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D, Feb. 20, 1864.

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D, Oct. 2, 1865.

Jewett City..

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B, Sept. 1, 1865.

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A, Series 1875.

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Dedham, Mass.

Fall River, Mass.

*Galena, Ill..

Hanover, Pa
Jackson, Mich..
Jewett City, Conn..
Montpelier, Vt.....
New Bedford, Mass.
No thampton, Mass..
Paxton, Ill...

Tamaqua, Pa...
Troy, N. Y...

Virginia, Ill....
Westfield, Mass.

Osage, Iowa....
Pontiac, Ill.....

Albany. N. Y.
Auburn, N. Y.
Buffalo, N. Y.
Lafayette, Ind..
Lockport, N. Y..
Muncie, Ind..
Newburgh, N. Y
New York, N. Y..
New York, N. Y..
New York, N. Y..
New York, NY..
New York, N. Y..
New York, N. Y..
Philadelphia, Pa....
Philadelphia, Pa
Poughkeepsie, N. Y.
Poughkeepsie, N. Y.
Poughkeepsie, N. Y.
Red Hook, N. Y.
Richmond, Ind
Rochester, N. Y.
Rome, N. Y...
Syracuse, N. Y..
Troy, N. Y..
Waterford, N. Y.
Watkins, N. Y....

Montpelier. (Photographed)

National State Bank.. Farmers'....

Hampden

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C. & D. Aug. 1, 65. Bank No. Treasury No. to 2,200 560,958 to 561,407 741 to 765 252,111 to 252,135

Osage National Bank. 1,751 .Nat. Bank of Pontiac. 10s.

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+ The date on this note is incomplete, it reads simply “U 19th, 1865." Central National Bank altered with a pen to Union National Bank.

COUNTERFEIT U. S. TREASURY NOTES.

1s Portrait of Chase, act July 11, 1862, dated Aug I, 1862. B & D.

28 Portrait of Hamilton, act July 11, 1862, dated Aug. 1, 1862. C & D.

2s Photograph. Portrait of Jefferson; Series of 1875. Letter D, No. 8,34 504. John A. Allison, Register. A. N. Wyman, Treas.

5s Statue of Liberty, act Feb. 25, 1862, dated March 10, 1862. A.

5s Statue of Liberty, act Feb. 25, 1562, dated March 10, 1863. A.

58 Statue of Liberty, act March 3, 1863, dated March 10, 1863. A & D.

5s Portrait of Jackson, act March 3, 1869. Series of 1875. C & D.

5s Photograph. Series of 1875, Number B 8058120.

10s Portrait of Lincoln, act Feb. 25, 1862, dated March 10, 1862. B & D. 10s Portrait of Lincoln, act March 3, 1863,dated March 10, 1863. D. 108 Portrait of Webster. Series of 1875. Letter C.

20s Female with shield and sword, act Feb. 25, 1862, dated March 10, 186 A, B, C.

20s Female with shield and sword, act Mar. 3, '63, dated Mar. 10, '63. A. 20s Portrait of Hamilton, act March 3, 1863. Series of 1875 and '78. C. (E

ecuted with pen and ink.

50s Portrait of Hamilton, act Feb. 25, 1862, dated March 10, 1862. C 50s Portrait of Hamilton act March 3, '63, dated Mar. 10, '63. A, B, C, D. 50s Portrait of Clay, act March 3, 1863. Series 1869. B.

50 Compound Interest Note, act June 30, 1864, dated July 15, 1864. C. 100s Compound Interest Note, act June 30, 1864, dated May 15, 1865. B. 100s Large Spread Eagle, act Feb. 25, 1862, dated March 10, 1862. B & C. 5008 Portrait of J. Q. Adams, act March 3, 1863, dated series 1869. B & C. 1000s Portrait of Robt. Morris, act March 3, 1863, dated March 10, '62. B. 1000s Portrait of Robt. Morris, a t March 10, 1862, dated March 10, 1863. Lett B. D.

OTHER CHECK LETTERS.

The following is a list of banks having plates bearing check letters other th A, B, C, D:

5s National Bank of the Republic, Boston, Mass.

Charter number 379; Check letters E, F, G, H. 5s Manufacturers' National Bank, Amsterdam, N. Y. Charter number 2239; Check letters E, F, G, H.

5s Lycoming National Bank, Williamsport, Pa.

Charter number 2227; Check letters E, F, G, H.

10s First National Bank, Hoboken, N. J.

208 Charter number 1444; Check letters on 10s D, E, F, and 20s B.

20s Merchants' National Bank, New Bedford, Mass.

Charter number 799; Check letters B, C, D, E,

NEW ISSUE OF U. S. TREASURY NOTES
NOT COUNTERFEITED.

Is In centre is portrait of George Washington.

28 Portrait of Thomas Jefferson. 5s Portrait of Andrew Jackson.* 10s Portrait of Daniel Webster.* 20s Portrait of Alex. Hamilton.

50s Portrait of Benjamen Franklin.

100s Portrait of Abraham Lincoln.

5008 Vignette representing Victory divested of her ror.
1000s Portrait of DeWitt Clinton, ex-Governor of New York State

* Only notes of the new issue counterfeited.

Kentucky Central Railroad.

Passenger-sheds have been built at Union Square, Somerville and Concord Junction. The accommodations for cattle at Union Market have been increased, and a new freight house built there.

and Massachusetts Railroad and branches, leased | laid in the yards before mentioned, an aggregate The control of the Kentucky Central Railroad for 999 years, 58.80 miles; length of double track length of 10.6 miles. has passed into new bands, who propose to extead it so as to connect with the Chesapeake and on Vermont and Massachusetts Railroad, 10.89 Obio Railway at Winchester, Ky., then south to miles; length af side tracks on Vermont and Caseyville, Tenn., where it will meet the Knox- Massachusetts Railroad, 25.35 miles; total length ville and Ohio Railroad, already completed, giv- of tracks operated, 292.29 miles. ing this city a direct connection with the impor tant railroad lines centering in Knoxville, and

Total number of passengers carried, 2,461,603;

and Common street grade crossing discontinued, and its travel turned into Concord Avenue, the next crossing east.

The Weston Depot has been rebuilt. The accommodations at Lake Walden picnic grounds have been materially increased.

built, the old one removed, and changed into a At Belmont a new passenger depot has been opening up trade with a rich country which has do. carried one mile, 39,752,302. Number of dwelling-house, the grounds greatly improved, long sought such facilities, and upon which we tons carried, 1,546,950; do. carried one mile, have cast lunging eyes for many years. Other 96,534,772. The report says: connections and combinations are among the The condition of the roadbed and track has probabilities, including a trank line to the South- been greatly improved since our last report, and ern seaboard. It is understood that sufficient will require large additions in the coming year capital is at the command of the new owners of to meet the demands of the increasing traffic. the Kentucky Central to carry out the project. Reference has been made in former reports to will antagonize the Cincinnati Southern Railroad, the constantly increasing Tannel traffic, and to bat there is little ground for such apprehensions. the corresponding provisions for the same. The two lines run parallel to each other, it is Hitherto we have been restricted in developing true, for some distance, but not near enough to the facilities for the accommodation of this busiinterfere with local trade, and there will be ness, on account of the uncertainty of our arthrough business enough for both. Trade grows rangements with the State for operating the as the facilities increase, and there is room for a Tunnel road. Now, however, the policy of the third Southern Railroad, in the direction of Nash-State has been settled; and since the execution Tille-Cincinnati Price Current, Dec. 30.

It is suggested that this new line to the South

Fitchburg Railroad.

The receipts of this road for the years ending September 80, 1879, and 1880, have been as fol

lows:

1379.

1820.

at South Acton by the removal of a reverse curve; The alignement of the road has been improved and at several points between that place and Ayer the tracks have been raised, and the grades equalized.

At Maynard the construction of a new passenger depot has been began; between Maynard and Rockbottom three pile bridges have been rebuilt; and the grades on the Lancaster and Sterling Branch have been improved. of a seven years' contract with the Common- At Littleton' a new depot has been built, and wealth, we can more securely make outlays for the old depot removed and changed into a dwellimprovements of an extensive and permanent ing house.

character. The traffic has so increased as to The pile bridge over the Nashua River on the test the capacity of the road to its utmost; and Peterborough and Shirley Branch has been rethe assurance that we have of its permanency built. and additional increase demands the greatest The old wooden stringers which crossed the baste practicable in developing our terminal canal at two points in Townsend Harbor bave $749,169 66 facilities for both local and export business, in been replaced with substantial iron girders; and freight.. 1,205,958 76 1,496,459 11 92,378 95 completing the double track to Greenfeld, our new granite quarry, for the company's use, has 40.400 22 western terminus, in increasing our motive and been opened at Pratt's Station. carrying capacity, and in improving and enlarging every facility necessary to do the business with despatch and economy.

From passengers.... $663,289 84

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23,561 19
99,500 00
57,196 78
71 73

Expenditures:

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stractures.

27,611 93 79,500 00 68,823 03 10,000 00 156 29

$2,079,973 52 $2,464,598 97

cars

Renewal of rails

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Repairs of road...... $135,987 07 bridges... 24,120 75 locomotives 87,997 24 120,899 40 73,141 82 41.837 83 Fuel for locomotives. 202,€24 48 19,999 61 4,549 28

Telegraph expenses..

Taxes, insurance, etc, 103,517 25 8,577 06

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Rent of roads....... 242,256 00 99,462 08 8.222 36 All other expenses... 599,594 97 27,451 31

$148,740 86

Additional accommodations for our export business will be provided by the Hoosac Tunrsl Dock and Elevator Company, which was incorpo rated April 29, 1879, and authorized to take the property at the terminus of our tracks below

a

contain two large tanks of forty thousand gallons' At Ayer a new tank-house has been built to capacity.

At Diamond Rock, in Lunenburg, we have replaced the old wooden trasses with iron girders.

At Leominster we have finished the improvemeats to the passenger depot and its approaches, and greatly improved the roadbed and its tracks

at this point.

Charles river Bridge, or so much of it as they
should deem advisable, from Tudor's Wharf to At Fitchburg an extension of ten pits to the
the Navy Yard, "and construct aud maintain engine boase has been built, and tracks laid into
docks, wharves, elevators, warehouses, and other the Rollstone lumber yard and at the works of
buildings and structures suitable for terminal the Putnam Machine Company.
facilities for the reception, storing, delivering, At West Fitchburg, to accommodate the local
and forwarding of freight." This company is business, a coal shed of about eight hundred toos'
already organized, and it will very soon take capacity has been built, and the approaches
possession of a portion of the property, and im-thereto graded.
mediately begin work thereon.
At Westminster the location of the freight
tracks has been changed.

23,867 45
90,259 62
141,764 91
117,897 80
78,093 54
217,951 89
18,840 62
24,964 64
150,875 68
16,572 43
240.212 00
At the last annual meeting you authorized your
115,216 69 directors to subscribe for and take such portion
16,814 74 of said company's stock as they should deem ad
21 623 10 visable. In accordance with the authority grant
648,769 81 ed, the directors have taken $192,000 of the
st. ck.

$1,800,033 47 $2,080,963 78

At Gardner the work of grading for the second track between there and Ashburnham has been begun.

At Athol the freight yard has been re-arrangad and enlarged, and the extension of the stone arch in the yard completed.

Considerable grading for the second track has

been done between Athol and Pequoig.

At Orange a new passenger and a new freight former graded, and the freight yard re-arranged and enlarged.

In November, 1879, we purchased Hittenger's Net earnings.... $279,740 05 $388,635 19 Wharf, the first wharf east of Tudor's, for $118,The company have 81 locomotives, 83 tendare, in the charter of the Dock and Elevator Com701 36. This is a part of the property described 90 passenger, 25 mail and baggage, 1,677 eight pany, and they will undoubtedly soon avail Co-depot have been built, the grounds around the wheel and 191 four wheel box freight, 631 eight selves of their right to take or purchase it. To provide more room for the constantly iccreasing freight business consigned to Boston, we Between Orange and Athol about three miles bavo began the construction of a four hundred of the second track have been graded and buil:,

wheel and 10 four wheel platform, 126 gravel and
coal, and 20 saloon cars, and 9 snow plows.
Nomber of miles rua by passenger trains, foot extension of No. I freight house; have pura portion of the second ledge east of Orange re-
741,184; by freight trains, 811,085; by switching chased of the Massachusetts General Hospital moved for said track, two highway overhead
and other trains, 825,552-total, 1,884,771.

about twenty-five acres of land and flats in Somer-bridges rebuilt, and a new pier put in and the
ville, and filled in a portion thereof; have large- abutments rebuilt for a new iron bridge ic place
ly extended the tracks in tue Miller's river and of the first truss bridge west of Athol.
At Lake Pleasant a large water-tank and

Length of main road operated, 143 miles.
Length of double track road, belonging to the Somerville freight yards; have been authorized |

company, 50.68 miles; length of Watertown to build a sea-wall 2700 feet in length, and fill pumping-engine have been put in to supply the Branch Railroad, belonging to the company, 6.60 in certain fla's south of the Miller's river freight picnic grounds with water, a substantial footmiles; length of Lancaster and Sterling Branchyard; and bave nearly completed the purchase bridge over the railroad built, and the accommoRailroad, belonging to the company, 12.42 miles; yard, which, with the pieces before mentioned, length of Peterboro' and Shirley Railrcad, be-will double our terminal facilities. side and other tracks, belonging to the company, Fitchburg, West Fitchburg, Baldwinville, Athol, house, and two single and one double tenement 63.76 miles-total length of tracks, belonging to Orange, Miller's Falls, Lake Pleasent, East Deer-house. the company, 197.76 miles. Length of Vermont field, and Turner's Falls, making, with the tracks

of certain additional property adjacent to said dations there otherwise increased.

Jonging to the company, 23.62 miles; length of

At East Deerfield a new and extensive freight yard has been opened; a sixty foot iron turn. Additional tracks have been laid at Cambridge, table put in; and we have also built there an Belmont, Concord, Mayoard, Littleton, Ayer, engine house for eight pits, a freight transfer

At Turner's Falls a new turn-table has been

put in; and, to reach it better, the tracks have been re-located.

At Cheapside, in Greenfield, the old wooden stringers over the highway have been replaced with iron girders.

The company have laid during the year, exclusive of construction, 1 952 tons of teel rails, 956 tons of iron rails, and 91,034 new sleepers.

Real estate has been purchased at Boston, Somerville, Belmont, Deerfield, ard Montague. During the year one switching and four consolidation freight locomotives have been par chased, one passenger engine built, one old loco motive sold, and eight new passenger cars and six hundred and eighty-five new freight cars added to our equipment, making our expenditures for additions to equipment $497,288 29.

There has been an increase in gross earnings from all sources of $384,625 45, or eighteen per cent; in operating expenses, inclusive of rents of roads, interest, and taxes, of $280,780 31, or fifteen per cent; and of net earnings, of $103,895 14, or thirty-seven per cent.

There has been ar increase in interes! paid of $15,754 61; 1 decrease in rents of road paid of 82,014 00; a decrease of income received from rent of roads of $20,000, and an increase of premiums received of $10,000 00.

There has been an increase in passengers car ried of 234,598, or ten per cent; ia total number tons freight carried, of 233,661, or seventeen per cent; and in total train mileage, of 121,516 or six per cent; and of the operating expenses including taxes, per total mile run, from eighty

three to ninety-one certs.

The passengers carried over the Troy and Greenfield Railroad have increased from 83,152 in 1879 to 114,664 in 1880; and the tolls paid the Commonwealth for passengers, expresses, and mails, have increased from $37,184 57 in 1879 to $46,154 69 in 1880.

The freight over the same road has increased from 624 083 tons in 1879 to 751,451 in 1880; and the tolls paid therefor have increased from $100,448 71 in 1879 to $181,782 95 in 1880.

The total tolls paid the Commonwealth on freight and passenger business bave increased from $187,688 28 in 1879 to $177,937 64 ir 1880, or $40,304 36.

burg Railroad Company 52.491 per cent of the
gross receipts of the Troy and Greecfield Rail-
road as the operating cost for the nine months
ending December, 1879, and thereafter until one
month's notice by either party, or until action in
the matter by the Legislature.

By chap. 261, Laws of 1880, the Manager of the
Troy and Greenfield Railroad by direction of the
governor and council, was authorized to contract
with any railroad corporation or corporations for
the operation of said railroad for a term not ex-
ceeding seven years.

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Under said Act the contract annexed to this Del.' & Bound Brook..
report was made with this company.
70......

The assetts and liabilities of the corporation,
Sept. 30, 1880, were as follows:

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Oct. 1, 1880).
Coupon No. 6, (dus
Coupon No. 18, (due
Oct. 1, 1880)
Oct. 1, 1880)..
Suspense account..
Renewal fund..

12 500 00

15,000 00

17.500 00
35 643 01
25,137 77

........ ....

$52 905 34
305,478 91
423 134 01
70 286 44
170,000 34

1,617,397 91
18.600 61

$2,657,803 56

2,066,015 30

$591,788 26

By reference to the above statement it will be seen that the expenditures on account of contraction exceed the amount of capital stock by The Vermont and Massachusetts Railroad Com. 81,617,397 91: this, together with the sum of pany, in its lease to us, and upon the written $70,286 44, represent the amount respectively request of this company, covenanted and agreed exper.ded in additions and improvements on the to sell and convey to whomsoever may be de- Fitchburg and Vermont and Massachusetts Rai!signated in said request, provided such sale can lawfully be made, that portion of its railroad roads, and are not available assets until stock is which lies between "Grout's Corner," now "Mil-issued to cover the amount expended in excess let's Falls," and Brattleborough, Vt., and known of the present capital, but stand as an investment as the Brattleborough Branch, which branch bas until capitalized. never been operated by the Fitchburg Railroad Company. It was under lease to the Rutland TRIAL BALANCE, September 30, 1880. Railroad Company, and formed a part of the New Construction account $6,117,397 91 York line of the Central Vermont Railroad. In 52,905 34 the struggle of the various roads competing for 305.478 91 this business, there was a constant liability that 423,134 01 the value of the most profitable portion of the same would be seriously impaired by the construction of a parallel road. Under these circumstances your directors, after obtaining the requisite legal authority, and in conformity with the vote passed at the last annual meeting, sold on May 1, 1880, said branch, with the real estate appertaicing thereto, to the New London Northern Railroad Company for $630.500, which sum, by the terms of the lease of the Vermont and Massachusetts Railroad, has been applied to the pay ment for additions and improvements made by this company on that road.

In our last annual report we left the discussion of tolls on the State's road, with the agreement with the Commonwealth to determine by arbitration what rebate, if any, from the existing tolls, would enable this company to operate the Troy and Greenfield Railroad at cost.

The arbitrators appointed under said agree ment were the Hon. Waldo Colburn, S. M. Felton, Esq., and E. B. Phillips, Esq., who met in Jacuary last, and, after a long and patient bearing of the parties, made their award, allowing the Fitch

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Real estate .... .... ....
Stock materials........
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chusetts Railroad
Sinking fund....
Debit balances....

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170,000 34
18,600 61

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@7,902,094 65
.$4,500,000 00
1,500,000 00
406,500 00
8,761 50
45,000 00
105,753 80
744,291 09
591,788 260, Alex. & Manassa 70..
Pittsb. & Connellsv.70

Notes payable....
Unclaimed dividends.
Interest unpaid..........
Vouchers and accounts....
Vermont and Massachusetts R.R. Co.
Profit and loss.....

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Virginia 68, Consol 751 771
Consol. Coupons!....
891
10-40 bonds............ 51 511 511
Deferred Certificates....
Western Maryland
1st M.,end. by Balt......
2d M.
do. ......

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President.-W. B. STEARNS.
Directors.-Wm. B. Stearns, Boston; Rodney
Wallace, Fitchburg; C: U. Cotiiug, Brookline;
Seth Bemis, Newton: Robert Codman, Boston.
Treasurer.-M. D. BENSON.
Superintendent.-C. L. HEYWOOD.

8d M., 40.
1st M.,unendorsed.......
21 M.,end. Wash. Co..
21 Mort., preferred..107
Olty Passenger R R.......

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89x 91 911

78, consolidated, as..116 116 1s, convertible, are......

Income........... $5 Astment..........109) Deatral Pacific......... 95 921

6s, gold..........

1st M. (San Joaquin).107

Ist M.(Cal. and Or.).1051

Land grant 6.....

Lesapeake and Ohio... 241

cago and Alton

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Baltimore and Ohio (sterling).......117-119 117-119 Central of New Jersey $100 shares. 78 - 82 78-82 Do. Cons. Mort. Oct. 79 coupon...114 115 115-117 Do. Adjustment bonds........... 112-114 112-115 Do. Income bonds................ 96-100 98-100 Det., Gd. Haven & Mil. Equip. bds.111-113 113-116 Do. Con. M. 5 p.c.till '84 after 6p.c.108 -110 109-111 142 Illinois Central$100 shares.........125-1264 128-1291 Lehigh Valley Consol mortgage....116-118 118-118 N. Y. Cent.& Hud. Riv. Mt. bonds 135-138 135-188 Do. $100 shares.................... .........149-151 150-152 Do. Mort. bonds (st.).. .......122 -124 123-125 N.Y., Lake Erie & West., $100 shs... 48-491 50 Do. 6 p. c. pref. $100 shares..... 81 83 34 -86 Do 1st Con. Mort. Bonds (Erie)...130-132 131-139 Mort. Funded Coupon bonds.....128-130 129 -131 Do. do. 2d do. ....102-104

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Pacific Mail B. S. Co.. 601
Pacific R. R. of Mo........

1st mortgage........................
2d mortgage............ -1171

114x Panama.....

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Philadelphia & Reading 521 Pitts., Fi.W. & Chi. gtu 129

1st mortgage........

2d mortgage..

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3d mortgage ......... Pullman Palace Car....135 Quicksilver Mining Co

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179 178 180 St. Louis & San Fran.. 441

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1st mortgage
Land Grant 78......
Sinking Fund 88.... 122
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2d mortgage.......... 108
78, Consolidated.....111

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110 111 1101

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New Mort. 78........107 Wells Fargo Express. 116 Western Pacific bonds.112 Western Union Tel ... 811 18,8. F. conv., 1900......

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J.ev.& Pittsburg guai .... 129)

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Jl.& Hudson Canal. 924 92

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Boston and Lowell
Boston and Maine.....146

130 1301 Boston and Providence
Boston, Hart. & Erie 50
Burl, & Mo. R. L. G.78.....
Burl. & Mo. R. in Neb.

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N. Y., Penn. & Ohio 1st mor.. bds.... 58 - 59 Do. Prior Lien Bonds (sterling)....104-106 Pennsylvania, $50 shares........... 4 Do. Con. Sink. Fund Mort........118-120 115 -- 120 27 27 28 Philadelphia & Reading $50 ahares. 261General Consol. Mortgage........112-114 112-114 Do. Improvement Mortgage......102-103 107-108) Do. Gen. Mort. '74, ex-deferd. con. 88 $890 Do. Scrip for the o def. coupons. 86 87 88 Pittsbg, Ft W. & Chic. Equip bds.110-112 110-112 St. Louis Bridge 'at mort. gold bonds119 -131 119-121 lat pref. stock 76 - 80 Union Pacific Land Grant 1st mort.114-116 114-1185

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Financial and Commercial Review. THURSDAY EVENING, January 6, 1881. Six per cent. has been the full rate for call W.6.leans, while a good part of the basiuess was done 15 at 5 per cent. Time loans are 4@5 per cent., 1221 and prime mercantile paper 5@51⁄4 per cent. The closing quotations at the Stock Exchange for call loans was 4@5 per cent. The posted rates for prime bankers sterling are 98% and 99%, respectively; the actual rates are 98@9-16 and 99@1-16. Cable transfers are 98% @3-16.

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By referring to the statement given in another 89 colamu, it will be seen that the total debt of the 180 1781 1801 United States, December 31, 1880, was $1,121, 481,475 20, less cash in the Treasury $222,299,739 41, leaving net $1,899,181,735 99. The debt 391 bas been reduced $5,699,430 76 since the 1st 1031 December, and $42,900,559 35 since the 1st of July last, an average of $7,165,100 per month. Of 611 the bonded debt $202,266,550 bears 6 per cent. 921 interest, $469,651,050 bears 5 per cent, $250,000.000 bears 42 per cent., $739,347.800 bears 4 per cent, and $14,000,000 bears 3 per cent. Interest has ceased upon $11,484,395 26, and $413,135,301 12, being in the form of legal tenders, certificates In addition of deposit, etc., bears no interest. there are $64,623,512 bonds issued to Pacific Railroad Companies, which bear 6 per cent interest, known as currency sizes. The available cash in the Treasury smonots to $148,508,615 41. The payments made from the United States Treasury in December (exclusive of interest or principal of the public debt) were as follows 44 Civil and miscellaneous, $5,470,959 98; war,

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