AMERICAL ournal ailroad tend a number have but just taken their of- a shipping point, which its desirable location fice, and they will come direct from legislative warranted even at a much earlier period in its halls where their duties have not been over history. Its excellent barbor and various clearly defined, though discussed too often in shipping advantages will soon be utilized to an ways far from unprejudiced or practical. The extent that will vastly increase the commerentire history of railroad commissions is brief, cial importance of the city. The extension oi CAN RAILROAD JOURNAL COMPANY, embracing perhaps a dozen years; the first the Chesapeake and Obio Railway and early · ESTABLISHED 1881.) PUBLISHED WEEKLY BY THE -23 LIBERTY STREET, NEW YORK. President. ion, per annum, in advance... Subscription, including postage.. BRANCH OFFICE: 3 Devonshire St., Boston, Mass. 6 00 national convention of railroad commissioners direct communication with the Southwest and was held at Springfield, Ill., in July 1875 and the Pacific States will not only revive and it has been since that date that commissions greatly extend the shipping interests of that have been generally adopted throughout the port but will add new impetus to the activity $5 00 country. But among those who will meet at of business enterprises and local industries, the coming convention are several men who which have shown a new life during the past have been continuously connected with the few years. From statistics recently published Boards of their respective States since the it appears that the exports of Norfolk, which commissions were first organized; men who in 1865 amounted to but $11,538, rose last have earnestly and faithfully studied the year to $18,895,158; the cotton trade showduties devolving upon them and have so per- ing an increase from 6,174 bales in 1858-59 to formed them that the efficiency and utility 585,514 bales for the first six months of the of such commissions, when wisely conducted, cotton year of 1880-81. have been demonstrated. Of such commissioners those who are now for the first time taking upon themselves the duties of the office can learn much that will be of advantage to them and the interests they represent. dr. FREDERIC ALGAR, Nos. 11 and 12 Lane, Lombard Street, LONDON, E. C., Engthe authorized European Agent for the PRINCIPAL CONTENTS. 545 ing Field for Enterprising Explorers....545 Street Car..... way Signal... e of New York .546 .51€ Passenger Ticket Good for a Passage if .546 ted within the Period of Limitation.....546 its for the Canada Pacific Railway.. Commissioners' Convention nce among Railroad Men.. ation and Dividends. Railroads... ... tion or Continuation of United States Five at Bonds.. .548 .549 550 550 Temperance Among Railroad Men. Occasional items are found floating about, assuming the character of news in many papers in regard to certain railroad managers requirAmong other things which they will find, ing of employes abstinence from the use of incontrary perhaps to some of the ideas which toxicating drinks while on duty. It is spoken 546 may have fallen upon them with their appoint. of as though such requirements were the ex547 ments from much muddled legislatures, is that ception rather than the rule, while it should be 547 it is not so much the creation of railroad com- well known that in regard to no duties are 549 misions that railroad men object to as it is the railroad rules universally more strict, and assumption by any inexperienced man, offici- their enforcement more rigidly carried out, in ally or otherwise, of the duties of railroad all departments of any responsibility or trust, managers. Railroad commissioners and rail- than concerning that duty which demands of 550 road managers when both understand their an employe a clear brain and steady nerves, 551 duties and their privileges, and consistently which the use of alcoholic liquors is liable to 551 try to direct their course according to the make at any moment impossibilities. One of .551 same, as a rule fiud few antagonistic relations the first questions asked of an applicant for a 551 developed between them, excepting where position on a railroad, and one of the most im..551 unwise legislative action has made the duties portant features essential to a good recommenof the State official unreasonably whimsical dation to such a position, will generally touch in character and as unpleasant as unprofitable upon a man's habits as to temperance. While in execution. While the functions of the vari- there must be of necessity more or less use of ous commissions differ so widely there are alcoholic drinks among railroad men, cases of still many characteristics common to all, that intoxication among them as compared with the at the Post Office at New York, N. Y., as Second can be discussed to advantage in such a con- same number of men in other trying positions Railroad .550 .551 .551 ...564 of Railroad Companies to take Timber, etc., Adjacent Public Lands w York, Saturday, May 21, 1881. Class Mail Matter. ilroad Commissioners' Convention. 567 ference, and they relate chiefly to practical are exceedingly rare at any time, and especially matters, pertaining to the adoption of uniform so when upon duty. To their credit it can and simple methods for obtairing the informa- truthfully be said that this good result comes convention of State Railroad Commis- tion desired from railroad companies; the most as much from a sense of honor and duty among , which it is proposed to hold sometime important duty of such commissions and the these frequently overtaxed men as from any month at Louisville, Ky., will be one of main purpose of their establishment. The fear of discharge. But the rules in regard to ial interest owing to the extended agita- policy adopted by the convention of 1879 was intemperance are exceedingly strict on all well of the railroad question which the past to avoid all discussion of abstract questions managed railroads, and on many roads no emer has witnessed in the various States, relating to railroads, and to confine the work ploye in any capacity whatsoever can remain if fully attended and wisely conducted it to practical subjects connected with the prim- who is kuown to use intoxicating liquors at be made advantageous alike to commis- ary duties of the commissioner's office, and the all. er, the States they represent, the rail-same policy adhered to this year will be more The railroad companies are doing a great and the people. Of the twenty one productive of good than would be possible un- deal to encourage temperance by forming volunes now having such commissions several der any assuming or ambiticus policy that tary temperance societies, and with consideradopted them within the past few months, may have been incited during the past winter able success, and the movement is a most bile they have given them widely dif- by ill-advised and unscrupulous attacks upon worthy one and commends itself to all; but ing powers there are many duties assigned general railroad management. mon to all, for the better performance of ich a conference should prove a valuable] NORFOLK gives promise of rapidly taking Among the commissioners who will at the important position as a business center and where pledges have been required of employes there has naturally been found some opposition, though when presented in the right spirit the requirement is one that it is pleasant to be lieve is becoming more and more cheerfully ney, Henry E. Cooper; Chief Engineer, Joseph O. of Levi P. Morton, and David Dows that Cabot Ward. At a subsequent meeting of complied with. The compulsory nature of Osgood; auditor, J. H. Goodspeed. the forced pledge is likely to be looked upon A despatch from Portland, Oregon, dated May 11th, tors, Thomas Dickson was re-elected Presi At Harrisburg, Penn., on the 10th inst as one of its most disagreeable features to the says the board of directors of the Oregon and Califor nia Railroad Company has elected Henry Villard were granted to the Ohio and Baltimore intelligent rallroad man who considers his own president, vice R. Koehler, resigned. Paul Schulze Railway Company, running from Washing welfare and that of others, and appreciates the and C. H. Lewis resigned as directors, and C. E. B. to Connellsville, designed as a branch of responsibilities in many cases resting upon him. Robertson and A. G. Cunningham were elected to the more and Ohio Railroad; and the New Yor Concerning the injurious effects of alcoholic vacancies. R. Koehler will act as manager for the and Chicago Railroad Company, running liquors there can be no question, and the evils present. mouth of the Mahoning river, in Lawrened from their use to which railroad men are pecu- At the recent annual meeting of the Ashuelot Pittsburg, a distance of 45 miles. A M liarly liable are pointedly spoken of as follows Railroad Company, the following officers and direct-also recorded of the Pittsburg and Weste by the surgeon of the Denver and Rio Grande ors were re elected for the ensuing year: A. B. Har- Company of Pennsylvania with the Pi Railway: "The continued or the excessive ris, president; E. F. Lane, Treasurer; F. F. Lane, Western Railroad Company of West Vi clerk; Oscar Edwards, James A. Rumrill, Tilly Haynes Janes H. Hopkins as president. periodical use of malt or alcoholic liquors and Henry Colony. Seth Hunt was also re-elected should be abstained from by every one engaged assistant treasurer, and George E. Frink auditor. in operating the road, not only on account of The office of the company is at Keene, N. H. the great risks of life and property incurred by At a meeting of the Board of Directors of the Pittsintrusting them to the oversight of those burg, Cincinnati and St. Louis Railway Company, whose intellects may be dulled at times when held on the 13th inst., the following officers were most care is needed, but also, and essentially, elected, G. B. Roberts, presilent; J. N. McCullough, first vice president; William Thaw, second vice presibecause habitual drinking has a very bad effect dent; Thomas D, Messler, third vice president and upon the constitution, which is a serious mat- controller; S. B. Liggett, secretary; Stephen W. ter to men so liable to injury as railroad em- White, assistant secretary; M. C. Spencer, treasurer. ployees are. It so lessens the recuperative The board of directors of the Joplin and Galena the counties of Lake, Newton, Benton powers of the body that simple wounds are Railroad Company of Missouri at its recent meeting In Newton and Benton counties the large followed by the most serious and dangerous elected the following officers: C. W. Rogers, presi-grading is done. complications. Fractures unite slowly, if at all, and wounds of a grave nature, such as those requiring the loss of limb, are almost sure to end fatally. No employee can afford to take such risks, and the railway company can not assume such responsibilities." Organization. At the recent annual meeting of the dir Indiana and Chicago Railway Company, company's office in Goodland, Newton C for the purpose of organization, the follo were chosen for the ensuing year, viz: ter, president; George Hardy, vice-pres mon C. Spoor, treasurer, and Z. F. Litt This contemplated line of road runs from Attila, thence south to Brazil, Clay Coun will be of importance to the country thro runs as well as Chicago. The line is lo dent; John O'Day, vice president; T. W. Lillie, At a meeting in Louisville, Ky., on th secretary and treasurer; A. Douglass, assistant of the stockholders of the Pullman S secretary. The contract was ratified for the building Company, the following board of directo of the line from Joplin to Galena, Faulkner, Diffen-ed: George M. Pullman, George F. Brow Trains are to be duffer & Co. being the contractors. running inside of sixty days. Davie, Chicago; R. B. Bullock, Atlanta Nashville; A. M. Quarrier, E. D. S and The directors of the Petroleum Exchange, in this Hite and W. F. Harris, Louisville. The city, recently elected, are: Josiah Lombard, Living-ed George M. Pullman president, Geor ston Roe, C. Trube, Nicholas Mehlen, Daniel Goettel vice president, W. C. Hite second vice William S. Conner has been elected president, H. Robbins, G. W. Stahl, George H. Lincoln, D. R. H. Davie general accountant, A. S. Samuel T. Miller secretary, and Edward H. Green Offley, George F. Gregory, William Jay Ives and E. secretary and Thomas Hayes general su superintendent, of the Delaware Shore Railroad Schalk. The officers are: President L. H. Smith, For the year ending March 31 the gr Company. first vice-president W. W. Miller, second vice-president were $236,079; expenses, &c., $112,344; The following gentlemen have been elected trus-C. F. Ackerman, secretary J. F. Hughes, treasurer $123,735. tees of the Olsen Gold Mining Company: Milton S. Henry M. Curtis. Latham, Wm. M. Lent, J. M. Alexander, L. M. Jones, Thos. Bell, T. F. James and Jno. Turnbull. The Bradford, Eldred and Cuba Railroad Company filed articles of incorporation at Albany on the 11th inst., capital, $500,000. The road is to be entirely in Allegany County. The Texas Western Railway Company on the 12th At the annual meeting of the stockholders of the Cheshire Railroad Company, held at Keene, N. H., on the 11th inst., the following directors were chosen: William A. Russell, E. Murdock, jr., Samuel Gould George F. Williams, John B. Moer, Edward C. Thayer, James H. Williams. The net earnings of the road for the year were $64.671. The management continues to substitute new steel rails, and the road Articles of incorporation of the follo Companies have been filed in the office o clerk of New York County: The Nort Consolidated Silver Mining Company; $500,000, divided into 250,000 shares trustees, Abel D. Breed and six other cinnati Consolidated Mining Company; $500,000, divided into 250,000 shares inst., filed amendments to its charter, the principal is nearly equipped with them. New engines are trustees, Abel D. Breed and six others. amendment providing for the construction of a lino from Houston to Galveston. The Rockaway Beach (N. Y.) Transit Company has filed articles of incorporation, capital $100,000, the road running on both sides of the beach to the hotel of the Rockaway Beach Improvement Company. and four others. boldt Queen Gold and Silver Mining rapidly replacing the old ones. Nevada; capital stock, $2,000,000, divid At the annual meeting of the Lake Shore and 000 shares of $10 each; trustees James Michigan Southern Railway Company, held at Cleve-four others. The Golden Rule Consolid land, Ohio, on the 4th inst., the following gentlemen Company. Capital stock, $200,000, were re-elected directors for the ensuing year: Wil- 200,000 shares of $1 each. Trustees, Me liam H. Vanderbilt, Augustus Schell, Samuel F. Barger, Cornelius Vanderbilt, William K. Vanderbilt, Articles of association of the Louisville, New Al-John E. Burrill, Darius 0. Mills, New York; Henry bany and Corydon Railroad Company were filed with the Secretary of State of Indiana on the 14th inst. The capital stock is $100,000, and the directors are: Bennett H. Young, St. John Boyle Charles Goodshaw, George Lyman, S. M. Stockslager, Thomas McGrain and Samuel J. Wright. The Secretary of State of Illinois B. Payne, Amasa Stone, Cleveland; Albert Keep, Andrew Crawford, Joseph T. Torrene Chicago; William L. Scott, Charles M. Reed, Erie; Lawyer, Arthur N. Sullivan and John Rasselas Brown, Warren, Pa. All the old officers Chicago to organize the Chicago and were re-elected. diana Belt Railway company of Chicago, The stockholders of the Delaware and Hudson tal of $500,000. The object is to constra Canal Company held their annual meeting on the from a point on or near the east line of At a meeting of the stockholders of the California 10th inst., and elected the following gentlomen as a Hyde Park to a point on or near the eas Southern Railroad Company, at San Diego. Cal., on board of managers for the ensuing year: A. A. Low, town of Lake View, connecting with a the 3d inst., Thomas Nickerson, Thomas L. Rogers, James M. Halstead Le Grand B. Cannon, Thomas roads leading into Chicago, with one or m M. A. Lull, Joseph G. Osgood and J. S. Gordon were Cornell, Robert S. Hone, James R. Taylor, Thomas and tracks to connect with warehonges elected directors. The officers are: President, Thomas Dickson, John Jacob Astor, James Roosevelt, Adol- docks, stock-yards, mills, manufacturing Nickerson; vice president, Thos. L. Rogers; Secreta-phus Hamilton, Abraham R. Van Nest, Hugh J.ments, along or near its route, all in Cook ry, G. N. Weaver; Treasurer, S. W. Reynolds; attor- Jewett, and David Dows. Mr. Jewett takes the place the transaction of a general transportatio board of directors are the above named transportation on the Long Island Railroad, is men- |clared a dividend of 1 per cent, payable June 10. tioned as his probable successor. The last dividend was in August, 1876, when 4 per llowing directors of the companies named Among the prominent railroad men who arrived in cent was paid. Ently elected in Philadelphia: Sunbury, the city early in the week were Joseph Hickson, The stockholders of the Georgia Railroad Company, and Wilksbarre-President, J. N. Dubarry; general manager of the Grand Trunk Railway of in convention at Augusta, Ga., on the 11th inst., D. B. Cummins, Wistar Morris Henry M. Canada, P. L. Cable, president of the Rock Island, ratified the lease to Wm. M. Wadley and instructed J. B. Roberts, Edmund Smith, John Price and Peoria Railway Co., Wm. W. Wadloy, president the directors to pay $3 50 dividend on July 15 and Shomokin Valley and Pottsville-Presi-of the Central Railroad of Georgia, and Robert Gar- $2 50 in October. Afterwards $2 50 per share will rett of the Baltimore and Ohio. be paid quarterly, making 10 per cent yearly. ge B. Roberts; managers, Wistar Morris, arry, Jacob P. Jones, A. J. Cassett, Edh, John P. Green. Tyrone and Clearfield J. N. Dubarry; directors, Wistar Morris, Kneass, Henry M. Phillips, G. B Roberts, tridge, Edmund Smith. The Brandywine esburg-President, John Curnog; directors, rry, Edmund Smith, G. B. Roberts, S. M. P. Shortridge, Wistar Morris, S. Kneass, The earnings of the Indiana, Bloomington and Western Railway for the month of April, were $103,554 88; corresponding month last year, $90,375 00; increase, $13,179 88. The Denver and Rio Grande Railway earnings reported are. first week of May $111,673, corresponding week last year, $39,329 00; second week of May $115,258, corresponding week last year, $11,958; miles now operated 690, operated last year 337. * Horton, J. M. Sloob, B. F. Kinzer, James The Ohio State Journal rays: "President Eells of Amos Diller. The Chartiers Railway Com-the Ohio Central railroad, announces that hereafter sident, G. B. Roberts; directors, S. M. Fel-no Sunday excursion trains will be run on that road nder Biddle, N. P. Shortridge, Wistar Mor-so long as it remains under the present management. land Kneass and J. N. Dubarry. The The Great Western Railway of Canada earnings Mr. Eells says on behalf of the managers: We think and State Line-President, Strickland all laboring men should have one day in seven for for week ending May 6, $107,690; corresponding rest and worship, and are disposed to accord this to week last year, $87,412; increase, $20,278. The indirectors, G. B. Roberts, Edward Smith, crease of earnings from Jan. 1 to May 6 over cororris, Eli Slifer, James P. Cohen and S. c. all our employes as far as possible.' ” Catawissa Railroad-President, M. P. HutA. A. Gaddis, who has been the general manager responding period last year amounts to $159,401. directors, I. V. Williamson, F. K. Shipper, of the Boston Hoosac Tunnel and Western Railway The Chicago and Grand Trunk Railway earnings Teaver, George C. Carson, Joseph C. Harris, since the line was extended from the Hoosac Tun- for week ending May 7, 818,715; corresponding week Graham. Elmira and Williamsport-Presi-nel to the Hudson River, has resigned that position, last year, $14,897; increase, $3,818; aggregate inmus Neilson; managers, Thomas Kimber, to devote his entire time to the Ogdensburg and crease for 18 weeks this year over corresponding Bead Fisher, Lewis P. Geiger, Thomas K. Lake Champlain railroad, with which he has been period last year, $105,720. th, Alexander Bacon, William D. Neilson. connected for some time. The Boston Journal says: Mr. Gaddis, who is also general manager of the Ogdensburg and Lake Champlain Railroad, has only Personal. .T. Sprague, of Brandon, Vt., has been electident of the New York and Brooklyn Elevated Co., succeeding Daniel D. Badger, recently ➡ppraisers of the estate of the late Mark Hopf the Central Pacific Railroad, have filed their in San Francisco, placing the valuation of perty at $20,700,000. Interest and Dividends. The Pullman Palace Car Company has declared a quarterly dividend of 2 per cent, payable May 16. The Ashuelot Railroad Company has declared its regular quarterly dividend of 1 per cent, payable July 1. The Middlesex Railroad Company has declared a eval Lowell, assistant general manager of the The Iowa Falls and Sioux City Railroad Company H. Jones, president of the Buffalo, Pittsburg June 1. Coupons of the mortgage bonds of the New York, after making a tour of inspection over the Lake Erie and Western Railroad Company, due June of that road. It is expected that the ex-1, 1881, will be paid on presentation on and after that will be completed early in August. date at the Treasurer's office, 2! Courtlandt street. F. Tilden has been appointed joint ticket agent The Northern (N. H.) Railroad Company has e dianapolis of the Pittsburgh, Cincinnati and clared a dividend of $3 per share, payable June 1, The earnings of the St. Paul, Minneapolis and Manitoba Railway for the week ending May 7, were $81,941 94 an increase of $24,267 19 over corresponding week last year. From Jan. 1 to May 7 the earnings were: $1,242,259 07; corresponding period last year, $970,369 85; increase, $271,889 22. for week ending May 7, $36,705 70; corresponding The Flint and Pere Marquette Railroad earnings week last year, $28,881 10; increase, $7,844 GO. From Jan. 1 to May 7 the earsings were, $620,076 50 as compared with $534,630 90, for corresponding period last year. Manufacturing. C. Shaler Smith, of the Baltimore Bridge Company, is finishing ten spans of iron bridge on the Atchison, Topeka and Santa Fe Railway and twelve spans on the Gulf, Colorado and Santa Fe Railroad. He is also putting in two large viaducts on the Gunnison extension of the Denver and Rio Grande Railway. The works recently opened by the Allen Paper Car Wheel Company at Pullman, near Chicago, will have a capacity of nearly double that of their works at Hudson. The present capacity of both works running a double time is about 30,000 wheels per year. Four years ago but 74 paper car wheels were made in this country; the production of this company at Hudson for the month of April amounted to about $70,000 worth of wheels. Removals. Paine, Webber and Co., bankers and brokers, Bos Leais, Indianapolis and Vincennes, Terre Haute 1881, at Boston, Concord and Lebanon, to stockholton, have removed from 48 Congress street to 53 Indianapolis Railroads, in place of J. H. Smithers of record May 13th. igued. Devenshire street, that city. D. M. Babcock, of Philadelphia, delivered an ad- has declared a quarterly dividend of 14 per cent, to They are located in the Western Union Telegraph and an exposure of the alleged mismanage end of the company baving it in charge. were opened Monday morning. The Washington (D. C.) Belt Line Railroad has Wam E. Downie has resigned the position of per cent of the amount retained for contingent fund), made its connection between its Virginia Avenue erintendent of the Brooklyn, Flatbush and Coney payable on the 25th instant. Line and its Eleventh Street Line, and that por Laland Railroad. J. L. Morrow, former master of The Delaware and Hudson Canal Company has de- tion of the road is now ready for the cars. Mexican Raliroads. Ross & Co., Bartholomew-lace, London, Eng-¡000,000 shall have been presented will not be land. taiued. The Chicago Inter-Ocean has received a letter The request above mentioned should be in form from its correspondent who accompanied Gen. substantially as herewith prescribed, and upon An Important Southern Railroad Syn Grant to Mexico, in which it is announced that the surrender of the bonds with such request, the General has secured the railroad concession the Secretary of the Treasury will return to the The organization of one of the largest which he went there to obtain from the Mexican owners registered bonds of the same loan with cales over found in this country for the p the fact that such bonds are continued during the of railroad interests was announced in th Government. The letter says that the contract pleasure of the Government with interest at the sought by the General in behalf of his company rate of 8% per cent per annum stamped upon Monday. The scheme is described as em has been thoroughly canvassed by the Govern them in accordance with this notice. Upon the the establishment of a system from the No ment, and its acceptance practically determined receipt of bonds to be continued as above pro-and Southwest to the Atlantic coast by vided, the interest thereon to Aug. 12, 1881, will chase of existing lines and the building on; and as soon as certain necessary formalities be prepaid at the rate the bonds now bear. Regare complied with, final action will be taken in istered bonds to be continued should be assigned roads. It is said that the syndicate has sub accordance therewith. Gen. Graut never was to "The Secretary of the Treasury, for cortinu. $16,000,000 of capital and that purchas more popular than now. A telegram of welcome ance" under the provisions of this circular they already bean concluded of the Macon and will be accepted for that purpose in the order of wick road of Georgia, the East Tennes from the Mexican President awaited his arrival at their receipt at the department. Vera Cruz. Ex-Senator Chaffee and U. 8. Grant, Jr., are now on their way to the United States. The engineers sent out by Capt. Eads some months since to make a survey for the proposed marine railway across the Isthmus of Tehuante-ed for payment or to be continued, should be eral bundred miles will at once, it is said pec, have discovered two practicable routes, one forwarded to the "Secretary of the Treasury and the various systems connected, Co by way of Tarifa Pass and the other by Chioela, ting forth the purpose for which they are trans- chase and building for the extension. Loan Division," with a letter of transmission, set- Cole, of Tennessee, to have charge of not only practicable, but both of them more favor-mitted, and if to be continued they must also be able for the construction of the road than had accompanied by the request above referred to, been anticipated. The Captain has been given and the package containing the bonds should be marked "Bonds for continuance." the contract of designing a system of improveWILLIAM WINDOм, Secretary. ments of the Harbor of Vera Cruz, and is already busily engaged in preparing plans for that work, and the additional legislation sought by bim on the subject of bis Interoceanic ship railway is already in an advanced stage and everywhere regarded as certain to be duly accomplished. Cent Bonds. The Secretary of the Treasury issued on the 12th inst. the following circular calling in for redemption, or for continuance at 8% per cent interest, all the coupon five per cent bonds, and $250,000,000 of the registered bonds-the remain der of the loan being reserved with a view to its payment from the surplus revenues: The department will pay no expense of trans- Virginia system of roads, embracing 61 portation on bonds received under the provisions the Selma, Rome and Dalton and the of this circalar, but the bonds returned will be and Charleston roads, covering in all a sent by prepaid registered mail, unless the own-300 miles. Contracts for the constraction ers otherwise direct. All bonds, whether intend The following is the form of request for con tinuance of bonds: Ashuelot Railroad. The annual statement of this company up to April 2, 1881, shows the amount rec rent for the use of the road to have be 717; interest received, $1,729-making a To the Secretary of the Treasury : $16,446 for the year. This is an increas 162 over the earnings of the precedin Under the terms of the circular No. is- Against this is charged taxes, $1,792; sued by the Secretary of the Treasury May 12, salaries and expenses, $555; fɔur quar 1881, the undersigned, owner of the below [Date.] lows: Construction..... ASSETS. Redemption or Continuance of Five Per described United States 5 per centum bond-,idends of 1% per cent each, $12,600; issued under the acts of July 14, 1870, and Jan. carried to contingent fand, $922, leavin 20, 1871, hereby request that payment to ance of $576 to be carried to profit and be deterred and that be continued during treasurer's balance sheet of March 31 the pleosure of the Government to bear interest at the rate of 8% per cent per annum from Aug. 12, 1881, as provided in said circular, and in consideration of the premises, bereby waive and release all rights to or claim for any interest on said bonds in excess of 3% per centum per annum on and after said date of Aug. 12, 1881, and in witness thereof have hereunto set and seal this day. [Here describe the bonds, stating whether registered of coupon, denomination, serial numbers, and amounts.] band - $21 Due from Connecticut River Railroad Company... ..... .... Due from other companies.. Total .... LIABILITIES. ....... $24 1 ....$21 Capital stock. .... Total ........ .................. 1 1 ...$24 Philadelphia and Reading Compa Gearge M. Dallas, Spesial Master of th delphia and Reading Railroad Company, TREASURY Department, WASHINGTON, D. C., May 12, 1881. By virtue of the authority conferred by law upon the Secretary of the Treasury, notice is hereby given that the principal and accrued in[Seal] terest of the 5 per cent coupon bonds, issued Signature and post office address.] under the acts of July 14, 1870, and Jan. 20, [NOTE.-The seal should be of wafer or was 1871, and Low outstanding and uncalled, will be if not executed by a corporation. In case the paid at the Treasury of the United States, in the above request is signed by an officer of a bank or city of Washington, D. C., on the 12th day of Au- other corporation, it should be accompanied by gust, 1881; and that the interest on said bonds the proper authority, certified by some officer of will cease on that day, and none of these bonds the institution other than the one empowered to will hereafter be exchanged for registered bonds act. If the bords are presented at the London! bearing 5 per cent interest; provided, however, agency the forms of request for their continuance that in case any of the holders of the said coupon must be executed in duplicate. The form of rebonds shall request to have their bonds continued quest prepared in blank for use will be furnished during the pleasure of the Government, with in terest at the rate of 3% per cent per annum, in pon application to the Secretary of the Treas ury.] lieu of their payment at the date above specified, such request will be granted, if the bonds are re- The amount of the coupon bonds above referceived by the Secretary of the Treasury for that red to which are now outstarding and covered purpose on or before the 1st day of July, 1881. The Secretary also announces that, until the by the call is about $120,000,000. The amount report covers the month of March, and date mentioned, July 1, 1881, he will receive for ot the registered 5 per cent bonds is about $325,- that the balance in band, as indicated continuance, in like manner, subject to the like 000,000. The privilege of extending registered statements of the railroad company, was conditions, any of the uncalled 6 per cent regis-5 per cents at the reduced rate of interest being 82. The receipts from travel, freight, ca tered bonds of the acts of July 14, 1870, and Jan. 20, 1871, to an amount not exceeding $250,000,- limited to $250,000,000, there will remain at least &c., during the month amounted to $2 000, the remainder of the loan being reserved $75,000,000 which the Secretary of the Treasury 62; miscellaneous receipts, $48.902 66; with a view of its payment from the surplus rev- intends to pay absolutely out of the surplus real estate sold, &c., $334,984 05; total n enues. Foreign holders of any of the 5 per cent revenues. It is believed at the department that $2.607,911 05. Payments, $2,184,812 25, as above provided upon the receipt of the bonds much more than $250,000,000 of these registered a balance on hand April 1, of $513,099 40 at the Government Agency established for that bonds will be offered for continuance, but all ap- balance on hand by the Coal and Iron Co purpose at the hanking house of Messrs. Morton, 'plications received after the maximum of $250,- for the month at the close of February wa bonds above described may have them continued big tenth audit of the accounts of the and the Coal and Iron Company in the office of the United States Cirenit Con 7. Receipts during the month, $1,069,700 that the Sinking Fund Commissioner, who must, lembracing cvor seven hundred square miles of ayments, $1,092,040 87. Balance on band according to law, pass upon this action of the territory. The stockholders at their recent meet1, $29,657 20. Trustees, will pass upon it promptly. Publicing elected the following board of directors : opinion is strong for speedy, definite action on Joseph S. Miller and H. J. Samuels, of West Virthis matter. York, Lake Erie and Western R. R. gross earnings, working expenses and net gs of the New York, Lake Erie and Westilroad Company for the month of March, End 1881, is officially stated as follows: Grand Trunk Railway of Canada. ginia; H. D. Whitcomb, H. K. Ellyson, Otis H. Russell and H. C. Parsons, of Virginia; William Walter Phelps, of New Jersey; George M. BarThe Directors of the Grand Trunk Railway tholomew, of Connecticut; Cyras H McCormick, publish in England a monthly statement of the Jr. of Illinois; counsellor, Thomas Ewing, of gross receipts and expenses of the road, and the Ohio. Mr. H. C. Parsons, president of the Richearnings....$1,644,958 19 $1,847,261 44 following are the figures for the first three months mond and Alleghany Railroad Company, was 1,143,258 14 of this year, in comparison with the correspond-elected president of the new company. It is ing period in 1880; $704,003 30 ing an increase in gross earnings of $202, 1880. g expenses. 902,026 98 1881. earnings.. $742,931 21 1881. Gross receipta : £ 8. d. with au increase in working expenses of January..........164,259 4 11 31 16, making a decrease in the net earnFebruary.. .158,295 4 1 March .....191,718 18 0 $38,927 91. ........ 1880. claimed that this line furnishes a favorable route £ s. d. to the Ohio, and will develop a mineral district 162,243 1 7 rich beyond comparison. 153,898 9 10 180,369 18 2 Great Western Railway of Canada. The gross receipts, working expenses and net earnings of the Great Western Railway Company 119,835 44 of Canada for the month of March, 1880, (exclud 112,054 19 8 ing leased lines) were as follows: 121,187 11 Total.... .514,273 7 0 496,006 4 7 ........ ......... .... ...... 126,863 13 2 .120,066 4 0 .129,180 16 5 Total. ..277,010 13 7 ........ 4 1881. 1880. Gross receipts .......£91,315 Working expenses, including £84,164 48,452 £35,712 Net earnings. 137,262 13 5 142,978 0 3 Decreased net earnings, three months, £5,715 12. 10d; this is equal to $27,816 85. From this statement it will be observed that receipts, the working expenses, including wages, It is stated that the employees have been large Norfolk and Western Railroad. The following is a comparative statement of 1880 and 1881 : w Jersey....... 274,112 10 Var, Lackawanna I Western R. R.. 286,483 13 rare and Hudson 1879-'80. $138,223 91 134,955 44 177,342 34 200,307 63 156,870 02 $1,528,371 60 Grand total...$1,671,471 17 Increase in favor of 1881......... .......... * Estimated. transfers to reserve funds... 57,616 Net........ -showing an increase in gross receipts of £7,151, with an increase in working expenses £9,164, making a decrease in net earnings of £2,103. The aggregate for two inorths ending with March, was as follows: The Pennsylvania Railroad engineers have located a line from Latrobe to Mount Pleasant, in Westmoreland county, Penn, They will also 1880-'81. locate a low-grade division of the Western Penn$145,585 33 sylvania Railroad from Bolivar, on the main line 179,946 95 of the Pennsylvania Railroad, to the junction of 209,446 21 the Western Pennsylvania and the Allegheny 235,909 95 209,946 81 Valley Railroads. 181,745 72 164,916 62 The managers of the Grand Trunk Railway of 153,638 05 Canada have purchased the Grand Junction Rail195,650 42 way from Belleville to Madoc and from West Hac$1,675,881 07 tingdon to Peterborough, with a view, it is said, *173,000 00 to prevent the Ontario and Quebec Railway Company getting the use of it while the latter road is $1,848,881 07 in progress. $177,409 90 Cincinnati Southern Railroad. The Trustees of the Cincinnati Southern Railpassed on the 14th inst, a resolution to ad ise for proposals at once for the lease of the for 25 years. Bidders are requested to bid each of three plans. First-gross earnings; At a meeting of the Guyandotte and Ohio River and-rectal plan, under which the rental is to Railroad and Mineral Company, recently held at Fa specific rental, scaled for different years; Barboursville, W. Va., the name of the company Atlantic and Northwestern Railroad. The State Department at Harrisburg, Pennsylvania has granted a charter to the Tionesta Rail. way Company with a capital stock of $800,000. The road is to be run from Tionesta to Sheffield, Warren county, a distance of 85 miles. The President is J. W. Jones, President of the Buird-guarantee plan, under which the lessee is was changed to the Atlantic and Northwestern falo, Pittsburgh and Western Railway. cured in a certain per cent on his investment Railroad Company, and an act of the Legislature al pays the city the remainder. Proposals are of West Virginia extending the scope of the char- The directors of the Cincinnati, Hamilton and warded for the parcbase as well as for the ter was accepted. This company now has the Dayton, and of the Cleveland, Columbus, Cincinbig, 18, bread. The bids are to be opened right to build from the Virginis line along New nati and Indianapolis Railroads bave agreed upon pablished in the Cincinnati papers, in papers in to Wheeling. It has also the right to obtain the panies will be rated at par in the new company. 1981 Advertisements for proposals will be and Guyandote rivers to the Ohio, aud to extend terms of consolidation. The shares of both com ia London, Paris and Frankfort, It is believed an enormous area of mineral and timber lands, holders. ilable, ceatres in the East, also in papers control of any connecting railroad. It coxtrole The proposition will be submitted to the stock |
