
2,752,305
1,531,075
1,221,227
481,354-1845
1846.
20,949,700
9,901,407
1,381,945
32,233,052
27,973,362
502.72
1,023,429
2,558,182
160,461
3,742,072
1,734,808
2,007,264
797,964-1846
1847.
21,739,259
9.903,791
1,436,049
33,079,099
29,964,884
507.22
1,166,340
2,795,271
176,347
4,137,958
2,139,769
1,998,189
924,827-1847
1848.
22,723,765
10,872,716
1,081,593
34,678,074
32,885,551
514.19
1,264,080
2,877,181
261,666
4,402,927
2,355,197
2,047,730
728,216-1848
STATE OF PENNSYLVANIA.
1849.
24,946,400
12,189,655
1,113,024
38,249,079
35,159,788
521.65
1,361,863
2,881,698
304,197
4,547,758
2,289,372
2,258,386
691,912.1849
1850.
29,309,292
13,865,129
1,114,913
44,289,334
42,689,204
746.16
1,548,399
3,387,078
422,717
5,358,194
2,851,272
2,506,922
1,102,757.1850
1851.
35,119,347
15,537,727
1,202,476
51,859,550
50,113,344
898.26
1,836,682
3,742,578
418,719
5,997,979
3,229,517
2,768,462
1,430,925.1851
1852.
40,938,109
22,757,526
2,552,017
66,247,652
63,281,192
1,091.36
2.985,806
4,778,299
540,872
8,304,977
4,626,795
3,678,182
2,141,285.1852
1853.
45,355,155
23,591,105
3,515,258
72,461,518
67,553,185
1,217 49
3,441,547
5,883,282
733,453
10 058,282
5,936,697
4,121.585
2,401,096.1853
1854.
51,675,310
27,330,362
3,949,739
82,955,411
78,366,164
1,345.12
3,950.263
7,873,849
832,723
12,656,835
6,852,579
5,804,256
3,125,181.1854
1855.
64,940,983
32,049,629
8,008,894
104,999,506
97,725,285
1,579.94
4,370,930
9,977,776
754,449
15,103,155
7,813,088
7,290,067
3,422,929.1855
Digitized by
1856.
76,288,190
41,996,514
9,935,510
128,220,214
121,269,313
1,950.27
4,371,544
11,681.856
1.136,910
17,190,310
9,459,942
7,730,368
3,705,635-1856
1857.
76,716,948
53,809,638
9,792,913
139,319,499
130,925,595
2,057.42
4,736,141
11,229,173
1,462,204
17,427.518
9,488,953
7,938,565
3,068,363.1857
1858.
79,680,905
60,223.667
6,958.267
146,862,839
135,862,839
2,196.54
4,267,474
10,460,952
1,340,379
16,068,805
8,762,197
7,306,608
1,920,262-1858
1859.
83,050,954
61,327,905
6,723,917
151,102,776
139,729,118
2,349.68
4,789,032
11,983,456
1,083,312
17,855,800
10,073,418
7,782,382
2,497,281
Google
30
y.
828,897,339
448,202,088
65,922,620
1,343,022,047
1,250,231,261
22,178.13
48,546,313
100,709,251
10,734,337
159,989,901
88,439,362
71,550,539
32,817,300
30
y.
Aver.
27,629,911
14,940,069
2,197,421
44,767,401
41,677,709
739 27
1,618,210
3,356,975
357,811
5,332,997
2,947,979
2,385,018
1,093,910
Av.
NOTE-The cost of the State Railroads in the above table has been considered as so much dividend-paying capital, yielding 5 per cent. per annum. This ceased on the transfer of
the roads to the Pennsylvania Railroad Company in 1857. in which year only 6 months' dividend is charged. The railroads belonging to mining companies, and which are simply
accessary to the business of mining are not included in the puble. Such RTO the Beaver Meadow, the Barclay, the roads of the Lehigh Navigation Company. Pittsburg, Fort
Wayne and Chicago Bailroad, and the Phila., Wilm. and Baltimore Railroad are treated as Pennsylvania works, while the Northern-Central is included among the Maryland roads.
423
424
PENNSYLVANIA-ALLEGHANY VALLEY.
RAILROADS OF THE STATE IN DETAIL.
ALLEGHANY PORTAGE RAILROAD.
(See Public Works of Pennsylvania.)
ALLEGHANY VALLEY RAILROAD.
(Financial year ending 30th January, 1860.)
BOARD OF DIRECTORS AND OFFICERS, 1860-61.
Hon. Wm. F. Johnson
Pittsburg, Pa.
George Black
Pittsburg, Pa.
James B. Murray
"
"
Addison Leech
Armstrong Co., "
T. J. Brereton
"
"
Patrick Kerr
Clarion Co., "
FELIX R. BRUNOT, President
Pittsburg, Pa.
JAMES GIBSON, Treasurer and Secretary
"
"
R. F. MORLEY, Superintendent
"
"
PRINCIPAL OFFICE
PITTSBURG, Alleghany Co., Pa.
LENGTH OF RoAD-Pittsburg to Kittaning
45 miles.
Second track, including sidings, etc., 51 miles.
ROLLING STocK-Locomotive engines
4
:-Passenger, 6; baggage and freight, 22 ; coal, 75
103
The Alleghany Valley Railroad Company was chartered on the 14th April,
1851, and authorized to construct a railroad from Pittsburg to the State
line of New York, a distance of 176 miles. The Company was organized
on the 12th February, 1852. On the 17th March, 1853, the work of con-
struction was commenced. On the 23d April the city of Pittsburg sub-
scribed 8,000 shares of the capital stock of the Company. In addition to the
subscription of Pittsburg, Alleghany county subscribed 15,000 shares, Arm-
strong county 3,000 shares, and Jefferson county 1,800 shares-making in
all 27,800 shares, or $1,390,000 subscribed by municipal bodies and counties.
The division of the road from Pittsburg to Kittaning, 44 miles, was com-
pleted and opened for public use on the 23d January, 1856, at a cost of
$1,500,000. An extension of the road from the depot in Mechanics street,
Pittsburg, to the canal was completed in 1859.
SHARE CAPITAL-Authorized, $3,250,000, in 65,000 $50 shares.
Subscribed by-
Paid in by-
Corporations
$1,693,000
Corporations
$1,300,000
Individuals
380,000
Individuals
360,000
By an act approved 23d April, 1857, the Company is empowered to issue
a preferred stock to the amount of $250,000; said stock to bear interest as
may be agreed upon not exceeding 12 per cent. per annum, and to be ap-
plied exclusively to the extension of the work to the Pennsylvania Canal at
Pittsburg, and to Mahoning, in Armstrong county-the stock to be at
first offered to the present stockholders, and be at their refusal for such
period as may be designated-
FUNDED DEBT-$400,000 described as follows—
1st Mortgage, 7 per cent., coupon bonds
$400,000
-dated 1st July, 1855, and payable, principal in 20 years, and coupons semi-
annually, 1st Jan. and 1st July, at Pittsburg and Philadelphia.
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PENNSYLVANIA-ALLEGHANY VALLEY.
425
The municipal bonds, guaranteed by the Company, are as follows
Amount
Amount
Municipalities
Rate Date of Date of
Interest
Where
provided.
Issued.
by which issued.
of
int.
issue.
maturity.
payable.
payable.
$750,000
$750,000
Alleghany County,
6
1853
1873
Nov. and May,
New York City
400,000
400,000
Pittsburg City,
6
1853
1873
Nov. and May,
New York City'
150,000
not
~~
Armstrong County,
6
1853
1873
Nov. and May,
New York City.
90,000
sold.
Jefferson County,
6
1853
1873
Nov. and May,
New York City.
The interest on the Company's bonds has been paid with the exception.
of $12,880. The subscription bonds of Alleghany county and the city of
Pittsburg have been repudiated, and the interest on them has remained
unpaid since and including 1857. Their validity has been established by the
Supreme Court of Pennsylvania, but this tribunal has not up to the present
time been able to compel the City Council to levy a tax for the purpose of
paying the interest.
FLOATING DEBT-$36,089.
CosT OF ROAD AND EQUIPMENT-$1,765,300 : in detail as follows—
Construction account
$1,700,000 I Equipment
$65,300
INCOME ACCOUNT FOR THE YEAR ENDING 31sT JANUARY, 1860.
Receipts-
Disbursements-
Passenger earnings
$52,654
Cash overdrawn 1st February, 1859
$91
a
Freight
"
31,311
Repairs and operations
33,582
Mail
"
3,150
Extraordinary repairs
7,229
Extension to Canal
7,067
$87,115
Interest on funded debt
15,231
Not collected
5,046
Interest and discount on notes
2,481
Company's notes, 1859
7,044
Receipts from earnings
82,069
Salaries of officers
3,614
Premium on silver
12
Miscellaneous
5,260
Balance overdrawn
338
Total
$82.419
Total
$82,419
BALANCE SHEET OF ACCOUNT CURRENT, 1ST FEBRUARY, 1860.
Dr.
Cr.
Office and incidental expenses
$1,064
Balance due
$13,098
Printing, stationery and advertising
1,497
Rent of outer depot grounds
1,154
Taxes, 1859
424
Salaries of officers (unpaid)
1,402
Real estate, fencing, right of way, etc.
23,699
Balance on running expenses
1,367
Road and bridge expenses, etc
17,610
"
right of way
3,296
Rolling stock and repairs
61,931
"
due sundries
3,283
Shops and wages of mechanics
6,186
Bills payable
31,213
Depot and station expenses
1,230
Passenger and freight account
80,171
Wages of engineers, firemen, etc
6,985
Sale of 10 Mortgage bonds
5,000
Fuel: wood $4,731, and coal $476
5,207
Cash overdrawn
338
Agents, clerks, warehousemen, etc
3,976
1,123 shares for interest, etc
56,150
Coupons, January and July, 1859
15,231
Scrip shares for interest, etc
6,105
Interest, discounts. commissions, etc
8,822
Alleghany Valley Railroad
7,510
Salaries of officers (paid and unpaid)
4,970
Sundry and profit and loss accounts
4,444
Interest on stock to 1st February, 1860
46,087
Total
$210,087
Total
$210,087
COST, EARNINGS, EXPENSES, ETC., YEARLY.
Cost of
Mile-
Gross Earnings
Operating Earnings,
Div
Year. Road, etc.
age.
Pass'er.
Freight.
Mails, etc.
Total.
expenses.
less exp.
$
p.c.
1856
$1,715,000
44
$48,484
$23,091
$1,575
$73,150
$36,575
$36,575
nil.
nil.
1857
1,725,000
44
54,871
26,040
3,150
84,061
42,031
42,030
"
"
1858
1,750,000
44
50,069
21,698
3,150
74,917
37,459
37,458
"
"
1859
1,765,300
45
52,654
31,311
3,150
87,115
47,878
39,237
"
"
4 yrs
6,955,300
177
206,078
102,140
11,025
319,243
163,943
155,300
"
"
Aver
1,738,825
44
51,519
25,535
2,756
79,810
40,985
38,825
"
"
54
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426
PENNSYLVANIA-BARCLAY.
ALLENTOWN RAILROAD.
The Allentown Railroad Company was chartered on the 19th April, 1853,
with authority to construct a road from Allentown to any point on the Phila-
delphia and Reading Railroad, between Reading and Port Clinton. The
design of the Company is to form with the Schuylkill and Susquehanna
and connecting roads, an east and west through route via Easton and
Harrisburg. The amount expended in construction has been $237,840 for
real estate, $16,106; engineering and agencies, $50,749 right of way,
$19,817; other expenses, $17,222. The receipts have been as follows :-
from capital stock, $304,118; bills payable, 25,982; other sources, $11,624.
The work of construction is now suspended.
BARCLAY RAILROAD.
(Financial year ending 31st December, 1859.)
GEORGE R. OAT, President
Philadelphia, Pa.
HARVEY SHAW, Treasurer and Secretary
"
"
JAMES MACFARLANE, General Superintendent
Towanda,
"
PRINCIPAL OFFICE
N. W. corner Walnut and 4th Streets, PHILADELPHIA, Pa.
LENGTH OF Road-Towanda to Barclay Coal Mines
16.50 miles.
Second Track, none. Sidings, turnouts, etc., 1.93 mile.
ROLLING STocK-Locomotive engines.
2
Cars :-Passenger, 1; coal cars, 110
111
The Barclay Railroad and Coal Company was chartered on the 3d April,
1854, and organized in April, 1855. The road was formally opened for
business on the 8th October, 1856. The Barclay property is situated in
Franklin township, Bradford county, and consists of 2,000 acres of coal
land. The canals giving outlet to market were not in condition until 1859, in
which year about 30,000 tons of coal were shipped. The Company both
mines and ships the coal.
SHARE CABITAL-Authorized, $600,000, in 12,000 $50 shares.
Paid in, . $582,700, in 11,654
"
FUNDED DEBT-$450,000 : classified as follows—
1st Mortgage, 7 per cent., bonds
$150,000
-dated 1st March, 1856, and payable, principal 1st March, 1866, and inter-
est semi-annually 1st March, and 1st September, at Philadelphia.
2d Mortgage, 7 per cent., bonds
$300,000
-dated 1st March, 1857, and payable, principal 1st March, 1859, and inter-
est semi-annually 1st March, and 1st September, at Philadelphia.
COST OF ROAD AND EQUIPMENT-$261,609 as follows—
Road and appurtenances
$217,406 I Equipment
$44,203
GENERAL STATEMENT, 1ST January, 1860.
Dr.
Cr.
Railroad
$217,406
Share capital
$582,700
Equipment
44,203
Funded debt
450,000
Real estate
429,860
Floating debt
25,000
Balance not accounted for
366,231
Total
$1,057,700
Total
$1,057,700
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PENNSYLVANIA-BEAVER MEADOW.
427
ATLANTIC AND GREAT WESTERN RAILROAD.
(Financial year ending 1st January, 1860.)
BOARD OF DIRECTORS AND OFFICERS, 1860-61.
G. Church
Meadville, Pa.
John MeFarland
Meadville, Pa.
J. S. Shryock
"
"
L. D. Williams
"
"
John Dick.
"
"
Marvin Kent
Franklin Mills, O.
Geo. A. Bittenbenner
"
"
J. Coffenlerry
Cleveland, "
Jas. E. McFarland
"
"
E. Chamberlain
Akron,
"
O. Hastings.
"
"
William Reynolds
Meadville, "
WM. REYNOLDS, President
Meadville, Pa.
J. R. DICK, Treasurer
"
"
J. HILL, Chief Engineer
"
"
PRINCIPAL OFFICE
MEADVILLE, Crawford Co., Pa.
LENGTH OF ROAD-In progress
88 miles.
The Atlantic and Great Western Railroad Company was chartered in 1858, as
the successor of the Meadville Company. It is designed as a link in a line
of railroad under the same name, lying partly in the States of New York,
Pennsylvania, and Ohio-the whole to form one line of uniform (6 feet)
gauge from the Erie Railroad to Dayton in Ohio. The work of construction
of the Pennsylvania portion of the line has only been recently commenced.
SHARE CAPITAL-Subscribed, $293,000.
FUNDED DEBT-$250,000 described as follows-
1st Mortgage, 7 per cent., coupon bonds
$250,000
-dated 1st October, 1858, and payable in 20 years; interest payable on the
1st April and 1st October, in New York. The companies, the roads of
which compose the above line, have mutually guaranteed the bonds issued
by each.
BEAVER MEADOW RAILROAD.
WM. W. LONGSTRETH, President
Philadelphia, Pa.
L. CHAMBERLAIN, Treasurer
"
"
A. G. BRODHEAD, Superintendent
Mauch Chunk, "
PRINCIPAL OFFICE
PHILADELPHIA, Pa.
LENGTH OF ROAD-Mauch Chunk to the coal mines
20.47 miles.
Second track, 18.6 miles. Sidings, 5 miles.
ROLLING STOCK-Locomotive engines
15
:-passenger, 2; freight and baggage, 4; coal, 1001
1007
The Beaver Meadow Railroad Company was chartered in 1830. Its construc-
tion was commenced in 1835, and completed in 1836. It connects the Lehigh
Canal and the Lehigh Valley Railroad with what are termed the Beaver
Meadow Coal Fields. It is exclusively employed in the transportation of
coal, and is the principal outlet for the Upper Lehigh coal basin.
The company publishes no reports, and declined to make any statement of
its affairs. The only information to be obtained in reference to them is the
report made to the Auditor General, in obedience to a recent law of the
State. From this statement it appears that the cost of the road was $966,791;
the equipment $260,000. The receipts the past year were-freight,
chiefly coal, $304,495 passenger $5,557 ; mail, etc., $1,150-total $311,202.
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428
PENNSYLVANIA-CHARTIERS VALLEY.
The operating expenses are not given. The dividends paid were $166,090,
being 12 per cent. on the share capital of the company, $1,410,900. The
number of tons, 2,000 lbs., of coal carried was 800,613.
BELLEFONTE AND SNOW-SHOE RAILROAD.
WILLIAM P. THOMAS, President
Bellefonte, Centre Co., Pa.
LENGTH OF Road-Snow-Shoe Coal Mines to Bellefonte
18.33 miles.
The Bellefonte and Snow-Shoe Railroad Company was chartered on the 24th
March, 1859. The road occupies the route granted, in 1839, to the Alle-
gheny and Bald Eagle Railroad, Coal and Iron Company; and will be used
mainly for the transportation of coal from the mines in Snow-Shoe township,
Centre county, to the iron works of Bellefonte. The road has only been
recently opened, and no report of the company's affairs has yet been published.
BUFFALO, BRADFORD AND PITTSBURG RAILROAD.
(See Buffalo, Bradford and Pittsburg Railroad of New York.)
CATASAUQUA AND FOGLESVILLE RAILROAD.
LENGTH OF ROAD-Catasanqua to Foglesville.
10 miles.
The Catasauqua and Foglesville Railroad Company was chartered on the 20th
April, 1855. The road was completed in 1856, and is used chiefly to carry
iron from the furnaces at Foglesville, etc., to Catasauqua, on the Lehigh.
It is proposed to extend the road to Trexlertown, about 3 miles beyond its
present western terminus.
CHAMBERSBURG AND HAGERSTOWN RAILROAD.
CHAMBERSBURG, GREENCASTLE & HAGERSTOWN RR.
(Soe Franklin Railroad of Pennsylvania.)
CHARTIERS VALLEY RAILROAD.
J. K. MOORHEAD, President
PITTSBURG, Alleghany Co., Pa.
LENGTH OF ROAD-Washington to Pittsburg Junction
26 miles.
The Chartiers Valley Railroad Company was chartered on the 7th February,
1853, for the purpose of forming, at Washington, a connection with the
Hempfield Railroad, then in progress from Wheeling to that place. The
work of construction was commenced soon after, and prosecuted, with some
interruptions, for two or three years, when the company became embarrassed
and all operations were suspended. The line connects with that of the Pitts-
burg and Steubenville Company, several miles west of Pittsburg. No work
has been done since 1856. The amount expended in construction up to the
abandonment of the work was about $200,000. Its share capital was made
up chiefly by the subscriptions of the city of Pittsburg and Allegheny county
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PENNSYLVANIA-CATAWISSA, WILLIAMSPORT AND ERIE.
429
CATAWISSA, WILLIAMSPORT AND ERIE RAILROAD.
(Financial year ending 31st August, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
Samuel V. Merrick
Philadelphia, Pa.
David Salomon
Philadelphia, Pa.
Robert J. Mercer
"
"
William D. Lewis
"
is
Joseph B. Myers
"
"
Joseph Paxton
Catawissa, "
THOMAS KIMBER, Jr., President
Philadelphia, Pa.
JOSEPH R. PAXTON, Secretary
"
"
WILLIAM R. FISHER, Treasurer
"
"
H. A. FONDA, Superintendent
Williamsport,
"
WILLIAM D. LEWIS, Trustee under 1st and 2d Mortgages.
PRINCIPAL OFFICE
PHILADELPHIA, Pa.
LENGTH OF RoAD-Tamaqua Junction to Milton
64 miles.
Second track, sidings, turnouts, etc., about 3 miles.
Leased Roads-Sunbury and Erie, Milton to Williamsport
27
"
Little Schuylkill, Port Clinton to Tamaqua Junction
28
"
Quakake, Summit to Beaver Meadow Railroad
14
"
Beaver Meadow, to Mauch Chunk
13
"
Total length of road operated by company
146 miles.
ROLLING STocK-Locomotive engines
22
Cars :-Passenger 11 ; mail, baggage and express 7; freight 209 ; coal 68 295
The Cutawissa, Williamsport and Erie Railroad Company was chartered under
the title of the Little Schuylkill and Susquehanna Railroad Company, on
the 21st March, 1831. The original purpose of this road was simply to
connect Philadelphia with the North Branch of the Susquehanna, and with
this view a survey had been made in 1827. Upon the organization of the
Company in 1831, the design was enlarged, and a route projected towards
the lakes via Williamsport, Elmira, etc. Little further, however, was done
until 1836, when the United States Bank subscribed $250,000, which, with
$300,000 to $400,000 obtained from individual subscriptions, enabled the
Company to commence construction. The failure of the United States
Bank in 1841 prostrated the work. At that time about $1,500,000 had been
expended in grading a double track from the eastern terminus to Catawissa,
about 48 miles. By an act passed on the 20th March, 1849, the name of the
Company was changed and several concessions made in its charter, and in
1851 and 1852 successful efforts were made to revive the enterprise. Some
$200,000 in stock and $1,500,000 in bonds were disposed of, principally in
New York and with these funds the road was completed as originally
intended, and opened to Catawissa on the 17th July; to Milton, on the 7th
September, and to Williamsport, by means of the Sunbury and Erie Rail-
road, on the 18th December, 1854.
In 1859 the property was placed in the hands of a Receiver, the Company
having failed to pay the interest on its bonds. For the purpose of relieving
it, the following plan for the re-adjustment of its affairs is proposed-The 1st
mortgage is to be foreclosed, and 1st class 7 per cent. preferred stock issued
for the bonds secured by it and the overdue coupons, and for such advances
as have been made for the payment of coupons and for the maintenance of
the property; a common stock tobe issued to the other creditors equal to the
amount of their claims, and to the old stockholders in proportion of one for
every four shares held by them the name of the Company to be changed
to the Catawissa Railroad Company.
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430
PENNSYLVANIA-CATAWISSA, WILLIAMSPORT AND ERIE.
SHARE CAPITAL-Authorized and paid in, $1,700,000, in 34,000 $50 shares.
FUNDED Дввт-$2,271,536: classified as follows—
1st Mortgage, 7 per cent., coupon bonds
$1,500,000
-dated 30th September, 1852, and payable, principal 1st February, 1867,
and interest semi-annually, 1st February and 1st August, at New York.
Chattel, 10 per cent., mortgage bonds
$380,000
-dated 1856 to 1859, and payable, principal 1st May, 1886, and interest
semi-annually, 1st May and 1st November, at Philadelphia.
2d Mortgage, 7 pcr cent., transferable bonds
$339,036
-dated 13th Feb., 1858, payable, principal 1st Feb., 1888, and interest
semi-annually, 1st May and 1st Nov., at Philadelphia. Whole issue $500,000.
Unsecured, 7 per cent., bonds
$38,500
-dated 1st February, 1855, and payable, principal 1st February, 1865, and
interest semi-annually, 1st February and 1st August, at Philadelphia.
Unsecured, 10 per cent., bonds
$14,000
-dated 31st July, 1856, and payable, principal 1st May, 1871, and interest
semi-annually, 1st May and 1st November, at Philadelphia.
FLOATING Девт-$340,631 : classified as follows—
Due for labor and materials.
$69,893
Due connecting roads
$15,986
Bills payable, guaranteed by officers
132,845
Unsecured indebtedness, or secured by
Loans and judgments guaranteed
18,311
insufficient collaterals
103,597
COST OF ROAD AND EQUIPMENT-$4,059,767 : in detail as follows—
Road etc, coal lands, real estate, etc
$3,639,860
Passenger and baggage cars
$28,825
Locomotive engines and tenders
239,106
Freight and coal cars
151,976
INCOME ACCOUNT FOR THE YEAR ENDING 31sT AUGUST, 1859.
Receipts-
Disbursements-
Passenger earnings
$89,222 29
Rents of connecting roads
$59,812.46
Merchandise
"
195,710.47
Running expenses.
66,266.41
Coal
"
28,090.68
Maintenance of road
22,965.54
Mail
"
11,900.00
"
of rolling stock
39,151 15
Sundrys
12,334.27
Stations, office, etc
General expenses
n
58,603.68
Earnings less expenses
90,438.47
Total
$337,257.71
Total
$337,257.71
GENERAL STATEMENT, 31sr AUGUST, 1859.
Dr.
Cr.
Cost of road
$3,639.859.82
Share capital
$1,700,000.00
" of equipment
419,907 66
Funded Debt
2,432,500.00
Materials and fuel
12,324.54
Floating Debt
340,613.44
Debts due to company
64,182 80
Coupons and interest over due
95,596.61
Stocks and bonds
342,737.46
Cash on hand
4,387.16
Net loss on business of 1858-'59
85,328.61
Total
$4,568,758 05
Total
$4,568,728.05
COST, EARNINGS, EXPENSES, ETC., YEARLY.
Cost of
Mile-
Gross Pd. leas'd Earnings Operating Earnings
-Div.--
Year.
Road.
age.
earnings. railroads. C. W.& E. & repairs.
less exp.
$
p.c.
1854
$3,200,000
65.00
$48,062
$9,709
$38,353
$32,791
$5,562
nil.
nil.
1855
3,640,000
65.00
279,055
59,802
219,253
166,803
52,450
"
"
1856
3,722,000
65.00
300,746
70,807
229,939
178,233
51,706
"
"
1857
3,937,152
65.00
379,309
81,811
297,498
189,662
107,836
"
"
185S
3,883,356
65.00
271,665
48,468
223,197
141,725
81,472
"
"
1859
4,059,767
65.00
337,257
59,812
277,445
187,007
90,438
"
"
5 years
22,442,975
390.00
1,616,094
330,409
1,285,685
896,221
389,464
6.
"
Average
3,740,496
65.00
323,219
66,082
257,137
179,244
77,893
"
"
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PENNSYLVANIA-CIESTER VALLEY.
431
CHESTNUT HILL RAILROAD.
(Financial year ending 31st December, 1859.)
OFFICERS OF THE COMPANY, 1859-60.
COFFIN COLKET
President. H. K. SMITH
Treasurer, etc.
PRINCIPAL OFFICE
99 Green street, PHILADELPHIA, Philadelphia Co., Pa.
LENGTH OF RoAD-Germantown to Chestnut Hill
4.16 miles.
Second track, none. Sidings, turnouts, etc., 0.34 mile.
ROLLING STOCK
Furnished by Lessec-
The Chestnut Hill Company was chartered by the Legislature in 1852,
and the road opened for public use to Mt. Airy in July and to Chestnut
Hill in October, 1854. It is operated under a lease, dated 17th March, 1852
by the Philadelphia, Germantown and Norristown Railroad Company, which
pays as rent therefor one-half the gross earnings of the traffic between
Chestnut Hill and Philadelphia until the earnings amount to $17,000 a year
and one-fourth of all earnings above that amount.
SHARE CAPITAL-Authorized, $121,400, in 2,428 $50 shares.
Paid in, - 120,010, on 2,428 $50 shares.
FUNDED DEBT
None.
FLOATING DEBT
$400
COST OF ROAD AND APPURTENANCES-$121,400.
OPERATIONS OF THE Road, YEARLY.
Cost of
Mile-
Miles run
Passengers
Gross
Operating
Earnings
Propor.
Year.
Road.
age.
by tains.
carried.
earnings.
expenses.
less exp.
C.H.R.R.
1854
$121,400
3.00
10,901
27,109
$2,552
$1,690
8862
$1,276
1855
121,400
4.16
25,112
66,577
8,061
6,178
1,883
4,030
1856
121,400
4.16
26,485
111,001
10,123
5,292
4,831
5,062
1857
121,400
4.16
27,282
117,323
10,736
5,987
4,749
5,368
1858
121,400
4.16
26,954
115,943
9,898
5,993
3,905
4,949
1859
121,400
4.16
26,884
131,690
12,436
6,536
5,900
6,218
6 years. 728,400
23.80
143,620
569,643
53,706
31,676
22,130
26,903
Aver
121,400
3.97
23,933
169,881
8,967
5,279
3,688
4,486
CHESTER VALLEY RAILROAD.
(Financial year ending 31st December, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1860.
Geo. W. Carpenter,
Wm. H. Holstein,
Samuel Hart,
Stephen Coulter,
Coffin Colket,
John F. Gilpin,
Jos. W. Ryerss,
L. E. Corson.
JOHN F. GILPIN, President
Philadelphia, Pa.
CHARLES O'NEILL, Treasurer and Secretary
"
"
PRINCIPAL OFFICE
No. 429 Walnut street, PHILADELPHIA, Pa.
LENGTH OF RosD-Bridgeport to Downingtown
21.50 miles.
Second track, none. Sidings, turnouts, etc., 1.50 miles.
ROLLING STOCK
Supplied by Philadelphia and Reading Company
The Chester Valley Railroad Company was chartered on the 22d April, 1850.
The Company succeeded to the Norristown and Valley Railroad Com-
pany under a re-organization, the Company having already graded
the line. The stock of the old Company was exchanged at one-half
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432
PENNSYLVANIA-CHESTER VALLEY.
its par value, and its bonds and other indebtedness were converted into the
stock of the new Company at their par value. The construction of the pre-
sent work was commenced in 1852, and the road opened for business on the
12th September, 1853. From that date to the 1st January, 1859, the line
was operated by the Philadelphia, Germantown and Norristown Company,
which charged therefor 70 cents for each mile run by trains. On the termi-
nation of this agreement, the rent was leased for five years to the Philadel-
phia and Reading Company at a cost of 40 per cent. of the gross receipts.
The road has proved almost entirely unproductive, and the company has
paid only one coupon on its bonds since 1854. On the 22d June, 1855, all
the net earnings of the road were ordered by the United States Circuit
Court, to be paid over to the bondholders. The total amount deposited un-
der this order amounted, on the 31st December, 1859, to $27,946. Proceed-
ings are in progress for the foreclosure of the mortgage. The amount of
over-due coupons at the last named date, was $192,500. A statement of
the earnings and expenses of the road, for a series of years, was refused.
The net earnings for three and a half years have averaged just about $8,000
per annum.
SHARE CAPITAL-Authorized, $1,000,000, in 20,000 $50 shares.
Paid in, - $871,900, on 17,438 $50 shares.
FUNDED DEBT-$500,000 described as follows—
1st Mortgage, 7 per cent., coupon bonds
$500,000
-dated 1st May, 1852, and payable, principal 1st May, 1872, and coupons
semi-annually, 1st May and 1st October, at Philadelphia. These bonds are
convertible into 8 per cent. Preferred Stock at the option of the holders.
FLOATING Девт—$192,500; being over-due coupons.
COST OF ROAD AND APPURTENANCES-$1,371,900. No detail.
INCOME ACCOUNT FOR THE YEAR ENDING 31sT DECEMBER, 1859.
Receipts-
Disbursements-
Philadelphia, Germantown, and Norris-
Cash paid into U.S. Court
$12,540
town RR. Co., on acct. of late contract.
$666
Attorney's fees
60
Phil. & Read. RR. Co., 40 p. c. of gross
President, Treasurer and Secretary
300
receipts ($30,435) as per contract
12,174
Sundries
137
Same for December, (3,044)
1,826
Cash in hand.
1,958
Sundries
349
hhhh
Total
$15,015
Total
$15,015
GENERAL STATEMENT, 1ST January, 1860.
Dr.
Cr.
Construction account.
$1,371,900
Share capital
$871,900
Real estate, about
1,000
Funded Debt
500,000
Cash in hands of court
27,946
Overdue coupons
192,500
Balance
164,154
Other indebtedness
600
Total
$1,565,000
Total
$1,565,000
CLEVELAND, PAINESVILLE AND ASHTABULA RAILROAD.
(See Cleveland, Pginesville and Ashtabula Railroad of Ohio.)
CLEVELAND AND PITTSBURG RAILROAD.
(See Cleveland and Pittsburg Railroad of Ohio.)
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PENNSYLVANIA-CUMBERLAND VALLEY.
433
CUMBERLAND VALLEY RAILROAD.
(Financial year ending 30th September, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
George Cadwalader,
Henry J. Biddle,
Daniel Tyler,
Daniel 0. Gehr,
Josiah Bacon,
James M'Cormick,
John Hulme,
W. M. Henderson,
Wm. B. Foster, Jr.,
Washington Butcher,
Thomas B. Kennedy,
Thomas A. Biddle.
FRED. WATTS, President; E. M. BIDDLE, Treas. and Sect
Carlisle, Pa.
O. N. LULL, Superintendent
Chambersburg, "
PRINCIPAL OFFICE
CHAMBERSBURG, Franklin Co., Pa
LENGTH OF RoAD-Harrisburg to Chambersburg.
52 miles.
Second track, none. Sidings, turnouts, etc., 3.17 miles.
ROLLING STock-Locomotive engines
11
Cars:-passenger, 8, freight and baggage,(8-wheel) 58, and(4-wheel) 10-77
The Cumberland Valley Railroad Company was chartered on the 2d April,
1831. The work of construction was commenced in January, 1836, and the
road completed from Chambersburg to the Susquehanna River, opposite
Harrisburg, 49 miles, in December, 1837. By an act of the Legislature,
approved on the 2d February, 1836, the Company was empowered to con-
struct a bridge across the Susquehanna (4,400 feet), and extend the road
through Harrisburg to the Pennsylvania Canal, about 3 miles beyond the
then eastern terminus, and also to connect with the Harrisburg and Lancas-
ter and other railroads centering at Harrisburg. The road thus constructed
was not remunerative, its receipts being scarcely sufficient to pay expenses
and interest on a debt of about $275,000, which had gone into construction,
and to which was to be added the debt created on account of the bridge and
extensions, making the entire debt $423,215. The stock paid in at this time
was $472,000. In 1849 it was resolved to re-construct the road and iron it
with a heavy T rail, for which purpose authority had been obtained by an
act passed on the 15th February, 1848. The holders of the debt agreed to
advance the necessary means ($400,000), and the Company was re-organized
by the creation of a Preferred Stock equal in amount to the whole debt and
advance. The work was commenced and completed during the following
year, at which date the total cost amounted to $1,212,912, represented in
capital by $360,000 in 1st Preferred Stock, $352,500 in 2d Preferred Stock,
$472,000 in old stock, and $28,412 in debt. Subsequent improvements and
additional equipment have been mainly paid for from earnings, and the capital
account stands at this time materially as at the end of 1850. By an act of
the Legislature, passed in 1856, the conversion of the Preferred Stock into
8 per cent. bonds was authorized, the option being with the holders. The
amount converted under this act to date is $245,500.
SHARE CAPITAL-Authorized, $1,250,000, in 12,500 $100 shares.
Paid in, - $981,900, viz.: 1st class Preferred, $259,400;
2d class Preferred, $250,500, and Common, $472,000. The Preferred Stock
calls for an 8 per cent. dividend, which has been regularly paid.
FUNDED DEBT-$245,500: classified as follows-
1st Mortgage, 8 per cent., coupon bonds
$143,500
2d Mortgage, 8 per cent., coupon bonds
$102,000
-dated 1st October, 1856, and payable, principal 1st October, 1904, and
coupons semi-annually, 1st April and 1st October, at Philadelphia.
55
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PENNSYLVANIA-CUMBERLAND VALLEY.
COST OF Rosp-$1,225,972. No detail.
INCOME ACCOUNT FOR THE YEAR ENDING 30TH SEPTEMBER, 1859.
Receipts-
Disbursements-
Passenger earnings
$67,886
Operating expenses and repairs
$62,049
Freight
"
96,040
Renewal of Harrisburg bridge
12,765
Mail
"
5,200
Sundries
3,583
Rents
857
Dividend
64,520
Interest
526
Interest on bonds
18,780
Assets and materials sold
2,106
State tax on dividends and stocks
3,137
Tolls due
9,058
Cash on hand
50,606
Total
$224,498
Total
$224,498
GENERAL LEDGER BALANCE SHEET, 1ST OCTOBER, 1859.
Dr.
Cr.
Road and appurtenances
$1,225,972
Share capital
$981,900
Assets
1,343
Funded Debt
213,500
Due from tolls
9,058
Dividend due 1st October, 1859
39,016
Bills receivable
1,300
Interest on bonds due 1st October, '59
9,520
Materials on hand
10,915
Unclaimed dividends
907
Cash on hand
50,606
Due for materials and labor
3,080
Contingent Fund
7,751
Profit and Loss
10,005
Bridge Renewal Fund
8,215
Total
$1,299,194
Total
$1,299,194
STATEMENT OF THE FINANCIAL CONDITION OF THE COMPANY ON 30TH SEPT.
1852.
1853.
1854.
1855.
1856.
1857.
1858.
1859.
Resources-
$
$
$
$
$
$
$
$
Road & equipt
1,212,912
1,220,548
1,258,711
191,834
1,215.642
1,226,675
1,226,675
1,225.972
Materials for use.
8,831
9,795
13,278
11,271
8,602
10,325
10,883
10,915
Do
for sale.
9,973
4,437
1,174
436
2,101
1,680
1,585
1,343
Cash items
33,878
37,237
33,955
46,220
50,753
44,477
53,183
60,064
Liabilities-
Funded Debt-
First Mortgage.
26,509
13,000
10,000
36,500
116,500
143,500
Second
"
41,500
97,000
102,000
Stock, Preferred-
First class
360,000
260,000
360,000
380,000
393,700
366,400
286,400
259,400
Second class
352,500
352,500
352,500
357,050
352,500
311,000
255,500
250,500
Common stock
472,000
472,000
472,000
472,000
472,000
472,000
472,000
472,000
Interest and div.
payable in Oct.
28,500
28,500
28,500
28,500
33,251
38,462
42,342
42,743
Profit and Loss
18,788
48,564
77,278
18,937
7,178
17,114
25,971
Other liabilities
5,856
7,447
6,840
12,212
6,610
12,641
5,470
3,080
Total
1,265,144
1,282,009
1,307,118
1,249,761
1,277,098
1,285,682
1,292,326
1,299,194
Cost, EARNINGS, EXPENSES, ETc., YEARLY.
Cost of
Mile-
Gross Earnings
Operat'g
Earn'gs,-Dir.*-
Year.
Road, etc.
age.
Pass'r.
Freight. Mail.
Total.
expenses.
less
exp.
s
p.e.
1850
$1,187,750
52.00
$35,839
$41,198
$15.719
$92.756
$46,261
$46,495 nil. nil.
1851
1,205,822
52.00
43,865
51,905
13,717
108,887
44,547
64,340
"
"
1852(9 mos.)
1,212,912
52.00
33,583
53,971
17,163
104,717
53,999
50,718
"
"
1853
1,230,548
52.00
52,619
77,913
10,675
141,207
73.062
68,145
"
"
1854
1,258,711
52.00
59,946
82,093
14,301
150,340
98,681
57,659
"
"
1855
1,191,834
52.00
63,620
77,005
6,786
147,411
100,939
46,472
"
"
1856
1,215,642
52.00
63,564
90,751
7,168
161,483
132,271
29,212
"
"
1857
1,226,675
52.00
68,613
114,321
6,492
189,426
137,991
51,435
"
.4
1858
1,226,675
52.00
61,775
88.649
6,039
156,463
70,184
86,279
"
"
1859
1,225,974
52.00
67,886
96,040
6,583
170,509
74,814
95,695
"
"
10 years.
$12,182,541
520.00
$551,310
$773,846
$104,043
$1,429,199
$832,749
$596,450
"
"
Average.
1,218,254
52,00
55,131
77,384
10,404
142,920
83,275
49,645-
"
"
# No dividends have been paid on Common Stock.
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PENNSYLVANIA-DELAWARE, LACKAWANNA AND WESTERN.
435
DELAWARE, LACKAWANNA AND WESTERN RAILROAD.
(Financial year ending 31st December, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1860.
Drake Mills
New York, N.Y.
Henry Young
New York, N.Y.
John J. Phelps
"
"
Charles H. Marshall
"
"
David S. Dodge
"
"
Sam. L. Mitchell
"
"
Moses Taylor
"
"
Rufus R. Graves
"
"
Geo. W. Scranton
Scranton, Pa.
Lowell Holbrook
"
"
John I. Blair
Blairstown, N.J.
Simeon B. Chittenden
"
"
Geo. Buckley
New York, N.Y.
Samuel Wetmore
"
"
CHRISTOPHER R. ROBERT, President
New York City, N.Y.
RUFUS R. GRAVES, Vice-President
"
"
"
ANDREW J. ODELL, Treasurer and Secretary
"
"
"
JOHN BRISBIN, Superintendent
Scranton, Pa.
JAMES ARCHBALD, Chief Engineer
"
"
PRINCIPAL OFFICE
NEW YORK CITY, New York Co., N.Y.
LENGTH OF Road-Northern Division, Scranton to Great Bend
62.9 miles.
Southern Division, Scranton to Delaware
47.8
"
Keyser Valley Branch
2.8
"
New York and Erie, Great Bend to Owego
37.0
"
Leased or used.
-
Cayuga Division, Owego to Ithaca
34.6
"
Warren Railroad, Delaware to Clarkesville
18.7
"
Central RR. of N. Jersey, Clarksville to Elizabethtown
47.4
"
Total length operated by Company
251.2 miles.
Second track, 5 miles; sidings, switches, turnouts, etc., 36 miles.
ROLLING STocK-Locomotive Engines
72
Cars:-Passenger, 17 baggage and express, 5
22
House-freight, 138 platform, 231
369
Coal (8-wheel), 260; (3-wheel) 3,050
3,310
Wreck, 1; caboose, 21; derrick, 2
24-3,725
The Delaware, Lackawanna and "Western Railroad Company is a consolidation
of two companies, viz. : the Liggitt's Gap, and the Delaware and Cobb's
Gap Railroad Companies.
" Liggitt's Gap Railroad Company" was chartered on the 14th March,
1849, and organized on the 2d January, 1850. Construction was commenced
soon after. In April, 1851, the legislature authorized the Company to change
its legal title to that of Lackawanna and Western. On the 20th Dec., 1851,
its road was opened from Scranton to Great Bend. Previous to this date,
(on the 27th January, 1851,) the Company secured the right to use the
New York and Erie Railroad between Great Bend and Owego, and also a
perpetual lease of the Cayuga and Susquehanna Railroad.
The " Delaware and Cobb's Gap Company" was organized 26th Dec.,
1850, but had made little progress in construction to the date of consolidation.
The union of the two companies was consummated on the 10th Dec., 1853.
The construction of the southern division had been commenced in June pre-
vious, and the whole line was completed on the 27th May, 1856.
On the completion of the Warren Railroad, and the laying of a third rail
on the Central Railroad of New Jersey, the line was opened through to tide-
water at Elizabethport, and the work brought fully into use. The Keyser
Valley Branch was also completed in 1856.
In the fall of 1857 the Company became embarrassed in its financial affairs,
and found itself compelled to execute an assignment of its property. At
a
Digitized by Google
436
PENNSYLVANIA-DELAWARE, LACKAWANNA AND WESTERN.
stockholders meeting, held on the 21st October, the following plan for the
adjustment of the affairs of the Company was adopted :-The stockholders
to subscribe for and take the Income bonds of the Company, payable in 5
years, to the amount of 10 per cent. of stock held by them, or to surrender
to trustees one-half of their stock the stockholders in the Warren (leased)
road to reduce their rental from 7 to 54 per cent.; the Cayuga and Susque-
hanna Company to reduce their rental from $70,000 to $54,600 the holders
of the first mortgage to convert, at par, one year's interest into Income
bonds, payable in 5 years; the holders of the second mortgage bonds to
convert, at par, two years interest into Income bonds, payable in 5 years;
the preferred creditors under the assignment, to convert their claims, at par,
into the Income bonds of the Company, payable in 5 years, or to extend the
time for their payment; the unsecured creditors to convert their claims into
10 year bonds at par. Stockholders to the amount of $3,000,000 made the
required payment of 10 per cent., and holders to the amount of $83,900
surrendered one-half of the same. The total amount of bonds and notes
issued under the settlement amounted to about $2,000,000. In the latter
part of April, 1858, the plan of settlement having been fully complied with,
the assignment was raised and the Board of Managers resumed the direction
of the Company's affairs.
The relations of the Delaware, Lackawanna and Western Railroad Com-
pany with connecting lines are as follows:
Central of New Jersey.-The contract with this Company is dated 23d January,
1854, and stipulates for the payment by the Delaware, Lackawanna and Western
Company for the use of its road and motive power one cent and a quarter per ton per
mile. The contract is perpetual, but subject to revision every five years.
Warren.-Under a contract dated 27th January, 1854, the Delaware, Lackawanna
and Western Company agreed to pay for the use of the Warren road, a sum equal
to 7 per cent. per annum on its cost. After the failure of the Company, in 1857, the
rate was reduced to 54 per cent. Should the earnings of its road warrant it. the
Delaware, Lackawanna and Western Railroad Company propose to pay, for the future,
the rental first agreed upon.
Cayuga and Susquehanna.-A perpetual lease of this road was executed to the Del-
aware, Lackawanna and Western Company on the 1st January. 1855 the lessee
agreeing to operate and keep it in repair, and pay for its use $70,000 per annum.
On the adjustment of its affairs in 1858, the rent was reduced from $70,000 to
$54,600 per annum.
New York and Erie.-The Delaware, Lackawanna, and Western Company, under
an agreement dated 27th January, 1851, pay for the use of the New York and Erie
road, between Great Bend and Owego, a sum equal to one cent and a half per ton
per mile drawn over the road, the Erie Company supplying motive power.
Syracuse, Binghamton, and New York.-In 1857, я contract was made with this
company whereby the Delaware, Lackawanna and Western Company agreed to
transport, for the first year, 75,000 gross tons of coal over this road, and at least
100,000 gross tons annually thereafter. and supply the necessary cars and locomo-
tive power for this purpose, and fuelafterthree years; the Syracuse, Binghamton
and New York Company furnishing track and water for locomotive engines, and to
receive for the use of the same one cent per ton per mile of coal transported. The
contract is perpetual, but subject to revision every five years; the dues to be paid
to be increased or diminished as cost of maintenance of track, etc., should be in-
creased or reduced.
SHARE CAPITAL-Authorized, unlimited, in $50 shares.
Paid in, $3,360,250, in 67,205 full shares.
Digitized by Google
PENNSYLVANIA-DELAWARE, LACKAWANNA AND WESTERN.
437
FUNDED DEBT-$6,319,528: described as follows—
1st Mortgage, 7 per cent., coupon bonds
$900,000
-dated 1st July, 1851, and payable, principal 1st July, 1871, and coupons
semi-annually, 1st January and 1st July, in New York City. Secured by
a mortgage on the Lackawanna and Western, or that portion of the road
between Scranton and Great Bend, and the coal lands of the Company.
1st Mortgage, 7 per cent., coupon bonds
$1,500000
-dated 1st January, 1855, and payable, principal 1st April, 1875, and
coupons semi-annually, 1st April and 1st October, in New York City. Se-
cured by mortgage on the Eastern Extension or that portion of the road
between Scranton and the Delaware.
2d Mortgage, Construction, 7 per cent., coupon bonds
$2,600,000
-dated 1st April, 1856, and payable, principal 1st March, 1881, and
coupons annually, 1st March and 1st September, in New York City.
Secured by a 2d mortgage on the whole road and property of the Company.
Income 7 per cent., convertible bonds
$525,687
-dated 1st December, 1857, and payable, principal 1st December, 1862, and
interest semi-annually, 1st June and 1st December, in New York City.
Income 7 per cent., convertible bonds
$29,000
-dated 1st December, 1857, and payable, principal 1st December, 1865, and
interest semi-annually, 1st June and 1st December, in New York City.
Income 7 per cent., convertible bonds
$764,841
-dated 1st December, 1857, and payable, principal 1st December, 1867, and
interest semi-annually, 1st June and 1st December, in New York City.
SINKING FUNDS.
A fund was established in pursuance of the settlement of 1857, under
which the Income bonds were issued, and which will retire them at maturity.
There had been retired under its operation to the 31st December, 1859,
$166,128, viz. : of the bonds of 1862, $49,937; of 1867, $74,191, and of 1881,
$42,000. On the 1st April, 1860, a sinking fund will be commenced for the
payment of the Eastern Extension 1st Mortgage bonds of 1875, of $55,000
annually, to be invested in the bonds, the interest on which is to go to the
fund.
FLOATING DEBT-$516,152, viz. : bills, $175,883, and accounts, $340,269.
TRANSPORTATION ACCOUNT FOR THE YEAR ENDING 31sT DECEMBER, 1859.
Receipts-
Disbursements-
Passenger transportation
$124,098
Transportation expenses
$687,111
Merchandize
"
310,857
"
net revenue.
1,062,436
Coal
"
1,280,657
Mail
"
9,805
Use of rolling stock
21,612
Telegraph, rents, storage
2,518
Total
$1,749,547
Total
$1,749,547
COAL ACCOUNT FOR THE YEAR ENDING 31sT DECEMBER, 1859.
Coal on hand, 31st December, 1858
$214,686
Coal sold in 1859
$2,422,066
Coal mined and purchased, 1859
2,526,451
Rents
3,530
Coal on hand, 31st December, 1859
154,411
Loss in coal department
161,130
Total
$2,741,137
Total
$2,741,137
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438
NSYLVANIA-DELAWARE, LACKAWANNA AND WESTERN.
STATEMENT OF SCRANTON COAL SENT TO MARKET YEARLY.
Year.
Company's Lac. Iron Swetland
Clarks N Y & Pa. Luzerne Hampton Nat. Anth. Other
Mines.
& Coal Co. Mines.
Mines. Company. Comp'y.
Mines.
Company.
Mines.
Total.
1851
6,000
6,000
1852
65,825
1,662
67,487
1853
69,042
21,891
6,425
97,358
1854
97,240
28,538
2,820
5.367
133,965
1855
117,367
19,750
51,748
188,865
1856
145,032
20,943
59,749
14,038
22,215
5,674
242
267,893
1857
188,531
34,196
66,799
27,811
34,555
29,997
37,238
419,127
1858
331,394
43,772
81,276
48,485
90,143
85,594
680,664
1859
376,412
Included under the head of Other Mines."
453,022
829,434
9
yrs
1,390,843
77,841
108,156
264,939
90,334
56,770
5,674
120,382
575,854
2,690,793
PROFIT AND Loss ACCOUNT FOR THE YEAR ENDING 31sT DECEMBER, 1859.
Cr.
Dr.
Balance from 1858
$371,364
Interest on bonds
$438,738
Transportation, net revenue, 1859
1,062,436
Interest on Warren RR. stock 52,335
Interest on Warren Railroad stock
17,704
"
on Warren RR. bds 40,453-
92,790
Interest on Lacka. and Bloom. bds.
3,500
Credited to Renewal Fund
100,000
Income from other sources.
3,565
Loss on coal, etc
173,911
Balance
598,529
Total
$1,458,569
Total
$1,458,569
GENERAL STATEMENT, 1ST JANUARY, 1860.
Dr.
Cr.
Construction and equipment
$8,945,293
Capital stock, paid in full*
$3,360,250
Cost of coal lands and improvements
453,958
Scrip stock
623
Value of materials on hand
152,179
M'tge bonds of 1871, outstanding+
900,000
Coal on hand
154,441
"
"
1875,
"
1,499,000
Revenue Fund Assets
426,450
"
"
1881,
"
2,583,500
Stock of Lack. and Bloom. RR. Co
132,450
Income bds. of 1862,
"
173,380
" of Washington Mills
9,500
"
"
1865,
"
29,000
Bills and accounts receivable
488,556
"
"
1867,
"
733,950
Cash on hand
41,226
Certificates payable in income bds.
Cost of coal yards
3,457
of 1862
52,493
" of vessel property
47,295
"
"
"
1867
31,348
Advance on coal expenses for 1860
48,468
Int. on bonds accrued and unpaid
145,674
Paid for lands held in trust.
8,925
Int. on stock
"
"
4,070
Suspense account
51,225
Unpaid rent of Warren Railroad
30,521
Scrip Atlantic Mutual Ins. Co
670
Bills and accounts payable
339,852
Sinking fund, amount expended
127,584
Renewal Fund
410,144
Mortgage and income bonds on hand
94,304
Fractional certfs. of Warren RR. st'k
2,618
Income account
598,529
Total
$11,194,951
Total
$11,194,951
COST, EARNINGS, EXPENSES, ETC., YEARLY.
Cost of
Mile-
Gross Earnings
Operating
Earnings,
-Dir.-
Year.
Road, etc.
age.
Pass'rs.
Freight.f
Mails,
Total.
expenses.)
less exp.
s
p.c.
1853
$2,737,839
62.90
$33,675
$156,102
$2,144
$191,921
$95,634
$96,287
70,241
4
1854
4,140,316
62.90
40,685.
204,583
22,137
267,405
127,810
139,595
140,157
5
1855
6,022,667
62.90
64,586
423,626
40,699
528,911
401,541
127,370
180,723
6
1856
8,013,761
113.50
122,960
673,160
19,087
815,207
564,408
250,799
192,248
6
1857
8,762,488
113.50
151,389
1,089,528
42,309
1,283,226
775,047
508,179
nil.
nil.
1858
8,831,707
113.50
115,347
1,286,833
28,332
1,430,512
793,086
637,426
"
"
1859
8,954,593
113.50
124,098
1,591.514.
33,935
1,749,547
934,502
815,045
"
"
7
y'rs.
47,463,071
642.70
652,740
5,425,346
188,643
6,266,729
3,692,028
2,574,701
583,269
Aver.
6,780,139
91.81
93,249
775,049
26,949
895,247
527,433
367,814
83,324
3
# Includes amount surrendered to Trustees t Includes amounts in Sinking Fund I Included
in "Freight," are the earnings from coal transportation, viz.: in 1853. $101,995; in 1854, $127,992;
in 1855, $291,113; in 1856, $386,136; in 1857, $821,277; in 1858, $1,032,999, and in 1859, $1,280.657.
1 Included in "Operating Expenses," are the rents paid to connecting roads, and the appropria-
tions to the Renewal Fund.
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PENNSYLVANIA-ERIE AND NORTH EAST.
439
EAST PENNSYLVANIA RAILROAD.
(Financial year ending 31st December, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
E. K: Alburtis
New York, N.Y.
Horatio Trexler
Reading, Pa.
Geo. W. McLean
"
"
C. H. Hunter
"
"
Benj. Williams
New Jersey, N.J.
John J. Richards
"
6.
Edward Brooke
Birdsboro, Pa.
Hiester Clymer
"
"
EDWARD M. CLYMER, President
Reading, Pa.
J. N. H. FISHER, Treasurer
"
"
L. C. VOORHIES, Superintendent
"
"
PRINCIPAL OFFICE
READING, Berks Co., Pa.
LENGTH OF RoAD-Reading to Allentown
36 miles.
Sidings, 24 miles.
ROLLING STOCK-Locomotive engines
6
Cars :-passenger, 2; baggage and mails, 1; freight, 56
59
The East Pennsylvania Railroad Company was chartered on the 9th June,
1856. The construction of the road was commenced on the 11th June,
1857, and completed on the 11th May, 1859. It is only recently that the
road has been opened as a portion of a through line between New York and
Harrisburg, Pa.
SHARE CAPITAL-Authorized, $500,000. Paid in, $450,000.
FUNDED Девт-$600,000: in detail as follows:-
1st Mortgage, 7 per cent., coupon bonds
$600,000
-dated 15th March, 1858, and payable, principal 1st March, 1888, and inter-
est semi-annually, 1st March and 1st September, in New York and Reading.
The sum of $15,000 is to be annually set apart as a sinking fund for the
purchase and cancellation of these bonds.
COST OF ROAD AND EQUIPMENT-$1,100,000.
No report has been made by the Company since the completion of the
road, and no income account or general statement can be given.
ERIE AND NORTH EAST RAILROAD.
(Financial year ending 30th September, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
Dean Richmond
Batavia, N.Y.
A. Scott
Erie, Pa.
M. Courtwright
New York, "
P. Metcalf
"
"
J. H. Walker
Erie, Pa.
W. L. Scott
"
"
JOHN A. TRACY, President
Erie, Pa.
J. C. SPENCER, Treasurer
"
"
R. N. BROWN, Superintendent
Buffalo, N.Y.
PRINCIPAL OFFICE
ERIE, Erie Co., Pa.
LENGTH OF ROAD-Erie to the New York State Line
18.50 miles.
Sidings, 4 miles.
ROLLING STocK-Locomotive engines
10
Cars :-passenger, 30 freight and baggage, 375
405
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410
PENNSYLVANIA-ERIE CITY.
The Eric and North East Railroad Company was chartered on the 22d April,
1842. The work of construction was commenced in 1849, and the road
opened to the public on the 19th January, 1852. It was constructed with a
gauge of six feet in expectation that the Buffalo and State Line Company
would adopt a similar one. That Company adopted the Ohio gauge of four
feet ten inches.
To remedy the inconvenience of a break of gauge the two companies
agreed to make it uniform from Buffalo, adopting the Ohio gauge, and to
run both roads as one line, and to pay the same rate of dividends to the
stockholders of each-in effect to consolidate the two roads. It was the
carrying out of this agreement that led to the Erie riots, in which a portion
of the track of this road was destroyed, and the running of the road for a
time interrupted. The matter was finally compromised by a subscription on
the part of the Erie and Northeast Railroad Company of $400,000 to the
share capital of the Erie and Pittsburg; and by the subscription on the part
of the Cleveland and Erie Railroad of $500,000 to the share capital of the
Sunbury and Erie Railroad-the Legislature of the State of Pennsylvania
confirming upon these conditions, the rights of the two companies, to the
chartered privileges claimed by them.
SHARE CAPITAL-Authorized and paid, $600,000.
In 1857, an act was obtained from the Legislature of New York, anthoriz-
ing the Buffalo and State Line to lease, or purchase, by exchange of stock
or lands, the Erie and North East Railroad. Under this act, nearly all the
share capital of the Erie and the North East has been exchanged for that of
the Buffalo and State Line Railroad. Bonds have also been exchanged to
the amount of $149,000.
FUNDED Девт—$400,000; in detail as follows—
1st Mortgage, 7 per cent., coupon bonds
$400,000
-dated 1st June, 1857, and payable, principal 1st June, 1870, and interest
seni-annually, 1st June and 1st Dec., at New York. Of these bonds, $149,000
have been exchanged for bonds of the Buffalo and State Line Railroad.
COST OF ROAD AND EQUIPMENT OF Main LINE-$700,000,
This does not embrace the amount invested in the Erie and Pittsburg RR.
INCOME ACCOUNT.
This road being operated by the Buffalo and State Line Railroad as a part
its own line, its earnings and expenses are embraced in those for that road.
The same dividends have been paid by the two companies.
EAST MAHONOY RAILROAD.
WM. C. PATTERSON, President
Philadelphia, Pa.
ARCHIBALD McINTYRE, Treasurer
"
The East Mahonoy Railroad Company was chartered on 21st April, 1854.
Its object is to extend the line of the Little Schuykill Company's railroad to
the East Mahoney coal field, and the road is being prosecuted under the
auspices of that company, which has guaranteed 6 per cent. on its cost. Its
authorized share capital is $500,000, of which about $350,000 has been paid
and expended. The chief obstacle on the line of the road is a tunnel through
Broad Mountain of about 3,400 feet. This is nearly completed.
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PENNSYLVANIA-FAYETTE COUNTY.
441
ERIE AND PITTSBURG RAILROAD.
BOARD OF DIRECTORS AND OFFICERS. 1859-60.
Dean Richmond
Batavia, N.Y.
N. Scott
Erie City, Pa.
M. Courtwright
New York City,
"
P. Medcalf.
"
"
J. H. Walker
Erie City, Pa.
A.L.Scott
"
"
JOHN A. TRACY. President
Erie City, Pa.
P. ARBUCKLE, Treasurer
"
"
R. N. BROWN, Superintendent
Buffalo, N.Y.
PRINCIPAL OFFICE
ERIE CITY, Eric Co., Pa.
LENGTH OF Rosp-Completed: Girard Station to Jamestown
40 25 miles.
In progress: Jamestown to Newcastle
40.09 "
ROLLING STOCK
Furnished by the Buffalo and State Line Railroad Company.
The Erie and Pittsburg Railroad Company was chartered as the successor
to the Pittsburg and Erie, on the 15th April, 1858. Towards its con-
struction the Erie and North-East Company was required to subscribe, in
stock, the sum of $400,000-this being one of the conditions demanded by
the State of Pennsylvania for its quiet enjoyment of the right of way through
that State. With the proceeds of this subscription, and a floating debt of
about $250,000, (advances by the Buffulo and State Line Company) to which
was added about $30,000 from individual stockholders, the road has been
constructed, and was opened for business for a distance of 40 miles in March,
1860. The Southern section of the road, from Jamestown to Newcastle, is
already graded and will probably soon be completed. At Newcastle com-
mences the Pittsburg, Newcastle and Cleveland Railroad, also in progress,
which will continue the line to Darlington, on the Pittsburg, Fort Wayne
and Chicago Railroad, and through that road to Pittsburg. It is operated
by the Buffalo and State Line Railroad Company.
FAYETTE COUNTY RAILROAD.
(Financial year ending 31st December, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1860-61.
Alfred Patterson
Uniontown, Pa.
James Veech
South Union, Pa.
Redding Bunting
"
"
Henry W. Gaddis
"
"
"
Apheus E. Wilson
"
"
Isaac Wiggins
"
"
"
Isaac Skiles
"
"
James Robinson
Georges,
"
Daniel Kaine
"
"
Jacob Murphey
Dunbar,
"
Samuel A. Gilmore
North Union, "
Isaac Beeson
"
"
NATHANIEL EWING, President
Uniontown, Pa.
S. D. OLIPHANT, Treasurer and Secretary
"
"
JOHN N. LEWIS, Chief Engineer
Mt. Vernon, O.
PRINCIPAL OFFICE
UNIONTOWN, Fayette Co., Pa.
LENGTH OF RoAD-Unientown to Connellsville
12.69 miles
Second track, none. Sidings and turnouts, 1.06 miles.
ROLLING STOCK
Furnished by the Pittsburg and Connellsville Company.
The Fayette County Railroad Company was chartered on the 13th March,
1858. The work of construction was commenced on the 30th August of the
same year, and the road completed from Connellsville to Mount Braddock
Station, 6 miles, on the 4th July, and to Uniontown, 12.69 miles, on the 31st
December, 1859. Regular operations on the whole line were commenced on
56
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442
PENNSYLVANIA-FRANKLIN
the 2d January, 1860. It is operated by the Pittsburg and Connellsville
Railroad Company, which pays for its use five-eighths of the gross receipts.
SHARE CAPITAL-Authorized, $750,000. Paid in, $76,043 on 1,006 $100 shs.
FUNDED DEBT-$30,000; described as follows—
1st Mortgage, 8 per cent., bonds
$30,000
-dated 2d May, 1859, and payable, principal in 5 years, and interest semi-
annually, 1st May and 1st November, at Uniontown.
COST OF ROAD AND No detail.
Earnings of 6 miles of road from 4th July to 31st December, 1859, $1,105.
FRANKLIN RAILROAD.
(Financial year ending 31st October, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
J.W.Wier
Harrisburg, Pa.
G. W. Zeigler
Greencastle, Pa.
G.W. Bruer
Chambersburg, "
A. B. Wingerd
"
"
J. J. Dull
Harrisburg, "
J. Cooke
Philadelphia,
"
A. Armstrong
Hagerstown, Md.
C. H. Clark
"
"
James Watson
"
"
E. R. Biddle
New York City, N.Y.
A. J. JONES, President
Harrisburg, Pa.
H. FAHNESTOCK, Treasurer and Secretary
"
"
PRINCIPAL OFFICE
HARRISBURG, Dauphin Co., Pa.
LENGTH OF RoAD-Chambersburg, Pa., to Hagerstown, Md.
22.50 miles.
Second track, none. Sidings, turnouts, etc., about 1 mile.
The Franklin Railroad Company was chartered in Pennsylvania on the 12th
March, 1832 and in Maryland in the same year, and was authorized to con-
struct a road in continuation of the Cumberland Valley Railroad, from
Chambersburg to the Maryland line, 16 miles, and thence to Hagerstown, 61
miles. The road was built in 1838, and ironed with a light flat bar rail.
Upon the completion of the road the company found itself so embarrassed
that shortly after the rolling stock was sold by the Sheriff, and the road was
placed in the hands of a sequestrator, who continued to operate the road
with horse power until 1852, when it became unsafe and unprofitable for any
use, and, by authority of law, it was sold by commissioners appointed for the
purpose for $18,000, with the stipulation that the road should be rebuilt with
T rail within one year thereafter. This time was extended more than once,
and ultimately the purchasers resold it to others, who, in 1859, rebuilt the
road in a substantial manner, and it is now being operated by the Cumber-
land Valley Company under contract with the owners.
SHARE CAPITAL-Subscribed and paid in, $360,000, in 7,200 $50 shares.
FUNDED DEBT-$165,000; described as follows-
1st Mortgage, 7 per cent., coupon bonds
$165,000
-dated 1st February, 1859, and payable, principal 1st February, 1884, and
coupons semi-annually, 1st April and 1st October, in the city of Philadelphia.
COST OF ROAD AND EQUIPMENT-$525,000. No detail.
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PENNSYLVANIA-GETTYSBURG
443
GETTYSBURG RAILROAD.
(Financial year onding 31st December, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1860.
A Krise.
Joseph Baily,
John Musselman,
George W. M'Clellan,
David M. Meyers,
John Gilbert,
David Wills,
J. W. Hendrix,
F. Diehl,
George Throne,
Jonah Benner,
J. M. Stevenson, Jr.
ROBERT M'CURDY, President
Gettysburg, Pa.
JOHN H. MCCLELLAN, Treasurer
"
"
PRINCIPAL OFFICE
GETTYSBURG, Adams Co., Pa.
LENGTH OF RoAD-Gettysburg to Hanover
17.12 miles.
Second track, none. Sidings, turnouts, etc., 1.09 mile.
ROLLING STocK-Locomotive engine
1
Cars :-passenger, 1; lime, 20
21
The Gettysburg Railroad Company was chartered on the 9th January, 1838.
By other acts the time for completion was extended, and it was not until
1856 that construction was commenced. The road was completed and
brought into use 1st December, 1858, and from that date to 12th June, 1859,
was operated by the Hanover Branch Company. The company now oper-
ates its own road, and also under contract the Littletown Railroad. The
road will probably be extended to Waynesboro' in Franklin county.
SHARE CAPITAL-Authorized, $300,000, in 6,000 $50 shares.
Paid in, - $115,698, on 2,677
"
FUNDED DEBT-$83,000: described as follows-
1st Mortgage, 6 per cent., coupon bonds
$83,000
-issued in 1857, and payable, principal in 1867, and coupons semi-annually,
1st January and 1st July, in Philadelphia.
FLOATING DEBT-$94,550: secured by the hypothecation of bonds.
CosT OF ROAD AND EQUIPMENT-$274,481. No detail.
INCOME ACCOUNT FOR THE YEAR ENDING 31sT DECEMBER, 1859.
Receipts-
Disbursements-
Passenger earnings
$6,912
Hanover Branch Company, for working
Freight
"
11,691
road
$2,642
Mail
"
900
Repairs of cars
361
Deficit
486
Salaries
1,216
Wages and labor
1,452
Repairs of road
3,659
Wood
529
Coupons
4,623
Interest on floating debt
5,577
Total
$19 989
Total
$19,989
GENERAL STATEMENT, 1ST JANUARY, 1860.
Dr.
Cr.
Cost of road and equipment
$274,481
Stock subscribed
$133,850
Bonds unsold
117,000
Bonds issued
200,000
Balance of stock unpaid
18,152
Floating debt
94,550
Discount on $33,000, bonds sold at 80
16,600
Notes on hand from sale of bonds
2,167
Total
$128,400
Total
$428,400
Digitized by
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444
PENNSYLVANIA-HANOVER BRANCH.
HANOVER BRANCH RAILROAD.
(Financial year ending 31st March, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
George Young,
Joseph Althoff,
Samuel Schwartz.
Peter Flickingen,
John Newman,
Daniel Geiselman.
A. W. EICHELBERGER, President and Superintendent
Hanover, Pa.
R. A. EICHELBERGER, Treasurer
"
"
PRINCIPAL OFFICE
HANOVER, York Co., Pa.
LENGTH OF RoAD-Junction with Northern Central RR. to Hanover
12.20 miles.
Second track, none. Sidings, turnouts, etc., 2.25 miles.
ROLLING STock-Locomotive engines and tenders
3
Cars :-passenger, 2; freight, 36
38
The Hanorer Branch Railroad Company was chartered on the 16th March,
1847. Construction was commenced on the 20th March, 1851, and the road
completed and opened for business on the 1st August, 1852. The Gettys-
burg and Littlestown Railroads were operated by this Company from the
dates of their completion to the 12th June, 1859, the latter receiving for its
services 30 cents per mile run by trains.
SHARE CAPITAL-Authorized, $500,000, in 10,000 $50 shares.
Paid in, - $118,000, on 2,360 $50 shares.
FUNDED DHBT-$35,000 : described as follows—
1st Mortgage, 6 per cent., coupon bonds
$35,000
-dated 2d February, 1852, and payable, principal in 10 years, and interest
semi-annually, 1st February and 1st August, at Baltimore.
FLOATING DEBT.-$550: bills payable.
COST OF ROAD AND EQUIPMENT-$202,095 : in detail as follows—
Cost of road and appurtenances
$172,375
Passenger and baggage cars
$3,600
Real estate at junction
785
Freight cars
4,305
Locomotives
20,100
Dumping and hand cars, etc
930
INCOME ACCOUNT FOR THE YEAR ENDING 31sT MARCH, 1859.
Receipts-
Disbursements-
Passenger earnings
$8,878
Transportation
$2,952
Freight
"
16,354
Motive power
7,847
Mail and express earnings
713
Repairs of road
3,749
Working Gettysburg Railroad
3,536
General expenses
926
"
Littletown Railroad
1,951
Renewals
4,924
Other receipts
2,073
Extraordinary expenses
648
Materials on hand 1st April, 1858
3,012
Rolling stock
3,665
Balance on hand 1st April, 1858
1,188
Interest on bonds
2,117
Old claims-attorney's fees
500
Debts paid
4,500
Materials on hand
3,934
Balance of earnings
1,942
Total
$37,705
Total
$37,705
GENERAL LEDGER BALANCE SHEET, 1ST APRIL, 1859.
Dr.
Cr.
Cost of road and appurtenances
$172,375
Share capital
$118,000
Rolling stock
29,820
Funded debt
35,000
Bills and outstanding claims
1,900
Bills payable
550
Cash in Western Bank of Baltimore
26
Profit and loss
321
Cash in treasury
1,942
Earnings
52,092
Total
$205,963
Total
205,963
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PENNSYLVANIA-HARRISBURG AND LANCASTER
445
COST, EARNINGS, EXPENSES, ETC., YEARLY.
Cost of
Mile-
Gross Earnings
Operating
Earnings,
-Div.-
Year.
Road, etc.
age.
Pass'rs.
Freight.
Mails.
Total.
expenses
less exp.
$
p.c.
1853.
$157,191
12.20
$6,189
$9,878
$557
$16,624
$6,312
$8,312
nil.
nil.
1854
166,190
12.20
7,925
12,200
557
20,682
10,341
10,341
"
"
1855
167,922
12.20
8,910
13,584
557
23,051
11,526
11,525
"
"
1856
179,307
12.20
7,843
18,544
557
26,944
11,160
15,784
"
"
1857
186,432
12.20
8,486
22,617
695
31,798
12,456
19,342
"
"
1858
197,100
12.20
8,806
18,659
541
28,006
12,991
15,015
"
"
1859
202,095
12.20
8,878
16,354
713
25,945
15,474
10,471
2,360
2
7 yrs.
$1,256,237
85.40
$57,037
$111,836
$4,177
$173,050
$82,260
$90,790
$2,360
Aver
179,462
12.20
8,148
15,976
597
24,721
11,751
12,970
337
0.3
HARRISBURG, PORTSMOUTH, MT. JOY AND LANCASTER.
(Financial year ending 31st August, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
William Ford
Philadelphia, Pa.
James Mehaffey
Marietta, Pa.
Algernon S. Roberts
"
"
John H. Towne
Philadelphia,
"
John Holmes, M. D
"
"
Joshua B. Lippincott
"
"
James Magee
"
"
James Young.
Middletown,
"
Robert V. Massey
"
"
Edward F. Gay
Philadelphia,
"
William W. Longstreth.
"
"
Thomas Sparks
"
"
MICHAEL V. BAKER, President
Philadelphia, Pa.
GEORGE TABER, Treasurer and Secretary
"
"
WILLIAM P. BEATTY, General Agent
"
"
KIRK FEW, Superintendent
Harrisburg,
"
PRINCIPAL OFFICE
Third street, cor. Willing's Alley, PHILADELPHIA, Pa.
LENGTH OF ROAD-Main Line, Harrisburg to Dillerville.
36 miles.
Branch Line, Middletown to Columbia
18
"
Second track on main line, 10 miles. Sidings, etc., main line, 71 and branch, 5 m.
ROLLING STOCK
Supplied by Pennsylvania Railroad Company.
The Harrisburg, Portsmouth, Mount Joy and Lancaster Railroad Company was
chartered on the 9th June, 1832, under the title of " Portsmouth, Mount
Joy and Lancaster," with power to construct a road from Portsmouth to a
point on the Philadelphia and Columbia Railroad west of Lancaster. A
supplement to the charter was passed in March, 1855, which authorized the
Company to extend its line westward to Harrisburg, and to change its name,
and a further supplement passed March, 1848, authorized the construction
of the Columbia Branch. By other acts of the Legislature the Company
was empowered (April, 1853,) to lay down a second track, and (April, 1856,)
to extend its road from Harrisburg to Dauphin.
The work of construction was commenced in 1834. The section of the
road from Dillerville to Mount Joy was completed in September, 1836;
that from Mount Joy to Portsmouth in January, 1837, and the whole line in
September, 1838. The total cost of the road and equipment up to 1840, the
date of the first published report, was $721,704. In 1842 the Company
commenced to relay the road with heavy rail, and to build a second track
this work of re-construction was finished in 1849. The Columbia Branch
was placed under contract for construction in 1849, and finished in 1851. In
April, 1849, the road was leased to the Pennsylvania Company for 20 years,
the lessee to supply motive power and cars, and charge the expenses to the
lessors, the charges on freight and passenger going over the whole or part
Digitized by Google
446
PENNSYLVANIA-HARRISBURG AND LANCASTER.
of both roads to be governed by the charges on the Pennsylvania Railroad
but all local business to be regulated by the Harrisburg and Lancaster Com-
pany. A special clause of the lease provided for the general improvement
of the road and the construction of a second track on the Columbia Branch.
This was commenced in 1852, and was finished in the following year. In
1857 a large passenger depot was erected at Harrisburg at a cost of $58,250.
SHARE CAPITAL-Authorized $1,830,000, and paid in $1,088,100, in $50 shs.
FUNDED DEBT-New Loan, 6 per cent., coupon bonds
$661,000
-dated 1st January, 1856, and payable, principal in 27 years, and interest
semi-annually, 1st January and 1st July, at Philadelphia.
INCOME ACCOUNT FOR THE YEAR ENDING 31sr Augusr, 1859.
Receipts-
Disbursements-
Passenger earnings
$148,927
Motive power and transportation
$171,551
Freight
"
252,754
Repairs of road
56,924
Express
"
7,603
Salaries of officers
9,540
Emigrant and passenger baggage
3,622
Tax-on div. $5,490, on fgt $23,394, etc
29,573
U.S. Mail earnings.
8,015
Rent and incidental expenses
3,127
Rents
7,657
Interest on bonds
36,860
Dividends-two of 5 per cent each
108,710
Balance of earnings
12,292
Total
$428,578
Total
$428,578
GENERAL LEDGER BALANCE SHEET, 1ST SEPTEMBER, 1859.
Dr.
Cr.
Main road and appurtenances
$1,532,587
Share capital
$1,087,100
Branch road
"
294,035
Dollar bonds due 1858 (not presented)
1,000
New depot
55,923
New loan
661,000
Bonds Clev. & Maho RR. $27,000 a 80
21,600
Ledger credits
4,752
Ledger debits
2,363
Profit and loss (subject to the Octo-
Balance due from Penn. RR. Co
24,612
ber dividend, 5 per cent.)
189,697
Cash balance on hand
12,419
Total
$1,943,549
Total
$1,943,549
COST, EARNINGS, EXPENSES, ETC., YEARLY.
Cost of
Mile-
Gross Earnings
Operating Earnings,
Div.
Year.
Road, etc.
age.
Pass'r.
Freight.
Mail.
Total.
expenses.
less
exp.
Am't.
p.
c.
1837
$490,000
24.50
$36,696
$1,840
$38,536
$22,434
$16,102
nib
nil.
1838
720,000
36.00
52,100
10,933
$2,575
65,608
44,986
20,622
$24,462
6
1839
720,000
36.00
57.134
29,223
5,538
91,895
71,104
20,791
16,338
4
1840
721,704
36.00
74,926
30,882
6,300
112,108
88,500
23,608
nil.
nil.
1841
800,000
36.00
71,660
26,676
7,140
105.476
73,109
32,367
"
"
1842
900,000
36.00
58,849
15,182
6,682
80,713
59,117
20,596
"
"
1843
1,000,000
36.00
43,282
16,245
6,076
65,603
27,849
38,754
"
"
1844
1,000,000
36.00
53,639
18,067
7,185
78,891
33,528
45,363
"
"
1845
1,000 000
36.00
55,059
15,635
6,189
76,883
34,799
42,084
"
"
1846
1,000,000
36.00
60,539
23,510
9,055
93,104
56,101
37,003
"
"
1847
1,200,000
36.00
72,199
29,962
11,869
114,030
34,877
79,153
"
"
1848
1,200,000
36.00
80,900
32 057
13,298
126,255
37,387
88,868
"
"
1849
1,200,000
36.00
78,990
34,433
9,776
123,199
38,444
84.755
"
"
1850
1,250,050
36.00
96,365
40,302
10,738
147,405
34,795
112,610
50,114
7
1851
1,532,948
54.00
112,866
70,694
10,299
193,859
97,175
96,684
nil.
nil.
1852
1,609,494
54.00
115,973
65,635
18,642
200,250
93,316
106,934
"
"
1853
1,702,523
54.00
121,740
123,958
19,629
265,327
117,782
147,545
"
"
1854
1,777,087
54.00
136,789
169,209
16,951
322,949
121,293
201,651
83,000
10
1855
1,799,480
54.00
143,496
181,953
18,294
343,743
123,139
220,604
84,310
10
1856
1,825,787
54.00
141,076
293.791
19,439
454,306
259,946
194,360
84,310
10
1857
1,882,555
54.00
144,536
287,928
20,323
452,792
267,571
185,221
115,564
12
1858
1,882,555
54.00
136,709
251,275
27.909
415,893
260,815
155,088
108,710
10
1859
1,882,555
54.00
152,547
252,755
23,276
428,578
270,716
157,862
108,710
10
23 yrs.
29,096,738
978.50
2,098,070
2,022,145
277,188
4,397,403
2,268,788
2,128,615
675,503
Aver
1,264,989
42.54
91,222
87,919
12,052
191,191
98,643
92,548
29,326
3.44
Digitized by
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PENNSYLVANIA-HEMPFIELD.
447
HARRISBURG, PORTSMOUTH. MT. JOY AND LANCASTER
RAILROAD.
(See Harrisburg and Lancaster Railroad.)
HEMPFIELD RAILROAD.
(Financial year ending 30th November, 1859.)
COLIN M. READ, President
WASHINGTON, Washington Co., Pa.
LENGTH OF RoAD-Wheeling, Va., to Washington, Pa
32 miles.
Second track, none. Sidings, turnouts, etc., 1.16 mile.
ROLLING STocK-Locomotive engines
3
Cars :-passenger, 2; freight and baggage, 3; coal, 14.
19
The Hempfield Railroad Company was chartered, by the Legislature of Penn-
sylvania, on the 15th May, 1850, and in the following year an act was passed
by the Legislature of Virginia authorizing the company to extend the pro-
jected railroad through that State to Wheeling. The road in Pennsylva-
nia was to extend from Greensburg, on the Pennsylvania Railroad, to the
State line of Virginia. Its construction was commenced in the latter part of
1853, and the section between Wheeling and Washington completed early
in 1857. The company now became embarrassed, and the work on the
Washington-Greensburg section was ultimately abandoned. Since the
year last named, the road has been in the possession of the holders of the
company's bonds. Meanwhile, under the authority of an act of the Legis-
lature, passed on the 28th April, 1857, the bonds are being converted into
a preferred stock. The Chartiers Valley Railroad, when constructed, will
give it a connection with Pittsburg, and the projected bridge over the Ohio,
at Wheeling, with the western lines of transportation. At present the road
is isolated. An application for further information was refused.
SHARE CAPITAL-Authorized, $2,000,000, in 40,000 $50 shares.
Paid in, - $1,809,563,
"
"
FUNDED DEBT
$
I
FLOATING DEBT
$
CosT OF ROAD AND EQUIPMENT-$1,809,563. No detail.
INCOME ACCOUNT FOR THE YEAR ENDING 31st NOVEMBER, 1859.
Receipts-
Disbursements-
Passenger earnings
$12,563
Operating expenses
$23,151
Freight
"
17,354
Mail
"
3,234
Total
$23,151
Total
$23,151
HESTONVILLE, MANTUA AND FAIRMOUNT PASSENGER
RAILROAD.
(See Philadelphia City Passenger Railroads.)
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448
PENNSYLVANIA-HUNTINGDON AND BROAD TOP.
HUNTINGDON AND BROAD TOP MOUNTAIN RAILROAD,
(Financial year ending 31st December, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1860.
Rathmell Wilson
Philadelphia, Pa.
A. P. Wilson
Huntington, Pa.
S. Morris Waln
"
"
S. J. Christian
Philadelphia, "
D. Haddock, Jr
"
"
James W. Paul
"
"
John Devereux
"
"
James B. Lane
Lancaster, "
G. English
"
"
William Cummings
Philadelphia,
"
John McCanles
"
"
James Long
"
"
L. T. WATSON, President
Philadelphia, Pa.
JOHN J. LAWRENCE, Superintendent
Huntington, "
PRINCIPAL OFFICE
258 South Third street, PHILADELPHIA, Pa.
LENGTH OF ROAD-Main Line, Huntingdon to Hopewell
31.25 miles
Branch Lines, Shaup's Run Branch
9.26
Six-mile Run Branch
1.00
Sandy Run Branch
1.00-11.25
"
Total mileage of road and branches
42.50 miles.
Sidings on main line 2.50 miles, and on Shaup's Run Branch 2.50 miles.
ROLLING STocK-Locomotive engines
6
Cars :-passenger, 2; freight, 2; coal, 100
104
The Huntingdon and Broad Top Mountain Railroad Company was chartered
on the 6th May, 1852. The work of construction was commenced in the
summer of 1853, and the main road completed from Huntingdon to McCon-
nellsville, on the 30th July, 1855 to Saxton, on the 8th November, 1855 the
bridge at Saxton, on the 9th March, 1856, and the road thence to Hopewell
on the 3d July, 1856. Shaup's Run Branch was completed for 4 miles in
March, 1856, and in its whole length early in 1857; Sandy Run Branch in
July, 1856, and Six Mile Run Branch in March, 1857. The main line will
be continued to Bedford by an independent company (organized in January,
1853), whose works are already in forward progress. the grading and masonry
of 12 miles having been completed at the end of 1859, and the remaining
73 miles being under contract.
SHARE CAPITAL-Authorized, Ordinary, $800,000, in 16,000 $50 shares.
"
Preferred, 300,000, in 6,000
"
Paid in, - Ordinary, 430,403, in 10,883
"
"
-
Preferred, 36,200, in 724
"
The Preferred Stock (6 per cent.) was issued in accordance with an act
passed in the session of 1857-8, and accepted by the stockholders on the 15th
September, 1858. Besides the amount disposed of the Company has set
apart under agreement 2,996 shares for the payment of debts maturing on
the 13th October, 1861.
FUNDED DEBT-$661,678: classified as follows-
1st Mortgage, 7 per cent., coupon bonds
$500,000
-dated 30th September, 1854, and payable, principal 30th September, 1870,
and coupons semi-annually, 1st May and 1st October, at Philadelphia.
After 1st January, 1861, one-fourth the net revenue after interest is to be
invested in a sinking fund for the redemption of these bonds.
Digitized by Google
PENNSYLVANIA-HUNTINGDON AND BROAD TOP.
449
2d Mortgage, 7 per cent., coupon bonds
$161,678
-dated 1st February, 1857, and payable, principal on the 1st February,
1875, and coupons semi-annually, 1st February and 1st August, at Philadel-
phia. The amount of bonds provided under this mortgage was $500,000.
FLOATING DEBT-$319,246; bills payable, loans, and other debts.
Cost OF ROAD AND EQUIPMENT-$1,354,930. No detail.
INCOME ACCOUNT FOR THE YEAR ENDING 31sT OCTOBER, 1859.
Receipts-
Disbursements-
Coal freight earnings
$69,406
Maintenance of way
$10,746
Merchandize freight earnings
7,530
"
motive power
15,971
Passenger earnings
5,905
"
cars
1,986
Mail and express
1,862
Conducting transportation
7,698
Rents and miscellaneous.
1,407
Income over expenses.
49,709
Total
$86,110
Total
$86,110
GENERAL LEDGER BALANCE SHEET, 1ST January, 1860.
Dr.
Cr.
Construction and equipment
$1,354,930
Ordinary capital
$430,403
Real estate and improvements at mines
115,449
Preferred capital
36,200
Running expenses, etc
37,681
Funded debt
661,678
Interest account and notes paid
32,434
Bills payable, loans, etc
319,246
Office, salaries and incidentals
4,742
Passengers, freight and mines
95,681
Bills receivable, bonds and stocks
10,099
Profit and loss account
30,489
Balances due on stock
5,388
Balance in hands of Superintendent.
7,396
Drawback account
1,987
Cash and cash assets
3,592
Total
$1,573,698
Total
$1,573,698
The indebtedness of the Company amounts to $319,246, but exclusive of
$120,591 for which there is an agreement with creditors to take preferred
stock previous to October 15th, 1861, only $186,422. The details of this
debt and the assets owned by the Company are as follows:
Debts-
Assels-
Bills payable, etc.
$165,767
Balance due on coal freights
$4,128
Debts payable on coal at mines
7,663
105 2d M bonds (now out as collateral). 52,500
"
"
"
and freights
4,499
Balance of floating debt.
129,794
Pay rolls and vouchers
8,492
Total
$186,422
Total
$186,422
The Company has issued certificates for coupons, payable 1st October
1862, $48,247, and payable 1st February, 1863, $30,818, and the bondholders
are now asked to take certificates for due and unfunded coupons, payable in
1864, $36,662-making a total of $115,727, representing the unpaid interest
on the funded debt. So far the interest has been paid on these certificates.
COST OF EARNINGS, EXPENSES, ETc., YEARLY.
Cost of
Mile-
Gross Earnings-
Operating
Earnings
-Div-
Year.
Road, &c.
age.
Pass'gers.
Freight.
Mails.
Total.*
expenses.
less exp.
$
p.o.
1856
$1,181,998
29.00
$6,670
$22,658
$29,328
$15,764
$13,564
nil.
nil.
1857
1,200,000
42.50
6,412
43,918
$2,112
52,442
26,819
25.623
"
"
1858
1,300,000
4250
5,995
62,587
2,947
71,529
34,280
38,249
"
"
1859
1,354,930
4250
5,905
76,936
3,269
86,110
36,401
49,709
"
"
4 years.
5,036,928
156.50
24,982
206,099
8,328
239,409
112,264
127.145
"
"
Average. 1,259,232
39.12
6.245
51,525
2,082
59,852
28,066
31,786
"
"
# Not including net rents of mines-in 1856, 93,878; in 1657, $6,112; in 1858, $10,033, and in
1859, $3,667
57
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450
PENNSYLVANIA-LACKAWANNA AND BLOOMSBURG.
LACKAWANNA AND BLOOMSBURG RAILROAD.
(Financial year ending 30th November, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
Wm. C. Reynolds,
Saml. Hoyt,
W. Swetland, V.P,
Theodore Strong,
H. Gaylord,
Thos. F. Atherton,
Chas. F. Welles, Jr.,
W J. Woodward,
Geo. W. Scranton,
John Brisbin,
Geo. W. Woodward,
D. J. Driesbach,
E. M'NEILL, President and Engineer
Kingston, Pa.
PAYNE PETTEBONE, Treasurer
Wyoming, "
M. W. JACKSON, Superintendent
Kingston, "
PRINCIPAL OFFICE
KINGSTON, Luzerne Co., Pa
LENGTH OF RoAD-Scranton to Northumberland
80 miles.
Scranton to Rupert, (completed)
69
"
Second track, none. Sidings, turnouts, etc., 2.20 miles.
ROLLING STocK-Locomotive engines
10
Cars :-Passenger, 1st class 3, and 2d class 3
6
Freight and baggage, 28 ; coal, 290
318-324
The Lackawanna and Bloomsburg Railroad Company was chartered on the 5th
April, 1852, and authorized to construct a railroad from Scranton to Blooms-
burg, and from Bloomsburg to Danville with branch or lateral roads not ex-
ceeding in any case five miles in length, etc. The capital for the road to
Bloomsburg was fixed at $900,000, and for that to Danville at $150,000.
By an act approved 3d March, 1853, the extension to Northumberland was
authorized with an increase of capital $500,000, and an issue of $900,000 in
bonds; another act approved 17th March, 1858, authorized an issued of
$500,000 in preferred stock, and $500,000 in bonds, and a further act ap-
proved 5th February, 1859, an issue of $400,000 in bonds. The road was com-
pleted and opened for business from Scranton to Kingston, 17 miles, on the
24th June, and to Nanticoke, 24 miles, 14th August, 1856; and to Blooms-
burg, on the 23d December, 1857. The Danville connection was completed
on the 15th September, 1859. The extension to Northumberland is in such
a forward condition as to allow of its completion in May or June, 1860.
That section of the road from Scranton to Kingston is of the same gauge
(6 feet) as the Delaware, Lackawanna and Western Railroad, the remainder
of the road being of narrow (4 feet 81 inche) guage.
SHARE CAPITAL-Authorized, $2,150,000, in 43,000 $50 shares
Paid in $712,424, namely-
Common stock, $212,424, in shares and scrip.
Preferred stock, 500,000, in 10,000 $50 shares.
FUNDED Девт-$1,004,569: classified as follows—
1st Mortgage, 7 per cent., bonds
$870,950
-dated 1st July, 1855, and payable, principal in 20 years, and interest semi-
annually, 1st January and 1st July, at Mercantile Bank, New York.
2d Mortgage, 7 per cent., bonds
$19,800
-dated 15th April, 1858, and payable, principal in 22 years, and interest
semi-annually, 15th April and 15th October, at Farmers' and Mechanics'
Bank, Philadelphia.
1st Mortgage, 7 per cent., extension bonds
$113,819
-dated 1st March, 1859, and payable, principal in 26 years, and interest
semi-annually, 1st March and 1st September, at Farmers' and Mechanics'
Bank, Philadelphia.
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PENNSYLVANIA-LACKAWANNA AND BLOOMSBURG.
451
FLOATING DEBT-$181,250, viz. : bills payable $178,772, etc.
COST OF ROAD AND EQUIPMENT-$1,992,485 (incl. unsettled bills, $30,750):
in detail as follows—
Graduation and masonry
$638,026
Locomotives and tenders.
$50,259
Bridges.
85,026
Passenger and baggage cars
11,331
Superstructure
110,769
Freight cars
16,678
Iron
529,788
Coal cars
38,239
Engine & car houses, machine shops, etc
3,121
Engineering and agencies
36,602
Stations, buildings and fixtures
16,553
Interest and discount
316,804
Land, land-damages and fences
114,718
Miscellaneous expenses
24,578
INCOME ACCOUNT FOR THE YEAR ENDING 31sT DECEMBER, 1859.
Receipts-
Disbursements-
Passenger earnings
$54,800
Operating expenses
$57,662
Freight
"
34,920
Interest on bonds
64,914
Coal
"
47,791
44
floating debt
11,875
Mails, etc.
"
4,159
Surplus income
7,279
Total
$141,730
Total
$141,730
GENERAL LEDGER BALANCE SHEET, 1ST JANUARY, 1860.
Dr.
Cr.
Construction
$1,961,735
Share capital
$712,724
Less transportation
87,443-1,874,292
Funded debt
1,004,569
Materials, wood, etc
1,795
Floating debt
181,250
Bills receivable
$63,201
Lacka. Iron and Coal Company
13,489
Less discounted bills rece'ble. 31,545-
31,656
Coal certificates
22,976
Discount on extension bonds
16,495
Old Forge Coal Co
5,000
Sundry accounts
18,900
H. Gaylord, Coal Agent
977
Due from agents
1,499
McKeloy & Neal
11,213
Cash, less interest on bonds
1,768
Rents and taxes
94
Freight certificates
3.996
Due connecting roads
2,885
Sundry accounts due
3,389
1
Total
$1,961,563
Total
$1,961,563
COST, EARNINGS, EXPENSES, ETC., YEARLY.
Cost of
Mile-
Gross Earnings
Operating
Earnings
-Div-
Year.
Road, &c.
age.
Pass'gers.
Coal.
Merch'dze.
Total.t
expenses.
less exp.
$
p.c.
1856
$953,641
24.00
15,717
379
7,553
24,568
7,699
16,869
"
"
1857
1,150,000
24.00
31,112
11,317
16,119
58,548
29,274
29,274
"
"
1858*
1,600,000
68.00
46,228
21,424
25,005
96,810
40,990
55,820
"
u
1859
1,992,485
68.00
54,860
47,791
34,920
141,730
57,662
84,068
"
"
4 years.
5,696,126
184.00
147,917
80,929
83,297
321,656
135,625
186,031
"
"
Aver
1,424,031
46.00
36,979
20,232
20,899
80,414
33,906
46,508
"
"
LACKAWANNA RAILROAD.
This is a coal road, some 9 miles in length, extending from the Delaware,
Lackawanna and Western Railroad at Greenville, via Jessup, to Archbald.
It is not used as a public thoroughfare.
LACKAWANNA AND LANESBORO' RAILROAD.
This is a proposed coal road. The line to be occupied extends from the
Lackawanna and Bloomsburg Railroad at Hyde Park, opposite Scranton,
to Lanesboro', on the New York and Erie Railroad, and a branch thence to
Nineveh, 23 miles, will connect it with the Albany and Susquehanna Rail-
road. Length, 533 miles; gauge 6 feet. Estimated cost $34,000 per mile.
# Cost estimated. Includes " Miscellaneous."
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452
PENNSYLVANIA-LEHIGH VALLEY.
LEHIGH VALLEY RAILROAD.
(Financial year ending 30th November, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
Wm. H. Gatzmer
Philadelphia, Pa.
Asa Packer
Mauch Chunk, Pa.
Robert F. Stockton
"
"
E. A. Packer
New York, "
Daniel Barnet
"
"
J. T. Johnson
"
"
J. G. FELL, President
Philadelphia, Pa.
J. N. HUTCHINSON, Treasurer
"
"
R. H. SAYRE, Superintendent
Bethlehem, "
PRINCIPAL OFFICE
PHILADELPHIA, Pa
LENGTH OF RoAD-Easton to Mauch Chunk
45.50 miles.
Second track, 12 miles ; sidings, 5 miles.
ROLLING STocK-Locomotive engines
19
Cars :-passenger, 8; freight and baggage, 18; coal, 1,327
1,353
The Lehigh Valley Railroad Company is the successor of the Delaware,
Lehigh, Schuylkill and Susquehanna Railroad, which was incorporated on
the 23d of April, 1846. Its name was changed to that of the Lehigh
Valley on the 7th January, 1853. The construction of the road was com
menced in Dec., 1852, and completed and the road opened in Oct., 1855.
SHARE CAPITAL-Authorized, $3,000,000.
Paid in, - $1,966,350.
FUNDED DEBT-$1,417,000: in detail as follows—
1st Mortgage, 6 per cent., coupon bonds
$1,417,000
-dated 1st May, 1853, and payable, principal 1st May, 1873, and interest
semi-annually, 1st May and 1st November, at Philadelphia. The mortgage
in this case provided an issue of bonds to the amount of $1,500,000.
COST OF ROAD AND EQUIPMENT-$3,596,724. Details not given.
INCOME ACCOUNT FOR THE YEAR ENDING 30TH NOVEMBER, 1859.
Receipts-
Disbursements-
Coal Transportation
$391,767
Coal transportation
$160,896
Passenger, express and mail earnings.
68,162
Passenger, express and mail
28,086
Miscellaneous freight
65,938
Miscellaneous freight
22,991
Interest on bonds
85,020
Current interest
8,258
Salaries and office expenses
6,259
Dividend in December, being 6 percent.
per year, ending Nov. 30
117,981
Balance
96,376
Total
$525,867
Total
$525,867
GENERAL STATEMENT, 30TH NOVEMBER, 1859.
Dr.
Cr.
Road
$3,183,458
Share capital
$1,96€,350
Equipment
413,266
Funded debt
1,417,000
Floating debt
192,910
Profit and loss
20,464
Total
$3,596,724
Total
$3,596,724
Statement of number of tons of coal transported on the Lehigh Valley
Railroad since its opening to the close of the last fiscal year :
1836.
1857.
1858
1859.
Tons
165,740
418,236
471,930
577,651
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PENNSYLVANIA-LEHIGH LUZERNE.
453
Cost, EARNINGS, EXPENSES, ETC., YEARLY.
Cost of Mile-
Gross Earnings
Operating Earnings
-Div.-
Year.
Road, etc. age.
Pass'r.
Freight.
Mails.
Total.
expenses.
less exp.
Am't.
p.c.
1856
$3,500,000
45.05
$80,181
$179,613
$259,794
$153,815
$105,979
$100,657
6
1857-
3,500,000
45.05
70,786
366,354
4,045
441,185
192,461
268,724
107,670
6
1858.
3,500,000
45 05
55,387
380,978
5,679
442,044
194,673
247,371
112,138
6
1859.
3,500,000
45.05
68,161
457,705
525,866
211,973
313,893
117,987
6
4
yrs.
14,000,000
182.05
$274,515
$1,384,650
89,724
$1,668,889
$732,922
$935,967
$438,446
Aver. 3,500,000
45.06
68,629
346,162
2,431
417,222
183,230
233,992
109,611
6
LEHIGH LUZERNE RAILROAD.
(Financial year ending 31st December, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
W. W. Longstreth
Philadelphia, Pa.
A. Pardee
Hazleton. Pa.
J. G. Fell
"
"
John Leisenring
Mauch Chunck, "
Edward Roberts
"
"
Francis Jenkins
Jersey City, N.J
A. S. ROBERTS, President
Philadelphia, Pa.
J. G. FELL, Treasurer
"
"
A. PARDEE, Superintendent
Hazleton,
"
PRINCIPAL OFFICE
PHILADEDPHIA, Pa.
LENGTH OF ROAD-From Hazleton RR. through Black Creek Valley
20.00 miles.
Constructed-Main Line, 9 miles; Branch to Eckley, 11 mile.
ROLLING STOCK
None.
The Lehigh Luzerne Railroad Company was chartered in 1855, and the con-
struction of its road was commenced in 1856. The main line was opened
for 9 miles in January, 1860. The branch to Eckley was opened in October,
1857. The object of the road is to open an outlet for the north eastern
basin of the Middle Coal Field in Luzerne county, a large portion of which
is made available by means of this road, in connection with the Hazleton
and Beaver Meadow roads.
SHARE CAPITAL-Authorized, $750,000, in $50 shares.
Paid in
-
$93,000.
FUNDED DEBT-$160,000; in detail as follows—
1st Mortgage, 6 per cent., coupon bonds
$160,000
-dated 4th May, 1857, and payable, principal 1st May, 1872, and interest
semi-annually, 1st May and 1st November, in Philadelphia. The mortgage
in this case provides for an issue of bonds to the amount of $250,000. They
are convertible into stock at any time prior to the 1st May, 1767.
CosT OF ROAD AND EQUIPMENT-$253,466.
Graduation and masonry
$131,807
Engineering and agencies
6,544
Ballasting
3,396
Discounts and interest
34,408
Superstructure
72,187
Incidental expenses
5,114
LEBANON VALLEY RAILROAD.
This road was chartered in 1836. Its construction was commenced in
1854, and the road opened for its whole length in 1856. It was constructed
under the auspices of the Philadelphia and Reading Company, which pro-
vided the greater part of the means of construction, and with which it was
consolidated in 1858. The cost of this road, 531 miles in length, has been
$4,490,755, of which $1,500,000 is in mortgage bonds.-(See Reading RR.)
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454
PENNSYLVANIA-LITTLE SCHUYLKILL.
LEHIGH AND SUSQUEHANNA RAILROAD.
(See Lehigh Coal and Navigation.)
LITTLE SCHUYLKILL RAILROAD.
(Financial year ending 30th November, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1860.
Levi Dickson
Philadelphia, Pa.
Charles Henry Fisher
Philadelphia, Pa.
George R. Justice
"
"
Archibald McIntyre
"
"
Frederick Fraley
"
"
Joseph Patterson
"
"
WILLIAM C. PATTERSON, President
Philadelphia, Pa.
WILLIAM WALN, JR., Treasurer and Secretary
"
"
JOHN ANDERSON, Superintendent
Tamaqua,
"
PRINCIPAL OFFICE
No. 407 Library street, Philadelphia, Pa.
LENGTH OF RoAD-Port Clinton to foot of Broad Mountain
28.00 miles.
Second track, 6 miles. Sidings, turnouts, etc., 7 miles.
Wabash Branch : from Tamaqua to Reinhart's Run Mines
3.50
"
Greenwood Branch-(not owned by company)
2.00
"
ROLLING STOCK-Locomotive engines
11
Cars-None. Except for the transportation of coal the road is operated by
the Catawissa, Williamsport and Erie Railroad Company. Coal cars are supplied by
the Reading Railroad and Schuylkill Canal Companies.
The Little Schuylkill Navigation, Railroad and Coal Company was chartered
on the 28th February, 1826. The work of construction was commenced in
the year 1830, and the railroad completed from Port Clinton to Tamaqua in
1832, and to a junction with the Catawissa Railroad in 1854. The Branch
to Reinhart's Run Mines was opened in 1847.
The main line of this road extends from a junction with the Reading
Railroad at Port Clinton, along the Little Schuylkill, to the foot of
Broad Mountain, where it connects with the Catawissa Railroad. These
connections furnish outlets for the eastern portion of the Schuylkill coal-field on
the one hand to Philadelphia and the eastern markets, and on the other to
the ports of the Lakes Ontario and Erie, and together a continuous line of
railroad from the seaboard to the lake ports and the west. For the pur-
poses of a through line the road is managed by the Catawissa, Williamsport
and Erie Company, this company retaining control so far as the coal business
is concerned. The latter and also all the freight business not conducted by
the Catawissa Company was placed in the hands of H. Clayton, Esq., of
Tamaqua, who entered into an agreement for such purpose on the 1st Oct.,
1859. Under this contract, which is to continue in force until 1st January,
1861, all the buildings, machinery, rolling stock, etc., necessary to the work-
ing of the road, have been placed in his possession, he undertaking at his
own cost to keep them in thorough repair, etc.
In 1858 the company guaranteed 6 per cent. on the cost of the East
Mahonoy Railroad (which see). This road was commenced in April, 1859,
and is already completed, except the tunnel (3,400 feet) through Broad
Mountain. This road will give an outlet to the East Mahonoy coal fields,
and prove a valuable feeder to the Little Schuylkill Railroad from which it
diverges above Tamaqua.
SHARE CAPITAL-Authorized (unlimited), in $50 shares.
Paid in, $2,256,100, on 112,805 $50 shares.
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PENNSYLVANIA-LITTLE SCHUYLKILL.
455
FUNDED Девт-$953,000 : classified as follows-
1st Mortgage, 6 per cent., coupon bonds
$327,500
-issued in 1850, and payable, principal in 1860, and coupons semi-annually,
1st April and 1st October, in Philadelphia.
2d Mortgage, 7 per cent., coupon bonds
$625,500
-dated 1st October, 1857, and payable, principal 1st October, 1877, and
coupons semi-annually, 1st April and 1st October, in the same city. Whole
provision, $1,000,000. Balance unissued to be applied to the retirement
of the 1st mortgage bonds.
FLOATING DEBT-$106,821, viz bills payable, $47,500; accounts, $57,335,
and uncalled for dividends, $1,986.
SINKING FUNDS.-The 1st Mortgage Sinking Fund is paid, $10,000 a year,
from net earnings, which amount is invested in the bonds issued under the
said mortgage. The original issue of bonds was $500,000, which sum has
been reduced by the operation of this fund to $327,500.
The 2d Mortgage Sinking Fund receives one per cent. semi-annually on the
outstanding principal of the loan-the proceeds to be invested in the bonds
under the said mortgage at or under par, or otherwise in safe and available
securities, the principal of which to be held in the name of the company as
trustee, until resold and invested in the bonds aforesaid. All the bonds
SO purchased are to be immediately cancelled and converted into the com-
pany's stock, which may be distributed (prorata) as a dividend to the stock-
holders. The first payment to this fund was made in May, 1858.
Cost OF ROAD AND PROPERTY-$3,178,120: in detail as follows—
Railroad and appurtenances.
$1,416,188
Real estate, buildings and fixtures
$155,094
Coal lands and improvements.
1,530,167
General property, equipment, etc.
76,671
INCOME ACCOUNT FOR THE YEAR ENDING 30TH NOVEMBER, 1859.
Receipts-
Disbursements-
Leave on coal mined from Company's
Wages and expenses of trains
$20,741
lands
$43,976
Wood, coal and oil
7,485
Railroad tolls on coal
103,077
Transporting coal dirt
3,949
Coal transportation
85,993
Railroad repairs
36,732
Freight and tolls on merchandize
21,744
Locomotive repairs
11,305
Passenger, express and mail earnings
6,982
Freight cars
"
2,250
Rents of houses and hotel
2,498
Teams
"
1,780
Salaries and office expenses, Philada
7,844
"
"
"
Schuyl. Co.
7,771
Insurance, etc
2,036
Taxes on company's lands
2,216
Burning vein.
11,697
Repairs of machinery
5,989
Fault work
9.518
Earnings less expenses
132,957
Total
$264,270
Total
$264,270
PROFIT AND Loss ACCOUNT FOR THE YEAR ENDING 30TH NOVEMBER, 1859.
Dr.
Cr.
Interest account
$62,856
Balance to credit to 1st December, 1858 843,475
Sinking fund loan 1860
10,000
Profits for 1859
132,957
"
"
"
1877
12,660
State tax on valuation of stock
1,895
Depreciation in personal property
27,406
Balance to reserve fund
89,021
Total
$176,432
Total
$176,432
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456
PENNSYLVANIA-LITTLE SCHUYLKILL.
COAL OPERATIONS FROM COMMENCEMENT TO DATE.
Year.
Tons.
Year.
Tons.
Year.
Tons
Year.
Tons.
1932
14,000
1839
9,000
1846
91,007
1853
384,443
1833
40,000
1840
20,000
1847
106,401
1854
444,184
1834
34,000
1841
40,000
1848
162,626
1855
426,208
1835
41,000
1842
37,000
1849
174,758
1856
454,514
1836
35,000
1843
31,000
1850
211,960
1857
361,338
1837
31,000
1844
59,345
1851
310,307
1858
388,705
1838
13,000
1845
75,998
1852
325,099
1859
362,102
1st 7 years
208,000
2d 7 years
270,343
3d 7 years
1,382,158
4th 7 years
2,821,554
Average
29,714
Average
38,620
Average
197,151
Average
403,079
-making a total in the 23 years, 1832 '59, of 4,702,055 tons, or an average of 167,930 tons annually
GENERAL STATEMENT, 1ST DECEMBER, 1859
Dr.
Cr.
Lands, improvements, etc
$1,530,167
Share capital
$2,256,100
Railroad and appurtenances
1,416,188
Mortgage loan of 1860
327,500
Real estate, buildings and lots
155,093
Mortgage loan of 1877
625,500
Locomotives. cars, horses, tools, etc
76,671
Bills payable
47,500
Suspended debt
162,718
Sundry accounts
57,335
Due from rents, tolls, lots, etc
106,747
Dividends uncalled for
1,986
(in dispute, $46,855.)
Sinking fund, 1877
116
Bills receivable
3,174
Cancelled bonds, 1877
27,500
Cash
3,296
Sinking fund, 1860
3,359
Wood and oil on hand
255
Cancelled bonds, 1860
10,500
Reserve fund
96,913
Total
$3,454,309
Total
$3,454,309
STATEMENT EXHIBITING THE CONDITION OF THE COMPANY ANNUALLY.
1853.
1854.
1855.
1856.
1857.
1858.
1859.
Liabilities-
$
$
$
$
$
$
$
Share capital
1,517,700
2,265,500
2,606,100
2,606.100
2,256,100
2,356,100
2,256,100
Mortgage loan, 1860
500,000
500,000
138,500
419,500
400,000
340,000
327,500
Mortgage loan, 1877
600,000
644,000
625,500
Bills payable
518,798
406,907
96,449
159,087
65,601
15,000
47,500
Sundries
71,463
32,733
11,274
29,700
30,529
43,569
59,321
Profit and loss.
82,736
95,537
108,323
110,706
88,612
43,475
Reserve and sinking funds
85,390
147,005
161,160
197,432
123,411
41,475
Resources-
Lands and improvements
1,227,808
1,353,199
1,502,070
1,577,410
1,599,721
1,541,125
1.530,167
Railroad, etc
960,666
1,273,018
1,373,270
1,395,308
1,439,578
1,416,920
1,416,188
Real estate and buildings.
198,383
207,570
207,670
207,670
207,396
182,396
155,094
General property, equip., etc.
119,019
155,171
179,755
181,738
190,962
100,583
76,671
Cash
21,045
33,960
12,714
2.592
9,673
5,099
3,296
Bills receivable
34,164
209,965
81,668
72,728
32,987
22,462
3,174
Sundry dues
19,994
18,482
89,979
78,905
106,747
Suspended debts
129,612
153,184
25,922
21,147
20,761
114,001
162,718
Wood and oil on hand
4,587
9,178
8,960
4,563
255
Total
2,690,697
3,386,067
3,407,651
3,486,253
3,638,275
3,466,056
3,454,309
Cosr, EARNINGS, EXPENSES, Erc., YEARLY.
Gross earnings
Total
Leave
Freight Freight
Total
Current
Earnings
Dividend
cost of road
Mile-
of coal
& tolls & tolls,
gross
expenses,
less
Year.
& property.
age.
& rents.
on
coal.
gen.
trade.
earnings.
total.
expenses.
am't.
rate
1852
$2,336,605
23.50
$119,052
$181,580
$21,408
8322,040
$165,909
$156,131
$93,452
7
1853
2,505,896
23.50
77,083
200,717
23,553
301.353
91,257
210,076
109,628
7
1854
2,988,958
31.50
100,831
229,340
28,255
358,426
99,736
258,690
130,046
7
1855
3,262,766
31 50
84,253
220,360
48,688
353,301
97,370
255,931
182,680
7
1856
3,362,127
31.50
59.818
234,193
60,601
354,612
137,386
217,226
156,366
6
1857
3,437,657
31 50
83,785
187,731
56,017
327.533
115,336
212,197
182,427
8
1858
3,241.025
31.50
41,124
201,367
30,689
273,180
93,717
179,463
nil.
nil.
1859
3,178,120
31.50
46,474
189,071
28,725
264,270
131,313
132,957
"
"
8 years
24,313.154
236.00
612,420
1,644.359
297,936
2,554,715
932,024
1,622,691
854,599
Average.
3,039,144
29.50
76,552
205,545
37,242
319,339
116,503
202,836
106,825
5f
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PENNSYLVANIA-LYKENS VALLEY.
457
LITTLESTOWN RAILROAD.
(Financial year ending 30th November, 1859.)
JOSEPH FINK, President
LITTLESTOWN, Adams Co., Pa.
LENGTH OF RoAD-Littlestown to Hanover
7.25 miles.
Second track, none. Sidings, turnouts, etc., 0.29 mile.
ROLLING STOCK
Furnished by the Hanover Branch Company, etc.
The Littlestown Railroad Company was chartered on the 17th February,
1854. Construction was commenced in 1858, and the road completed in
1859. It is operated on shares by the Gettysburg Railroad Company.
SHARE CAPITAL-Authorized, $75,000 in 1,500 $50 shares.
Paid in, - $45,000 on 1,075
"
FUNDED DEBT-
$22,000. I FLOATING DEBT
$11,446.
Cost OF ROAD AND APPURTENANCES-$76,000. No detail.
LORBERRY CREEK RAILROAD.
PRINCIPAL OFFICE
No. 46 North 17th street, PHILADELHHIA, Pa
LENGTH OF RoAD-Lorberry Mines to Swatara Railroad
5.13 miles.
The Lorberry Creek Railroad Company was chartered on the 30th March,
1830, and the road completed in 1840. It is used solely as a coal road and
as a feeder of the Union Canal. Paid in capital, $7,120; funded debt,
$3,500; cost of road, $10,000. Coal tonnage for 1859, 68,766 gross tons.
The net earnings usually pay from 6 to 8 per cent. on the cost.
LYKENS VALLEY RAILROAD.
(Financial year ending 30th November, 1859.)
GEORGE E. HOFFMAN, President
MILLERSBURG, Dauphin Co., Pa.
LENGTH OF RoAD-Wiconisco to Millersburg
15.50 miles.
Second track, 1.50 mile. Sidings, turnouts, etc., 0.76 mile.
Branches-One belonging to South Mountain Coal Company, and one to the Lykens
Valley Coal Company. None owned by this company.
ROLLING STOCK-Locomotive engines.
3
Cars :-passenger, 1; freight and baggage, 3; coal, none
4
The coal cars run on this road belong to the coal operators using it 32,064
passed over the road in 1859, carrying 155,480 gross tons of coal.
The Lykens Valley Railroad Company was chartered on the 7th April, 1830,
and the roadway brought into operation in 1839. It is used almost solely as
a coal road. The road was rebuilt in 1847, having been in disuse several years.
SHARE CAPITAL-Authorized and paid in, $400,000, in 20,000 $20 shares.
FUNDED DEBT
None. FLOATING DEBT
$33,500.
COST OF ROAD AND EQUIPMENT-$429,000. No detail.
58
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458
PENNSYLVANIA-MKEAN COUNTY.
STATEMENT of the Amount of Semi-Anthracite Coal received from the Lykens Valley Mines,
at Millersburg, Yearly.
Year.
Tons.
Year.
Tons.
Year.
Tons.
Year.
Tons.
1849
25,325
1852
59,857
1855
117,221
1858
127,845
1850
37,763
1853
69,207
1856
102,926
1859
136,713
1851
54,200
1854
107,500
1857
121,739
1860
1st 3 years
117,288
2d 3 years
236,564
3d 3 years
341,896
Two yrs., 58-49 266,558
Average
39,096
Average
78,855
Average
113,962
Average
133,186
INCOME ACCOUNT FOR THE YEAR ENDING 30TH NOVEMBER, 1859.
Receipts-
Disbursements-
Passenger earnings
$816
Operating expenses
$23,236
Coal and freight earnings
54,531
Repairs of road
4,944
"
of rolling stock
729
"
of stations, etc
3,320
Salaries
3,100
Labor $11,359, oil $1,420
12,779
Earnings less expenses
7,239
Total
$55,347
Total
$55,347
M'CAULEY MOUNTAIN RAILROAD.
P. BLAKE, President of the Columbia Coal and Iron Co
Philadelphia, Pa.
LENGTH OF RoAD-M'Cauley Mountain Mines to a junction with Catawissa,
Williamsport and Erie Railroad
6 miles.
The M Cauley Mountain Railroad Company was chartered on the 5th May,
1854. The road was built in 1855-6, at a cost of $200,000. In 1858, in
pursuance of an act passed on the 19th April of that year, the company was
consolidated with the Columbia Coal and Iron Company. The road is used
solely for the transportation of coal from the M'Cauley Mountain mines, and
supplies no direct revenue to its owners.
M'KEAN COUNTY RAILROAD.
J. C. COLTON, President
Buffalo, N.Y.
ALFRED ELY, Treasurer
"
"
LENGTH OF RoAD-M'Kean County Coal Fields to Alleghany river, about 25 miles.
The M Kean County Railroad Company was incorporated under an act passed
on the 12th May, 1858, and authorized to construct a railroad from the head
of slackwater navigation of the Alleghany River to the coal fields of M'Kean
County. The work has already been commenced, and considerable progress
has been made towards the construction of the line. The coal of this county
is bituminous.
SHARE CAPITAL-Authorized, $500,000, in 10,000 $50 shares.
Paid in, - $
"
FUNDED DEBT-$
: described as follows-
1st Mortgage, 7 per cent., coupon bonds
$
-dated 1st July, 1858, and payable, principal in 20 years, and coupons
semi-annually, 1st January and 1st July, in New York City. The provision
under this mortgage is to the amount of $700,000. None of the bonds have
yet been passed into circulation.
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PENNSYLVANIA-MILL CREEK AND MINE HILL.
459
MAUCH CHUNK AND SUMMIT HILL RAILROAD.
(See Lehigh Coal and Navigation.)
MEADVILLE RAII,ROAD.
(See Atlantic and Great Western Railroad.)
MILL CREEK AND MINE HILL RAILROAD.
(Financial year ending 30th October, 1859.)
JOHN TUCKER, President
Philadelphia, Pa.
LENGTH OF ROAD-Palo Alto to Wolf Creek
4 09 miles
Second track, 1.76 mile. Sidings, turnouts, etc., 2.40 miles.
Branches-Twenty-two in number
8.43 miles.
Second track, none. Sidings, turnouts, etc., 2.11 miles.
ROLLING STOCK-None. The locomotives and cars are furnished by operators and
pay toll. The Phila. and Reading Company runs a passenger train over the road.
The Mill Creek and Mine Hill Navigation and Railroad Company was charter-
ed on the 7th February, 1828. The main line was completed in 1829. The
branches have been constructed at various times, and are being constantly
extended as found necessary for conducting operations.
SHARE CAPITAL-Authorized, $310,850, in $25 shares. (All paid.)
FUNDED DEBT
None. I FLOATING DEBT
None.
COST OF ROAD AND No detail.
GENERAL STATEMENT, DECEMBER, 1859.
Dr.
Cr.
Railroad
$308,849
Share capital
$310.850
Real estate
1,743
Revenue-tolls
$23,168
Mahonoy survey
$5,591
"
motive power
33,900-
57,068
Construction account
2,898
8,489
Balance
6,096
Roadway account
$9,794
Expense account
11,500-
21,294
Dividend, 10 per cent
32,639
Total
$373,014
Total
$373,014
CAPITAL, Cost OF ROAD, EARNINGS, EXENSES, ETC., YEARLY.
Capital
Cost of
Gross
Current Earnings -Dividend-
Year.
Share.
Debt.
Total
Road.
Earnings.
Expenses.
less Exp.
Am't.
Rate.
1848
$170,200
$4,114
$174,314
$184.896
$37,838
$11,103
$26,735
$17,233
10
1849
230,100
2,650
232,750
234,015
29,405
8,806
20,699
23,383
11
1850
230,100
1,271
231,371
233,715
36,579
10,860
25,719
24,160
101
1851
234,000
234,000
237,384
43,579
13,173
30,406
18,080
8
1852
234,000
234,000
237,384
52,755
16,599
36,150
35.100
15
1853
234,000
29,576
263,576
280,572
43,396
14,668
29,328
28,080
12
1854
292,575
2,369
294,944
295,852
56,826
15,003
41,823
28,080
12
1855
292,575
292,575
298,644
57,775
15,786
41,989
31,689
101
1856
302,250
302,250
310,592
62,479
17,654
44,825
44,445
16
1857
310.850
6,939
317,789
313,490
53,648
18,712
34,936
26,111
S
1858
310,850
310,850
310,850
44,060
17,506
26,554
18,650
6
1859
310,850
310,850
310,850
57,068
21,294
35,774
32,639
101
12 years
$3,152,350
$46,919
$3,199,369
$3,148,244
$575,408
$181,164
$394,244
$327,650
I
Average
262,696
3,909
266,605
262,354
47,850
15,096
32,853
27,304
101
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460
PENNSYLVANIA-MINE HILL AND SCHUYLEILL HAVEN.
MINE HILL AND SCHUYLKILL HAVEN RAILROAD.
(Financial year ending 31st December, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1860.
Samuel Mason
Philadelphia, Pa.
Samuel Welsh
Philadelphia, Pa.
John Livezey
"
"
J. P. Hutchinson
"
"
Jeremiah Hacker
"
"
Joshua W. Ash
"
"
Joseph Cresson
"
"
S. Morris Waln
"
"
Mordecai L. Dawson
"
"
Alex. J. Derbyshire
"
"
JOHN C. CRESSON, President
Philadelphia, Pa.
SAMUEL Mason, Treasurer
"
"
R. A. WILDER, Superintendent and Chief Engineer
Cressona,
"
PRINCIPAL OFFICE
PHILADELPHIA, Pa.
LENGTH OF RoAD-Schuylkill Haven to (Ashland) Mahonoy Valley or
Locust Mountain
24.50 miles.
Second track, 11.07 miles. Sidings, turnouts, etc., 22.18 miles.
Branch Lines and Extensions-(in number twenty-two)
47.78
"
Second track, 3.26 miles. Sidings, etc., 9.26 miles
ROLLING STOCK-Locomotive engines
29
Cars :-About 100 coal and working cars and trucks. Passenger and freight
business is done by the Union Transportation Company, which has on the road 2
passenger and 26 freight cars. The coal is drawn over the road in cars (about 3,000)
belonging chiefly to the Reading Railroad, and the Schuylkill Navigation companies.
The Mine Hill and Schuylkill Haven Railroad Company was chartered on the
24th March, 1828, and the main line from Mine Hill to Schuylkill Haven, 13
iniles, was opened for business in 1831. The numerous branches have been
built subsequently, and at various times. The principal extensions are
the-Tremont, 9 miles, completed in 1856, and the Ashland (now considered
as a part of the main road), 111 miles, completed in 1857. Almost every
succeeding year adds several miles in branches, etc., to the aggregate length
of the road. This line is one of the most important of the feeders of the
Philadelphia and Reading Railroad, and the Schuylkill Navigation.
SHARE CAPITAL-Authorized and paid in, $2,800,000, in 56,000 $50 shares.
Cost OF ROAD AND EQUIPMENT-$2,861,066, namely-
Cost of road and appurtenances
$2,594,228
1
Cost of equipment
$266,839
TONNAGE OF COAL AND MISCELLANEOUS FREIGHT TRANSPORTED.
The gross tonnage that passed over the road in 1859 was 1,625,853 tons
of coal and 19,821] tons of merchandise-total 1,645,675 tons. The gross
tonnage from 1831 to the end of 1859 (including amount of discount vary-
ing from 5 to 71 per cent., or 845,527 tons,) was 17,983,641 tons. In the
following table the gross tonnage, exclusive of discount, is shown for each
year from 1831 to the end of 1858, twenty-eight years
Year.
Tons.
Year.
Tons.
Year.
Tons
Year.
Tons.
1831
17,559
1838
142,485
1845
410,592
1852
1,025,221
1832
65,420
1839
150,919
1846
469,904
1853
1,016,733
1833
77,072
1840
171,409
1847
583,590
1854
1,181,726
1834
42,616
1841
238,180
1848
609,330
1855
1,534,876
1835
66,130
1842
195,014
1849
612,315
1856
1,614,887
1836
107,845
1843
257,012
1850
640,99S
1857
1,564,119
1837
170,230
1844
312,718
1851
842,809
1858
1,452,083
1st 7 years
546,872
2d 7 years
1,467,737
3d 7 years
4,169,538
4th 7 years
9,389,645
Average
78,124
Average
209,677
Average
595,648
Average
1,341,378
-being a total in 28 years of 15,573,798 tons, or on the yearly average 556,207 tons.
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PENNSYLVANIA-MINE HILL AND SCHUYLKILL HAVEN.
461
Quantity of coal transported over the main road and branches of the
Mine Hill and Schuylkill Haven Railroad Company's railroad for three
years, 1857-9
1859.
1858.
1857.
1859.
1858.
1857.
Main road
392.527
395,847
356,494
Tremont
16,033
17,068
18,671
Ashland
442,085
278,119
336,155
Tremont from Mt.
Wolf Creek
198,598
215,459
283,972
Engle
53.141
46,164
29,824
West West
128,892
170,932
189,960
Middle Creek
12,230
20,115
26,613
Swartara Falls
129,901
109,078
129,004
Big Run (includ-
Muddy Branch
127,397
110,487
121,336
ed in Ashland
Peaked Mountain
43,689
41,224
47,168
in 1858 & 1859)
8,044
Total
1,544,494
1,434,495
1,547,243
INCOME ACCOUNT FOR THE YEAR ENDING 31sT DECEMBER, 1859.
Receipts-
Disbursements-
Tolls and the use of motive power, and
Expenses of motive power
$159,187
company's share of passen'r business $580,448
Current expenses, road department
59,534
Deducted for tolls unpaid, and tolls re-
Salaries, rent, and incidentals, in Phila
8,404
mitted on coal sent to the poor
5,848
Current expenses in Schuylkill county
450
Damages
1,813
Balance of the tolls account
$574,599
Iron rails, re-rolling, &c
4,005
Balance to credit of rent accounts
2,259
Spikes, $590, interest on loan, $2
592
Old tolls account
1,500
State tax on dividends
14,934
Interest account
1,824
Div., No. 51, August, 1859, 5 per cent
140,000
Div., No. 52, January, 1860, 6 per cent.
168,000
State tax on last dividend
8,400
Balance to the repair fund
14,865
Total
$580,183
Total
$580,183
CASH ACCOUNT FOR THE YEAR ENDING 31sT DECEMBER, 1859.
Receipts-
Disbursements-
Balance on hand 1st January, 1859
$41,514
Road department
$132,079
Bills receivable paid and extended at
Motive power department
106,000
bank
476,762
City 6 por cent. stock purchased
23,017
Rents received
2,559
Stock in Mine Hill and Schuylkill Ha-
William Newell, Collector (cash remit-
ven Railroad Company
11,758
tances)
84,276
Scrip stock in do. do. purchased
11,710
Tolls account, for transportation of mail
225
Loans on collateral securities
211,600
Materials sold
313
Real estate
502
Interest received
1,735
Expense account in Philadelphia
8,504
Received on account of scrip stock
223,810
Expenses motive power department,
"
"
tolls unpaid
500
paid in Philadelphia
10,854
Temporary loans repaid
60,300
Current expenses, Schuylkill Co., paid
in Philadelphia
5,004
Rent
200
Bills receivable, credited at Bank and
refunded
248
Bills payable
3,127
Oil for engines
5,354
Dividend No. 48
120
Dividend No. 49
493
Dividend No. 50
139,992
Dividend No. 51
139,380
State taxes on dividends
27,237
Interest on loan
2
Interest on scrip stock, instalments
4,229
Damages
1,813
Expenses of protests
10
Spikes
590
Filling trestle work at planes
5,798
Work on Big Run extension
1,800
Iron rails
1,960
Re-rolling iron rails
4,005
Balance cash on hand
34,608
Total
$891,994
Total
$891,994
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462
PENNSYLVANIA-MOUNT CARBON
GENERAL STATEMENT, 1st JANUARY, 1860.
Cost of road and appurtenances
$2,594,228
Share capital
$2,800,000
"
equipment
206,838
Balance
104,692
Real estate, exclusive of roadway
60,018
Cash on hand
34,608
Total
$2,904,692
Total
$2,904,692
CAPITAL, Cost, EARNINGS, EXPENSES, ETC., YEARLY.
Gross Operating Earnings
Capital
Cost of
Earnings
Expenses
less
-Dividend.-
Year.
Share.
Debt.
Total.
Road, etc.
Total. & Repairs. Expenses. Am't. Rate.
1831
$65,795
$115,820
$181,615
$186,476
$2,563
$2,563
1832
66,655
114,395
181,050
186,476
14,803
4,934
$9,869
$4,666
7
1833
68,650
114,332
182,982
186,476
17,193
5,731
11,462
5,831
81
1834
107,450
75,000
182,450
186,476
9,326
4,663
4,663
1835
122,450
61,000
183,450
188,000
14,307
4,950
9,357
6,722
51
1836
132,450
60,000
192,450
195,000
23,796
8,328
15,468
12,158
91
1837
169,200
40,000
209,200
210,000
37,762
11,050
26,712
13,710
9
1838
180,450
40,000
220,450
225,000
31,516
7,280
24,236
18,947
101
1839
200,450
40,000
240,450
250,000
33,148
6.365
26,793
21,754
11
1840
222,900
40,000
262,900
250.000
38,058
5,248
32,810
24,101
111
1841
247,850
40,000
287,850
300,000
53,991
7,600
46,391
36,000
15
1842
277,600
40,000
317,600
320,000
44,520
8,420
36,100
33,312
12
1843
310,550
40,000
350,550
360,000
58,717
7,680
51,037
45,670
15
1844
310,550
40,000
350.550
360,000
56,279
8,373
47,905
46,582
15
1845
398,910
35,000
433,910
408,988
75,283
16,521
58,762
46,582
15
1846
400,000
20,000
420,000
425,100
85,285
10,107
75,178
56,479
15
1847
500,000
40,084
540,084
550,000
103,196
26,031
77,165
60,000
15
1848
600,000
120,000
720,000
750,000
143 815
56,562
87,253
77,000
14
1849
600,000
120,000
720,000
750,000
146,870
53,473
93,397
78,000
13
1850
800,000
800,000
800,000
157,152
57,374
99,778
75,000
12
1851
800,000
800,000
800,000
212,195
79,343
132,842
92,000
12
rS52
900,000
900,000
900,000
256,753
104,825
151,928
120,000
15
1853
1,000,000
1,000,000
1,000,000
262,235
121,003
141,232
128,000
15
1854
1,525,000
300,000
1,825,000
1,850,000
308,201
136,989
171,212
130,000
13
1855
1,800 000
300,000
2,100,000
2,150,000
458,072
234,612
223,460
204,000
12
1856
2,300,000
175,000
2,475,000
2,500,000
560,885
278,966
281,915
262,500
121
1857
2,500,000
250,000
2,750 000
2,750,000
564,592
252,973
311,619
270,000
12
1858
2,750,000
2,750,000
2,750,000
504,284
224,502
279,782
254,750
91
1859
2,800,000
2,800,000
2,800,000
580,183
248,918
335,365
308,000
11
29
years
22,156,910
2,200,631
24,357,541
24,587,992
4,854,969
1,993,384
2,861,685
2,431,764
Average.
764,031
75,884
839,915
847,862
167,412
68,737
98,675
83,854
111
MOUNT CARBON RAILROAD.
(Financial year ending 31st January, 1860.)
JOHN R. WHITE, President
PHILADELPHIA, Pa.
LENGTH OF Road-Mt. Carbon to south side of Mine Hill
1.26 mile.
Branches-Northwest, 2.50 miles, and Northeast, 250 miles
5.00 "
Second track, 4 miles. Sidings, turnouts, etc., 2.00 miles.
ROLLING STOCK
None
The Mount Carbon Railroad Company was chartered on the 20th April, 1829,
and the road completed and opened for business in 1831. The road is a
highway for coal, and the company derives 'its income solely from tolls.
Transportation is by horse-power at the expenses of the operators. The
Philadelphia and Reading, and the Schuylkill Navigation companies furnish
their own cars. The former runs passenger and freight cars over the road
between Mt. Carbon and Pottsville, paying for the privilege the cost of main-
taining that portion of the road.
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PENNSYLVANIA-MOUNT CARBON AND PORT CARBON.
463
SHARE CAPITAL-Authorized and paid in, $200,000, in 4,000 $50 shares.
FUNDED DEBT
None. FLOATING DEBT
None.
COST OF ROAD AND APPURTENANCES-$204,501. No detail.
INCOME ACCOUNT FOR THE YEAR ENDING 31sT January, 1860.
Receipts-
Disbursements-
Tolls: net receipts on 197,012 tons
$19,317
Repairs of road
$1,846
Interest
407
Expenses
558
Dividends, May & Nov., each 4 per cent.
16,000
State tax of 5 per cent. on dividends
800
Balance to profit and loss
520
Total
$19,724
Total
$19,724
GENERAL STATEMENT, 1ST FEBRUARY, 1860.
Dr.
Cr.
Railroad
$204,501
Share capital
$200,000
Materials and personal property
390
Debts due by company
1,673
Debts due to company
8,573
Balance of profit and loss from 1858
11,365
Cash on hand
94
"
"
" from 1859
520
Total
$213,558
Total
$213,558
CAPITAL, Cost OF ROAD, EARNINGS, EXPENSES, ETC., YEARLY.
Capital
Cost of
Mile-
Amount Expenses
Earn'gs
-Div--
Year.
Share.
Debt.
Total.
Road, etc.
age.
of
Tolls.
&
Repairs
less Exp
Am't. Rate
1843
$65,160
$60,000
$125,160
$131.605
6.26
$13,643
$5,938
$7,705
1844
65,160
61,458
126,618
150,929
6.26
23,328
16,414
6,914
1845
116,800
33,700
150,500
155,319
6.26
18,826
5,688
13,138
{ 27,060 30*
5,412
6+
1846
159,700
21,359
181,059
156,400
6.26
19,235
6,003
13,232
7,985
5
1847
159,700
20,751
130,451
174,708
6.26
16,036
12,882
3,154
7,985
5
1848
159,700
16,330
176,030
178,735
626
18,896
4.626
14,270
11,179
7
1849
159,700
11,774
171.474
178,735
6.26
17,461
4,469
12,992
9,582
6
1850
177,800
1,538
179,338
178,735
6.26
19,152
6,587
12,565
19,164
12
1851
178,000
1,053
179,053
180,099
6.26
19,476
4,137
15,339
10,677
6
1852
178,000
1,099
179,099
182,988
6.26
17,049
3,673
13,376
10,680
6
1853
178,000
1,168
179,168
195,162
6.26
12,942
2,575
10,367
1854
200,000
581
200,581
198,482
6.26
17,179
3,919
13,260
10,680
6
1855
200,000
1,007
201,007
198,482
6.26
17,459
2,153
15,306
12,000
6
1856
200,000
1,380
201,380
199,735
6.26
20,045
2,875
17,170
12,000
6
1857
200,000
2,734
202,734
199,750
6.26
17,702
1,942
15,760
14,000
7
1858
200,000
2,378
202,378
204,501
6.26
19,679
2,738
16,941
12,000
6
1859
200,000
1,673
201,673
204,501
6.26
19,724
2,404
17,320
16,000
8
17
yrs
$2,797,720
$239,983
$3,037,703
$3,068,846
106.42
$307,832
$89,023
$218,809
$186,404
Aver..
164,572
14,117
178,689
160,520
6.26
18,107
5,236
12,871
10 965
6;
MOUNT CARBON AND PORT CARBON RAILROAD.
(Financial year ending 31st October, 1859.)
JOHN TUCKER, President
PHILADELPHIA, Pa.
LENGTH OF RoAD-Mount Carbon to Port Carbon
2.50 miles.
Second track, 2.50 miles. Sidings, turnouts, etc., 6.33 miles.
ROLLING STOCK-Furnished by the Philadelphia and Reading RR. Co., and others.
The Mount Carbon and Port Carbon Railroad Company was chartered on the
16th July, 1842. Construction was commenced in 1843, and the road com-
pleted with a single track and brought into use in the latter part of 1844.
Stock. t Cash.
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404
PENNSYLVANIA-NEWCASTLE AND DARLINGTON.
In 1847-8 a second track was laid and a large amount of siding added. The
road was constructed for the transportation of coal. The company is neither
miner nor carrier, and its income is derived solely from tolls and rents. The
Reading Company runs a passenger car over the road, chiefly however for
the accommodation of the miners.
SHARE CAPITAL-Authorized and paid in, $282,350, in $50 shares.
FUNDED DEBT
None. FLOATING DEBT
None.
CosT OF ROAD AND APPURTENANCES-$282,350 in $50 shares. No detail.
INCOME ACCOUNT FOR THE YEAR ENDING 30TH NOVEMBER, 1859.
Receipts
Disbursements-
Tolls on 522,624 tons, of 2,000 lbs
$25,588
Expenses
$9,166
Rents
20,000
Divided Jan., 1859, 7 per cent
19,764
July, 1859, 5 per cent
14,118
Earnings not divided
2,540
Total
$45,588
Total
$45,558
GENERAL STATEMENT, 1ST DECEMBER, 1859.
Dr.
Cr.
Cost of road
$261,186
Share capital
$282,350
Cost of real estate
21,629
Surplus earnings
2,540
Balance
2,075
Total
$284,890
Total
$284,890
Earnings
Dividend.
Capital
Cost of
Miles
Gross
Operating
less
Rate
Year.
Share.
Debt.
Total.
road,
&c.
of
road.
earnings.
expenses.
expenses.
Am't.
pr.ct.
1845
$80,000
$60,000
$140,000
$140,000
2.50
$19,188
$13,814
$5,374
$4,800
6
1846
100,000
40,000
140,000
140,000
250
22,333
11,032
11,301
10,000
10
1847
200,000
20,000
220,000
220,000
2.50
25,811
9,764
16,047
16,000
8
1848
217,000
217,000
228,333
2.50
36,434
10,747
25,687
24,863
121
1849
230,700
230,700
230,833
2.50
34,320
6,877
27,443
27,221
12
1850
230,700
230,700
230,833
2.50
41,834
20,030
21,804
20,763
9
1851
230,700
230,700
230,833
2.50
46,331
13,918
32,413
28,837
121
1852
235,700
235,700
234,671
2.50
47,393
18,411
28,982
27,684
12
1853
235,700
5,007
240,707
236,764
250
49.391
12,344
37,047
37,123
15
1854
235,700
2,753
238,453
236,764
2.50
49,391
12,344
37,047
37,123
15
1855
235,700
12,836
248,536
245,383
2.50
56,268
15,359
40,909
37,123
15
1856
282,350
282,350
275,505
2.50
59,058
21,687
37,371
41,504
15
1857
282,350
282,350
282,350
2.50
49,572
19,747
29,825
31,129
101
1858
282,350
282,350
282,350
2.50
45,100
17,500
27,600
22,587
8
1859
282,350
282,350
282,350
2.50
45,568
9,166
36,422
33,882
12
15 years
3,361,300
140,596
3,501,896
3,496,969
37,50
628,012
212,720
415,292
400,639
..
Average
224,086
9,373
233,459
233,131
2.50
41,867
14,181
27,686
26,709
12
NEWCASTLE AND DARLINGTON RAILROAD.
LENGTH OF Roan-Newcastle to Darlington
13.00 miles.
The Newcastle and Darlington Railroad Company was chartered on the 13th
March, 1856. A grant of the same line had previously been made to the
Nicholson Run and Pine Swamp Railroad Company. The name of the
company was again changed by an act passed on the 31st January, 1857,
and the legal title is now the Pittsburg, Newcastle and Cleveland Railroad
Company. It is, however, more generally known by the title given in the
caption. Considerable work has been done on the road, and, as it will form
the southern section of the Erie and Pittsburg Railroad now partially com-
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PENNSYLVANIA-NEWCASTLE AND DARLINGTON.
465
pleted and the whole in progress, it is probable that it will soon be opened
to the public. At Newcastle the Cleveland and Mahoning Railroad will
form a connection. At Darlington it connects with the Pittsburg, Fort
Wayne and Chicago Railroad. By the way of Darlington and Newcastle
Pittsburg will be 138 miles from Cleveland and 133 miles from Erie.
NEW YORK AND ERIE RAILROAD.
(See New York and Eris Railroad of New York.)
LENGTH OF ROAD-In Pennsylvania.
42.25 miles
The New York and Erie Railroad enters Pennsylvania at two points-first
in Pike County, and second in Susquehanna County, and runs in the two
counties a distance of 421 miles. The right to enter Pennsylvania was con-
ceded by an act passed on the 16th February, 1841, and for this right the
New York and Erie Company pay to the State $10,000 annually.
NORTHERN CENTRAL RAILROAD.
(See Northern Central Railroad of Maryland.)
NORTH LEBANON RAILROAD.
(Financial year ending 31st October, 1859.)
JOHN KRAUSE, President
CORNWALL, Lebanon Co., Pa.
LENGTH OF RoAD-Cornwall Furnaces to Union Canal
7.52 miles.
Three branches-total length, 0.68 mile. Sidings, turnouts, etc., about 1,08 mile,
ROLLING STocK-Locomotive
2 I Coal and ore cars
120
The North Lebanon Railroad Company was chartered on the 2d April, 1850,
and the road completed and brought into operation in 1854. It is used
solely for the transportation of coal and ore.
SHARE CAPITAL-Authorized, $150,000, in 3,000 $50 shares.
Paid in, - $149,550, on 2,991
"
FUNDED DEBT
$149,550.
I
FLOATING DEBT
$17,213
COST OF ROAD AND EQUIPMENT-$309,195. No detail.
TONNAGE, 1859-196,821 tons, of 2,000 lbs., namely-
Merchandize
9.6
Pig and bar iron
23,522.9
Coal
29,694.7
Iron ore
132,699.6
Limestone
9,058.9
Copper ore
1,835.3
INCOME ACCOUNT FOR THE YEAR ENDING 31sT OCTOBER, 1859.
Receipts-
Disbursements-
Freight earnings
$18,330
Operating expenses
$6,658
Repairs of road
3,621
"
of rolling stock
1,716
Labor, $1,360; oil, etc., $687
2,047
Earnings, less expenses
4,238
Total
$18,330
Total
$18,330
59
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466
PENNSYLVANIA-NORTH PENNSYLVANIA.
GENERAL STATEMENT, 1ST NOVEMBER, 1859.
Dr.
Cr.
Road and appurtenances
$263,816
Share capital
$149,550
Equipment
45,379
Funded debt
146,250
Real estate
500
Floating debt
17,213
Debts due to company
58,911
Balance to profit and loss
55,593
Total
$368,606
Total
$368,606
NORTH WESTERN RAILROAD.
WILLIAM MAHER, President
BLAIRSVILLE, Indiana Co., Pa.
LENGTH OF Road-Blairsville to Newcastle
85 miles.
The North Western Railroad Company was chartered on the 9th February,
1853, and authorized to construct a road from the line of the Pennsylvania
Railroad at Blairsville, through Freeport and Butler to Newcastle in Law-
rence county and a connection at that point with the Cleveland and Mahon-
ing Railroad. Construction was commenced in August, 1853, and a large
amount of work has been done on the line. In 1858 the company became
embarrassed in its financial affairs, and was unable to pay the interest on its
bonded debt, amounting at the time of its failure to $800,000. On the 5th
July, 1859, the property was sold under process of foreclosure of the first
mortgage for a nominal sum, and was purchased on account of the bond-
holders, who have since formed a new company with a capital of $800,000.
No further steps have been taken towards the completion of the road.
NORTH PENNSYLVANIA RAILROAD.
(Financial year ending 30th November, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
John Brock
Philadelphia, Pa.
William C. Ludwig
Philadelphia, Pa.
John Jordan
"
"
Ellwood Shannon
"
"
Algernon S. Roberts
"
"
Edward C. Knight
"
"
J. Gillingham Fells
"
"
William L. Hirst
"
"
S. Morris Waln
"
"
Harry Conrad
"
"
John Kessler, Jr., and Robert F. Taylor
Directors on the part of the City of Phila.
FRANKLIN A. COMLY, President
Philadelphia, Pa.
WILLIAM WISTER, Treasurer
"
"
EDWARD ARMSTRONG, Secretary
"
"
SOLOMON W. ROBERTS, Engineer and Superintendent.
"
"
PRINCIPAL OFFICE
PHILADELPHIA, Pa.
LENGTH OF ROAD-Main Line-Philadelphia to Bethlehem
55.26 miles.
Branch Line, Lansdale to Doylestown
10.08 "
Hellertown to Shimersville
1.81
"
Total length of road owned by Company
67.15 miles.
Second track (main line), 1.5 mile. Sidings, etc., (main) 7 m., and (branches) 0.7 m.
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PENNSYLVANIA-NORTH PENNSYLVANIA.
467
ROLLING STocK-Locomotive engines
16
Cars (8.wheel) :-passenger, (1st class,) 14 and 2d class, 4.
18
Cars (8-wheel) :-freight and baggage
175
Cars (4-wheel) :-coal
538-731
The North Pennsylvania Railroad Company was incorporated under the title
of "Philadelphia, Easton and Water-Gap," on the 8th April, 1852, and
organized on the 16th August next succeeding. The first allotment for con-
struction was made on the 27th May and ground broken at Landis' Ridge
on the 16th June, 1853. On the 3d October following the name was changed
to " North Pennsylvania" agreeably with the provisions of an act passed on
the 18th April. The branch to Doylestown was authorized by a resolution
of the directory on the 8th December, 1853. The whole length of the road
authorized extends from Philadelphia, Pa., to Waverly, N.Y., 216.52 miles.
On the 2d July, 1855, the southern portion of the road, extending from
Willow street in Philadelphia to Gwynedd, 18} miles, was formally opened
for public use, and on the 7th October of the same year the Doylestown
Branch was completed. The northern section of the line to Shimersville
was completed on the 1st January and to Bethlehem on the 7th July, 1857.
The Shimerville Branch, which has been unproductive to the Company, has
been leased to the Lehigh and Delaware Water Gap Railroad Company for
the term ending 1st December, 1882, at a nominal rent of one dollar per
annum, conditional on that Company finishing its road between Freemans-
burg and Easton and building a bridge over the Lehigh River, on or before
the 1st December, 1862. Hitherto the net earnings have been insufficient
for the regular payment of interest on the Company's bonds.
SHARE CAPITAL-Authorized, $6,000,000, in 120,000 $50 shares.
Paid in, - $3,155,820, viz. : $3,149,000 on full paid
shares, and $6,820 on part paid shares; and held as follows:
28,000 shares, $1,400,000 by Philadelphia City.
1,250 "
62,500 by banks and insurance companies.
37,730 "
1,686,500 by individuals.
The city subscription was paid in bonds, which realized, after deducting
discounts and commissions, $1,280,884.
FUNDED DEBT-$2,787,000 classified as follows—
1st Mortgage, 6 per cent. coupon bonds
$2,500,000
-dated 4th April, 1855, and payable, principal 1st April, 1875, and coupons
semi-annually, 1st April and 1st October, at Philadelphia.
Chattel Mortgage, 10 per cent., coupon bonds
$287,000
-dated 1st April, 1857, and payable, principal 1st April, 1877, and coupons
semi-annually, 1st April and 1st October, at Philadelphia. The whole
amount of bonds provided under this mortgage is $500,000, secured on all
the real estate and rolling stock not included in the general mortgage.
FLOATING DEBT-$377,817; bills payable, ground rents, coupons overdue
and sundry balances and loans.
COST OF ROAD AND EQUIPMRNT-$6,236,678 in detail as follows-
Graduation and bridges
$2,394,861
Brought up
$4,774,104
Superstructure
741,803
Expended in construction 1858-'59
11,366
Engineering expenses
129,643
Equipment
366,997
Interest to stockholders
160,492
Station houses and shops
68,749
Interest account
295,919
Right of way
204,214
Discount on bonds
771,213
Real estate
385,661
Coupons
185,171
Telegraph
4,968
Salaries, incidentals, etc
95,002
Profit and Loss
420,619
Digitized by Google
468
PENNSYLVANIA-NORTH PENNSYLVANIA.
INCOME ACCOUNT FOR THE YEAR ENDING 30TH NOVEMBER, 1859.
Receipts-
Disbursements-
Passenger
$129,317
Roadway expenses
$19,959
Freight-coal
$84,065
Motive power
61,811
"
iron
17,572
Cars
14,445
"
timber
3,293
Transportation
46,462
1.
merchandise, local.
80,159
Salaries
10,236
"
"
through 25,369- 210,448
Taxes, rents, insurance, etc
3,771
Mail
2,756
Incidental, stationery, etc
1,769
Rents, etc
4,781
Temporary track, (Girard Avenue)
851
Balance to credit of Profit and Loss
188,398
Total
$347,302
Total
$347,302
The charges against net earnings for the year were-Coupons, 6 per cent. bonds, $150,000; cou-
pons, 10 per cent. bonds, $28,100; ground rents and mortgages, $4,622, and interest on Floating
Debt, $13,275-Total, $195,997.
GENERAL LEDGER BALANCE SHEET, 30TH NOVEMBER, 1859.
Dr.
Cr.
Construction and equipment
$5,425,430
Share capital
$3,155,820
Real estate
385,661
Funded Debt
2,787,000
Telegraph
4,968
Bills payable
138,223
Trustees
6,354
Ground rents and mortgages
88,973
Stock N. Penn. RR. Co
25,767
Coupons, Nos. 6, 7, and 8
1,022
Sundry accounts
16,180
Coupon, No. 9
49,210
Stores on hand
10,141
"
10
75,000
Profit and Loss
420,619
Unpaid accounts and loans
25,390
Cash on hand
25,518
Total
$6,320,638
Total
$6,320,638
Abstract exhibiting the financial condition of the company at the end of
the official years 1853-1859, inclusive:-
1853.
1854.
1855.
1856.
1857.
1858.
1859
Liabilities-
Share capital
$507,555
$2,121,870
$2,530,855
$3,051,865
$3,086,720
$3,086,710
$3,155,820
Mortgage, 6 per cent. bds
265,500
1,825,500
2,500,000
2,500,000
2,500,000
Chattel 10 p. c. mort. bds
100,000
214,500
287,000
Bills payable
484,689
360,654
461,863
220,165
183,260
138,222
Ground rents and mort's
105,338
96455
98,330
88,973
88,973
Coupons due
75,000
123,420
125,232
Sundry acc's. & balances
34,055
85,566
26,065
953
25,390
Resources-
Road and appurtenances
$334,085
$1,254,071
$2,772,620
$4,424,678
$5,032,732
$5,051,037
$5,063,401
Equipment
131,727
145,812
349,280
353,516
366,997
Real estate
11,335
355,288
383,330
390,040
391,915
385,661
385,661
Accident 17th July, 1856,
represented by stock
293,277
316,286
316,251
Trustees
6,354
6,354
Stock N. Penn. RR. Co
25,767
Cash and cash items
162,125
997,200
8,724
267,341
16,066
27,135
51,839
Profit and Loss
47,861
420,619
Total balance
507,555
2,606,559
3,296,401
5,521,148
6,106,280
6,197,816
6,320,638
COST, EARNINGS, EXPENSES, ETC., YEARLY.
Cost
Mile-
Gross Earnings
Operating
Earn'gs,
-Dir.-
Year.
of Road.
age.
Pass'r.
Freight.
Mails.
Total.
Expenses.
less
exp.
$
p.c.
1855
$3,296,401
28.80
$25,421
$4,446
$29,867
$29,867
nil. nil.
1856
5,253,807
28.80
56,339
18.050
74,369
62,592
11,797
"
"
1857
6,090,214
67.15
120,705
126,357
1,722
248,784
112,187
136,597
"
"
1858
6,164,328
67.15
119,363
174,766
2,765
296,894
134,824
162,070
"
"
1859
6,236,678
67.15
129,317
210,448
7,537
347,302
158,904
188,398
"
"
5 years
27,041,428
259.05
451,145
534,067
12,024
997,236
498,374
498,862
"
"
Aver
5,408,285
51.81
90,229
106,813
2,405
199,447
99,675
99,772
"
46
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PENNSYLVANIA-PENNSYLVANIA.
469
OHIO AND PENNSYLVANIA RAILROAD.
LENGTH OF RoAD-Allegbany City, Pa., to Crestline, Ohio
187 miles.
Second track, 26 miles. Sidings, turnouts, etc., about 10 miles.
The Ohio and Pennsylvania Railroad Company was chartered in Ohio on the
24th February, 1848, and in Pennsylvania on the 11th April of the same
year. The company was first organized on the 17th May following, and
construction was commenced on the 4th July, 1849. The road was com-
pleted in sections, as follows-from Pittsburg to Rochester, 25 miles, 30th
July; to Clark's Summit, 36 miles, 22d October; to Enon Valley, 44 miles, 19th
November; and to Palestine, 49 miles, 8th December, 1851; to Columbiana,
59 miles, 3d January; to Alliance, 82 miles, (13 miles east from Alliance
had been opened 27th November, 1851,) 6th January; to Massillon, 108
miles, 11th March, and to Wooster, 134 miles, 10th August, 1852; to Mans-
field, 174 miles, 8th April, and to Crestline, 187 miles, 11th April, 1853.
The charter authorized the construction of a road to the Indiana line, but
the Company determined to stop at this point, and the remainder of the road
in Ohio was built by the Ohio and Indiana Company. On the 11th March,
1853, an act was passed by the Ohio Legislature, and on the 16th April by
the Pennsylvania Legislature, authorizing the company to consolidate with
the Ohio and Indiana and the Fort Wayne and Chicago Companies, under
the title of the Pittsburg, Fort Wayne and Chicago Company, which see.
Articles of consolidation were signed on the 6th May, and approved by the
stockholders on the 2d July; and on the 1st August, 1856, the union was
consummated. The road up to this date had cost $6,243,394, viz.-Share
capital, $2,651,030; bonds, $4,091,000; floating debt, $398,126.
COST, EARNINGS, EXPENSES, ETc., YEARLY.
Cost
Mile-
Gross Earnings
Operating Earnings,
-Div.-
Year.
of Road.
age. Pass'gers. Freight. Mails, etc. Total. Expenses. less exp.
8
p.c.
*
*
1851
$2,177,116
62.00
$30,074
$2,269
$32,343
$14,259
$18,084
1852
4,206,811
134.00
231,081
84,037
315,118
142,133
172,985
#
*
1853
4,990,291
187.00
476,067
191,937
Included
668,004
301,639
366,365
142,148
71
1854
5,248,419
187.00
684,755
426,871
in
1,111,626
541,871
569,755
181,435
7
1855
5,887,490
187.00
644,850
331,474
Freight.
976,324
449,553
526,771
80,442
4
1856
6,079,971
187.00
337,517
259,816
597,333
307,819
289,514
nil.
nil.
+5 yrs.28,590,098
944.00
2,404,344
1,296,404
3,700,748
1,857,274
1,843,474
404,025$
Aver.
4,765,016
157.33
480,868
259,281
740,149
371,455
368,694
115,436
6
PENNSYLVANIA RAILROAD.
(Financial year ending 31st December, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1860.
J. Edgar Thompson
Philadelphia, Pa.
John Hulme
Philadelphia, Pa.
Washington Butcher
"
"
G. D. Rosengarten
"
"
William R. Thomson
"
"
Wistar Morris.
"
"
Josiah Bacon
"
u
George W. Cass
Pittsburg,
y
Thomas Mellon
"
"
William H. Smith
"
"
-elected by the stockholders.
John M. Kennedy
Philadelphia, Pa.
I
Samuel T. Bodine
Philadelphia, Pa.
-elected by the city by Philadelphia.
Thomas A. Scott
Philadelphia, Pa.,-elected by the Board.
Interest was paid on share capital while the road was under construction. + From 30th
July, 1851. to 1st August, 1856-5 years. t Total for 31 years, $404,025, vix.-$222,216 in cash
and $181,809 in stock.
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470
PENNSYLVANIA-PENNSYLVANIA.
J. EDGAR THOMSON, President
Philadelphia, Pa.
THOMAS A. Scort, Vice-President and General Superintendent
, " "
THOMAS T. FIRTH, Treasurer
PRINCIPAL OFFICE
PHILADELPHIA, Philadelphia Co., Pa.
LENGTH OF ROAD AND BRANCHES.
Eastern Division -Philadelphia to Columbia
81.14 miles.
Second track, 81.14 miles. Sidings, etc., 8.43 miles.
Middle Division-Harrisburg to Altoona
131.70 "
Second track, 76.06 miles. Sidings, etc., 16.62 miles.
Western Division-Altoona to Pittsburg
118.30 "
Second track, 91.08 miles. Sidings, etc., 15.76 miles.
Hollidaysburg Branch-Altoona to Hollidaysburg
9.08 "
Second track, none. Sidings, etc., 0.57 miles.
Indiana Branch-Blairsville to Indiana
18.99 "
Second track, none. Sidings, etc., 1.32 mile.
Total length of main line and branches
359.21 miles.
Second track, 249.00 miles Sidings, etc., 42.7 miles.
Harrisburg and Lancaster Railroad, Dillerville to Harrisburg 36.31
"
Leased
~~~~
Columbia Branch, Middletown to Columbia.
18.52
"
Westchester Railroad, Junc. (23 m. W. of Ph.) to Westchester 9.00
"
Total length of road operated by Company
423.04 miles.
ROLLING STocK-Locomotive engines
205
Passenger (8-wheel) cars:-Wide, 64; narrow, 23 ; emigrant, 37
124
Other (8-wheel) cars :-Baggage, 35 express, 8; house freight, 1,330;
powder, 4; stock, 266 coal and lumber, 415 ; wood, 72
2130
Cars (4-wheel) :-House freight, 116; coal, 106 ; gravel, 87 service, 229 538
LENGTH AND CHARACTERISTICS OF CANAL.
-Length-
-Locks-
Total
Slack water
Canal
Outlet
Guard
Lift
Weigh
Total
Divisions.
Bridges
:
Aqueducts 11
16 Calverta :
Waste ways 10
Dams
Eastern-Columbia to Susquehanna June
46
0.3
45.7
4
2
23
1
30
101
2
Lower Juniata-Susquehanna Junction to
Head of Guard Lock, Huntingdon Dam
90
0.2
89.8
2
3
33
1
39
89
18
46
27
5
Upper Junista-Head of Guard Lock, Hun-
tingdon Dam, to Hollidaysburg
37
16.5
20.5
13
13
20
1
47
66
5
2
17
14
Lower Western-Lower Outlet Lock at
Pittsburgh to Head Guard Lock, Blairs-
ville Dam, inclusive
73
18.0
55.0
5
6
20
1
32
120
10
22
24
5
Upper Western-Head Guard Lock, Blairs-
ville, to Johnstown
30
9.0
21.0
5
5
25
1
36
37
5
12
14
7
Grand total
276 44.0 232.0 29 29 121 5 184 413 49 98 92 33
The Pennsylvania Railroad Company was chartered on the 13th April, 1846,
with authority to construct a road from Harrisburg to Pittsburg, and
branches to Erie, Blairsville, Uniontown, and to any parts of the counties
through which the main road might pass.] The capital authorized was
$10,000,000, which amount by subsequent acts was increased to $14,000,000;
and in consideration of the privileges granted, and for the protection of the
public works, the Company were to pay to the State three mills for every ton
of freight carried one mile. The State also reserved to itself the right to pur-
chase the road at the expiration of 20 years at cost, with 8 per cent. interest
thereon, deducting the profits of the Company; but if this right should not
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PENNSYLVANIA-PENNSYLVANIA
471
be exercised, then the Company to continue possession for a further period
of 20 years, and so on from 20 years to 20 years.
The work of construction was commenced in July, 1847, and 60; miles of
the road from Harrisburg to Lewistown was opened 1st September, 1849
to McVeytown, 72 miles, 24th Dec., 1849; to Shaeffer's, 85 miles, 1st April,
1850; to Huntingdon, 96 miles, 10th June, 1850 and to Hollidaysburg, 137
miles, 16th September, 1850. At the last named place it made a connection
with the Alleghany Portage Railroad, a State work and at that time used
for the transportation of boats over the mountains from one division of the
State Canal to another. On the Western division the road was completed
from Johnstown, the western terminus of the State road, to Lockport, 18
miles, 25th August, 1851 thence to Beatty's, 21 miles, and from Pittsburg
to Turtle Creek, 13 miles, 10th December of the same year; and from Turtle
Creek to Beatty's, 26 miles, 10th December, 1852. The mountain division
of the road, between Altoona and the Portage Viaduct, 39 miles, was com-
pleted on the 15th February, 1854. The Indiana Branch from Blairsville to
Indiana, 161 miles, was completed on the 9th June, 1856. The laying of the
second track was commenced in 1854, and is still progressing.
On the 23d March, 1853, an act was passed authorizing the Company to
subscribe capital, or guarantee the bonds of other companies, to the extent
of 15 per cent. of its own paid up capital. Under this authority the com-
pany exchanged stocks with the Cincinnati and Marietta Railroad Company.
to the amount of $650,000 with the Maysville and Big Sandy to the amount
of $100,000; with the Springfield, Mount Vernon and Pittsburg to the
amount of 100,000 with Ohio and Indiana, and the Ohio and Pennsylvania
to the amount of $600,000, which last sum has been increased by dividends
paid to $816,500. In 1858 the three subscriptions first named were charged
off as worthless.
Up to August, 1857, the Company had run their cars into Philadelphia
over the Philadelphia and Columbia Railroad, under contract with the Com-
missioners of Public Works. On the 1st of that month, in pursuance of an
act passed by the Legislature, and a vote of the stockholders on the
13th July, this road and also the main line of the public works, was pur-
chased by the Company. The price paid for the whole was $7,500,000, for
which the Company issued to the State its bonds bearing 5 per cent. interest,
and made payable in annual instalments of $100,000 until the 31st July,
1890, and after that date of $1,000,000 until the whole be paid. These are
now operated by the Company, with the exception of the Alleghany Portage
Railroad, which has been abandoned. By the terms of the contract of sale
the State relinquished its right to buy the road as provided in the original
charter.
In 1858, the bridge over the Alleghany river was completed, and a junc-
tion made with the Pittsburg, Fort Wayne and Chicago Railroad. A further
improvement is contemplated, that of making a terminus on the Delaware
so as to avoid the inconvenience and expense of drayage within the city of
Philadelphia.
The contract with the Harrisburg and Lancaster Railroad Company, for
the use of its road, was made on the 21st of April, 1849, to continue twenty
years. It provides for the payment of certain rates per passenger, and per
ton of merchandise, to be determined by arbitrators, every two years. The
contract with the West Chester Company is for five years from April, 1859.
For the terms of these contracts, see the respective companies with which
they were made.
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472
PENNSYLVANIA-PENNSYLVANIA.
SHARE CAPITAL-Authorized by charter, $10,000,000, in 200,000 $50 shares.
Authorized by act, 23d Apl., '52, $3,000,000, in 60,000
"
"
by act, 6th May, '52, 1,000,000, in 20,000
"
Total Share Capital authorized
$14,000,000 in 280,000
Paid in
13,249,125 on
"
"
FUNDED Desr-$16,153,680; described as follows—
1st Mortgage, 6 per cent., dollar bonds
$4,905,000
-dated 14th October, 1852, and payable 31st December, 1880 interest semi-
annually 1st January and 1st July in Philadelphia..
2d Mortgage, 6 per cent., dollar bonds
$2,309,000
-dated 1st June, 1854, and payable 31st March, 1875 interest semi-
annually 1st April and 1st October in Philadelphia.
2d Mortgage, 6 per cent., sterling bonds
$1,639,680
-dated 1st June, 1854, and payable 31st March, 1875; interest semi-
annually 1st April and 1st October in London.
The second mortgage pro-vided for an issue of bonds to the amount of
$5,000,000.
State Works Purchase, 5 per cent., bonds
$7,300,000
-dated 31st July, 1857, and payable, principal in instalments on the 31st
July yearly of $100,000, but on and after 31st July, 1890, $1,000,000, and
interest semi-annually, 31st July and 31st January, at Harrisburg; the
whole to be paid off by the 31st July, 1894.
FLOATING DEBT-$789,214: consisting of mortgages and ground rents on
real estate, $321,611; bills payable, $254,163; accounts, $222,438.
INCOME ACCOUNT FOR THE YEAR ENDING 31sT DECEMBER, 1859.
Earnings-
Expenses-
Passenger earnings
$1,420,912
Maintenance of road
$671,100
Freight
"
3,656,111
"
motive power
S64,077
Express
"
75,120
"
cars
190,278
U.S. mail
"
74,483
Transportation expenses
1,333,041
Rents
41,682
General expenses
72,242
Individuals and Companies
36,860
Net earnings from railroad
2,231,617
Incidental
57,186
Total railroad
$5,362,355
Total railroad
$5,362,355
Canal-Eastern Division
$152,871
Canal-Repairs, renewals, etc $140,105
"
Juniata
"
26,824
"
Salaries and wages
35,347
"
Western
"
15,514
"
Net earnings
22,097-197,549
"
Miscellaneous receipts
2,340-
197,549
Total railroad and canal
$5,559,904
Total railroad and canal
885,559,904
General CASH ACCOUNT FOR THE YEAR ENDING 31sT DECEMBER, 1859.
Receipts-
Disbursements-
Railroad
$5,211,771
Railroad (including tolls paid other
Canal
200,887
roads, etc)
$2,862,266
Canal
177,677
Interest 1st and 2d Mortgage bonds
528,820
"
State bonds
370,000
Dividends on stock
788,745
Surplus profits (omitting tonnage tax
$266,134)
685,150
Total
$5,412,658
Total railroad
$5,412,658
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PENNSYLVANIA-PENNSYLVANIA.
473
OPERATIONS IN TRANSPORTATION.
1.-TRAIN MILEAGE AND AGGREGATE TRAFFIC, 1855-59.
-Miles run by Trains-
-Passengers carried-
-Tons Freight carried-
Year.
Passenger.
Freight.
Number.
One mile.
Number.
One mile.
1855*
680,464
1,183,566
798,483
41,871,267
365,006
102,171,312
1856
646,886
1,377,284
864,298
42,147,582
453,992
119,836,501
1857
797,432
1,744,831
1,134,496
54,408,241
530,420
131,569,269
1858
980,338
2,209,148
968,304
45,934,952
586,267
148,630,758
1859
1,031,283
2,106,307
1,074,570
50,649,482
754,354
170,255,033
5 years
4,136,403
8,621,136
4,840,151
235,011,524
2,690,039
672,462,873
Average
827,281
1,724,227
968,030
47,002,306
538,008
134,492,575
2.-INDIVIDUAL PASSENGERS CARRIED 1855-59, INCLUSIVE.
-Phila. Div. Pa. RR.
-Col. Br. II. & L. RR.-
-Har. & Lanc. RR.-
Penna. RR.
Year.
West'd.
East'd.
West'd.
East'd.
West'd.
East'd.
West'd.
East'd
1855'
24,562
19,574
97,019
80,359
301,241
275,728
1856*
22,003
18,870
91,292
80,485
336,755
314,893
1857 154,280
146,112
20,873
18,217
91,143
77,500
330,755
295,616
1858 149,925
151,417
23,104
18,899
78,453
72,207
241,230
233,069
1859. 179,152
172,246
44,324
29,408
. 77,114
76,246
244,379
249,791
Total 483,357
469,775
134,866
104,968
435,021
386,197
1,454,360
1,369,007
Aver. 161,119
156,592
26,973
20,993
87,004
77,359
290,872
273,801
3-FREIGHT TRAFFIC FOR THE YEARS 1855-59, INCLUSIVE.
Through Freight
Local Freight
Total Freight
Year.
East'd
West'd.
Total.
East'd.
West'd.
Total
East'd.
West'd.
Total.
1S55
106,407
65,565
171,972
127.614
65,420
193,034
234,021
130,985
365,006
1856
88.707
76,456
165,163
196,230
92,599
285,829
284,937
169,055
453,992
1857
94,905
77,168
172,073
238,127
120,220
358,347
333,032
197,388
530,420
1858
141,268
79.942
221,210
237,286
127,771
365,057
378,554
207,713
596,267
1859
129,767
103,839
233,606
350,374
170,374
520,748
480,141
274,213
754,354
5 years
561,054
402,970
964,024
1,149,631
576,384
1,726,015
1,710,685
979,354
2,690,039
Average 112,211
80,594
192,805
229,926
115,277
345,203
342,203
195,871
538,008
POUNDAGE OF ARTICLES FORW'D FROM AND REC'D AT PHILA. 1855-59.t
Forwarded
Received
Total Trade
Forwarded
Received
Total Trade Total by cars
Year.
to
from
with
to Way
from Way
with Way
of
Pittsburg.
Pittsburg.
Pittsburg.
Stations.
Stations.
Stations.
Penn. RR. Co.
1855.- 131.099,331
212,968,148
344,067,479
26,921,180
154,691,147
181,612,327
525.679.806
1856. 152.903.718
177,415,403
330,319,121
31,583,267
244,392,347
275,975,614
606,294,735
1657. 154,336,656
189,809,125
344,145.781
30,464,339
318,644,592
349,108.931
693.254.712
1858. 159,888,200
282,530,670
442,418,870
34,296,313
232,204,482
316,500.795
758.919.665
207,677,029
259,533,638
467,210,667
53,277,329
355,504,730
408,782,059
875,992,726
5
yrs.
805,904,934
1,122,256,984
1,928,161,918
176,542,428
1,355,437,298
1,531,979.726
3,460,141,644
Aver
161,180,987
224,451,397
385,632,284
35,308,486
271,087,459
306,395,945
692,028,329
* Philadelphia Division of the road not included.
t Not including that carried to and from Way Stations by individual transporters since 1st
August, 1857, viz 1S57, P. to W. S. 37,732,971, and W. S. to P. 50,417,699 1858, P. to W.S.
£0,537,925, and W. S. to P. 138,823,499; 1859, P. to W. S. 120,455,700, and W. S. to P. 96,948,177.
60
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474
PENNSYLVANIA-PENNSYLVANIA COAL COMPANY.
GENERAL LEDGER BALANCE SHEET, 1ST JANUARY, 1860.
Dr.
Cr.
Cost of road, from Harris-
Share capital
$13,249,125
burg to Pittsburg, etc.816,904,525
Funded debt-
Less profits to 1st Nov., '55,
1st Mort. 6p.c. 8 bds, '80-$4,905,000
credited to cost, as re-
2d "
"
"
'75. 2,309,000
quired by charter
589,185-16,316,339
"
"
"stg." '75. 1,639,680
State works, 5p. c. bonds 7,300,000-16,153,680
Phila. and Columbia RR. $6,500,000
Canal and Portage RR
1,000,000-7,500,000
Floating debt-
Motive power and cars
2,974,473
Mortgages and ground
Real estate
1,644,031
rents on real estate
$315,479
Telegraph Line
45,264
Bills payable
236,388
Extension of road to S. & P. RR
5,214
Accounts payable
216,970-
768,837
Stock of P. Ft. W. & Chic. RR. Co
816,050
Bonds, Municipal and Railroad
46,712
Contingent Fund
406,874
Bills and accounts receivable
805,135
Interest and dividends due
Sinking Fund
$482,230
(unpaid)
$20,309
Less $10,000 per month from
State tax on bonds and
income of road
204,975-
277,255
dividends
25,041-
45,350
Fuel and materials on hand
316,549
Balance to credit of profit and loss,
Balances in hands of agents
269,942
after deducting discount on 2d
"
"
treasurer
340,868
Mortgage bonds sold during year.
732,966
Total
$31,356,832
Total
$31,356,832
COST, EARNINGS, EXPENSES, ETC., YEARLY, FOR TEN YEARS, COMMENCING WITH
1850 AND.ENDING WITH 1859.
Cost of Road, Mile-
Gross Earnings
Operating
Earnings,
-Div.-
and equip't.
age.
Passengers.
Freight.
Mails, etc.
Total.
Expenses.
§
less exp.
8
p.c
$35,112,452
137.0
$229,142
$101,622
$9,520
$339,452
$172,244
$167,208
Interest.|| 6
5,798,090
183.1
404,772
326,827
23,075
754,674
406,809
347,865
"
6
11,275,901
209.8
1,080,840
780,892
82,096
1,943,828
1,326,802
617,026
"
6
14,636,433
259.2
1,134,908
1,507,521
132,460
2,774,889
1,673,681
1,101,208
11
6
17,158,496
259.2
1,292,581
2,026,612
189,999
3,509,192
2,049,918
1,359,274
6.
6
18,460,847
259.2
1.251,857
2,805,306
212,907
4,270,070
2,340,738
1,829,277
"
6
19,048,912
275.4
1,198,927
3,244,291
276,906
4,720,124
2,814,568
1,905,626
758,797
6
$25,766,981
359.2
1,244,868
3,374,041
236,750
4,855,659
3,000,743
1,854,926
454,908
31
$26,272,672
359.2
1,372,237
3,536,206
276,888
5,185,331
3,021,885
2,163,446
715,383
5
$26,584,221
359.2
1,420,912
3,656,111
285,332
5,362,355
3,130,738
2,231,617
788,745
6
170,115,005
2,660.5
10,631,044
21,359,429
1,725,101
33,715,574
19,938,126
13,777,448
2,717,833
17,011,500
266.0
1.063,104
2,135,943
172,510
3,371,557
1,993,812
1,377,745
679,458
51
PENNSYLVANIA COAL COMPANY'S RAILROAD.
(Financial year ending 30th April, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
Jonathan Thorne
New York City, N.Y.
Charles Morgan
New York City, N.Y.
Wm. R. Griffith
"
"
George A. Hoyt
"
Isaac L. Platt
"
"
Thos. W. Pearsall
"
"
William H. Falls
"
"
Wm. F. Havemeyer.
6.
::
JOHN EWEN, President
New York City, N.Y.
GEORGE A. Horr, Treasurer
"
"
ED. H. MEAD, Secretary
"
"
PRINCIPAL OFFICE
No. 90 Broadway, NEW YORK CITY, N.Y.
* The tonnage tax for 1859 and part of 1858, (omitted in the above statement,) claimed as due
by the State, amounts to $372,442.
+ Sixteen months' operations, from the opening of the first section of road. I Including the
cost of the Philadelphia and Columbia Railroad, etc., ($6,000,000,) but not of the Canals. $ In-
cluding tolls, rents, taxes, etc. I: Interest was paid on instalments of capital to 1st Nov., 1855.
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PENNSYLVANIA-PENNSYLVANIA COAL COMPANY.
475
LENGTH OF ROAD-Port Griffith to Hawley
47 miles.
Second track, 47 miles. Sidings, turnouts, etc., 43 miles.
ROLLING STOCK-Passenger cars, None ; freight cars, 36 ; coal cars, 1850
1886
BOATS, ETC-Steamboats, 2; barges, 10 coal boats, 450
463
The Pennsylvania Coal Company is a consolidation of the Washington Coal
Company, chartered on the 16th April, 1838, with authority to construct
a railroad from the Delaware and Hudson Canal to the Wyoming coal
mines, and the Pennsylvania Coal Company chartered on the 16th April,
1838, with authority to construct an extension to the North Branch Canal
and the Susquehanna River. The act for the union of the two companies
was passed on the 12th April, 1849, and the consolidation consummated
on the 16th May, 1849, the Pennsylvania Coal Company assuming a contract
made between the Wyoming Coal Association and the Delaware and Hud-
son Canal Company, (dated 31st August, 1847), for the perpetual use of one
half of the coal capacity of the canal, paying tolls therefor based upon the
price of coal each year at the terminus of the Canal on the Hudson River.
Construction was commenced in November, 1847, and the road completed
and brought into use in June, 1850. The road of this Company consists
of two tracks, diverging in some parts nearly a mile from each other, the
one track for the conveyance of coal, and the other for the return of the
empty cars. Each track is a series of inclined planes-the trains being drawn
up the steep and short ones by stationary engines, and running down the
long ones by their own gravity.
SHARE CAPITAL-Authorized and paid in, $3,200,000, in 64,000 $50 shares.
FUNDED DEBT-$600,000 : described as follows—
1st Mortgage 7 per cent. bonds
$600,000
-dated 7th August, 1851, and payable, principal 7th August, 1861, and
interest semi-annually, 1st February and 1st August, at the Bauk of North
America, in New York.
FLOATING Девт—$361,758: composed of bonds and mortgages payable,
$163,224, and bills and accounts payable, 1st May, 1859, $198,534.
COST OF ROAD AND EQUIPMENT-$1,998,919. No detail.
INCOME ACCOUNT FOR THE YEAR ENDING 30TH APRIL, 1859.
Receipts-
Disbursements-
Sales of coal
$1,999,510
Coal on hand and cost of mining, 1st
Transportation over road, profits on
May, 1858
$580,937
barges, etc
41,148
Railroad expenses
330,168
Canal freight
616,368
Total receipts, 1858-59
2,040,658
Tolls paid Del. and Hudson Canal Co.
264,056
Coal on hand 1st May, 1858
288,749
Port Ewen expenses
34,545
State tax
9,600
Interest on bonds
42,000
Salaries, etc., New York office
27,598
Coal-yard and harbor expenses, rents,
depreciation of tools, etc
155,389
Dividend, August, 1858
$96,000
C
February, 1859
112,000 - 208,000
Undivided revenue
60,746
Total
$2,329,407
Total
$2,329,407
Digitized by
Google
476
PENNSYLVANIA-PHILADELPHIA AND BALTIMORE CENTRAL.
GENERAL LEDGER BALANCE SHEET 1ST May, 1859.
Dr.
Cr.
Railroad and equipment
$1,998,819
Share Capital
$3,200,000
Real estate, docks, etc
1,281,102
Funded debt
600,000
Canal boats
291,137
Bonds and mortgages payable
163,224
Barges and steamboats
36,000
Bills and accounts
"
198,534
Opening mines
250,000
Balance 1st May, 1858
$382,590
Disbursements on account of 1859, etc.
214,287
Surplus income, 1859
268,746
Balance in hands of agents
5,960
"
due from Del. & Hudson Canal
$651,336
Co. on business of 1850 and 1851, not
Less dividends
208,000
including interest, sundry claims, etc
25,608
Cash on hand 1st May, 1859
81,209
Balance 1st May, 1859
433,336
Bills and accounts receivable
123,722
Coal on hand, tools, etc
297,250
Total
$4,605,094
Total
$4,605,094
ABSTRACT OF BALANCE SHEET, YEARLY.
Liabilities
Property and Assets
Years.
Share
Funded
Floating
Railroad &
R'l Estate, Boats, Brgs, Opening
Balance
Capital.
Debt.
Debt.
Equipment.
Docks, etc. & Steamb'ts Mines.
Total.
1850-51
$1,852,780
$600,000
$217,093
$1,604,837
$376,806
$329,704
$89,674
$3,165,224
1851-52.
2,389,480
600,000
602,181
1,806,028
850,863
481,776
126,588
3,818,066
1852-53.
3,000,000
600,000
223,838
1,923,288
935,026
521,571
162,588
4,126,761
1853-54.
3,145,500
600,000
308,802
1,969,207
1,081,771
518,617
222,510
4,390,561
1854-55.
3,145,500
600,000
390,449
1,985,167
1,134,861
525,153
274,299
4,463,011
1855-56.
3,200,000
600,000
443,791
1,992,902
1,124,805
485,293
291,503
4.565,140
1856-57.
3,200,000
600,000
588,824
1,994,819
1,220,213
444,195
311,446
4,688,722
1857-58.
3,200,000
600,000
354,516
1,996,819
1,240,507
437,500
290,000
4,537,106
1858-59.
3,200,000
600,000
361,758
1,998,819
1,281,102
327,137
250,000
4,605,094
9 years
26,333,260
5,400,000
3,491,252
17,271,886
9,245,954
4,070,946
2,018,608
38,359,685
Average. 2,925,918
600,000
387,917
1,919,098
1,027,328
452,327
224,288
4,262,187
STATEMENT OF BUSINESS, YEARLY.
Coal sent
Gross Income
Expenses
Income
-Dividend-
Year.
to market.
Sales of
Sundry Coal on hand Total
of all
less
Am't Rate
Tons.
Coal.
Profits.
to next year.
Income.
kinds, etc.
Expenses.
$
p.c.
1850-51
$111,014
$401,971
$11,524
31,275
$414,751
$383,338
$31,413
nil.
nil.
1851-52
316,017
971,158
53,233
95,148
1,119,539
947,667
171,872
"
"
1852-53
426,164
1,405,444
58,526
207,667
1,671,637
1,311,010
360,627
149,730
5
1853-54
512,659
2,138,005
52,941
84,939
2,275,885
1,878,549
397,336
300,000
10
1854-55
496,648
2,397,489
43,567
103,304
2,544,360
2,157,008
387,352
314,550
10
1855-56
496,504
2,414,130
89,288
134,577
2,687,995
2,303,631
384,364
320,000
10
1856-57
612,500
2,466,018
58,725
201,683
2,726,426
2,363,510
362,916
320,000
10
1857-58.
543,873
2,202,249
37,259
141,471
2,380,979
2,136,522
244,457
96,000
3
1858-59
630,056.
1,999,509
41,149
288,749
2,329,407
2,018,661
310,746
208,000
61
9 years
4,145,435
16,445,963
446,213
1,258,803
18,150,979
15,299,896
2,851,083
1,708,280
Average
460,604
1,827,329
49,579
139,867
2,016,775
1,699,988
316,787
189,809
6
PHILADELPHIA AND BALTIMORE CENTRAL RAILROAD.
(Financial year ending 31st December, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1860.
Daniel Stone,
Samuel Martin,
Samuel Dickey,
Caleb Brinton, Jr.
Job H. Jackson,
Daniel Stubbs, M.D.
David Woelpper,
James A. Strawbridge,
George P. Cook,
James R. Ramsey,
John M. Dickey,
Gerard Gover.
JOSIAH PHILLIPS, President.
Philadelphia, Pa.
WILLIAM MCCULLOUGH, Treasurer
"
"
ROBERT HODGSON, Chief Engineer and Secretary
"
"
PRINCIPAL OFFICE
PHILADELPHIA, Philadelphia Co., Pa.
Digitized by
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PENNSLYVANIA-PHILADELPIIA AND BALTIMORE CENTRAL.
477
LENGTH OF ROUTE-Westchester Junction to Baltimore
78 miles.
Second track, including sidings, etc., about 2 miles.
The Philadelphia and Baltimore Central Railroad Company is a consolidation
of the Baltimore and Philadelphia Railroad Company chartered by the
Legislature of Maryland in May, 1852, and organized on the 8th October,
1853, and the Philadelphia and Baltimore Central Railroad Company, char-
tered by the Legislature of Pennsylvania during the session of 1853, and
organized on the 15th November, 1853. The two companies, legislative
authority therefor having been obtained, consolidated under the name and
title of the Philadelphia and Baltimore Central Railroad Company, on the
25th June, 1854, with a capital of $2,000,000, and the privilege of increasing
it to $4,000,000. The work of construction was commenced on the 3d
January, 1855, at Concord, Delaware co., and in June, 1856, in Cecil co., Md.
The first division of the road was completed from the intersection with the
Westchester and Philadelphia Railroad, for a distance of 6 miles, on the 14th
May, 1859, and to Avondale, 184 miles, on the 16th February, 1860. The
second division of the road extends from Avondale to Oxford, 111 miles; the
third from Oxford to Waring's Meeting House, 104 miles; the fourth, thence
to the Susquehanna, 44 miles; the fifth includes the Susquehanna Bridge
and approaches three-quarters of a mile, and the sixth extends thence to the
intersection with the Northern Central Railroad, 31 miles-the total length
of the route being 78 miles, of which 361 miles are in Maryland and 411 in
Pennsylvania. The estimated cost of the whole line is about $2,500,000.
SHARE CAPITAL-Authorized, $2,000,000, in 20,000 $100 shares.
Paid in,
-
$178,899.
FUNDED DEBT-$202,100 described as follows—
1st Mortgage, 7 per cent., coupon bonds
$202,100
-dated 15th February, 1859, and payable, principal in 20 years, and coupons
semi-annually, 1st January and 1st July, in Philadelphia. The amount of
bonds provided for under the mortgage is $800,000, which are a lien on the
Pennsylvania portion of the road.
FLOATING DEBT-$83,853 : temporary loans, bills payable, etc.
COST OF ROAD AND Equipment-$474,696 : in detail as follows—
Construction account
$368,197
Salaries and agencies
$18,317
Land, land damages and fences
18,273
Locomotives and cars
9,205
Engineering
21,344
Miscellaneous expenses
38,860
INCOME. ACCOUNT FOR THE YEAR ENDING 30TH DECEMBER, 1859.
Receipts
Disbursemento-
Passenger earnings
$2,139
Motive power
$1,392
Freight
"
1,604
Operating expenses
692
Incidental
45
Loss and damage
20
Surplus earnings
1,684
Total
$3,788
Total
$3,798
GENERAL LEDGER BALANCE SHEET, 1ST JANUARY, 1860.
Dr.
Cr.
Construction, etc
$474,696
Share Capital
$178,899
Eight per cent. bonds Westchester and
Bonds
210,631
Philadelphia Railroad Co
2,400
Floating debt
83,853
Miscellaneous items
1,269
Earnings, 1859
3,744
Cash on hand
535
Incidental receipts
2,773
Total
$478,900
Total
$478,900
Digitized by
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PHILADELPHIA CITY PASSENGER RAILROADS.
478
BOARDS OF DIRECTORS AND OFFICERS FOR THE YEAR 1860.-HENRY CROSKEY, Secretary of the Board of Presidents.
COMPANIES.
LINES.
PRESIDENTS
TREASURERS.
SUPERINT' DENTS.
DIRECTORS.
Citizens'
10th & 11th Street Line.
Geo. Williams
Wm. Bonsall
Jacob Peters
B. Davis, C. Colket, J. P. Verree, J. M. Melloy & J. MCarthy.
Delaware County
E.S. Miller
T. T. Butcher
Joseph Powell
J. Sellers, J. Miller, J. Powell, J. P. Affick, A. C. Eckfoldt,
J. R. Eckfeldt, D. R. Smith, J. B. Smith, T. T. Butcher, B.
F. Warren, A. L. Bonnaffon, W. C. Houston.
Frankford and Southwark 5th & 6th St. Line.
James West
E. Hart
Wm. Leaf
S. M. Waln, E. S. Handy, N. Hillis, R. Garsed, P. L. Luders,
M. Thomas, B. Rowland, E. Turley, J. Keene, J. Harrison,
J. H. Towne, H. C. Harrison.
[A. Rowland.
Fairmount
Race & Vine Street Line.
M. Thomas
H. Quicksall
S. Deming
N. F. Champion, W. W. Harding, H. Quicksall, Wm. Anspach.
Fairmount and Arch Street. Arch Street Line.
N. F. Campion
Joseph Brower.
N. F. Campion
M. Thomas, Wm. W. Harding, J. A. Warner, H. Quicksall, A.
G. Rowland.
Girard College
Arch, 9th & Ridge Ave. Line.
Henry Croskey.
E. B. Edwards
J. F. Nicholas
C. T. Jones, J Lambert, R. F. Taylor, S. E. Malone, J. Fisher.
Germantown, Fourth and Eighth Street
Wm. Millward.
W. H. Singerly
J. M. Cowell, G. W. Hamersly, W. W. Juvenal, O. Evans, J
S. Jackson, L. Stout, A. Warthman, J. N. Brown.
Green & Coates Street
W. C. Bridges
H. Connelly
G. W. Fitzwater.
J. Cooper, H. Connelly, A. M'Bride, H. W. Andrews, L John-
son, J. Magee, J. Ely, M. C. Mercur, S. T. Magargee, W.
H. Sowers, H. R. Coggshall, J. Brock.
Duffield.
Heston, Mantua & Fairmount
A. S. Ashmead.
A. D. Boilcau
A. S. Ashmead
H. K. Harrison, J. Hunter, D. B. Paul, A. D. Boileau, W. H.
North Philadelphia
Germantown Line.
N. Smedley
J. Bonsall
J. Fallon, E. Peters, J. Dyer, T. Littlefield, G. C. Barbor.
Phila. & Gray's Ferry Spruce & Pine St. Line.
W. D. Lewis
John Miller
J. Magee, Wm. V. M'Grath, J. P. M'Fadden, J. N. Hutchin-
son, H. L. Gaw, Wm. K. Barelay, J. Eisenbrey, Jr., J. C.
Hand, G. W. M' Mahan, C. Lafferty, J. l'Cahen.
Phila. City
Chestnut & Walnut St. Line.
Charles Harlan.
E. B. Edwards
Hiram Castor
L. Johnson, Z. C. Howell, R. K. Neff, C. Camblos, C. Wister,
G. T. Weaver.
Philadelphia & Darby
Thos. S. Ellis
Thos. Sparks
Geo. S. Leech
T. Sparks, G. M'Henry, A. M. Eastwick, J. B. Conover, P. Ser-
PENNSYLVANIA-PHILADELPHIA CITY PASSENGER
rill, D. H. Flickwir, M. Baird, I. Leech, jr., J. Dick, W.
Whillden, S. Thomas, R. Buist.
[geant.
Ridge Avenue & Manyunk
C. T. Jones
Alfred L. Clay
Wm. Kirk
H. Croskey, J. Lambert, M. M. Riter, S. K. Ashton, J. D. Ser.
Digitized by
Richmond & Schuylkill Girard Avenue Line.
J. R. Flanigan
C. S. Wayne
Edwin Irwin
J. S. Pringle, Wm. Eckfeldt, J. D. Keyser, C.S. Wayne, G.
F. Keyser, E. Irwin.
Second & Third Street
R. F. Taylor
Rob't Kelton
J. Gillingham
R. Kelton, J. Peterson, P. Rambo, W. Elliott, J. Eisenbrey,
jr., C. W. Carrigan, M. S. Bulkley, J. Hern, J. Binder, H.
R. Coggshall, J. A. Warner, R. K. Neff.
Seventeenth & Nineteenth Street
A.G. Rowland
Wm. P. Cooper
Google
Jos. Campion
N. F. Campion, M. Thomas, J. Campion, J. Brower, H. Yerkes.
Thirteenth & Fifteenth Street
A. C. Harmar
N. F. Campion
Henry Hainos
M. Thomas, N. F. Campion, H. N. Fitzgerald, M. M'Michael,
H. Haines.
West Philadelphia,
Market Street Line.
Wm. Wright
S. W. Cattell
D. Rhoads
J. F. Gross, H. J. Limbaert, W. Martin, D. Stone, J. C. Davis,
J. H. M' Fotrick, W. Keichline, W. Harris.
PENNSYLVANIA-PHILADELPHIA CITY PASSENGER.
479
CITY PASSENGER RAILROADS-ROUTES OF THE SEVERAL LINES.
CITIZENS'-Columbia Avenue to Read Street, on Tenth and Eleventh Streets.
DELAWARE COUNTY-West Philadelphia to Spread Eagle Tavern: commencing at the corner of
Market and Logan Streets, West Philadelphia, and extending to the terminus of the West-
chester Railroad.
FAIRMOUNT-Exchange, up Third Street to Race Street and Callowhill, thence by Twenty-third
Vine, and Second and Walnut Streets to the Exchange.
FAIRMOUNT AND Arch STREET-Second, corner Arch Street, to Twenty-first Street.
FRANKFORD AND Southwark-Through Berks, Sixth, Dickinson and Fifth Streets, with a branch
to Frankford.
GIRARD COLLEGE-Along Second and Arch Streets, up Ridge Avenue to Columbia Avenue.
GERMANTOWN, FOURTH AND EIGHTH STREETS-Germantown Turnpike to Mount Airy.
GREEN AND COATES STREET-(1) Fairmount and Green Streets to Delaware River, returning by
Oak and Coates; (2) Green, Dickinson, Eighth and Contes Street; (3) Green, Fourth, Walnut
and Eighth Streets; (4) Green, Fourth, Walnut, Eighth and Coates.
HESTON, MANTUA AND FAIRMOUNT-Hestonville, via Lancaster Avenue and Ridge Street to
Fairmount, with branch to Market Street.
NORTH PHILADELPHIA-Columbia Avenue, Broad Street, Tioga, Plankroad, Manheim, to German-
town.
PHILADELPHIA CiTY-Front, via Walnut to Twenty-second Street, returning by Chestnut Street
PHILADELPHIA AND DARBY-Market Street and Darby to Darby.
PHILADELPHIA AND GRAY'S FERRY-Third and Walnut, Second, Pine, Twenty-first and South
Twenty-third to Gray's Ferry; returning by Spruce, Third and Walnut.
RICHMOND AND SCHUYLKILL-Frankford Road, on Girard Avenue to west side of the Schuylkill
River.
RIDGE AVENUE AND MANAYUNK-Ridge Road to Manayunk.
SECOND AND THIRD STREETS-Third and Mifflin Streets, Oxford, Front, Amber and Frankford
Road; Jefferson and Second to Mifflin, etc., etc.
SEVENTEENTH AND NINETEENTH STREETS-Master to Federal Street. on Seventeenth and Nine-
teenth Streets.
THIRTEENTH AND FIFTEENTH STREETS-Columbia Avenue to Carpenter Street, by Thirteenth
and Fifteenth Streets.
WEST PHILADELPHIA-Corner Third and Market to Depot in Twenty-fourth Ward.
SHARES, BONDS, MILEAGE, ETC. 30TH JUNE, 1860.
(Furnished by the Messrs. Withers & Peterson, Bankers, Philadelphia, Pa.)
Corporate Titles of
Date of
Road
Sh. Capital.
Bonds.
Cost of
Mile-
Companies.
Charter.
Completed.
Auth'd. Paid in.
Created.
Issued.
Road.
age.
Citizens'
Mch. 25, '58
July 29, '58
500,000
200,000
200,000
8.50
Delaware County
Mch. 29, '59
150,000
27,500
27,500
3.00
Frankf'd&-Southreark
Jan. 20,'58
500,000
500,000
200,000
180,000
551,000
16.50
Fairmount
Apr. 13,'58
Sept. 8,'58
500,000
180,000
140,000
5.00
Fairmount & Arch St
Apr. 16,'58
June 23,'59
500,000
200,000
180,000
5.00
Germant'. 4th &8th Sts
Apr. 15,'58
Mch. 15,'59
500,000
50,000
250,000
250,000
300,000
17.25
Girard College.
Apr. 21,'58
July 19,'59
500,000
150,000
160,000
5.50
Green & Coates Street
Apr. 21,'58
May 30,'59
500,000
150,000
100,000
60,000
220.000
5.25
Heston, Mant'a Fairm
Apr. 6,'59
Oct. -,'59
300,000
60,000
100,000
40,000
100,000
7.00
North Philadelphia.
Apr. 10,'59
Nov. 1,'59
240,000
182,500
100,000
100,000
300,000
5.50
Phila. & Gray's Ferry
Apr. 9,'58
Sept.-,'58
500,000
160,000
250,000
16,000
176,000
7.00
Philadelphia City
Mch. 26,'59
Nov.
500,000
100,000
100,000
100,000
4.00
Philadelphia & Darby
Apr. 28,'59
Dec. 24,'58
100,000
100,000
100,000
20,300
117,200
425
Richmond & Schuylkill
Apr. 28,'59
July
100,000
30,000
100,000
15,000
50,000
5.25
Ridge Av & Manay' nk
Mch.26,'59
Nov.
250,000
125,000
60,000
60,000
185,000
9.00
2d & 3d Streets
~
125,000
125,000
Apr. 10,'59
500,000
200,000
125,000
35,000
an
401,085
18.75
17th & 19th Streets
Apr. 12,'59
Nov.
500,000
120,000
120,000
6.00
13th & 15th Streets
Apr. 12,
Dec.
500,000
100,000
90,000
6.00
West Philadelphia
Apr. 8,'58
Apr.
500,000
182,500
100,000
80,000
255,000
9.25
Digitized by Google
480
PENNSYLVANIA-PHILA., GERMANTOWN AND NORRISTOWN.
PHILADELPHIA, GERMANTOWN AND NORRISTOWN RR.
(Financial year ending 30th September, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
Joseph Perot,
Joseph Swift,
J. J. Woodward,
George H. Thompson,
William Harmar,
G. W. Carpenter,
William Musser,
Charles Ellis,
C. Colket,
William H. Slingluff,
A. E. Dougherty,
Samuel Jeanes.
EDWARD C. DALE, President
Philadelphia, Pa.
W. S. WILSON, Treasurer and Secretary
"
"
H. K. SMITH, General Superintendent
"
"
PRINCIPAL OFFICE
PHILADELPHIA, Philadelphia Co., Pa.
LENGTH OF RoAD-Main Line-Philadelphia to Norristown
17.06 miles.
Branch Line-Junction to Germantown
3.14 "
Total length of road owned by Company
20.20 miles.
Second track, 20.20 miles. Sidings, etc., 3.16 miles.
Leased-Chestnut Hill Railroad, Germantown to Chestnut Hill
4.16 "
Total length of road operated by Company
24.36 miles.
ROLLING STOCK-Locomotive engines
17
Cars:-Passenger, 42; freight, etc., 150
192
The Philadelphia, Germantown and Norristown Railroad Company was char-
tered on the 17th February, 1831, and authorized to construct a railroad
from Philadelphia to Norristown and a branch to Germantown. Construc-
tion was commenced the same year, and the road completed and opened to
Germantown on the 6th June, 1832; to Manyunk on the 18th October, 1834,
and to Norristown on the 15th August, 1835. The Company soon fell into
embarrassment which resulted in placing the road in the hands of the bond-
holders. In 1847 a compromise was effected between the various interests,
whereby the claims against the Company were reduced from $838,000 to
$288,000, leaving the cost of the road as represented by its debts and stock
to the amount of $1,088,000.
The Chestnut Hill Railroad is operated under a contract dated the 17th
March, 1852, whereby the lessee pays to the owners one-half of the gross
earnings of the traffic between Philadelphia and Chestnut Hill until such
earnings shall amount to $17,000 a year, and one-fourth the gross earnings
exceeding that sum.
SHARE CAPITAL-Authorized, $1,250,000, in 25,000 $50 shares.
Paid in, - - $1,223,500, in 24,470
"
FUNDED DEBT-$374,800 : classified as follows—
Consolidated Loan, 6 per cent., bonds
$274,800
-dated 1848, and payable, principal in 1865, and interest semi-annually, 1st
January and 1st July, at Philadelphia.
New Loan. 6 per cent., bonds
$100,000
-dated 1st June, 1852, and payable, principal 1st June, 1863, and interest
semi-annually, 1st June and 1st December, at Philadelphia.
COST OF ROAD AND EQUIPMENT-$1,672,387 : as follows—
Railroad
$1,130,622
Locomotives
$126,539
Real estate
305,199
Passenger and freight cars
110,016
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PENNSYLVANIA-PHILA, GERMANTOWN AND NORRISTOWN.
481
INCOME ACCOUNT FOR THE YEAR ENDING 30ΓH SEPTEMBER, 1859.
Receipts-
Disbursemento-
Passenger earnings
$192,723
Repairs P.G. & N. RR
$16,479
Merchandize freight earnings
62,715
"
Chester Valley Railroad, etc
5,354
Coal
"
"
11,995
"
Chestnut Hill
"
6,537
Rents, station houses, etc
3,490
"
Rolling stock
7,512
Sale of old material
478
Salaries
8,861
Running Chester Valley Railroad
4,820
General Charges
78,737
"
Chestnut Hill
"
12,436
Sundry receipts
1,663
$123,400
Interest on Sinking Fund Account
628
Sale of 300 shares of stock
15,000
Dividends
121,427
Chester Valley Railroad Company
4,919
Interest on loans.
21,744
Chestnut Hill Railroad Company
10,955
Ground rents, insurance, taxes, etc
14,257
Cash balance 1st October, 1858
64,584
Damages
2,722
Investment for Sinking Fund
2,887
Stock account
424
Construction and equipment
16,556
Bills payable
6,000
Chester Valley Railroad Company
5,228
Chestnut Hill Railroad Company
12,026
Cash
59,654
Total
$386,407
Total
$386,407
GENERAL LEDGER BALANCE SHEET, 1ST OCTOBER, 1859.
Dr.
Cr.
Railroad
$1,130,622
Share capital
$1,223,500
Real Estate
305,201
Consolidated loan
274,800
Locomotives
126,539
Loan of 1852
100,000
Passenger cars
66,203
Appropriations to Sinking Fund
34,081
Burden cars
43,813
Dividends
61,417
Sinking Fund
29,150
Interest on lonns
453
Cash balance
59,654
Contingent Dividend Fund
59,707
State tax on dividends
6,097
Chestnut Hill Railroad Company
1,127
Total
$1,761,182
Total
$1,761,182
COST, EARNINGS, EXPENSES, ETc., YEARLY.
Cost of
Mile-
Gross Earnings
Operating Earnings,
Div
Year.
Road, etc.
age.
Pass'gers.
Freight.
Misc'l.
Total.
Expenses.
less exp.
p c.
1844
$760,570
2020
$43,691
$6,402
$50,093
$40,040
$10,053
1845
786,570
20.20
50,175
7,295
57,170
63,100
1846
812,530
20.20
63,686
14,856
520
79,062
75,692
3,370
1847
837,230
20.20
69,692
22,108
867
92,677
71,737
20,940
1848
861,230
20.20
77,986
26,384
516
104,886
72,912
31,974
1849
900,230
20.20
77,958
28,678
1,038
107,674
85,749
21,925
1850
954,635
20.20
84,864
35,651
996
121,711
101,806
19,709
1851
992,728
20.20
95,673
41,703
2,583
139,959
76,250
63,110
14,096
2
1852
1,067,422
20.20
95,003
40,944
2,569
138,516
113,328
25,188
37,032
5
1853
1,150,939
20.20
114,616
54,095
6,760
175,471
147,776
27,695
51,999
6
1854
1,241,600
20.20
143,523
74,024
27,019
244,566
133,908
110 658
70,971
6
1855
1,274,150
20.20
147,761
77,571
33,757
259,089
136,732
122,357
71,041
S
1856
1,328,242
20.20
170,143
84,348
32,771
287,262
134,729
152,533
90,663
10
1857
1,543.620
20.20
188,186
90,071
34,701
312,958
137,138
175,820
120,997
10
1858
1,611,930
20.20
173,720
72,467
33,402
279,589
133,230
146,359
128,053
10
1859
1,674,378
20.20
192,723
74,709
21,225
288,657
134,185
154,472
121,428
10
16 Yrs.
17,796,054
323.20
1,789,400
751,506
198,734
2,739,640
1,657,512
1,082,158
706,280
Aver.-
1,112,253
20.20
111,837
46,969
12,421
171,227
103,594
73,883
67,633
41
NOTE.-The cost and earnings of the road cannot be given prior to 1844. Since that time the
cost of the road has been for the most part estimated; the Report of the Company not giving the
same.
The earnings of the leased roads are included in " Miscellaneous Expenses," and " Operating
Expenses."
61
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Google
482
PENNSYLVANIA-PHILADELPHIA AND READING.
PHILADELPHIA AND READING RAILROAD.
(Financial year ending 30th September, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
Samuel Norris
Philadelphia, Pa.
David S. Brown
Philadelphia, Pa
George W. Richards
"
"
J. Dutton Steele
"
John Ashhurst
"
"
M. S. Richards
Reading "
R. D. CULLEN, President
Philadelphia, Pa.
SAMUEL BRADFORD, Treasurer
"
"
G. A. NICOLLS, Superintendent and Chief Engineer
Reading.
"
PRINCIPAL OFFICE
PHILADELPHIA, Philadelphia Co., Pa
LENGTH OF RoAD-Main Line, Philadelphia (Richmond) to Mt. Carbon.. 95 miles
Second track, 93 miles. Sidings, turnouts, etc., 534 miles.
Lebanon Valley Line, Reading to Harrisburg
54 "
City Branch, and Willow street Railroad
5 "
Second track on branches, 7 miles. Sidings, turnouts, etc., 241 miles.
Total length of main track and branches.
152 miles.
Leased-Chester Valley Railroad, Norristown to Downingtown
21
"
Total length of line operated by Company
173 miles
ROLLING STocK-Locomotives (1st class, 124; 2d cl., 13 3d cl., 4, and 4th cl. 3).144
Cars (8-wheel) :-Passenger, 45; baggage, 12; mail and express, 7
64
" (8-wheel) :-Freight, viz., covered house,, 152; box, 53 platform, 157. 362
" (4-wheel) :-Freight, viz., covered house, 182; platform, box, etc.,454. 636
" (8-wheel) :-Coal, viz., iron, 2; wooden, 471
473
" (4-wheel) :-Coal, viz, iron, 2948 wooden, 1276
4224
The Company also own-2 small passenger cars for use of road 12 stationary
engines for driving machinery 14 pumping engines; 8 snow ploughs 1 dredging
machine; 27 carts, drays, wagons, and lumber trucks 68 horses for bauling in city,
etc. It has also in use 100 wooden 8-wheel and 610 wooden 4-wheel coal cars owned
by other parties.
The Philadelphia and Reading Railroad Company was chartered on the 4th
April, 1833, with authority to construct a railroad from the city of Philadel-
phia to the borough of Reading. At that time it was expected that the line
would be continued to the coal fields by other companies, but as they were
unable to do so, the right to construct the road to Pottsville was granted to
the Philadelphia and Reading Company, and the time for its completion was
extended to March 20th, 1842. Construction was commenced in 1836, and
that part of the line between Reading and Norristown, was opened on the
16th July, 1838. On the 5th December, 1839, the section between Phila-
delphia and Norristown was completed. The whole amount expended up to
that date was $4,540,971. On the 13th Jan., 1842, the entire line to Mount
Carbon was opened for the transportation of passengers and freight. On
the 20th May, 1842, the Richmond line, for the accommodation of the coal
trade. was opened. In 1851 the Company purchased of the State the rail-
road extending from the corner of Pine and Broad streets to a junction
with the road on the west side of the Schuylkill. In 1858 the Lebanon
Valley Ruilroad was purchased. This road was the first great work of the
kind opened, and still enjoys the pre-eminence of being the most important
work engaged in the coal trade of the country.
SHARE CAPITAL-Unlimited. Par value of shares $50.
Paid in, $11,548,929, viz., common, $9,997,129, and preferred, $1,551 800.
Digitized by Google
PENNSYLVANIA-PHILADELPHIA AND READING.
483
The Preferred Stock was created in 1848 for the purpose of paying off the
bonds due in 1850 and 1856. It is entitled to dividend at the rate of 7
per cent. annually, and shares with the common stock in any excess above that
rate. Of these bonds, amounting to $3,703,000, $1,648,000 were converted.
FUNDED Девт-$12,093,950: described as follows—
1st Mortgage, 5 per cent., coupon bonds
$705,600
-dated 1st July, 1836, and payable, principal 1st July, 1860, and coupons
semi-annually, 1st Jan. and 1st July, at Philadelphia.
1st Mortgage, 6 per cent., coupon bonds
$1,572,800
-dated 1st July, 1843, and payable, principal 1st July, 1860, and coupons
semi-annually, 1st January and 1st July, at Philadelphia.
1st Mortgage, 6 per cent., coupon bonds, convertible.
$886,000
-dated 1st July, 1844, and payable, principal 1st July, 1860, and coupons
semi-annually, 1st January and 1st July, at Philadelphia.
1st Mortgage, 6 per cent., coupon bonds, convertible
$134,000
-dated 1st July, 1848, and payable, principal 1st July, 1860, and coupons
semi-annually, 1st January and 1st July, at Philadelphia.
1st Mortgage, 6 per cent., coupon bonds, convertible
$85,000
-dated 1st July, 1849, and payable, principal 1st July, 1860, and coupons
semi-annually, 1st January and 1st July, at Philadelphia.
2d Mortgage, 6 per cent., coupon bonds
$3,103,600
-dated 1st April, 1849, and payable, principal 1st April, 1870, and coupons
semi-annually, 1st April and 1st October, at Philadelphia.
3d Mortgage, 6 per cent., coupon bonds, convertible
$3,586,500
-dated 1857, and payable, principal in 1886, and coupons 1st January and
1st July, at Philadelphia. The whole amount provided was $7,000,000.
1st Mortgage (Leb. Val. RR.), 7 per cent., coupon bonds, convertible
$1,500,000
-dated 1st January, 1856, and payable, principal in 20 years, and coupons
semi-annually, 1st January and July, at Philadelphia.
Real Estate Bonds and Mortgages (various)
$520,450
The Company propose to extend payment of the bonds falling due in
1860, amounting to $3,308,400, for a period of 20 years, paying 10 per cent.
in cash as an inducement to such extension, and issuing new sheets of coupons.
SINKING FUNDs.-The Company has established three Sinking Funds, to
which the payment of $150,000 annually is required to be made, viz. : $25,000
to the loan of 1836-60; $75,000 to the loan of 1849-70, and $50,000 to the
loan of 1856-86. At the date of the last report there was due from the
Company to the fund, $334,589. Bonds purchased by the fund are cancelled.
INCOME ACCOUNT FOR THE YEAR ENDING 30TH NOVEMBER, 1859.
Receipts-
Disbursemento-
Passenger earnings
$318,846
Working expenses
$418,016
Merchandise
"
474,888
Workshop "
301,252
Coal
"
1,883,685
Depot
"
59,415
U.S. mail
"
19,618
Superintendence
120,539
Miscellaneous receipts
27,256
Roadway department
233,578
Drawbacks and allowances
143,381
Interest on bonds
735,321
Renewal fund,
202,297
Sinking Funds
150,000
State tax on capital
16,828
Dividend on Preferred Stock, 7 per ct.
108,626
Int. on reserved div. on Pref. Stock
12,104
Balance of earnings to Reserve Fund.
222,936
Total
$2,724,293
Total
$2,724,293
Digitized by
Google
484
PENNSYLVANIA -PHILADELPHIA AND READING.
COST OF ROAD AND EQUIPMENT-$24,043,530: in detail as follows—
To Nov, '58.
Added in '59.
30th Nov., '59.
Railroad (Main Line)
$14,449,398
$
$14,449,398
Depots
409,110
30,564
439,674
Locomotives and cars
3,123,491
50,681
3,174,172
Real estate
1,293,405
75,446
1,368,851
Telegraph stock
20,530
20,530
Lebanon Valley Branch
4,415,976
74,779
4,490,755
Willow Steet Railroad
100,000
100,000
GENERAL LEDGER BALANCE SHEET, 1ST DECEMBER, 1859.
Dr.
Cr.
Railroad
$14,449,398
Share capital, common
$9,997,129
Depots
439,674
"
"
preferred
1,551,800
Locomotive engines and cars
74,123
Bonds, 5 p. c., unconvertible, due '60
705,600
Real estate
1,368,851
" 6 "
"
" '60
1,572,800
Telegraph stock
20,530
" 6 "
convertible,
" '60
886,000
Lebanon Valley Branch
4,490,755
" 6 "
"
" '60
134,000
Willow street Railroad
100,000
" 6 "
"
" '60
85,000
Pottsv'e Water and Pottst'n Gas st'k.
27,305
" 6 "
unconvertible,
" '70
3,103,600
Balance of assets over liabilities car-
" 6 "
convertible,
" '86
3,586,500
ried to Construction Account
94,224
" 7 "
"
" '86
1,500,000
Bonds and mortgages, real estate
520,450
Sinking fund stock
294,112
Balance dividend fund, 1858
5,132
"
"
" 1859
222 937
Total
$24,165,060
Total
$24,165,060
STATEMENT OF ASSETS AND LIABILITIES, 1ST DECEMBER., 1859.
Assets-
Liabilities-
Cash and cash items
$206,487
Bills payable and debts due
$211,037
Stock and bonds held by Company
258,363
Coupons due January, 1860
304,623
Materials on hand for working road
387,681
Interest on real estate bonds
10,715
Debts due on current business
42,860
Sinking fund
334,589
"
and partly secured
389,996
Deferred dividends on Preferred Stock
275,910
Balance of renewal fund, etc
11,428
"
to construction acc't, as above
94,224
Total
$1,242,527
Total
$1,242,527
COST, EARNINGS, EXPENSES, ETC., YEARLY.
Cost of
Mile-
Gross Earnings
Operating
Earnings,
-Div-
Yr. Road, &c.
age.
Pass'r.
Freight.
Coal.
Total.
expenses.
less exp.
$
p.c.
'43.87,119,292
95
$71,895
$37,927
$278,840
$394,318
$214,923
$179,395
nil
nil.
'44. 9,398,354
95
92,362
49,293
445.509
597,613
329,442
268,171
"
"
45.10,276,351
95
103,411
60,588
886,939
1,078,031
570,726
507,305
"
"
46.11,531,441
95
141,749
137,583
1,600,667
1,900,115
862,320
1,037,795
312,000 10
'47-12,115,886
95
156,201
136,220
1,698,664
2,002,945
1,100,406
902,539
411,840 12
'48.14,396,458
95
174,958
117,457
1,386,605
1,692,555
1,212,029
480,526
nil.
nil.
'49.16,318,087
95
155,908
106,347
1,648,900
1,933,591
1,023,245
910,346
"
6:
50.16,325,332
95
148,379
125,822
2,071,731
2,363,958
1,169,456
1,194,503
249,590
6
'51.16,649,515
95
152,432
123,672
2,018,871
2,294,975
1,304,291
990,684
nil.
nil.
52.17,141,987
98
168,430
138,964
2,150,677
2,480,626
1,340,797
1.139,829
722,071
14
53.17,905,018
98
225,763
180,612
2,254,694
2,688,287
1,329,511
1,358,776
172,935
3
54.18,464,115
98
272,367
231,626
3,253,823
3,781,639
1,771,201
2,010,438
587,4231 10
55.19,004,180
98
301,952
325,851
3,664,095
4,291,898
1,941.041
2,350.857
1,077,029
12
56.19,163,151
98
288,427
348,699
3,242,458
3,879,584
1,979,019
1,900,565
770,530
8
'57-19,262,720
98
322,612
329,986
2,412,923
3,065,522
1,601,753
1,463,769
385,425
4
58.23,811,910
152
309,142
335,915
1,865,693
2,510,751
1,382,720
1,128,031
nil.
nil.
'59-24,070,835
152
318,846
474,888
1,883,685
2,724,293
1,478,477
1,245,816
"
"
272,954,638
1,747
3,405,833
3,261,449
32,764,774
39,680,701
20,611,356
19,069,345
4,689,713
Av.
16,156,158
1141
200,343
191,849
1,927,339
2,334,159
1,212,432
1,121,727
275,865 4.65
Nore.-The dividends in the above table are those paid on common stock. Of these, 44 per cent.
have been paid in stock, viz., 10 per cent. in 1846, 12 per cent. in 1847, 8 per cent in 1852, 10 per
in 1854, and 4 per cent. in 1855. The Operating Expenses" include the " Renewal Fund," estab-
Fished in 1848, of 3 cents (increased in 1857, to 5 cents) for every hundred tons carried one mile,
The " Miscollaneous" column is omitted, but the amount of the same is embraced in the totals.
Digitized by Google
GROSS RECEIPTS.
TOTAL EXPENSES.
TONNAGE.
Year
ending
Merchan-
Nor. 30.
Coal.
Passengers.
Total
Transportat'n
Roadway
Tons
Tons
Tons
department.
Dump'ge.
Total.
dize.
departm'nt.
Coal.
Mdze.
Materials.
Total.
1843
$278,840
$71,895
$37,927
$394,318
$164,549
$50,374
$214,923
218,711
17,584
54,787
322,125
1844
445,509
92,362
49,293
597,613
244,149
85,293
329,442
421,985
20,472
160,138
659,299
1845
886,939
103,411
60,588
1,060,381
385,492
121,228
$51,095
557,815
814,279
26,039
102,408
1,046,812
1846
1,600,667
141,749
137,584
1,889,714
620,682
142,968
69,360
833,010
1,188,258
74,971
101,471
1,515,473
1847
1,698,664
156,201
136,220
2,002,946
836,077
132,780
75,827
1,044,685
1,360,681
71,718
165,493
1,770,916
1848
1,386,605
174,959
117,458
1,692,556
800,285
143,384
88,194
1,031,863
1,235,044
58,123
118,676
1,570,531
1849
1,648,000
155,908
106,347
1,933,590
666,957
140,990
75.536
883,483
1,097,762
51,204
145,503
1,429,564
1850
2,071,731
148,379
125,822
2,360,786
722,538
154,780
89,743
967,056
1,351,507
63,625
157,450
1,743,680
1851
2,018,871
152,432
123,672
2,294,975
787,484
160,569
98,842
1,046,895
1,650,270
63,807
219,731
2,145,132
1852
2,150,677
168,480
138,964
2,480.626
785,257
202,132
98,351
1,085,740
1,650,912
75,769
181,217
2,122,171
1853
2,254,694
225,763
180,612
2,688,288
782,213
178,480
87,470
1,048,163
1,582,248
107,853
174,161
2,076,197
1854
3,253,823
272,368
231,627
3,781,640
1,117,140
220,210
105,125
1,442,475
1,987,854
140,801
187,591
2,582,563
1855
3,664,095
301.952
325,851
4,291,898
1,093,196
285,643
119,021
1,497,869
2,213,292
154,384
247,478
2,909,667
1856
3,242,458
288,427
348,699
3,879,584
1,117,504
324,168
130,999
1,572,671
2,088,903
198,886
236,700
2,815,760
1857
2,412,923
322,612
329,986
3,065,521
962,576
266,588
12,108
1,241,267
1,709,692
184,617
182,512
2,326,706
1858
1,865,693
309,142
335,915
2,510,750
762,255
223,309
985,564
1,542,646
187,729
170,603
2,126,881
1859
1,883,685
365,720
474,888
2,724,293
794,011
233,578
27,261
1,054,849
1,632.932
334,609
196,104
2,405,314
Totals
32,764,774
3,451,710
3,261,453
39,649,479
12,642.459
3,066,474
1,128,927
16,837,860
23,746,976
1,832,223
3,802,023
31,568,791
Cost in mills of transporta-
Mileage and cost of keeping Locomo-
Coal and freight
Yr ending
No. of Pas-
Passenger cars
Nov. 30.
sengers.
tion per mile run.
tive engines.
cars.
Coal per
Mdze.
Pass'ger
Total
Av. of Coal
Cost of re-
Total
Total
Iron used
in repairs.
Tons.
Cost of
same.
Cost of re-
Cost of
Cost in ets
per ton
trinsport'd
Cost in cta.
per mile
Miles run.
run.
Main track
open,miles.
ton.
per ton,
each.
No.
trains tons.
paira.
No.
pairs.
No.
repairs.
1843
56,554
4.84
7.15
4.16
89
393,192
162
$13,224
1,800
$14,319
14
$903
2
95
1844
66,503
4.32
6.95
4.01
47
613,041
194
27,733
2,731
38,663
14
8,108
26
95
1845
63,719
3.89
8.14
4.63
54
810,285
295
29,941
3,444
48,775
14
4,112
56.6
95
and Reading Railroad, from January 1, 1843, to November 30, 1859.
TABLE, showing the principal items of Recenue, Expense, and Working of the Philadelphia
PENNSYLVANIA-PHILADELPHIA AND READING
1846
88,641
4.09
8.15
4.77
72
1,014,10
360
47,282
5,075
77,287
14
5,109
235
95
1847
97,463
4.82
9.28
5.07
77
1,184,272
354
74,916
5,108
119,680
16
6,427
312.2
95
1848
105,720
4.74
10.00
6.09
84
1,136,572
377
92,430
5,086
137,930
22
8,396
666.2
$20,650
1.31
1.82
95
1849
95,577
4.59
8.86
7.15
86
1,047,014
372
80,764
5,086
140,763
22
6,326
521.8
12,536
0.88
1.19
95
1850
92,726
4.28
7.28
7.92
92
1,233,144
372
76,245
5,117
163,780
20
7,880
670.7
12,115
0.69
0.98
95
Digitized by
1851
127,590
4.05
7.44
9.51
89
1,461,772
368
97,750
5,136
153,771
28
8,445
1,045.1
25,855
1.21
1.71
95
1852
155,164
3.71
8.33
9.33
103
1,517,931
366
99,027
5,241
160,436
30
11,638
1,319.8
24,954
1.17
1.64
98
1853
211,819
3.69
8.26
6.76
103
1,466,894
384
119,696
5,476
155,531
38
8,088
1,671.5
35,546
1.71
2.43
98
1854
266,631
4.31
8.78
8.00
121
1,674,400
409
214,134
5,703
242,892
45
14,726
2,121.6
67,176
2.60
4.01
98
1855
277,617
3.53
8.60
9.08
141
1,948,22
423
201,205
5,724
205,923
54
14,389
4,985.9
160,138
5.60
8.22
98
1856
282,300
3.60
7.30
10.80
141
1,942,317
412
233,572
5,719
217,959
58
18,901
5,933.7
204,502
7.26
10:53
98
Google
1857
291,679
3.79
7.27
7.54
142
1,707,366
411
197,833
5,755
174,550
58
13.629
4,794.
154,686
6.64
9.06
98
1858
285,651
2.91
6.75
7.94
142
1,570,482
422
151,493
5,684
120,260
58
12,025
4.440.
128,629
6.49
8.19
152
1859
379,406
2.42
5.11
10.37
144
1,702,257
436
153,937
6,695
122,283
64
16,189
3,332
103,334
4.29
6.08
152
Totals
2,844,766
22,432,269
1,910,532
2,294,802
160,291
950.120
3.64
5.10
485
486
PENNSYLVANIA-PHILADELPHIA AND TRENTON.
PHILADELPHIA AND SUNBURY RAILROAD.
(See Shamokin Valley and Pottsville Railroad.)
PHILADELPHIA AND TRENTON RAILROAD.
(Financial year ending 31st September, 1859.)
OFFICERS OF THE COMPANY, 1859-60.
VINCENT L. BRADFORD, President
Philadelphia, Pa.
JOHN R. THOMSON, Treasurer
Princeton, N.J.
R. S. VAN RENSSELAER, Acting Superintendent
Bordentown, "
PRINCIPAL OFFICE
Philadelphia, Pa.
LENGTH OF ROAD-Morrisville to Philadelphia
28.20 miles.
Second track, none. Sidings, turnouts, etc., 0.63 mile.
The Philadelphia and Trenton Railroad Company was chartered by the Legis-
lature of Pennsylvania in 1832, and was authorized to construct a road from
Philadelphia to the Delaware, opposite Trenton, and to purchase the turn-
pike between Trenton and New Brunswick. The road in Pennsylvania was
completed and opened for traffic in 1834. In 1836 a contract was entered
into with the Camden and Amboy whereby the two companies were to re-
ceive the same rate of dividends. In 1837 the latter purchased the greater
portion of the share capital of the former, and owns its road. The Company
makes no reports, and an application for information as to its affairs was re-
fused. The information given is from the report of the Auditor of the State,
SHARE CAPITAL-Authorized, $1,000,000, in 10,000 $100 shares.
Paid in, - $990,200, on
"
"
FUNDED DEBT-$250,000 : described as follows-
1st Mortgage, 6 per cent., coupon bonds
$250,000
-dated 1st May, 1853, and payable, principal in 15 years, and interest semi-
annually, 1st May and 1st November, at Philadelphia.
FLOATING DEBT-None.
Cost OF ROAD AND APPURTENANCES-$607,666. No detail.
INCOME ACCOUNT FOR THE YEAR ENDING 31sT OCTOBER, 1859.
Receipts--
Disbursements-
Passenger earnings
$261,671
Operating expenses.
$128,917
Freight
"
1,417
Repairs of road
42,643
U.S. Mail
.
2,531
"
of stations, buildings, etc
2,832
Rents
14,488
Engineering
1,500
Miscellaneous
40,980
Salaries and wages
5,474
All other expenses
36,304
Interest on bonds
16,000
Dividend, January and July
79,936
Surplus undivided
8,389
Total
$321,095
Total
$321,095
GENERAL STATEMENT, 1ST OCTOBER, 1859.
Dr.
Cr.
Railroad
$607,666
Share capital
$999,200
Real estate
200,420
Funded Debt
250,000
Other investments
341,114
Total
$1,249,200
Total
$1,249,200
Digitized by Google
PENNSYLVANIA-PHILA, WILMINGTON AND BALTIMORE.
487
PHILADELPHIA, WILMINGTON AND BALTIMORE RR.
(Financial year ending 30th November, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
Moncure Robinson
Philadelphia, Pa.
John C. Groome
Elkton, Md.
Wm. L. Savage
"
"
J. J. Cohen, Jr
Baltimore,
"
Edward Austin
"
"
Thomas Kelso
"
"
Joseph C. Gilpin
Wilmington, Del.
C. O'Donnell
"
"
Jesse Lane
"
"
Enoch Pratt
"
"
John A. Duncan
"
"
Thomas Donaldson
"
"
Frederick A. Curtis
Newark,
"
Wm. W. Corcoran
Washington, D.C.
SAMUEL M. FELTON, President
Philadelphia, Pa.
ALFRED HORNER, Secretary and Treasurer
"
"
PRINCIPAL OFFICE
PHILADELPHIA, Philadelphia Co., P&.
LENGTH OF RoAD-Philadeiphia to Baltimore
98 miles
Second track, 2.10; sidings. turnouts, etc., 17.57 miles.
Newcastle and Frenchtown Line
16
"
r Wilmington and Newcastle Railroad
7 miles.
Leased < Delaware Railroad
71
"
(Junction and Breakwater Railroad
81
"
-861
"
Total owned, leased and operated hv Company
200}miles.
ROLLING STocK-Locomotive Engines, on Philadelphia Wilmington and Balti-
more Railroad, 23 ; and on Delaware Railroad, 6
29
Cars (8-wheel) :-passenger, 1st class, 58; 2d class, 3; baggage and ex-
press, 23
84
(8-wheel): house-freight, 213 stock, 28; platform, 82 gravel 1;
dump, 70, and lumber trucks, 12
406
(4-wheel) : road, 33 and hand, 28
61-
551
The Philadelphia, Wilmington and Baltimore Railroad Company is a consolida-
tion of four railroad companies; the Philadelphia and Delaware Counties,
chartered by the Legislature of Pennsylvania, on the 2d April, 1831; the Wil-
mington and Susquehanna, chartered by the Legislature of Delaware, on the
18th of January, 1832; the Maryland and Delaware, chartered by the
Legislature of Maryland, in 1831, and the Baltimore and Port Deposit
Railroad Company, chartered by the Legislature of Maryland, in Dec.,
1831. In March, 1836, the title of the Philadelphia and Delaware Counties
Railroad Company, was changed to that of the Philadelphia, Wilmington
and Baltimore. On the 18th of April, 1836, the Wilmington and Susquehanna,
and Delaware and Maryland Companies also consolidated, under the title of
the Wilmington and Susquehanna Railroad Company; and on the 5th of
February, 1838, the Philadelphia, Wilmington and Baltimore, the Wilmington
and Susquehanna, and the Baltimore and Port Deposit Companies were
consolidated, under the title of the Philadelphia, Wilmington and Baltimore
Railroad Company; the relative interests of the old companies in the
consolidated line being represented by 10,000 shares of consolidated stock
issued to the stockholders in the old Philadelphia, Wilmington and Baltimore
Railroad; 16,000 to the stockholders in the Wilmington and Susquehanna,
and 19,000 to the stockholders in the Baltimore and Port Deposit; the par
value of the shares being $50.
Previous to the consolidation the several companies had commenced, and
most of them had completed the respective links. The Philadelphia and
Delaware Counties Company had completed its road in 1837. The Baltimore
and Port Deposit also opened its road to Havre de Grace, instead of Port
Digitized by
Google
488
PENNSYLVANIA-PHILA. WILMINGTON AND BALTIMORE.
Deposit. In the same year (July, 1837,) the Maryland and Delaware road
was completed. In 1838 the viaduct over the Schuylkill was completed, and
a connection was opened to Philadelphia by means of the Southwark road.
In 1856 the Philadelphia, Wilmington and Baltimore Railroad Company
took a lease of the Delaware Railroad (which see), for a period of 21 years,
agreeing to equip and run the road, and pay as rent 6 per cent. annually on
its cost, which, on the 31st December, 1859, amounted to $1,547,825. The
earnings of the Delaware Railroad for 1859 were $108,806, and the current
expenses, $69,652: net earnings, $39,154. The rent paid was $75,762.
In 1852 the Philadelphia, Wilmington and Baltimore Company had taken
a lease of the Newcastle and Wilmington (which see), agreeing to pay as rent
seyen per cent. on its cost of $150,000. It is by means of this line that the
connection is made with the Newcastle and Frenchtown and Delaware RR.
The Philadelphia, Wilmington and Baltimore Company owns the New-
castle and Frenchtown Railroad by an exchange of share capital. The
Junction and Breakwater Railroad, 8 miles long, is operated by the Phila-
delphia, Wilmington and Baltimore Company, at a charge of $17 per diem.
SHARE CAPITAL-Authorized, $6,250,000, in 125,000 $50 shares.
Paid in, . $5,600,000, in 112,000
"
FUNDED DEBT-$2,498,435; described as follows—
Mortgage, 6 per cent., loan bonds
$145,485
-dated 1st July, 1850, and payable, principal 1st July, 1860, and interest
semi-ánnually, 1st January and 1st July, at Philadelphia.
New Mortgage, 6 per cent., loan bonds
$2,328,485
-dated 1st July, 1859, and payable, principal 1st July, 1884, and interest
semi-annually, 1st January and 1st July, at Philadelphia. These bonds to
the amount of $2,600,000 are secured by a mortgage on the road, and were
issued for the purpose of taking up the bonds due in 1858, 1860, and 1863 :
namely, the Improvement Bonds of 1858, $144,000; the loan of 1860,
$2,161,776, and the second series of Improvement Bonds of 1863, $119,000,
or a total of $2,424,776. This new loan is offered to the holders of these
bonds severally at 95 per cent., and is secured by a first mortgage on the
road, and by a sinking fund beginning with $40,000 in 1860, and $42,000 in
1861, and so on, increasing every year by the sum of $2,000, which sinking
fund must be used in the purchase and cancellation of the loan at the
market price. Of the loan of 1860, $2,016,291 had been exchanged and
paid off to date, leaving $145,485 outstanding. In the settlement of these
loans $124,525 were paid from current revenue, and this sum may be regarded
as a surplus invested in the bonds of the Company.
Improvement, 6 per cent. bonds
$119,000
-dated 1st May, 1853, and payable, principal 1st May, 1863, and interest
semi-annually, 1st May and 1st November. at Philadelphia.
Mortgages on reai estate
$40,950
Ground rents
$10,000
FLOATING DEBT-$146,855, current liabilities.
COST OF ROAD AND EQUIPMENT-$7,743,742: in detail as follows-
Main road and appurtenances
$6,999,317
Terminus on the Delaware
$576,944
Port Deposit Branch Railroad
109,504
Engines, cars, etc
744,425
Digitized by
Google
PENNSYLVANIA PHILA,, WILMINGTON AND BALTIMORE.
489
INCOME ACCOUNT FOR THE ELEVEN MONTHS ENDING 31st OCTOBER, 1858.
Receipts-
Disbursements-
P.W.& B. & F.
Total.
Passengers
$718,071
$10,408
$728,479
Operating expenses P. W. & B. RR.
$412,071
Freight and ex-
"
"
N. & F. RR
11,415
press.
238,795
9,865
248,660
Taxes and loans to State of Delaware
Rents
41,179 $
16,918
923
Mails, etc
59,020
and New Castle county
10,167
Loss in operating Delaware Railroad.
30,007
Interest on bonds, etc
135,000
Two dividend of 3 per cent.
336,000
Balance of income.
101,499
Total
$1,014,963
$21,196 $1,036,159
Total
$1,036,159
GENERAL LEDGER BALANCE SHEET, 1ST NOVEMBER, 1859.
Dr.
Cr.
Railroad
$6,832,858
Share capital
$5,600,000
Port Deposit Br. RR.
109,515
Funded debt
2,498,435
Terminus on Delaware
56,944
Current liabilities-
Rolling stock
744,425
Dividends unclaimed
6,854
Real estate
45,044-7,788,786
Interest on coupons unclaimed
4,114
Assets-
Real estate waiting order of court.
14,500
Real estate, subject to sale, valued at.
208,000
Sundry accounts
5,742
Stock, etc., at cost
132,483
Other roads and lines
$30,181
Agents' balances
7,428
Less due from other roads
20,486-
9,695
Sundry accounts
28,321
Contractors
7,165
Due from Post Office Department
40,297
Bills payable
11,000
Bills receivable
56,457
Balance of interest on all debts
62,522
Woodlands, wood, coal, and materials.
70,642
Delaware Railroad lease for interest.
25,262
Cash.
57,137
Revenue-
Advances to-
Balance to credit 1st December, 1858.
121,724
Connecting lines
19,147
Net revenue, 11 months, ending 31st
Junction and Breakwater RR. Co
1,216
October, 1859
437,499
Seuthwark Railroad Company
22,166
Dividends 1st April, 1859 $168,000
Delaware
"
"
35,903
"
1st October, 1859 168,000-
336,000
Treasurer N. C. and F. RR. Co
479
Balance to credit of revenue
223,222
Total
$3,468,514
Total
$8,468,514
Cost OF EARNINGS EXPENSES, ETC., YEARLY.
Cost of
Mile-
Gross Earnings
Operating
Net
-Div-
Year.
Road, &c.
age.
Pass'gers.
Freight.
Mails.
Total.
expenses.
earnings.
Am't
p.
0
1838
$4,185,511
114.50
$296,796
$41,204
$33,914
$371,914
$179,149
$192,765
$150,000
71
1839
4,379,225
114.50
414,974
39,239
36,422
490,635
296,131
194,504
150,000
it
1840
4,625,920
114.50
480,484
85,689
35,363
601,536
305,075
296,461
nil.
nil.
1841
5,245,589
114.50
487,039
77,259
39,570
603,868
307,938
295,930
63,931 3
1842
5,286,371
114.50
370,667
61,684
37,507
469,858
239,965
229,893
nil.
nil.
1843
5,352,655
11450
346,210
42,644
41,580
430,434
230,384
200,050
"
"
1844
5,383,083
114.50
453,953
36.123
41,639
531,715
274,425
257,290
"
"
1845
5,433,013
114.50
419,051
48,054
40,677
507,782
278,775
229,007
"
"
1846
5,489,474
114.50
475,795
52,919
39,839
568,553
287,704
280,849
"
"
1847
5,936,325
114.50
549,547
53,692
39,826
643,065
347,895
295,170
"
=
1848
6,086,598
114.50
532,146
63,863
42,183
638,192
323,387
314,805
"
"
1849
5,991,536
114.50
501,632
86,067
40,205
627,904
340,981
286,923
115,500
3
1850
6,052,037
114.50
543,810
56,741
39,884
640,435
317,095
323,340
134,750
31
1851
6,283,802
114.50
587,000
85,172
45,838
718,010
379,702
338,308
134,750
31
1852
6,584,928
114.50
611,744
98,464
49,655
759,363
402,847
357,016
155,000
4
1853
6,897,164
119.50
768,887
122,083
51,498
942,468
453,127
489,341
225,000
5
1854
7,284,531
119.50
798,339
151,679
56,620
1,006 638
480,815
525,823
150,000
3
1855
8,065,952
119.50
757,520
193,818
60,106
1,011,444
498,596
512,848
600,000
12#
1856
8,472,317
119.50
764,858
316,382
57,924
1,139,164
476,799
662,365
112,000
2
1857
8,568,369
110.50
790,952
292,935
59,975
1,143,852
490,498
653,354
224,000
4
1858
8,254,780
110.50
773,888
260,066
61,871
1,095,845
474,880
620,965
280,000
5
1859.
7,788,786
110.50
728,479
248,659
59,021
1,036,159
433,652
602,507
336,000
6
s.133,647,966
2,527.00
12,453,771
2,514,456
1,011,107
15,979,334
7,819,830
8,159.504
2,467,000
Aver.
6,074,907
114.86
566,080
114,293
45,960
726,333
355,447
370,886
112,136
31
# In stock t Eleven months.
62
Digitized by
Google
490
PENNSYLVANIA-PITTSBURG AND CONNELLSVILLE.
PITTSBURG AND CONNELLSVILLE RAILROAD.
(Financial year ending 31st October, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
Benjamin H. Latrobe
Baltimore, Md.
Joseph Woodwell
Pittsburg, Pa.
Thomas Bakewell
Pittsburg, Pa.
Alexander Millar
Alleghany Co.,
"
Joseph Pennock
"
"
Daniel R. Davidson
Fayette Co.,
"
Charles H. Paulson
"
"
Cyrus P. Markle
Westmoreland Co.,
"
William Phillips
"
"
Benjamin Deford
Baltimore, Md.
John Watt
"
"
William F. Murdock
"
"
BENJAMIN H. LATROBE, President
Baltimore, Md.
ALEXANDER L. RUSSELL, Treasurer and Secretary
Pittsburg, Pa.
HENRY BLACKSTONE, Superintendent
Connellsville, "
PRINCIPAL OFFICE
PITTSBURG, Alleghany Co., Pa.
LENGTH OF RoAD-Turtle Creek to Connellsville
48 miles.
Second track, none. Sidings, turnouts, etc., 3.16 miles.
ROLLING SrocK-Locomotive engines.
5
Cars :-Passenger, 4; mail, baggage and express, 3; freight and other, 57. 64
The Pittsburg and Connellsville Railroad Company was chartered on the 3d
April, 1837, with authority to construct a road from Pittsburg by the course
of the Monongabela and Youghiogeny rivers to some suitable point at or
near Connellsville, etc. The charter, having lapsed, was revived by an act
passed on the 18th April, 1843, and the Company authorized to extend their
road beyond Connellsville to Smithfield, or any other point on the waters of
the Youghiogeny. In January, 1853, the Company obtained a charter from
the State of Maryland, which conferred authority for the extension of the
road into that State as far as Cumberland.
The necessary surveys were commenced on the 20th July, 1853, and the
contract for the work on the division between West Newton and Connells-
ville, 25 miles, was given out on the 22d March, 1854. This portion of the
road was completed and opened for business on the 13th September, 1855,
at a cost of $547,639. On the 26th April, of the same year, that portion of
the first division of the road between West Newton and Turtle Creek was
contracted for, and the work immediately thereafter commenced, and in the
spring of 1856, the contract was given out for the tunnel at Sand Patch
Summit. On the 10th August, 1856, the road was opened from West New-
ton to Guffey's Station, 8 miles, and on the 14th January, 1857, to the mouth
of Turtle Creek, 15 miles. Operations at the tunnel works were suspended
on the 1st October, 1857, and had not been resumed at the end of the fiscal
year, 1859. Early in 1859, the work of construction was commenced between
Turtle Creek and Pittsburg. The whole length of the road from Pittsburg
to Cumberland will be 147 miles.
This road so far as already constructed has been paid for chiefly in county
and city bonds subscribed as capital. These securities are guaranteed in
principal and interest by the Company, and to a certain extent are a lien on
the road. No interest on any class of securities has been paid by the Com-
pany since 1857, and those issued by the city of Pittsburg and the county
of Alleghany have been repudiated. Their validity, however, has been
established by the legal tribunals of the State, but these have not thus far
succeeded in enforcing the payment of the accruing interest. Baltimore City
has largely aided the Company: at first by guaranteeing its bonds to the
amount of $1,000,000, and subsequently by exchanging them for a like
amount of its own stock and bonds.
Digitized by Google
PENNSYLVANIA-PITTSBURG AND CONNELLSVILLE.
491
SHARE CAPITAL-Authorized, $3,000,000, in 60,000 $50 shares.
Paid in, - $1,753,864, on 42,855
"
-Classified as follows
No. of
Par
Paid in
Paid
Classes.
Shares.
Value.
Bonds.
in Cash. Total Paid.
Alleghany County
15,000
$750,000
$750,000
$750,000
Pittsburg City
10,000
500,000
500,000
500,000
Connellsville
2,000
100,000
100,000
100,000
McKeesport
2,000
100,000
100,000
100,000
Baltimore and Ohio Railroad Company
700
35,000
$35,000
35,000
Cumberland City
4,000
200,000
Total Corporate
33,700
$1,685,000
$1,450,000
$35,000
$1,485,000
Stock issued for real estate
371
18,550
18,550
"
"
for right of way
153
7,650
7,650
"
"
to contractors
1,940
97,000
97,000
Total real estate, etc
2,464
$123,200
$123,200
Individual stock paid in full
2,530
126,500
126,500
126,500
"
" paid in part
4,161
208,050
13,297
13,297
"
"
forfeited
5,867
5,867
Total individual
6,691
$334,550
$145,664
$145,664
Grand total
42,855
$2,142,750
$1,450,000
180,664
$1,753,864
FUNDED DEBT-$1,500,000 described as follows-
City of Baltimore, 6 per cent., Loan
$1,000,000
-dated 1st July, 1856, and payable, principal 1st July, 1886, and interest
semi-annually, 1st January and 1st July, at Baltimore.
On the 24th June, 1853, an ordinance passed the Baltimore City Councils,
which guaranteed the bonds of this Company to the amount of $1,000,000.
The price these bonds commanded in the market was unsatisfactory, and on
representations of the Company a supplementary ordinance was passed on
the 10th June, 1856, authorizing the issue of city coupon bonds and inscribed
stock in exchange for the guaranteed bonds, which last were subsequently
cancelled. This loan, which constitutes a first lien on the road, at present
consists of $94,000 in city bonds, and $906,000 in city stock. A sinking
fund, constituted of $12,000, payable annually, was provided for the redemption
of the loan at maturity.
1st Mortgage, construction 6 per cont. bonds
$400,000
--dated 1st August, 1859, and payable, principal 1st August, 1889, and
interest semi-annually, 1st February and 1st August, at New York.
The whole provision under this mortgage is $400,000, which is secured on
the section of road between Pittsburg and Turtle Creek, 101 miles, a special
release of the Baltimore Mortgage to this extent having been granted.
Bonds given for Real Estate, due 1868 and 1883
$100,000
The following statement exhibits the present condition of bonds and stocks
issued in favor of the Company by corporate bodies :
Amount
Amount
Net Proceeds
Aver.
Bonds
Classes.
Issued
Sold.
of Sales.
Real'd.
on Hand.
City of Pittsburg bonds
$500,000
$500,000
$403,489
$80.70 p.o.
Alleghany County
"
750,000
425,000
363,888
85.63
"
325,000
McKeesport
"
100,000
100
100
100.00
"
99,900
Connellaville
"
100,000
Baltimore City
"
94,000
94,000
86,822
92.36
"
"
"
stock
906,000
906,000
814,532
89.70 "
Total
$2,450,000
$1,925,100
$1,668,831
$36.68
$524,900
FLOATING DEBT-$175,550: bills payable, $146,058, and sundries, $29,492.
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492
PENNSYLVANIA--PITTSBURG AND CONNELLSVILLE.
COST OF ROAD AND EQUIPMENT-$2,441,300 : in detail as follows—
Sand Patch
Middle
Turtle Cr.
Total
Specifications.
Tunnel & East.
Division.
Division.
Cost.
Graduation
$169,802
$435,720
$5,777
$611,299
Masonry
61,831
8,898
70,728
Bridges
13,252
13,252
Superstructure
7,081
175,561
325
182,967
Iron rails
356,373
356,373
Right of way
438
58,467
4,112
63,017
Real estate
5,554
169,737
853
176,144
Station buildings
1,500
28,702
30,202
Locomotive engines
32,422
32,422
Passenger and baggage cars
10,688
10,688
Freight and other cars
33,717
33,717
Engineering
33,829
73,370
1,179
108,378
General expenses
77,931
Profit and loss
300,758
Interest
364,456
INCOME ACCOUNT FOR THE YEAR ENDING 31sT DECEMBER, 1859.
Receipts-
Disbursements-
Passenger earnings
$25,280
Motive power
$12,389
Freight earnings
29,707
Conducting transportation
11,881
U.S. mail earnings
2,400
Maintenance of way
14,932
Other earnings
451
Maintenance of cars
2,720
Construction and equipment
1,449
Earnings, less expenses
14,467
Total
$57,838
Total
$57,838
GENERAL LEDGER BALANCE SHEET, 1ST NOVEMBER, 1859.
Dr.
Cr.
Construction and material
$1,512,956
Share capital
$1,753,864
Rolling stock
76,827
Funded debt
1,500,000
Engineering
108,378
Floating debt
175,551
General Expenses
77,931
Transportation, viz. :
Profit and loss, being discount, etc
300,758
Cr.
Interest Account
364,456
Business of current year
$57,838
Uncollected, 31st Oct. 1858
3,053
Total
$2,441,300
Securities on hand and hypothecated
$54,785
Alleghany Co. bonds
$274,000
Rec'd from previous year
2,301
Connellaville
"
100,000
McKeesport
"
99,900-473,900
$57,086
Bills receivable
2,458
Balance to credit 31st Oct., '58 11,962
Construction T. C. Div. bonds
365,500
Bills receivable (T. C. Div)
3,710
$69,048
Debts due Company :
Dr.
William Larimer, Jr
155,045
Exp. of current year
$43,370
Sundry accounts
3,965
Less due 31st Oct., '58
7,226
Cash on hand
10,831
$36,144
Payments on acct. '58. 5,609-41,753- 27,294
Total
$3,456,709
Total
$3,456,709
CosT, EARNINGS, EXPENSES, ETC., YEARLY.
Cost of
Mile-
Gross Earnings
Operating Earnings, -Div-
Year.
Road, etc.
age.
Pass'r.
Freight.
Mails.
Total.
expenses. less exp.
8
p. c.
1855*
$1,195,254
25.00
934
599
1,533
1,378
155
nil.
nil.
1856
1,818,155
33.00
5,532
3,774
9,306
13,724
loss.
"
"
1857
2,285,605
48.00
23,575
20,546
1,466
45,587
41,268
4,319
"
"
1858
2,383,738
48.00
23,891
22,396
2,600
48,887
41,475
7,412
"
"
1859
2,441,300
48.00
25,280
29,707
2,951
57,938
43,371
14,467
"
"
4 Years
$10,124,052
202.00
79,212
77,022
7,017
163,251
141,216
22,035
"
"
Average
2,024,810
40.40
19,803
19,255
1,754
40,812
35,304
5,508
"
"
# Opened 13th September, 1855, from West Newton to Connellsville, and from that date to 31st
October, 1859, is reckoned in the average as 4 years.
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PENNSYLVANIA-PITTSBURG, FORT WAYNE AND CHICAGO.
493
PITTSBURG, FORT WAYNE AND CHICAGO RAILROAD.
(Financial year ending 31st December, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1860-61.
Pennsylvania.
Indiana.
George W. Cass
Pittsburg, Pa.
Samuel Hanna, (V.Pr.,) Fort Wayne, Ind.
William Robinson, Jr
"
"
Pliny Hoagland
"
"
"
Springer Harbaugh
"
"
J. L. Williams
"
"
"
Thomas A. Scott
Philadelphia,
"
A. L. Wheeler
Plymouth,
"
Ohio.
Illinois.
Kent Jarvis
Massillon, O.
William B. Ogden
Chicago, III.
John Larwill
Wooster, "
John Evans
"
"
W. Meriman
Bucyrus, "
New York.
R. McKelly
Upper Sandusky,
"
Gilead A. Smith
New York City, N.Y.
WILLIAM B. OGDEN, Receiver
Chicago, III.
GEORGE W. CASS, President and Superintendent
Pittsburg, Pa.
J.P. HENDERSON, Treasurer and T. T. MESSI.ER, Auditor
"
"
PRINCIPAL OFFICE
PITTSBURG, Alleghany Co., Pa.
LENGTH OF RoAD-Pittsburg to Crestline (Ohio & Penn. RR.)
187 miles
Crestline to Fort Wayne (Ohio & Ind. RR.)
131
"
Fort Wayne to Chicago (Ft. W. & Chic. RR.)
147
"
Total length of road, Pittsburg to Chicago
465 miles.
Second track, including sidings, turnouts, etc., 67 miles.
ROLLING STocK-Locomotive engines
177
Cars :-Passenger, 127 ; mail, baggage, and express, 32 freight, 1,392. 1,551
The Pittsburg, Fort Wayne and Chicago Railroad Company is a consolidation
of three companies, viz. : the Ohio and Pennsylvania, the Ohio and Indiana,
and the Fort Wayne and Chicago.
The "Ohio and Pennsylvania Railroad (which see) Company" was charter-
ed in Pennsylvania on the 11th April, 1848, and in Ohio on the 24th February
previous; and the road was completed and opened for business on the 11th
April, 1853. This link extends from Pittsburg to the Ohio line, 49 miles, and
thence to Crestline, 138 miles, making a total of 187 miles.
The "Ohio and Indiana Railroad (which see) Company" was chartered in
Ohio on the 28th March, 1850, and in Indiana on the 15th July, 1851. The
road extends from Crestline to Fort Wayne, 131 miles-in Ohio about 112
miles, and in Indiana, 19 miles, and was completed and opened for business
on the 1st November, 1854.
The " Fort Wayne and Chicago Railroad (which see) Company" was char-
tered in Illinois on the 5th February, and in Indiana on the 8th April, 1853,
and the road completed and opened for business on the 1st January, 1859.
It has a length of 147 miles, of which 135 miles are in Indiana and 12 miles
in Illinois.
The consolidation was authorized by the Legislatures of the four States
which the road traverses, viz. of Pennsylvania, on the 16th April, 1856; of
Ohio and Indiana, by general law, and of Illinois, on the 28th February,
1856; and was consummated on the 1st August, 1856.* At this period the
road was in operation from Pittsburg, Pa., to Columbia, Ind., 338 miles. It
was opened to Plymouth on the 10th November, 1856; to Rock Island
Articles of Consolidation, dated 6th May, 1856, were agreed to by the Ohio and Pennsylvania
Company 2d July; by the Ohio and Indiana Company on the 24th June; and by the Fort Wayne
and Chicago Company on the 12th June, 1856.
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PENNSYLVANIA-PITTSBURG, FORT WAYNE AND CHICAGO.
Junction on the 29th November, 1858, and to Chicago on the 1st January,
1859. On the 22d September, 1857, the bridge over the Alleghany River
was completed and trains for the first time entered the city of Pittsburg, the
old eastern terminus of the road having been in Alleghany City.
In 1857, the Company failed to pay the coupons due on the 1st October,
and in November following suspended payment on its floating debt. To
relieve the Company from embarrassment, and to allow the earnings to be
applied to the discharge of current liabilities, the bondholders consented to
fund the coupons falling due to April, 1859, into 10 per cent. bonds due in five
years from 1st April, 1858. This plan was only partially carried out, and de-
fault was again made in the interest falling due on the 1st July, 1859, in conse-
quence of which the road was placed in the charge of a receiver, excepting
that portion lying in the State of Pennsylvania, which had previously been
placed in the hands of a sequestrator on the suit of local creditors. To
relieve the company of its present embarrassment the following plan for the
adjustment of its liabilities is proposed:
The 1st Mortgage bonds of the old companies to be assigned to a Trustee,
and a new First General Mortgage upon the whole road to be executed for
$5,100,000. This sum will cover their principal sum, ($4,000,000) the sink-
ing fund bonds issued for interest thereon, ($420,000), and the coupons to fall
due before 1st July, 1861, not exceeding in amount $680,000. The bonds
issued under the new mortgage are to be irredeemable, and bear 6 per cent.
interest, payable semi-annually, in New York. In case of default in pay-
ment of interest for 90 days, the Trustee is empowered to take possession of
and work the road until satisfactory arrangements are made by the Company
to meet the interest regularly thereafter.
The 2d Mortgage and Income bonds of the old companies, the 3d Mort-
gage bonds of the Ohio and Indiana Company, the general Mortgage bonds
of the Consolidated Company, and the sinking fund bonds issued for interest on
all except the 1st Mortgage bonds, to be assigned to a Trustee, and a new 2d
Mortgage upon the whole road to be executed, securing the issue of $6,500,000,
of Seven per cent. Preferred Stock, in 130,000 shares. This mortgage to give
such preferred stock precedence of all other debts, except those for such
labor and materials as may be necessary for operating the road. The debts
included under this clause are to be funded at par, and entitled to all the net
profits until the amount during any one year shall exceed a sum sufficient to
pay the interest on the 1st Mortgage bonds, and a dividend of 7 per cent.
on the said preferred stock; the surplus, if any, to form a dividend on the
common stock. Until the necessary legislation be obtained, transferable
certificates of indebtedness to be issued, secured by the 2d Mortgage, and to bear
6 per cent. interest-these certificates to be converted into seven per cent.
Preferred Stock as soon as such legislation is obtained. If not obtained,
then said certificates to be converted into irredeemable 7 per cent bonds, secured
by a second mortgage. If within 90 days after the dividend or interest, as
the case may be, becomes due, the company fails to pay it, the Trustee to
take possession and manage the road temporally for the interest of all
parties, and he shall immediately thereafter give notice to the Preferred
Stockholders to elect twelve members, and to the Board of Directors to
elect three members of a Board of Control, to continue in power until the
interest shall be promptly met, and a surplus remain amounting to 2 per
cent. on the common stock in this event, the common stockholders to re-
sume control, with the proportion of the Directors above named reversed.
The Floating Debt (as it stood on the 31st October, 1859,) amounted to
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PENNSYLVANIA-PITTSBURG, FORT WAYNE AND CHICAGO.
495
$1.830,612, viz.: secured, $1,168,963, and unsecured, $661,649. This to be
discharged from the net revenues until 1st January, 1861, and by so much
as may be necessary, of the Preferred Stock remaining after funding the
Bonded Debt.
The surplus of Preferred Stock, after the payment of the Floating Debt,
is to be held and disposed of for the purpose of increasing the equipment of
the road, and of erecting stations at its termini.
The condition of the company's finances, these propositions being effected,
will then be as follows:-
Common Stock
$6,263,438
Seven per cent. Preferred Stock
6,500,000
First mortgage, 6 per cent. bonds
5,100,000
Bridge bonds, specially provided for
216,500
Real estate bonds, separately secured on land
198,000
Total
18,277,938
The Income required to meet the interest on the 1st mortgage bonds will
be $306,000; on the Preferred Stock, $455,000; and on the bridge-bonds,
$15,155, or a total of $776,155, an amount which the net receipts will, it is
believed, be ample to meet on the 1st July, 1861.
On the 31st March, 1860, the Legislature of Pennsylvania passed an act
authorizing the re-adjustment of the debt upon the basis proposed. In the
meanwhile, the road and other property of the Company to remain in the
hands of the sequestrator and receiver.
The Cleveland and Pittsburg Company, which uses that portion of the
road between Rochester and Pittsburg, pays a rental of $66,000 a year, in
monthly instalments, and one-half the cost of repairs. Previous to the 23d
July when the present contract was executed, the cars of that Company
were drawn over this portion of the road by the engines of the Pittsburg,
Fort Wayne and Chicago Company under special contract. Under the exist-
ng one, the trains of the Pittsburg and Cleveland RR. are drawn by their
own engines, the Pittsburg, Fort Wayne and Chicago supplying water.
SHARE CAPITAL-Authorized-$16,000,000, in 320,000 $50 shares.
Paid in,
-
6,266,277, of which sum $6,203,050 is
full paid, and $63,227 scrip given for fractional parts of interest and premium.
FUNDED DEBT (1st Jan. 1860-$8,895,457 : described as follows—
1st Mortgage, (0. & P. Co.) 7 per cent., coupon bonds
$1,000,000
-dated 1st July, 1850, and payable, principal 1st July, 1865, and interest
semi-annually, 1st January and 1st July. Secured on the road between
Pittsburg and Massillon.
2d Mortgage, (0. & P. Co.) 7 per cent., coupon bonds
$750,000
-dated 1st January, 1851, and payable, principal 1st January, 1866, and
interest semi-annually, 1st January and 1st July. Secured on the road be-
tween Massillon and Crestline, and on second lien on the road between
Pittsburg and Massillon.
Income ( O. P. & Co.) 7 per cent., coupon bonds
$1,988,000
-dated 1st April, 1853, and payable, principal 1st April, 1873, and interest
semi-annually, 1st April and 1st October.
# In accordance with the provisions of the " Articles of Consolidation," the stock of the Ohio and
Pennsylvania Company was exchanged for that of the new company at 120; that of the Ohio and
Indiana at 100; and that of the Fort Wayne and Chicago at 106 per cent.
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496
PENNSYLVANIA-PITTSBURG, FORT WAYNE AND CHICAGO.
Alleghany River Bridge (0. & P. Co.) 7 per cent., coupon bonds
$202,500
-dated 1st May, 1856, and payable, principal 1st May, 1876, and interest
semi-annually, 1st May and 1st Nov. Secured by mortgage on the bridge.
1st Mortgage (0. & I. Co.) 7 per cent., coupon bonds
$1,000,000
-dated 1st August, 1852, and payable, principal 1st February, 1872, and
interest semi-annually, 1st February and 1st August. Secured on the road
between Crestline and Fort Wayne.
2d Mortgage (0. & I. Co.) 7 per cent., coupon bonds
$380,000
-dated 1st October, 1853, and payable, principal 1st October, 1873, and
interest semi-annually, 1st April and 1st October. Secured on the road
between Crestline and Fort Wayne.
3d Mortgage, (0. & I. Co.) 7 per cent., coupon bonds
$17,000
-dated 1st September, 1854, and payable, principal 1st September, 1864,
and interest semi-annually, 1st March and 1st September. Secured on the
road between Crestline and Fort Wayne.
1st Mortgage (F. W.& C. Co.) 7 per cent., coupon bonds
$1,250,000
-dated 1st July, 1853, and payable, principal 1st July, 1873, and interest
semi-annually, 1st January and 1st July. Secured on the road between
Fort Wayne and Chicago.
Real Estate (F. W. & C. Co.) 7 per cent., coupon bonds
$498,000
-dated 1st December, 1856, and payable, principal 1st December, 1866, and
interest semi-annually, 1st June and 1st December.
Construction (P., F. W. & C. Co.) 7 per cent., coupon bonds
$1,004,000
Redemption (P., F. W. & C. Co.) 7 per cent., coupon bonds
$2,000
-dated 1st January, 1857, and payable, principal 1st January, 1887, and
interest semi-annually, 1st January and 1st July.
These two classes of bonds are secured by a mortgage on the whole
road. The amount provided is $10,000,000, of which $3,500,000 are
applicable to "construction," and $6,500,000 to the "redemption" of out-
standing bonds. Both are convertible into stock at any time within 10 years
from date. The sinking fund provided for the payment of these bonds at
maturity is formed by setting apart semi-annually an amount equal to three-
fourths of one per cent. per annum of the whole issue for the first ten years,
and one and a half per cent. for the remainder of the time the bonds have to
run-the proceeds to be invested in the bonds when the same can be pur-
chased at or below par.
Roal Estate (P., F. W. & C. Co.) 7 per cent., coupon bonds
$198,000
-dated 1st December, 1856, and payable, principal 1st December, 1866, and
interest semi-annually, 1st January and 1st July.
Sinking Fund, 10 per cent., coupon bonds
$282,765
-dated 1st January, 1858, and payable, principal 1st January, 1863, and
interest semi-annually, 1st January and 1st July.
Sinking Fund, 10 per cent., coupon bonds
$90,510
-dated 1st February, 1858, and payable, principal 1st February, 1863, and
interest semi-annually, 1st February and 1st August.
Sinking Fund, 10 per cent., coupon bonds
$230,895
-dated 1st April, 1858, and payable, principal 1st April, 1863, and interest
semi-annually, 1st April and 1st October.
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PENNSYLVANIA-PITTSBURG, FORT WAYNE AND CHICAGO.
497
The three last classes of bonds have been issued for coupons surrendered,
and are provided for by separate sinking funds from net earnings.
Scrip convertible into construction bonds at par
$1,787
All the bonds of the Company and the interest thereon are payable in the
city of New York.
FLOATING Дввт—$1,883,848 described in detail as follows—
Bills payable (0. & P.)
$4,000
Construction accounts payable
$40,346
"
"
(0. & 1.)
8,795
"
"
(Pa. RR. Co.)
512,755
"
"
(F. W. & C.)
9,766
Transportation accounts payable
83,569
"
"
(P., F. W., & C.)
776,872
Other accounts payable
161,931
Warrants payable
33,662
Coupons past due
252,150
COST OF ROAD AND EQUIPMENT-$15,557,778 in detail as follows—
Cost of Road to
Balances charge-
Total cost of
Aug., 1856.
able to cost prior
Road to 1st
to 1st Aug. 1856.
Aug. 1856.
Ohio and Pennsylvania Railroad
$6,079,971
$219,904
$6,299,875
Ohio and Indiana Railroad
3,235,058
244,811
3,479,869
Fort Wayne and Chicago Railroad
1,757,515
101,462
1,858,577
Total cost of road, 1st August, 1856
$11,072,544
$565,867
$11,638.321
Construiction-Eastern Division, since 1st August, 1856
$1,009,218
"
Western Division, since 1st August, 1856
1,922,234
Discount on bonds, chargeable to Construction
461,814
Premium on stock of Ohio and Pennsylvania Company
$530,814
"
" of Fort Wayne and Chicago Company
71,523-
602,337
Total cost of road to 31st December, 1859
$15,633,924
Less proceeds of sale of engine
$3,000
"
"
" of part of depot ground in Chicago
73,146-
76,146
Actual cost of road and property to date
$15,557,778
OPERATIONS OF THE RoAD-1857-58-'59.
1-Mileage performed by Engines.
Passenger.
Freight.
Wood.
Gravel.
Total.
1857-Eastern Division
377,124
328,971
23,331
26,018
755,444
Western
"
257,582
170,183
36,668
70,411
534,844
Total
634,706
499,154
59,999
96,429
1,290,258
1858-Eastern Division
373,876
433,413
21,193
25,034
853,516
Western "
267,175
162,286
19,983
91,069
540,513
Total
641,051
595,699
41,176
116,103
1,394,029
1859-Eastern Division
380,665
529,973
23,981
22,236
956,855
Western "
395,477
374,717
45,115
86,867
902,176
Total
776,142
904,690
69,096
109,103
1,859,031
2-Number of Passengers transported and the Revenue therefrom.
Eastward.
Westward
Total
No of
Carried
Revenue
No. of
Carried
Revenue
No. of
Carried
Revenue
Pass'gers.
one mile.
fm
Pass.
Pass gers.
one mile.
fm Pass.
Pass'gers.
one mile.
fm Pass.
1857-257,490
16,937,397
$428,533
270,777
21,584,044
$510,766
528,268
38,521,441
$939,330
1858-215,456
13,816,814
360,609
223,584
15,465,969
381,842
439,040
29,282,783
742,451
1869-201,922
15,592,587
394,430
221,394
16,511,855
401,309
413,317
31,104,442
795,739
3-Tonnage of and Revenue from Freight transported.
Eastward.
Westward
Total.
Tons of
Carried
Revenue
Tons of
Carried
Revenue
Tons of
Carried
Revenue
Freight.
one mile. fm Fr'ght.
Freight.
one mile. fin Fr'ght.
Freight.
one mile. fm Fr'ght.
1857.160,493
12,253,334
$293,134
144,276
16,640,726
$364,552
304,769
28,893,960
$657,686
1858-143,572
18,222,319
342,948
142,091
16,946,004
324,322
285,663
35,168,323
667,269
1859-189,697
33,350,552
494,472
172,909
25,070,653
469,660
362,606
58,421,205
964,133
63
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498
PENNSYLVANIA-PITTSBURG, FORT WAYNE AND CHICAGO.
4-Freight Classified by Weight.
Forest
Animal Vegetable Other Agr. Manu- Merchan-
Miscel-
Total
Products.
Products.
Products.
Products.
factures.
dize.
laneous.
Tons.
1857--Eastward.
11,214
43,670
28,890
2,304
10,085
16,665
47,365
160,493
Westward
5,344
2,378
2,270
323
14,541
77,292
42,128
144,276
Total
16,558
46,048
31,160
2,627
24,626
93,957
89,493
304,769
1858--Eastward.
10,921
46,685
52,549
4,260
10,634
3,424
15,099
143,572
Westward 7,166
1,783
3,694
412
28,053
39,919
61,064
142,091
Total
18,087
48,468
56,243
4,672
38,687
43,343
76,163
285,663
1859--Eastward 14,238
56,591
64,013
4,682
13854
4,097
31,222
189,697
Westward 9,394
2,652
6,718
327
32,184
48,278
73,356
172,909
Total
23,632
59,243
70,731
5,009
46,038
52,375
104,578
362,606
INCOME ACCOUNT FOR THE YEAR ENDING 31sT DECEMBER, 1859.
Receipts-
Disbursements-
Passenger earnings
$795,739
Balance 31st December, 1858.
$142,026
Freight
"
964,133
Transportation expenses, 1859:
Express
"
39,198
Conducting transportation $284,890
Mail
"
93,900
Motive power
460,765
Rent of road, (P. & C.)
66,000
Maintenance of way
351,399
Sundry rents
3,833
"
of cars
136,883
Miscellaneous
3,184
General expenses.
57,396
1,291,333
Total earnings
$1,965,987
Interest on bonds
628,600
Discount on Sinking Fund Bonds
"
on Floating Debt
113,057
redeemed by Trustee
13,713
Discount on currency
6,906
Balance 31st December, 1858
142,026
Exchange on bills remitted to London
2,493
"
"
1859, be-
Commission allowed for funding
ing excess of expenses, interest,
coupons
1,494
discounts, etc., over earnings
94,484
Taxes paid for 1859
6,014
Drawbacks and overcharges
24,286
Total
$2,216,211
Total
$2,216,211
GENERAL LEDGER BALANCE SHEET, 1ST January, 1860.
Dr.
Cr.
Cost of road and equipment
$15,557,779
Share capital
$6,266,278
Real estate, excl. of rondway grounds
914,516
Funded debt
8,893,670
Cash on hand
52,378
Script convertible into bonds
1,787
Stock in Spr., Mt. V.,& Pitts. RR. Co.
77,500
Floating debt
1,883,848
Bonds of Dayton & Michigan RR. Co.
13,600
Current expenses
198,846
Materials on hand
123,647
Coupons due Jan., 1858, to April,
Other available assets
262,210
1859, to be funded
24,990
Sundry accounts, bad and doubtful
31,279
Balance of income account
236,510
Total
$17.269,419
Total
$17,269,419
COST, EARNINGS, EXPENSES, ETC., YEARLY.
Cost of
Mile-
Gross Earnings
Operating
Earnings,
-Div.-
Year.
Road, etc.
age.
Pass'gers.
Freight.
Mails.
Total.
Expenses.
less exp.
8
p.c.
356*$12,764,894
338.00
$370,456
$402,015
$23,108
$795,579
$273,434
$522.145
nil. nil.
1857.
14,048,759
383.00
942,765
657,686
59,974
1,660,425
1,036,011
625,414
349,830 6
1858.
14,631,110
383.00
742,451
698,570
126,211
1,567,232
965,573
601,659
nil. nil.
1859.
15,557,779
465.00
795,739
964,133
206,116
1,965,988
1,291,333
674,655
"
44
Total.
57,002,532
1,569.00
2,851,411
2,722,404
415,409
5,989,224
3,565,351
2,423,873
349,830
Aver.
14,250,633
392.25
814,689
777,830
118,688
1,018,672
1.018,672
692,535
99,951
1.7
Operations from 1st August to 31st December-5 months, reckoned as half & year in deducing
the average.
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PENNSYLVANIA-PITTSBURG AND STEUBENVILLE.
499
PITTSBURG AND STEUBENVILLE RAILROAD.
BOARD OF DIRECTORS AND OFFICERS, 1860.
M. B. Brown,
Mat. Holmes,
Joshua Rhodes,
William Phillips,
R. F. Smyth,
J. Schoonmaker,
A. B. Berger,
A. S. Nicholson,
J. S. Cosgrave,
Wm. S. Haven,
M. K. Moorhead,
Jesse Edgington.
ISAAC JONES, President
Pittsburg, Pa.
SIDNEY F. VON BONNHORST, Treasurer and Secretary
"
"
PRINCIPAL OFFICE
PITTSBURG, Alleghany County, Pa.
LENGTH OF RoAD-Pittsburg, Pa., to Steubenville, Ohio
42 miles
The Pittsburg and Steutenville Railroad Company is a consolidation of the
"Pittsburg and Steubenville Railroad Company," incorporated by the Legis-
lature of Pennsylvania on the 24th March, 1849, and for which letters patent
were issued by the Governor in July, 1851, and the " Holliday's Cove Rail-
road Company," incorporated by the Legislature of Virginia in March,
1850, the latter with power to bridge the Ohio River at Steubenville. The
length of the line authorized is about 42 miles, of which 35 miles are in
Pennsylvania and 7 miles in Virginia, crossing that portion of the State
popularly known as the " Panhandle of Virginia." At Pittsburg the road
will connect by a bridge over the Monongabela River with the Pennsylvania
Railroad, and at Steubenville with the Steubenville and Indiana Railroad. Its
construction was commenced the 18th September, 1851, and after having
been prosecuted for some years has been suspended. It is now proposed to
recommence its construction under the auspices of the Western Transporta
tion Company, to which it is leased for a period of 20 years from its opening,
at an annual rental of 40 per cent. of its gross receipts. The Pennsylvania
Railroad Company has agreed to adopt this line, when completed, for its
southwestern business. The proceeds arising from the operations of the
road are to be appropriated-1st, to the interest on the first mortgage bonds;
2d, to the interest on the second mortgage bonds 3d, to the other liabilities
of the Company in order of their priority; and lastly, to the stock of the
Company.
SHARE CAPITAL-Authorized, $1,500,000; in 15,000 $100 shares.
Paid in, - $1,257,700, on 12,577 "
"
Subscribed by the City of Pittsburg, $550,000; by Alleghany County,
$500,000, and by individuals, $207,700.
FUNDED Девт—$1,500,000: classified as follows—
1st Mortgaqe 7 per cent. coupon bonds
$1,000,000
-dated 1st August, 1856, and payable, principal 1st August, 1881, and
coupons, semi-annually, 1st February and 1st August, in New York City.
These bonds have been provided in lieu of previous mortgage bonds,
dated 1855, and payable 1865, but none have as yet been issued.
2d Mortgage 7 per cent. bonds
$500,000
-dated 1st August, 1856, and payable, principal 1st August, 1881, and
interest, semi-annually, 1st February and 1st August, in New York City.
Only a portion of these bonds (amount not stated) has been issued.
No interest has been paid on the Company's bonds.
Cost OF ROAD AND EQUIPMENT-$1,760,616. No detail.
Digitized by Google
500
PENNSYLVANIA--QUAKAKE.
The Western Transportation Company" is a corporation empowered by
the Legislature of Pennsylvania to complete and operate the Pittsburg and
Steubenville and other railroads. The Directors and Officers for 1860 are as
follows:-
Directors-J. Edgar Thomson, Herman J. Lombaert, Thomas S. Clark, and H. H.
Houston.
President-JOSEPH D. POTTS, Pittsburg, Pa.; Treasurer-W. J. PALMER, Philadel-
phia, Pa. Chief Engineer-THOMAS SEABROOK, Pittsburg, Pa.
PRINCIPAL OFFICE
PITTSBURG, Alleghany County, Pa.
QUAKAKE RAILROAD.
(Financial year ending 30th November, 1859.)
OFFICERS OF THE COMPANY, 1859-60.
CHARLES HARTSHORNE, President
Philadelphia, Pa.
A. M. KIMBER, Treasurer
"
"
PRINCIPAL OFFICE
PHILADELPHIA, Philadelphia Co., Pa.
LENGTH OF RoAD-Catawissa, William-port and Erie Railroad to Beaver
Meadow Railroad
14.09 miles.
Second track, graded but not laid. Sidings, etc., 0.47 mile.
The Quakake Railroad Company was chartered on the 25th April, 1857,
with a capital of $500,000, and organized on the 25th June. On the 1st
July of the same year the Company provided $200,000 on 1st mortgage 10
per cent. coupon bonds, payable in 30 years. Construction was commenced
in the ensuing fall, and the road completed and opened for business on the
25th August, 1858. A supplemental act was passed on the 22d March
1859, authorizing the Company to extend the road to the Mahonoy coal
fields, and construct all necessary branches to the mines, for which purposes
it might issue a special stock and mortgage bonds; and by a further
supplement to the charter, passed on the 2d April, 1860, the Company was
authorized to issue $250,000 in 8 per cent. preferred stock for the purpose
of converting its present funded debt and accrued interest thereon, provided
the common stock should be reduced from 10,000 to 2,000 shares. This
proposed re-orgunization of the Company's financial condition, has been
rendered necessary from the insufficiency of the earnings to pay the stipulated
interest on the existing bonds, and if carried out it is thought will enable
the Company to obtain means for the extension of the road. The road is
operated by the Catawissa, Williamsport, and Erie Company.
SHARE CAPITAL-Authorized, $500,000; in 10,000 $50 shares.
Paid in, - $454,000, on 9,080 "
"
FUNDED DEBT-$200,000; described as follows-
1st Mortgage 10 per cent. coupon bonds
$200,000
-dated 1st July, 1857, and payable, principal in 30 years, and interest semi-
aunually, 1st January and 1st July, at Philadelphia.
FLOATING DEBT-About $25,000.
COST OF ROAD AND APPURTENAnCES-$668,933. No detail.
INCOME.-The earnings of the road for the year 1859 amounted to $677
from passengers, and $3,121 from freight, being the proportion paid by the
lessee as rent of the road.
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PENNSYLVANIA-SCHUYLKILL VALLEY.
501
SCHUYLKILL VALLEY RAILROAD.
(Financial year ending 31st October, 1859.)
JOHN TUCKER, President
PHILADELPHIA, Pa.
LENGTH OF RoAD-Port Carbon to Tuscarora
9.23 miles.
Second track, 5.23 miles. Sidings, turnouts, etc., 4.88 miles.
Thirty-one branch roads-aggregate length
15.22
"
Second track, none. Sidings, turnouts, etc., 4.88 miles.
ROLLING STOCK-None. Furnished chiefly by Philadelphia and Reading Company.
The Schuylkill Valley Raiload and Navigation Company was chartered on the
14th April, 1828, and under various acts has been authorized to extend the
road and construct branches. The principal branches are at Bethmont,
Hubleyville, New Philadelphia, Middleport, and Brockville, running north
through those places to the mines. The original road was completed for five
miles in 1830, and has been extended and branched as the development of
the country progressed. No records previous to 1848 are obtainable.
SHARE CAPITAL-Authorized and paid in, $568,150, in $50 shares.
Cost OF ROAD AND APPURTENANCEs-$573,616. No detail.
TONNAGE, 1858-9-245,008 tons, of 2,000 lbs., namely-
Merchandise
2,804 I Coal
241,371 I Lumber
833
CAPITAL, Cost OF ROAD, EARNINGS, EXPENSES, ETC., YEARLY.
Capital
Cost of
Amount Expenses Earn'gs
Div
Year.
Share.
Debt.
Total.
Road, etc.
of Tolls.
&
Repairs
less Exp.
Am't. Rate.
1848
$106,200
13.628
$419,828
$424,124
$52,313
13,107
$39,206
$39,941
10
1849
431,600
431,600
431,041
45,878
12,447
33,431
34,112
8
1850
437,600
3,832
441,432
437,114
46,774
22,507
24,267
26,196
6
1851
437,600
437,600
437,114
51,896
18,508
33,388
30,632
7
1852
524,000
524,000
523,319
56,619
20,965
35,654
34,736
7
1853
519,200
25,994
545,194
542,884
63,963
17,683
46,280
41,566
8
1854
561,450
5,443
566,893
555,283
70,283
21,429
48,854
50,442
9
1855
561,450
561,450
561,450
73,409
19,000
54,409
50,442
9
1856
561,450
3,482
564,932
566,519
58,006
18,416
39,590
41,266
7
1857
568,150
3,105
571,255
573,616
45,567
17,630
27,937
28,975
5
1858
568,150
568,150
573,616
42,495
15,300
27,195
25,800
41
1859
568,150
568,150
573,616
41,676
16,200
25,476
19,890
3t
12 years
$6,145,000
55.484
$6,200,484
$6,199,696
$648,899
$204,192
$444,707
$423,998
Average
512,083
4,623
516,707
516,641
54,075
17,016
37,059
35,333
6
SCHUYLKILL AND SUSQUEHANNA RAILROAD.
(Financial year ending 31st March, 1859.)
THOMAS E. Davis, President
New York City, N.Y.
FREDERICK SCHUCHARDT, Treasurer
"
"
DANIEL TYLER, General Superintendent
Rausch Gap, Pa.
PRINCIPAL OFFICE
No. 21 Nassau street, NEW YORK CITY, N.Y.
LENGTH OF RoAD-Rockville to Auburn
54 miles.
Second track, none. Sidings, turnouts, etc., 3 miles.
ROLLING SToCK-Locomotive engines.
7
Cars :-passenger, 1st class, 3, and 2d class, 4; freight, 24 ; coal, 2.
33
The Schuylkill and Susquehanna Railroad Company was chartered on the 1st
April, 1859, and is successor to the Dauphin and Susquehanna Coal Company.
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502
'PENNSYLVANIA-SCHUYLKILL AND SUSQUEHANNA
The latter was chartered as a coal company on the 5th April, 1826, and by
an act supplementary to its charter, passed on the 16th April, 1838, was
authorized to construct a railroad or canal along Stony Creek on the lands
of the said company, and by a further supplement passed on the 18th March,
1848, to construct its railroad or canal so as to connect with the State or
other public improvements in Dauphin or Lebanon counties. On the 26th
February, 1852, an act was passed authorizing the company to extend its
road to a connection with the public improvements in Schuylkill county.
The original road extending from the company's mines to the Susque-
hanna, at Dauphin, 18 miles, was completed in 1851, and the extension to
Auburn, on the 1st February, 1854.
From the period of its completion it became apparent that the road could
not earn an income sufficient to pay the interest on the company's bonded
debt; and up to the 1st January, 1858, there remained unpaid the sum of
$152,051. On the 18th March of that year the trustees under the mort-
gage of 1852 declared the principal debt to be due, and on the 8th April
the property of the company was placed in the hands of assignees, and a de-
cree was obtained for the sale of the property. This took place at Philadel-
phia on the 1st March, 1859, and a new company organized under the act
of 1st April, 1859. The authorized capital of the new company is $1,500,000
in $50 shares, and the mortgage debt $1,000,000.
The sale of road was on account of the 1st mortgage bondholders, to whom,
under the new organization, stock has been issued to the amount of their
bonds. The holders of the 10 per cent. bonds were allowed to convert them
into stock at one half. their nominal value. The amount of bonds issued by
the new company is $97,000 ; stock, $1,258,700.
Condition of the Dauphin and Susquehanna Company 1st Jan., 1858:
Cr.-Ordinary shares (43.707) $2,190,350, preferred shares (48,491) $2,424,550, and preferred scrip
$2,522-total stock, $4.617,422; mortgage, 6 per cent. bonds, due 1st May, 1866, $97,000, 7 per
cent. bonds, 1st July, 1877, $903,000, 10 per cent. bonds, 1st July, 1865, $304,075, 10 per cent.
scrip bonds, $125, 7 per cent. (red.) bonds, $60 000-total mortgage debt, $1,364,200; coupons and
interest unpaid, $152,051 ; profit and loss, sundry balances, etc., $134,578-total, $6,208,325.
Dr.-Real estate (41,801 acres), $1,300,000 railroad, $699,229, extension to Auburn, $1,052,550,
and shipping basin at Dauphin, $41,100; locomotives and cars, $188.146; expenditures nt vari-
ous points, $718,349; suspense account, $1,552,038; bonus to Allentown Railroad, $395,739; tele-
graph, $3,674; interest, $188,161; sundry balances, $65,355 treasurer, $3,984-total, $6,208,325.
RECEIPTS AND EXPENSES FROM 1ST JANUARY, 1855, TO 31sT MARCH, 1859.
Gross
Expenses
Earnings
Receipts.
Operating.
Repairs.
Taxes.
General.
Total.
less Exp.
Year 1855
$111,627
$45,984
$18,970
$2,484
$8,244
$75,682
$35,945
"
1856
118,932
59,354
9,878
2,180
10,135
91,546
27,386
" 1857
104,303
48,946
23,108
5,825
1,126
79,005
25,298
1st Jan. to 8th Apr., 1858.
32,753
13,384
4,549
981
123
19,037
13,716
8th April, 1858 to 31st
March, 1859
75,291
(Including $6,396 for construction.)
57,316
17,975
Total
$442,906
Average
104,213
~
1st January, 1855, to 31st March, 1859.
~
$322,586
$120,320
75,903
28,310
SHERMAN'S VALLEY AND BROAD TOP.
The line of this proposed railroad leaves the Pennsylvania Railroad 61
miles west of Harrisburg, and follows up the valley of Sherman's Creek, and
then extends in a southwesterly direction, with a view of connecting with the
Baltimore and Ohio Railroad in the vicinity of Cumberland. Surveys have
been made, but the work of construction has not yet been commenced.
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PENNSYLVANIA-SHAMOKIN VALLEY AND POTTSVILLE.
503
SHAMOKIN VALLEY AND POTTSVILLE.
(Financial year ending 31st March, 1860.)
BOARD OF DIRECTORS AND OFFICERS, 1860-61.
Charles Borie
Philadelphia, Pa.
John Farnum
"
"
"
"
I
Philadelphia, Pa.
A. M. Eastwich
W. C. Houston
"
"
William R. Lejee
E.S. Wheelen
"
"
JAMES S. BIDDLE, President
Philadelphia, Pa.
JOHN L. GODDARD, Treasurer
"
"
A. R. FISKE, Superintendent
Shamokin, "
PRINCIPAL OFFICE
PHILADELPHIA, Pa.
LENGTH OF Rosd-Main Road, Sunbury to Mt. Carmel
28.03 miles.
Branch Road, to the Lancaster Colliery
1.12 .6
Second track, none. Siding, turnouts, etc., 2.02 miles.
ROLLING STocK-Locomotive engines.
4
Cars :-passenger, 1; freight, 5 ; coal, 402 others, 38
446
The Shamokin Valley and Pottsville Railroad Company was incorporated on the
25th March, 1858, and is successor to the Philadelphia and Sunbury Railroad
Company, chartered under the title of Danville and Pottsville in 1826. The
construction of the western portion of the road from Sunbury to Shamokin,
19 miles, was commenced in 1830, and completed within two or three years
from that time. It was used for several subsequent years for the transporta-
tion of coal, but being an imperfectly constructed work was abandoned.
The eastern portion of the road from Pottsville, over the Broad Mountain,
into the Mahonoy Coal Field, 11 miles, was also commenced in 1830 and com-
pleted in 1831-32. After being in use a short time, the superstructure was
suffered to decay and was abandoned. Towards construction the State
guaranteed the interest on $300,000 of the Company's 5 per cent. bonds. In
1850 an act was passed authorising the sale of the road, and a new company
was organized under the title of Philadelphia and Sunbury, by which the
western portion of the old road from Sunbury to Shamokiu was re-constructed,
and an extension built to Mt. Carmel. In 1858 the property and franchise
of the Company were transferred to the present owners.
SHARE CAPITAL-Authorized, $1,500,000 in 30,000 $50 shares.
Paid in, - $862,800 on 18,656
"
FUNDED DEBT-$821,847 classified as follows—
1st Mortgage, 7 per cent., coupon bonds
$700,000
-issued in 1852, and payable, principal in 1872, and coupons semi-annually,
1st February and 1st August, in Philadelphia.
Convertible, 6 per cent., bonds
$89,700
-issued in 1858, and convertible at pleasure; interest semi-annually.
Funded coupons, 6 per cent., bonds
$32,147
-issued in 1858, and payable, principal in 1863, and interest semi-annually,
1st February and 1st August, in Philadelphia.
FLOATING DEBT-$5,000.
Cost OF ROAD AND EQUIPMENT-$1,696,406: as follows:
Road and appurtenances
$1,239,836
Locomotive engines.
$29,102
Coal lands, etc
363,004
Passenger, freight and coal cars.
61,463
Digitized by Google
504
PENNSYLVANIA-SUNBURY AND ERIE.
INCOME ACCOUNT FOR THE YEAR ENDING 31st MARCH, 1860.
Receipts-
Disbursements-
Passenger earnings
$3,261
Transportation expenses
$22,027
Merchandise
"
8,086
Repairs-roadway
14,185
Coal
"
87,761
"
cars
2,533
Mail
"
1,500
Salaries and office expenses
7,160
Rents of coal lands
2,350
Interest
51,445
Balance to credit of profit and loss
888
Total
$102,958
Total
$102,958
GENERAL STATEMENT, 1ST APRIL, 1860.
Dr.
Cr.
Cost of railroad and appurtenances
$1,239,837
Share capital
$862,800
Equipment
93,565
Funded debt
821,848
Coal lands, etc
363,005
Floating debt
5,000
Balance
6,959
Total
$1,696,407
Total
$1,696,407
STRASBURG RAILROAD.
(Financial year ending 30th November, 1859.)
D. G. ESHELMAN, President
Strasburg, Lancaster Co., Pa.
LENGTH OF RoAD-Strasburg to Lemon Place
4.25 miles.
Second track, none. Sidings, etc., 0.75 mile.
ROLLING STOcK-Locomotive engines
1
Cars :-passenger, 1; freight and baggage, 24; coal, 7
32
The Strasburg Railroad Company was chartered on the 9th June. 1832.
The road was constructed in 1837. Having been run without profit for a
number of years, and the Company becoming involved in financial difficulties,
it was sold under foreclosure in the spring of 1859, and has since been leased
by the purchasers (who formed a new company) to a private firm. It is
chiefly used for the transportation of coal (about 3,000 tons per annum,) from
the Philadelphia Division of the Pennsylvania Railroad to Strasburg. There
are no available returns of its value or income.
SUNBURY AND ERIE RAILROAD.
(Financial year ending 31st December, 1859.)
BOARD OF MANAGERS AND OFFICERS, 1860.
Ellis Lewis
Philadelphia, Pa.
S. V. Merrick
Philadelphia, Pa.
A. Boyd Cummings
"
"
Henry Duhring.
"
"
Philip M. Price
"
"
C. B. Wright
Erie City, "
D. K. Jackman
Lock Haven, "
Jos. M. Sterrett
"
"
"
Managers on the part of the City of Philadelphia.
Alexander Cummings,
John M. Riley,
Thomas J. Jeffries.
WILLIAM G. MOORHEAD, President
Philadelphia, Pa.
EDWARD F. GAY, Vice- President and General Superintendent
"
"
JOHN LINDSAY, Treasurer
=
"
W. EDWARD SPOFFORD, Secretary
"
3
ROBERT FARIES, Chief Engineer
Williamsport, "
PRINCIPAL OFFICE
No. 324 Walnut street, PHILADELPHIA, Pa.
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PENNSYLVANIA-SUNBURY AND ERIE.
505
LENGTH OF BoAD-Located: Sunbury to Erie City
289 miles.
Completed: Sunbury to Whetham Station
86 miles.
"
Erie City to Warren
66
"
147
"
ROLLING STocK-Locomotive engines
5
Cars :-passenger, 4; freight, baggage and express, 22
26
The Sunbury and Erie Railroad Company was chartered under an act of the
Legislature of the State of Pennsylvania, passed on the 3d April, 1837,
with a capital of $3,000,000 (which might be increased to double that
amount), and authorized to construct a railroad " from Sunbury by way of
Northumberland and Williamsport by the most eligible route to the harbor
of Erie"-the State reserving to itself the right to purchase the work at any
time after the expiration of 50 years by paying to the Company the cost of the
property and what, including dividends, would be equal to six (amended to
eight) per cent. per annum on the same from the commencement. The work
was required to be commenced by the 1st June, 1838, and finished for 200 miles
within seven years, and for the whole length within nine years. By subse-
quent amendments these dates for completion were changed to 1851, 1858
and 1860. By further supplements to the charter-corporate bodies were
empowered to subscribe to the share capital, making their payments in cer-
tificates of debt; the managers were authorized to pay six per cent. interest
on stock during the progress of the work; the stock was exempted from
taxation until the net earnings of the road should realize at lease six per
cent. per annum upon cost and until its completion; the right conferred to
construct branch lines, and a line between Bridgeport and Sunbury should
Susquehanna Railroad not complete that road within a reasonable time, etc.
For the purposes of construction, the line is divided into three portions—
the Eastern Division extending from Sunbury to the mouth of the Driftwood
Branch of the Sinnemahoning Creek, 120 miles; the Middle Division,
thence to Two-Mile Run (a tributary of the Tionesta), 831 miles, and the
Western Division thence to Erie, 85} miles.
The elevation of Sunbury is 423 feet above the sea and of Erie City 573
feet. Clarion Summit, 1931 miles from Sunbury and 951 miles from Erie
City, has an elevation of 2,006 feet. The average grade at this point is
56.60 feet to the mile. The average grade from Miner's Summit, 9 miles
east of Erie City, to Belle Valley, a distance of 2 miles, is 69.50 feet, and
thence to Erie City, a distance of 7 miles, 63.4 feet. In no other parts of the
road does it exceed 52.80 feet, and for 250 miles the average is under 35
feet, while for the first 80 miles west of Sunbury it is less than 5 feet. The
curvatures are nowhere excessive.
That portion of the road between Milton and Williamsport, 271 miles, was
commenced in 1852, and completed in December, 1854, and the section be-
tween Milton and Sunbury, 121 miles, was completed in September of the
following year. These sections gave an outlet, northward, via Williamsport,
to the coal fields of the Shamokin Valley. The work of construction was
continued westward, and the road was opened to Lock Haven on the 1st July,
and to Whetham on the 1st August, 1859, and at the end of that year the
whole of the Eastern Division was graded and bridged, and ready for the
iron. The work on the Western Division was commenced in 1857, and in
December, 1859, the track laying, which had been begun in May, was com-
pleted from Erie City to Warren, a distance of 66 miles. Nearly the whole
of the division is now also graded and the most important bridges put up.
The surveys of the Middle Division were completed early in 1859. The
64
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PENNSYLVANIA-SUNBURY AND ERIE.
grading and other work on this is already in a forward condition. The sum
of operations for the last year was the completion of the grading and bridg-
ing of 200 miles of road, and the laying of the track on 108 miles of this
distance, with the necessary sidings and station houses, leaving the track yet
to be put down about 140 miles, of which 100 miles are prepared for the
iron. The means of the company for the prosecution of the work (as else-
where shown) are ample, and should no unforeseen casualty interveno, the
whole road may be brought into use by the end of the year 1860.
The financial history of the company up to the year 1858 had been one
of persevering but fruitless efforts to obtain subscriptions to its capital stock
sufficient to accomplish the object for which it' was incorporated. On the
21st of April of that year, the Governor of the State approved an act enti-
tled, "An act for the sale of the State Canals." By this act the Sunbury and
Erie Company was authorized to purchase the Delaware Division, the Lower
North Branch Division, the Upper North Branch Division, and the West
Branch and Susquehanna Divisions, for the sum of $3,500,000. The purchase
money was to be paid in the 5 per cent. bonds of the company, which bonds the
company were authorized to issue to the amount of $7,000,000, secured by
a mortgage on the whole line of the road. Power was also given to the
company, in case it should make the purchase, to sell the property or any
part of it to other corporations, on condition that if the same should be sold
for a larger sum than the price paid to the State, 75 per cent. of the excess
should be paid into the State Treasury. In pursuance of this act the pur-
chase was effected. The $3,500,000 in bonds was paid, and the remainder of
issue deposited in the office of the State Treasurer, to be appropriated as
thereafter might be required in the construction of the road. Under this act
the company was also required to raise $1,000,000 additional to its share
capital, to be applied during the progress of the work to construction.
The Canals were subsequently sold by the Sunbury and Erie Company, and
conveyed to other parties, for the aggregate sum of $3,875,000, as follows:
The Upper and Lower North Branch Divisions, to the North Branch Canal Company, for $1,600,000
The West Branch and Susquehanna Divisions, to the West Branch and Susquohanna
Canal Company, for
500,000
The Delaware Division to the Delaware Division Canal Company, for
1,775,000
-making the total amount of money received by the several sales $3,875,000.
The North Branch Canal Company afterwards sold to the Wyoming Canal
Company that portion of the canal which extends from Wilkesbarre to
Northumberland, and the payment of the entire work was made by the two
companies as follows
By the North Branch Canal Company
$590,000
By the Wyoming Canal Company
1,010,000
The proceeds of these several sales having exceeded the amount of the
purchase money paid to the State by $375,000, 75 per cent. of the excess was
paid to the State Treasurer on the 17th September, 1859. Of this payment,
$281,000 were in the bonds of the Wyoming Canal Company, and the
remainder in cash. In compliance with the provisions of the act of the
Legislature, there was also deposited in the State Treasury, bonds of the
different canal companies, grantees of the works, as follows
Of the Delaware Division Canal Company
$1,000,000
Of the West Branch and Susquehanna Canal Company
500,000
Of the North Branch Canal Company
200,000
Of the Wyoming Canal Company
30,000
-all of which bear interest at the rate of 6 per cent., and are to be returned
to this company-one-half thereof when the road shall be ready for the
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PENNSYLVANIA-SUNBURY AND ERIE.
507
superstructure from Williamsport to the mouth of the Sinnemahoning, and
the other half when the line from Erie City to Warren shall be in the same
condition. These terms have now been complied with. The $3,500,000
bonds deposited with the State are to be returned on the completion of the
specified portions of the work.
In pressing the work with the activity that characterized the operations of
1859, the company relied upon being able to dispose of the canal bonds at
a price not greatly below par, and, after these should be exhausted, in being
able also to realize from the $3,500,000 of its own bonds. In this expecta-
tion, however, it was to a considerable extent disappointed, and still holds a
large portion (See General Statement) of the canal bonds, the whole of
its own bonds, and about $470,000 of the additional stock required by the
act of 1858, to be expended upon the road. These, with the unissued
remainder of the company's 7 per cent. bonds ($406,000) constitute the
present available means for the payment of its floating liabilities, the further
prosecution of the work, and the purchase of equipment. The total of these
resources amounts at par to $5,936,603. The sum required for the comple-
tion of the road is stated at $2,395,000. The total amount expended in
1859 was about two millions and a-half dollars.
SHARE CAPITAL-Authorized, $7,000,000, in 70,000 $100 shares.
Paid in, - $4,306,000, on 43,899
"
FUNDED DEBT-$4,094,000 classified as follows—
1st Mortgage, 7 per cent., coupon bonds
$594,000
-dated 10th September, 1857, and payable, principal 1st October, 1877, and
interest semi-annually, 1st April and 1st October, in the city of Philadelphia.
The whole provision under this mortgage is $1,000,000, which is secured on
that portion of the road, 40 miles, between Sunbury and Williamsport.
1st Mortgage, 5 per cent., coupon tonds (1st series)
$3,500,000
-dated 19th May, 1858, and payable, principal 31st July 1875, '76 and '77,
in instalments of $1,000,000, and on 31st July, 1878, the remaining $500,000,
and coupons semi-annually, 1st January and 1st July, in the city of Phila-
delphia. This amount is held by the Treasurer of the State of Pennsylvania
in bonds of $100,000 each, and was issued in payment for the State Canals
purchased by the Company.
1st Mortgage, 5 per cent., coupon bonds (2d series)
$
-dated 19th May, 1858, and payable, principal 31st January, 1875, and
coupons semi-annually, 31st January and 31st July, in the city of Philadel-
phia. The total provision for issue is $3,500,000, in bonds of $1,000 each.
No part of the amount has yet been sold.
These two series of bonds are secured by mortgage on the entire road
extending from Sunbury to Erie, 289 miles-the whole provision under the
mortgage being $7,000,000.
FLOATING Девт—$861,271, being temporary loans, secured by the hypothe-
cation of the 2d series of the 1st mortgage bonds of 19th May, 1858.
INCOME.-The income from the operations of the completed sections of the
road is not stated in detail in the company's reports. That section from Erie
to Warren had scarcely been brought into use at the date of the last report.
The Eastern section from Sunbury to Whetham has been operated by con-
necting companies. The whole proceeds, from 1st January, 1858, to date
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PENNSYLVANIA-SUNBURY AND ERIE.
(31st December, 1859), is stated to have been $270,984. which sum is charged
with the cost of maintenance of the road, amounting to $76,016, leaving a
net income of $194,968. The approximate results of the operations for the
several years have been as follows :
Gross
Expenses
Net
Year.
Earnings.
Operating.
Repairs.
Total:
Earnings.
1855
$49,860
$24,930
$12,868
$37,798
$12,062
1856
105,862
52,931
12,460
65,391
40,471
1857
115,000
57,500
11,000
68,500
46,500
1858
126,860
63,430
11,671
75,101
51,759
1859
144,386
72,193
28,017
100,210
44,176
5 years
$541,968
$270,984
$76,016
$347,000
$194,968
Average
108,393
54,197
15,203
69,400
38,993
GENERAL STATEMENT 1ST January, 1860.
Dr.
Cr.
Road construction and superstructure
$5,738,025
Share capital
$4,306,920
Buildings, land and right of way
375,241
Seven per cent bonds issued
594,000
Engineering
280,447
Temporary loan
861,271
Maintenance of way
76,016
Income from road
270,984
Equipment
107,252
Old assets of Company
1,739
Discount on municipal and other bonds
523,134
Proceeds of sale of Del. Div. Canal
1,775,000
Interest on stock bonds
656,735
Proceeds of sale of North Branch and
Interest on temporary loans
241,403
Wyoming Canals
1,600,000
Incidental expenses, salaries, etc.
238,360
Proceeds of sale of West Br. Canal
500,000
Piers at harbor of Erie
91,403
Interest on bonds
199,787
State Treasurer 75 per c. on nominal
Income from Canals
60,168
surplus received from canals
281,250
Balance
1,560,603
Total
$10,169,869
Total
$10,169,869
The balance to credit of the above account ($1,560,603) consists of the
following specifications :
Cash
$14,731
Bills receivable and amounts due by companies
93,472
Bonds of the Wyoming Canal Company
574,000
"
of the North Branch Canal Company
346,000
"
of the West Branch Canal Company
337,000
"
of the City of Erie
7,000
"
of the Quakake Railroad Company
15,000
Stock in Telegraph Company
2,000
In hands of agents and bulances of unsettled accounts
82,686
Coal received for tolls
19,412
Interest due on bonds
69,301
The company hold, therefore, applicable to the payment of the temporary
loans, and to the completion and equipment of the road—
The balance as above
$1,560.603
The unissued bal ince of its 7 per cent. bonds
406,000
One-half of the 5 per cent mortgage bonds secured upon the whole road (the other half
having been paid for the canals)
3,500,000
Instalments on stock (uncalled) about
470,000
Total applicable to loan and construction
$5,936,603
To complete the road the following amounts will be necessary :
Balance unpaid for the completion of the grading and bridging of the Middle Division
(part of which is payable in stock) is
$775,000
Balance for grading and bridging on the Western Division, for work done and to be
done, is estimated at
370,000
Superstructure on 140 miles of road and 10 miles of sidings at $7,000 per mile.
1,050,000
Engineering, station houses and contingencies, say
200,000
Total required to complete the road, etc
$2,395,000
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PENNSYLVANIA-TIOGA.
509
SWATARA RAILROAD.
(Financial year ending 30th November, 1859.)
WILLIAM DONALDSON, President
DONALDSON, Schuylkill Co., Pa.
LENGTH OF ROAD-Union Canal Company's Road to Donaldson
6.00 miles.
Second track, 0.25 mile. Sidings, etc., 1 mile.
Leased Road-Union Canal Railroad
3 50 miles.
Branch of Union Canal Railroad
2.25
$
Sidings on leased road, 0.25 mile.
Two miles additional of the Swatara Railroad are under construction.
ROLLING STOCK-Locomotive engines
2
Cars:-passenger, 1; coal, 168; trucks 3
172
The Swatara Railroad Company was chartered in 1838, and the road com-
pleted in 1844. It is used solely as a coal road and feeder to the Union
Canal; it is also the outlet for the Lorberry Creek Railroad and the Donald-
son Improvement Mines.
SHARE CAPITAL-Paid in, $32,300, in 646 $50 shares.
COST OF ROAD, ETC-Cost of road not stated ; cost of equipment, $41,780.
FUNDED DEBT-
None.
FLOATING DEBT
None.
INCOME ACCOUNT FOR THE YEAR ENDING 30TH NOVEMBER, 1859.
Receipts-
Disbursemente-
Passenger earnings
8346
Operating expenses
$3,093
Freight earnings
812
Roadway
930
Coal freight earnings, etc
12,003
Locomotives and cars.
2,124
Salaries.
3,912
Fuel $800, oil $267, damage 815
1,082
Earnings less expenses
2,020
Total
$13,161
Total
$13,161
TIOGA RAILROAD.
(Financial year ending 30th September, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
Coffin Colket
Philadelphia, Pa.
Robert H. Ryerss
Philadelphia, Pa.
Charles Ellis
"
"
Joseph Swift
"
"
William E. Morris
Brooklyn, N.Y.
Edwin Swift
"
"
George K. Smith
Philadelphia, Pa.
John W. Guernsey
Tioga, Pa.
William Ellis
"
"
Henry L. Gaw
Philadelphia,
"
Edward C. Dale
"
"
J. W. RYERSS, President
Philadelphia, Pa.
ALEXANDER E. DOUGHERTY, Treasurer
"
"
L. H. SHATTUCK, Superintendent
Corning, N.Y.
PRINCIPAL OFFICE
25 Philadelphia Exchange, PHILADELPHIA, Pa.
LENGTH OF ROAD-Morris Run to Lawrenceville (N. Y. State line)
29.61 miles.
Second track, none. Sidings, turnouts, etc., 1.17 mile.
Leased Road-Blossburg and Corning Railroad, of New York.
ROLLING STOcK-Locomotive engines (passenger and freight, 4; coal, 4)
8
Cars :-passenger, 3; freight and baggage, 27 ; coal, about 100
130
The Tioga Navigation Company was chartered on the 12th April, 1828, and
was authorized to construct a railroad, canal, or slack-water navigation, from
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PENNSYLVANIA-TREVORTON.
the coal fields near Blossburg, in Tioga county, to the northern boundary
of the State, a distance of 25.61 miles. The railroad, originally laid with flat
rails, 18 lbs. to the yard, was completed in August, 1840. In 1851 the
company was re-organized-the old 1st mortgage bonds being converted
into a preference stock, and the 2d mortgage bonds and other legal claims
and the old stock into a common stock. The name of the company was
now changed to that of the Tioga Railroad Company, which, in 1852, re-laid
the road with heavy iron, 58 lbs. to the yard. By an act passed in the
same year, the company was authorized to extend the road from Bloss-
burg to Morris' Run, 3.76 miles. For these alterations and additions, and
to provide rolling stock, 7 per cent. mortgage bonds were issued. On the
16th October of the same year, the company took a lease of the Blossburg
and Corning Railroad, of New York, for 10 years, and pay as rent therefor
two-thirds of the gross earnings. For the past three years the company
have been paying dividends at the rate of 6 per cent. on the preferred stock.
SHARE CAPITAL-Authorized, $367,500, in 7,346 $50 shares.
Paid in-Common, $177,600, and preferred, $189,700
FUNDED DEBT-$396,500 described as follows—
1st Mortgage, 7 per cent., coupon bonds
$350,000
-issued in 1852, and payable, principal in 20 years, and interest semi-an-
nually, 1st May and 1st November, in Philadelphia.
2d Mortgage, 7 per cent., tonds
$46,500
-issued in 1853, and payable, principal in 20 years, and interest semi-
annually, 1st May and 1st November, in Philadelphia.
COST OF ROAD AND EQUIPMENT-$788,281, viz road, etc., $703,349, and
equipment, $85,932. In the cost of the road is included the sum total
charged for old road and relaying, etc., and also the stock issued for old
debts and stock, under the act of 1852.
INCOME ACCOUNT FOR THE YEAR ENDING 30 STPTEMBER, 1859.
Receipts-
Disbursements-
Passenger earnings
$6,308
Operating expenses
$6,029
Freight
"
(including coal)
63,556
Repairs of road
8,529
U. S. mail
1,134
Repairs of rolling stock
5,518
Receipts from other sources
11,974
Wood, $1,254; oil and waste, $833
2,087
Deficit
934
Salaries and wages
5,200
Interest, $23,790; Dividends $5,853
29,643
Rents, $26,850; sundries, $50
26,900
Total
$83,906
Total
$83,906
TREVORTON RAILROAD.
(Financial year ending 30th November, 1859.)
JAMES J. DAY, President
Stonington, Ct.
T. L. JOHNSON, Treasurer
New York City, N.Y.
GEORGE MOULTON, Superintendent
Trevorton, Pa.
PRINCIPAL OFFICE
NEW YORK CITY, N.Y.
LENGTH OF RoAD-Trevorton to Susquehanna river
14 50 miles.
Second track, none. Sidings, turnouts. etc., about 5 miles.
ROLLING STOCK-Locomotive engines
3
Cars :-passenger, 1; freight and baggage, 2; coal, 765
768
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PENNSYLVANIA-TYRONE AND LOCK HAVEN.
511
The Trevorton Coal and Railroad Company was chartered in 1850, and its road
opened in 1854. In 1859, the company failed, and the road is about to be
sold with a view to re-organizing a new company.
SHARE CAPITAL-Subscribed $792,000, in 7,920 $100 shares.
Paid in - $792,000, on
"
"
FUNDED DEBT-$840,000: described as follows—
1st Mortgage, 7 per cent., coupon bonds
$840,000
-dated 1st December, 1856, and payable, principal in 15 years, and coupons
semi-annually, 1st June and 1st December, in New York City. The coupons
-due on the 1st December, 1859, and 1st June, 1860, are unpaid.
FLOATING DEBT-About $40,000.
COST OF ROAD AND EQUIPMENT-$792,000. No detail.
The total quantity of coal transported on the road in 1856 was 73,112, in
1857 110,711, in 1858 106,676 and in 1859 124,223 gross tons.
TYRONE AND CLEARFIELD RAILROAD.
(Statement furnished 2d July, 1860.)
BOARD OF DIRECTORS AND OFFICERS, 1860.
James T. Hale.
H. H. Shillingford.
Josiah W. Smith.
C. R. Foster.
John Derbyshire.
J. E. Addick.
H. J. Lombaert.
Stephen Coulter.
S. R. Ashton.
R. C. Hall.
Thomas A. Scott.
Jonathan Boynton.
A. G. CURTIN, President
BELLEFONTE, Pa.
LENGTH OF LINE-Tyrone to Clearfield Centre Co.
36 miles.
The Tyrone and Clearfield Railroad Company was chartered in 1853. Con-
struction was commenced on the 28th April, 1856, on that part of the line
between Tyrone and Phillipsburg, 22 miles. No part is yet open. Share capi-
tal paid in, $175,000; mortgage debt, $225,000.
TYRONE AND LOCK HAVEN RAILROAD.
EDMUND BLANCHER, President
Tyrone, Pa.
J. M'MINN WILLIAMS, Chief Engineer
Williamsport., "
LENGTH OF LINE-Tyrone to Lock Haven
53 miles.
The Tyrone and Lock Haven Railroad Company was chartered in 1853. The
construction of the road was commenced in 1857, and a large portion of the
graduation has been completed, but no part of the road opened. with the
exception of about five miles of the south western end, operated by the
Tyrone and Clearfield company, and a short section of about two miles, near
Bellefonte, used by the Bellefonte and Snow-Shoe Railroad Company.
SHARE CAPITAL-Subscribed, $337,000 in $50 shares.
FUNDED DEBT-$500,000 described as follows-
1st Mortgage, 6 per cent., coupon bonds
$500,000
-dated 8th March, 1859, and payable, principal in 20 years, and coupons
semi-annually, 1st May and 1st November, in the city of Philadelphia.
ESTIMATED COST OF RoAD-$822,000. No detail.
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PENNSYLVANIA-WESTCHESTER
VENANGO RAILROAD.
LENGTH OF RoAD-Ridgway to State Line of Ohio
125 miles.
This road has been projected as an arm of the Sunbury and Erie Railroad,
wherewith to reach by a direct route, and in connection with any railroad
that may be built in Ohio, the North West beyond that State. The Venango
Company was chartered by an act of the Pennsylvania Legislature, passed
on the 15th March, 1853. During the following summer a recognoisance of
the route was made. The grades are remarkably favorable, not exceeding
forty feet per mile, except in two instances, and in these cases for a few miles
only, never exceeding fifty-three feet per mile. The line forms a link of
almost an air line between New York and Chicago, and shows a great saving
of distance when compared with the parallel lines in the State of New York.
Nothing, however, has yet been done towards the construction of the pro-
posed road; but it is probable that on the completion of the Sunbury and Erie
Railroad, which is already open through two-thirds of its entire length, active
measures will be taken to ensure its completion within a reasonable time.
WESTCHESTER RAILROAD.
(Financial year ending 30th September, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1860.
Philip P. Sharples
Westchester, Pa.
Joseph Hemphill
Westchester, Pa.
Washington Townsend
"
"
Joseph B. Townsend
Philadelphia, "
John Marshall
"
"
Edward Hooper
"
"
ISAAC THOMAS, President
Westchester, Pa.
THOMAS H. HALL, Treasurer and Secretary
"
"
PRINCIPAL OFFICE
WESTCHESTER, Chester Co., Pa
LENGTH OF RoAD-Westchester to Junction (23 miles W. Philadelphia).
9 miles
Branch (abandoned), 1.25 miles. Sidings, 0.50 mile.
ROLLING STOCK
Supplied by Pennsylvania Railroad Company
The Westchester Railroad Company was chartered on the 18th February.
1831. Construction was commenced in May, 1831, and the road completed,
and brought into use on the 13th September, 1832. On the 1st April, 1859,
the road was leased to the Pennsylvania Railroad Company, which pays for
its use certain rates on passengers and freight. No statement of the yearly
earnings or expenses is obtainable.
SHARE CAPITAL-Authorized, $165,000, in 3,300 $50 shares.
Paid in, - $120,909, on 3,296 "
"
FUNDED DEBT-$13,333, being a ground rent.
FLOATING DEBT-None.
COST OF ROAD AND APPURTENANCES-$106,888, viz: Main road, $90,288;
branch road, $9,089, and equipment, $6,611.
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PENNSYLVANIA-WESTCHESTER AND PHILADELPHIA.
513
WESTCHESTER AND PHILADELPHIA RAILROAD.
(Financial year ending 31st December, 1859.)
OFFICERS OF THE COMPANY, 1860.
A. R. McHENRY, President
Philadelphia, Pa.
WILLIAM McCULLOCH, Treasurer
"
"
HENRY Wood, General Superintendent
"
"
PRINCIPAL OFFICE
PHILADELPHIA, Pa.
LENGTH OF RoAD-Philadelphia to Westchester
26.38 miles.
Second track, none. Sidings, turnouts, etc., 2.09 miles.
ROLLING STOCK-Locomotive engines
4
Cars (8-wheel) :-passenger, 11; baggage, 2; freight, 7; platform, 4
24
" (4-wheel) :-freight, 1; platform, 12.
13
The Westchester and Philadelphia Railroad Company was organized in Jan-
uary, 1851, under a charter granted on the 11th April, 1848. In 1852 the
whole road was placed under contract That section from Philadelphia to
Kellyville, 61 miles, was finished on the 15th November, 1853, and that to
Media in November, 1854. In the same month the work was suspended, and
little was done towards construction up to April, 1856, on the 1st of which
month the interest on the 10 per cent. bonds became due, and which the
Company was unable to pay. In consequence of this default, the road and
franchise were assigned on the 26th to the trustees under the mortgages who
managed the affairs of the Company until the 9th November, 1858, and, hav-
ing by that date liquidated all outstanding liabilities, again resigned the trust
to the Company. In August, 1856, and during their management, the road
was opened to Grubb's Bridge, the point whence the Baltimore and Phila-
delphia railroad diverges, 17 miles from Philadelphia. On the 26th July,
1858, a new contract was given out for the completion of the road to West-
chester, and three days after the work was re-commenced, and the whole
finished and opened to the public on the 11th November of the same year.
SHARE CAPITAL-Ordinary, $2,000,000; preferred, $400,000, in $50 shares.
Paid in,
"
$393,205;
"
$289,600,
"
"
The preferred stock, which was issued under an act passed 27th February,
1854, calls for 8 per cent. per annum, payable out of net profits.
FUNDED DEBT-$944,828: classified as follows—
1st Mortgage, 7 per cent., coupon bonds (incl. coupons overdue, $5,521) $394,721
-dated 25th February, 1853, and payable, principal 1st January, 1873, and
coupons semi-annually, 1st January and 1st July, in the city of Philadelphia.
These bonds are convertible into stock within 10 years from date.
2d Mortgage, 10 per cent., coupon bonds (incl. coupons overdue, $8,225) $27,825
-dated 1st April, 1854, and payable, principal in five years, and coupons
semi-annually, 1st April and 1st September, in Philadelphia.
3d Mortgage, 8 per cent., coupon bonds (incl. coupons overdue, $1,076)$522,282
-dated 7th July, 1857, and payable, principal, 1st July, 1867, and coupons
semi-annually, 1st January and 1st July, in Philadelphia.
FLOATING DEBT-$48,723.
Cost OF ROAD AND EQUIPMENT-$1,369,272, viz: on account of Construction
$1,295,617, and of Equipment $73,655.
56
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PENNSYLVANIA-WESTCHESTER AND PHILADELPHIA.
INCOME ACCOUNT FOR THE YEAR ENDING 31st DECEMBER, 1859.
Receipts-
Disbursements-
Passenger earnings
$90,936
Transportation expenses
$27,851
Freight
"
35,750
Maintenance of way
16,208
Mail
"
1,223
"
of cars.
5,865
Incidental receipts
885
"
of motive power
30,082
Salaries, sundries, etc
5,885
Income less expenses
42,903
Total
$128,794
Total
$128,794
PROFIT AND Loss ACCOUNT FOR THE YEAR ENDING 31sT DECEMBER, 1859.
Dr.
or
Balance from earnings
$42,903
Construction and Equipment
$37,640
Share capital
9,920
Interest
34,565
8 per cent. bonds
21,300
10 per cent. bonds converted
100
7 per cent. bonds
1,200
Old debts paid
30,792
Bills payable
12,880
Carried to sinking fund
428
Sundries
15,827
Cash on hand
409
Balance from 1858
204
Total
$104,234
Total
$104,234
GENERAL STATEMENT, 1ST JANUARY, 1860.
Dr.
Cr.
Construction
$1,295,617
Share capital-common
$393,205
Equipment
73,655
"
preferred
289,600
Ten per cent. bonds
256,400
Seven per cent. bonds
$389,200
Interest 7 per cent. bonds
150,168
Ten
"
"
276,000
Interest 10 per cent. bonds
107,822
Eight
"
"
521,206--1,186,406
Interest 8 per cent. bonds
20,302
Interest, etc., on capital stock
4,782
Interest account
6,139
Passenger earning--
Depreciation of 7 per cent. bonds sold
Prior to 25th April, 1856
$42,610
prior to January, 1854
50,170
Under Trustees & Assignees 106,028
Interest to stockholders
27,593
Since 9th November, 1858 100,434- 249,072
Commissions, etc., of Trustees and As-
Freight earnings-
signees
15,844
Prior to 25th April, 1856
$9,225
Council fees
4,685
Under Trustees, etc
35,763
Land and ground rents
12,688
Since 8th November, 1858,
Sundry costs, fees, etc., of Trustees
(including mail, $1,223
41,356-
86,344
and Assignees, etc
536
Incidental receipts.
2,624
Running expenses—
Sundry creditors per new books
43,940
Prior to 25th April, 1856
$29,901
Under Trustees & Assignees. 113,181
Since 9th November, 1858 88,485
Old debt chargeable to.
649- 232,216
Sundries $1,727, cash $409
2,136
Total
$2,255,974
Total
$2,255,974
No material is obtainable for the compilation of the usual table of cost,
earnings, etc., yearly. The general statement for 1859 contains the earnings
and expenses in gross, and another statement gives the earnings alone for the
several years since the first opening of the road. The latter is as follows :
Year.
Passengers.
Freight.
Total.
Year.
Passengers.
Freight.
Total
1854
$2,543
8
$2,543
1857
$40,807
$14,529
$55,336
1855
34,068
7,526
41,594
1858
44,434
19,185
63,619
1856
36,008
10,582
.46,590
1859
90,936
36,390
127,326
The total receipts and expenses as shown in the general statement supplies
the following results :
Passenger earnings
$249,072
Operating expenses
$232,216
Freight
"
85,121
Earnings less expenses
105,824
Mail, incidental and miscellaneous.
3,847
Total
$338,040
Total
$338,040
Digitized by
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PENNSYLVANIA-WILLIAMSPORT AND ELMIRA.
515
WILLIAMSPORT AND ELMIRA RAILROAD.
(Financial year ending 31st March, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
Samuel V. Merrick
Philadelphia, Pa.
Robert J. Mercer
Philadelphia, Pa.
Israel Morris
"
"
W. D. Lewis
"
"
Joseph S. Perot
"
"
Alexander S. Diven
"
"
THOMAS KIMBER, Jr., President
Philadelphia, Pa.
WILLIAM C. LONGSTRETH, Treasurer and Secretary
"
"
J. A. REDFIELD, Superintendent.
Elmira, N.Y.
PRINCIPAL OFFICE
PHILADELPHIA, Pa.
LENGTH OF RoAD-Williamsport, Pa., to Elmira, N.Y
78 miles.
Second track, none. Sidings, turnouts, etc., about 5 miles.
ROLLING STOCK
Leased from the chattel mortgage bonds holders.
The Williamsport and Elmira Railroad Company was chartered in Pennsyl-
vania on the 9th June, 1832, and was authorized to construct a railroad
commencing at Williamsport, and thence by way of Lycoming Creek to the
north line of the State in direction of Elmira, New York. The work of con-
struction was commenced in 1834 and completed to Rulston in 1838. The
road was operated for some years without profit. In 1849 it was sold on
behalf of its creditors, and a new company organized, which resumed the
construction of the road northward, and completed the same to Elmira on
the 9th September, 1854. The chartered rights of the Company in the State
of New York were derived from an act of its Legislature, passed in 1850.
SHARE CAPITAL-Authorized, $1,500,000, in 30,000 $50 shares.
Paid in, - $1,500,000, on 30,000
"
1
FUNDED DEBT-$2,361,972; classified as follows-
1st Mortgage, 7 per cent., coupons bonds
$1,000,000
-dated 1st July, 1851, and payable, principal 1st July, 1861, and coupons
semi-annually, 1st January and 1st July, in Philadelphia. Secured on road
and appurtenances.
2d Mortgage, 7 per cent., coupon bonds
$700,000
-dated 31st May, 1854, and payable, principal 1st April, 1879, and coupons
semi-annually, 1st April and 1st October, in Philadelphia. Secured on road
and appurtenances.
Chattel Mortgage, 10 per cent., bonds
$495,000
-dated 31st March, 1857, and payable, principal 1st April, 1887, and interest
semi-annually, 1st May and 1st November, in Philadelphia.
Ten per cent. tonds
$11,000
INCOME ACCOUNT FOR THE YEAR ENDING 31sr MARCH, 1859.
Receipts-
Disbursements-
Passenger earnings
$61,788
Operating expenses and repairs.
$95,662
Freight
"
112,741
Coupons, 1st mortgage bonds
$37,730
Other receipts
17,441
"
2d
"
"
700
Profits on repairs done for other compa-
"
Chattel "
"
12,042-
59,452
nies.
3,885
Interest unfunded
12,599
One-half President's salary paid by
Salaries and office expenses
10,937
Cata., W'msport and Erie RR. Co
2,500
Insurance.
2,109
Sundries
698
Balance to credit of construction account 25,878
Total
$198,355
Total
$198,355
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516
PENNSYLVANIA-WILLIAMSPORT AND ELMIRA.
COST OF ROAD AND EQUIPMENT-$4,031,582: in detail as follows:
Road and appurtenances
$3,482,374
Williamsport shop
$43,462
Elmira Basin property
80,317
Locomotive engines
150,316
Williamsport Basin property
44,529
Passenger and freight cars
230,532
GENERAL STATEMENT 1ST APRIL, 1859.
Dr.
Cr.
Construction account
$3,482,374
Capital stock
$1,500,000
Elmira basin property
80,317
First mortgage bonds
1,000,000
Williamsport basin property
44,529
Second
700,000
Williamsport shop
43,562
Chattel
"
495,000
Locomotive engines
150,316
Ten per cent. bonds
14,000
Cars
230,532
First mortgage scrip.
60,715
Cash on hand
2,513
Second
"
45,805
Freight and toll bills due the company
3,981
Chattel
"
49,452
Stock and bonds
41,615
Bills payable
161,272
Telegraph and patent rights
9,220
Due bills for labor
17,573
Materials on hand
21,416
Loans
78,246
Debts due the company.
32,552
Pay-rolls and vouchers
21,945
Discount on sale of bonds
5,361
Debts due by the company
7,912
Philadelphia office furniture
681
Total
$4,148,920
Total
$4,148,920
COST, EARNINGS, EXPENSES, ETC., YEARLY.
Cost of
Mile-
Gross Earnings
Operating
Net
Year.
Road,
age.
Pass'rs.
Freight.
Mails.
Total.
Expenses.
Earn's.
-Div.-
1855-'56
$3,464,454
78.00
$75,024
$183,253
$16,278
$274,555
$117,095
$157,460
nil.
nil.
1856-'57
3,464,454
78.00
75,024
183,253
16,278
274,555
117,095
157,460
"
"
1857-'58
3,859,195
78.00
64,449
145,467
18,603
228,519
108,452
120,067
"
"
1858-'59
4,031,582
78.00
61.788
112,741
17,441
191,970
95,662
96,308
"
"
1859 '60
4,031,582
78.00
61.788
112,741
17,441
191,970
95,662
96,308
"
"
5 years
$18,853,264
390.00
$338,073
$737,455
$86,041
$1,161,569
$533,966
$627,603
"
"
Average
3,770,653
78.00
67,614
147,491
17,208
232,314
106,793
125,521
"
"
NOTE-The report of the company for 1856 contained no statement of earnings; those of 1857
are adopted from that year. No report has been made for the year ending 31st March, 1860; these
for the previous years are consequently adopted.
Since the date of the report of 1859, to which this statement refers, the
affairs of the Company have been re-organized. In consequence of default
in the payment of interest, proceedings were instituted for the foreclosure of
mortgages which resulted in a decree, dated 29th February, 1860, for the
sale of the road. The sale was subsequently made with the consent of the
various parties interested, who had previously agreed upon a plan of re-
organization, based on a capital of $2,000,000, as follows:
New Mortgage, 7 per cent., bonds, (in exchange for old bonds) dated 1st May, 1860, and
payable, principal 1st Jan, 1880 and coupons semi-annually, 1st January and 1st July$1,000,000
Preferred, 7 per cent., stock issued—
1st. For confidential debt
8150,000
2d. For 2d mortgnge bonds $700,000 (one-half)
350,000-
500 000
Common stock issued—
1st. For unsecured debt
$100,000
2d. For old common stock (one-fifth)
300,000
3d. For mortgage coupons.
100,000-
500,000
The chattel mortgage was satisfied by an agreement to surrender the
equipment to the Company, and receive therefor the sum of $20,000 annually,
to be increased to $30,000 when the revenues of the road should allow it.
WRIGHTSVILLE, YORK AND GETTYSBURG RAILROAD.
LENGTH OF Road-York to Wrightsville about
13 miles.
Second track. including sidings, turnouts, etc., about 2 miles.
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PENNSYLVANIA-WRIGHTSVILLE, YORK AND GETTYSBURG.
517
ROLLING STOCK
Supplied by the Northern Central Railroad Company.
The Wrightsville, York and Gettysburg Railroad Company was chartered in
1835, and the road completed and opened for public use in April, 1840.
From the latter date it has been operated by the Baltimore and Susquehanna
Company and its successor the Northern Central. Two contracts have been
made with the latter. On the 21st June, 1854, the Northern Central Com-
pany agreed to operate the road with its own engines and cars, and pay from
the gross earnings the interest on the bonds and a small dividend on the
capital stock, and appropriate a sum equal to the whole sum paid in dividends
to the sinking fund, the balance, if any, to accrue to its own credit. On the
15th September, 1859, a new contract, (to take effect on the 1st October,
1859, and to determine on the 31st December, 1864,) was made whereby the
Northern Central Company agreed to receive all the revenues and to pay all
the expenses for repairs and operating, charging for the use of its cars 40
cents per mile run by trains, and from the net revenue the interest on the
bonds and floating debt, and $1 on each share annually. Any remainder, but
not exceeding a sum equal to $1 per share of the capital stock, to be applied
to the sinking fund and invested, first in the bonds and secondly in the float-
ing debt of the Company, and in case of there being any further remainder,
one-half to be added to the dividend and one-half to the sinking fund.
SHARE CAPITAL-Authorized, $1,500,000, in 30,000. $50 shares.
Paid in, - 317,050, in 6,341
"
FUNDED DEBT-$52,000; described as follows—
1st Mortgage, 7 per cent., coupon bonds
$52,000
-dated 15th November, 1847, and payable, principal 15th November, 1867,
and interest quarterly, 15th February, May, August, and November, at Bal-
timore. These bonds were issued for debt to the late Baltimore and Sus-
quehanna Railroad Company. The original amount was $100,000. On the
15th September, 1869, the sinking fund amounted to $48,517, of which
$48,000 was invested in the bonds (since cancelled and destroyed), and the
uninvested $517 was credited under the contract of this date to the debt of
the Company.
FLOATING DEBT-$30,996; debt due to the N. C. Company.
CosT OF ROAD AND APPURTENANCEs-$100,046.
INCOME ACCOUNT FOR THE YEAR ENDING 31sT DECEMBER, 1859.
Receipts-
Disbursements-
Jan-Sept.
Oct.-Dec.
Total.
Accounted for to 30th Sept., 1859
$20,501
Passengers
$7,266
$2,523
$9,819
Under new contract-
Freight
12,747
1,485
16,232
6,584 miles run by trains at 40c. $2,634
Mail
488
162
650
Repairs of road
3,967
Salaries of Pres., Treas. and Sec,
$20,501
$6,199
26,70!
$100 a year each
75
Deficit
477-
6,679
6,676
Total
$27,177
Total
$27,177
GENERAL STATEMENT, 1ST JANUARY, 1860.
Dr.
Cr.
Cost of road and real estate, etc
$400,046
Share capital
$317,050
Bonds
52,000
Debt
30,990
Total
$400,046
Total
$400,046
Digitized by Google
518
PENNSYLVANIA-YORK AND MARYLAND LINE.
COST, EARNINGS, EXPENSES, ETC., YEARLY.
(Under the contract of 21st June, 1854.)
Cost of Mile-
Gross Earnings
Oper'g
Earn'gs,
Int. Paid to
Div
Year.
Road,
etc.
age.
Pass'r. Freight. Mails. Total.
exp.
lessexp.
on d'bt. S.F.
$
p.e
1855
$415,537
13.00
$12,892
$22,066
$650
$35,608
$17,586
$18,022
$7,341
$5,073
$5,073
1.60
1856
412,188
13.00
11,595
23,334
650
35,579
12,610
22,969
8,106
5,707
5,707
1.80
1857
405,751
13.00
10,281
25,375
650
36,206
14,393
21,813
8,141
6,341
6,341
2.00
1858
396,046
13.00
9,744
19,551
650
29,945
14,000
15,945
7,086
6,975
6,975
2.20
1859
400,046
13.00
9,534
16,972
650
27,156
14,000
13,156
7,435
7,926
7,926
2.50
5
yrs.
2,029,568
65.00
54,046
107,298
3,250
164,594
72,589
92,005
38,109
32,022
32,022
10.10
Aver.
405.913
13.00
10,809
21,459
650
32,918
14,517
18,401
7,622
6,404
6,404
2.02
YORK AND CUMBERLAND RAILROAD.
(Now a portion of the Northern Central Railroad.)
LENGTH OF Road-York to Bridgeport
27 miles.
The York and Cumberland Railroad Company was chartered 21st April,
1846, and was first organized on the 22d September, 1848. Construction
was commenced in the spring of 1849; track laying in May, 1850, and the
road was opened for business in February, 1851. A permanent contract
had been previously made with the Baltimore and Susquehanna Company
for operating the road, and from its completion it was run as a part of the
railroad of that Company. On the 4th December, 1854, it entered into the
consolidation with the other companies now constituting the Northern Cen-
tral Railroad Company. On the 30th September, 1854, its general account
was as follows:
Cr.
Dr.
Share capital
$530,000
Cost of road
$735.750
Funded debt
700,000
Loaned to Susquehanna RR. Co
500,000
Raised from income
5,750
Total
$1,235,750
Total
$1,235,750
Of the funded debt of the Company $500,000 was guaranteed by the city
of Baltimore and loaned to the Susquehanna Company. The remainder was
a loan to complete the York and Cumberland Railroad, and secured by a
first mortgage on that road.
YORK AND MARYLAND LINE RAILROAD.
(Now a portion of the Northern Central Railroad.)
LENGTH OF RoAD-York to Maryland State Line
22 miles.
The York and Maryland Line Railroad Company was chartered on the 14th
March, 1832, with a capital of $500,000. The road was built and wholly
owned by the Baltimore and Susquehanna Company, and the Pennsylvania
Company, preserving only the form of a separate corporation, was for all
practical purpose a part of the Maryland organization. The cost of the
road and also its earnings, etc., are included in those of main road. It was
completed and opened for business in August, 1838. On joining the con-
solidation in 1854 its value was estimated in stock at $1,060,000.-(Ses
Northern Central Railroad.)
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LAWS OF THE STATE IN REFERENCE TO RAILROADS.
List of all the Railroad Companies chartered in the State of Pennsylva-
nia, with the dates of the Acts of their incorporation; and also the dates and
abstracts of all laws passed by the Legislature in reference thereto.
The asterisk [*] prefixed signifies that the work of construction has not been commenced.
Corporate Titles.
Laws.
Abstracts of Laws.
*ADAMS COUNTY
1832, p. 294
Act of incorporation, April 6.
ALLEGHENY VALLEY
1851, p. 412
Act of incorporation, April 14.
"
"
1857, p. -
Authorised to issue preferred stock, April 22.
*ALLEGHENY & BALD EAGLE
1839, p. 285
Act of incorporation June 12.
"
"
"
"
1848, p. 497
Time extended for completion, April 11.
"
"
"
"
1854, p. 710
Time extended for commencing work, May 15.
"
"
"
"
1855, p. 739
Time extended for commencing work, May 2.
"
"
"
"
1859, p. 344
Name changed to Bellefonte and Snowshoe,
March 24.
*ALLEGHENY CITY & FREEPORT
1854, p. 493
Supplement to act of incorporation, April 26.
"
"
1854, p. 55
Authorized to extend road, May 4.
*ALLEGHENY RR. & COAL
1854, p. 466
Act of incorporation, April 21.
"
"
1854, p. 450
Road made a public highway, April 21.
"
"
1855, p. 115
Authorized to sell stock, March 22.
"
"
1859, p. 254
Supplement to act of incorporation, March 26
ALLENTOWN
1853, p. 844
Act of incorporation, April 19.
"
1853, p. 610
Repeals part of act of incorporation, April 20
"
1854, p. 334
Supplement to act of incorporation, April 19.
"
1854, p. 647
Relative to damages, May 8.
"
1855, p.
Time for completing road extended, Feb. 27.
"
1857, p. 349
Authorised to borrow money, April 28.
*ATHENS & ITHACA
1838, p. 85
Act of incorporation, March 17.
"
"
1842, p. 314
Authorized to receive toll, July 8.
"
"
1853, p. 510
Time for commencing work extended, Apl. 18.
ATLANTIC & GREAT WESTERN
1858, p. 300
Name changed from 6. Meadville," April 15.
*ATTLEBOROUGH
1856, p. 366
Act of incorporation April 15.
*AUBURN & PORT CLINTON
1854, p. 665
Act of incorporation, March 13.
*BALD EAGLE & NETTANY VALLEY
1831, p. 271
Act of incorporation, March 30
"
"
6.
1832, p. 98
Extension of road authorized, February 23.
BALTIMORE & OHIO RR., MD
1828, p. 123
May build road through Pennsylvania, Feb. 27.
60
"
1836, p. 849
Relative to rates of toll, June 15.
"
"
1839, p. 355
Supplement to act of Feb. 27, 1828, June 20.
"
"
1846, p. 448
Right of way granted, April 21.
BALTIMORE & SUSQUEHANNA, MD
1839, p. 642
Authorized to make a loan to Wrightsville,
York and Gettysburg Railroad, Feb. 27.
"
"
1848, p. 636
Authorized to equalize tolls, June 11.
"
"
1854, p. 537
Act of consolidation, May 3.
"
"
1854, p. 540
Explanatory of act of consolidation, May 3.
"
"
1855, p. 620
Explanatory of act of consolidation, May 8.
"BEALLSVILLE & WAYNESBURG
1853, p. 413
Act of incorporation, April 14.
*BEAR MOUNTAINS
1842, p. -
Act of incorporation, July 13.
"
"
1843, p. 11
Branch roads authorized, February 4
"
"
1844, p. 168
Capital increased, March 29.
"
"
1845, p. 216
Supplement to act incorporating, March 27
"
"
1846, p. 387
Time extended for completion, March 28.
"
"
1851, p. 569
Supplement to act incorporating. April 14.
"
"
1859, p. 753
Time extended for completion, April 14.
BEAVER MEADOW RR. & COAL
1830, p. 392
Act of incorporation, April 7
"
"
"
1831, p. 494
Extension of road authorized, April 4.
"
"
"
1833, p. 18
Supplement to act of incorporation, Jan. 29.
"
"
"
1835, p. -
Supplement to act of incorporation, April 15.
"
"
"
1837, p. -
Supplement to act of incorporation, Jan. 3.
"
K
"
1848, p. 62
Supplement to act of incorporation, Feb. 1S.
519
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520
PENNSYLVANIA-RAILROAD LAWS.
Corporate Titles.
Laws.
Abstract of Laws.
BEAVER MEADOW RR. & COAL
1849, p. 185
Supplement to act of incorporation, March 29.
"
"
"
1850, p. 129
Supplement to act of incorporation, March 4.
"
"
1:
1851, p. 330
Additional powers granted, April 3.
"
"
"
1853, p. 186
Supplement to act of incorporation, March 15.
"
"
"
1854, p. 218
Relative to rates of tonnage, March 29.
"
"
"
1857, p. 189
Authorized to extend its road, April 15.
BEAVER & CONNEAUT
1836, p. 260
Act of incorporation, March 31.
BEDFORD
1858, p. 800
Laws of 1859, act of incorporation, Mch. 19.
"
1859, p.
5
Supplement to act of incorporation, Jan. 20.
*BEDFORD MINERAL SPRING
1845, p 285
Act of incorporation, April 20.
BELLEFONTE & SNOW-SHOE
1859, P. 344
Name changed from Allegheny and Bald
Eagle Railroad, Coal and Iron Co., Mch. 24.
*BLOOMABURG
1839, p. 384
Act of incorporation, June 22.
"
1845, p. 438
Authorized to extend road, April 14.
"
1846, p. 346
Authorized to subscribe forstock, April 16.
"
1850, p. 614
Authorized to subscribe for stock, April 20.
*BRADFORD RR. & COAL
1840, p. 56
Act of incorporation, May 28.
"
"
1849, p. -
Supplement to act of incorporation, March 24
"
"
1857, p. 667
Supplement to act of incorporation, May 6.
"
"
1857, p. 668
Relative to charter, May 20.
"
"
1859, p. 611
Supplement to act incorporating, April 13.
BRANDYWINE
1854, p. -
Act of incorporation, March 23.
*BRISTOL & NEWTOWN
1836, p. 157
Act of incorporation, March 26.
*BROAD MOUNTAIN IMPROVEMENT
1853, p. -
Act of incorporation, April 18.
"
.6
"
1855, p. 72
Supplement to act of incorporation, Mch. 13.
*BUFFALO & BRADFORD
1856, p. 152
Act of incorporation, March 14.
"
"
1857, p. 509
Authorized to hold lands, May 14.
"
"
1857, p. 628
Authorized to borrow money, May 20.
"
"
1859, p. 115
Supplement to act of incorporation, March, 8.
"
"
1857, P 596
Authorized to consolidate with the Bnffalo and
Pittsburg Railroad Company, May 20.
*CANTON & ATHENS
1853, p. 493
Supplement to act of incorporation, April 18.
"
"
1854, p. 105
Authorising an extension, February 27.
CATAWISSA, WILLIAMSPORT & ERIE
1850, P. 614
Authorized to extend road, April 26.
"
"
"
1851, p. 429
Supplement to act incorporating, April 12.
"
"
"
1852, P 326
Supplement to charter, April 12.
"
"
"
1853, p. 609
Milton RR. may subscribe stock, April 20.
"
"
"
1853, p. 285
Authorised to purchase land, April 2.
"
"
"
1853, p. 101
Supplement to act incorporating, Feb. 23.
"
"
"
1856, p. 237
Authorized to mortgage rolling stock, Apr. 2.
"CATAWISSA & TONAWANDA
1836, p. 462
Act of incorporation, April 1.
"
"
1852, p. 35
Supplement to act of incorporation, Feb. 6.
"
"
1859, p. 525
Supplement to act of incorporation, March 21.
CATASAUQUA & FOGELSVILLE
1854, p. 688
Laws of 1855, act of incorporation, April 20.
*CENTRAL COAL RR.
1853, p. 272
Act of incorporation, April 2.
CENTRAL PASSENGER RAILWAY
1858, p. 399
Act of incorporation, April 21.
CHAMBERSBURG & HAGERSTOWN
1853, P 20
Relative to its bonds, January 28.
CHAMBERSBURG, GREENCASTLE & HA-
GERSTOWN
1853, p. 200
Act of incorporation, March 17.
"
"
"
1854, p. 366
Relative to preferred stock, March 13.
"
"
"
1855, p. 533
Relative to preferred stock, February 27.
"
"
"
1857, p. 619
Laws of 1858, May 12.
"
"
"
1859, p. 20
Name re-changed to Franklin RR., Feb. 2.
"CHAMBERSBURG & LOUDON
1836, p. 362
Act of incorporation, April 1.
CHARTIERS VALLEY
1853, p. 42
Act of incorporation, February 7.
"
"
1853, p. -
Authorized to make branch road, April 18.
"
"
1855, p. 262
Authorized to borrow money, April 18.
"
"
1857, p. 63
Supplement to act incorporating, Feb. 23.
CHARTIERS VALLEY & HEMPFIELD
1859, p. 490
Authorised to lease several roads, April 11.
*CHESTER CREEK
1850, p. 806
Auditor may settle certain claims, April 15.
*CHESTER & DELAWARE COUNTY
1836, p. 234
Act of incorporation, March 30.
CHESTNUT HILL
1848, p. 785
Laws of 1852, act of incorporation, April 10.
"
"
1852, p. 509
Authorized to extend road, May 1.
"
"
1859, p. 292
Authorized to sell real estate, April 29.
CHESTNUT HILL & CHELTENHAM
1858, p. 503
Act of incorporation, April 21.
"
"
"
1859, p. 371
Supplement to act of incorporation, April 5.
CHESTER, LEIPERVILLE & DARBY
1859, p. 697
Act of incorporation, April 12.
CHESTER VALLEY
1850, p. 546
Act of incorporation, April 22.
Digitized by
Google
PENNSYLVANIA-RAILROAD LAWS.
521
Corporate Titles.
Laws.
Abstract of Laws.
CHESTER VALLEY
1851, p. 418
Construing act of 1850, April 12.
"
"
1852, p. 79
Authorized to extend road, February 24.
"
"
1852, p. 383
Constructive of 3d sec. of act of 1850, Apr. 21
"
"
1852, p. 515
Relative to report of receivers, May 3.
"
"
1853, p. 707
Revising charter, March 23.
"
"
1854, p. 147
Revising charter, March 3.
*CITIZENS' PASSENGER (PITTSBURG)
1859, p. 203
Act of incorporation, March 22.
CITIZENS' PASSENGER (PHILADA)
1858, p. 166
Act of incorporation, March 25.
CLEVELAND & MAHONING
1853, p. 66
Act of incorporation, February 11.
"
1853, p. 493
Relative to subscription, April 18.
CLEVELAND & PITTSBURG
1850. p. 417
Authorized to extend road into Penn., April 8
"
"
1853, p. 473
Incorporated by State of Penn, April 18.
"
"
1853, p. 335
Relative to subscription of stock, April 7.
"
"
1855, p. 63
Authorized to sell bonds, March 2.
CLEVELAND, PAINESVILLE & ASHTA-
BULA
1954, p. 588
Authorized to extend road into Penn., May 5.
COAL RUN IMPROVEMENT
1855, p. 399
Name changed to New York and Middle Coal
Field Railroad and Coal, May 2.
COLEBROOK DALE
1853, p. 720
Act of incorporation, April 15.
COLUMBIA COAL & IRON
1858, p. 338
May consolidate with McCauley's Mountain
Railroad, April 19.
*COLUMBIA, CHIQUES & MARIETTA
1836, p. 49
Act to change location, February 26.
*COLUMBIA & MARYLAND LINE
1837, p. -
Act of incorporation, April 4.
"
"
"
1839, p. 394
Time of completion extended, June 22.
COLUMBIA, MARIETTA & P'TSMOUTH.
1841, p. 369
Supplement to act incorporating, May 17.
"
"
"
1846, p. 386
Time extended for completion, March 9.
"
"
"
1849, p. 19
May sell claim of the Harrisburg, Portsmouth,
Mt. Joy and Lancaster RR. Co., Jan. 26.
*COLUMBIA & OCTORARA
1853, p. 820
Act of incorporation, April 18.
"
"
1856, p 766
Extends time for completion, March 29.
"
.1
1859, p. 754
Extends time for commencing, January 20.
"CORNWALL & PHONIXVILLE
1852, p. 393
Act of incorporation, April 21.
"
"
1855, p. 584
Time for completion extended, April 23.
COUDERSPORT, PORTAGE & ALLEGHE-
NY RIVER
1851, p. 700
Laws of 1857, act of incorporation, April 12.
"
"
"
1856, p. 750
Authorized to build road, February 4.
"
"
"
1857, p. 627
Relative to extension of road, May 20.
.6
"
"
1859, p. 341
Time of commencing extended, March 31.
COUNCIL RIDGE & WHITE HAVEN
1859, p. 126
Act of incorporation, March 10.
CUMBERLAND VALLEY
1831, p. 573
Act of incorporation, April 2.
"
"
1835, p. -
Supplement to act incorporating, April 15.
"
"
1836, p. 29
Authorized to build bridge, February 2.
"
"
1836, p. 98
Relative to damages, March 17.
"
"
1836, p. 260
Authorized to construct lateral roads, Mch. 31.
"
"
1838, p. 443
May subscribe stock to lateral roads, April 14.
"
"
1845, p. 419
For relief, April 14.
"
"
1846, p. 296
For relief, April 10.
66
"
1846, p. 166
Supplement to act for relief, April 21
"
$4
1846, p. 309
Authorized to build a bridge, April 7.
"
"
1848, p. 58
Relative to increase of capital, April 15.
"
"
1849, p. 136
Supplement to act incorporating, March 7.
"
"
1851, p. 714
Relative to capital stock, April 15.
"
"
1852, P -
Relative to public crossways, May 14.
"
"
1856, p. 76
Supplement to act incorporating, May 1.
"
"
1858, p. 184
Supplement to act incorporating, May 30.
'DANVILLE
1840, p. 391
Act of incorporation, April 16.
"
1845, p. 553
Time for completion extended, April 1.
"
1846, p. 379
Time for completion extended, April 18.
"
1852, p. 422
Amends act of incorporation, April 23.
"
1853, p. 516
Relative to construction of road, April 18.
"
1853, p. 589
Authorized to borrow money, April 19.
"
1854, p. 671
Supplement to act of incorporation, May 8.
"
1857, p. 590
Supplement to act of incorporation, May 19.
"
1858, p. 830
Supplement to act of incorporation, May 15.
DANVILLE & POTTSVILLE
1828, p. 421
Supplement to act incorporating, April 14.
"
"
1831, p. 496
Portion of act of incorporation repealed Apr. 4.
"
"
1832, p. 98
Time for completion extended, Feb. 29.
"
"
1832, p. 253
Supplement to act of incorporation, April 3.
66
Digitized by Google
522
PENNSYLVANIA-RAILROAD LAWS.
Corporate Titles.
Laws.
Abstracts of Laws.
DANVILLE & POTTSVILLE
1833, p. 260
Authorized to appropriate lands, April 8.
"
1:
1834, p. 198
To guarantee interest on loans, April 8.
"
"
1835, p. -
May unite with Susquehanna, April 15.
"
"
1838, p. 443
Authorized to subscribe stock, April 14.
"
"
1840, P 316
Certain privileges granted, April 13.
"
"
1844, p. 169
Time for completion extended, March 29.
"
"
1845, p. 512
Appropriation, etc., April 16.
"
"
1846, p. 446
Supplement to act incorporating, April 12.
"
"
1847, p. 434
Appropriation, March 16.
"
"
1847, p. 436
Supplement to not of incorporation, March 16
"
"
1848, p. 522
Appropriation, April 11.
"
"
1848, p. 540
Relative to sale, April 11.
"
"
1850, p. 857
Laws of 1850, relative to appropriation, Apl. 10.
"
"
1850, p. 294
Relative to interest of loan and sale, April 2.
"
"
1850, P. 297
Time of completion extended, April 2.
"
"
1851, p. 461
Relative to time of completion, tolls,and author-
ized to build branch road, April 12.
"
"
1951, p. 679
Appropriation, April 15.
"
"
1853, p. 594
Interest guaranteed, April 19.
"
"
1855, p. 499
Interest guaranteed, May 7.
"
"
1858, p. 170
Supplement to act of incorporation, March 25.
"
"
1859, p. 550
Relative to guarantee of interest, April 12.
DAUPHIN & SUSQUEHANNA COAL
1848, p. 197
Supplement to act of incorporation, March 18.
DELAWARE, LACKA. & WESTERN
1853, p. 288
Relative to elections, April 2.
"
"
"
1854, p. 263
Supplement to act incorporating, April 4.
"
"
"
1856, p. -
Authorised to borrow money, April 8.
DELAWARE COUNTY PASSENGER
1859, p. 354
Act of incorporation, March 29.
DELA., LEHIGH & WYOMING VALLEY
1853, p. 179
Act of incorporation, March 14.
"
.1
"
1858, p. 814
Laws of 1859. April 16.
DELAWARE & CoBB's GAP
1849, p. 757
Laws of 1851, act of incorporation, April 7.
"
"
1851, p. 454
May increase capital, relative to dawages for
coal, etc., April 12.
6
"
1852, p.
May connect with Warren Railroad, April 23.
"
"
1853, p. 163
Merged in Lacka. and Western RR., Mch. 11.
"
"
1855, p. 37
Supplement to act consolidating, Feb. 16.
"
"
1855, P. 110
Supplement to act of consolidation, March 22.
"
"
1855, p. 302
Supplement to act of consolidation, April 26.
*DELAWARE & SUSQUEHANNA
1830, p. 323
Act of incorporation, April 6.
"
"
1832, P 627
Time for opening books extended, March 5.
"
"
1842, p. 251
Charter extended, April 7.
"
"
1842, p. 251
Change of commissioners, April 7.
"
"
1847, p. 177
Supplement to act of incorporation, Feb. 27.
".
"
1853, p. 589
Charter extended, April 19.
*DIVIDING RIDGE
1839, p. 159
Act of incorporation, March 27.
DONALSON IMPROVEMENT
1854, p. 253
Supplement to act of incorporation, March 31.
"
"
1854, p. 588
Pay of shareholders, May 5.
"
"
1855, p. 80
Supplement to act of incorporation, March, 15.
"
"
1855, p. 435
Supplement to act of incorporation, May 4.
"
"
1859, p. 277
May issue 7 p. c. coupon bonds, March 29.
DONALSON IMPROVEMENT & RR
1853, p. 612
Changed to Donalson Improv. Co., April 20.
*EARP
1853, p. 647
Act of incorporation, April 20.
EAST PENNSYLVANIA
1857, P 368
Changed from Reading and Lehigh, April 21.
EAST BROAD Top RR. & COAL
1856, p. 782
Act of incorporation, April 19.
"
"
"
"
1857, p. 505
Supplement to act of incorporation, May 14.
*EAST BRANDYWINE
1854, P 720
Act of incorporation, March 31.
"
"
1855, p. 543
Authorized to extend road, March 2.
*EAST MAHONYO
1854, p. 452
Act of incorporation, April 21.
"
"
1859, p. 470
Relative to payment of per ct., etc., April 11.
"
"
1859, p. 817
Supplement to act of incorporation, April 21.
*EBENSBURG & CRESSON
1859, p. 314
Act of incorporation, March 30.
ERIE & NORTH EAST
1842, p. 267
Act of incorporation, April 12.
"
"
"
1846, p. 118
May reduce stock, March 11.
"
"
"
1852, p. 345
Relative to election, April 14.
"
"
"
1855, p. 656
Act to be revised on certain conditions, Oct. 6
"
"
"
1856, p. 586
May make change in road, April 26.
"
"
6
,
1858, p. 159
Repeals of act of April 22, 1856, March 24.
"ERIE & OHIO
1858, p. -
Act of incorporation.
1.
"
1859, p. -
Act of incorporation repealed, March 9.
Digitized by Google
PENNSYLVANIA-RAILROAD LAWS.
523
Corporate Titles.
Laws.
Abstract of Laws.
*ERIE CITY
1850, p. 42
Authorized to borrow money, April 2.
"
"
1857, p. 264
Supplement to act of incorporation, April 18.
"ERIE
1836, p. 395
Act of incorporation, April 1.
ERIS & PITTSBURG
1858, p. 411
Act of incorporation, April 1.
"
"
1858, p. 491
Supplement to act of incorporation, April 28.
*EXCELSIOR
1855, p. -
Act of incorporation, April 29.
FAIRMOUNT & ARCH (CITY) PASS'R
1858, p. 320
Act of incorporation, April 16.
"
"
"
"
1859, p. 234
Supplement to act of incorporation, March 24.
FAIRMOUNT PASSENGER
1858, p. 257
Act of incorporation, April 13.
"FAYETTE & WESTMORELAND
1859, p. 27
Name changed from Fayette County, Feb. 9.
FAYETTE COUNTY
1857, p. 665
Act of incorporation, May 1.
"
"
1859, p. 27
Changed to Fayette & Westmoreland, Feb. 9.
*FISHING Ck., SWATARA & SCHUYL
1844, p. -
Act of incorporation April 25.
"
"
"
1845, p. 278
Supplement to act incorporating, April 1.
"
"
"
1847, p. 490
Time for commencing work extended, Feb. 4.
"
"
"
1848, p. 363
Supplement to act of incorporation, April 7.
"
"
"
1850, p. 603
Time for commencing extended, April 11.
*FISHING CREEK
1831, p. 326
Act of incorporation, April 1
"
"
1833, p. 263
Time of commencing extended, April 8.
"
"
1836, p. 428
Time of commencing extended, April 1.
"
"
1839, p. 144
Supplement to act incorporating, April 25.
"
"
1847, p. 484
Commissioners appointed, March 6.
*FOSTER, JOHN & OTHERS
1838, p. 119
Authorized to construct RR, March 17.
*FOURTH MOUNTAIN COAL & RR
1841, p. 35
Act of incorporation, February 20.
FRANKLIN
1832, p. 114
Act of incorporation, March 12.
"
1836, p. 413
Time of commencing extended, April 1.
"
1836, p. 537
Relative to damages, June 13.
"
1850, P. 441
Relative to sale, April 10.
"
1852, p. 221
Relative to preferred stock, April 1..
"
1856, p. 770
Supplement to act of incorporation, April 9.
"
1859, p. 20
Name changed from Chambersburg, Green-
castle and Hagerstown RR, February 2.
"FRANKLIN & BEDFORD
1854, p. 721
Laws of 1857, act of incorporation, May 4.
GERMANTOWN PASSENGER
1858, p. 494
Act of incorporation, April 21.
"
"
1859, p. 284
Relative to track on 4th and 8th sts., March 22
GIRARD COLLEGE & PASSENGER
1858, p. 300
Act of incorporation, April 15.
*GIRARD
1856, p. 240
Act of incorporation, April 1.
GETTYSBURG
1838,p. 4
Appropriation. January 9.
"
1838, p. 442
Appropriation, April 14.
"
1838, p. 456
Repeals part of act of 9th Jan., April 14.
"
1839, p. 641
Work suspended, February 19.
"
1840, p. 645
Appropriation, June 11.
"
1841, p. 442
Relative to money due contractors, June 7.
"
1842, p. -
Relative to damages, July 3.
"
1846, p. 53
Relative to account of superintendent, Feb 18
GETTYSBURG
1851, p. 780
Act of incorporation, March 24
"
1853, p. 300
Extension of road, April 5.
"
1854, p. 185
Time extended for completion, March 23.
"
1856, p. 102
Authorized to borrow money, February 21.
"GREENWICH, LAN. & BLOSSBURG
1856, p. 576
Act of incorporation, May 21.
GREEN & COATES ST. Phila. PASS'R
1858, p. 447
Act of incorporation; April 21.
64
"
"
6.
1859, p. 284
Relative to single track on 4th and 8th streets,
Philadelphia, March 22.
"HAMBURG, BETHLEHEM & EASTON
1838, p. 108
Act of incorporation, March 17.
"
"
"
1838, p. 119
Time extended for completion, March 31.
"HARRIS, GEO. W. & OTHERS
1854, p. 331
May construct a RR. in Harrisburg, May 13.
HANOVER BRANCH
1847, p. 832
Act of incorporation, March 16.
"
"
1854, p. 227
Supplement to act of incorporation, March 29.
"HANOVER & CODORUS
1839, p. 621
Act of incorporation July 20.
*HARRISBURG & PINE GROVE
1842, p. 146
Act of incorporation, March 24.
"
"
"
1845, p. 427
Time of commencing extended, April 14.
*HARRISBURG & PITTSBURG
1840, p. 648
Act of incorporation, June 11.
HARRISBURG, PORTSMOUTH, MOUNT
Jor & LANCASTER
1838, p. 121
May increase capital stock, March 17.
"
"
"
1841, P. 371
Relative to laying T rails, May 7.
"
"
"
1845, p. 183
Stock increased, etc., March 17.
"
"
"
1848, p. 177
Time extended for completion, March 16.
"
"
"
1852, P. 302
Authorized to issue new bonds, April 9.
Digitized by Google
524
PENNSYLVANIA-RAILROAD LAWS.
Corporate Titles.
Laws.
Abstracts of Laws.
HARRISBURG, PORTSMOUTH, MOUNT
Joy & LANCASTER
1853, p. 277
Authorized to lay additional track, April 2.
"
"
"
1853, p. 256
Authorized to extend road, April 4.
"
"
"
1854, p. 482
May increase capital and issue bonds, April 22.
"HARRISBURG & SUNBURY
1837, p. -
Act of incorporation, April 4.
*HECTORVILLE & SCHUYLKILL HAVEN
1836, p. 652
Act of incorporation, June 15.
HEMPFIELD
1850. p. 862
Act of incorporation, May 15.
"
1851, p. 470
Relative to subscription, April 12.
"
1852, p. 81
Certain subscriptions authorized, Feb. 24.
"
1852, p. 617
Certain subscriptions authorized, May 6.
"
1853, p. 356
Relative to subscription, April 9.
"
1853, p. 218
Relative to subscription, March 22.
"
1854, p. 541
Relative to subscription, May 4.
"
1857, p. 349
May issue preferred stock, April 28.
HESTONVILLE, MANTUA AND FAIR-
MOUNT PASSENGER
1859, p. 389
Act of incorporation, April 6.
*HOLLIDAYSBURG & BENNINGTON RR.
& MINING
1844, p. 201
Act of incorporation, April 3.
"
"
1848, p. 196
May increase capital, March 18.
HOWELTOWN COAL & RR
1842, P. 93
Changed to Broad Mountain Coal Co., Mch. 15.
HUNTINGTON & BROAD Top Moun-
TAIN RR. & COAL
1852, p. 615
Act of incorporation, May 6.
"
"
"
1853, p. 47
Supplement to act of incorporation, Feb. 8.
"
"
"
1853, p. 618
Authorized to extend road, April 20.
"
"
"
1855, p. 162
Supplement to act of incorporation, April 5.
"
"
и
1856, p. 114
Authorized to increase capital stock. March 7.
"
"
"
1857, P. 20
Supplement to act of incorporation, Feb. 6.
"
"
"
1858, P. 123
May issue additional stock, March 17.
*HUNTINGTON & CHAMBERSBURG
1836, p. 666
Act of incorporation, June 16.
*HUNTINGTON & HOLLIDAYSBURG
1839, p. 610
Act of incorporation, July 2.
*IRONTON
1859, p. 739
Act of incorporation, March 4.
*IRON BRIDGE
1839, p. 368
Authorized to build a railroad, June 21.
*JEDDO & CARBON COUNTY
1855, p. 545
Relative to construction of tunnel, March 16.
"
of
"
1856, P 579
Authorized to extend road, February 12.
*JERSEY SHORE, PINE CREEK AND
STATE LINE
1854, P. 277
Authorized to extend road, April 4.
"
"
"
"
1856, p. 763
Authorized to extend road, March 26.
*JOHNSON, ALEX. & OTHERS
1852, p. 283
May construct wooden railway, April 7.
*KENSINGTON & PENNTOWNSHIP
1836, p. 480
Act of incorporation, May 16.
*KINGSESSINNG & PHILADELPHIA
1853, p. 627
Act of incorporation, April 18.
LACKAWANNA & BLOOMSBURG
1852, p. 669
Act of incorporation, April 5.
"
"
1853, P- 150
Supplement to act incorporating, March 3.
"
"
1855, p. 191
Relative to bridges and roads, April 5.
"
"
1858, p. 115
Supplement to act of incorporation, March 17
"
"
1859, p. 25
Supplement to act of incorporation, Feb. 5.
LACKAWANNA & LANESBORO'
1856, p. 364
Act of incorporation, February 22.
"LACKAWANNA & SUBQUEHANNA
1826, p -
Act of incorporation, March 11.
"
"
1827, p. 443
Supplement to net incorporating, April 16.
"
"
1828; p. 181
May extend road, March 8.
"
"
1832, p. 557
Supplement to act of incorporation, June 6.
"
"
1833, p. 410
Relative to election, April 8.
=
"
1833, p. 476
Relative to election, April 9.
"
"
1834, p. 448
Relative to election, April 14.
"
"
1835, p. -
Supplement to act of incorporation, March 19.
"
"
1838, p. 198
May construct branch road, March 31.
"
"
1839, p. 158
Supplement to act of incorporation, March 26.
"
"
1845, p. 204
Charter extended, March 22.
"
"
1852, p. 407
Relative to election of officers, April 23.
"
"
1854, p. 93
Relative to time of election, February 22.
"
"
1854, p. 398
Charter extended, April 20.
"
"
1856, p. 57
Authorized to borrow money, March 12.
LACKAWANNA & WESTERN
1851, p. 628
Changed from Liggitt's Gap RR., April 14.
"
"
1852, p. 410
Relative to signs at cross-roads, April 23.
"
"
1853, p. 163
Delaware and Cobb's Gap merged, March 1!.
"
"
1853, p. 288
Relative to election, April 2.
"
"
1855, p. 37
Supplement to act consolidating, Feb. 16.
"
"
1855, p. 302
Supplement to act of consolidation, April 26.
"LAFAYETTE
1851, p. 868
Act of incorporation, April 3.
Digitized by
Google
PENNSYLVANIA-RAILROAD LAWS.
525
Corporate Titles.
Laws.
Abstract of Laws.
"LAFAYETTE
1853, p. 57
Relative to report, February 9.
"
1853, p. 825
Relative to road taxes, etc., April 18.
LANCASTER, LEB. & PINE GROVE
1846, p. 745
Act of incorporation, March 28.
"
"
"
"
1847, p. 796
Relative to stock, March 16.
"
"
"
"
1852, p. 613
Time of commencing extended, May 6.
"
"
"
"
1853, p. 290
Authorised to extend road, April 5.
"
"
"
"
1858, p. 812
Time of commencing extended, April 15.
*LARRY'S CREEK RR. & COAL
1859, p. 449
Act of incorporation, June 24.
"LAUMAN, G
1838, p. 378
Authorized to construct a railroad, April 13.
*LAUREL HILL COAL
1838, p. 151
Act of incorporation, March 20.
*LAWRANCEVILLE & OSWAYA
1852, p. 665
Act of incorporation, May 1.
LEBANON VALLEY
1836, p. 385
Act of incorporation, April 1.
"
"
1840, p. 19
Time extended for subscription, January 6.
"
"
1850. p. 340
Additional powers granted, April 3.
6.
"
1851, p. 622
Relative to tax, April 14.
"
"
1853, p. 296
Supplement to act incorporating, April 5.
"
"
1854, p. 420
Supplement to act incorporating, April 20.
"
"
1856, p. 26
Authorized to increase capital, February 4.
"
"
1856, p. 360
Reading Co. may guarantee bonds, April 15.
"
"
1857, p. 401
Relative to consolidation, May 5.
LEHIGH COAL & NAVIGATION
1839, p. 152
Time for completion, etc., March 25.
LEHIGH & DELAWARE WATER-GAP
1857, p. 562
Act of incorporation, May 4.
LEHIGH & LUZERNE
1857, p. 194
Changed to Lehigh Luzerne RR., April 8.
"
"
1858, P -
Railroad and canal companies authorized to
subscribe for stock, April 16.
LENIGH VALLEY
1853, p.
1
Changed from Delaware, Lehigh Schuylkill s
Susquehanna Railroad, January 7.
"
"
1855, p. 253
Relative to occupation of certain land, Apl. 18.
"
"
1856, p. -
Authorized to increase stock, etc., March 4.
"
"
1857, p. 209
Supplement to act approved Mch. 4, '56, Apl. 16.
"LEWISBURG, CENTRE & SPRUCE CK.
1854, p. 141
Act of incorporation, March 3.
"
"
"
1859, p. !87
Act of incorporation, March 21.
*LEWISBURG & HOLLIDAYSBURG
1836, p. 341
Act of incorporation, April 4.
"LEWISBURG, PENN'S VALLEY & HOL-
LIDAYSBURG
1836, p. 341
Act of incorporation, April 1.
*Lick RUN RR. & COAL
1829, P. 222
Act of incorporation, April 22.
6.
"
1831, p. 72
Supplement to act of incorporation, Feb. 17.
LIGGITT'S GAP
1832, p. 16
Act of incorporation, April 7.
"
"
1842, p. 177
Time of completion extended, March 24.
"
"
1847, p. 321
Time for construction extended, March 13.
"
"
1849, p. 640
Supplement to act of incorporation, April 9.
"
"
1850, p. 411
Relative to motive, April 6.
"
"
1851, p. 231
Supplement to act of incorporation, March, 24.
"
"
1851, p. 629
Changed to Lacka. and Western RR., April 14.
*LIGONIER & LATROBE
1853, p. 710
Act of incorporation, April 15.
*LITTLE, GEO. & OTHERS
1851, P. 1853
Authorized to build a railroad, April 15.
*LITTLE SAW-MILL RUN
1850, p. 1034
Act of incorporation, April 15.
"
"
"
1852, p. 115
When to be declared a public highway, Mch. 5.
"
"
"
1853, p. 5
Authorized to borrow money, January 9.
LITTLE SCHUYL. Nav. RR. & COAL
1832, p. 253
Supplement to act of incorporation, April 3.
"
"
"
"
1833, p. 260
Time for completion extended, April 8.
"
"
"
"
1836, p 654
Charter ninended, June 15.
"
"
64
"
1842, p. 212
Time for completion extended, March 30.
"
"
"
"
1846, p. 245
Time of completion extended, April 7.
"
"
"
"
1847, p. 250
Supplement to act of incorporation, March 8.
"
"
"
"
1857, p. 648
Authorized to borrow money, May 21.
LITTLE SCHUYL. & SUSQUEHANNA
1831, p. 159
Act of incorporation, March 21.
6
"
"
1832, p. 253
Supplement to not of incorporation, April 3.
"
"
"
1833, p. 263
Time for commencing extended, April 8.
"
"
"
1838, p. 155
Authorized to construct branch road, Mch. 26.
6
"
"
1839, p. 10
Authorised to borrow money, January 28.
6
"
"
1846, p. 70
Supplement to act of incorporation, Feb. 26.
"
"
"
1849, p. 947
Supplement to act of incorporation, March 20.
"
"
"
1851, p. 429
Changed to Cata., W'msport and Erie, Apl. 12.
"
"
"
1854, p. 321
Supplement to act of incorporation, April 13.
LITTLESTOWN
1854, p. 711
Act of incorporation, February 17.
*Locusr GAP
1858, p. 319
Act of incorporation, April 16.
LOCK HAVEN & TYRONE
1853, p. 797
Act of incorporation, February 26.
Digitized by
Google
526
PENNSYLVANIA-RAILROAD LAWS.
Corporate Titles.
Laws.
Abstracts of Laws.
Lock HAVEN & TYRONE
1853, p. 725
Authorized to extend road, April 18.
"
"
"
1854, p. 609
Relative to extension of road, May 6.
"
"
"
1857, p. 564
Supplement to act of incorporation, May 4.
LORBERRY CREEK
1831, p. 253
Act of incorporation, March 30.
"
"
1855, p. 255
Authorized to increase stock, April 18.
"LOYALSOCK
1839, p. 326
Act of incorporation, June 20.
*LUZERNE & SCHUYLKILL
1846, p. 755
Act of incorporation, April 8.
"
"
1852, p. 610
Supplement to act incorporating, May 5.
"LYCOMING NAVIGATION
1828, p. 255
Act of incorporation, April 9.
"
"
1842, p. 24
Changed to Red Run Coal Company, Feb. 19.
"
"
1854, p. 639
Supplement to act incorporating, May 8.
LYKENS VALLEY
1830, p. 369
Act of incorporation, April 7.
"
"
1833, p. 115
Supplement to act incorporating, March 13
"
"
1839, p. 57
Supplement to act incorporating, March 20.
"
"
1851, p. 362
Relative to lateral roads, April 8.
"
"
1856, p. 688
Supplement to act of incorporation, May 3.
"
"
1859, p. 440
Relative to pay of repairs, April 9.
M'CAULEY MOUNTAIN
1854, p. 723
Act of incorporation, May 5.
"
"
1858, p. 336
May consolidate with the Columbia Coal and
Iron Company, April 19.
MAHONING & SUSQUEHANNA
1854, p. 687
Laws of 1855. Act of incorporation, April 19.
MAHONOY NAVIGATION
1832, p. 521
Act of incorporation, May 7.
MAHONOY & SHAMOKIN IMPROVEM'T
1856, p. -
Authorized to consolidate with Trevorton and
Susquehanna, March 24.
MAHONOY & WICONISCO
1850, p. 1045
Act of incorporation, May 6.
"
"
1851, p. 621
Relative to changing bonds to stocks, April 14.
M'KEAN COUNTY
1857, p. 584
Laws of 1858 Act of incorporation, May 12.
"
"
1858, p. 798
Laws of 1859. Supplement to act of incor-
poration, March 10.
MARIETTA & COLUMBIA
1832, p. 564
Act of incorporation, June 9.
"
"
1834, p. 390
Time of completion extended, April 14.
"
"
1835, p. -
Supplement to act incorporating, April 15.
MEADVILLE
1857, p. 801
Act of incorporation, May 20.
"
1858, p. 300
Changed to the Atlantic & Great Western RR.
Company of Penn., April 15.
"
1859, p. 125
Supplewent to act of incorporation, March 10.
*MERCER & NEW CASTLE
1852, p. 754
Act of incorporation, March 13.
"
"
1854, p. 159
Authorized to borrow money, May 6.
"
"
1854, p. 704
Repeals act of 1854, May 9.
"
"
1859, p. 280
Time of commencing extended, March 29.
*MIDDLEPORT & PINE CREEK
1830, p. 244
Act of incorporation, April 6.
"
"
"
1838, p. 462
Supplement to net of incorporation, April 16.
*MIDDLE COAL FIELD
1852, p. 775
Act of incorporation, May 4.
"
"
"
1859, p. 671
Charter revived, April 15.
MILL CREEK & MINE HILL NAVIG'N
1828, p. 70
Act of incorporation, February 7.
"
"
"
"
"
1829, p. 296
Supplement to act of incorporation, April 23.
"
"
"
"
"
1830, p. 33
Relative to toll on lateral road, January 29.
"
"
"
"
"
1833, p. 17
Authorised to charge tolls, etc., January 28.
"
"
"
"
"
1833, p. 73
Neglect of officers to act provided for, Mch. 6.
"
"
"
"
"
1835, p. -
Supplement to act of incorporation, April 14.
"
"
"
"
"
1840, p. 555
Time of completion extended, May 28.
"
=
"
"
"
1845, p. 308
Supplement to act of incorporation, April 7.
"
"
"
"
44
1847, p. 124
Authorized to extend road, Feb. 8.
"
"
"
"
"
1848, p. 504
May construct additional road, April 11.
"
"
"
"
"
1849, p. 511
May construct additional road, April 9.
"
"
"
"
"
1850, p. 759
Authorized to extend road, May 14.
"
"
"
"
"
1857, p. 635
Authorized to extend road, May 21.
MILFORD & MATAMORA
1849, p. 675
Act of incorporation, April 7.
"
"
1854, p. 382
Authorized to borrow money, April 17.
MILLERSBURG & BARLYSBURG
1851, p. 706
Act of incorporation, April 12.
MINERS
1855, p. 618
Act of incorporation, May 7.
MINE HILL& SCHUYLKILL HAVEN
1828, p. 205
Act of incorporation, March 24.
"
"
"
"
1829, p. 137
Authorized to make Interal road, April 8.
"
"
"
"
1831, p. 26
May increase stock, etc., January 21.
"
"
"
"
1832, p. 253
Supplement to act of incorportion, April 3.
"
"
"
44
1836, p. 229
Supplement to act of incorporation, March 29.
"
"
"
"
1846, p. -
Supplement to act of incorporation, March 27.
"
"
"
"
1847, p. 273
Supplement to act of incorporation, March 9.
Digitized by
Google
PENNSYLVANIA-RAILROAD LAWS.
527
Corporate Titles.
Laws.
Abstracts of Laws.
MINE HILL& SCHUYLKILL HAVEN
1848, p. 263
May extend road and increase capital, Mch. 29.
"
"
"
"
1852, p.
Supplement to act of incorporation, March 18.
"
"
"
"
1854, p. 375
Supplement to act of incorporation, April 17.
"
"
"
"
1859, P. 459
Supplement to act of incorporation, April 7.
MOUNT CARBON
1829, p. 201
Act of incorporation, April 20.
"
"
1832, P 99
May unite with Danville & Pottsville, Feb. 29.
"
"
1832, p. 253
Supplement to act of incorporation, April 3.
"
"
1833, p. 260
Time for completion extended, April 8.
6.
"
1838, p. 121
Time for completion extended, March 17.
"
"
1842, p. 121
Authorized to increase capital stock, Mch. 17.
"
"
1844, p. 370
Relative to tolls, April 24.
"
"
1844, P 424
Relative to tolls, April 27.
"
"
1845, p. 197
Supplement to act incorporating, March 21.
"
"
1848, p. 514
Relative to lateral roads, April 11.
MOUNT CARBON & PORT CARBON
1842, p. 398
Act of incorporation, July 16.
"
"
"
"
1843, p. 254
Time for completion extended, April 14.
"
"
4.
"
1847, p. 280
Authorized to increase capital, March 9.
"
"
"
"
1848, p. 393
Authorized to increase capital, April 8.
"
"
"
"
1854, p. 487
Relative to branch roads, April 25.
"
u
"
"
1855, p. 610
Supplement to act of incorporation, May 5.
*MOUNT CARMEL & SHAMOKIN
1851, p. 620
Act of incorporation, April 14.
*MOUNT EAGLE & FREMONT
1852, p. 163
Act of incorporation, March 18.
"
"
"
1851, p. 875
Laws of 1854. Relative to stock, April 8.
"
"
"
1855, p. 113
Time for commencing extended, March 22.
"MOUNT PLEASANT
1853, p. 522
Act of incorporation, April 18.
*Muddy BRANCH
1834, p. 414
Act of incorporation, April 14.
*NAVIGATION
1857, p. 785
Time for completion extended, April 18.
"New HOLLAND
1836, p. 451
Act of incorporation, April 1.
*New HOPE, DOYLESTOWN & NOR-
RISTOWN
1836, p. 177
Act of incorporation, March 23.
"
"
"
"
1838, p. 164
Time for commencing extended, March 30.
"
"
"
"
1838, p. 465
Time for commencing extended, April 16.
"
"
"
"
1844, p. 339
Time for completion extended, April 23.
"
"
"
"
1851, p. -
Time for commencement extended, April 14.
"
"
ii
"
1853, p. 421
Authorized to construct branch, April 14.
"
"
"
"
1854, p. 637
Time extended. May 8.
NEWCASTLE & DARLINGTON
1856, P. 559
Changed from Nicholson Run and Pine Swamp
Railroad, March 13.
"
..
1857, p. 11
Name changed to Pittsburg, Newcastle and
Cleveland Railroad, January 31.
*NEWVILLE BRANCH
1833, p. 251
Act of incorporation, March 31.
*New LISBON UNION
1853, p. 735
May extend road, April 19.
"NEWRY
1859, p. 513
Supplement to act of incorporation, April 11.
*New YORK & MIDDLE COAL FIELD
& RR. COAL.
1855, p. 399
Changed from Coal Run Improvement, May 2
"
"
"
"
"
1859, p. 445
Supplement to act of incorporation, April 11
NEW YORK & ERIE
1841, p. 28
May construct road in Pennsylvania, Feb. 16.
"
"
"
1846, p. 179
Right of way granted, March 26.
"
"
"
1848, p. 330
Amends act of 1846, April 1.
"
"
"
1851, p. 629
Required to erect fences, April 14.
"
"
"
1852, p. 476
Title to land confirmed, April 28.
"
"
"
1853, p. 511
Authorized to hold more land, April 18.
44
"
"
1853, p. 654
Relative to land held in State, March 27.
*NICHOLSON RUN & PINE SWAMP
1856, p. 559
Changed to Newcastle and Darlington, Mch. 13.
"NORRISTOWN, BERKS & LEHIGH
1832, p. 342
Act of incorporation, April 7.
"
"
"
1835, p. -
Supplement to act of incorporation, April 15.
"NORRISTOWN & FREEMANSBURG
1852, p. 415
Act of incorporation, April 28.
"
"
1853, p. 821
Relative to the extension of time, April 16.
"
"
1854, p. 680
Changed to Norristown and Allentown, Apl. 6
"NORRISTOWN & MOUNT CARBON
1833, p. 172
Act of incorporation, April 6.
"NORRISTOWN & ALLENTOWN
1854, p. 680
Changed from Norristown and Freemansburg
"NORRISTOWN VALLEY
1835, p. -
Act of incorporation, April 15.
"
"
1837, p. -
Appropriation, April 15.
"
"
1842, p. 249
Time extended for completion. April 7.
*NORTH BRANCH PASSENGER, (OF
PHILADELPHIA)
1858, p. 245
Act of incorporation, April 10.
"NORTH BRANCH
1846, P. 31
Act of incorporation April 22.
NORTHERN CENTRAL
1856, p. 198
Authorised to sell bonds, March 24.
Digitized by Google
528
PENNSYLVANIA-RAILROAD LAWS.
Corporate Titles.
Laws.
Abstract of Laws.
*Nor'n LIBERTIES & PENNTOWNSHIP
1829, p. 270
Act of incorporation, April 23.
"
"
"
1832, p. 353
Supplement to act of incorporation, April 3.
"
"
"
1833, p. 206
Part of act of 3d April, 1832, repealed, Apt. 6.
"
"
"
1853, p. 188
Relative to duties, March 15.
NORTH LEBANON
1850, p. 315
Act of incorporation, April 2.
"
"
1853, p. 544
Time for completion extended, April 18.
"
"
1854, p. 3
Authorized to borrow money, January 16.
"
"
1854, p. 418
Aurhorized to extend road, April 20.
"
"
1855, p. 285
Authorized to borrow money, April 21.
"
"
1858, p. 59
Authorized to borrow money, February 26.
"
"
1859, p. 393
Authorized to charge tolls, April 6. [Apl. 18.
NORTH PENNSYLVANIA
1853, p. 630
Changed from Phila., Easton and Water-Gap.
"
"
1854, p. 378
May use other railroads April 17.
"
"
1854, p. 680
Relative to purchasing lands, May 8.
"
"
1857, p. 61
Authorized to borrow money, February 21.
*NORTHAMPTON & LUZERNE COAL & RR
1850, p. 600
Time of commencing extended, May 3.
*NORTH BRANCH & LACKAWANNA
1855, p. 601
Act of incorporation, May 2.
"
"
"
1857, p. 597
Supplement to act of incorporation, May 20.
NORTH-WESTERN
1853, p. 53
Act of incorporation, February 9.
"
1853, p. 815
Laws of 1854. Supplement to nct of incor-
poration, April 18.
"
"
1856, p. 318
Authorized to increase capital, April 10.
"
"
1857, p. 216
Borough of Saltsburg may lease land, Apl. 16.
"OFFERMAN RR. & MINING
1838, p. 326
Act of incorporation, April 10.
"
"
1842, p. 428
Changed to Schuyl. RR. and Mining, July 26.
OHIO, INDIANA, FORT WAYNE & CHI-
CAGO
1856, p. -
Authorized to consolidate, April 15.
OHIO & PENNSYLVANIA
1848, p. 459
Act of incorporation, April 11.
"
"
1849, p. 79
Supplement to act of incorporation, Feb. 19.
"
"
1850, p. 697
Authorized to borrow money, May 6.
"
"
1852, p. 337
Supplement to act of incorporation, April 14.
"
"
1856, p. -
May consolidate with the Ohio, Indiana, Fort
Wayne and Chicago, April 15.
*ORWIGSBURG
1828, p. 403
Act of incorporation, April 14.
"OXFORD (CHESTER COUNTY)
1832, p. 564
Act of incorporation. June 9.
"
"
"
1836, p. 414
May unite with Cecil Co. RR. of Md., April 1.
PENNSYLVANIA
1846, p. 313
Act of incorporation, April 13.
"
1846, p. 326
Supplement to act of incorporation, April 13.
"
1847, p. 360
May connect with Pittsburg and Connelsville,
March 15.
"
1848, p. 277
Supplement to act of incorporation, March 28.
"
1849, p. 196
Supplement to act of incorporation, March 20.
"
1849, p. 341
Declaratory of act passed 13th Ap., 1846, Ap.5.
"
1850, p. 373
May construct lateral road. April 6.
"
1850, p. 583
Relative to viewers of damages, April 26.
"
1850, p. 771
Relative to subscription, May 15.
"
1851, p. 507
Sec. 11 of act 15th May, 1850, be repealed,
April 10.
"
1851, p. 518
Construing sec. 5 of act March 28, 1848, Ap 12
"
1852, p. 509
Certificates of laws, subject to taxation, May 1.
"
1852, p. 639
May extend lateral road, January 29.
"
1852, p. 616
May increase capital stock, May 6.
"
1852, p. 547
Relative to use of road by State, May 4.
"
1852, p. 99
May construct lateral road, February 28.
"
1852, p. 395
Supplement to act of incorporation, April 23.
"
1853, p. 603
Relative to agents, April 19.
"
1853, p. 137
Relative to connecting roads, March 3.
"
1853, p. 134
Relative to stock, March 1.
"
1853, p. 215
Relative to stock, March 19.
"
1853, p. 219
Supplement to act of incorporation, March 23
"
1853, p. 674
May construct telegraph, May 11.
"
1854, p. 72
May make certain connections, February 16
"
1854, p. 76
Supplement to act of incorporation, Feb. 17.
"
1854, p. 385
To increase loans, April 18.
"
1854, p. 453
Relative to power toenter on property, April 21
"
1854, p. 696
Relative to appropriation, May 9.
"
1854, p. 708
Relative to appropriation, May 9.
"
1854, p. 701
Relative to pay of agents, May 9.
Digitized by
Google
PENNSYLVANIA-RAILROAD LAWS.
529
Corporate Titles.
Laws.
Abstracts of Laws.
PENNSYLVANIA
1855, p. 501
Appropriation, May 7.
"
1855, p. 412
Relative to increase of stock, May 2.
"
1856, p. 585
Act of 1853 repealed, May 13.
"
1856, p. 47
Authorized to hold real estate, February 7.
"
1856, p. 461
May build RR. in Philadelphia, April 18.
"
1857, p. 523
Appropriation to for use of road, May 18.
"
1857, p. 209
Charter extended, April 16.
"
1857, p. 649
Relative to dividends, May 21.
"
1857, p. 539
May hold lands in Lancaster county, May 16.
"
1857, p. 598
May subscribe to Chartiers Valley RR., May 20.
"
1857, p. 599
Authorized to purchase State works, April 16.
"
1857, p. 519
May subscribe to Hempfield RR., May 20.
"
1858, p. 197
May sell real estate, April 5.
"
1859, P. 679
May obtain supply of water for use, April 15
"
1859, P. 512
Authorized to subscribe, April 11.
"
1859, p. 827
Supplement to act of incorporation, Jan. 4.
PENNSYLVANIA
1823, p. 249
Incorporated at request of John Stevens.
PANTHER CREEK & LAUREL RUN
1853, p. 432
Act of incorporation, April 15.
*PEQUA RR. & IMPROVEMENT
1849, p. 140
Act of incorporation, March 12.
"
"
1850, p. 237
Supplement to act incorporating, March 12
"
"
1851, p. 16
Supplement to act of incorporation, Feb. 3.
PENN HAVEN & WHITE HAVEN
1857, p. 786
Laws of 1859. Act of incorporation, March 4.
"
"
"
"
1859, p. 474
Supplement to act of incorporation, April 11.
PHILADA. & BALTIMORE CENTRAL
1854, p. 291
Supplement to act incorporating, April 6.
"
"
"
1856, p. 58
Authorized to borrow money, February 12.
"
"
"
1857, p. -
Supplement to act of incorporation, Feb. 24.
"
"
"
1857, p. 375
Relative to location of road, May 1.
PHILADELPHIA CITY PASSENGER
1959, p. 243
Act of incorporation, March 26.
"
"
"
1859, p. 325
Supplement to act incorporating, March 31.
PHILADELPHIA & DARBY
1857, p. 556
Act of incorporation, April 28.
"
"
1858, p. 391
Supplement to act of incorporation, April 21
"
"
1859, p. 5
Authorised to borrow money, January 20.
PHILADELPHIA& DELAWARE COUNTY
1831, p. 353
Act of incorporation, April 2.
"
44
"
1836, p. 86
Name changed to Philadelphia Wilmington &
Baltimore, March 14.
*PHILADELPHIA & DELAWARE RIVER
1854, p. 759
Act of incorporation, April 4.
"
64
"
1856, P. 135
Stock reduced, March 11.
"
"
"
1857, p. 803
Supplement to act incorporating, June 9.
"
"
"
1858, p. 225
Supplement to act incorporating, April 8.
"
"
"
1858, p. 237
Authorized to extend road, April 9.
PHILADA, EASTON & WATER-GAP
1852, p. 654
Act of incorporation, April 8.
"
"
"
"
1853, p. 16
Supplement to act of incorporation, Jan. 25.
"
"
"
"
1853, p. 252
Supplement to act of incorporation, March, 29
"
"
"
"
1855, p. 340
Repeals act of May 6, 1852, April 7.
"
"
"
"
1853, p. 630
Changed to North Pennsylvania, April 18.
GERMANTOWN & NORRISTOWN
1832, p. 53
Act of incorporation, February 17.
"
"
"
1832, p. 377
Supplement to act of incorporation, April 7.
"
"
"
1833, p. 116
Supplement to act of incorporation, March 13
"
"
"
1834, p. 35
May extend road, February 8.
"
"
.
"
1842, p. 344
May connect with Phila. and Reading, Ap. 15.
"
"
"
1847, p. 143
For the relief of creditors, February 17.
"
"
"
1849, P. 464
May construct a branch road, April 7.
"
"
"
1852, p. 451
Supplement to act of incorporation, April 27.
"
"
"
1853, p. 293
Authorized to raise track of old, April 5.
"
"
"
1853, p. 60
Authorized to purchase land, February 10.
"
"
"
1853, p. 346
May increase capital stock, April 18.
PHILA. & GRAY'S FERRY PASS' NGER
1858, p. 237
Act of incorporation, April 9.
"PHILADELPHIA & MARINE
1829, p. 317
Act of incorporation, April 23.
*PHILADELPHIA & NEW HOPE
1839, p 315
Act of incorporation, June 16.
"
"
"
1855, p. 732
Time for commencing extended, April 5.
*PHILADELPHIA & OLNEY
1859, p. 264
Act of incorporation, April 1.
*PHILADELPHIA & PORT DEPOSIT
1836, p. 414
Act of incorporation, April 1.
PHILADELPHIA & READING
1833, p. 144
Act of incorporation, April 4.
"
"
1836, p. 654
Charter ainended, June 15.
"
"
1838, p. 149
Authorized to extend road, March 20.
if
"
1840, p. 170
Time of completion extended, March 20.
"
"
1840. p. 233
May use Centre Turnpike Railroad, April 3.
u
"
1844, p. 384
Relative to speed of engines, April 25.
67
Digitized by Google
530
PENNSYLVANIA-RAILROAD LAWS.
Corporate Titles.
Laws.
Abstract of Laws.
PHILADELPHIA & READING
1844, p. 394
Supplement to act incorporating, April 25.
"
"
1845, p. 453
Relative to damages, April 15.
"
"
1845, p. 304
Relative to loans to company, April 3.
"
"
1845, p. 531
Relative to creditors of Germantown and Nor-
"
"
ristown Railroad, April 16.
1846, p. 344
May connect with same, April 15.
"
"
1847, p. 44
Authorized to pay dividends, January 11.
"
4.
1848, p. 286
May increase capital and extend road, Mch 29.
"
"
1848, p. 315
Authorized to construct bridge, March 13.
"
"
1849, p. 69
Supplement to act incorporating, February 19.
"
"
1849, p. 347
Time extended for completion, April 5.
"
"
1849, p. 425
Land of road protected, April 5.
"
"
1850, p. 37
Relative to mortgage, February 2.
"
"
1853, p. 360
Relative to the purchase of Mount Carbon and
Port Carbon Railroad, April 11.
"
"
1855, p. 610
Supplement to act of incorporation, May 5.
"
"
1857, p. 401
Relative to consolidation, May 5.
"
"
1859, p. 217
Relative to certain mortgages, March 24.
.6
"
1859, P. 264
May connect with branch roads, March 26.
"
"
1859, p. 435
Supplement to act of incorporation, March 9.
PHILADELPHIA & SUNBURY
1852, p. 778
Authorized to borrow money, June 15.
"
"
1853, p. 802
Relative to change of terminus, April 2.
"
"
1855, p. 144
Relative to issue of preferred stock, March 29.
"
"
1856, p. 772
Time of commencing work extended, April 11.
"
"
1857, p. 13
Authorized to borrow money, April 3.
"
"
1858, p. 170
Supplement to act of incorporation, March 25.
PHILADELPHIA & TRENTON
1832, P 86
Act of incorporation, February 23.
"
"
1834, p. 143
May connect with Northern Liberties and Penn
Township Railroad, March 27.
"
"
1835, p. -
Supplement to act of incorporation, April 15.
"
"
1838, p. 378
Authorized to extend a branch, April 13.
"
"
1838, p.
Authorized to extend a branch, April 16.
"
"
1839, p. 134
Supplement to act of incorporation, March 23.
"
"
1840, p. 146
Time for completion extended, March 11.
"
"
1841, p. 299
Authorized to receive former location, May 3.
"
"
1842, p. 215
Repeals act passed May 3, 1841, June 13.
"
"
1844, P 407
Authorised to lease Market street, April 26.
"
"
1848, p. 355
May purchase real estate, April 6.
"
"
1855, p. 402
Authorise to construct branch road, May 2.
*PHILADELPHIA & TAYLORSVILLE
1836, p. 642
Act of incorporation, June 15.
PHILADELPHIA & WESTCHESTER
1852, P. 503
Relative to taking property, May 1.
"
"
1857, p. 503
Relative to debts of, May 13.
[Mch. 14.
PHILA., WILMINGTON & BALTIMORE
1836, p. 86
Changed from Philada. and Delaware County,
"
"
"
1837, p. 1
Supplement toact of incorporation, Dec 19.
"
"
"
1838, p. 45
Authorized to lay double track, February 27.
"
"
"
1838, p. 642
May unite with other railroads, April 16.
"
"
"
1851, p. 708
Relative to assessment of damages. April 12.
"
"
"
1855, p. 142
May declare and pay a dividend in stock in
certain cases, March 29.
"
"
"
1855, p. 349
Supplement to act to pay dividends, April27.
*PHILIPSBURG & JUNIATA
1830, p. 90
Act of incorporation, March 16.
"
"
1832, p. -
May receive subscriptions for track road, and
time for commencing extended, March 16.
"
"
1834, p. 264
Amends act of incorporation, April 10.
"
"
1836, p. 194
Supplement to act of incorporation, March 23.
"PRONIXVILLE & CHESTER SPRINGS.
1836, p. 252
Act of incorporation, March 31.
*PINE GROVE & SCHUYLKILL HAVEN
1836, p. 500
Act of incorporation, May 18.
*PITTSBURG ALLEGHENY & MANCHES-
TER PASSENGER
1859, p. 733
Act of incorporation, April 12.
*PITTSBURG & BIRMINGHAM PASS' GER
1859, p. 749
Act of incorporation, April 13.
PITTSBURG & CONNELSVILLE
1837, p. -
Act of incorporation, April 3.
"
"
1843, p. 332
Act to incorporate revived, April 18.
"
"
1846, p. 239
Relative to location, April 3.
"
"
1846, p. 287
Relative to tolls, April 10.
"
"
1846, p. 370
Additional commissioners appointed, April 17.
as
"
1847, p. 360
Supplement to act of incorporation, March 15
u
"
1853, p. -
Relative to stock, April 12.
"
"
1854, p. 147
Supplement to act of incorporation, March 3.
Digitized by
Google
PENNSYLVANIA-RAILROAD LAWS.
531
Corporate Titles.
Laws.
Abstract of Laws.
PITTSBURG & CONNELSVILLE
1854, p. 281
Relative to issue of bonds, April 6.
"
"
1854, p. 390
Relative to extension, April 19.
"
"
1854, p. 503
Relative to stock, April 26.
"
"
1855, p. 104
May construct and extend road, March 21.
"
"
1857, p. 2
Relative to the election of President, Jan. 22.
*PITTSBURG & EAST LIBERTY PASS'R
1859, p. 700
Act of incorporation, April 8.
*PITTSBURG & ERIE
1846, p. 612
Act of incorporation, April 21.
"
"
1852, p. 605
Supplement to act of incorporation, May 4.
"
"
1854, p. 592
Supplement to act of incorporation, May 4.
"
11
1855, p. 188
Sharon Iron Company may subscribe, April 5.
PITTSBURG, FORT WAYNE & CHICAGO
1856, p. -
Authorizing consolidation with Ohio and Peun.
and other roads, April 16.
"
"
"
"
1858, p. 392
Relative to piers on Allegheny River, Apl. 21.
*PITTBURG, KITTANNING & WARREN.
1837, p. -
Act of incorporation, April 4.
"
"
"
1847, p. 443
Time of commencing extended, March 16.
"
"
"
1852, p. 335
Supplement to act of incorporation, April 14.
"
"
"
1852, p. 720
Supplement to act of incorporation, April 15
"
"
"
1854, P. 257
Authorized to issue its bonds, April 4
"
"
"
1854, p. 648
Supplement to act of incorporation, May 8.
*PITTSBURG, NEW CASTLE & CLEVE-
LAND
1857, p. 11
Changed from N. Castle & Darlington, Jan. 31
"
"
"
1857, p. 102
Relative to damages, March 7.
*PITTSBURG & LAUGHLINSTOWN
1837, p. -
Act of incorporation, April 4.
"
"
1843, p. 336
Act of incorporation revived, April 8.
*PITTSBURG & WARREN
1837, p. -
Act of incorporation, April 4.
PITTSBURG & STEUBENVILLE
1849, P -
Act of incorporation, March 24.
"
"
1850, p. 952
Supplement to act of incorporation, March 24.
"
"
1852, p. 418
Supplement to act of incorporation, April 21.
"
"
1853, p. 127
Supplement to act of incorporation, Feb. 24.
"
"
1853, p. 615
Authorized to borrow money, etc., April 20.
"
"
1853, p. 652
Authorized to borrow money, May 2.
"
"
1854, p. 504
Authorizes commissioners to subscribe, Ap. 26.
"
"
1855, p. 127
Supplement to act of incorporation, March 27.
"
"
1859, p. 92
Time of commencing extended, March 1.
*PITTSBURG & SUSQUEHANNA
1837, p. -
Act of incorporation, April 3.
"
"
1846, p. 112
Time for completion extended, February 12.
"
"
1846, p. 131
New election authorized, March 14.
"
"
1847, p. 550
Supplement to act of incorporation, March 15
64
"
1852, p. 42
Supplement to act of incorporation, Feb. 10.
"
"
1852, p. 186
Supplement to act of incorporation, March 27
*PITTSBURG & WHEELING
1849, P 1005
Act of incorporation, April 9.
PORTSMOUTH & LANCASTER
1832, p. 564
Act of incorporation, June 9.
"
"
1834, p. 66
Supplement to act of incorporation, Feb. 8.
"
"
1835, p. -
Supplement to act of incorporation, March 11.
"
"
1836, p. 98
Supplement to act of incorporation, March 17.
PORTAGE
1836, p. 45
Appropriation, February 18.
"
1838,p. 4
Appropriation, January 9.
"
1839, p. 631
Appropriation, July 19.
"
1841, p. 314
Appropriation, May 4.
"PORTER, DAVID
1845, p. 464
Authorized to construct lateral roads, April 10.
*PORT KENNEDY (MONTGOMERY Co.)
1859, p. 706
Act of incorporation, March 8.
*POTTSVILLE & MINERSVILLE
1859, p. 722
Act of incorporation, May 7.
POTTSVILLE & DANVILLE
1836, p. 674
Relative to increase of stock, June 16.
"
"
1850, p. 734
Relative to appropriation, May 10.
"
"
1854, p. 692
Relative to the guaranty of interest, May 9.
*POTTSVILLE & TUSCARORA
1840, p. -
Act to incorporate, April 28.
*PLYMOUTH
1836, p. 109
Act of incorporation, April 18.
"
1857, p. 140
Authorized to extend road, March 28.
"
1859, p. 195
Supplement to act of incorporation, March 22.
QUAKAKE
1857, p. 324
Act of incorporation, April 25.
"
1859, p. 200
Supplement to act of incorporation, March 22.
"QUINNS RUN & COAL
1836, p. 658
Act of incorporation, June 15.
*RAILWAY Dock
1827, p. 296
Act of incorporation, April 13.
READING & LEHIGH
1856, p. 302
Act of incorporation. March 9.
"
"
1857, p. 106
Supplement to act of incorporation, March 18.
"
"
1857, P. 368
Changed to East Pennsylvania, April 21.
*READING & BRANDYWINE
1836,p. 5
Act of incorporation, January 12.
*READING & COLUMBIA
1857, p. 591
Act of incorporation, May 19.
Digitized by Google
532
PENNSYLVANIA-RAILROAD LAWS.
Corporate Titles.
Laws.
Abstracts of Laws.
*READING & COLUMBIA
1858, p. 831
Time of commencing extended, April 15.
"READING, FREDERICKSBURG & Susq.
1836, P. 684
Act of incorporation, June 16.
*REEVES, BUCKS & Co
1850, p. 22
Authorized to construct a railroad, March 14.
*RED RUN COAL
1842, p. 24
Changed from the old Lycoming Navigation
Railroad and Coal Co., February 19.
*RICHMOND
1836, p. 467
Act of incorporation, April 1.
RICHMOND & SCHUYLKILL
1859, p. 241
Act of incorporation, March 26.
RIDGE AVE. & MANAYUNK PASS'ER.
1859, p. 264
Act of incorporation, April 28.
*Rock CABIN & LANGASCOOTOCK
1831, p. 459
Act of incorporation, April 4.
"
is
"
1833, P 166
Supplement to act of incorporation. April 6.
"
"
"
1835, p. 536
Commissioners appointed, April 15.
"
"
"
1851, p. 442
Charter extended, April 12.
"
"
"
1854, p. 570
Authorized to borrow money, April 14.
*Rousch CREEK
1831, p. 364
Act of incorporation, April 2.
"
"
1833, p. 263
Time of commencing work extended, April 8.
"
"
1836, p. 428
Supplement to act incorporating, April 1.
"
"
1840, p. 602
Supplement to act incorporating, June 5.
"SCHUYLKILL
1845, p. 471
Act of incorporation, April 15.
"
1846, p. 140
Supplement to act of incorporation, March 18.
"
1852, p. 482
Relative to commissioners, April 29.
"SCHUYLKILL & DAUPHIN IMPROVE'T
1855, p. 144
Changed from Williams Valley Railroad Min-
ing Company, May 7.
*SCHUYL. EAST BRANCH NAVIGATION
1828, p. 414
May build a RR. instead of canal April 14.
"
"
"
"
1829, P. 309
Supplement to act incorporating, April 23
"SCHUYL. HAVEN & LEHIGH RIVER
1856, p. 782
Act of incorporation, June 19.
"
"
"
"
1859, p. 199
Time for commencing extended, March 22.
*SCHUYLKILL & LEHIGH
1856, p. 782
Act of incorporation, April 19.
*SCHUYLKILL RR. & MINING
1852, p. 428
Changed from the old Offerman Railroad and
Mining Company, July 26.
SCHUYLKILL VALLEY NAVIGATION
1828, p. 417
Act of incorporation, April 14.
1.
"
"
1832, p. 253
Supplement to act of incorporation, April 3.
"
"
"
1834, p. 532
Authorized to make slack water navigation,
April 15.
"
"
"
1840, p. 494
Authorized to sell, April 28.
"
"
"
..
1844, p. 261
Supplement to act of incorporation, April 12.
"
"
"
:
1845, p. 8
Relative to road between Middleport and Tus-
carora, January 24.
"
"
"
1847, p. 146
May increase capital stock, February 24.
"
"
"
1849, P. 617
Time of completing 2d track extended, Ap. 10.
"
"
"
1854, p. 424
Relative to increase of stock, April 9.
SCHUYLKILL VALLEY
1859, P. 113
Authorized to extend road, March 8.
*SCRANTON, SELDEN & OTHERS
1848, p. 347
Authorized to construct road, April 5.
SECOND & THIRD STREET PASSEN-
GER (PHILADELPHIA)
1858, p. 240
Act of incorporation, April 10.
"
14
"
"
1859, p. 558
Supplement to act of incorporation, April 13.
SEVENTEENTH & NINETEENTH Sr.
PASSENGER (PHILADELPHIA)
1859, p. 711
Act of incorporation, April 12.
*SHAMOKIN, MAHONOY & SCHUYLKILL
1844, P 440
Act of incorporation, April 27.
SHAMOKIN VALLEY & POTTSVILLE
1858, p. 170
Act of incorporation, March 25.
SHERMANS VALLEY & BROAD Top
1857, p 583
Act of incorporation, May 12.
"SHREWSBURY
1839, p. 143
Act of incorporation, March 25.
"SINEMAHO NING & PITTSBURG
1854, p. -
Act of incorporation, March 30.
"
1859, p. 360
Time of commencing extended, April 6.
*Soure MOUNTAIN
1854, p. 698
Act of incorporation, May 5.
"
"
1855, p. -
Authorized to borrow money, March 9.
"
"
1859, p. 167
Supplement to act of incorporation, March 17.
SOUTHWARK
1831, p. 353
Act of incorporation, April 2.
"
1836, p. 86
Supplement to act of incorporation, March 14.
"
1849, p. 389
Authorized to construct branch road, April 5.
*STATE LINE
1853, p. 834
Act of incorporation, April 18.
*STRAFFORD COAL
1841, p. 39
Authorised to construct road, February 26.
*SUSQUEHANNA & DEL. CANAL & RR.
1828, p. 487
Act of incorporation, April 15.
"
"
"
"
1831, p. 35
Supplement to act of incorporation, Jan. 25.
"
"
"
"
1843, p. 211
Authorized to make temporary railroad, Ap 12.
"
"
"
"
1848, p. 510
Relative to tolls, April 11.
"
"
"
"
1850, p. 212
Authorized to purchase coal lands, March 14.
*SUSQUEHANNA & ERIE
1852, p. 720
Act of incorporation, April 15.
SWATARA
1840, p. 252
Time extended for completion, April 21.
Digitized by
Google
PENNSYLVANIA-RAILROAD LAWS.
533
Corporate Titles.
Laws.
Abstract of Laws.
SWATARA
1852, p. 451
Authorized to receive tolls, July 3.
"
1857, p. 294
Supplement to act of incorporation, April 22.
*SWATARA & GOOD SPRING CREEK
1833, p. 361
Act of incorporation, April 2.
"
"
is
"
p. 263
Time of commencing extended April 8.
"
"
"
"
1833, p. 104
Supplement to act of incorporation, March 2.
"
"
"
"
1836, p. 428
Time of commencing extended, April 1.
"
"
"
"
1838, p. 151
May extend road, March 2.
"
u
"
"
1846, p. 343
Time of completion extended, April 15.
"
"
"
"
1848, p. 361
Authorized to put motive power on road, and
to construct branch road, April 6.
"
"
"
"
1853, p. 351
Supplement to act incorporating, April 8.
"
u
"
"
1853, p. 490
May construct a branch road, April 18.
as
"
"
"
1853, p. 621
May extend road, April 20.
STRASBURG
1832, p. 564
Act of incorporation, June 9.
"
1851, p. -
Supplement to act of incorporation, April 5.
"
1855, P. 367
Relative to voting, April 27.
"SUMMIT BRANCH
1846, p. 713
Act of incorporation, March 20.
"
"
1850, p. 52
Supplement to act of incorporation, Feb. 20.
"
"
1852, p. 526
Authorized to borrow money, May 3.
"
"
1853, p. 257
Supplement to act incorporating, March 13.
SUNSURY & ERIE
1846, p. 112
Time of completion extended, February 12.
"
"
1846, p. 131
New election authorized, March 14.
"
"
1847, p. 351
Supplement to act of incorporation, March, 15.
"
"
1852, p. 42
Supplement to act of incorporation, Feb. 10.
"
"
1852, p. 186
Supplement to act of incorporation, March 27.
"
"
1852, p. 599
Construction of sec. 1, act Feb. 10, '52, May 4
"
"
1853, p. 458
Authorized to borrow money, April 15.
"
"
1853, p. 546
Authorized to borrow money, etc., April 18.
"
"
1854, p. 588
Relative to extension of road, May 5.
"
"
1854, p. 646
Supplement to act of incorporation, May 8.
"
"
1855, p. 429
Supplement to act of incorporation, May 4.
SUSQURHANNA
1833, p. 418
Act of incorporation, April 9.
"
1836, p. 251
Act to incorporate revived, March 21.
"
1852, p. 428
Supplement toact of incorporation, April 24.
as
1853, p. 36
Explanatory of 3d and 4th secs. of act of 24th
April, 1852 February 4.
"
1853, p.
Relative to elections, April 18.
"
1854, p. 537
Authorizing consolidation, May 3.
If
1854, p. 539
Explanatory of act of consolidation, May 3
"
1854, p. 383
Supplement to act incorporating, April 17.
"
1855, p. 520
Explanatory of Act of consolidation, May 8.
"
1859, p. 527
Supplement to act incorporating, April 12.
THIRTEENTH & FIFTEENTH STREETS
PASSENGER (PHILADELPHIA)
1859, p. 429
Act of incorporation, April 8.
*THE BROAD MOUNTAIN COAL RR
1842, p. 93
Changed from Howeltown Coal Co., April 15
*THE RICHMOND
1836, p. 467
Act of incorporation, April 1.
TIOGA RR. & COAL
1828, p. 316
Act of incorporation, April 12.
"
"
1851, p. 211
Relative to laws, March 18.
"
"
1851, p. 275
Relative to voting, March 29.
"
"
1852, p. 451
Authorized to extend road, March 27.
"
"
1852, p. 541
May convert bonds into stock, May 3.
"
"
1853, p. 684
Authorized to borrow money, May 20.
"
"
1853, p. 204
Authorized to borrow money, March 31.
TIOGA NAVIGATION
1828, p. 80
Authorized to construct a railroad, Feb. 7.
"
"
1833, p. 156
Authorized to extend road, April 4.
*T10GA & SEELY CREEK
1838, p 96
Act of incorporation, March 17.
"TOWANDA & FRANKLIN
1836, p. 473
Act of incorporation, April 2.
"
"
1853, p. 807
Laws of 1854. Act to incorporate, April 9.
"
"
1854, p. 255
Supplement to act of incorporation, April 3.
"TOWANDA RR. & COAL
1839, p. 269
Act of incorporation, June 12.
"
"
1841, p. 103
Authorized to make canal, March 25.
"TREMONT & MOUNT EAGLE
1853, p. 650
Relative to stock, April 29.
TREVORTON COAL & RR
1859, p. 370
Relative to election of directors, April 5.
TREVORTON, MAMONOY & SUSQUEH'A
1850, p. 502
Act of incorporation, March 22.
"
"
"
1853, p. 403
Relative to principal office, April 14.
"
"
"
1856, p. 197
Authorized to borrow money, March 24.
*TUSCARORA & COLD RUN TUNNEL
1830, P. 234
Act of incorporation, April 6.
"
"
"
"
1832, p. 540
Supplement to act of incorporation, May 7.
Digitized by Google
534
PENNSYLVANIA-RAILROAD LAWS.
Corporate Titles.
Laws.
Abstracts of Laws.
*TUSCARORA & COLD RUN TUNNEL
1836, p. 665
Relative to shares, June 15.
"
"
"
"
1838, p. 200
Time for commencing extended, March 31.
TYRONE & Lock HAVEN
1857, p. 122
Act of incorporation, February 21
"
"
"
1859, p. 15
Supplement to act of incorporation, Feb. 1.
TYORNE & CLEARFIELD
1857, p. 351
Authorised to borrow money, April 28.
"
"
1859, p. 424
Authorized to borrow money, April 11.
*UNION RR. & MINING
1839, p. 290
Act of incorporation, June 12.
"
"
1846, p. 393
Time for completion extended, April 8.
"
"
1853, p. 792
Laws of 1854. Charter extended, March 11
*UNION
1859, p. 218
Act of incorporation. March 23.
"
1859, p. 534
Supplement to act of incorporation, April 12.
VENANGO
1853, p. 257
Act of incorporation, Murch 13.
"
1853, p. 644
Supplement to act of incorporation, April 20
"
1854, p. 700
Relative to payment of witnesses, May 9.
"
1859, p. 757
Time for commencing extended, April 19.
"WALLENPAUPACK IMPROVEMENT
1830, p. 357
Act of incorporation, April 7.
WARREN
Incorporated under laws of N. Jersey.
86
1852, p. 420
May build bridge over Dela. River, April 23
"WARREN & PINE GROVE
1836, p. 87
Act of incorporation, March 14.
"
"
1838, p. 658
Relative to subscriptions by U.S., April 16
"
"
"
1847, p. 270
Time for commencing extended, March 8.
"
"
"
1847, p. 493
Relative to damages, March 9.
"
"
"
1853, p. 101
Act of incorporation revived, February 23.
ASHINGTON
1837, p. -
Act of incorporation, April 4.
WASHINGTON & MARYLAND LINE
1856, p. 775
Act of incorporation, April 12.
*WASHINGTON & PITTSBURG
1831, p. -
Act of incorporation, March 18.
"
"
1846, p. 481
Supplement to act of incorporation, April 22
*WEST BRANCH FRANKLIN
1839, p. 401
Act of incorporation, June 24.
WEST CHESTER
1831, p. 74
Act of incorporation, February 18.
"
"
1833, P 260
Authorized to construct branch road, April 8
"
"
1836, p. 251
May extend road into borough, March 31.
"
"
1838, p. 467
Act for relief, April 16.
"
"
1839, p. 682
Act as to settlement of accounts, June 20
at
"
1842, p. 477
Canal commissioners authorised, March 11.
"
"
1842, p. 3
Relative to State tolls, Sept. 6.
"
"
1844, p. 467
Supplement to act incorporating, April 27.
"
"
1858, p. 372
Supplement to act incorporating, April 21
WEST CHESTER & PHILADELPHIA
1848, p. 916
Act of incorporation, April 11.
"
"
"
1850, p. 467
Supplement to act of incorporation, April 15
"
"
1853, p. 2
Relative to managers, January 7.
"
"
1853, p. 30
Relative to issue of bonds, January 29.
"
"
"
1853, p. 708
Authorized to make bridges, March, 23.
"
"
"
1853, p. 609
Relative to stock, April 20.
"
"
"
1854, p. 118
Supplement to act of incorporation, Feb. 27
"
"
"
1854, p. 662
Relative to damages, etc., May 8.
"
"
"
1855, p. 157
Supplement to act of incorporation, March 30
"
"
"
1856, p. 750
Time extended for completion, February 6.
"
"
"
1857, p. 85
Supplement to act of incorporation, March 11
"
"
"
1857, p. 558
Authorizing payment of mortgages, May 16.
"
=
"
1858, p. 233
Repeals act of May 16, 1857, April 8.
*WEST CHESTER EXTENDED
1833, p. 460
Act of incorporation, April 9.
*WEST CHESTER & PORT DEPOSIT
1835, p. 15
Act of incorporation, April 15.
WEST PHILADELPHIA
1837, p. -
Loan to.
"
"
1838, p. 696
May extend road across Schuylkill, April 17.
"
"
1840, p. 713
Time for completion extended, April 1.
"
"
1851, p. 684
Appropriation, April 15.
"
"
1859, p. 445
Supplement to act of incorporation. April 11.
WEST PHILADELPHIA PASSENGER
1858, p. 226
Supplement to act of incorporation, April 8.
*WESTERN TRANSPORTATION
1856, p. 762
Laws of 1857. Act of incorporation, Mch. 15.
WILLIAMSPORT & ELMIRA
1832, p. 564
Act of incorporation, June 9.
"
"
1835, p. -
Supplement to act of incorporation, April 15.
"
"
1836, p 253
Authorized to carry U.S. Mail, March 31.
"
"
1838, p. 150
Authorized to enter upon land, March 20.
"
"
1839, p. 346
Authorized to borrow money, June 20.
"
"
1841, p. 242
Time for commencing extended, April 21.
46
"
1843, p. 386
Relative to tolls, April 4.
"
"
1848, p. 2
Creditors to continue use, January 6.
"
"
1849, p. 430
Court authorized to sell road, April 5.
Digitized by Google
PENNSYLVANIA-RAILROAD LAWS.
535
Corporate Titles.
Laws.
Abstracts of Laws.
WILLIAMSPORT & ELMIRA
1850, p. 633
May increase capital stock, April 30.
"
"
1851, p 128
May convert interest into stock, March 11.
"
"
1851, p. 667
Supplement to act of incorporation, April 15
"
"
1853, p. 464
Supplement to act of incorporation, April 18.
"
"
1856, p. 231
Authorised to borrow money, March 31.
"
"
1859, p. 598
Authorizing Auditor to correct accounts, Ap. 13.
WILKESBARRE & LEHIGH
1837, p. -
Act of incorporation, March 14.
*WILKESBARRE & SCRANTON
1851, p. 70
Act of incorporation, April 15.
"
"
1857, p. 394
Relative to tolls, May 4.
"Williams VALLEY RR. & MINING
1839, p. 221
Act of incorporation, May 25.
"
"
"
1849, p. 483
Supplement to act of incorporation, April 7
"
"
"
1851, p. 447
Repeals sec. 3 of act of 1849, April 12.
"
"
"
1855, p. 143
Laws of 1857. Supplement toact incorporating,
and changing name to Schuylkill & Dauphin
Improvement, May 7.
*WILLARDSBURG & JERSEY SHORE
1836, p. 279
Act of incorporation, March 13.
"
"
"
1838, p. 154
May extend road to Warren, March 26.
*WRIGHTSVILLE, NEW HOLLAND &
CONEWAGO
1853, p 732
Act of incorporation, April 9.
"
"
"
1858, p. 829
Laws of 1859. Supplement, March 2.
WRIGHTSVILLE, YORK & GETTYSBURG
1835, p. -
Act of incorporation, April 15.
"
"
"
1838, p. 657
State may subscribe stock to, and relative to
damages on, April 16.
"
"
"
1839, p. 641
Time of commencing extended, February 27
"
"
"
1841, p. 233
Authorised to construct road branch, April 21.
*WYOMING GRAVITY
1859, p. 814
Name changed from Delaware, Lehigh and
Wyoming Valley Railroad, April 16.
*WYOMING & LEHIGH
1833, p. 134
Act of incorporation, April 4.
"WYOMING & SUSQUEHANNA VALLEY
(OLD MOUNTAIN COAL)
1856, p. 794
Authorized to construct a railroad, May 13.
YORK & CUMBERLAND
1846, p. 568
Act of incorporation, April 21.
"
"
1851, p. 463
Supplement to act of incorporation, April 12.
"
"
1853, p. 219
Supplement to act of incorporation, March 23
"
"
1854, p. 537
Authorising consolidation, May 3.
"
"
1854, p. 759
Explanatory of act of consolidation, May 3.
"
"
1855, P 520
Explanatory of act of consolidation, May 8
YORK & MARYLAND LINE
1833, p. 122
Act of incorporation, March 14.
"
"
"
1834, p. 471
Supplement to act incorporating, April 15
"
"
"
1835, p. -
Supplement to charter, April 3.
"
"
"
1840. p. 636
Act to equalise tolls, June 11.
"
"
"
1853, p. 450
Supplement to act of incorporation, April 15
"
"
"
1854, p. 537
Authorizing consolidation, May 3.
"
"
"
1854, p. 539
Explanatory of act of consolidation, May 3
"
"
"
1855, p. 520
Explanatory of act of consolidation, May 8
Digitized by
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CANALS OF THE STATE IN DETAIL.
LEHIGH COAL AND NAVIGATION COMPANY.
(Financial year ending 31st December, 1859.)
BOARD OF MANAGERS AND OFFICERS, 1859-'60.
Erskine Hazard
Philadelphia, Pa.
Andrew Manderson
Philadelphia, Pa.
John Farnum
"
"
James S. Cox
"
"
Henry J. Boller
"
"
Jacob P. Jones
"
"
Richard Richardson
"
"
Francis C. Yarnall
"
"
Alexander Fullerton
"
"
Samuel E. Stokes
"
"
JAMES Cox, President
Philadelphia, Pa.
EDWIN WALTER, Treasurer and Secretary
"
"
J. LEISENRING, Superintendent and Engineer
Mauch Chunk, "
PRINCIPAL OFFICE
PHILADELPHIA, Pa.
LENGTH OF NAVIGATION-Stoddardsville to Easton
84.57 miles.
Divided into sections with lockage, dams, etc.-(according to the latest published
statement of the Company) follows :-
Kinds of
Length
No.
of
No.
of
Size of
Size of Lift of Height
Navigation.
in Miles.
Locks.
Dams.
Canals.
Locks. Locks. of Dams. Total Rise.
Slackwater-from
10.00 pools.
)
60 to 65 ft. top.
22 ft.
6 ft.
8 ft.
the Delaware R.
34.58 canals.
46
8
45 ft. bottom.
by
to
to
360.87 ft
to Mauch Chunk
1.64 locks.
E ft. deep.
100 ft.
13 ft.
191 ft.
Slackwater-from
20.53 pools
60 ft. top.
20 ft.
10 ft.
16 ft.
Mauch Chunk to
4.67 canals.
29
20
40 ft. bottom.
by
to
to
599.83 ft.
Wright's Creek.
0.85 locks.
5 ft. deep.
100 ft.
30 ft.
68 ft.
Channels-descend
22 ft.
3 ft.
6 ft.
ing navigation,
12.30.
3
3
18 in. deep.
by
to
to
Wright's Ck. to
336.00 ft.
100 ft.
4 ft.
13 ft.
Stoddardsville.
Total
84.57
78
31
1,296.70 ft.
LENGTH OF RAILROAD-Whitelaven, on the Lehigh, to Wilkesbarre, on
the Susquehanna, (double track)
19.71 miles.
LENGTH OF MINE RAILROAD-Main Line, Mauch Chunk to Summit Hill 6 25 miles.
Branch Lines to the various mines
20.00 "
EQUIPMENT-The Reports of the Company give no statement of the amount or cost
of the Equipment upon the works.
The Lehigh Coal and Navigation Company was organized on the 1st May,
1821, being a consolidation of the Lehigh Coal Company and the Lehigh
Navigation Company. As early as 1793 a company was incorporated for
the purpose of working the Lehigh coal fields. Purchases of land were
made, and £10 were appropriated to open the necessary outlet to the Lehigh
River and to a market. The cost of transportation was 80 great that the
objects of the company were for the time abandoned, and the property was
leased to other parties. In 1818 the lessees formed a new company with a
capital of $55,000, for the improvement of the navigation of the Lehigh
River, 80 as to allow the passage of boats laden with coal. The amount
sent to market that year, which may be regarded as the commencement of
the Anthracite Coal trade, was 365 tons. The coal was floated down in rude
boats or arks, which were broken up on reaching Philadelphia. In 1823 the
536
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PENNSYLVANIA-LEHIGH COAL AND NAVIGATION.
537
stock of the Company was increased to $500,000, and the river rendered
navigable sixteen miles above Mauch Chunk. This improvement was mainly
for the purpose of reaching valuable forests of pine. In 1827 the Mauch
Chunk (Gravity) Railroad, the second railroad in the United States, was
opened. The same year the State having determined upon the construction
of the Delaware Division of the Pennsylvania Canal, the Company deter-
mined to commence the construction of slack water navigation, which was
completed in 1829, with an available depth of five feet. In 1831 the Gravity
Road to the Room Run mines, and in 1835 the extension of the works of the
company to the Beaver Meadow Region was commenced, and completed in
1838. The Lehigh and Susquehanna Railroad was commenced in 1837,
and completed in 1840. Up to 1841 the Company was prosperous, paying
dividends annually. In that year its works were greatly injured by freshets.
The cost of repairing them and of enlarging the canal to a depth of six feet
involved the company in embarrassment, which resulted, in 1842, in placing
its property in trust for the benefit of the creditors. The mortgage pro-
vided that no dividends should be paid SO long as the principal or interest of
any of the loans of the Company were due and unpaid. and in no case to
exceed six per cent.-the balance to be held as a sinking fund for the
redemption of the loans not due. No dividends were paid from 1st Jan.,
1840, to 1st July, 1852, a period of twelve years. In that year 6 per cent.
was paid, and at the same rate and for each year since that time. The results
of the operations of the canal since the execution of the first deed will be
seen in the profit and loss account of the company. No detailed statement
of earnings and expenses previous to 1845 could be obtained.
SHARE CAPITAL-Authorized, $2,500,000, in 50,000 $50 shares.
Paid in, - $2,479,950, on 49,599
"
FUNDED DEBT-$3,619,254: classified as follows—
1st Mortgage, 6 per cent., bonds
$829,172
-dated 1st March, 1841, and payable, principal 1st March, 1861, and inter-
est semi-annually, 1st March and 1st September, at Philadelphia. Will be
paid on demand in anticipation of maturity, principal and interest.
Unsecured, 6 per cent., bonds
$2,773,726
-dated 1st March, 1850, and payable, principal 1st March, 1870, and in-
terest semi-annually, 1st March and 1st September, at Philadelphia.
Other unsecured, 6 per cent., bonds, duted and due at various times
$16,356
FLOATING Девт—$265,823
COST OF CANAL AND RIVER IMPROVEMENTS
$4,455,000
COST OF LEHIGH AND SUEQUEHANNA RAILROAD
1,380,000
Cosr OF REAL ESTATE, MINE-ROADS, WHARVES, ETC. 1,453,789-$7,288,789
INCOME ACCOUNT FOR THE YEAR ENDING 31sT DECEMBER, 1859.
Dr.
Cr.
State tax on capital, 1859
$7,442
Balance 1st January, 1859
$2,900,054
Interest on debt
159,276
Water-rents, ground-rents and gain
Improvement & repairs of navigation
57,331
by sale of town lots in 1859
31,611
Lehigh and Susquehanna Railroad
32,993
Profit on coal, including mine rents.
186,609
Dividend, 3 per cent., 24th May, 1859.
74,398
Tolls, 1859, less collection expenses
454,463
"
"
22d. Nov., 1859.
74,395
Balance to credit of profit and loss
3,166,899
Total
$3,572,737
Total
$3,572,737
68
Digitized by
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538
PENNSYLVANIA-LEHIGH COAL AND NAVIGATION.
GENERAL STATEMENT 1ST January, 1860.
Dr.
Cr.
Canal and river improvements
$4,455,000
Share capital
$2,479,950
Lehigh and Susquehanna Railroad
1,380,000
Mortgage loans
829,172
Real estate, coal and other lands, mine
Common loans
2,790,082
railroads, etc., wharves and land-
Floating debt
265,823
ings at Philadelphia, etc
1,453,789
Unpaid dividends
5,757
Debts, bills receivable, bonds, mort-
Unpaid interest
54,514
gages, etc
1,071,490
Balance to Profit and Loss
3,166,898
Contingent Fund-cost of investment.
1,210,254
Cash on hand
21,663
Total
$9,592,196
Total
$9,592,196
The net earnings for fifteen years have been $8,053,668. The dividends
paid in the meantime have been $1,101,365. The balance, after the payment
of interest, has gone to the profit and loss account, and is held by the con-
tingent fund.
The investments of the contingent fund are at par as follows :-Pennsyl-
vania State 5s, $400,000; Pennsylvania RR. 2d mortgage bonds, $200,000:
Lehigh Crane Iron Company's bonds, $300,000; North Pennsylvania Rail-
road 1st mortgage bonds, $100,000; Lehigh Valley Railroad 1st mortgage
bonds, $16,000; Delaware Railroad 1st mortgage bonds, $10,000; Lehigh
Coal and Navigation Company's 6 per cent. 1st mortgage bonds, $436,335.
Total, $1,462,335.
There are chargeable against the balance standing to the credit of Profit
and Loss Certificates of " Scrip Shares" issued as recommended by resolu-
tion passed at, the meeting of the stockholders held 1st May, 1855, as follows:
1855
Certificates for 9,905 shares
$495,250
1856
"
for 11,882
"
Which when converted into
594,100
1857
"
for 14,273
"
stock will amount respec-
713,650
tively to-
Total
36,060
$1,803,000
This " Scrip," however, is unavailable to the holders, the mortgage for 1842
forbidding larger dividends than 6 per centum per annum. This disability the
Company now proposes to overcome by the immediate payment of the bonds
due in 1861, with a view to enable the stock and scrip holders to realize the
full benefits earned by its property and works. The several issues were 20,
25 and 30 per cent. on the present share capital, and were made prospectively
as extra dividends.
SUMMARY OF THE LIABILITIES AND ASSETS OF THE LEHIGH COAL AND Navi
GATION COMPANY, FROM 1ST JANUARY, 1853, TO 1ST January, 1860.
1853.
1854.
1855.
1856.
1857.
1858.
1859.
1860.
Liabilities
8
8
$
$
8
$
8
$
Capital stock
1,569,800
1,985,850
2,474,600
2,475,900
2,479,700
2,479,900
2,479,900
2,479,950
Common Loans
4,353.827
4,050,554
3,586,078
3,091,498
3,091,498
3,091,498
2,790,082
2,790,082
Mortgage Loan
929,342
837,492
832,792
831,792
829,422
829,222
829,222
829,172
Floating Debt
364,933
332,049
373,150
316.495
322,512
286,202
231,531
265,823
Unpaid divid
3,823
3,504
4,246
4,307
4.364
7,210
6,651
5,757
Arrears of int.
74,813
67,284
58,634
54,300
53,523
52,048
53,716
54,514
Profit and Loss
907,996
1,164,673
1,689,955
2,252,686
2,548,964
2,704,983
2,900,054
3,166,898
Assets-
Canal improv'ts 4,455,000 4,455,000 4,455,000 4,455,000 4,455,000 4,455,000 4,455,000 4,455,000
Lehigh & Sus. RR
1,380,000
1,380,000
1,380,000
1,380,000
1,380,000
1,380,000
1,380,000
1,380,000
Real estate
1,307,877 1,280,998 1,281,901 1,334,927 1,406,654 1,428,971 1,453,273 1,453,789
Debts due to Co.
661,218
749,762
850,030
900,269
1,074,296
1,179,232
942,339
1,071,490
Contingent F'd
351,710
500,148
995,367
906,126
968,067
957,191
983,139
1,210,254
Cash on hand
48,730
75,497
57,157
50,836
45,966
50,669
77,405
21,663
Total
8,204,534 6,441,405 9,019,455 9,027,158 9,329,993 9,451,063 9,291,156 9,592,196
Digitized by
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PENNSYLVANIA-LEHIGH COAL AND NAVIGATION.
539
For the year 1859, the shipments of coal were from the following points
of delivery, and in the following quantities, viz :
Tons.
Tons.
Shipped at Mauch Chunk from-
Shipped at Penn Haven from
Company's Summit Mines
402,030
Hazleton Mines
153,343
"
Room Run
51,859
Council Ridge
36,191
"
East Lehigh
36,651
Mount Pleasant
18,230
"
Tunnel No. 2
71
E. Sugar Loaf
28,435
Harleigh
192
Total from Mauch Chunk
490,611
Shipped at East Mauch Chunk from-
Total from Penn Haven
236,391
Spring Mountain Mines.
30,346
Shipped at Rockport from-
Colerain
21,450
Buck Mountain Mines
101,851
New York and Lehigh
11,195
Shipped at White Haven from-
German Pennsylvania.
45,290
Franklin Coal Co's Mines
25,255
S. Spring Mountain
996
Hartford Co's
18,832
N.Spring Mountain
31,609
Audenreid
26,415
Beaver Meadow
5,334
Stafford Brook
322
Pea and dust coal
4,185
Hancock
575
Total from East Mauch Chunk
150,407
Total from White Haven
71,399
-making a total shipment on the company's navigation of 1,050,659 tons.
In addition to the above there were taken from the company's mines at
Tamaqua 56,205 tons. The distribution of the coal was as follows :
Tons.
Consumed on the line of the Lehigh Canal
188,779
Passed over into the Morris Canal at Easton
255,404
Went into the Delaware Division Canal
600,506
Of the coal that entered the Delaware Division Canal, 263,745 tons
reached Bristol; 301,419 tons passed, by the outlet lock at Wells' Falls,
into the navigable feeder of the Delaware and Raritan Canal ; leaving 41,342
tons as the quantity consumed on the line of the Delaware Division Canal.
STATEMENT of the amount of coal transported on the Lehigh Navigation from the com-
mencement of operations in 1820 to the present time:
Year.
Tons.
Year.
Tons.
Year.
Tons
Year.
Tons.
1820
365
1830
41,750
1840
225,318
1850
690,456
1821
1,073
1831
40,966
1841
143,037
1851
964,224
1822
2,240
1832
70,000
1842
272,546
1852
1,072,136
1823
5,823
1833
123,000
1843
267,793
1853
1,054,309
1824
9,541
1834
106,244
1844
377,002
1854
1,207,186
1825
28,393
1835
131,250
1845
429,453
1855
1,275,050
1826
31,280
1836
148,211
1846
517,116
1856
1,186,230
1827
32,074
1837
223,902
1847
633,507
1857
900,462
1828
30,232
1838
213,615
1848
670,321
1858
909,464
1829
25,110
1839
221,025
1849
781,656
1859
1,052,238
1st 10 years
166,131
2d 10 years
1,319,963
3d 10 years
4,317,749
4th 10 years.
10,311,755
Average
16,613
Average
131,996
Average
431,775
Average
1,031,175
-making for the forty years embraced 16,115,598 tons, or a yearly average of 402,889 tons.
STATEMENT of the total tonnage (including coal) ascending and descending the Lehigh
Navigation for the years named:
Year.
Ascending.
Descending.
Total.
Year.
Ascending.
Descending.
Total.
1845
30,336
500,011
530,347
1853
99,523
1,246,705
1,346,228
1846
37,861
605,525
643.396
1854
120 644
1,398,638
1,519,282
1847
55,412
741,506
796,918
1855
98,147
1,445,499
1,543,646
1848
60,821
782,218
843,039
1856
138,965
1,343,921
1,492,886
1849
57,537
906,423
963,960
1857
98,580
1,042,070
1,140,650
1850
54,753
630,030
884,783
1858
91,786
1,034,974
1,126,760
1851
62,415
1,100,391
1,162,806
1859
116,744
1,190,374
1,307,118
1852
80,969
1,173,048
1,254,017
15 years
1,204,493
15,341,343
16,545,836
Average
80,299
1,022,756
1.103,035
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540
PENNSYLVANIA-SCHUYLKILL NAVIGATION.
COST OF WORKS, ETC., EARNINGS, EXPENSES, ETC. YEARLY
Cost of road,
Miles Tolls. less
Profit of
Water
canal,
of road
cost
coal and
and
Repairs
Earnings,
Dividend
Year.
coal lands,
and
of
rent of
ground
Total
and
less
$
p.c.
etc.
canal.
collection.
mines.
rents, etc.
earnings.
renewals.
expenses.
1845.
$6,629,891
93
$176,050
$161,889
$35,957
$373,896
$39,488
$334,408
nil.
ni'.
1846.
6,821,975
93
232,672
198,132
57,200
488,004
73,269
414.735
"
"
1847.
7,017,665
93
292,553
230,516
52,347
575,416
102,906
472,510
"
"
1848.
7,160,033
93
308,894
132,117
32,710
473,721
102,790
370,931
"
"
1849.
7,172,290
93
353,302
192,114
29,807
575,223
83,482
491,741
"
"
1850.
7,188,228
93
353,131
221,219
32,826
607,176
179,852
427,324
"
"
1851.
7,182,249
93
428,566
185,079
31,565
645,210
248,172
397,038
"
"
1852.
7,142,876
93
486,555
202,563
33,881
722,999
153,366
569,633
90,213
6
1853.
7,015,998
93
550,055
225,610
29,050
804,715
134,259
670,456
119,133
6
1854.
7,116,901
93
685,097
378,821
26,734
1,090,652
167,136
923,516
146,378
6
1855.
7,169,927
93
735,278
252,769
31,224
1,019,271
209,125
810,146
148,518
6
1856.
7,241,654
93
699,626
137,889
27,142
864,657
237,176
627,481
148,744
6
1857.
7,263,971
93
481,472
81,787
30,031
593,290
127,126
466,164
148,791
6
1858.
7,288,273
93
466,212
105,592
24,053
595,857
92,197
503,660
148,794
6
1859.
7,288,789
93
454,463
186,609
31,616
672,688
97,763
574,925
148,794
6
15
ys.
106,699,920
1,395
6,703,926
2,892,706
506,143
10,102,775
2,049,107
8,053,668
1,101,365
Aver..
7,113,328
93
446,928
192,847
33,743
673,518
136,607
536,911
SCHUYLKILL NAVIGATION.
(Financial year ending 31st December, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1860.
John R. Worrell
Philadelphia, Pa.
Joseph Jones
Philadelphia, Pa.
Eli K. Price
"
"
Joseph B. Townsend
"
"
Thomas T. Lea
"
"
Richard Randolph
"
"
Richard D. Wood
"
"
Joseph Swift
"
"
Thomas Williamson
"
"
George Patterson
"
"
William Harmar
"
"
Benj. Gerhard
"
"
FREDERICK FRALEY, President
Philadelphia, Pa.
CHARLES W. Bacon, Treasurer
"
"
JAMES F. SMITH, Chief Engineer
"
"
PRINCIPAL OFFICE
PHILADELPHIA, Pa.
LENGTH OF CANAL-Philadelphia to Port Carbon
108.50 miles.
The Schuylkill Navigation Company. one of the earliest of the kind in the United
States, was incorporated on the 15th March, 1815, with a capital of $500,000.
The work of construction was commenced in 1816, and completed between
Philadelphia and Reading in 1824, and between Reading and Port Carbon in
1825. The canal as originally constructed was 36 feet wide and 4 feet deep,
with locks 13 feet 6 inches in width by 80 feet in length. Its capacity
was for boats of about 30 tons burden. Sixty-three miles of the improvement
was canal and 45 of slack water navigation. An enlargement was soon after
commenced which was completed in 1832, and which allowed the passage of
boats of 80 tons burden. In 1845, in consequence of dangerous rivalry
with which the company was threatened by the competition of the Reading
Railroad, it was determined again to enlarge the capacity of the canal. This
enlargement was completed in the latter part of September, 1846. The
width of the canal was increased to 70 feet and its depth to 6 feet-the
smallest locks constructed were 18 by 110 feet, and capable of passing boats
with cargoes exceeding 200 tons. The summit level has a total elevation
of 616 feet, which is overcome by 70 locks having an average lift of 84 feet.
The early history of this company was one of great success. The canal
Digitized by Google
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550
PENNSYLVANIA-UNION.
that of the Delaware and Schuylkill Canal Navigation, on the 10th April,
1792. The first named company was incorporated for the purpose of making
canal and lock navigation below the Schuylkill and Susquehanna, by the
waters of Tulpehoccon, Quittapahilla and Swatara, in the counties of Berks
and Dauphin; and the latter for the purpose of a canal and water communi-
cation between the Delaware and Schuylkill, for supplying the city of
Philadelphia with water, and for constructing wet and dry docks for the
accommodation of vessels entering that port.
The construction of both these works was for some time carried on under
the charge of the same engineer, and already about $200,000 had been ex-
pended on each, when for want of funds both were suspended about the
same time. The affairs of the two companies having thus become in some
measure blended, and the stock in both being principally owned by the same
stockholders, they agreed to unite them under the name of the " Union Canal
Company of Pennsylvania," and a new act of incorporation was procured.
The efforts of the new company were directed solely to the completion of
the connection between the Schuylkill and Susquehanna. That part between
the Schuylkill and Delaware, indeed, was now abandoned, a separate com-
pany having been incorporated, under the title of the Schuylkill Navigation
Company," with the design of rendering the Schuylkill completely navigable
by means of dams and side locks. The war of 1812, which followed so close
upon the re-organization of the company, put a stop to the further prosecu-
tion of the work, nor was it resumed until 1821.
The main canal was finally completed in December, 1827. In 1828
a branch was commenced, first as a feeder, but finally carried on a distance
of 22 miles, as an avenue for trade to Pine Grove, into the very heart of the
anthracite coul region. This was completed in 1832, and the transportation
of coal was commenced in the succeeding year.
The canal as originally constructed allowed the passage of boats carrying
25 tons. In 1850 an enlargement of the Western Division, from the Pine
Grove Branch to Middletown, 30 miles, and of the branch, in all 52 miles,
was commenced, and in that and the following year prosecuted to completion.
By this improvement the canal acquired a capacity for boats carrying 80
tons. In 1855 the enlargement of the Eastern Division was commenced and
in 1856 completed. To provide the means for the latter enlargement, the
company made an issue of bonds to the amount of $2,500,000, secured by a
mortgage on its property, and payable in 30 years. A portion of the means
provided had to be used in retiring a preferred stock amounting to $419,000.
The enlargement was not followed by the anticipated increase of business,
and in 1856 the company found itself unable to meet the coupons falling due
that year. These were paid by parties interested in the work, who agreed
to hold them for the benefit of the company until November, 1857. These
coupons still remain unpaid, as also all that have fallen due subsequently.
In consequence of this failure, the canal was surrendered to the mortgage
trustees in November, 1858, and by them the work is now operated.
The enlargement gave the canal a capacity equal to that of the State
canals. Its width at the top is 36 feet, with a depth of 4 feet. The ascent
from Reading to the Summit is 311 feet, overcome by 53 locks, and from the
Summit to the Susquehanna the descent is 1921 feet, with 31 locks. The
lock chambers are 90 by 17 feet.
SHARE CAPITAL-Authorized and paid in, $2,750,000, in 55,000 $50 sharos.
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PENNSYLVANIA-UNION.
551
FUNDED Девт-$2,500,000; described as follows
1st Mortgage, 6 per cent., coupon bonds
$2,500,000
-issued in 1853, and payable, principal 1st November, 1883, and interest
semi-annually, 1st May and 1st November, in Philadelphia. The interest
accrued since and including that of 1st November, 1857, remains unpaid.
FLOATING DEBT-$500,000. (Not including overdue coupons.)
INCOME ACCOUNT FOR THE YEAR ENDING 31sT DECEMBER, 1859.
Receipts-
Disbursements-
Tolls: 7,760 boats, 263,040 tons
$110,613
Schuylkill Navigation Co. :
Rents of landings, etc.
1,054
-Allowance of 20 percent. on their tolls.
$5,049
Tonnage
174
-Drawbacks allowed
2,911
Miscellaneous sources
53
Ordinary expenses
51,564
Relaying railroad
2,132
Towing boats, rent and agents
5,937
Legal expenses and costs
2,755
Land damages
1,250
Interest on coupon certificates
14,308
Principal of floating debt
19,820
Balance of earnings
6,168
Total
$111,894
Total
$111,894
The company publishes no general statement. Its total liabilities may be
put down as follows :
Share capital
$2,750,000
Overdue coupons
$375,000
Funded debt
2,500,000
Floating debt and other liabilities
500,000
-making a total of $6,125,000, which may be taken as the cost of the works.
COMPARATIVE STATEMENT OF THE BUSINESS, 1828-59.
Tons
Tolls
Tons
Tolls
Year.
transported.
received.
Year.
transported.
received.
1828
15,124
$15,512
1844
79,871
$56,580
1829
20,522
16,676
1855
102,593
60,036
1830
41,094
35,133
1846
114,920
62,682
1831
59,970
59,137
1847
139,256
91,356
1832
47,645
59,061
1848
153,222
95,953
1833
85,876
103,462
1849
148,332
86,800
1834
84,536
119,870
1850
128,438
76,269
1835
118,978
135,254
1851+
45,768
17,319
1836
117,136
133,025
1852
152,143
84,056
1837
110,032
107,590
1853
195,011
105,871
1838
126,870
123,575
1854
172,696
98.787
1839
138,568
135,163
1855
151,571
72,915
1840
115,292
110,855
1856
247,307
107,844
1841
83,624
66,601
1857
271,387
131,022
1842
83,106
57,477
1858
205,517
104,101
1843
76,959
53,538
1859
263,040
110,613
1st 16 years
1,328,332
$1,331,929
2d 16 years
2,569,072
$1,362,204
Average
83,021
83,245
Average
160,567
85,138
THE PINE GROVE COAL TRADE.
Yrs.
Tons.
Yrs.
Tons.
Yrs.
Tons.
Yrs.
Tons.
Yrs.
Tons.
Yrs.
Tons.
1833
3,500
1838
15,000
1843
22,000
1848*
64,686
1852
56,450
1856
79,965
1834
6,911
1839
20,885
1844
29,000
1849
72,156
1853
64,939
1857
71,300
1835
14,000
1840
20,500
1845
35,000
1850
62,866
1854
43,614
1858
51,564
1836
12,000
1841 19,500
1846
55,500
1851+
1855$ 43,231
1859
46,687
1837
17,000
1842 : 32,500
1847
60,499
# From November 1, 1847. to January 1, 1849, fourteen months. t Open only from Lebanon
to Reading, during enlargement of western division. 1 Open only from Lebanon to Middletown,
during enlargement of eastern division.
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552
PENNSYLVANIA-SUSQUEHANNA AND TIDE-WATER.
SUSQUEHANNA AND TIDE-WATER CANALS.
(Financial year ending 31st December, 1859.)
BOARD OF MANAGERS AND OFFICERS, 1860-61.
George W. Dobbin,
Chas. L. Oudesluys,
John Hulme,
Simon Cameron,
R.S. Cassatt,
William P. Jenks,
C. Hager,
Thomas Wilson,
William Keyser,
C. D'Invilliers,
Samuel C. Ford,
Henry James.
GEORGE W. LEUFFER, President
Baltimore, Md.
THOMAS M. ABBeTT, Treasurer
"
"
PRINCIPAL OFFICE
BALTIMORE, Md.
LENGTH OF CANAL-Wrightsville, Pa., to Havre de Grace, Md
45 miles.
Width at top
50 feet.
Fall between termini
233 feet.
"
at bottom
35 "
Lift locks (170 by 17 feet)
29 No.
Depth
5 "
Guard locks
2 "
The Susquehanna and Tide- Water Canal Companies are a consolidation of the
Susquehanna Canal Company of Pennsylvania, and the Tide-Water Canal
Company of Maryland, which were organized for the purpose of extending
the Public Works of Pennsylvania to Tide-water on Chesapeake Bay. It
was encouraged both by the States of Maryland and Pennsylvania, the for-
mer lending its credit to it to the amount of $1,000,000. It was opened in
1840.
SHARE CAPITAL-Paid in, $2,048,260.
FUNDED DEBT-$2,628,927 classified as follows—
State of Maryland, 5 per cent. sterling bonds
$1,000,000
-issued in 1839, and payable, principal in 1864, and interest semi-annually,
January and July, in London. These bonds were issued under the law of
1838, chap. 416, and are secured by a first mortgage on the company's prop-
erty. The company has not paid the interest on these bonds for 2 years past.
Coupon, 6 per cent., tonds
$993,000
-issued in 1853, and payable, principal in 1878, and interest semi-annually,
January and July, in Philadelphia or Baltimore. These bonds are secured
by a 2d mortgage. The interest on these bonds for two years past is unpaid.
Susquehanna Canal Preferred Interest bonds
$227,569
-issued in 1844, and payable, principal in 1864, and interest semi-annually,
January and July, in Philadelphia. The whole issue of these bonds was
$300,000; the balance is held by the company.
Company's bonds held by the State of Maryland
$264,925
Tide- Water Canal priority bonds
$96,516
Scrip of 1853-78
$46,916
FLOATING Девт-28,555-viz: bonds of 1842, $1,432; bonds of 1846, $138
bonds of 1847, $1,121; consolidated bonds, $844; small notes, $14,491
$100 and $50 notes, $5,750; bills payable, $1,500; 6 and 12 months'
scrip, $1,800 post notes, $1,312; due bills, $168.
CosT OF CANAL AND APPURTENANCES-$4,668,486: as follows-
Cost of canal
$4,547,173 I Maryland & Susq. Canal $120,000 I Steamer Thos. Wilson $913
Digitized by Google
PENNSYLVANNIA-MONONGAHELA NAVIGATION.
553
RECEIPTS. AND EXPENDITURES FOR THE YEAR ENDING 31sT DECEMBER, 1859
Receipts-
Expenditures-
Cash on hand 1st January, 1859
$44,141
Interest to State of Maryland
$53,000
Tolls at Wrightsville
$120,086
T. W. Can. priority interest
5,7.07
" at Havre de Grace
16,090
Susq Can. preferred interest
13,434
" Conestoga
3,363
Coupon and scrip interest
385
Towages at Conestoga
2,659
Interest on compromise bonds
397
Tolls at Weigh Lock
2.859
"
on unfunded debt
4
" at Bell's Ferry
169-145,226
Expenses, salaries, etc
47,603
Rents
655
Drawbacks
4,905
Liquidation of compromise bonds
6,959
T. W. Can notes redeemed in tolls
1,028
Balance to credit
56,600
Total
$190,122
Total
$190,122
GENERAL STATEMENT, 1ST JANUARY, 1860.
Dr.
Cr.
Cost of canal
$4,547,173
Share capital
$2,048,260
Steamboat Thomas Wilson
913
Funded debt
2,628,927
Maryland Susquehanna canal
120,400
Floating or unfunded debt
28,555
Sundry balances due
1,413
Interest due on preferred debt-
Trustees Susq. Canal Company
89,875
State of Maryland to 1st Jan., '60.
129,713
Profit and loss
124,214
Preferred bonds to 1st Jan, '60
10,492
Treasurer
56,600
Coupon bds. and scrip to 1st July,'58
1,114
Unfunded debt to 1st July, '58.
8,106
Interest due on suspended debt
83,921
Sundry amounts due
1,499
Total
$4,940,588
Total
$1,940,588
RECEIPTS FOR TOLLS SINCE THE CANALS WERE OPENED.
Havre
Conestoga.
Bell's
Years.
Wrightsville.
de Grace.
Tolls & Towage.
Ferry.
Weigh Lock.
Total
1840
$31,813
$9,745
$41,558
1841
49,359
21,391
$101
70,852
1842
44,942
19,683
2,230
66,855
1843
50,153
19,371
2,528
72,052
1944
59,561
24,314
3,031
86,906
1845
72,502
25,822
1,359
99,684
1846
80,433
28,301
1,736
110,470
1847
96,517
33,380
2,042
131,940
1848
96,242
38.451
3,778
$19
138,491
1849
108,041
43,172
4,915
100
156,272
1850
108,929
41,814
5,590
54
$878
156,965
1851
119,574
37,441
4,744
72
2,612
164,446
1852
128,250
37,549
5,842
78
3,021
174,740
1853
127,199
41,581
6,256
117
3,131
178,284
1854
135,599
36,526
5,343
133
2,747
180,350
1855
164,644
36.746
5,930
87
3,733
211,141
1856
168,360
32,487
5,127
135
3,79S
209,906
1857
120,264
20,838
4,750
108
3,273
149,234
1858
121,038
18,368
5,176
63
2,963
147,608
1859
120,086
16,090
6,023
169
2,859
145,226
The average cost of the work may be put down at $4,500,000, and expenses at $40,000 annually
MONONGAHELA NAVIGATION.
(Financial year ending 31st December, 1859.)
BOARD OF MANAGERS AND OFFICERS, 1860.
Thomas Bakewell
Pittsburg, Pa.
John Graham
Pittsburg, Pa.
George W. Cass
"
"
John Harper
"
"
N. B. Craig
"
"
Joshua Hanna
"
"
George Darsie
"
"
Samuel Jones
"
"
John L. Dawson
Brownsville,
"
Adam Jacobs
Brownsville, "
J. K. MOORHEAD, President
Pittsburg, Pa.
WILLIAM B. COPELAND, Treasurer
"
"
PRINCIPAL OFFICE
No. 75 Grant street, PITTSBURG, Alleghany Co., Pa.
70
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554
PENNSYLVANIA-MONONGAHELA NAVIGATION.
LENGTH OF LINE-Projected: Pittsburg to State Line of Virginia
91 miles.
Completed: Pittsburg to Geneva
83 "
The Monongahela Navigation Company was chartered on the 31st March,
1836. The construction of the work was commenced on the 17th December,
1839, and completed by sections as follows-from Pittsburg, 24 miles, on
the 25th October, 1841; to Brownsville, 32 miles further, on the 3d No-
vember, 1844, and thence to Geneva, 27 miles, in October, 1856. This
improvement consists of a series of locks and dams in the Monongahela
River, by which a slack-water navigation has been formed to Geneva, and
which it is proposed to extend to Morgantown in Virginia. The revenues
of the company are derived from tolls.
SHARE CAPITAL-Authorized, $1,000,000, in 20,000 $50 shares.
Paid in, - - $726,800, on 14,536
"
FUNDED DEBT-$182,000 classified as follows-
1st Mortgage, 6 per cent., coupon bonds
$125,000
-dated 1st January, 1853, and payable, principal 1st January, 1863, and in-
terest semi-annually, 1st January and 1st July, in the city of Pittsburg.
2d Mortgage, 6 per cent., coupon bonds
$57,000
-dated 1st July, 1855, add payable, principal, 1st July, 1865, and interest
semi-annually, 1st January and 1st July, in the city of Pittsburg.
COST OF THE IMPROVEMENT-$905,837. No detail.
INCOME ACCOUNT FOR THE YEAR ENDING 31st DECEMBER, 1859.
Receipts-
Disbursements-
Tolls on passengers (15,245) through,
Repairs account
$21,541
and 69,180 way)
$12,078
Salaries, wages, office expenses, etc.
11,974
Tolls on coal
39,085
Coupon account
10,485
" on freights, etc.
32,635
Interest
43
Rent of water power
107
Bills payable paid
10,000
Other sources
52
Dividend No. y, $282; & No. 10, $20,104 20,386
Cash balance 1st January, 1859
11,178
Taxes, $1,950; sundries, $174
2,124
Cash on hand
18,582
Total
$95,135
Total
$95,135
GENERAL STATEMENT, 1ST JANUARY, 1860.
Dr.
Cr.
Construction
$707,000
Share capital
$726,800
Extension
197,837
Bonds
182,000
Delinquent stock
1,500
Scrip, $3,289; water power, $107
3,396
Youghiogeny stock
4,000
Dividend No. 9, $174; & No. 10, $1,246
1,420
Damages
13,621
Profit and loss.
29,098
Individual accounts
174
Cash
18,582
Total
$942,714
Total
$942,714
STATEMENT OF THE COAL BUSINESS AND TOLLS, 1845-59.
Bushels
Tolls on
Bushels
Tolls on
Bushels
Tolls on
Years.
of Coal.
Coal.
Years.
of Coal.
Coal.
Years.
of Coal.
Coal.
1845
4,605,185
$5,284
1850
12,297,967
$71,023
1855
22,234,009
$31,051
1846
7,778,911
10,221
1851
12,529,228
71,850
1856
8,584,095
10,566
1847
9,645,127
13,242
1852
14,630,841
20,014
1857
28,973,596
37,111
1848
9,819,361
12,438
1853
15,716,367
21,292
1858
25,696,669
34,353
1849
9,708,507
13,533
1854
17,331,946
25,079
1859
28,286,671
39,086
1st 5 yrs 41,557,091
$54,718
2d 5 yrs. 72,506,349
$209,258
3d 5 yrs. 113,775,040
$152,167
Average. 8,311,418
10,943
Average 14,501,269
41,851
Average 22,755,008
30,433
-making a total coal tonnage for the 15 years embraced of 227,838,480
Digitized by Google
PENNSYLVANIA-ERIE CANAL.
555
bushels, or a yearly average of 15,189,232 bushels, and a total tollage on
coal of $416,143, or a yearly average of $27,743. The total toll collected
on coal, merchandize, etc., in 1851, was $65,974; in 1852, $67,519; in 1853,
$62,667 in 1854 (no return); in 1855, $73,054; in 1856, $33,309; in 1857,
$81,253 in 1858, $73,099; and in 1859, $83,798. The variations in the
amount of business in the several years are consequent on the varying stages
of the water, or as in 1856 on the duration of the winter. In that year the
river was closed by ice 94 days.
YOUGHIOGENY NAVIGATION.
LENGTH OF NAvIGATION-McKeesport to West Newton
18 miles.
The Youghiogeny Navigation Company was chartered for the purpose of
improving the Youghiogeny River by means of locks and dams. The works
were completed in 1850. The total fall of the river from West Newton
to the Monongabela River is 26.66 feet, which is overcome by two dams,
about 18 feet high, securing a slackwater navigation of 5 feet depth through-
out, and by corresponding locks. It is a tributary to the Monongabela
Navigation.
ERIE CANAL OF PENNSYLVANIA.
(Financial year ending 31st December, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1860.
James C. Marshall.
Erie City, Pa.
A. Scott
Eric City, Pa.
John Hearn
"
"
R. Metcalf
"
"
John A. Tracy
"
"
D. McAllaster
"
"
CHARLES M. REED, President
Erie City, Pa.
D. MCALLASTER, Treasurer
"
"
A. H. CAUGHEY, Secretary
"
"
WILLIAM W. REED, Superintendent
"
"
PRINCIPAL OFFICE
ERIE City, Erie Co., Pa.
LENGTH-Main Line Bridgewater (Beaver) to Erie City
136 miles.
French Creek Feeder: Head of Bemus Dam to Main Canal
27
"
The Erie Canal Company was chartered on the 7th March, 1843, and acquired
by purchase from the State the line of canals, complete and incomplete,
extending from Bridgewater, on the Ohio River, to Erie City, on Lake Erie.
These consisted of the Beaver Division of the Pennsylvania Canal, the Erie
Extension Canal, and the French Creek Feeder Division.
The Beaver Division" extends from Bridgewater to the head of slackwater
navigation on the Shenango, 6 miles above Newcastle, and is 30.75 miles in
length, with 18 locks, overcoming 132 feet of ascent. The section between
Bridgewater and the confluence of the Big Beaver and Mahoning rivers, three
miles below Newcastle, forms a part of the communication between the
canals of the Ohio and Pennsylvania. The surface of low water in the Ohio
is 91 feet above that of Lake Erie, and of the Newcastle pool 223 feet.
The " Erie Extension" extends from the head of the pool in the Shenango,
along the valley of that river to the summit, and thence by the Conneaut
Valley to Lake Erie. It is 106 miles in length, and is divided into two
lines, viz. : the Shenango Line extending to the summit at Conneaut Lake
Digitized by Google
556
PENNSYLVANIA-ERIE CANAL.
60 miles, and the Conneaut Line thence to Lake Erie, 46 miles. The ascent
from the Newcastle pool to the summit is 288 feet, overcome by 44 locks,
and the descent thence to the Lake 510 feet, overcome by 71 locks-making
a total lockage of 798 feet.
The " French Creek Division included the French Creek Feeder and the
Franklin Line. The former extends from the head of navigation in the pool
of Bemus Dam, 3 miles above Meadville, to the junction with the Erie Ex-
tension, and has a length including Conneaut Lake of 27 miles. The Frank-
lin Line (now abandoned) extended from the feeder aqueduct over French
Creek, 7 miles below Meadville, to Franklin on the Alleghany River. The
surface of the aqueduct is level with the Conneaut Reservoir when full, and
510 feet above Lake Erie. The length of this canal was 22.25 miles, with a
lockage of 128 feet.
The Beaver Division was completed in 1833, and the French Creek Division
in 1834. The Erie Extension, between the pool above Newcastle and
Greenville, and a part of the Shenango Line, were brought into use in
1843-4. The remaining sections to Lake Erie were completed by the pres-
ent company in 1845. The total expenditures by the State on these works
amounted to $4,533,291, viz on the Beaver Division, $519,364; on the Erie
Extension, $4,196,148, and on the French Creek Division, $817,779.
Under the provisions of the act of 1843, the State may resume possession
of these canals on the re-payment to the company of the moneys expended
on their completion, and such additional amount as may equal 8 per cent.
per annum thereon.
SHARE CAPITAL-$58,000, 1,160 in $50 shares.
FUNDED DEBT-$913,990: classified as follows-
1st Mortgage, 7 per cent., bonds
$752,000
-issued in 1845 for the completion of the work.
Interest Certificates at 5 per cent
$161,990
-issued in 1850 for payment of interest to the 1st January, 1850.
The payment of the interest on both bonds and certificates has been made
very irregularly and there is now outstanding on this account $556,715.
From this amount may be deducted $25,000, appropriated for the payment
of 3 per cent. on the outstanding bonds and certificates for the year 1859.
The indebtedness of the company on the 1st Jan., 1860, is shown thus:
Amount, as per report, 1st January, 1859
$1,457,170
Debt cancelled in 1859
44,564
$1,412,606
Add interest on bonds and certificates outstanding
61,026
$1,473,632
Deduct interest, previously appropriated, paid in 1858 and 1859
2,927
Present amount of indebtedness
$1,470,705
INCOME ACCOUNT FOR THE Years 1857, '58 AND '59.
Receipts-
1857.
1858.
1859.
Disbursements-
1857.
1858.
1859.
Tolls
$79,547
$68,323
$93,817
Repairs and supervision
$55,470
$75,137
$49,695
Water rents
1,934
1,971
Salaries
5,573
5,573
5,583
Sundries
143
Incidental expenses
1,448
2,243
1,634
Deficit
12.696
....
Earnings less expenses.
17,056
....
39,019
Total
$79,547 $82,953 $95,931
Total
$79,547 $82,953 $95,931
Digitized by Google
PENNSYLVANIA-WICONISCO CANAL.
557
RECEIPTS AND EXPENSES OF THE SEVERAL SECTIONS 1857-59.
Beaver Division-
Chenango Line
Conneaut Line
Fr.Creek Feeder-
Year.
Revenue.
Expenses.
Revenue.
Expenses.
Revenue.
Expenses.
Revenue. Expenses.
1857
$16,634
$6,883
$44,506
$17,616
$16,035
$21,833
$1,255
$8,760
1858
18,394
4,367
35,076
16.057
13,741
19,889
1,112
6,156
1859
23,598
6,717
44,678
12,590
23,806
22,057
1,334
4,505
3 years
$58,626
$17,967
$124,260
$16,263
$53,582
$63,779
$3,701
$19,421
TREASURER'S BALANCE SHEET, 1ST JANUARY, 1860.
Dr.
Cr.
Balance in Treasury 1st January, 1859.
$62,447
Appropriation for repairs, etc
$48,024
"
in hands of collectors
3,529
Judgments, etc. compromised & cancel'd
17,149
Iron bolts sold
18
Tolls refunded
2,259
Restitution at the Confessional (per
Salaries for 1859
5,583
Bishop Young)
100
Interest on bonds, etc
1,216
Balance of appropriations unexpended
3,157
Law services
993
Tolls and Water Rents
95,789
Balances in hands of collectors
1,625
Estate of Smith Jackson, deceased
25
Amount attached and in suit
40,000
Interest subject to call
4,797
Amount appropriated to pay 3 per cent.
interest on bonds, etc., for 1859
25,000
Cash in Treasury
17,694
Total
$165,065
Total
$165,065
No general balance sheet is published. The cost of the work can only be
approximately stated by adding the amount of the share capital and bonds
issued by the company to the cost of the canals to the State.
CAPITAL, CosT OF WORKS, EARNINGS, EXPENSES, ETC., YEARLY.
Capital Account
Cost of
Miles of Tolls, Operating Earnings
Year.
Stock.
Debt.
Total.
Works.
Canal.
Rents,
etc.
Exp.
less Exp.
Div.
1845
$58,000
$727,093
$785,093
$5,000,000
163
$4,015
$
$4,015
nil
1846
58,000
733,207
791,207
5,100,000
163
19,199
19,199
"
1847
58,000
737,764
795,764
5,100,000
163
33,557
35,431
"
1848
58,000
742,159
800,157
5,150,000
163
60,116
42,727
17,389
"
1849
58,000
969,464
1,027,464
5,285,291
163
71,270
56,935
14,335
"
1850
58,000
1,047,196
1,105,196
5,285,291
163
78,245
37,848
40,397
"
1851
58,000
1,066,164
1,124 164
5,285,291
163
65,719
38,327
27,392
"
1852
58,000
1,172,860
1,230,860
5,285,291
163
63,695
42,807
20,888
"
1853
58,000
1,219,122
1,277,122
5,285,291
163
67,084
38,984
28,100
"
1854
58,000
1,280,078
1,338,078
5,285,291
163
76,757
40,398
36,359
"
1855
58,000
1,319,345
1,377,345
5,285,291
163
96,832
64,726
32,106
"
1856
58,000
1,357,645
1,415,645
5,285,291
163
82,416
47,446
34,960
"
1857
58,000
1,395,491
1,453,491
5,285,291
163
79,547
62,491
17,056
"
1858
58,000
1,457,170
1,515,170
5,285,291
163
70,257
82,953
"
1859
58,300
1,470,705
1,528,705
5,285,291
163
95,931
56,912
39,019
"
15
yrs
$870,000
$16,695,463
$17,565,463
$78,488,201
2,445
$964,640
$647,985
$316,655
"
Average
58,000
1,113,031
1,171,031
5,212,547
163
64,309
43,199
21,110
"
WICONISCO CANAL.
LENGTH-Wiconisco Creek to Duncan's Island
12.25 miles.
The Wiconisco Canal was constructed by the Commonwealth as a feeder
of the Eastern Division of State canals. It extends from Wiconisco Creek,
at the western terminus of the Lykens Valley, Railroad, to the pool of Clark's
Ferry Dam, at Duncan's Island. The descent on this distance is 35 feet,
which is overcome by 14 lift locks. In 1845 the canal, then about completed,
was transferred to the Wiconisco Canal Company, by which it has been used
chiefly for the conveyance of coal from the Lykens Valley mines.
Digitized by
Google
558
PENNSYLVANIA-PENNSYLVANIA PUBLIC WORKS.
PENNSYLVANIA PUBLIC WORKS.
(Now in the possession of incorporated companies.)
MAIN LINE-Columbia Railroad: Philadelphia to Columbia.
81.00 miles.
Eastern Division of Canals : Columbia to Duncan's Island
46.00
"
Juniata Division of Canals : Duncan's Island to Hollidaysburg.
127,00
"
Alleghany Portage Railroad: Hollidaysburg to Johnstown
41.00
"
Western Division of Canals : Johnstown to Alleghany City
104.00
"
Total length of main line
399.00
"
LATERAL LINES-Erie Extension of Canals, including the Beaver Division,
the Shonango and Conneaut lines, the French Creek
Division, and the Franklin line
163.00 miles.
Susquehanna Division of Canals : Duncan's Isl'd to Northumberland 41.00
"
West Branch Division of Canals : Northumberland to Farrandsville,
including Bald Eagle and Lewisburg Side-Cuts
80.50
"
North Branch Div. of Canals Northumberland to Lackawanna Creek 72.50
"
Upper N. Branch Division of Canals: Lackawanna to N.Y. State line 94.25
"
Wiconisco Canal: Millersburg to Duncan's Island
12.25
"
Delaware Division of Canals : Easton and Bristol
60.00
"
Total length of lateral lines
525.75
"
Grand total of railroad and canal mileage
922.75
"
These works were principally brought into use in 1830. The railroads
were not completed until 1833-4.
The whole have now been sold and transferred to incorporated companies.
The Erie Extension Canal was transferred to the Erie Canal company in 1845;
the main line to the Pennsylvania Railroad company in 1857, and the lateral
canals to the Sunbury and Erie Railroad company in 1858. The Wiconisco
Canal had been transferred to a private company when yet incomplete.
The cost of these works to the State, up to the period of the several
transfers, was as follows:
Columbia Railroad
$5,277,278
Susquehanna Division of Canals
$897,160
Eastern Division of Canals
1,737,285
West Branch Division of Canals
1,833,183
Juniata Division of Canals
3,575,966
North Branch Division of Canals
1,623,117
Alleghany Portage Railroad
2,708,672
Upper North Branch Division
5,643,491
Western Division of Canals
3,173,432
Delaware Division of Canals
1,543,763
Total Main Line
$16,472,633
Total Lateral Canals
$10,540,704
Erie Extension Canal
4,533,291
Wiconisco Canal
393,440
Making a total cost of the transferred works of
$31,940,068
A large amount of money was also expended on works now abandoned
(say $6,000,000), and on the bonds of companies guaranteed by the State
(say $500,000), and the difference between the net earnings of the works and
interest paid has been about $30,000,000. With these the total outlay of the
State, on account of its public works, has been about $68,500,000. The
total amount realized from the sale and transfer of the works has been less
than one fifth of this sum.
See ERIE CANAL; PENNSYLVANIA RAILROAD; SUNBURY AND ERIE RAIL-
ROAD; DELAWARE DIVISION CANAL; WYOMING CANAL; WEST BRANCH AND
SUSQUEHANNA CANAL; NORTH BRANCH CANAL, and WICONISCO.
Digitized by
Google
STATEMENT of the Revenue and Expenses of the Main Line of the Public Works of Pennsylvania from 1830 to 1857.
COLUMBIA RAILROAD.
EASTERN Div. OF CANAL.
JUNIATA Div. OF CANAL.
ALLEGH'Y PORTAGE RR.
WESTERN Div.or CANAL.
TOTAL OF MAINE Line.:
YEAR.
81 miles-Cost $5,277,278.
46 miles-Cost, $1,737,285.
127 milee-Cost,$3,575,966.
41 miles-Cost $2,708,672
104 miles-Cost $8,173,434.
399 miles-Cost $16,472,638.
Revenue.
Expenses.
Revenue.
Expenses.
Revenue.
Expenses.
Revenue.
Expenses.
Revenue.
Expenses.
Revenue.
Expenses.
1830.
$10,356
$7,761
$17,323
8
8
$15,393
$55,642
$25,749
$80,725
1831.
17,685
10,895
4,492
53,172
12,999
66,901
35,176
130,968
1832.
20,599
8,688
7,205
31,645
9,313
144,323
37,117
184,656
1833.
5,003
49,737
19,633
15,331
34,303
25,437
59,631
95,508
113,567
1834.
40,240
79,260
18,657
56,169
35,298
5,482
60,746
83,508
236,415
142,945
1835.
183,610
163,691
142,854
19,274
70,078
41,722
97,740
98,744
103,390
59,754
297,672
382,185
1836.
260,658
288,389
158,971
16,472
56,862
33,971
153,171
132,538
123,228
30,163
752,890
501,533
1837.
353,566
403,997
136,379
49,300
79,486
46,865
148,523
158,038
132,523
75,769
850,477
733,969
1838.
390,636
197,201
122,746
94,938
71,327
38,874
153,069
148,648
108,760
63,838
846,538
543,489
1839.
369,974
264,287
166,564
32,142
75,140
41,818
151,330
141,857
146,480
23,941
929,488
504,045
1840.
445,552
550,238
165,383
63,403
106,327
111,772
167,266
267,333
123,356
92,937
1,007 884
1,085,683
1841.
411.537
339,170
140,188
35,188
88,178
53,660
145,435
133,799
117,049
43,743
902,387
605,560
1842.
345,082
340,208
117,189
27,884
87.838
88,385
116,349
120,175
87,218
25,952
753,676
602,604
1843.
369,496
288,503
108,748
30,693
87,768
58,363
175,476
159,920
99,603
22,098
841,091
558,977
1844.
416,318
261,382
152,969
27,485
88,649
53,210
169,603
208,137
115,322
43,625
942,861
593,839
1845.
418,502
209,596
117,363
25,593
70,379
63,773
160,212
189,757
144,580
18,839
911,036
507,558
1846.
488,243
219,752
126,725
69,983
78,007
52,755
200,342
130,321
141,497
27,160
1,034,814
499,971
1847.
564,356
246,377
160,653
46,844
67,312
59,959
232,587
160,290
205,514
25,258
1,230,422
538,728
1848.
554,191
261,409
161,856
21,953
61,164
224,439
219,143
220,181
188,296
66,325
1,184,650
794,307
1849.
571,589
322,904
196,456
43,616
68,793
94,544
218,470
205,702
183,412
63,762
1,238,720
730,528
1850.
621,576
340.802
190,596
31,941
68,000
93,246
242,521
329,025
219,908
44,403
1,342,601
839,417
1851.
653,268
338,959
117,723
60,626
63,484
93,940
234 532
341,325
160,055
59,611
1,229 052
894,461
PENNSYLVANIA-PENNSYLVANIA PUBLIC WORKS.
1852.
820,640
320,887
129,708
46,773
65,002
69,186
310,011
336,007
127,054
64,376
1,452,415
877,229
1853.
716,242
422,631
141,854
53,183
59,478
100,356
224,627
507,508
161,278
78,975
1,303,479
1,162,653
1854.
821,525
390,761
133,726
51,294
49,327
90,112
78,025
338,391
96,407
75,309
1,179,010
945,868
1855.
857,059
442,138
132,049
59,448
48,383
55,493
18,150
256,458
62,577
72,294
1,118,217
915,833
Digitized by
1856.
953,034
448,557
151,664
54,577
45,487
85,115
20,047
193,804
52,741
58,322
1,223,973
840,375
18574
648,655
368,101
55,632
43,351
21,552
94,535
11,982
82,850
24,442
50,913
761,864
639,750
12,300,552
7,429,940
3,405,632
1,071,595
1,661,218
1,967,834
3,648,611
4,666,290
3,046,578
1,597,372
24,064,591
16,933,031
68,193*
337,546t
10,044*
415,783
Google
Total
12,300,552
7,498,133
3,405,632
1,071,595
1,661,218
2,305,380
3,648,611
4,876,334
3,048,578
1,597,372
24,064,591
17,348,814
NOTE.-The mileage and cost refer to the year 1857.
# Damages by sparks from locomotives. t Cost of repairing the Huntingdon breach, 1838.
t Not including State Tax on the Tonnage of the Pennsylvania Railroad. $ The Revenue and Expenses from 1st December, 1835, to 31st July, 1857.
559
560
STATEMENT of the Revenues and Expenses of the Lateral Canals of the State of Pennsylvania from the completion of the several works to
the date of their sale and transfer:
DELAWARE DIVISION.
SUSQUE'NA DIVISION.
NORTH BR'CH DIVISION.
WEST BR. DIVISION.
BEAVER DIVISION.
FRENCH CREEK Div.
TOTAL OF LATERAL CANALS
YEAR.
60 miles-Cost $1,543,763.
41 miles-Cost $897,160
73 miles-Cost $1,623,117
76 ms-Cost $1,833,183
30miles--Cost $519,364
49 miles -Cost $817,779
329 miles-Cost $7,234,366.
Revenue.
Expenses.
Revenue.
Expenses.
Revenue.
Expenses.
Revenue.
Expenses.
Revenue.
Expenses.
Revenue.
Expenses.
Revenue.
Expenses.
1830
$
$9,365
$
$8,379
$
$15,277
$
$2,166
$
$
$
$2,060
$
$37.247
1831
899
76,525
2,215
16,322
49,067
21,270
3,114
163,184
1832
8,043
51,715
5,748
65.056
27,654
25,866
13,791
170,291
1833
44,825
78,354
7,671
77,094
3,416
23,217
28,116
7,913
55,912
214,694
1834
57,135
46,049
11,431
43,278
3,915
48,083
30,158
555
336
17,539
73,372
185,107
1835
56,281
27,493
16,083
12,967
5,721
24,662
5,496
26,000
2,221
3,194
884
19,100
86,686
113,416
1836
57,175
40,630
13,029
2,155
9,824
9,528
3,992
36,116
504
32,265
388
30.229
84,912
150,923
1837
90,155
28,096
16,296
10,32!
10,850
13,412
4,708
32,443
1,784
28,199
1,079
19,065
124,872
131,536
1838
72,133
39,782
20,791
17,702
8,816
15,903
9,300
39,199
1,202
11,139
555
10,107
112,797
133,832
1839
98,240
82,410
22,269
4,201
10,181
11,810
12,852
19,834
2,032
7,140
981
4,060
146,555
129,455
1840
111,735
85,759
30 127
32,886
14,165
110,079
28,003
72,926
3,192
49,740
645
16,263
187,867
367,653
1841
64,975
109,339
26,692
17,084
29,669
79,425
24,952
57,782
6,379
24,873
340
8,383
152,971
296,886
1842
73,228
145,493
17,460
42,435
39,590
84,075
16,043
38,663
6,580
12,084
516
4,585
153,417
327,335
1843
109,845
17,505
10,775
22,001
33,094
28,814
18,518
33,148
6,076
10,369
2,592
178,308
114,429
1844
114.556
49,044
19,652
32,704
51,031
29,234
29,689
30,768
6,536
27,385
796
221,464
161,931
1845
111,452
39,951
21,214
26,514
80,219
35,060
29,477
15,802
1,251
3,972
97
1,219
243,710
122,518
Digitized by
1846
164,203
44,019
23,632
43,513
89,269
30,347
45,156
22,762
322,260
140,641
1847
164,153
16,187
25,909
18,944
124,184
36,279
43,329
18,989
357,575
90,399
1848
150,223
19,539
26,262
15,230
120,842
11,505
38,578
58,827
365,905
105,101
1849
202.505
28,053
27,264
11,646
116,552
22,182
43,820
70,247
390,141
132,128
PENNSYLVANIA-PENNSYLVANIA PUBLIC WORKS.
1850
200,719
43,265
26,073
14,406
102,026
26,233
42,500
31,672
371,318
115,576
Google
1851
256,213
49,357
32,422
23,368
149,683
26,497
52,642
30,398
490,959
129,620
1852
260,037
40,697
33,548
32,077
136,621
28,962
55,951
33,844
486,157
136,580
1853
247,919
86,847
38,928
25,620
234,590
26,889
68,329
54,206
589,766
193,562
1854
377,663
75,979
42,236
27,747
225,972
45,245
62,816
29,798
708,687
178,769
1855
392,673
71,091
75,623
39,664
251,992
47,699
86,961
36,109
807,249
194,563
1856
349,922
83,159
64,662
45,234
270,355
53,293
91,688
29,249
776,627
210,935
1857
224,329
60,730
59,368
52,978
162,081
57,377
64,035
87,068
509,813
258,153
1858
32,141
26,117
6,712
25,114
17,321
26,573
14,160
30,269
70,335
108,073
Total..
$4,123,377
1,572,560
724,092
806,640
2,301,979
1,044,381
892,995
1,043,695
38,312
210,360
5,820
143,912
8,086,575
4,821,548
PENNSYLVANIA-PENNSYLVANIA PUBLIC WORKS.
561
The State Debt of Pennsylvania, created chiefly on account of public
works, and outstanding on the 30th of November, 1859, amounted to
$39,482,992, viz:
Classification.
Date of Act.
Payable.
Amount.
6 per cent. Stock Loan
2d April, 1821,
1st June, 1841,
$630
5
"
"
"
9th April, 1827,
1st Dec., 1850,
2,003
5
"
"
",
24th Mar., 1828,
1st Dec., 1853,
1,617,550
5
"
"
"
18th Dec., 1828,
1st Jan, 1854,
666,303
5
"
"
"
22d April, 1829,
1st Dec., 1854,
1,835,274
5
"
"
"
7th Dec, 1829,
(Bk. Charter Loan,)
50,000
5
"
"
"
13th Mar., 1830,
4th Mar., 1858,
3,798,903
5
"
"
"
21st Mar., 1831,
1st July, 1856,
2,242,181
5
"
"
"
28th Mar., 1831,
28th Mar, 1861,
79,900
5
"
"
"
30th Mar., 1831,
1st July, 1856,
273,526
5
"
"
"
30th Mar., 1832,
1st July, 1860,
2,111,615
5
"
"
"
5th April, 1832,
1st July, 1860,
286,835
5
"
"
"
16th Feb., 1833,
1st July, 1858,
2,430,060
41
so
"
"
1st Mar., 1833,
10th April, 1863,
188,200
5
"
"
"
27th Mar., 1833,
1st July, 1858,
498,256
5
"
"
"
5th April, 1834,
1st July, 1862,
2,047,875
5
"
"
"
13th April, 1835,
1st July, 1865,
903,505
5
"
"
"
26th Jan., 1839,
1st July, 1859,
1,075,970
5
"
"
"
9th Feb., 1839,
1st July, 1864,
1,145,838
5
"
"
"
16th Mar., 1839,
1st July, 1864,
89,851
5
"
"
"
27th Mar., 1839,
1st July, 1868,
463.284
5
"
"
"
7th Jan., 1839,
1st Aug., 1869,
47,111
5
"
"
"
27th Jan., 1839,
27th June, 1864,
1,076.389
5
"
.8
"
19th July, 1839,
1st July, 1868,
2,003,080
5
"
"
"
23d Jan., 1840,
1st Jan., 1865,
736,510
5
"
44
"
3d April, 1840,
1st Aug, 1864,
708,888
5
"
"
"
11th June, 1840,
1st July, 1870,
1,819,720
Relief Notes
4th May, 1841,
4th May, 1846,
105,350
5 per cent. Stock Loan
5th May, 1841,
(Bk. Charter Loan,)
376,687
6
"
Interest Certificates
27th July, 1842,
1st Aug., 1843,
5,725
6
"
"
"
7th Mar., 1843,
1st Aug., 1846,
7,910
5
"
"
"
31st May, 1844,
1st Aug., 1846,
9,720
5
"
Stock Loan
29th April, 1844,
1st Mar., 1849,
129
5
"
"
"
16th April, 1845,
1st Aug, 1855,
4,032,652
5
"
"
"
22d Jan., 1847,
(Bk. Charter Loan,)
23,000
6
"
"
"
11th April, 1848,
11th April, 1853,
44,550
6
"
Inclined Plane Loan
10th April, 1849,
10th April, 1879,
400,000
41 and 5 per cent. North Branch Loan
2d April, 1852,
1st July, 1852,
850,000
4 and 5
"
Redemption Loan
4th May, 1852,
1st Aug., 1877,
5,000,000
5 per cent. Redemption Loan
19th April, 1853,
1st Aug., 1878,
428,000
$39,482,992
Bonds of Pennsylvania Railroad Company for main line of works
$7,400,000
"
Sunbury and Erie Railroad Company for lateral Canals
3,871,250
"
other Companies
1,708,996
Unavailable Bank balances
280,000-$13,260,246
Excess of debt
$26,222.746
71
Digitized by Google
STATE OF DELAWARE.
DELAWARE.
NEWCASTLE AND FRENCHTOWN.
JUNCTION AND BREAKWATER.
NEWCASTLE AND WILMINGTON.
MARYLAND AND DELAWARE.
WILMINGTON AND SUSQUEHANNA.
The railroad first constructed in the State of Delaware was the Newcastle
and Frenchtown, extending across the neck of the peninsula from Newcastle
on the Delaware River, to Frenchtown on Elk River, an affluent of Chesa-
peake Bay, a distance of 16.19 miles. This road was completed in 1832 at
a cost of about $400,000, and in connection with steamboat lines (owned by
the company) on the two waters, for many years formed one of the principal
routes of travel between the cities of Philadelphia and Baltimore. Soon
after the completion of the Philadelphia, Wilmington and Baltimore Rail-
road, and for the purpose of avoiding a ruinous competition for the traffic
between the two cities, a union of interests was formed, and in 1840 the two
companies were virtually consolidated by an exchange of share-capitals.
Since this period both lines have been operated under the same management,
but for the purposes of general business the southern line has ceased to be
of consequence. At the present time, indeed, only that portion of the road
extending from Newcastle to the junction of the Delaware Railroad is in
use, and this forms a link in the chain of roads now extending from Wil-
mington through the length of the State into Maryland.
The second railroad constructed was the Wilmington and Susquehanna,
which was opened for public use in 1837. The road within Delaware
extended from Wilmington to the Maryland State Line. In 1836 the com-
pany owning the Delaware and Maryland Railroad, extending from the
western terminus of this road to the Susquehanna River, was consolidated
with the Delaware Company into one corporation, and in 1838 the three
companies then owning the line between Philadelphia and Baltimore were
consolidated into the Philadelphia, Wilmington and Baltimore Company.
The history of the consolidated company will be found at large on pages
487-489. The earnings of the roads operated by the company have been
sufficient to pay an average of 3₺ per cent. on the share-capital for the 22
years since the consolidation.
For the fifteen years from 1837 no further development of the railroad
system of the State was effected. In November, 1852, the work of con-
structing the Delaware Railroad was commenced. This road, which was
chartered in 1849, extends through the length of the State, and in connection
with other roads will form a continuous line from Wilmington to Tangier
Sound, and be thence continued by steamboat to Norfolk in Virginia. It
was built by section, and opened at various dates from 1855 to 1860, when
it was wholly completed. The section in Maryland, in continuation of the
line, is being rapidly constructed, and it is anticipated that the through-line
562
Digitized by Google
STATE OF DELAWARE.
563
will be in operation during the year 1861. From the date of its opening
this road has been operated under lease by the Philadelphia, Wilmington
and Baltimore Company, which has agreed to equip and maintain it for
twenty-one years, and pay as rent therefor a sum equal to 6 per cent. an-
nually on its cost. Hitherto the road has been operated at a loss to the
lessee.
The Junction and Breakwater Railroad leaves the Delaware Railroad at
Harrington and will terminate at Lewes, its length being 29 miles. It was
completed and opened to Milford, 81 miles, in September, 1859, and has
since been operated by the Philadelphia, Wilmington and Baltimore Com-
pany, at a fixed rate of payment for services. This arrangement is temporary.
The only other railroad requiring mention is the Maryland and Delaware,
which will leave the Delaware Railroad at Smyrna, and have its western
terminus at Oxford in Maryland. Only a short section is within this State.
It is probable that it will be completed within the next two or three years.
The following table exhibits the amount of productive and unproductive
share-capital and debt of the several companies in the State at the dates of
the annual reports for 1859:
Corporate Titles
Share Capital
Funded
Total Indebtedness
of Companies.
Total.
Prod'tv.
Unprod'tv.
Debt.
Amount.
Prod'tv.
Unpro'tv.
Delaware
$361,478
$361.478
$854,000
$966,029
$966,029
Junction and Breakwater
43,471
43,471
3,987
10,545
10,545
Newcastle and Frenchtown
744,520
744,520
Newcastle and Wilmington
150,000
150,000
Total
$1,299,469
894,520
405,949
857,987
976,574
976,574
STATEMENT, showing the Share Capital, Debts, Earnings and Expenses of the Railroads
1
of the State of Delaware, for the ten years ending with 1859.
Capital Account
Cost
Miles
Gross
Operating
Amount
Years.
Share
Loans &
Total
of
of
earnings
expenses
divided
Capital.
Debts.
Capital.
Road.
Road.
of Roads.
& repairs. on shares.
1850
$861,420
$181,128
$1,042,548
$908,927
16
$137,337
$118,773
$30,149
1851
861,420
168,656
1,030,076
908,927
16
137,286
127,528
30,149
1852
861,420
161,890
1,022,310
908,927
16
92,078
118,563
34,456
1853
861,420
156,108
1.017,528
908,927
16
74,430
101,179
43,701
1854
861,420
135,190
996,610
908,327
16
76,268
89,381
25,842
1855
861,420
137.984
999,404
908,927
16
68,994
97,272
*103,370
1856
1,131,176
211,506
1,342,682
1,131,351
56
61,382
67,208
27,728
1857
1,196,223
617,249
2,013,472
2,179,944
92
138,742
98,871
44,957
1858
1,241,389
891,722
2,133,111
2,201,327
92
125,297
93,629
48,616
1859
1,255,998
963,241
2,219,239
2,421,379
92
140,501
91,234
55,171
10 yrs
$9,993,306
$3,823,674
$13,816,980
$13,387,563
428
$1,052,315
$1,003,638
$444,139
Aver..
999,330
382,367
1,381,698
1,338,756
42%
105,231
100,363
44,134
NOTE.-The Railroads included in the above statement are the Delaware, the Newcostle and
Frenchtown, and the Newcastle and Wilmington The dividends on the Newcastle and French-
town share capital are reckoned at the same rates as those paid on the Ph., Wilm. and Balt. Com-
pany's stock, and the dividends on the Newcastle and Wilmington at 7 per cent. per annum. The
Delaware Company has paid no dividends.
#
Paid in stock of the Philadelphia, Wilmington and Baltimore Company.
Digitized by
Google
RAILROADS OF THE STATE IN DETAIL.
DELAWARE RAILROAD.
(Financial year ending 31st October, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1860.
S. M. Felton
Philadelphia, Pa.
H.B. Fiddeman
Milford, Del.
A. C. Gray
New Castle, Del.
Daniel Curry
"
"
C. I. Du Pont
Wilmington, "
Alex. Johnson
Farmington,
"
J. Bringhurst
"
"
Wm. Cannon
Bridgeville,
"
Jesse Sharp
"
"
Wm. H. Ross
Seaford,
"
H. Ridgeley
Dover, "
C. H. Wright
"
"
SAMUEL M. HARRINGTON, President
Dover, Del.
JAMES F. ALLEE, Treasurer
"
"
E. Q. SEWALL, Jr., Superintendent
Wilmington, "
PRINCIPAL OFFICE
DOVER, Kent Co., Del
LENGTH OF RoAD-Delaware Junction to Delmar (Maryland State Line). 84 miles
ROLLING Srock-None-Operated by the Phila., Wilmington and Balt. RR. Co.
The Delaware Railroad Company was chartered on the 22d February, 1849.
The work of construction was commenced in November, 1852. The different
sections were opened as follows:-from the Delaware Junction (New-
castle and Frenchtown Railroad) to Middletown, 12 miles, in September,
1855; from Middletown to Dover, 23 miles, in January, 1856; thence to
Seaford, 36 miles, on the 11th January, 1857, and thence to Delmar, the
present southern terminus, 13 miles, in April, 1860. The road was leased for
twenty-one years, from the date of its opening, to the Philadelphia, Wilming-
ton and Baltimore Railroad Company, which agreed to equip, maintain and
run it, and pay as rent 6 per cent annually on its cost.
SHARE CAPITAL-Paid in, $361,478, in $100 shares.
FUNDED DEBT-$854,000; in detail as follows—
1st Mortgage, 6 per cent., coupon bonds
$500,000
-dated 18th March, 1854, and payable, principal 1st July, 1875; interest
semi-annually, 1st Jan. and 1st July, in Philadelphia. These bonds are guar-
anteed by the Philadelphia, Wilmington and Baltimore Railroad Company.
State of Delaware 6 per cent. bonds
$170,000
-issued in April, 1855, and payable in 1876; interest payable 1st January
and 1st July, in Philadelphia.
Bonds guaranteed by the Phila., Wilmington and Baitimore RR. Co.
$100,000
-issued in September, 1855, and payable in July, 1875; interest payable
1st January and 1st July, in Philadelphia.
Loan of 18th December, 1856, (6 per cent. bonds)
$71,500
-issued 18th December, 1856, and payable in sums of $3,250 every six
months, at Dover.
Loan of 4th September, 1856, (6 per cent. bonds)
$13,000
-issued 4th September, 1856, and payable in sums of $3,250 every six months,
at Dover.
564
Digitized by Google
DELAWARE-JUNCTION AND BREAKWATER.
565
1st Mortgage, Extension, 6 per cent., bonds
$100,000
-dated 1st October, 1859, and payable 1st January, 1880 ; interest payable
1st January and 1st July, in Philadelphia. These bonds constitute a first
mortgage on the road from Seaford to Delmar, 13 miles.
CosT OF ROAD AND EQUIPMENT-$1,547,825 in detail as follows—
Graduation and masonry
$207,460
Engineering
$36,737
Superstructure, including iron
721,130
Extension of road
97,616
Land damages
57,757
Other items
428,125
GENERAL BALANCE SHEET, 1ST NOVEMBER, 1859.
Dr.
Cr.
Graduation and masonry
$207,461
Share capital
$361,478
Bridging
27,414
Gratuity by State
50,000
Fences
16,775
1st mortgage bonds
500,000
Stations
19,529
State of Delaware bonds
170,000
Superstructure, including iron
712,130
Guaranteed bonds
100,000
Extension of road
97,616
Loan of 1956
71,500
Interest, profit and loss and other items
466,880
Bills payable
78,929
Extension bonds
100,000
Bills payable for extension
33,100
Earnings of road and other receipts
82,818
Total
$1,547,825
Total
$1,547,825
The earnings and expenses for the several years since the road has been
in operation have been as follows-
1857.
1858.
1859.
Total earnings
$94,301
$95,413
$108,806
Current expenses
59,981
69,334
69,652
Net earnings
$34,320
$26,079
$39,154
Loss to Phila., Wilmington, and Balt. RR. Co.
44,418
45,815
46,518
The rent paid the past year was 75,672, being 6 per cent. on the share
capital and debts of the company, amounting to 1,261,200.
JUNCTION AND BREAKWATER RAILROAD.
(Financial year ending 31st December, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1860.
H. B. Fiddeman,
Daniel Curry,
T.P. McColley,
Benj. Burton,
Curtis S. Watson,
Peter F. Causey,
Caleb S. Layton,
Richard France.
JOHN W. HOUSTON, President
Milford, Del.
II. W. McCoLLEY, Treasurer
"
"
T. F. TILGHMAN, Chief Engineer
"
"
PRINCIPAL OFFICE
MILFORD, Kent Co., Del
LENGTH OF RoAD-Harrington to Milford
8.50 miles.
The Junction and Breakwater Railroad Company was chartered in the year
1856, with authority to construct a railroad from the Delaware Railroad to
Lewes. The first division of the road from Harrington to Milford, 84 miles,
was completed and opened for public use on the 7th September, 1859. It is
operated by the Philadelphia, Wilmington and Baltimore Company, which
runs two daily trains at a charge for services of $17 per diem. The total
length of the road when completed will be 29 miles.
SHARE CAPITAL-Authorized, $125,000, in 5,000 $25 shares.
Paid in.
.
$43,471 on 2,502
"
Digitized by
Google
566
DELAWARE-NEWCASTLE AND FRENCHTOWN.
COST OF ROAD AND APPURTENANCES-$77,040: in detail as follows :-
Graduation and masonry
$13,758
Land, land damages and fences
$1,980
Superstructure, including iron
50,943
Engineering
3,856
Salaries, buildings and fixtures
4,446
All other expenses
2,057
GENERAL LEDGER BALANCE SHEET, 1ST JANUARY, 1860.
Dr.
Cr.
Construction account
$77,040
Share capital paid in
$43,471
Bills receivable
510
State of Delaware
27,600
Cash on hand
2,716
Loans
3,987
Cross ties, etc on hand.
1,350
Notes to Mount Savage Iron Company
6,558
Total
$81,616
Total
$81,616
MARYLAND AND DELAWARE RAILROAD.
(See Maryland and Delaware Railroad of Maryland.)
NEWCASTLE AND FRENCHTOWN RAILROAD.
LENGTH OF Road-Newcastle to Frenchtown
16,19 miles.
The Newcastle and Frenchtown Railroad Company was chartered in 1829, and
the road constructed in 1830-32. It extends from Newcastle, 35 miles below
Philadelphia, to Frenchtown on Elk River, one of the head streams of
Chesapeake Bay; and in connection with the steamboats on the Delaware
and Chesapeake for many years formed a part of one of the principal routes
between the north and south. In 1840 the road was merged into the Phila-
delphia, Wilmington and Baltimore Company by an exchange of stock, and
has since been operated as a part of its works; but being within the State of
Delaware, a separate organization is maintained, and separate accounts of
operations rendered, Since the completion of the Newcastle and Wilming-
ton Railroad, the steamboat connections have been discontinued, and that
portion of the road west of the Delaware Junction is also in disuse.
SHARE CAPITAL-Paid in, $744,520, in 14,891 $50 shares.
INCOME ACCOUNT FOR THE ELEVEN MONTHS ENDING 31sT OCTOBER, 1859.
Receipts-
Repairs-
Passenger earnings
$10,408
Operating and repairs
$11,415
Freight earnings
9,865
Taxes and bonus to State and Newcastle
Rents, mails, and miscellaneous
922
County
10,167
Deficit
387
Total
$21,582
Total
$21,582
GENERAL ACCOUNT, 1ST NOVEMBER, 1859.
Dr.
Cr.
Railroad
$699,514
Share capital
$744,520
Real Estate
24,036 $723.550
Dividends unclaimed
$806
Ches. and Del. Canal Stock
25,000
Open account
22
Bond and mortgage
43
Tax and bonus to State
3,334
Cash
568
Treasurer Ph. Wil. and Balt. Co.
479
4,641
Total
$749,161
Total
$749,161
Digitized by Google
DELAWARE-WILMINGTON AND SUSQUEHANNA.
567
CAPITAL, COST, EARNINGS, EXPENSES, ETC.
Capital Account
Cost of
Mls of
Gross Earnings
Expenses,
Shares.
Debt.
Total.
Road, etc.
Road. Passen'r. Freight. Miscel. Total. Tixes, etc.
1850
$861,325
$181,223
$1,042,548
$908,927
16.19
$135,129
$1,976
$232
$137,337
$118,773
1851
861,420
178,659
1,030,076
908,927
16.19
135,231
1,913
142
137,286
127,528
1852
861,420
160,890
1,022,310
908,927
16.19
89,978
1,899
201
92,078
118,563
1853
861,420
156,108
1,017,528
908,927
16.19
72,269
1,847
314
74,430
101,179
1854
861,420
135,190
992,610
886,927
16.19
70,779
1,883
3,606
76,268
89,381
1855
861,420
137,984
999,404
853,405
16.19
64,731
2,205 2,058
68,994
97,272
1856
861,420
11,506
872,926
741,351
16.19
19,143
14,639
281
34,063
55,097
1857
861,420
16,087
877,507
741,351
16.19
15,337
7,964
640
23,941
38,890
1858
762,320
4,958
767,278
741,351
16.19
10,308
8,545
1,031
19,884
24,295
1859
744,520
4,641
749,171
723,551
16.19
10,408
9,865
922
21,195
21,582
10 Yrs. 8,398,105
987,246
9,385,351
8,323,644
161.90
623,313
52,936
9,427
685,476
792,560
Aver.
839,810
98,724
938,535
832,364
16.19
62,331
5,293
942
68,547
79,256
NEWCASTLE AND WILMINGTON RAILROAD.
LENGTH OF RoAD-Newcastle to Wilmington
5 miles.
The Newcastle and Wilmington Bailroad Company was chartered in 1839 and
the road constructed in 1854. From the date of its completion it has been
operated under lease by the Philadelphia, Wilmington and Baltimore Com-
pany, which pays as rent therefor a sum equal to 7 per cent. on its cost
of $150,000. This road is the connecting link between the railroads of
Pennsylvania and Delaware.
PHILADELPHIA, WILMINGTON AND BALTIMORE RR.
(See Philadelphia, Wilmington and Baltimore Railroad of Pennsylvania.)
WILMINGTON AND SUSQUEHANNA.
(Now a part of the Philadelphia, Wilmington and Baltimore Railroad.)
LENGTH OF Road-Wilmington, Del. to Havre de Grace, Md
34 miles.
The Wilmington and Susquehanna Railroad Company was chartered in Janu-
ary, 1832, with a capital of $400,000 in 8,000 shares. By an act passed in
1836, the company was authorized to consolidate with other companies, to
increase its share-capital to $700,000, and to negociate loans. In accordance
with the provisions of this act, articles of union were agreed to between the
Wilmington and Susquehanna and the Delaware and Maryland companies—
the united interests taking the name of the former. This consolidation was
consumated in April, 1836, and in the following year the whole line was
opened for business. The Philadelphia, Wilmington and Baltimore, the
Wilmington and Susquehanna, and the Baltimore and Port Deposit com-
panies, owning the line between Philadelphia and Baltimore, in severalty,
were consolidated in 1838. The articles of union, concluded on the 5th
February of that year, merged the three corporations into one corporate
body, under the style of 'The Philadelphia, Wilmington and Baltimore
Railroad Company," and their stocks into a common stock, etc.-the stock
holders of the Wilmington and Susquehanna Company being entitled to
16,000 shares in the new company. That portion of the road in Delaware
between Wilmington and the State Line of Pennsylvania was constructed
by the Philadelphia and Wilmington Company.
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LAWS OF THE STATE IN REFERENCE TO RAILROADS.
List of all the Railroad Companies chartered in the State of Delaware,
with the dates of the Acts of their incorporation; and also the dates and
abstracts of all laws passed by the Legislature in reference thereto.
The asterisk [*] prefixed signifies that the work of construction has not been commenced.
Corporate Titles.
Date of Laws.
Abstract of Laws.
DELAWARE
20 June, 1836
Act of incorporation.
"
22 Feb., 1849
Act of incorporation revived and amended.
"
24 Feb., 1851
Regulates subscriptions to capital.
"
7 Feb., 1852
Appropriation of money by State
"
26 Feb., 1852
Grants certain marsh lands to company.
"
11 Feb., 1852
Appropriation of money by State.
"
20 Feb, 1852
Joint resolution directing State Treasurer to
subscribe to company's capital.
"
24 Feb., 1852
In relation to extension of road to N. & F.RR.
"
28 Feb., 1855
Advances credit of State to company.
"
1 Mar., 1855
Amends sec. 20 of charter.
"
24 Feb., 1859
An act for the benefit of company.
*DELAWARE & PENNSYLVANIA
26 Feb. 1857
Act of incorporation.
*DOVER
29 Jan., 1833
Act of incorporation.
"
21 Feb., 1852
Charter revived.
JUNCTION & BREAKWATER
13 Feb., 1857
Act of incorporation.
MARYLAND & DELAWARE
13 Feb., 1857
Act of incorporation.
*MILFORD
6 Feb., 1833
Act of incorporation.
NEWCASTLE & FRENCHTOWN TURNP.
7 Feb., 1829
Authorized to construct a railroad.
"
"
26 Jan., 1831
Act in relation to route and damages.
"
"
8 Feb., 1832
Authorizing increase of share-capital.
"
"
22 Jan., 1833
Supplementary.
"
"
9 Feb., 1843
Supplementary.
"
"
23 Feb., 1849
Authorizes change of western terminus.
"
"
28 Feb., 1853
N. & F. Co. may guarantee bonds of Dela-
ware company and hold stock thereof.
*NEWCASTLE & OCTORARA
2 Feb., 1855
Act of incorporation
NEWCASTLE & WILMINGTON
19 Feb., 1839
Act of incorporation.
"
"
2 Feb., 1847
Supplement to act of incorporation.
"NEWCASTLE & WILMINGTON PAS-
SENGER
18 Feb, 1859
Act of incorporation.
Philadelphia, WILMINGTON & BAL-
TIMORE
5 Feb., 1838
Articles of union between the Philadelphia,
Wilmington & Baltimore of Pennsylvania,
the Wilmington & Susquehanna of Del. and
Md., and the Baltimore and Port Deposit
of Md. signed.
*WILMINGTON & BRANDYWINE
26 Feb., 1849
Act of incorporation.
"
"
13 Feb., 1855
Charter revived.
*WILMINGTON & DOWNINGTOWN
26 Jan, 1831
Act of incorporation.
"
"
15 Feb., 1839
Charter extended.
WILMINGTON & SUSQUEHANNA
18 Jan., 1832
Act of incorporation cap. $400,000.
"
"
4 Feb., 1833
Supplement: may unite with roads in Penn-
sylvania and Maryland.
"
"
....
26 Jan., 1835
Supplement: extends time for opening sub-
scription to 1st Monday in October, 1855,
and authorizes company to hold real-estate
and steambeats.
"
"
24 July, 1835
Supplement: relating to proceedings, etc.,
and company to pay a tax to State of one-
quarter of one per cent. on orlginal capital
of $400,000. May unite with Delaware
and Maryland Railroad Company.
"
"
17 June, 1836
Supplement may increase share-capital and
issue bonds, and the right of taxing addi-
tional capital reserved to the legislature.
568
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CHESAPEAKE AND DELAWARE BAY.
(Financial year ending 31st May, 1860.)
BOARD OF DIRECTORS AND OFFICERS, 1860.
Algernon S. Roberts,
Samuel W. Jones,
George Cadwalader,
I. P. Hutchinson,
Francis R. Cope,
C. H. Fisher,
Samuel Norris,
Francis Hopkinson,
Joseph Swift,
Samuel C. Morton,
Joseph Jones,
Tobias Wagner,
J. Francis Fisher,
John Bohlen,
Andrew C. Gray.
ANDREW C. GRAY, President
Newcastle, Del.
H. V. LESLEY, Treasurer
Philadelphia, Pa.
PRINCIPAL OFFICE
PHILADELPHIA, Pa.
LENGTH OF CANAL-Delaware City to Back Creek
13.63 miles.
The Chesapeake and Delaware Canal was one of the first works of the kind
undertaken in the United States. The near approach of the two great in-
dentations of the coast formed by the Chesapeake and Delaware Bays
naturally suggested their connection, by artificial means, for commercial pur-
poses, as well as for the maintenance of internal communication in time of
war. In 1808 a careful survey of the route was made to ascertain its
feasibility for the proposed work, but nothing was done in the way of con-
struction till 1824, when the route was finally located and the work com-
menced. It involved many difficulties and obstacles not anticipated, and its
cost greatly exceeded the estimates, and it was not till the full of 1829 that
it was formally opened for business. For many years its revenues were
small, and the finances of the company were in an embarrassed condition.
It was not till some fifteen years after its opening that it earned the interest
on its debts. Up to 1847 the amount overdue had reached the sum of
$796,592. At that time the revenues of the canal had so increased as to
afford a prospect that, for the future, the earnings would discharge the
accruing interest, and a proposition was made to the bondholders to convert
the arrears into certificates due in twenty years, from 1st July, 1847, which
was acceded to. In 1853, a further loan, amounting to $195,900, was
authorized and made for the construction of new locks. In 1856, the bonds
of 1836, amounting to $1,593,185, became due, and for the purpose of fund-
ing these, and consolidating all the liabilities of the company into one class,
the canal and property of the company were mortgaged as security for a
new issue of bonds to the amount of $2,800,000, due in thirty years, from
1st July, 1856, and into which all the different classes of indebtedness have
been converted, with the exception of $72,056. Since 1847 the accruing
interest has been regularly met.
The canal commences in Delaware City, on the Delaware River, 42 miles
below Philadelphia, and runs to Back Creek, a tributary of Elk River,
which fulls into the Chesapeake Bay, a distance of about 131 miles. It has
three locks-one having a lift of 16 feet on the Chesapeake side, and two on
the Delaware side of 8 feet each. The locks are 220 feet by 24 feet, and
pass vessels drawing 9 feet water. There is also a tide lock at either ter-
minus. The deepest cut is about 86 feet. The canal is supplied with water
by pumping engines. It has a depth of 10 feet and a width of 66 feet.
SHARE CAPITAL- Paid in $1,343,563, in $100 shares.
72
569
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570
DELAWARE-CHESAPEAKE AND DELAWARE CANAL.
FUNDED DEBT-$2,729,400: described as follows-
1st Mortgage, 6 per cent., coupon bonds
$2,657,343
-dated 1st July, 1856, and payable in 30 years; interest payable 1st Jan.
and 1st July, in Philadelphia.
Loan of 1836 (due 1856)
$50,068
Loan of 1847 (due 1857)
$21,989
INCOME ACCOUNT FOR THE YEAR ENDING 31sr May, 1860.
Receipts-
Disbursements-
Balance on hand May 31, 1859
$15,298
Ordinary expenses at the canal
$27,693
Tolls received during the year ending
Water works-for fuel
4,501
May 31. 1860
216,256
"
"
for wages and repairs
5,245
Bills receivable
14,000
Incidental expenses
11,142
Income from temporary investment"
6,124
Interest
165,947
Income from sinking fund
6,752
Bills receivable
27,000
Income from money loaned out.
493
In hands of Treasurer
20,911
Rents and miscellaneous receipts
3,517
Total
$262,439
Total
$262,439
GENERAL STATEMENT, 1ST JUNE, 1860.
Dr.
Cr.
Cost of canal
$3,547,561
Capital stock.
$1,343,563
Cost of old feeder
110,925
Mortgage loan
2,657,343
Temporary investments.
62,923
Balance of funded debt of 1856
50,068
Sinking fnnd, vis:
Balance of funded debt of 1857
21,989
Stock of the Ches. and Del.
Canal Company
$100,000
Ches. & Del. Canal Co. mtge
loan in trust
112,532-
212,532
Dividend fund
74,380
Real estate on line of canal
16,731
Bills receivable
27,000
Balance
20,911
Total
$4,072,963
Total
$4,072,963
A GENERAL STATEMENT OF THE CHESAPEAKE AND DELAWARE CANAL COM-
PANY FROM ITS COMMENCEMENT.
Yr. end'g
Tolls
Total
Pass-
Coal.
Lumber.
Timber.
Grain:
Flour. Groceries, Dry G'ds.
June
1.
received.
tonnage.
ages.
tons.
sq. ft.
cubic ft.
bushela
barrels.
lbs.
lbs.
1830
$24,658
1831
61,223
5,280
7,118,734
289,173
101,462
1832
63,078
5,633
6,057,907
816,173
47,685
1833
61,160
6,790
11,236,600
299,448
20,002
1834
54,092
5,438
8,593,800
223,037
13,262
1835
47,511
4,889
18,143,000
130,610
13,350
1836
35,572
2,467
9,142,600
60,432
2,976
1837
56,482
5,433
20,400
24,423,780
1,200,000
40,483
11,269
1838
67,495
131,760
6,568
20,627
9,189,000
1,066,000
467,957
20,704
1,412,200
1839
67,518
120,260
6,034
21,293
13,921,300
928,340
415,763
15,100
1,093,900
1840
54,113
112,430
4,363
13,306
11,336,200
1,454,450
316,016
22,223
624,300
1841
69,415
125,980
6,384
13,748
9,381,140
1,012,000
481,634
40,811
6,192,825
1,021,539
1842
78,008
139,520
7,528
12,501
18,128,260
1,226,460
462,578
53,930
10,904,427
2,861,347
1843
66,018
127,200
5,973
10,629
11,447,880
772,600
597,482
62,387
9,916,838
3,541,283
1844
98,014
188,410
8,413
12,763
25,926,210
1,011,540
889,300
78,150
15,456,026
13,298,084
1845
97,559
195,040
8,778
17,625
21,886,400
1,125,000
957,915
62,491
16,578,868
15,568,715
1846
101,208
291,380
9,684
17,506
25,097,300
570,600
1,536,214
84,000
19,587,027
20,036,630
1847
167,510
341,580
12,054
29,276
38,616,500
2,026,300
1,981,511
164,573
25.440,044
21,321,585
1848
186,285
838,800
12,810
36,175
49,874,400
1,641,000
1,141,360
115,639
28,518,000
24,489,430
1849
173,030
351,550
11,802
39,314
42,548,300
1,944,340
1,667,262
91,910
27,918,910
21,520,982
1850
198,364
361,640
12,912
53,693
44,795,300
2,145,000
1,826,476
113,883
32,102,555
23,644,551
1851
215,889
389,440
13,582
60,016
46,454,000
2,231,400
1,831,000
133,760
36,450,925
22,342,426
1852
190,141
411,340
12,833
59,547
49,294,200
1,528,200
2,044,466
120,321
37,938,551
16,734,541
1853
246,283
477,680
15,065
86,985
58,967,800
3,881,800
2,017,900
128,418
40,169,190
17,681,640
1854
246,695
534,080
14,897
122,892
56,548,100
3,413,760
2,112,647
110,159
39,129,824
15,243,290
1855
225,224
536,970
14,391
177,524
62,261,590
2,930,130
1,470,337
115,825
37,846,732
14,276,983
1856
225,483
568,680
13,554
160,832
64,534,230
4,018,630
1,759,944
155,985
37,578,946
18,107,642
I857
229,081
616,170
14,628
202,983
65,144,450
2,899,700
1,908,359
201,391
36,641,696
14,755,419
1858
207,006
563,510
12,863
177,862
52,544,160
2,903,860
1,896,177
154,657
34,192,622
16,978,834
1859
202,350
496,100
12,134
175,144
35,648.230
2,151,540
1,065,422
100,510
34,358,372
26,812,465
1860
216,256
623,150
12,710
193,404
58,832,882
3,142,530
1,645,589
147,630
43,071,816
31,302,765
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DELAWARE-CHESAPEAKE AND DELAWARE CANAL
571
VESSELS, ETC., PASSED THROUGH AND TO PLACES ON THE CANAL.
Year.
West.
East.
Total.
I
West.
East.
Total
1854-
5
7,161
7.230
14,391
1857-8
6,535
6,328
12,863
1855-6
6,869
6,685
13,554
1858 9
6,021
6,113
12,134
1856-7
7,348
7,280
14,628
1859-60
6,411
6,299
12,710
ANALYSIS OF THE TRADE ON THE CANAL.-TOLLS, 1854-60.
1854.
1855
1856.
1857.
1858.
1859.
1860.
Baltimore
876,450
$76,070
$69,075
$76,457
$70,236
$75,250
$79,153
Havre de Grace
73,512
61,740
60,584
64,979
42,688
34,662
38,519
Port Deposit
38,281
33,393
47,635
32,573
36,462
36,868
34,573
Norfolk, &c
3,920
3,371
2,918
4,844
5,152
5,413
5,881
District of Columbia
4,725
4,236
5,563
6,016
6,546
8,856
9,742
Canal Levels
2,196
2,572
1,825
2,233
1,547
1,604
1,7!3
Cord Wood,
15,630
15,407
12,145
12,997
10,759
8,541
10,627
Chesepeake
Oysters
11,958
7,326
3,348
5,849
13,371
11,442
12,405
Bay.
Fresh Fish
2,256
3,402
2,845
3,023
2,344
2,374
2,213
Mdze. and Lime
15,637
15,501
17,383
17,922
15,145
15,244
19,264
Empty Vessel
2,131
2,206
2,162
2,187
2,756
2,096
2,165
$246,695
$225,224
$225,482
$229,081
$207,006
$202,350
$216,256
RECEIPTS AND EXPENSES ANNUALLY-1840-1860.
Year.
Tolls.
Expenses.
Profit.
Year.
Tolls.
Expenses.
Profit.
1841
$69,415
$31,743
$37,672
1851
$215,889
$47,387
$178,402
1842
78,008
36,618
41,390
1852
190,141
64,568
125,573
1843
66,018
31,087
34,931
1853
246,283
63,412
182,871
1844
98,014
35,280
62.734
1854
246,695
56,319
190,376
1845
97,559
34.872
62 687
1855
225,224
65,095
160,129
1846
101,208
25,469
75,739
1856
225 483
65,537
159,946
1847
167,510
35,544
131,966
1857
229,081
52,125
166,956
1848
186,285
42,820
143,465
1858
207,006
50,188
156,818
1849
173,030
40,563
132,467
1859
202,350
42,813
159,537
1850
198,364
44,011
154,353
1860
216,256
47,598
168,658
10 years
$1,235,411
$358,007
$877,404
10 years
$2,204,408
$555,142
$1,649,266
Average
123,541
35,801
87,740
Average
220,440
55,514
164,926
FINANCIAL STATEMENT FOR 10 YEARS-1851-60.
Share
Bonds
Bonds
Bonds Other Cost of Tempo. Sinking Divid. Other Balance.
Year.
Capital.
of
1836.
of
1847.
of 1856. Liabil's Canal. Invest's. Fund. Fund. Assets. Total.
s
$
$
1851
1,162,038
1,593,185
796,592
9,632 3,464,260
8,500
6,837
81.850 3,561,447
1852.
1,272,185
1,593,195
796,592
205 3,587,459
4,500
6,837
64,150 3,662,946
1853. 1,272,963 1,593,185 796,592
205 3,536,680 22,527
6,837
96,901 3,662,946
1854 1,272,963 1,593,185 796,592
20,205 3,609,232 28,527
6,837
38,250 3,682,946
1855
1,272,963
1,593,185
796,592
195,900 63.705 3,832,476 37,527
6,837
45,505 3,922,346
1856 1,272,963
235,437
102,766
2,461,632
4,000 3,864,199 96,326
6,837 34,246 65,560 4,077,168
1857
1,307,163
108,883
43,599 2,613,317
7,000
3,687,279
96,326
212,532
34,246
67,579
4,097,963
1858 1,307,163
81,806
33,273 2,650,721
3.683,555 96,326 212,532 34,246 46,303 4,072,963
1859. 1,307,163
71,298
32,100 2,662.402
3,674,000 99,476 212,532 37,827 49,129 4,072,963
1860. 1,343,563
50,068
21,989 2,657,343
3,658,486 62,923 212,532 74,380 64,642 4,072,963
The " dividend fund" was created in 1856, in pursuance of the mortgage
of that year, which required that $25,000 per annum should be used in the
purchase of the company's bonds, if such amount of surplus revenue should
be made, and that the bonds purchased should be cancelled and converted
into stock at par, and be divided among the stockholders at some future
time.
The " sinking fund" is simply the loans of the company, purchased for
the use of the company, as occasion may require.
Dividend No. 1, 3 per cent., was declared 1st June, 1853. No further
dividend has been paid.
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STATE OF MARYLAND.
ANNAPOLIS AND ELKRIDGE.
EASTERN SHORE.
BALTIMORE CITY PASSENGER.
GEORGE'S CREEK.
BALTIMORE AND OHIO.
MARYLAND AND DELAWARE.
BALTIMORE AND PHILADELPHIA.
METROPOLITAN.
BALTIMORE AND PORT DEPOSIT.
NEWCASTLE AND FRENCHTOWN.
BALTIMORE AND PoToMac.
NEWCASTLE AND WILMINGTON.
BALTIMORE AND SUSQUEHANNA.
NORTHERN CENTRAL.
CUMBERLAND COAL AND IRON.
WASHINGTON BRANCH.
CUMBERLAND AND PENNSYLVANIA.
WESTERN MARYLAND.
DELAWARE AND MARYLAND.
WILMINGTON AND SUSQUEHANNA.
Maryland was one of the earliest among the States to engage in the con-
struction of railroads. The Baltimore and Ohio Railroad Company was char-
tered in 1827, and the Baltimore and Susquehanna Railroad Company in
1828. Both these undertakings were largely aided by the State, and also
by the city of Baltimore. The first was designed to connect this city with
the Ohio River, and the latter to connect it with the public works of Penn-
sylvania and New York and the basin of the St. Lawrence. They were
works of absolute necessity, and without them the port of Baltimore must
have sunk into comparative insignificance.
The construction of the Baltimore and Ohio Railroad was commenced on
the 4th July, 1828, and shortly after, the first section of the road extending
from Baltimore to Ellicott's Mills, 14 miles, was put under contract. This
section was completed in 1830.
In 1831 the first section of the Baltimore and Susquehanna Railroad, ex-
tending from Baltimore to the Relay House, a distance of 7 miles, was
brought into use; and in the same year the Baltimore and Ohio Railroad
was extended to Frederick City, 47 miles beyond Ellicott's Mills.
In 1832 the Baltimore and Ohio Railroad was extended to the Point of
Rocks, 8 miles, and the Baltimore and Susquehanna Railroad to Timonium,
4 miles. The Westminster Branch of the latter, extending from the main
line, 7 miles N. Baltimore, to Owings' Mills, 9 miles, was also completed.
No additional mileage was completed in 1833. In the following year the
Baltimore and Ohio Railroad was extended to Harper's Ferry, 12 miles be-
yond the Point of Rocks.
In 1835 the Washington Branch of the Baltimore and Ohio Railroad, ex-
tending from the main line, 9miles W. Baltimore, to the national capital, 30 miles
Digitized by Google
STATE OF MARYLAND.
573
was completed. The State supplied one-third, and the Baltimore and Ohio
Company two-thirds of the capital invested in the work. This has been very
productive, the earnings having paid for 20 years, an average dividend on the
investment of 6 per cent., and for the last three years dividends equal to 9
per cent. per annum. It has also paid to the State since 1839, in transit duty
on passengers, $1,096,000, or nearly $50,000 a year, being one-fifth of the
gross receipts from passengers, as stipulated for in the charter granted
to the company.
In 1836 the Maryland and Delaware Company of Maryland, and the
Wilmington and Susquehanna of Delaware, were consolidated under the
name of the latter.
In 1839 the whole length of the road from Wilmington, Del., to the Sus-
quehanna River, about 35 miles, of which about 22 miles are in Maryland,
was completed and opened for public use. In the same year the Baltimore
and Port Deposit Railroad, extending from the terminus of the road last
mentioned to Baltimore, was finished and in connection therewith, and with
the Philadelphia, Wilmington and Baltimore Railroad of Pennsylvania,
opened a continuous line from Philadelphia to Baltimore. In the following
year the several companies owning these roads were consolidated into the pre-
sent Philadelphia, Wilmington and Baltimore Company.-(See Pennsylvania.)
In 1838 that section of the Baltimore and Susquehanna Railroad, extend-
ing from Timonium to the State Line of Pennsylvania, 25 miles, was com-
pleted, and also the York and Maryland Line Railroad, chartered in Pennsyl-
vania in 1832, but owned and constructed by the Baltimore and Susquehanna
Company. The greater portion of the funds used in the construction of the
Baltimore and Susquehanna Railroad was furnished by the State of Mary-
land and city of Baltimore, by subscription to stock or by loans of their
credits. Only $250,000, or about one-twentieth part of its liabilities, were
contributed by individuals. No dividends were declared during the exist-
ence of the company, nor interest paid on its loans from 1840. In 1854 the
company was merged into the Northern Central Railroad Company.
In 1839 the Maryland section of the Franklin Railroad, about 6 miles,
was completed.
In 1840 the Annapolis and Elkridge Railroad, 22.51 miles, was completed.
To this work the State subscribed $300,000 in bonds, of which $219,378
were issued. It has probably never earned more than its operating expenses.
In 1842 the Baltimore and Ohio Railroad was extended from Harper's
Ferry to Cumberland, a distance of 97 miles. Towards the construction of
this portion of the road the State made a subscription of $1,058,420, being
one-fifth of the estimated cost of the line within its limits.
From 1842 to 1851 no additional roads were opened, except in the Cum-
berland mining district, in which the Cumberland and Pennsylvania Company
constructed a road from Cumberland to Frostburg, and the Maryland Mining
Digitized by
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574
STATE OF MARYLAND.
Company one from Cumberland to its own mines, each about 10 miles in
length. Several shorter roads were also constructed in the same district.
These, however, are used solely for mining purposes.
In 1851 the Baltimore and Ohio Railroad was extended from Cumberland
to Piedmont, 28 miles;
In 1852 the same road was completed from Piedmont to Fairmount,
96 miles; and
In 1853 the whole line from Baltimore to Wheeling, 380 miles, was
opened for public use. In the meantime several new roads had been
opened in the Cumberland mining district, among which was the George's
Creek Railroad, completed in 1852. The Cumberland and Pennsylvania
Railroad had also been extended about 5 miles beyond Frostburg. For
the 30 years ending with 1859 the total earnings of the Baltimore and
Ohio Railroad had been $39,349,141, and the net earnings, after deducting
current expenses, $17,421,250. From this amount, $4,589,866, or an average
of $186,329 per annum had been divided to the stockholders, and $6,092,377
applied to construction, and placed to the credit of profit and loss. The
balance was applied to the payment of interest, etc. It is now proposed to
capitalize the earnings applied to construction, and divide them among the
stockholders.
The consolidation of the Northern Central Railroad took effect on the 1st
January, 1855, and the unfinished works of the company were at once re
sumed. These consisted of the Susquehanna Division, extending from
Bridgeport to Sunbury, 54 miles, and the Tide-Water Section, extending
from Rockdale to Canton, about 4 miles. The Susquehanna Division (all of
which lies within Pennsylvania) was completed in sections as follows-
In 1856 from Dauphin to Millersburg, 19 miles;
In 1857 from Millersburg to Trevorton, 15 miles;
In 1858 from Trevorton to Sunbury, 11 miles; and the section between
Dauphin and Bridgeport, including the Susquehanna Bridge, 10 miles. No
dividends have been declared by the Northern Central Company.
In 1858 there was also completed the first section of the Western Mary-
land Railroad, extending from the Northern Central Railroad to Owings'
Mills, 10 miles. This road to the point completed occupies the place of the
Westminster Branch, which has been abandoned.
In 1859 the Tide-Water Section of the Northern Central was completed.
In the same year the Western Maryland Railroad was extended from Owings'
Mills to Reisterstown, 5 miles; and
In 1860 the last named road was continued to Finksburg, 3 miles further
west. In 1860 there was also opened the first section of the Eastern Shore
Railroad, a continuation of the Delaware Railroad into Maryland. The
Franklin Railroad having been newly ironed, was also re-opened this year.
The Maryland and Delaware Railroad, which will extend from Smyrna,
Digitized by Google
STATE OF MARYLAND.
575
Del., to Easton and Oxford, Md., is in progress, and also a City Passenger
Rai.road in Baltimore.
STATEMENT, exhibiting the Share Capital and Debts of the several Railroad Companies,
distinguishing the amounts of Productive and Unproductive in each
Corporate Titles
Share Capital
Funded
Total Indebtedness
of Companies.
Prod'tv. Unprod'tv.
Total.
Debt.
Prod'tv. Unpro'tv.
Total.
Annapolis and Elkridge
$353,000
$353,000
$73,000
$73,000
$73,000
Baltimore and Ohio
13,118,902
13,118,902
10,782,833
11,068,067
11,068,067
Eastern Shore
225,600
225,600
23,100
23,100
23,100
Maryland and Delaware
50,000
50,000
Northern Central
2,260,000
2,260,000
5,578,800
6,335,441
6,335,441
Washington Branch
1,650,000
1,650,000
25,000
44,869
44,869
Western Maryland
300,000
300,000
Total
$14.768,902
3,188,600
17,957,502
16,482,733
17,544,477
17,544,477
The preceding table does not include the coal carrying roads of the Cum
berland district. Exclusive of these the total capital invested in the railroads
of Maryland amounts to $35,478,879. Of this sum $17,957,502 is repre-
sented by share capital; $16,482,733 by bonds, and $1,038,644 by floating debt.
Of the share capital the sum of $14,768,902, or 82.3 per cent. of the whole
amount is productive. The whole sum of the capital derived from bonds
and credits is productive or interest paying. To the unproductive capital
should be added the balance of the profit and loss account of the Baltimore
and Ohio Railroad, from which the stockholders at present derive no revenue.
With this sum the total capital invested in the railroads of the State is
$41,571,256. A small per centage of this amount, however, has been ex-
pended on account of connecting roads outside the State.
The mileage, total cost, and cost per mile of the several railroads of the
State has been as follows-
Railroads.
Mileage.
Total cost.
Cost per mile.
Annapolis and Elkridge
205
$442,000
$21,563
Baltimore and Ohio
379.6
24,891,415
65,573
Eastern Shore
6.5
100,000
15,384
Northern Central
142.0
8,244,636
58,061
Washington Branch
30.0
1,650 000
55,000
Western Maryland
18.0
360,000
20,000
Total
596.6
$35,688,051
$59,819
The aggregate earnings of the railroads of Maryland for the term (30
years) embraced in the following table, and on a total mileage of 8,5221 miles,
have been $55,543,562. Of this amount there was earned for the transpor.
tation of passengers $17,206,386, for the transportation of merchandize
$35,740,026, and for the transportation of mails, etc., $2,597,150. The cur-
rent expenditures for the same term and on the same mileage amounted to
$31,883,328, leaving a balance of $23,660,234 as net earnings. The amount
paid in dividends was $6,767,766. The ratio of earnings on the cost of the
road has been 12.53 per cent., of the current expenses 7.19 per cent., and of
net earnings 5.34 per cent. The dividends paid have averaged 2.36 per
cent. on the share capital invested.
Digitized by
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RAILROADS IN THE STATE OF MARYLAND.
STATEMENT showing the Share Capital, Indebtedness, Cost, Mileage, Receipts for transportation of Passengers, Receipts for transportation of
Freight, Receipts for transportation of Mails, Operating Expenses, Earnings less Expenses, and Dividends paid by the Railroad
Companies of the State of Maryland, for each year, since the opening of the first road in 1830:
Capital Account-
Cost of
Miles
Gross Earnings
Operating
Earnings
Amount
Year.
Share-
Funded
Floating
Total
Road &
of
Passenger. Freight. Mail, etc. Total.
Expenses
less
of
Capital.
Debt.
Debt.
Capital.
Equipment.
Road.
& Repairs.
Expenses.
Dividend.
Year.
1830...
$1,299,301
$
$57,318
$1,356,619
$1,178,165
14 00
$14,711
$
$
$14,711
$11,985
$2,726
8
1830
1831...
2,082,307
49,501
2,132,108
2,079,107
61.00
27,250
4,155
31,405
10,995
20,410
1831
1832...
2,302,500
163,008
2,465,508
2,279,841
69.00
67,910
69,027
136,937
75,673
61,264
69,075
1832
1833...
3,451,299
150,000
231,205
3,832,504
3,188,725
89.00
93,233
121,147
1,300
215,680
152,485
63,195
30,061
1833
1834...
3,479,100
1,150,000
212,918
4,842,018
3,619,222
101 00
104,182
131,255
4,108
239,545
158,402
81,143
1834
1835...
3.497,517
4,500,000
262,722
8,260,239
3,911,251
101.00
113,540
189,828
4,729
308,097
191,216
116,881
45,002
1835
1836...
6,117,910
4,857,000
281,652
11,256,562
5,761,196
131.00
253,126
198,186
7,209
458,521
347,937
110,584
1836
Digitized by Google
1837...
6,611,812
5,377,500
298,218
12,287,530
6,105,299
131.00
275,625
235,676
6,801
518,102
429,125
88,977
1837
1838...
7,110,660
6,355,500
317,500
13,783,660
6,251,333
131.00
326,694
288,539
7,197
622,430
446,581
175,849
1838
1839...
7,632,980
6,438,711
442,000
14,513,691
8,113,794
178.50
430,182
283,260
8,816
722,258
511,975
210,283
66,000
1839
STATE OF MARYLAND.
1840...
8,199,230
6,473,732
580,066
15,253,028
8,722,917
178.50
431,940
334,349
8,065
774,354
493,501
280,853
154,250
1840
1841...
8,954,207
6,807,345
724,972
16,486,524
8,997,094
199.00
414,392
363,898
17,984
796,274
464,070
332,204
229,000
1841
1842...
9,200,578
6,918,222
891,324
17,010,124
12,023,708
296.00
378,498
390,963
16,746
786,207
424,759
361,448
82,500
1842
1843...
9,453,000
7,008,048
922,718
17,383,766
12,212,911
296.00
420,345
395,385
73,227
888,957
500,705
388,252
214,250
1843
1844...
9,453,000
7,008,048
957,621
17,418,669
12,333,822
296.00
509,082
459,119
69,624
1,037,825
547,551
490,274
274,000
1844
1845...
9,453,000
7,008,048
1,031,222
17,492,270
12,534,410
296.00
546,010
494,530
90,535
1,131,075
621,799
509,276
99,000
1845
1846...
9,453,000
7,189,200
1,123,772
17,765,972
12,617,100
296.00
601,293
643,683
91,905
1,336,881
762,948
573,933
309,000
1846
1847...
9,453,000
7,307,345
1,311,291
18,071,636
12,985,461
296 00
651,527
843,407
101,335
1,596,269
913,542
682,727
259,500
1847
1848...
9,453.000
7,822,111
1,721,722
18,996,833
13,890,479
296.00
667,487
958,379
106,289
1,732,155
993,925
738,230
285,150
1848
1849...
9,453,000
8,315,213
1,819,751
19,587,964
14,140,479
296.00
644,613
1,065,777
99,540
1,809,930
1,005,405
804,525
460,302
1849
1850...
10,053,000
8,527,333
2,117,510
20,697,843
14,397,256
296.00
675,654
1,165,773
125,180
1,966,607
986,488
980,119
654,959
1850
1851...
10,572,900
9,493,325
2,872,343
22,938,568
18,880,590
324 00
665,857
1,252,455
151,602
2,069,914
1,135,531
934,383
634,393
1851
1852...
12,141,600
9,729,313
2,917,211
24,788,124
24,542,107
420.00
869,257
1,166,247
189,255
2,224,759
1,211,560
1,013,199
740,181
1852
1853...
15,572,202
8,634,358
3,683,093
27,889,653
27,300,028
498.00
888,551
1,922,963
184,194
2,995,708
1,825,975
1,169,733
459,099
1853
1854...
15,572,202
10.553,764
4,709,827
30,835,793
29,333,098
498.00
1,003,259
3,416,496
198,609
4,618,364
2,726,260
1,892,104
99,000
1854
1855...
17,302,202
13,057,406
739,953
31,099,561
30,124,572
523.00
1,143,901
3,445,575
181,629
4,771,105
2,793,461
1,977,644
107,250
1855
1856...
17,302,202
14,314,339
399,480
32,016,021
31,848,672
523 00
1,236,854
4,169,048
233,122
5,639,024
3,257,971
2,381,053
443,598
1856
1857...
17,302,202
15,166,505
1,540,269
34,008,976
33,744,458
547.50
1,294,321
4,423,134
213,677
5.931,132
3,104,296
2,826,836
451,848
1857
1858..
17,302,202
16,221,413
1,132,178
34,655,793
34,835,826
568.50
1,204,789
3,733,004
222,189
5,159,982
3,238,447
1,921,535
148,500
1858
1859..
17,302,202
16,434,933
1,041,935
34,779,070
35,228,071
572.50
1,252,303
3,574,768
182,283
5,009,354
2,538,760
2,470,594
451,848
1859
30
yrs $286,533,315 222,818,712 34,554,600 543,906,627 443,179,992 8.522 50 17,206,386 35,740,026 2,597,150 55,543,562 31,883,328 23,660,234 6,767,766 60 Yrs.
Average. 9,551,110
7,427,290
1,151,820
18,130,221
14,772,666
284.08
573,546
1,191,334
86,572
1,851,452
1,062,777
788,675
225,592 Av'ge.
NOTE.-The roads included in this table are the Annapolis and Elkridge, the Baltimore and Ohio, the Baltimore and Susquehanna and its successor, the
9'9
Northern Central, and the Washington Branch. The Philadelphia, Wilmington and Baltimore, and the Franklin, are included in the tabulat. on for the
Pennsylvania railroads. The coal companies keep no separate accounts for their railroads, and are altogether omitted.
RAILROADS OF THE STATE IN DETAIL.
ANNAPOLIS AND ELKRIDGE RAILROAD.
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
Abram Claude
Annapolis, Md.
Thomas S. Alexander
Annapolis, Md.
Joseph Nicholson
"
:
Benjamin E. Garnett
"
"
Alexander Randall
"
"
D. C. Hyde,
Directors on
"
"
John S. Selman
"
"
N. Judge,
"
"
N. Brewer.
~~~~~~~~~~~~~~~~~~~~~~~~~
the part of
"
"
George Franklin
the State.
"
"
ABRAM CLAUDE, President
Annapolis, Md.
THOMAS GAITHER, Treasurer and Secretary
"
"
JOSHUA BROWN, Superintendent
"
"
PRINCIPAL OFFICE
ANNAPOLIS, Ann Arundel, Co., Md
LENGTH OF RoAD-Annapolis to Junction, (18 miles S. W.
Baltimore)
20.51 miles.
Second track, none. Sidings, turnouts, etc., about 2 miles.
The Annapolis and Elkridge Railroad Company was chartered by the Legis-
lature of Maryland on the 21st March, 1837. The work of construction was
commenced on 4th July, 1838, and the road completed and opened for traffic
on 26th December, 1840. The State subscribed $300,000 to the share capi-
tal of the Company, of which $220,000 have been paid in.
SHARE CAPITAL-Authorized, $500,000; Paid in, $50 shares, $353,000.
FUNDED DEBT-$73,300: being 1st Mortgage 6 per cent. bonds.
CosT OF ROAD AND EQUIPMENT-$442,000. No detail.
BALTIMORE CITY PASSENGER RAILROAD.
On the 19th March, 1849, Jonathan Brock and associates, citizens of
Philadelphia, obtained permission from the city councils to lay down about
40 miles of railroad track in the public streets. The permission was granted
on the consideration that the grantees should pay into the city treasury
20 per cent. of the gross receipts from passengers carried over the road, the
same to constitute a fund for the purchase and laying out of a site for a pub-
lic park. Ground was broken and construction commenced in the ensuing
May, and up to August, 1860, there had been completed and brought into
successful operation 10 miles of road. In the meantime the owners had paid
into the city treasury, as per agreement, about $50,000. The equipment
consists of 65 cars and about 400 horses and mules. A charter for the for-
mation of a company was passed by the Senate at the last session of the
State Legislature, 1859-60, but the Assembly refused to grant the con-
cession.
73
577
Digitized by Google
578
MARYLAND-BALTIMORE AND OHIO.
BALTIMORE AND OHIO RAILROAD.
(Financial year ending 30th September, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
For Baltimore City.
For State.
For Shareholders.
Thorndick Chase,
Stephen T. C. Brown,
Francis Burns,
William Chestnut,
John Coates,
Allen A. Chapman,
James Harvey,
Benjamin G. Fitzhugh,
John Gregg,
J. Henderson,
Robert Fowler,
William A. Hack,
L. McComas,
William W. Johnson,
John Hopkins,
Henry C. Smith,
Henry S. Lankford,
John Spear Nicholas,
E. L. Thomas,
G. W. Robinson,
C. Oliver O'Donnell,
H. Tyson,
John M. Smith,
Samuel W. Smith,
N.L. Wood.
William H. Stewart,
Wesley Starr,
George P. Whittaker.
William W. Taylor,
H. A. Thompson.
JOHN W. GARRETT, President
Baltimore, Md.
J. I. ATKINSON, Treasurer and Secretary
"
"
WILLIAM PRESCOTT SMITH, Master of Transportation
"
"
PRINCIPAL OFFICE
BALTIMORE, Md.
LENGTH OF ROAD-Main Line, Baltimore to Wheeling
379.06 miles
Second track, including sidings, turnouts, switches, etc., 102.22 miles.
Washington Branch Railroad
30.0
Sec. track, includ. sidings, turnouts, switches, etc., 5.72 miles.
North-Western Virginia Railroad
103.5-133.5
"
Sec. track, includ. sidings, turnouts, switches, etc., 8.14 miles.
Total length of road owned, leased and operated by company
513.1 miles.
ROLLING STocK-Locomotive engines in passenger service, 28; in coal, stock
and tonnage service, 145 in other service, 13; under or awaiting re-
pairs, 39 extras, not in service, 10
235
Passenger Cars—On Main Line, 91 ; and on Washington Branch, 35. 126
Burden
" On Main Line, and N. W. Virginia Railroad, ton-
nage, 1,688 stock, 150 coal, 1,290 ballast, 128, and snow-
ploughs, 16
3,272
Washington Branch, tonnage, 146; stock, 2, and snow-ploughs, 2.. 150- 3,548
The Baltimore and Ohio Railroad Company was incorporated in the State
of Maryland on the 28th February, and in the State of Virginia on the 8th
March, 1827, with authority to construct a railroad from Baltimore to some
eligible point on the Ohio River, with a capital of $5,000,000, and the right of
organizing on the subscription of one-fifth that amount. The required sub-
scription of $1,000,000 having been obtained, the Company was organized
in the following April, and the surveys of the route at once undertaken
under the superintendence of Col. S. H. Long and Jonathan Knight. To
aid them several members of the United States Topographical Corps were
detailed by the General Government. A report of the preliminary surveys
was made in April, 1828, and the road located to the Point of Rocks during
the ensuing summer. On the 4th July, ground was broken at Baltimore by
the venerable Charles Carroll, of Carrollton, and shortly after the first sec-
tion, extending to Ellicott's Mills, was put under contract. The remaining
distance to the Point of Rocks was not let till the following summer.
At the close of 1828, the capital subscribed amounted to $4,000,000, of
which $3,000,000 had been taken by individuals, $500,000 by the City of Bal-
timore, and $500,000 by the State of Maryland. Application for aid was
made to Congress in the same year, but failed of success.
Digitized by Google
MARYLAND-BALTIMORE AND OHIO.
579
In 1830, a section of the road, within the limits of the city, was constructed.
In 1837 it was extended to Frederick City, and in 1832, to the " Point of
Rocks." At this place the Chesapeake and Ohio Canal Company had appro-
priated to itself, for its proposed work, the narrow gorge through the
mountains, and it was not until several years had elapsed that this obstacle
to the further progress of the road was removed, through the interposition of
the Legislature.
On the 9th March, 1833, a charter for the Washington Branch was obtained.
It contained a stipulation that one-fifth of the gross earnings from passengers
should be paid over for the benefit of the State the amount so paid not to
be less than 25 cents from each passenger transported over the road. The
construction of this branch was soon after commenced, surveys of the route
having been previously made. Towards its construction the Baltimore and.
Ohio Company contributed $1,016,800. It was opened from the junction to
Bladensburg, 24 miles, on the 20th July, and to Washington, 30 miles, on the
25th August, 1835.-(See Washington Branch Railroad.)
Up to 1831, the trains were drawn over the road by horse-power. In
January of that year, the Company offered $4,000 for the most approved
locomotive engine, of American manufacture, to burn coal or coke, and $3,000
for the second best. Three engines were tendered the company, but only one,
the York," built by Phineas Davis, was accepted. This engine was mounted
on four wheels, the movement being obtained by means of gearing, with a
pinion and spur-wheel on one of the axles. By this engine a speed of 15
miles the hour was obtain on curves, with radii of 400 feet, and double this
speed on straight lines.
The portions of the road first built, were constructed with a flat bar, laid,
in some cases, on a stone foundation; in others, upon longitudinal sills. The
stone sub-structure was soon dispensed with, and a new improved pattern of
rail came early into use.
In 1834, the road was opened to Harper's Ferry. In 1836, surveys were
made for the extension of the road to Cumberland and Wheeling, for which
purpose $3,200,000 were subsequently subscribed by the State. In the same
year, the viaduct over the Potomac River, at Harper's Ferry, was com-
pleted, and a connection formed with the Winchester and Potomac Railroad.
At an early period in the history of the Company, permission had been
obtained from the State of Virginia, for the location of the road through a
portion of its territory. The time having elapsed in which the road was to
be constructed, an act was passed, 1838, enlarging the time to five years, and
requiring the Company to locate within the State, (with the exception of five
miles,) its road from Harper's Ferry to Cumberland. This act also designated
the City of Wheeling as the western terminus of the road. At the same
time the State made a subscription to the capital stock of the Company to the
amount of $1,058,420, being one-fifth of the estimated cost of road within its
limits. This act was accepted by the Company, and the line to Cumberland
placed under contract, and completed on the 5th November, 1842.
No progress had been made in the construction of the road beyond Cum-
berland from 1842 to 1847, the authority granted by the State of Virginia
having expired. In the last named year, another act enlarging the time was
obtained. The cost of the extension to Wheeling was estimated at $6,000,000.
In 1849, the means for resuming work were provided by the negotiation of
the bonds of the State granted to the Company. From that date it was
vigorously pressed forward, and on the 12th January, 1853, the whole line
formally opened for business. The road, however, was in an unfinished state,
Digitized by
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580
MARYLAND-BALTIMORE AND oHTo.
and an application was made to the City of Baltimore for a loan of $5,000,000,
to be secured by a mortgage upon it. The application was granted, and the
proceeds of the loan were expended, in arching the numerous tunnels on
the line of the road, in laying a double track on a portion of it, and in various
other improvements. The total length of all the tunnels on the road is 12,804
feet; the longest being the Kingwood tunnel, of 4,137 feet.
The Parkersburg Branch, (North Western Virginia) Railroad Company
was chartered on the 14th February, 1851. The construction of its road was
commenced in December, 1852, and it was so far completed that cars passed
over its whole length on the 1st May, 1857. This road was built under the
joint auspices of the City of Baltimore and the Baltimore and Ohio Railroad
Company. The City guaranteed $1,500,000 of its 1st Mortgage bonds, and
the Baltimore and Ohio Company $1,000,000 of its 2d Mortgage bonds.
Since that period, exclusive of an additional guarantee of $500,000 bonds,
the Baltimore and Ohio Railroad Company has advanced on account of the
road, $1,795,326. In this advance, under agreement with the North Western
Company, has been included $90,000 per annum for interest paid on the bonds
for which the Company is guarantor. In June, 1859, the Council of the
City appropriated, for five years, 25 per cent. of the dividends on its stock in
the Baltimore and Ohio Company, to aid the North Western Company in
completing the tunnels on the line of its road. This road is operated under
a contract, dated 27th December, 1856, by the Baltimore and Ohio Company,
and which took effect on the 1st January, 1857. The contract is for five
years, and may be renewed at the option of the lessee, for a second term.
The rent paid is 40 per cent. of the gross earnings.-(See N. W. V. RR.)
SHARE CAPITAL-$13,118,902: classified as follows-
-held by individuals
54,262
shares
$5,426,200
-held by the State of Maryland
6,856
"
685,600
-held by the City of Baltimore
35,000
"
3,500,000
-held by the City of Wheeling
5,000
"
500,000
Total ordinary share capital
101,118
"
$10,111.800
Script, not funded
71.02 "
7,102
Preferred, 6 per cent., Stock
30,000
"
3,000,000
The " Preferred Stock" was subscribed by the State of Maryland in 1838
and paid for in 5 per cent. sterling bonds, and is a first lien on the road.
FUNDED DEBT-$10,781,833; classified as follows-
Mortgage, 6 per cent., loan
$1,000,000
-issued in 1834, and payable, principal 1st January, 1867, and interest
quarterly in January, April, July and October, at Baltimore.
Mortgage, 6 per cent., coupon bonds
$700,000
-issued in 1850, and payable, principal in 1880, and interest semi-annually,
1st January and 1st July, at Baltimore.
Mortgage, 6 per cent., coupon bonds
$2,500,000
-issued in 1853, and payable, principal in 1885, and interest semi-annually,
1st April and 1st October, at Baltimore.
City Loan, 6 per cent., bonds
$5,000,000
-in 1855, and payable, principal in 1890, and interest semi-annually, at Bal.
timore. Issued to the city of Baltimore in exchange for a like amount issued
by the city for the benefit of the railroad company.
Digitized by Google
MARYLAND-BALTIMORE AND OHIO.
581
Mortgage, 6 per cent., coupon bonds
$453,333
-dated 1st January, 1850, and payable, principal 1st January, 1860, and
interest semi-annually, 1st January and 1st July, at Baltimore. Of these
bonds $334,000 are held in Sinking Fund for the redemption of mortgage
debts. They were issued in payment for iron.
Mortgage, 6 per cent., coupon bonds
$1,128,500
-dated 1st January, 1855, and payable, principal 1st January, 1875, and
interest semi-annually, 1st January and 1st July, at Baltimore.
SINKING FUNDS.
The Company has established and has in operation three Sinking Funds
for the redemption of its debts, namely:
1. For the redemption of the $5,000,000 City loan.-This fund was established in
accordance with the ordinance of the City Council granting the loan, which stipu-
lated for the retention of $500,000 to be invested as a sinking fund. The fund
including the accrued interest now Amounts to $671,615.
2. For the redemption of the mortgage debts.-This fund was established, under a re-
solve of the Board of Directors, passed on the 17th December, 1856, which appro-
priated the sum of $113,333 annually, being about one per cent. of the share capital
for the redemption of its mortgage debt, The first payment was made for 1857.
The fund now amounts to $413,222, being three years' contributions with interest.
The proceeds have been invested in the purchase of the Iron Bonds which matured
in 1857, '58 and '59.
4. For the redemption of ground rents on Camden Station.-This fund was established
in 1853, and now amounts to $60,710.
FLOATING Девт.-$285,324, viz. : open accounts, $81,190; unclaimed dues,
$19,942, and Washington Branch Railroad, $184,192.
Cosr OF ROAD AND EQUIPMENT-On the 30th Sept., of the following years:
1853.
1854.
1855.
1856.
1857.
1858.
1859.
Road, etc.
$16,799,451
$17,224,574
$17,529,779
$17,795,555
$18,167,210
$18,470,945
$18,513,854
Second track
513,248
960,315
996,777
1,130,039
1,489,437
1,548,341
1,548,340
Rolling stock
2,596,895
2,975,427
3,131,798
3,239,549
3,515,784
3,538,360
3,576,253
Real estate
798,433
1,058,534
1,101,850
1,139,583
1,241,487
1,244,999:
1,252,968
Total
20,708,028
22,218,850
22,760,205
23,304,726
24,413,918
24,802,645
24,891,415
INCOME ACCOUNT FOR THE YEAR ENDING 30TH SEPTEMBER, 1859.
Receipts-
Disbursemento-
Passenger earnings
$690,207
Road department.
$405,451
Freight
"
2,771,637
Machinery "
709,914
Mails express, etc
156,774
Transportation depart.
533,487
General expenses.
36,146-$1,684,998
Balance to Profit and Loss
1,933,620
Total
$3,618,618
Total
$3,618,618
PROFIT AND Loss ACCOUNT FOR THE YEAR ENDING 30TH SEPTEMBER, 1859.
Dr.
Cr.
Dividend, 3 p. c., (paid 18th May, '59.)
$303,348
Balance from 1858
$5,052,275
Discount on bonds of City of Balt
1,199
Balance from income, 1859
1,933,620
Interest.
726,224
Dividend Washington Branch stock
91,512
Ground rents
25,320
Increment of Sinking Funds
60,620
Virginia State tax on passengers
11,594
Rent (W. Br. Co.) use of shops, etc
17,127
Balance to credit.
6,092,317
House rents
4,848
Total
$7,160,002
Total
$7,160,002
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582
MARYLAND-BALTIMORE AND OHIO.
GENERAL LEDGER BALANCE SHEET, 1ST OCTOBER, 1859.
Cr.
Share capital
$13,118,902
Road, etc.
en
Funded debt
10,781,833
Loans bonds and stocks*
Open accounts
81,190
Sinking Funds
Unclaimed dues
19,942
Bills receivable
Washingington Branch Railroad Co.
184,192
Outstanding dues
Profit and Loss
6,092,317
Uncollected revenue
Materials-Machinery department
"
Road department
Cash in hands of officers
Balance in treasury
Total
$30,278,376
Total
$
The following statement exhibits the financial condition of the com
the end of each financial year since the completion of the road in 185
1853.
1854.
1855.
1856.
1857.
1858.
Liabilities-
Share capital
$13,118,902
$13,118,902
$13,118,902
$13,118,902
$13,118,902
$13,118,902
s
Funded Debt
5,677,013
7,596,419
9,494,506
9,754,939
10,165,905
10,752,313
Bills payable
1,975,000
2,129,769
480,484
58,500
820,899
284,653
Open accounts.
408,093
134,078
189,073
19,840
22,203
44,162
Washington Br
115,704
163,149
147,856
Profit and Loss.
1,075,331
1,902,247
2,692,491
3,833,072
4,434,216
5,052,275
Resources-
Road & equip
$20,708,028
$22,218,850
$22,760,205
$23,304,726
$24,413,918
$24,803,646 8
Wash. Br. stock.
1,016,800
1,016,800
1,016,800
1,016,800
1,016,800
1,016,800
Stocks and b'ds.
985,178
964,698
579,951
1,153,226
1,498,149
Sinking Funds.
301,830
30,547
378,047
489,086
683,754
937,284
Bills receivable.
210,000
482,587
481,982
487,606
Sun'y balances.
227,680
224,124
211,096
337,585
360,037
348,720
Materials
318,894
293,734
262,567
532,907
235,771
Balancein Treas
87,023
160,876
427,655
82,645
72,185
Total
22,254,338
24,881,416
25,975,456
26,900,957
28,725,269
29,400,161
The coal tonnage of the road in 1859 was as follows :
Delivered at
Locust
Way
Consumed
Points of Departure.
Point.
Baltimore.
Stations.
Total.
by Com'y.
Cumberland
90,079
5,337
1,368
96,785
Piedmont
175,091
30,845
14,595
220,532
44,772
Newburg
21,588
1,143
22,731
8,169
Nuzum's
400
400
Fairmount.
556
2,724
3,280
251
Total
265,170
58,728
19,830
343,729
53,192
Equivalent to one ton carried 74,484,740 miles. The revenue from this species of fi
$834,380.
The following table shows the quantity of coal delivered at Baltim
also the total freight-tonnage from 1843 to 1859 inclusive :
Year.
Coal.
Total.
Year.
Coal.
Total.
Year.
Coal.
1843
4,964
52,634
1849
71,699
176,610
1855
451,870
1844
5,687
57,107
1850
132,534
230,388
1856
446,013
1845
16,021
71,061
1851
139,110
246,724
1857
490,943
1846
18,394
94,670
1852
132,306
252,243
1858
310,529
1847
50,259
158,466
1853
308,890
459,495
1859
323,898
1848
67,289
157,405
1854
444,817
661,597
* Bonds, stocks and dues, viz:-Bonds of Central Ohio Railroad Company, $400,000
Ohio Railroad Company, $41,371; Western Telegraph Company, $2,191; stock of Pitts
Connellsville Railroad Company, $35,000; North-Western Virginia Railroad Company, S
Wellersburg and West Newton Plank Road Company, $6,050; stock of Washington Bra
road Company, $1,016,800.
Digitized by Google
MARYLAND-BALTIMORE AND OHIO.
583
WASHINGTON BRANCH RAILROAD.
INCOME ACCOUNT FOR THE YEAR ENDING 30TH SEPTEMBER, 1850.
Receipts-
Disbursements-
Passenger earnings
$335,256
Road department
$22,382
Freight
"
106,963
Machinery
"
61,692
[N. B.-Mails, express, etc., included in
Transportation depart
79,915
passenger earnings.]
General expenses.
9,494
Losses by accident.
196-$173,679
Balance to Profit and Loss
268,540
Total
$442,219
Total
$442,219
PARKERSBURG BRANCH* (N. W. VIRGINIA) RAILROAD.
INCOME ACCOUNT FOR THE YEAR ENDING 36TH SEPTEMBER, 1849.
Receipts-
Disbursements-
Passenger earnings
$40,320
Road department
$76,979
Freight earnings
199,851
Machinery department
68,543
[N. B.-" Mail and express" included
Transportation department
50,175
in passenger earnings.]
General expenses
2,214
Losses by accident
359
Balance
41,901
Total
$240,171
Total
$240,171
The total earnings of all the roads operated by the Baltimore and Ohio
Company for the two years ending 30th September, were as follows :-
Year.
Balt. & Ohio.
N. W. Virg.
Wash. Br.
Total.
1858-Passengers
$681,878
$41,030
$345,367
$1,068,275
Freight
3,174,607
206,974
124,056
3,505,637
Total
$3,856,485
$248,004
$469,423
$4,573,912
1859-Passengers
$690,207
$46,320
$335,256
$1,068,275
Freight
2,928,411
199,851
106,963
3,235,225
Total
$3,518,618
$240,171
8442 219
$4,301,009
Decrease in 1859
$237,867
$7,833
$27,204
$272,903
The whole number of passengers carried on the several roads in 1859 was
as follows :-
Passengers
Passengers carried one mile
Going East. Going West.
Total.
Going East.
Going West.
Total.
Balt. and Ohio
145,425
157,004
302,429
5,354,403
8,222,527
13,577,939
N.W Virginia
16,531
15,529
32,060
798,424
572,436
1,370,860
Wash. Branch
187,845
165,504
353,349
6,398,a75
4,965,263
11,363,938
Total
349,501
338,037
687,838
12,551,502
13,761,226
26,312,728
The whole tonnage of freight transported in 1859 was as follows :-
Tons of Freight
Tons carried one mile
Going East. Going West.
Total.
Going East.
Going West.
Total.
Balt. and Ohio
659,325
222,751
882,076
130,262,755
33,631,668
163,894,423
N W. Virginia
83,094
29,897
112,991
8,047,950
2,788,579
10,836,520
Washington Branch
28,033
50,456
78,489
304,650
1,076,389
1,381,039
Total
770,452
303,104
1,073,556
138,615,355
37,496,636
176,111,991
Deduct tonnage to and from Main Stem :
Carried on N. W. Virginia RR 103,815
"
Washington Branch. 72,245-176,060
Net tonnage hauled over all the lines.
897,496
Table showing the quantity of freight (in tons of 2,000 lbs.,) which has
been transported over the Baltimore and Ohio Railroad and the Parkers-
See "Northwestern Virginia," under head " Railroads of Virginia."
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584
MARYLAND-BALTIMORE AND OHIO.
burg Branch Railroad, between Baltimore and the stations on the Ohio
River since the completion of the lines :
Eastward from-
1853.
1854.
1855
1856.
1857.
1858.
1859.
Wheeling
21,014
90,368
65,047
Benwood
-
132,955
Moundsville
7,732
12,643
n
31,512
19,100
103,198
68,001
44,752
Parkersburg
23,125
70,571
71,245
Total Eastward
21,014
90,368
72,779
145,598
126,323
170,084
135,127
Westward to-
Wheeling
15,183
37,492
39,864
52,559
31,002
14,343
11,657
Benwood
7,008
21,598
22,383
34,497
Moundsville
120
459
615
583
599
128
56
Parkersburg
10,919
18,053
21,316
Total Westward
15,303
37,951
40,484
60,150
64,088
54,907
66,526
Total through tonnage
36,317
128,319
105,531
205,748
190,411
224,991
201,653
Abstract of the tonnage transported easterly from stations on the main
stem and delivered at Baltimore for the years ending 30th September :
1832
29,416
1839
44,852
1846
94,670
1853
459,495
1833
37,166
1840
60,503
1847
158,466
1854
661,597
1834
36,192
1841
40,482
1848
157,405
1855
622,589
1835
46,979
1842
36,616
1849
176,610
1856
703,377
1836
40,805
1843
52,634
1850
230,388
1857
723,019
1837
40,696
1844
57,107
1851
246,724
1858
578,085
1838
45,663
1845
71,061
1852
252,243
1859
566,214
1st seven yrs
276,917
2d seven years
363,255
3d seven yrs.
1,316,506
Average
39,559
Average
51,894
188.072
I
4th seven yrs 4,314,377
Average
Average
616,339
COST
OF
EARNINGS,
EXPENSES,
ETC.,
OF
THE
"Main
STEM"
YEARLY.
Cost of
Mile-
Gross Earnings
Operating
Earnings,
Div
Year.
Road, etc.
age.
Passenger.
Freight.
Total.
expenses.
less exp.
Am't.
p.c.
1830
$1,178,165
14.00
$14,711
$
$14,711
$11,985
$2,726
1831
2,000,000
61.00
27,250
4,155
31,405
10,995
20,410
$69,075
3
1832
2,250,000
69.00
67,910
69,027
136,937
75,673
61.264
1833
2,500,000
69 00
83,233
121,447
195,680
138,485
57,195
30,061
1
1834
3,000,000
81.00
89,182
116,255
205,437
138,402
67,035
nil.
nil.
1835
3,311,250
81.00
93,540
169,828
263,368
161,216
102,152
45,002
1
1836
3,474,600
81.00
128,126
153,186
281,312
212,937
68,375
nil.
nil.
1837
3,600,000
81.00
145,625
155,676
301,301
289,125
12,176
"
"
1838
3,800,000
81.00
166,694
198,530
365,224
271,581
93,643
"
"
1839
4,000,000
81.00
173,860
233,487
407,347
312,700
94,647
"
"
1840
4,000,000
81.00
177,035
255,848
432,883
275,189
157,694
80,000
11
1841
4,000,000
81.00
179,616
211,454
391,070
239,622
151,448
130,000
2
1842
7,450,000
178.00
181,177
245,315
426,492
216,715
209,777
nil.
nil.
1843
7,570,911
178.00
274,617
300,618
575,235
295,833
279,402
140,000
2
1844
7,641,822
178.00
336,876
321,743
658,619
311,633
346,986
175,000
21
1845
7,742,410
178.00
369,882
368,721
738,603
363,841
374,762
nil.
nil.
1846
7,725,100
178.00
413,341
468,346
881,687
454,840
426,847
210,000
3
1847
8,064,597
178.00
447,020
654,917
1,101,937
590,829
511,108
210,000
3
1848
8,798,479
178.00
434,540
779,124
1,213,664
662,106
551,558
227,400
34
1849
8,798,479
17800
394,497
846,708
1,241,205
644,634
596,571
361,302
51
1850
8,798,619
178.00
395,830
945,975
1,341,805
609,589
732,216
531,209
7
1851.
13,038,590
206.00
355,155
994,067
1,349,222
695.919
653,303
568,393
7
1852
18,000,000
302.00
375,654
949,809
1,325,563
710,179
615,384
608,181
7
1853
20,708,028
380.00
464,245
1,569,174
2,033,419
1,235,627
797,792
294,099
3
1854
22,218,850
380.00
569,091
3,076,518
3,645,909
2,026,512
1,619,397
nil.
nil.
1855
22,760,205
380 00
608,299
3,103,154
3,711,453
2,110,363
1,601,090
"
"
1856
23,304,726
380.00
672,999
3,712,952
4,385,951
2,384,779
2.001,172
303,348
3
1857
24,413,918
380 00
732,262
3,884,736
4,116,998
2,260,785
1,856,213
303,348
3
1858
24,802,646
380 00
681,877
3,174,609
3,856,486
2,531,199
1,325,287
nil.
nil.
1859
24,891,415
380.00
690,207
2,928,411
3,618,618
1,684,998
1,933,620
303,348
3
30
yrs.303.842,810
5,423.00
9,744,351
29,604,790
39,349,141
21,927,891
17,421,250
4,589,866
Aver. 10,128,094
180.77
324,812
986,826
1,311,638
730,930
580,708
186,329
2
NOTE-The dividends from 1848 to 1852 inclusive were paid in stock.
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MARYLAND-BALTIMORE AND POTOMAC.
585
BALTIMORE AND PHILADELPHIA RAILROAD.
(Now a part of the Philadelphia and Baltimore Central Raiiroad.)
LENGTH OF ROUTE-Baltimore to the State Line of Pennsylvania
411 miies.
The Baltimore and Philadelphia Railroad Company was chartered in May,
1852, and organized in October, 1853. On the 25th June, 1854, the Com-
pany was consolidated into the Philadelphia and Bultimore Central, and in
June, 1856, the work of construction was commenced in Cecil County. All
operations within Maryland have been suspended since the fall of that year.
BALTIMORE AND PORT DEPOSIT RAILROAD.
(Now a part of the Philadelphia, Wilmington and Baltimore Railroad..
LENGTH OF ROUTE-Baltimore to the Susquelianna River
36 miles.
The Baltimore and Port Deposit Railroad Company was chartered on the
30th January, 1834, and authorized to construct a road from Baltimore to
Port Deposit on the Susquehanna, a distance of 36 miles. The capital was
fixed at $1,000,000, in 10,000 $100 shares. The route was subsequently
changed, its north-east terminus being placed at Havre de Grace instead of
Port Deposit. The road was completed and opened for use in 1837. On
the 5th February, 1838, the company was consolidated into the Philadelphia,
Wilmington and Baltimore, the shareholders receiving 19,000 shares of the
stock of the new corporation.
BALTIMORE AND POTOMAC RAILROAD.
JOHN S. SELLMAN, President
Governor's Bridge, Anne Arundel Co., Md
JOHN S. GITTINGS, Treasurer
Baltimore,
"
LENGTH OF ROUTE-Baltimore to Port Tobacco or Smith's Point, about 70 miles.
Branch to Alexandria
" 10 "
The Baltimore and Potomac Railroad Company was chartered by the Legis-
lature of Maryland on the 5th May, 1852, with a capital of $1,000,000; and
authorized to construct and maintain a railroad between Baltimore and Port
Tobacco or Smith's Point, on the Potomac river. At either of the latter
points a steam-ferry would connect the road with the Richmond, Frederick
and Potomac Railroad, the northern terminus of which, at Acquia Creek
Landing, is the initial point of the great line of Railroads to the South and
Southwest. The company was organized on the 19th December, 1858, and
the survey of the route commenced at the Patapsco river on the 3d May,
1859. It has also been proposed to construct a branch from Upper Marl-
boro' to a point opposite Alexandria, a distance of about 10 miles. No part
of this roud has been placed under construction. The cost of the work,
ncluding equipment, is estimated at less than $20,000 per mile.
74
Digitized by Google
586
MARYLAND-BALMRE AND SUSQUEHANNA.
BALTIMORE AND SUSQUEHANNA RAILROAD.
(Now a portion of the Northern Central Railroad.)
LENGTH OF Road-Baltimore to State Line of Pennsylvania.
36 miles.
York to State Line of Maryland
22 "
Westminster Branch
9 "
Total length of road owned by Company
67 mlles.
The Baltimore and Susquehanna Railroad Company was chartered on the 13th
March, 1828, with authority to construct a road from Baltimore to the north
line of the State, and there connect with any railroad that might be con-
structed in Pennsylvania with a design to continue the line northward. The
work of construction was commenced in the year following, and the road
completed and opened for traffic to the Relay House, 7 miles from Baltimore,
on the 4th July, 1831, and to Timonium, 11 miles, on the 16th October,
1832. In the same year the branch to Owings' Mills, 9 miles, was brought
into use. The section from Timonium to the State line, 25 miles, was com-
menced in May, 1835, and completed in the early part of 1838. In 1832 the
York and Maryland Line Railroad Company was chartered in Pennsylvania
and the road completed shortly after the opening of the northern division of
the Baltimore and Susquehanna in 1838. This road was wholly constructed
and owned by the Maryland Company. From this date the trains of the
Maryland Company were run between Baltimore and York. The Company
also operated from the date of their completion the Wrightsville, York and
Gettysburg Railroad, and the Hanover Branch Railroad, (which see)-the
earnings and expenses of which are included in the general tabular state-
ment of cost, earnings, etc. On the 10th April, 1854, the Legislature of
Maryland passed an act authorizing the consolidation of the Baltimore and
Susquehanna, the York and Maryland Line, and the York and Cumberland
Companies. A similar act was passed by the Legislature of Pennsylvania
on the 3d May of the same year. This consolidation, having been approved
by the stockholders of the several companies, was consummated on the 4th
December following, and on the 1st January, 1855, the new Company com-
menced operations.
The means for constructing the Baltimore and Susquehanna Railroad,
with its extension to York, and including the amount invested in the
Wrightsville road, was derived from the following sources:
Share Capital-Individual $250,000, State $100,000 and Baltimore $100,000 total
$450,000
Loans-State of Maryland 1834-39
$1,884,045
Loans-City of Baltimore on which no interest was paid from 1840, and which
it was finally agreed by the city should be placed in the footing of
stock until the Company should pay off its debt to the State
850,000
Loans-Company's bonds, with a preferred lien authorized by act of 1850, with
a view to increase the equipment of the road
150,000-2,884,045
Actual amount of funds supplied to construction and equipment.
$3,334,045
-Upon which amount of capital the Company was indebted for interest, at date of con-
solidation :-
1.-Arrears on $1,884,045, funded by the State, 1st March, 1851, on issue of Company's
bonds, without interest for 15 years
$1,035,980
2.-Arrears of interest, not funded, on same from 1850 to date of consolida-
tion, about
400,000-1,435,980
Total stock subscription and debt.
$4,770,025
From this deduct amount invested in Wrightsville, York and Gettysburg RR. $255,615
And in Westminster Branch Railroad.
150,000 405,615
$4,364,410
-which expended on 57 miles of road, is equivalent to a fraction over $76,100 to the mile.
Digitized by Google
MARYLAN-METROPOLITAN.
587
The last balance sheet, that of the 1st October, 1854, exhibited the follow-
ing statement of the resources and liabilities of the Company at that date:
CONDENSED FINANCIAL STATEMENT, 1ST OCTOBER, 1854.
Dr.
Cr.
Road, Baltimore to York
$2,911,697
Share capital
$450,000
Locomotive and cars
475,525
Loan, State of Maryland
1,884,045
Interest and discounts
1,635,024
Interest on State loan funded
1,035,980
Stock of W., Y. & G. RR. Co
125,765
Loan, City of Baltimore
850,000
Sundries
39,594
Loan, company's bonds
150,000
Cash and investments
$261,624
Dividend W., Y. & G. RR., etc.
2,538
Bills payable, notes, etc.
94,743-
166,881
Balance from earnings
981.924
Total
$5,354,487
Total
$5,354,487
CosT, EARNINGS, EXPENSES, ETC., YEARLY.
Cost of
-Miles of Road-
Gross Earnings
Operating
Net
Year.
Road,
etc.
Owned*
Opera'd
Pass'rs.
Freight.
Mails.
Total.
Expenses.
Earn's Div.
1839.
$2,463,794
67.5
67.5
$49.033
$49,773
$816
$99,622
$68,092
$31,530 nil.
1840.
2,463,764
67.5
80.5
52,150
78,501
8,065
138,716
90,764
47,952
"
1841.
2,463,764
67.5
80.5
48,398
97,067
7,484
152,949
90,937
62,012
"
1842.
2,500,000
67.5
60.5
42,047
89,374
6,246
137,667
87,141
50,526
"
1843.
2,550,000
67.5
805
35,728
77,385
6,284
119,397
86,238
33,159
"
1844.
2,600,000
67.5
80.5
42,206
99,376
6,435
148,017
114,249
33,768
"
1845.
2,700,000
67.5
80.5
46,128
111,533
7,000
164,661
130,239
32,422
"
1846.
2,800,000
67.5
80.5
52,952
150,683
7,000
210,635
162,486
48,149
"
1847.
2,828,864
67.5
80.5
64,507
185,407
7,000
256,914
179,902
77,012
4:
1848.
3,000,000
675
80.5
73,487
160,379
7,000
240,866
169,294
71,572
"
1849.
3,250,000
67.5
80.5
80,116
187,777
7,000
274,893
185,580
89,313
"
1850.
3,506,637
76.5
80.5
89,824
181,773
7,000
284.597
186,668
97,929
"
1851.
3,750,000
67.5
107.5
110,702
244,455
7,000
362,157
228,901
133,256
"
1852.
4,000,000
67.5
120.5
133,603
269,247
10,824
413,674
295,170
118,504
"
1853.
4,500,000
67.5
120.5
164,306
325,789
18,134
508,229
301,997
206,232
"
1854.
5,022,248
67.5
120.5
174,168
357,992
22,366
554,526
441,501
113,025
"
16
yrs
50,399,071
1,080.0
1,442.0
1.259,355
2,672,511
135,654
4,067,520
2,819,159
1,248,361
"
Aver..
3,149,941
67.5
88.9
78,709
167,032
8,478
254,220
176,197
78,023
"
METROPOLITAN RAILROAD.
(Financial year ending 3d April, 1860.)
BOARD OF DIRECTORS AND OFFICERS, 1860-61.
Daniel Weisel,
B. O. Tayloe,
B. B. French,
H. S. Davis,
W. H. Edes,
F. Rhisque,
F. C. Clopper,
U. Ward,
A. H. Pickrell,
J. G. Berret,
D. English,
F. Dodge.
J. W. DEEBLE, Treasurer and Secretary
Georgetown, D.C.
PRINCIPAL OFFICE
GEORGETOWN, D.C.
LENGTH OF RoAD-Washington City to a junction with the Ballimore and
Ohio Railroad near Point of Rocks
41 miles.
The Metropolitan Railroad was chartered in the District of Columbia by
the National Legislature on the 3d March, 1853, and by the Legislature of
Maryland on the 5th April of the same year. The work of construction
was commenced in 1854, and several miles in the District of Columbia
graded. The total amount expended was about $50,000, which was received
in stock subscriptions. The amount of stock subscribed was $325,200. The
work of construction has been discontinued since 1856.
Including the York and Maryland Line Railroad, 22 miles built and, in fact, owned by this
company, although continued as a separate organization until the consolidation 1st January, 1855.
Its cost is included in the general accounts of this company.
Digitized by Google
588
MARYLAND-CUMBERLAND AND PENNSYLVANIA.
CUMBERLAND AND PENNSYLVANIA RAILROAD.
(Financial year ending 31st December, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1860-61.
J. B. Varnum
New York City, N.Y.
John F. Winslow
Troy, N.Y.
F. H. Delano
"
"
John A. Graham
Mt. Savage, Md.
JOHN A. GRAHAM, President
Mt. Savage, Md.
GEORGE E. LEONARD, Treasurer
"
"
E. STACK, Superintendent
"
"
PRINCIPAL OFFICE
NEW YORK CITY, N.Y.
LENGTH OF RoAD-Main Line: Cumberland to Lonaconing
25 miles.
Branch Line: to Miller Mines, 1½ mile, and to Ch. & Ohio Can., 1 mile.
Second track, 3 miles. Sidings, turnouts, etc., 41 miles.
ROLLING STocK-Locomotive engines (wood burning, 8; coal burning, 8)
16
ars:-passenger, 2; freight, 50; coal, 149: working, 7
208
The Cumberland and Pennsylvania Railroad Company was chartered on the
13th March, 1850. Construction was commenced on the first section of 9
miles in 1848, and completed in 1844; on the second section of 5 miles in
1851 and completed in 1852, and of the remaining distance in 1856 and com-
pleted in 1857.
SHARE CAPITAL-Authorized, $1,000,000, in 10,000 $100 shares. (All paid.)
FUNDED DEBT-$250,000 described as follows-
1st Mortgage, 6 per cent., bonds
$250,000
-issued in 1856, and payable, principal in 10 years, and coupons semi-
annually, 1st May and 1st November, at the St. Nicholas Bank, in New
York City.
FLOATING DEBT-$4,992.
COST OF ROAD AND EQUIPMENT-$1,254,992 in detail as follows—
Graduation and masonry
$686,692
Locomotive engines
$85,000
Bridges
34,000
Passenger and baggage cars
4,000
Superstructure, including iron
250,000
Freight cars.
104,800
Stations, buildings and fixtures
4,500
Engineering and agencies
Engine and car houses, shops, machin-
Discount and interest
ery, etc
30,000
All other expenses (materials, etc.)
22,000
Land, land-damages and fences.
34,000
INCOME ACCOUNT FOR THE YEAR ENDING 31sT DECEMBER, 1859.
Receipts-
Disbursements-
Passenger Earnings
$5,034
Transportation expenses
$26,302
Merchandize
5,002
Repairs-Rondway
14,872
Coal
101,147
"
Machinery
10,565
Mail
152
"
Cars
4,516
Miscellaneous receipts.
1,151
Salaries and office expenses
4,659
Dividends
51,573
Total
$112,487
Total
$112,487
GENERAL STATEMENT, 1ST JANUARY, 1860.
Dr.
Cr.
Cost of railroad and appurtenances. $1,039,192
Share capital
$1,000,000
Cost of Equipment
215.800
Funded debt.
250,000
Floating debt
4,992
Total
$1,254,992
Total
$1,254,992
Digitized by Google
MARYLAND-CUMBERLAND COAL AND IRON.
589
STATEMENT OF THE COAL TRANSPORTED 1842-'59 INCLUSIVE.
Delivered to
Delivered
Total
Delivered to
Delivered
Total
Year.
B & Ohio RR
to canal.
Delivery.
Year.
B. & Ohio RR.
to canal.
Delivery.
1842
757
757
1851
70,893
51,438
122,331
1843
3,661
3,661
1852
128,534
46,357
174,891
1844
5,156
5,166
1853
150,381
84,060
234,441
1845
13,738
13,738
1854
148,953
63,731
212,684
1846
11,240
11,240
1855
93,961
77,095
171,056
1847
20,615
20,615
1856
86,994
80,387
167,381
1848
36,571
36,571
1857
80,743
55,274
135,917
1849
63,676
63,676
1858
48,018
166,712
214,730
1850
73,783
3,167
76,950
1859
48,415
211,639
260,054
1st 9 years.
229,197
3,167
233,364
2d 9 years
856,892
836,593
1,693,485
Average
25,466
352
25,818
Average
95,210
92,955
188,165
-making a total for the 18 years, inclusive, of 1,925,849 tons, or an annual
average for the whole period of 106,991 tons.
REVENUE AND EXPENSES FROM JANUARY 1854 TO JANUARY 1860.
Total
Year.
Net
Total
Revenue.
Expenses.
Year.
Revenue.
Net
Tonnage.
Rev'nue
Tonnage.
Expenses.
Rev'nue
1854
508,182
$78,495
$34,294
$44,201
1857
313,341
$58,382
$29,567
$28,815
1855
384,145
63,073
30,405
32,667
1858
382,867
95,734
55,575
40,159
1856
422,077
66,913
28,173
38,740
1859
432,112
112,487
60,914
51,573
3
yrs
1 314,404
$208,481
$92,872
$115,609
I
3 yrs.1,128,320
$266,603
$146,056
$120,547
CUMBERLAND COAL AND IRON COMPANY'S RAILROAD.
(Financial year ending 1st January, 1859.)
OFFICERS OF THE COMPANY, 1859-60.
CHARLES GOULD, President.
EDWARD H. TRACY, Chief Engineer.
DAVID PALMER, Vice-President.
RICHARD H. PHIPPS, Secretary.
PRINCIPAL OFFICE
Wall Street, cor. Broadway, NEW YORK CITY, N. Y.
LENGTH OF RoAD-Cumberland to Eckhart
10.40 miles.
Branch to Hoffman's Mine, 1.6 m., and to Astor Mine, 2 m. 3.60
"
The Cumberland Coal and Iron Company was chartered in 1850 and com-
menced business in 1851 with a capital of $5,000,000. In April, 1852, the
property of the Maryland Mining Company was purchased for the sum of
$825,000, which was paid for in bonds. This property included the railroad
which was constructed in 1846. The Branch to Hoffman's Mine was con-
structed in 1856, and that to the Astor Mine in 1858. The tramways and
mine roads in and about the mines probably exceed in length the railroad
and branches. The cost of the railroad is not given in the published accounts
of the company, nor the receipts and expenses distinct from its mining opera-
tions. The following shows the annual shipments of coal by the Bradock's
Run route since the commencement of operations 1842, 951 tons; 1843,
6,421; 1844, 9,724; 1845, 10,915; 1846, 18,555; 1847, 33,325; 1848,
43,000; 1849, 78,773; 1850, 119,898; 1851, 135,348; 1852, 159,287; 1853,
225,813; 1854, 263,115; 1855, 290,634; 1856, 235,414; 1857, 174,186;
1858, 156,593. The report for 1859 has not been published.
SHARE CAPITAL-$5,000,000, (all paid in,) in $100 shares.
FUNDED DEBT
$393,000 I FLOATING DEBT
$48,106
COST OF PROPERTY-fincluding lands, mines, road, cars, boats, etc.,)-$5,400,000
Digitized by
Google
590
MARYLAND-EASTERN SHORE RAILROAD.
DELAWARE AND MARYLAND RAILROAD.
(Now a part of the Philadelphia, Wilmington and Baltimore Railroad.)
LENGTH OF Road-Delaware State Line to Susquehanna River
000 milo
The Delaware and Maryland Railroad Company was chartered in Marc
1832, and authorized to construct a road from the borders of Delaware 1
the Susquehanna River, with a capital of $400,000 in $50 shares. In Jur
of the year 1835 contracts were made for the graduation and bridging, an
in July construction was commenced. In April, 1836, articles of unio
were agreed upon between the Wilmington and Susquehanna and the Del
ware and Maryland companies, whereby the two were consolidated into or
corporation with the name of the former, and the whole road was complete
and opened for business in 1837. On the 5th February, 1838, the Compan
was merged into the Philadelphia, Wilmington and Baltimore, the stoc
holders receiving 16,000 shares in the new corporation.
EASTERN SHORE RAILROAD.
(Statement supplied on .the 21st June, 1860.)
BOARD OF DIRECTORS AND OFFICERS, 1860-61.
J. W. Cresfield
Princess Anne, Md.
P. Toadvine
Salisbury, M
W. W. Johnston
"
"
J. D. Jones
Princess Anne, "
C. Humphreys
Salisbury,
"
S.S. Coster
Somerset Co., "
J. W. CRESFIELD, President
Princess Anne, Md.
W. J. BRITTINGHAM, Treasurer and Secretary
"
"
E. Q. SEWALL, Engineer
Wilmington, Del.
PRINCIPAL OFFICE
PRINCESS ANNE, Somerset Co., M
LENGTH OF Road-State Line of Delaware (Delmar) to Salisbury
6.50 mile
Second track, none. Sidings. turnouts, etc., 1 mile.
The Eastern Shore Railroad Company was chartered by the Legislature o
Maryland in 1853, and the Company was organized Oil the 22d February
1859. The work of construction was commenced in the following Octobe
and the first section of the road completed and brought into use in Apri
1860. The line is continuous with the Delaware Railroad now completed t
the State line of Maryland, and will be extended to Tangier Sound
31½ miles, south from Salisbury, where it will connect with a line of steam
boats to Norfolk, Va.
SHARE CAPITAL-Amount unlimited in $50 shares.
Subscribed, $225,650 in,
"
-of which about one-half is from private subscription, and one-half th
State's subscription.
FUNDED Девт—$23,100 : described as follows-
1st Mortgage, 6 per cent., coupon bonds
$23,10
-dated 1st January, 1860, and payable, principal in 20 years, and coupon
semi-annnally, 1st January and 1st July, at the Girard Bank, Philadelphia
The whole amount provided for under the mortgage is $400,000.
Cost OF ROAD AND APPURTENANCES-$76,606. No detail.
The estimated cost of the whole road to completeness is stated at $410,000
Digitized by Google
MARYLAND-NEWCASTLE AND FRENCHTOWN.
591
GEORGE'S CREEK RAILROAD.
This Railroad extends from Westernport on the Potomac northward to
Lonaconing and a junction with the railroad of the Cumberland and Penn-
sylvania Company, a distance of 20 miles. It. is a work used solely for the
transportation of coal. It was completed in 1852, and has since carried the
following coal tonnage-in 1853, 73,725 tons; in 1854, 181,840 tons; in
1855, 292,905 tons; in 1856, 313,591 tons; in 1857, 303,994 tons; in 1858,
365,432 tons, and in 1859, 421,442 tons.
MARYLAND AND DELAWARE RAILROAD.
(Financial year ending 30th November, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
Samuel Humbleton
Easton, Md.
James Merrick
Queen Anne's Co., Md.
H. H. Goldsborough
"
"
William Haughton
Arthursville, Del.
David Knotts
Hillsborough,
"
Richard Carter,
State
J. P. Manlove
Greensborough,
"
Jas. D. Martin,
G. W. Goldsborough
n
Direct-
~~~~
Denton, Md.
Easton, "
"
"
J. M. Robinson,
ors.
Centreville, "
TENCH TILGHMAN, President
Oxford, Md.
J. C. W. POWELL, Treasurer and Secretary
Easton, "
PRINCIPAL OFFICE
EASTON, Talbot Co., Md.
LENGTH OF ROAD-In Delaware: Smyrna to Maryland State Line
13.50 miles.
In Maryland: Oxford to Delaware State Line
40.00 "
The Maryland and Delaware Railroad Company was chartered in Maryland
in 1854, and in Delaware in 1857. and empowered to construct a railroad
from the town of Smyrna on the Delaware Railroad, to Oxford on the
Choptank, an arm of Chesapeake Bay, a length of 531 miles. Of the share-
capital of the company, which is unlimited in amount, the State of Maryland
has subscribed $140,350, being part of the $8,000,000 loan of 1835, and also
part of the $847,000 due the Eastern Shore Railroad Company. The State
of Delaware has appropriated the sum of $114,000 in aid of the Company.
The work of construction was commenced on the 27th December, 1857, and
to date the graduation and masonry has been completed from Smyrna to
Greensborough, a distance of 24 miles. It is proposed to complete the
whole line before the end of 1862, at an estimated cost of $535,000, or
$10,000 per mile.
SHARE CAPITAL-Unlimited, in $25 shares-Paid in, $50,000.
FUNDED DEBT-$500,000 : described as follows—
1st Mortgage, 6 per cent. coupon bonds
$500,000
-dated 1st July, 1860, and payable, principal in 20 years, and coupons
semi-annually, 1st January and 1st July, at the Girard Bank in Philadelphia.
No portion of these bonds has as yet been sold. There is a sinking fund
of $5,000, payable semi-annually, applicable to this mortgage.
ESTIMATED CosT OF RoAn-$535,000, or $10,000 per mile.
NEWC TLE AND FRENCHTOWN RAILROAD.
(See Newcastle and Frenchtown Railroad of Delaware.)
Digitized by Google
592
MARYLAND-NORTHERN CENTRAL RAILROAD.
NORTHERN CENTRAL RAILROAD.
(Financial year ending 31st December, 1859.)
BOARD OF DIRECTORS AND OFFICERS, 1860.
Charles George Ridgely
A. Fuller Crane
On the Part of the City of Baltimore.
On the Part of the Stockholders.
James Frazier,
Adam Denmead,
Simon Cameron,
Alexander Sn
Peter Mowell,
John Merryman,
Amos E. Kapp,
J.S. Haldem
Wm. T. Walters,
Aaron Hoffman,
Wm. Colder, Jr.,
Wm. Camero
JOHN S. GITTINGS, President
Baltimore,
ROBERT S. HOLLINS, Secretary
"
JOHN S. LEIB, Treasurer
"
A. B. WARFORD, General Superintendent and Chief Engineer
"
PRINCIPAL OFFICE
BALTIMORE, Baltimore Count
LENGTH OF RoAD-Main Line-Baltimore to Sunbury
138
Branch Line-Rockdale to Canton
4
Total length of road owned by company
142
Second track, none; sidings turnouts, etc., 14½ miles.
Leased and Rented.
on
Sunbury and Erie RR., Sunbury to Lock Haven. 67
Wrightsville, York, and Gettysburg RR
13- 80
Total mileage operated by company
218
ROLLING STOCK-Locomotive engines
Cars:-(8-wheel) passenger, 31; baggage, 8
39
(8-wheel) house-freight, 265; gondola, 146; stock, 5
416
(6-wheel) house-freight, 4; lumber, 61; wood, 13; lime,
45; stone, 9.
132
(4-wheel) house-freight, 57; lumber, 156; lime, 140;
wood, 18; powder, 2; coal, 785 dump, 10; ore,
32
1,200-
The Northern Central Railroad Company is a consolidation of the Balti
and Susquehanna, the York and Maryland Line, the York and Cumber
and the Susquehanna Companies.
The " Baltimore and Susquehanna" (which see) was chartered on the
February, 1828, and the road opened to the Relay House, 7 miles from
timore, on the 4th July, 1831, and to Timonium, 11 miles, on the 16th Oct
1832. The section from Timonium to the State line, 25 miles, was comme
in May, 1835, and completed in the early part of 1838.
The " York and Maryland Line" (which see) was chartered on the
March, 1832, and the road, 22 miles long, completed in August, 1838.
The " York and Cumberland" (which see) was chartered on the 21st b
1846, and the road, 27 miles long, completed in February, 1851.
These several roads were operated by the Baltimore and Susqueh
Company, and formed a continuous line from Baltimore to Bridgep
distance of 84 miles. The Company also operated, from the dates of
completion, the Wrightsville, York and Gettysburg Railroad (which see)
Westminster Branch Railroad (which see), and the Hanover Branch Rai
(which see).
The " Susquehanna" was chartered on the 14th April, 1851, but no po
of the road was completed before the consolidation.
The acts authorizing the consolidation were passed in Maryland on the
March, and in Pennsylvania on the 3d May, 1854; and the union was
Digitized by Google
MARYLAND-NORTHERN CENTRAL.
593
summated on the 4th December of the same year, and became operative on
the 1st January, 1855.
One of the first resolves of the new company was to complete the Susque-
hanna division of the road from Bridgeport to Sunbury, and to extend the
line from the city to a junction with the Philadelphia, Wilmington and
Baltimore Railroad at Canton. The work of construction was commenced
on the former division in the spring of 1856, and the road was completed and
opened for business, from Dauphin to Millersburg, on 1st January, 1857, to
Trevorton on 1st July of the same year, and to Sunbury on the 1st August,
1858. The section between Bridgeport and Dauphin, including the bridge
over the Susquehanna River, was completed early in the last named year.
The Canton Branch was completed early in 1859.
On the 1st April, 1859, a line of telegraph was completed between Sunbury
and Bridgeport, at a cost of $4,312, and between Harrisburg and Baltimore,
on the 11th November, 1859, at a cost of $6,500-making the whole cost of
the line from Sunbury to Baltimore, including the distance from Bridgeport
to Harrisburg, $10,812. In addition to this, the Company has the free use
of the line of the Susquehanna River and North and West Branch Telegraph
Company for the transmission of all messages relating to the business of the
road.
On the consolidation, the Company assumed the contracts of the Baltimore
and Susquehanna Company, with the companies owning connecting lines,
namely :-The Westminster Branch, the Hanover Branch, and the Wrights-
ville, York and Gettysburg Companies. The contracts with the two first
named, terminated with the year 1858, and have not been revived. The
contract with the latter was for seven years, from 1st October, 1852. On the
15th September, 1859, a new contract was made (see Wrightsville, York and
Gettysburg), to commence on the 1st October, 1859, and to end on the 31st
December, 1854. On the 10th June, 1858, the Company also entered into an
agreement with the Sunbury and Erie Company, to operate its road from
Sunbury to Lock Haven, a distance of 67 miles. Under this agreement, the
Northern Central Company commenced running the Sunbury and Erie Rail-
road (which see from Sunbury to Williamsport, 40 miles, in July, 1858, and
from Williamsport to Lock Haven, in July, 1859.
SHARE CAPITAL-Authorized, $8,000,000, in 160,000 $50 shares.
Paid in, - 2,260,000, in 45,141 full and 59 part paid shs.
-which are held as follows—
By the City of Baltimore, (subject to ordinance No. 57, of 1854,) which upon comple-
tion of railroad, will revert to the company.
4,000 shares.
By the company, investment
848
"
"
sinking fund
4,335--
5,183
"
By individuals
36,017 "
FUNDED DEBT-$5,578,800 classified as follows—
Baltimore and Susquehanna, 6 per eent., coupon bonds
$150,000
-dated 1st October, 1846, and payable, principal 1st October, 1866, and
coupons quarterly, 1st. January, April, July and October, at Baltimore.
Issued for rolling stock.
State of Maryland, 6 per cent. irredeemable loan
$1,500,000
-dated 27th April, 1855. Interest quarterly, 27th January, April, July
and October, at Baltimore. Issued in lieu of previous loans to the Bal-
timore and Susquehanna Railroad Company under the authority of chap.
260, laws of 1854.
75
Digitized by
Google
594
MARYLAND-NORTHERN CENTRAL.
York and Cumberland, 1st Mortgage, 6 per cent., coupon bonds
$175,000
-dated 3th May, 1850, and payable, principal 30th May, 1870, and coupons
semi-annually, 1st May and 1st November, at Baltimore. Issued for the
completion of the road.
York and Cumberland, 2d Mortgage, 6 per cent. coupon bonds
$25,000
-dated 7th January, 1851, and payable, principal 7th January, 1871, and
coupons semi-annually, 7th January and 7th July, at Baltimore. Issued to
contractors for completion of road, and convertible, at the pleasure of the
holders, into stock of the York and Cumberland Company at par.
York and Cumberland, 6 per cent. bonds
$500,000
-dated 1st January, 1853, and payable, principal 1st January, 1877, and
interest semi-annually, 1st January and 1st July, at Baltimore. Issued in
aid of the late Baltimore and Susquehanna Company and guaranteed by the
city of Baltimore.
Contract (Consolidation), 6 per cent. bonds
$292,300
-dated 15th January, 1855, and payable, principal 15th January, 1875, and
interest quarterly, 15th January, April, July and October, at Baltimore.
Whole loan $300,000. Issued for work done for the Susquehanna Railroad
Company prior to the 9th December, 1854.
Construction (Consolidation), 6 per cent. coupon bonds
$2,086,500
-dated 1st Jan., 1856, and payable, principal 1st July, 1885, and coupons
semi-annually, 1st Jan. and 1st July, at Baltimore. Whole sum $2,500,000.
Issued for construction of the road from Bridgeport to Sunbury and the
Canton Branch.
Debt to the City of Baltimore
$850,000
-subject to ordinance No. 57 of 1854, and which on completion of the road
will revert to the Company.
SINKING Funds-$277,640: described as follows-
For Loan of $150,000-
$20,000 North-Western Virginia Railroad 6 per cent. coupons bonds, guaranteed by
the city of Baltimore. Cost
$20,525
$23,500 City of Baltimore 6 per cent. stock. Cost
23,030- $43,555
For Loans of $150,000 (1352-'67,) and $2,500,000 (1856-'85,)-
4,335 shares company's stock, (as collateral,) at par
216,750
For Loan of $2,500,000 (1856-'85)-
$19,000 of the bonds of said loan. Cost and interest
17,335
The payment of the Sinking Fund for the $2,500,000 loan are required to
be one per cent., annually, of the amount outstanding.
FLOATING DEBT-$756,641 classified as follows-
Bills payable and loans
$629,155
I
State of Maryland
$22,500
Coupons
81,880
Other items
33,096
Cost OF ROAD AND EQUIPMENT-$8,244,636 in detail as follows-
Railroad-Baltimore and Bridgeport $3,779,977
Railroad-total.
$7,078,671
"
Bridgeport to Sunbury
2,981,341
Real estate
315,622
"
Canton division
317,353
Rolling Stock
850,343
REVENUE ACCOUNT FOR THE YEAR ENDING 31st DECEMBER, 1859.
Receipts-
Disbursements-
Passenger earnings
$252,096
Transportation expenses
$272,781
Freight
"
640,569
Repairs of road way
159,033
Mail
"
29,363
"
rolling stock
136,425
Miscellaneous receipts
1,301
General expenses
13,697-$582,336
Balance of earnings.
340,993
Total
$923,329
Total
$923,329
Digitized by Google
MARYLAND-NORTHERN CENTRAL
595
PROFIT AND Loss ACCOUNT FOR THE YEAR ENDING 31sT DECEMBER, 1859.
Dr.
Cr.
Interest on loans
$278,238
Balance at credit
$370,250
Wrightsville, York & Gettysburg Co.-
Revenue less expenses.
340,993
Dividend, $1 25 per share $7,926
Interest on $62,000 W., Y. & G. Co.'s
Sinking Fund appropriation. 7,926
bonds to 30th Sept, 1859. $3,720
Interest on S. F. investment. 2,280
Interest on $31,512 W., Y.&G.
Int. op uninvested appropria.
18
Co.'s debts to 30th Sept., 1859 1,418
Interest on bonds and debts
5,138-
33,388
Dividend on 3,173 shares W.,
Accidents, 1854
3,673
Y. & G. Co.'s stock, ($1 25
Interest and exchange
5,834
per share)
3,966-
9,104
Balance to credit
412,364
SS S
SSS
SSS
Total
$723,197
Total
$723,197
GENERAL LEDGER BALANCE SHEET, 1ST JANUARY, 1860.
Dr.
Cr.
Road and equipment
$8,244,636
Share capital
$2,260,000
Bonds of W., Y. & G. Co....
$52,000
Loans secured by mortgage
4,728,800
Debt of W., Y. & G. Co....
30,996
Debt to City of Baltimore
850,000
Stock of W., Y. & G. Co
125,765
Floating debt.
756,641
" of North. Central Co..
42,400
Balance of Profit and Loss
412 164
Bonds of Susquehanna and
Tide-Water Canal Co
537- 251,698
Sinking Funds
277,640
Materials on hand
67,580
Cash and cash items
166,051
Total
$9,007,605
Total
$9,007,605
The following comparative statement exhibits the amounts of the liabilities
of the Company as they existed at the date of the consolidation and at the
end of each subsequent financial year :
Date of
On 31st December,
Consolidation.
1855.
1856.
1857.
1858.
1859.
Liabilities-
Share capital
$2,260,000
$2,260,000
$2,260,000
$2,260,000
$2,260,000
$2,260,000
Mortgage debt
3,771,526
2,639,600
3,636,100
4,077,300
4,545,800
4,728,800
Debt to City of Baltimore.
850,000
850,000
850,000
850,000
850,000
850.000
Other liabilities
322,209
70,396
205,436
534,018
655,507
756,641
Profit and loss
161,588
254,553
281,036
370,250
412,164
Revenues-
Road-Balt. to Bridgeport. $5,361,268
$3,720,941
$3,721,191
$3,731,473
$3,744,183
$3,779,977
"
Bridgep't to Sunb'y
750,255
769,558
1,651,355
1,954,202
2.352,784
"
Susque'na bridge
31,062
31,062
65,647
215,971
244,115
}
2,981,341
"
Canton division
5,009
150,000
297,610
305,909
317,353
Construction (general)
27,161
108,715
236,466
Real estate
285,067
295,286
301,952
312,289
313,769
315,622
Rolling stock
406,000
450,511
544,640
618,280
733,934
850,343
Funds-Cash & cash items.
19,179
45,196
91,632
111,398
95,258
166,051
Investments
298,016
488,016
489,212
483,800
462,365
251,698
Sinking Funds
50,268
88,721
89,790
95,790
112,790
277,640
Materials on hand
62,619
87,284
83,509
72,825
69,964
67,580
Balance total
$7,263,735
$5,981,594
$7,206,089
$8,002,354
$8,681,557
$9,007,605
Cost, EARNINGS, EXPENSES, ETC., YEARLY.
(Including Earnings and Expenses of Leased Roads.)
Cost of
-Miles of Read-
Gross Earnings
Operat'g Earn'gs, Div.
Year.
Road,etc.
owned.
oper'ed.
Pass'r.
Freight.
Mails.
Total.
expenses.
less exp. p.e.
1855
5,272,367
92.50
132.50
245,601
424,575
17,850
688,026
405,844
282,182 nil.
1856
6,451,946
92.50
13250
243,855
528,148
17,850
789,853
477,862
301,991
"
1857
7,238,540
117.00
157.00
252,059
570,766
17,850
840,675
557,391
283.284
"
1858
7,941,180
138.00
218.00
212,912
575,004
27,457
815,373
422,822
392,551
"
1S59
8,244,636
142.00
218.00
252,096
646,768
30,663
929,527
589,012
340,515
"
Total
35,148,669
582.00
858.00
1,206,523
2,745,261
111,670
4,063,154
2,452,931
1,610,523
"
Aver.
7,029,734
116.40
171,60
241,305
549,052
22,334
812,691
490,586
322,105
"
Digitized by
Google
596
MARYLAND-WASHINGTON BRANCH.
WASHINGTON BRANCH RAILROAD.
(Financial year ending 30th September, 1859.)
MANAGED AND OPERATED BY THE BALTIMORE AND OHIO RAILROAD COMPANY.
LENGTH OF Road-Relay House (8 miles W. Baltimore) to Washington. 30 miles.
Second track, none. Sidings, turnouts, etc., 5.72 miles.
The Washington Branch Railroad Company was chartered by the Legislature
of Maryland on the 9th March, 1833. Construction was soon after com-
menced, and the road was opened for traffic from the Relay House to
Bladensburg, 24 miles, on the 20th July, and to Washington, 30 miles, on
the 25th August, 1835. It was constructed under the auspices of the Bal-
timore and Ohio Railroad Company, which owns $1,016,800 of its share
capital of $1,650,000 : the State of Maryland owns $550,000. By the terms
of the charter, the State receives one-fifth of the gross receipts from passen-
gers, in addition to the dividends received on the stock of the Company
owned by it. The revenue accruing to the State for the year 1859 from this
branch was $126,571, or about 23 per cent. on its investment. The right of
the State to a proportional part of the earnings on the Baltimore and Ohio
Railroad to the junction has been disputed, but the same has thus far been
paid by the Company.-(See Baltimore and Ohio Railroad.)
SHARE CAPITAL-Authorized, $2,000,000, in 40,000 $50 shares.
Paid in, - $1,650,000, in 33,000 $50 shares.
-of which $1,016,800 is held by the Baltimore and Ohio Railroad Company;
$550,000 by the State of Maryland, and the remainder by individuals.
FUNDED DEBT-$25,000 being the capital of a 5 per cent. annuity paid for
land at the junction of the Annapolis and Elkridge Railroad.
INCOME ACCOUNT FOR THE YEAR ENDING 30TH SEPTEMBER, 1850.
Receipts-
Disbursements-
Passenger earnings
$335,256
Road department
$22,382
Freight
"
106,963
Machinery "
61,692
[N. B.-Mails, express, etc., included in
Transportation depart
79,915
passenger earnings.]
General expenses.
9,494
Losses by accident.
196-$173,679
Balance to Profit and Loss
268,540
Total
$442,219
Total
$442,219
PROFIT AND Loss ACCOUNT FOR THE Year ENDING 30TH SEPTEMBER, 1859.
Dr
Cr.
Dividend, 9 per cent
$144.500
Balance from 1858
$143,400
State tax-Balt and Ohio, 1858 & 1859. 17,434
Balance of income, 1859
268,540
"
Washington Branch, 1859
68,470
Rolling power
10,601
Real estate
528
Ground rent
20
On account of Annuity
1,000
Balance to credit
165,387
Total
$441,940
Total
$411,940
GENERAL LEDGER BALANCE SHEET, 1ST OCTOBER, 1859.
Dr.
Cr.
Road
$1,650,000
Share capital
$1,650,000
Uncollected revenue.
18,108
Annuity (principal of)
25,000
Due by Baltimore and Ohio RR. Co
184.192
Due other roads for through tickets
19,869
Iron rails on hand
7,955
Profit and Loss
165,386
Total
$1,860,255
Total
$1,860,255
Digitized by Google
MARYLAND-WESTERN MARYLAND.
597
COST, EARNINGS, EXPENSES, ETC., YEARLY.
Cost of
Mile-
Gross
Operating
Net
Transit duty
Div.
Year.
Road, etc.
age.
Earnings.
expenses.*
Earnings.
paid State.
Amount.
p.e.
1839
$1,650,000
30.00
$207,289
$131,183
$76,106
$38,457
$66,000
7
1840
1,650,000
30.00
202,755
127,548
75,207
37,423
74,250
41
1841
1,650,000
30.00
231,700
125,511
106,189
43,340
99,000
6
1842
1,650,000
30.00
200,548
111,903
88,645
37,110
82,500
5
1843
1,650,000
30.00
175,325
104,634
70,694
32,065
74,250
41
1844
1,650,000
30.00
212,189
107,669
104,520
38,457
99,000
6
1845
1,650,000
30.00
208,814
113,719
95,095
33,565
99,000
6
1846
1,650,000
30.00
225,559
131,622
93,937
41,040
99,000
6
1847
1,650,000
30.00
218,418
128,811
89,607
38,649
49,500
3
1848
1,650,000
30.00
259,165
143,525
115,640
45,884
57,750
31
1849
1,650,000
30.00
274,832
161,191
113,641
52,017
99,000
6
1850
1,650,000
30.00
321,205
176,231
144,974
52,521
123,750
71
1851
1,650,000
30.00
309,535
196,792
112,743
50,111
66,000
4
1852
1,650,000
30.00
348,622
192,211
156,411
59,826
132,000
8
1853
1,650,000
30.00
385,060
274,351
110,709
70,426
165,000
10
1854
1,650,000
30.00
369,229
344,247
124,982
62,877
99,000
6
1855
1,650,000
30.00
402 635
263,254
139,381
67,972
107,250
61
1856
1,650,000
30.00
444,220
281,335
162,885
73,059
140,250
81
1857
1,650,000
30.00
454,459
272,118
182,341
76,038
148,500
9
1858
1,650,000
30.90
469,123
270,426
196,697
67,972
148,500
9
1859
1,650,000
30.00
442,209
250,750
191,459
77,071
148,500
9
22 yrs.
$36,300,000
660.00
$6,362,891
$3,909,031
$2,453,860
$1,095,880
$2,178,000
Average
1,650,000
30.00
289,222
177,683
111,539
49,812
99,000
WESTERN MARYLAND RAILROAD.
(Statement furnished by the Engineer, 30th June, 1860.)
BOARD OF DIRECTORS AND OFFICERS, 1859-60.
Augustus Schriver
Westminster, Md.
Reuben Haines
Union Town,
"
I
Samuel McKinstry, McKinstry's Mill, Md.
Nathan Engler
"
"
"
John Smith
Wakefield,
"
W. W. Dallas,
Union Town,
"
AUGUSTUS SCHRIVER, President
Westminster, Md.
J. HENRY HOPPE, Treasurer, and E. F. REESE, Secretary,
"
"
W. W. TAYLOR, Engineer
Baltimore, "
PRINCIPAL OFFICE
WESTMINSTER, Carroll Co., Md.
LENGTH OF RoAD-Projected Relay House (N.C.RR.) to Hagerstown
80 miles.
Completed: Relay House (N.C.RR.) to Finksburg Station 18 "
ROLLING STocK-Locomotives
2
Cars :-passenger, 2; baggage and mail, 1; freight, 4; other, 10
17
The Western Maryland Railroad Company was chartered at the January
Session of the Legislature of 1852. The construction of the road was com-
menced in July, 1857, and the line completed from the Relay House on the
Northern Central Railroad, 7 miles north of Baltimore, to Owings' Mills, 10
miles, in July, 1858; to Reisterstown, 15 miles, in the following September,
and to Finksburg, 18 miles, in June, 1860. The company is now asking the
city of Baltimore to endorse its bonds to the amount of $500,000, and should
this be acceded to, the road, it is stated, will be opened to Hagerstown in
about two years. The first section of the line is that formerly occupied by
the Westminster Branch Railroad, which was constructed under the charter
of the old Western Maryland Railroad by the Baltimore and Susquehanna
Company.
The operating expenses include the transit duty, which are also stated separately.
Digitized by
Google
598
MARYLAND-WESTERN MARYLAND.
SHARE CAPITAL-Authorized, $1,000,000, in 20,000 $50 shares.
Paid in, - $
on
"
FUNDED DEBT-$
: described as follows—
1st Mortgage, 6 per cent., coupon bonds
$
-dated 24th September, 1858, and payable, principal 1st January, 1890,
and coupons semi-annually, 1st January and 1st July, at the Company's
office, Westminster, Md. The amount to be issued under the mortgage is
$600,000.
Cost OF ROAD AND EQUIPMENT.-Not stated ; nor is any statement fur-
nished of the amount of stock or bonds issued.
WESTMINSTER BRANCH RAILROAD.
(See Baltimore and Susquehanna, and Northern Central Railroads.)
WILMINGTON AND SUSQUEHANNA RAILROAD.
(See Philadelphia, Wilmington and Baltimore Railroad.)
Digitized by Google
LAWS OF THE STATE IN REFERENCE TO RAILROADS.
List of all the Railroad Companies chartered in the State of Maryland,
with the dates of the Acts of their incorporation; and also the dates and
abstracts of all laws passed by the Legislature in reference thereto.
The asterisk [*] prefixed signifies that the work of construction has not been commenced.
Corporate Titles.
Date of Laws.
Abstract of Laws.
*ALLEGANY COAL MINE
29 Feb., 1832
Act of incorporation: cap. $100,000.
ANNAPOLIS & ELKRIDGE
21 Mar., 1837
Act of incorporation cap. $450,000.
:
"
1 Mar., 1842
May issue bonds, not exceeding $80,000.
"
"
5 April, 1839
Authorizing payment of State's subscription.
"BALTIMORE, CARROLL & FREDERICK
27 May, 1852
Act of incorporation cap. $500,000.
"
"
"
21 Mar., 1853
Name changed to Western Maryland.
*BALTIMORE & ELYSVILLE
10 Mar., 1854
Act of incorporation cap. $500,000
BALTIMORE & OHIO
28 Feb., 1827
Act of incorporation cap. $3,000,000
"
"
3 Mar., 1828
State authorized to subscribe $500,000.
"
"
9 Feb., 1831
State Treasurer authorized to issue stock.
"
"
22 Feb., 1S31
Washington Branch authorised.
"
"
10 Mar., 1832
Company released from certain obligations.
"
"
22 Mar., 1833
Relating to continuation of road, etc.
"
"
27 Feb., 1834
State authorized to issue 5 p. c. stock.
"
"
7 Mar., 1834
Act prohibiting riding or driving on road.
"
"
7 Mar., 1834
Authorised to change location, etc.
"
"
16 Feb., 1835
Empowered to close certain streets.
"
"
17 Mar., 1835
Supplement to act of 1833.
"
of
30 Jan., 1837
Act altering location.
"
"
13 Mar, 1837
Act relating to tolls.
"
"
18 Mar., 1838
Relating to subscriptions to lateral roads.
"
"
28 Mar., 1838
Act of 1832 suspended.
"
"
29 Mar., 1838
Authorized to receive subscription from Vir-
ginia in aid of road west of Cumberland.
"
"
13 Feb., 1845
Relating to reduction of fare between Balti-
more and Washington to $1,50.
"
"
6 Mar., 1846
Authorizes issue of bonds or certificates.
"
"
10 Mar., 1846
Relating to fares on Washington Branch.
"
"
7 Mar., 1850
Changes time for annual meeting.
"
"
29 May, 1852
Authorized to aid North-western RR.
"
"
29 May, 1852
Authorized to regulate tolls on Washington
Branch by paying one-fifth of passage
money into State Treasurer.
"
"
1 Mar, 1854
Act confirmatory of Baltimore $5,000,000 loan
*BALTIMORE & PEACH BOTTOM
22 Mar., 1836
Act of incorporation.
BALTIMORE & PHILADELPHIA
28 May, 1852
Act of incorporation: cap. $1,500,000.
"
"
29 Mar., 1853
Individual liability clause of charter repealed
"
"
10 Mar, 1854
Authorizes consolidation with the Philadel
phia and Baltimore Central Railroad Co.
BALTIMORE & PORT DEPOSIT
7 Mar., 1832
Act of incorporation.
"
"
30 Jan, 1834
Time extended, etc.
"
"
17 Jan., 1836
Releases company from obligation to construct
its road from Port Deposit, etc.
"
"
20 Jan., 1836
Authorises a union with the Wilmington and
Susquehanna Company.
*BALTIMORE & POTOMAC
6 May, 1850
An act of incorporation cap. $1,000,000.
"
.6
10 May, 1854
Amends act of incorporation.
"BALTIMORE, Rock RUN & PHILA
3 Mar., 1829
Several turnpike charters consolidated.
BALTIMORE & SUSQUEHANNA
13 Feb., 1828
Act of incorporation.
"
"
17 Feb., 1829
Time for completing work extended.
"
"
7 Feb., 1830
May construct a branch to Westminster.
599
Digitized by Google
600
MARYLAND-RAILROAD LAWS.
Corporate Titles.
Date of Laws.
Abstract of Laws.
"
"
6 Feb., 1830
State to subscribe for 2,000 shares
point a State director.
"
"
7 Mar., 1832
Supplement to act of 1829.
"
"
7 Mar., 1832
Act explanatory of act of 1831, ch. 2
"
"
9 Mar., 1832
Regarding railroad tracks in city of B
"
"
14 Mar., 1833
Authorized to borrow $350,000.
"
"
15 Mar., 1834
Extending certain powers to this .
heretofore granted to the Balt. &
"
"
18 Mar., 1835
Authorizing State to loan $1,000,000
"
"
6 Feb, 1836
Changes the million bonds to certific
"
"
22 Mar., 1836
Extends time for Westminster brane
"
"
15 Mar., 1836
"
"
Act against riding or driving on Co.'
22 Mar., 1836
Baltimore and Peach Bottom Railr
"
"
be united with Balt. and Susq. RF
2 June, 1836
Authorizes change of location.
"
"
20 Mar., 1837
Authorizes the company to borrow :
"
"
18 Mar., 1837
"
"
Mill-owners may connect with any r
25 Jan., 1838
Respecting juries of condemnation.
"
"
29 Mar., 1838
Loans company the proceeds of
3 per cent. stock.
"
"
29 Mar., 1838
Must repair injuries done by fire from
"
"
20 Mar., 1839
"
"
Must repair injuries by cars and eng
4 April, 1839
Act to prevent the transportation (
of color on railroads or in steambo
"
"
5 April, 1839
Loans company $700,000.
is
"
10 Mar., 1840
"
"
Act to protect the lives of passenger
10 Mar., 1840
Changes rate of interest on the $750
from 5 to 6 per cent.
"
"
23 Feb, 1841
Extends time for Westminster branc
"
"
9 Mar., 1842
Supplement to loan acts of 1838 and
"
"
10 Mar., 1842
Relating to tolls on lime, wood, coal,
"
"
10 Mar., 1843
Act to sell State's interest in road.
"
"
10 Mar., 1845
Resolution requiring State directors
tigate the company's affairs.
"
"
5 Mar., 1845
Resolution appointing State director
"
"
18 Feb., 1846
Authorizes a loan of $150,000.
"
"
10 Mar., 1846
Supplement to Westminster branch :
"
"
9 Feb., 1846
Resolution appointing State director
"
"
2 Mar., 1847
Resolution appointing State director
"
"
10 Mar., 1847
Resolution appointing State Agents
sent the State and to vote the stoc
"
"
10 Mar., 1847
Supplement to act of 20th March, 18
"
"
23 Feb., 1848
Regarding the loans of the company
"
"
29 Feb., 1848
Resolution appointing State director
"
"
7 Mar., 1850
Renews act of 1845, chap. 93.
"
"
7 Mar., 1850
Supplement to charter to make a
contract with York and Cumb. RR
"
"
9 Mar., 1850
Changes southern terminus of road.
"
"
1 Mar., 1850
Resolution appointing State director
"
"
14 May, 1852
Authorizes the city of Baltimore to
Susquehanna Railroad.
"
"
25 May, 1852
Compensates the families of persons
"
"
10 May, 1853
Relating to extension of road to tide
"
"
24 May, 1853
Relating to the construction of cross
"
"
10 Mar., 1854
May consolidate with York and 1
line, York and Cumberland, and
hanna companies into the Northern
"
"
10 Mar., 1854
Provides for the sale of the State's in
B. and Susq. Co., and for the com]
the Northern Central Railroad.
BALTIMORE & WASHINGTON
28 Feb., 1829
Act of incorporation cap. $300,000.
"
"
14 Mar., 1832
Act defining certain powers.
"
"
9 Mar., 1853
State Treasurer authorized to /
$500,000 at 41 per cent.-one-fifth
from passengers to accrue to State
"
"
6 Feb., 1834
State to issue 5 per cent. instead o
per cent. stock.
44
"
15 Mar., 1834
Enlarging powers of company.
Digitized by Google
MARYLAND--RAILROAD LAWS.
601
Corporate Titles.
Date of Laws.
Abstract of Laws.
"BALTIMORE & WESTMINSTER
13 Mar., 1829
Act of incorporation cap. $500,000.
*CAROLINE COUNTY
10 Mar., 1858
Act authorizing construction of a railroad, etc
*CAMBRIDGE & BLACKWATER
1 Mar., 1848
Act of incorporation cap. $20,000.
*CECIL COUNTY
7 Mar, 1832
Act of incorporation cap $250,000.
"
"
6 Mar., 1850
Act of incorporation cap $150,000.
"CHESAPEAKE & DELAWARE
9 Mar., 1850
Act of incorporation cap. $1,000,000.
"
"
29 May, 1852
Charter revived.
"CHESAPEAKE MARINE
10 Mar., 1846
Act of incorporation cap. $20,000.
*CHOPTANK & DELAWARE
10 Mar, 1848
Act of incorporation emp. $11,000
"
"
28 May, 1850
Charter revived for five years.
*COLUMBIA & PORT DEPOSIT
20 Feb., 1858
Act of incorporation cap. $600,000.
CUMBERLAND & PENNSYLVANIA
13 Mar., 1850
Act of incorporation cap $1,000,000.
"
"
8 April, 1853
Amendment to act of incorporation.
*CURTIS CREEK
9 Mar., 1854
Act of incorporation.
DELAWARE & MARYLAND
14 Mar., 1832
Act of incorporation cap $3,000,000.
"
"
21 Mar., 1833
Authorized to unite with Paitimore and Port
Deposit Railroad Company.
"
"
9 Mar., 1835
Supplement to net of incorporation.
"
"
14 Mar., 1836
Authorized to unite with Wilmington and
Susquehnnna Railroad Company.
"
"
23 Feb., 1837
Act explanatory of former acts.
*EASTERN SHORE
1829
Act of incorporation.
"
"
21 Mar., 1838
State Treasurer authorized to loan $1,000,000
EASTERN SHORE
23 Mar., 1853
Act of incorporation.
"ELKTON & SASSAFRAS
Act of incorporation.
"
"
4 Mar., 1858
May construct branches
FRANKLIN
16 Jan., 1837
May extend road into Maryland.
"
7 April, 1839
Authorises Hagerstown to subscribe $20,000
"
20 April, 1853
Provides for sale of road.
*HOWARD
16 May, 1853
Act of incorporation cap. $1,000,000.
*MARYLAND CENTRAL
24 May, 1853
Act of incorporation cap. $2,000,000.
METROPOLITAN
5 May, 1853
Act of incorporation cap. $2,000,000.
*MILLINGTON & SMYRNA
17 Feb., 1832
Act of incorporation cap. $125,000.
NEWCASTLE & FRENCHTOWN
1829
Act of incorporation.
"
"
9 Feb., 1830
Time for commencement extended.
"
"
28 Feb., 1850
Authorizes change of location.
"NORTH BRANCH
23 Mar., 1853
Act of incorporation cap. $1,000,000.
NORTHERN CENTRAL
10 Mar., 1854
Act of consolidation. (See Balt. and Susq.
"
"
10 Mar., 1854
Provides for the completion of the road.
"
"
3 Mar.. 1858
Act relinquishing Green Spring branch.
NORTH-WESTERN VIRGINIA
21 April, 1852
Baltimore may loan company $1,500,000.
Philadelphia, WILMINGTON &
BALTIMORE
}
20 Jan, 1838
Act of consolidation.
"
"
14 April, 1853
May construct a bridge over the Susquehanna
and a branch to Port Deposit.
*PITTSBURG & CONNELLVILLE
8 April. 1853
Act of incorporation.
"
"
25 May, 1853
Baltimore may loan $1,000,000.
*SAM'S CREEK
14 Mar., 1832
Act of incorporation.
"
13 April, 1853
Charter amended and extended.
*SAVAGE
14 Mar., 1835
Act of incorporation cap. $30,000.
*SOMERSET & WORCESTER
20 Mar., 1838
Act of incorporation cap. $100,000.
*Towsontown
9 Mar., 1858
Act of incorporation cap. $50,000.
*WASHINGTON COUNTY
30 May, 1853
Act of incorporation cap. $1,000,000.
"
"
9 Mar., 1854
Capital increased to $3,000,000.
WESTERN MARYLAND
21 Mar., 1853
Name changed from Baltimore Carroll and
Frederick, and charter altered.
"
"
30 May, 1853
Authorised to issue $1,000,000 in bonds, at 6
per cent., and extend road to Hagerstown.
"
"
3 Mar., 1858
Extends lat mort. bonds from 1870 to 1890.
"
"
6 Mar., 1858
Relating to powers of Juries on damages.
*WESTERNPORT & POTOMAC
16 May, 1853
Act of incorporation.
*WICOMICO & PocoMoKe
15 Feb, 1848
Act of incorporation cap. $100,000.
"
"
8 Mar., 1854
Charter revived and extended.
WILMINGTON & SUSQUEHANNA
14 Mar., 1836
Act of eonsolidation.
"
"
20 Jan., 1838
Authorised to consolidate into the Philadel-
phia, Wilmington and Baltimore Company.
*WORCESTER
24 May, 1854
Act of incorporation cap. $500,000.
*YOUGHIOGENY VALLEY
5 May, 1853
Act of incorporation cap. $1,000,000.
76
Digitized by Google
CANALS OF THE STATE IN DETAIL.
CHESAPEAKE AND DELAWARE CANAL.
(See Chesapeake and Delaware Canal of Delaware.)
CHESAPEAKE AND OHIO CANAL.
(Financial year ending 31st December, 1859.)
OFFICERS OF THE COMPANY, 1860-61.
JAMES FITZPATRICK, President
Washington, D. C.
A. K. STAKE, General Superintendent
"
"
EDWARD WATTS, Engineer
"
"
W. S. RINGGOLD, Clerk
"
"
PRINCIPAL OFFICE
WASHINGTON CITY, District of Columbia.
LENGTH OF CANAL-Georgetown to Cumberland
184.5 miles.
Width at top
ft. 50
Lift locks
74
Dams
7
"
at bottom
ft. 38
Total lift
ft. 606
Culverts
182
Depth
ft. 6
Dimensions
ft. 100 by 15
Aqueducts
11
The Chesapeake and Ohio Canal Company was chartered by the State of Vir-
ginia on the 27th January, 1824, and subsequently by the States of Maryland
and Pennsylvania, and by the national Congress. Its object was to render
more perfect the communication between the sea-board and the interior.
For this purpose a company had already been formed, and the object par-
tially obtained by means of locks and dams in the Potomac river. A quarter
of a century of experience however, had convinced the public mind that the
works constructed were at least inadequate for the attainment of the great
object contemplated. The most that the Potomac company had attained or
could attain, was one foot of permanent water in the upper course, and four
feet of water in the lower portion of the stream. It was now proposed to
construct a canal from the Potomac river at Georgetown to Cumberland,
and thence to the Ohio river at Pittsburg.
The required amount of capital having been subscribed, the company
was organized in June, 1828, and the proposition for merging the Potomac
Company's works into the new enterprize having been accepted by the
shareholders at a meeting held on the 10th July following, that corporation
ceased to exist. A provisional deed of cession had been signed on the 16th
May, 1825. The amount of stock taken up was 36,089 shares, at $100 each,
of which the general government subscribed 10,000, the cities of the Dis-
trict of Columbia 15,000, the State of Maryland 5,000, and the State of
Virginia 777 shares-the remainder having been subscribed by individuals.
The estimate of the expense of constructing a canal from Georgetown to
Cumberland, forty feet at the top, twenty-eight feet at the bottom, and four
feet deep, was $4,400,000. Before the commencement of actual operations
however, and at the instance of the United States, these dimensions were
increased to six feet in depth and between fifty and sixty feet in width.
Maryland claimed the privileges of constructing a lateral canal from the
termination of the main line through the District to Baltimore, which in the
final agreement was conceded.
602
Digitized by Google
MARYLAND-CHESAPEAKE AND OHIO CANAL.
603
The construction of the canal was commenced on the 4th July, 1828.
From this period the company operated the Potomac works, disposing of
the revenue, as prescribed in the charter and amendments thereto, in the
liquidation of the debts of the extinct association. In 1829 that section of
the new canal from Seneca down to Georgetown, 224 miles, was completed,
and opened to traffic; in 1832 the section between Seneca and Point of
Rocks, 30 miles, and in 1833 the section between Point of Rocks and Har-
per's Ferry, 12 miles. By the time that the canal had been finished to Har-
per's Ferry the means which had been provided at its commencement were
exhausted. But the General Government had adopted an entirely new policy
in regard to internal improvements, and the State of Virginia declined to
furnish any addition to the scanty aid which it had already afforded. It now
indeed became evident that the whole burden of the completion of the work
would devolve upon Maryland, if determined to carry it through to a point
which it must reach before it would be available as a means of developing
the resources of the coal and iron region. The difficulty of the case was
met by an issue of 6 per cent. bonds to the amount of $2,000,000, the tolls
of the works being pledged for the payment of the interest. Still the means
were found to be inadequate; and again the Legislature of the State was
appealed to for aid. A bill was passed at the extra session of 1836, author-
izing the issue of $3,000,000 in 7 per cent. bonds. This act required that
the bonds should be sold at a premium of 20 per cent., the premium to be
invested in a sinking fund for the redemption of the principal. No sales,
however, could be effected at this rate, and the bonds were subsequently
exchanged by the State for $3,200,000 in 5 per cent. sterling bonds. In 1838
the legislature authorized a further subscripton to the cupital of the com-
pany of $1,375,000 in the same character of bonds. The proceeds of these
issues were exhausted without completing the work further than Hancock,
1341 miles from Georgetown, and the legislature refused additional subscrip-
tions, its interest in the canal having already attained a vast sum.
The following exhibits a statement of the debt of Maryland, contracted on
account of this work, and which is now outstanding
Authorized by
Pay-
Authorized by
Pay-
Laws of
Amount.
Rate.
able.
Laws of
Amount.
Rate.
able.
1827
Chap. 105
$262,500
5pc.
1842
1834
Chap. 241
$2,000,000
6 p.c.
1871
1830
Chap. 46
237,500
5 p.c.
1842
1838
Chap. 386
3,200,000
5 p.c.
1890
1833
Chap. 239
125,000
5 p.c.
1849
1838
Chap. 396
1,375,000
5 p.c.
1890
-making
a
total
of
$7,200,000.
Including
these
bonds,
the
whole
issue
of
the
State on account of public works amounted in 1839 to $16,050,000. In 1840
this company, as well as several others which had received State aid, an-
nounced their inability to pay the interest on their liabilities, and then com-
menced the direct liability of the State, which in its turn found itself unable
to meet the unusual demand, and such was the embarrassed condition of the
public treasury that payments could not be resumed before 1848.
In the meantime the work on the canal west of Cumberland had been sus-
pended. In 1844, however, the Legislature of Maryland passed an act
authorizing the company to borrow or raise on bonds, with preferred liens
on the revenue, a sum not exceeding $1,700,000, and the next year opera-
tions were re-commenced. With the avails of this loan, and other credits,
the canal was carried to completion, and the first boats were passed to Cum-
berland in October, 1850.
The Alexandria Canal, continuous of the Chesapeake and Ohio Canal into
Virginia, belongs to an independent company. (See Alexandria Canal of Va.)
Digitized by
Google
604
MARYLAND-CHESAPEAKE AND OHIO CANAL.
INCOME ACCOUNT FOR THE YEAR ENDING 31sT DECEMBER, 1859.
Receipts.
Disbursements.
Tulls accrued
$189,134
Improvements
$67,016
Water rents collected
4,169
Repairs-ordinary
53,856
"
"
bonus on new leases
4,500
"
extraordinary
13,096
Rents of houses and lands
525
Pay of Superintendents, etc.
14,429
Pay of officers
9,691
Interest paid
12,248
Contingent expenses
1,716
Balance of receipts
26,275
Total
$198,328
Total
$198,328
1
TOLLS EARNED YEARLY FOR THE THIRTY YEARS ENDING 31sT DECEMBER, 1859.
Year.
Mileage.
Tolls.
Year.
Mileage.
Tolls.
Years.
Mileage.
Tolls.
1830
22.7
$2,044
1840
134.6
$43,808
1850
134.6
$64,442
1831
22.7
32,993
1841
134.6
57,012
1851
184.5
110,504
1832
53.0
24,976
1842
134.6
56,005
1852
1845
92,249
1833
65.0
16,663
1843
134.6
44,540
1853
184.5
145,100
1834
65.0
20,132
1844
134.6
50,692
1854
184.5
119,306
1835
65.0
26,568
1845
134.6
51,811
1855
184.5
138,675
1836
65.0
28,769
1846
134 6
52,829
1856
184.5
153,051
1837
107.4
26,702
1847
134.6
52,572
1857
184.5
94,802
1838
107.4
34,959
1848
134.6
54,146
1858
184.5
171,085
1839
107.4
47,866
1849
134.6
61,927
1859
184.5
189,134
STATEMENT OF EARNINGS AND EXPENSES FROM ORGANIZATION TO DEC. 31, 1859.
Earnings.
Expenses.
Earnings of Potomac navig. 1828-30
$33,424
Repairs-ordinary
$1,049,686
Tolls of C. & O. Canal, 1830-39
261,672
"
extraordinary
529,714
" of "
"
1840-49
525,332
Pay of officers
254,142
"
of
"
"
1850-59
1,278,348
Pay of Superintendents, etc.
429,549
Water-rents, from organization
74,982
Contingent expenses
56,012
Rents of houses and lands
22,663
Incidental damages
32,008
Fines and penalties
659
Balances due to Superintendents, etc.
5,032
Deficiency
249,053
Total
$2,356,143
Total
$2,356,143
PRINCIPAL ARTICLES TRANSPORTED ON THE CANAL-1858 AND 1859.
Ascending.
1858.
1859.
Descending.
1858.
1859.
Fish
tons,
217
248
Flour
tons, 11,007
12,106
Groceries
"
178
220
Wheat
"
4,402
5,531
Salt
"
1,945
1,556
Corn
"
6,275
4,931
Lumber
"
S84
947
Mill office
"
549
391
Plaster
"
2,813
2,735
Lumber
"
2.669
2,810
All other articles
"
23,359
2,924
Iron
"
933
967
Coal
"
254,684
300,743
All other articles
"
43,673
23,607
Total ascending
"
29,396
8,680
Total descending
"
324,192
351,086
STATEMENT OF TONNAGE MOVEMENT SINCE COMPLETION TO CUMBERLAND.
Ascending
Descending.
Total
Tons carried
Coal
Iron
Year.
Thro'.
Local
Total.
Through.
Local.
Total.
tonnage.
one
mile.
Tonnage.
Tonn.
1851
1,722
21,229
22,951
78,041
102,901
180,942
203,893
20,801,465
82,690
910
1852
1,101
15,125
16,226
59,561
91,808
151,369
167,595
17,187,195
63,589
1,656
1853
1,266
20,229
21,495
146,491
102,719
249,210
270,705
34,608,095
151,959
2,418
1854
722
18,002
18,724
139,649
77,550
217,199
235,923
31,163,425
145,319
201
1855
1,192
23,647
24,839
172,198
86,215
258,413
283,252
36,297,318
188,029
2,505
1856
927
14,101
18,028
199,196
88,040
287,236
302,264
39,822,702
205,568
2,541
1857
477
20,675
21,152
118,980
56,393
175,373
196,525
26,046,605
123,526
1,212
1858
549
28,847
29,396
250,074
74,118
324,192
353,588
51,154,390
254,684
933
1859
693
7,937
8,630
297,125
53,961
351,086
359,716
58,806,560
300,743
967
9 years8,649
169 792
178,441
1,461,315
733,705
2,195,020
2,373,461
315,887,755
1,516,107
13,343
Av'ge,
961
18,866
19,827
162,368
81,523
243,891
263,718
35,098,639
168,463
1,482
Digitized by
Google
MARYLAND-CHESAPEAKE AND OHIO CANAL.
605
GENERAL STATEMENT FROM ORGANIZATION TO 31sT May, 1860.
Dr.
Cr.
Construction of Canal
$10,506,309.27
Capital stock
$8,226,594.67
Repairs, ordinary
1,049,686.50
State of Maryland loan
2,000,000.00
"
extraordinary
229,713.46
Interest on same to Dec. 31. 1859
2,455,000.00
"
general, under Virginia
Interest paid in London on $4,375,-
act
200,000.00
000 bonds
663,611.94
Lands
422,668 33
Guaranteed dividends payable out
Pay of officers
254,141.69
of the net profits
4,593,750.00
Pay of Superintendents, Collectors
Premium for converting paper
9,975.00
and Lock-keepers
429,548 99
Post notes bearing interest
372,769 00
Pay of engineer department
446,456 66
Acceptances to creditors
129,137 33
Contingent expenses
56,012.74
Bonds issued in paym't of post notes
5,728.00
Law expenses
40,231.68
"
"
"
to creditors
170,381 29
Incidental damages
32,007.63
"
" to creditors Potomac Co.
56,896.48
Printing and stationery
24,133.44
interest to 31st Dec., '45
19,150.55
Postages
3,633.46
"
" for completion of Canal
1,699,500.00
Expenses of Maryland loans
10,594.00
"
" for repairs guaranteed
Western section
9,482.21
by Virginia
200,000.00
Interest account and guaranteed
"
" for repairs and loans
144,080.00
dividends
8,905,321 01
"
" for coupons paid
140,000.00
Profit and loss
817,745.49
Certificates for repairs, &c., to 1845
45,727.14
Potomac Company
32,706 20
Certificates for coupons funded
142,545.00
Swan, Gittings & Gunton
56,192 62
Interest accrued to 1st Oct., 1853
4,295,44
Maryland 5 per cent. sterling
Certificates for registered debt
186,424.28
bonds
2,111.12
interest accrued to 31st
Selden, Withers & Co., coupon
Dec., 1854
133,345.18
account
140,000.00
Certificates to creditors of Hunter,
Balance due on land sales
5,757.00
Harris & Co
91,048.99
"
for rents
2,288 26
"
for tolls
116,118.06
"
from agents
2,743.99
Chesapeake Bank of ;Baltimore
4,113.38
"
in Banks
5,393.37
Sundry balances
177,608.24
Tolls
2,098,776.46
Water rents
74,982.33
Rents of houses and lands
22,662.64
Fines and penalties
659.00
$23,984,880.12
$23,984.680.12
STATEMENT showing the Cost of the Canal, Mileage operated, Earnings, Ex-
penses, etc., since completion to 31st December, 1859.
Cost
Miles
Gross Earnings
Ordinary Earn'gs gs in Exp's in
of
of
Tolls on
Water
Other
Total
expenses excess of excess of
Year.
canal.
canal.
freights.
rents.
sources.
earnings.
for year. expenses. earnings.
1851
10,113,938
184.5
110,504
3,440
894
114,838
106,152
8,686
1852
20,119,759
184.5
92,249
4,034
1,444
97,727
186,218
88,491
1853
10,127,379
184.5
145,100
4,215
776
150,091
108,083
42,008
1854
10,160,465
184.5
119.306
3,875
927
124,108
120,946
3,242
1855
10,201,762
1845
138,675
3,927
946
143,548
131,897
11.651
1856
10,234,235
184.5
153,051
4,200
982
158,233
108,524
49,709
1857
10,277,327
184.5
94,802
3,754
1,034
99,590
212,511
112,921
1858
10,434,821
184.5
171,085
3,571
1,411
176,067
180.533
4,466
1859
10,506,309
184.5
189,134
8,669
525
198,328
172,053
26,275
9 yrs., 92,175,594
1660 5
1,213,906
39,685
8,939
1,262,530
1,326,917
141,491
205,898
Av'ge, 10,241,733
184.5
134,878
4,409
993
140,281
147,435
15,721
22,875
SUSQUEHANNA AND TIDE-WATER CANAL.
(See Susquehanna and Tide- Water Canal of Pennsylvania.)
Digitized by
Google
606
MARYLAND-POTOMAC NAVIGATION.
POTOMAC NAVIGATION.
The Potomac Company was chartered by the States of Virginia and Mary"
land in 1784. The object of the company was to render the river navigable,
and connect its head by an overland road with the western rivers. By the
subsequent efforts made to this end an essential amelioration in the naviga-
tion was effected, particularly at Little Falls and Great Falls; but these im-
provements being found inadequate to the exigencies of the growing com-
merce of the country, were superseded by the Chesapeake and Ohio Canal,
for the construction of which a company was chartered in 1824, and
which all the rights, interests and privileges of the Potomac Company
were provisionally ceded by a deed of surrender dated 16th May,
1825; and by a vote of the stockholders taken on the 10th July, 1828,
the transfer was consummated. From this date to the 31st December,
1830, the works were operated by the new company, and then abandoned,
the first section of the canal having already been brought inte use. The
only dividend made by the company during its existence was declared on the
2d August, 1802, and amounted to $3,890.
GENERAL STATEMENT, 1ST JULY, 1828.
Dr.
Cr.
Amount expended in the work, in re-
Capital-State subscription $55,994
pairs, in salaries and expenses, and
" -Individual "
299,117
in interest actually paid
$749,782
Dividend declared 2d August, 1802
3,890
$355,111
Balance of earnings unaccounted for
101,936
Loss on sale of U. S.
stock taken at par
from Maryland
$5,551
Balance unpaid on 30
forfeited shares
12,077
Balance unpaid by
stockholders
932-18,560-336,551
Debts due-Principal
$140,301
"
-Interest
61,097-201,398
Total collected 1799 to 1830
327,659
Total
$865,608
Total
$865,608
OPERATIONS OF THE COMPANY FROM 1ST AUGUST, 1799, TO 31st DEC., 1830.
Ys. end'g
No. of
Tonnage of
Value of
Tolls
Ys. end'g
No. of
Tonnage of
Value of
Tolls
31 Aug.
Boats.
Freight.
Freight.
collected.
31 Aug,
Boats.
Freight.
Freight.
collected.
1800
296
1,643
$129,414
$2,138
1816
550
6,132
357,661
9,501
1801
413
2,993
328.445
4,210
1817
856
8,197
787,994
13,948
1802
305
1,952
163,916
3,479
1818
746
9,778
681,925
10,332
1803 493
5549
345,473
9,354
1819
775
7,550
565,011
12,514
1804
426
3,823
284,041
7,766
1820
917
16,506
420,818
13,107
1805 405
3,208
340,334
5,213
1821
760
11,400
318,810
12,491
1806 203
1,226
87,790
2,124
1822
782
11,730
369,523
11,104
1807
573
8,155
551,896
15,080
1823
12,918
1808 508
5,994
337.008
9,924
1824
10,211
1809 603
6,767
305,628
9,095
1825
1810
568
5,374
318,238
1826
No returns.
11,109
7,916
11,631
1811
1,300
16,350
925,075
22,543
1827
10,821
1812
613
9,214
515,536
11,471
1828
15,618
1813
623
7,916
423,340
11,816
1829
1814
596
5,987
312,094
9,110
1830
+33,424
1815
618
6,354
489,498
9,789
Total in 31 years and 5 months
$327,659
# Ten months. t Tolls from 1st July, 1828, to 31st December, 1830.
Digitized by Google
GENERAL INDEX TO FIRST VOLUME.
Page.
Page.
Agricultural Branch, Mass.
94 Boston, Concord and Montreal, N. H.
42
Albany Northern, N. Y.
234 Boston and Lowell, Mass
97
Albany and Schenectady, N. Y
230 Boston and Maine, Me
36
Albany and Susquehanna, N. Y
232 Boston and Maine, Mass.
99
Albany and Vermont, N Y
234 Boston and Maine, N. H
42
Albany, Vermont and Canada, N. Y
234 Boston and New York Central, Mass.
96
Albany and West Stockbridge, N. Y
229 Boston and New York Central, Ct.
195
Alleghany Portage, Pa.
558 Boston and Providence, Mass.
102
Alleghany Valley, Pa.
424 Boston and Worcester, Mass.
104
Allentown, Pa.
426 Broadway (Boston), Mass.
167
Amherst, Belchertown and Palmer, Mass
95 Broadway (Brooklyn), N. Y
239
Androscoggin, Me
13 Brooklyn Central, N. Y
240
Androscoggin and Kennebec, Me
15 Brooklyn City, N. Y
240
Annapolis and Elkridge, Md.
576 Brooklyn and Jamaica, N. Y
241
Ashuelot, N. H.
41 Buckfield Branch, Me.
21
Atlantic and Great Western, N. Y.
235 Buffalo and Allegany Valley, N. Y
242
Atlantic and Great Western, Pa.
427 Buffalo and Black Rock, N Y
242
Atlantic and St. Lawrence, Me.
17 Buffalo, Bradford and Pittsburg, N. Y
243
Atlantic and St. Lawrence, N. H
42 Buffalo, Bradford and Pittsburg, Pa
428
Atlantic and St. Lawrence, Vt.
72 Buffalo and Conhocton Valley, N. Y
243
Attica and Alleghany Valley, N. Y
236 Buffalo, Corning and New York, N. Y
244
Attica and Buffalo, N. Y
231 Buffalo and Lake Huron, N. Y
245
Auburn and Rochester, N. Y.
231 Buffalo and Lockport, N. Y.
245
Auburn and Syracuse, N. Y
231 Buffalo and New York City, N. Y
245
Avon, Geneseo and Mount Morris, N. Y
233
Buffalo, New York and Erie, N. Y
246
Buffalo and Niagara Falls, N. Y
248
Baldwinsville Canal, N. Y
371 Buffalo and Pittsburg, N. Y.
248
Baltimore City Passenger, Md.
577 Buffalo and Rochester, N. Y
248
Baltimore and Ohio, Md
578 Buffalo and State Line, N. Y
249
Baltimore and Philadelphia, Md.
585 Burlington and Mount Holly, N. J
383
Baltimore and Port Deposit, Md.
585
Baltimore and Potomac, Md.
565 Calais and Baring, Me.
21
Baltimore and Susquehanna, Md.
586 Cambridge (Boston City). Mass.
168
Bangor, Oldtown and Milford, Me
19 Camden and Amboy, N. J.
385
Barclay Coal, Pa
426 Camden and Atlantic, N. J
384
Beaver Division of Canal, Pa.
555 Canajoharie and Catskill, N. Y
251
Beaver Meadow, Pa.
427 Canals of Delaware
569
Bellefonte and Snow-Shoe, Pa
428 Canals of Maryland
602
Belvidere Delaware, N. J
382 Canals of New Jersey
411
Berkshire, Mass
96 Canals of New York
353
Black River Canal, N. Y
368 Canals of Pennsylvania
536
Black River Improvement, N. Y
368 Canandaigua and Elmira, N. Y
252
Black River and Utica, N. Y
236 Cape Cod, Mass
110
Blossburg and Corning, N. Y
237 Catasauqua and Foglesville, Pa.
428
Boston City Passenger, Mass
167 Catawissa, Williamsport and Erie, Pa.
429
Boston and Chelsea (City), Mass
167 Cayuga Inlet, N. Y
372
607
Digitized by
Google
608
GENERAL INDEX TO FIRST VOLUME.
Page.
Page.
Cayuga and Seneca Canal, N. Y.
375 Delaware and Raritan Canal, N. J
385
Cayuga and Susquehanna, N. Y
251 Dorchester (Boston City), Mass.
168
Central, N. J.
389 Dorchester Extension, Mass.
169
Charles River, Mass.
110 Dorchester and Milton Branch, Mass.
113
Charles River Branch, Mass.
110
Charlestown, Mass
107 Eastern, Mass.
114
Chambersburg and Hagerstown, Md.
428 Eastern, N. H.
53
Chambersburg and Hagerstown, Pa.
428 Eastern Shore, Md.
590
Champlain Canal, N. Y.
365 Eastern Division Canal, Pa.
558
Chartiers Valley, Pa.
428 East Mahonoy, Pa.
440
Chemung, N. Y.
253 Easton Branch, Mass.
117
Chemung Canal, N. Y
374 East Pennsylvania, Pa.
439
Chenango Canal, N. Y
369 East Thompson, Ct.
196
Chesapeake and Delaware Canal, Del.
569 Eighth Avenue (N. Y. City), N. Y
267
Chesapeake and Delaware Canal, Md.
602 Elizabeth and Somerville, N. J.
391
Chesapeake and Ohio Canal, Md.
602 Elmira, Jefferson and Canandagua, N. Y
254
Cheshire, Mass
112 Erie Canal, N. Y
365
Cheshire, N. H
51 Erie Canal, Pa.
555
Chester Valley, Pa.
431 Erie Extension Canal, Pa.
555
Chesnut Hill, Pa.
431 Erie and New York City, N. Y.
255
Citizens' (Phila.) Pa.
478 Erie and North-East, Pa
439
Cleveland, Painesville and Ashtabula, Pa.
432 Erie and Pittsburg, Pa.
441
Cleveland and Pittsburg, Pa.
433 Essex, Mass.
118
Cochecho, N. H.
50 European and North American, Me
23
Columbia, Pa
558 & 560
Concord, N. H.
45 Fairhaven Branch, Mass
119
Concord and Claremont, N. H.
47 Fairmount (Phila.) Pa
478
Concord and Portsmouth, N. H.
47 Fairmount and Arch street (Phila.)
478
Conneaut Line Canal, Pa.
555 Fall River, Mass.
121
CONNECTICUT, Laws of
215 Farmington Valley, Ct.
196
CONNECTICUT, Railroads of
192 Fayette County, Pa.
441
Connecticut River, Mass.
107 Fitchburg, Mass
121
Connecticut and Passumpsic Rivers, Vt.
72 Fitchburg and Worcester, Mass
124
Contoocook River, N. H.
49 Flemington, N. J.
392
Corning and Bloseburg, N. Y.
253 Flushing, N. Y
254
Corning and Olean, N. Y
253 Frankford and Southwark (Phila.) Pa.
478
Crooked Lake Canal, N. Y
373 Franklin, Mo.
23
Cumberland Coal and Iron, Md.
589 Franklin, Md.
442
Cumberland and Pennsylvania, Md.
588 Franklin, Pa.
442
Cumberland Valley, Pa.
433 Freehold & Jamesburg Agricultural, N. J. 393
French Creek Division Canal, Pa.
555
Danbury and Norwalk, Ct.
195 French Creek Feeder, Pa.
555
Danvers, Mass.
112
Danvers and Georgetown, Mass.
113 Genesee Valley, N. Y
256
Delaware, Del.
564 Genesee Valley Canal, N. Y
375
DELAWARE, Canals of
569 Genesee Valley Extension Canal, N. Y
375
DELAWARE, Laws of
568 George's Creek, Md.
591
DELAWARE, Railroads of
562 Germantown, Fourth and Eighth streets, Pa. 478
Delaware and Cobb's Gap, Pa.
435 Gettysburg, Pa.
443
Delaware County, Pa.
478 Girard College (Phila.) Pa.
478
Delaware Division Canal, Pa.
544 Grand Junction, Mass
125
Delaware and Hudson Canal, N. Y
353 Great Falls and Conway, N. H.
53
Delaware, Lackawanna & Western, Pa.
435 Great Falls and South Berwick, Me.
23
Delaware and Maryland, Md.
591 Greenfield and North Adams, Mass
125
Digitized by
Google
GENERAL INDEX TO FIRST VOLUME.
609
Page.
Page.
Green and Coates street (Phila.) Pa.
478 Littlestown, Pa.
457
Long Island, N. Y
264
Hampshire and Hampden, Mass
126 Lorberry Creek, Pa
457
Hanover Branch, Pa.
444 Lowell and Lawrence, Mass
129
Harrisburg, Portsmouth, Mount Joy and
Lykens Valley, Pa.
457
Lancaster, Pa
445
Hartford and New Haven, Ct.
196 McCauley Mountain, Pa.
458
Hartford and New Haven, Mass
127 McKean County, Pa
458
Hartford, Providence and Fishkill, Ct.
198 Machiasport, Me
23
Hartford, Providence and Fishkill, R. I
188 Main Line of Canals, Pa.
559
Harvard Branch, Mass
127
MAINE, Laws of
34
Hempfield, Pa.
447
MAINE, Railroads of
9
Hestonville, Mantua and Fairmount, Pa.
478 Malden and Melrose (City), Mass.
169
Hicksville and Cold Spring, N. Y.
256 Manchester and Lawrence, N. H.
57
Horn Pond Branch, Mass.
127 Marlboro' Branch, Mass
130
Housatonic, Ct
200 MARYLAND, Canals of
602
Hudson and Berkshire, N. Y
257 MARYLAND, Laws of
599
Hudson and Boston, N. Y.
257 MARYLAND, Railroads of
572
Hudson River, N. Y.
259 Maryland and Delaware, Del
566
Huntington and Broad Top, Pa.
448 Maryland and Delaware, Md.
591
Massachusetts, Laws of
174
Junction and Breakwater, Del
565 MASSACHUSETTS, Railroads of
85
Juniata Division of Canal, Pa
558 Mauch Chunk and Summit Hill, Pa.
459
Meadville, Pa
459
Kennebec and Portland, Me
25 Medway Branch, Mass
131
Merrimac and Connecticut Rivers, N. H.
55
Lackawanna, Pa.
451 Metropolitan (Boston City), Mass
170
Lackawanna and Bloomsburg, Pa
450 Metropolitan, Md
1
587
Lackawanna and Lanesboro', Pa.
451 Middleboro' and Taunton, Mass
132
Lake Ontario, Auburn and New York, N. Y. 261
Middlesex (Boston City), Mass
170
Lake Ontario and Hudson River, N. Y
262 Midland, Mass
133
Lateral Canals, Pa.
560 Mill Creek and Mine Hill, Pa.
459
Laws of Connecticut
215 Millstone and New Brunswick, N. J
393
Laws of Delaware
568 Millville and Glassboro', N. J
396
Laws of Maine
34 Mine Hill and Schuylkill Haven, Pa.
460
Laws of Maryland
599 Mohawk Valley, N. Y.
266
Laws of Massachusetts
174 Monon gahela Navigation, Pa
553
Laws of New Hampshire
66 Morris Canal, N. J.
411
Laws of New Jersey
406 Morris and Essex, N. J
393
Laws of New York
338 Mount Carbon, Pa
462
Laws of Pennsylvania
519 Mount Carbon and Port Carbon, Pa.
463
Laws of Rhode Island
191
Laws of Vermont
69 Nashua and Lowell, Mass.
135
Lebanon Valley, Pa
453 Nashua and Lowell, N. II
60
Lebanon Springs, N. Y.
263 Naugatuck, Ct.
202
Lehigh Coal and Navigation, Pa
536 Newark and Bloomfield, N. J
398
Lehigh Luzerne, Pa
453 New Bedford and Fall River, Mass
138
Lehigh and Susquehanna, Pa
454 New Bedford and Taunton, Mass
138
Lehigh Valley, Pa.
453 Newburyport, Mass
136
Lewiston, N. Y
264 Newcastle and Darlington, Pa
464
Lexington and West Cambridge, Mass
127 Newcastle and Frenchtown, Del
566
Lewy's Island, Me.
23 Newcastle and Frenchtown, Md
591
Liggett's Gap, Pa.
435 Newcastle and Wilmington, Del.
567
Little Schuykill, Pa.
454 New HAMPSHIRE, Laws of
66
Digitized by
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610
GENERAL INDEX TO FIRST VOLUME.
Page.
Page.
NEW HAMPSHIRE, Railroads of
37 Oneida River Improvement, N. Y
372
New Hampshire Central, N. H.
61 Oswego Canal, N. Y
371
New Haven and New London, Ct.
204 Oswego and Syrncuse, N. Y
295
New Haven, New London & Stonington, Ct. 204
New Haven and Northampton, Ct
206 Panama (New Granada), N. Y
300
New Jersey, N. J
396 Paterson and Hudson, N. J
400
New JERSEY, Canals of
411 Paterson and Ramapo, N. J
400
New JERSEY, Laws of
406 Penobscot, Me
30
NEW JERSEY, Railroads of
377 Penobscot and Kennebec, Me.
27
New London Northern, Ct
207 Pennsylvania, Pa.
469
New London, Willimantic and Palmer. Ct. 207
Pennsylvania Coal, Pa
474
New London, Willimantic and Palmer, Mass. 140
PENNSYLVANIA, Canals of
536
NEW YORK, Canals of
353 PENNSYLVANIA, Laws of
519
New YORK, Laws of
338 PENNSYLVANIA, Public Debt of
561
New YORK, Railroads of
218 PENNSYLVANIA, Railroads of
414
New York and Boston, Ct.
209 Perth Amboy, Woodbridge & Rahway, N.J. 401
New York and Boston, Mass
140 Peterboro' and Shirley, Mass.
144
New York and Boston, R. I.
190 Peterboro' and Shirley, N. Y
61
New York Central, N. Y
272 Philadelphia and Baltimore Central, Pa
476
New York City Passenger, N. Y
267 Philadelphia City, Pa
478
New York and Eric, N. Y
278 Philadelphia City Passenger
478
New York and Erie, Pa
465 Phila., Germantown and Norristown, Pa
480
New York General Railroad Laws
325 Philadelphia and Gray's Ferry, (Phila.) Pa. 478
New York and Harlem, N. Y
287 Philadelphia and Darby, (Phila.) Pa
478
New York and New Haven, Ct.
210 Philadelphia and Reading, Pa.
482
New York and New Haven, N. Y
291 Philadelphia and Sunbury, Pa
486
New York, Providence and Boston, Ct.
187 Philadelphia and Trenton, Pa.
486
New York, Providence and Boston, R. I.
187 Philadelphia, Wilmington and Balt., Del. 567
New York State Canals
357 Philadelphia, Wilmington and Balt., Md. 598
Newton (Boston city), Mass.
171 Philadelphia, Wilmington and Balt, Pa. 4S7
Niagara Bridge and Canandaigua, N. Y
292 Pittsburg and Connellsville, Pa
490
Niagara Falls and Lake Ontario, N. Y
293 Pittsburg, Fort Wayne and Chicago, Pa
493
Ninth Avenue (N. Y. City), N. Y
268 Pittsburg, Newcastle and Cleveland, Pa
464
Norfolk County, Mass
141 Pittsburg and Steubenville, Pa
499
Northern, N. H.
58 Pittsfield and North Adams, Mass
145
Northern, N. J
399 Plattsburg and Montreal, N. Y
299
Northern Central, Md
592 Portland and Oxford, Me.
30
Northern Central, Pa
465 Portland, Snco and Portsmouth, Me
28
Northern (Ogdensburg), N. Y
293 Potomne Navigation, Md.
606
North Branch Canal, Pa
546 Potsdam and Watertown, N. Y.
207
North Lebanon, Pa
465 Providence and Plainfield, R. I
189
North Pennsylvania, Pa.
466 Providence, Warren and Bristol, Mass
188
North Philadelphia, Pa.
478 Providence, Warren and Bristol, R. I
183
North Western. Pa
466 Providence and Worcester, Mass
146
North Western (Balt. and Ohio), Va
578 Providence and Worcester, R. I
188
Norwich and Worcester, Ct.
213 Public Debt of Pennsylvania
561
Norwich and Worcester, Mass
141
Quakake, Pa
500
Ogdensburg (Northern), N. Y
293
Ogdensburg, Clayton and Rome, N. Y
296 Railroads in Connecticut
192
Ohio and Pennsylvania, Pa.
469 Railroads in Delaware
562
Old Colony, Mass
141 Railroads in Maine
9
Old Colony and Fall River, Mass
142 Railroads in Maryland
572
Oneida Lake Canal, N. Y
37U Railroads in Massachusetts
85
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Google
GENERAL INDEX TO FIRST VOLUME.
611
Railroads in New Hampshire
37 Susquehanna and Tide Water Canal, Pa
552
Railroads in New Jersey
377 Sussex, N. J
403
Railroads in New York
218 Swatara, Pa
509
Railroads in Pennsylvania
414 Syracuse, Binghamton and N. York, N. Y
313
Railroads in Rhode Island
185 Syracuse and Rochester, N. Y
315
Railroads in Vermont
69 Syracuse and Utica, N. Y
315
Raritan and Delaware Canal, N. J
402
Rensselaer and Saratoga, N. Y.
303 Taunton Branch, Mass
154
RHODE ISLAND, Laws of
191 Third Avenue (N. Y. City), N. Y
270
RHODE ISLAND, Railroads of
185 Thirteenth and Fifteenth Street (Phila.) Pa. 478
Richmond and Schuylkill (Phila.), Pa.
478 Tioga, Pa
509
Ridge Avenue and Manayunk (Phila.), Pa.
478
Tonawanda, N. Y
316
Rochester and Genesee Valley, N. Y
304 Trevorton, Pa
510
Rochester and Lake Ontario, N. Y
306 Troy and Bennington, N. Y
316
Rochester, Lockport & Niagara Falls, N. Y. 306
Troy and Boston, N. Y
317
Rochester and Syracuse, N. Y
307 Troy and Greenbush, N. Y
319
Rutland and Burlington, Vt.
74 Troy and Greenfield, Mass
156
Rutland and Washington, N. Y
307 Troy and Rutland, N. Y
320
Rutland and Washington, Vt.
76 Troy Union and Depot. N. Y
320
Rutland and Whitehall, Vt.
77 Tyrone and Clearfield, Pa
511
Tyrone and Lockhaven, Pa
511
Sackett's Harbor and Ellisburg, N. Y
307
Sackett's Harbor and Saratoga, N. Y
308 Union (Boston City), Mass
173
Salem and Lowell, Mass
148 Union (Ramapo), N. Y.
321
Saratoga and Schenectady. N. Y.
308 Union (Syracuse) N Y.
322
Saratoga and Whitehall, N. Y
309 Union Canal, Pa.
549
Schenectady and Troy, N. Y
311 Upper North Branch Canal, Pa
558
Schuylkill Navigation, Pa
540 Utica and Schenectady, N. Y
322
Schuylkill and Susquehanna, Pa
501
Schuylkill Valley, Pa
501 Venango, Pa
512
Second Avenue (N. Y. City), N. Y
268 VERMONT, Laws of
88
Second and Third Street (Phila.), Pa
47S VERMONT, Railroads of
69
Seneca River Towing Path, N. Y
373 Vermont and Canada, Vt.
80
Seventeenth and Nineteenth St. (Phila.) Pa.
478 Vermont Central, Vt.
78
Shamokin Valley and Pottsville, Pa
503 Vermont and Mussachusetts, Mass.
158
Shenango Line of Erie Canal, Pa.
555 Vermont and Massachusetts, Vt.
77
Sherman's Valley, Pa.
512 Vermont Valley, Vt.
80
Sixth Avenue (N. Y. City), N. Y
269
Skanenteles and Jordan, N. Y
311 Waltham and Watertown, Mass
172
Sodus Point and Southern, N. Y
312 Warren, N. J
404
Somerset and Kennebec, Me
31 Washington Branch, Md
596
Somerville (Boston City), Mass.
171 Watertown and Rome, N. Y
323
Southern Vermont, Vt.
77 West Branch Division Canal, Pa
558
South Reading, Mass.
149 West Branch and Susquehanna Canal, Pa. 548
South Shore, Mass
150 Western, Mass.
160
Staten Island, N. Y
312 Western Division of Canals, Pa.
558
Stockbridge and Pittsfield, Mass
151 Western Maryland, Md
597
Stony Brook, Mass
152 Western Vermont, Vt.
81
Stoughton Branch, Mass.
153 West Cambridge (Boston), Mass.
173
Strasburg, Pa.
504 Westchester, Pa
512
Sullivan, N. H
62 Westchester and Philadelphia, Pa
513
Sunbury and Erie, Pa
514 West Jersey, N. J
405
Susquehanna Division Canal, Pa.
558 Westminster Branch, Md
598
Susquehanna and Tide Water Canal, Md.
606 West Philadelphia (City), Pa
478
Digitized by
Google
612
GENERAL INDEX TO FIRST VOLUME
Page.
Page.
West Roxbury, Mass
172 Worcester and Nashua, Mass
164
West Stockbridge, Mass
163 Worcester and Nashua, N. H.
65
White Mountains, N. H
63
Works, Public, Pa.
557
Wicomico Canal, Pa
557
Wrightsville, York and Gettysburg, Pa.
516
Williamsport and Elmira, N. Y
322
Wyoming Canal, Pa
547
Williamsport and Elmira, Pa
415
Wilmington and Susquehanna, Del
598 York and Cumberland, Me
32
Wilmington and Susquehanna, Md
598 York and Cumberland, Pa
418
Wilton, N. H.
64 York and Maryland Line, Pa
418
Worcester Branch, Mass
166 Youghiogeny Navigation, Pa.
555
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BOOKS MAY BE RECALLED AFTER 7 DAYS
nonth loans may be renewed by calling 642-3405
nonth loans may be recharged by bringing books to Circulation Desk
newals and recharges may be made 4 days prior to due date
DUE AS STAMPED BELOW
25 1983
-
d circ. MAR 7
1983
8 1983
IR. now 10 83 83
INTERL
BRARY LOAN
JUI 9 1985
UNIV. OF CALIF., BERK.
SEP 6 1985
1
UNIVERSITY OF CALIFORNIA, BERKELEY
Л NO. DD6, 60m, 12/80 BERKELEY, CA 94720
Ps
HE
250889 2721
P7
THE UNIVERSITY OF CALIFORNIA LIBRÄRY
GENERAL LIBRARY - U.C. BERKELEY
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3
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