Page images
PDF
EPUB

RAILROADS OF THE STATE IN DETAIL.

ALLEGHANY PORTAGE RAILROAD.

(See Public Works of Pennsylvania.)

[ocr errors]

66

ALLEGHANY VALLEY RAILROAD.

(Financiai 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. LENGTU OF ROAD–Pittsburg to Kittaning.

45 miles. Second track, including sidings, etc., 54 miles. Rolling STOCK_Locomotive engines...

4 Cars:—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 construction was commenced. On the 230 April the city of Pittsburg subscribed 8,000 shares of the capital stock of the Company. In addition to the subscription of Pittsburg, Alleghany county subscribed 15,000 shares, Arinstrong county 3,000 shares, and Jefferson county 1,800 shares—making in ::]] 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 completed and opened for public use on the 230 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 byCorporations.. .81,693,000 Corporations..

. $1,300,000 Individuals. 380,000 | Individuais.

360,000 By an act approved 230 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 applied 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-8400,000: described as follows1st Mortgage, 7 per cent., coupon bonds

-$100,000 -dated 1st July, 1855, and payable, principal in 20 years, and coupons semiannually, 1st Jan. and 1st July, at Pittsburg and Philadelphia.

Amount

Interest

6

not

The municipal bonds, guaranteed by the Company, are as follows:
Amount
Municipalities Rate Date of Date of

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,

1853 1873 Nov. and May, New York City 150,000

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 | Equipment.....

...865,300 INCOME ACCOUNT FOR TILE YEAR ENDING 31st JANUARY, 1860. Receipts

Disbursements-
Passenger earnings..

$52,654
Cash overdrawn 1st February, 1859..

891 Freight

31,311
Repairs and operations.

33,582 Mail

3,150
Extraordinary repairs........

7.229 Extension to Canal.

7,067 $97,115 Interest on funded debt..

15,231 Not collected..

5,046
Interest and discount on notes

2,491 Company's notes, 1859.

7,014 Receipts from earnings. - 82,069 | Salaries of officers.

3,614 Premium on silver.. 12 Miscellaneous.

5,260 Balance overdrawn...

338

66

Total
882.419 Total....

• $32,419 BALANCE SHEET OF Account CURRENT, 1st FEBRUARY, 1860. Dr.

Cr. Office and incidental expenses...: $1,064 Balance due..

813,098 Printing, stationery and advertising... 1,497 | Rent of outer depot grounds.

1,154 Taxes, 1859.. 424 Sularies 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.

3,253 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, fireinen, etc.... 6,985 Sale of 10 Mortgage bonds

5,000 Fuel: wood $1,731, and coal $176.... 5.207 Cash overdrawn..

338 Agents, clerks, warehousemen, etc... 3,976 1 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 | Alloghany Valley Railroad....

7,310 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.. •8210,087 Total

• $210,057 Cost, Earnings, Expenses, ETC., Yearly. Cost of Mile

Gross Earnings

Operating Earnings, --Diven Year. Road, etc. age. Passier. Freight. Mails, etc. Total expenses. less exp.

p.c. 1856..81,715,000 $18.484 $23,091 $1,575 $73,150 $36,575 $36,575 nil. nil. 1857.. 1,725,000

54,871 26,040 3,150 84.061 42,031 42,030 1553.. 1,750,000

50,009 21,698 3,150 74.917 37,459 37,458 1859.. 1,765,300 45 52 054 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 51,519 25,535 2.756 79,510 40,955 33,825

66

[ocr errors]

66

[ocr errors]

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 Philadelphia and Reading Railroad, between Reading and Port Clinton. Tho 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 $237,810 ; 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, 8304,118; 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 CARITAL-Authorized, $600,000, in 12,000 $50 shares.

Paid in, . $582,700, in 11,654

FUNDED DEBT_$150,000: classified as follows1st Mortgage, 7 per cent., bonds.

-$150,000 -dated 1st March, 1856, and payable, principal 1st March, 1866, and interest 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 interest semi-annually 1st March, and 1st September, at Philadelphia.

Cost of ROAD AND EQUIPMENT--$261,609: as followsRoad and appurtenances.. ..$217,406 | 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

[ocr errors]

66

66

[ocr errors]
[ocr errors]
[ocr errors]

ATLANTIC AND GREAT WESTERN RAILROAD.

(Financial year ending 1st January, 1860.)

BOARD OF DIRECTORS AND OFFICERS, 1860-61. G. Church

.Meadville, Pa. | Jolin McFarland... ..Meadville, Pa. J. S. Shryock.

L. D Williains. John Dick..

Marvin Kent.. .Franklin Mills, 0. Geo. A. Bittenbenner.

J. Coffenlerry.

.Cleveland, Jas. E. McFarland.

E. Chamberlain...

.. Akron, 0. 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 uniforin (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 follows1st Mortgage, 7 per 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.

cent., coupon

66

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 Cars :-passenger, 2; freight and baggage, 4; coal, 1001..

.1007 The Beaver Meadow Railroad Company was chartered in 1830. Its construction 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--totul $311,202. 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.

[ocr errors]

BELLEFONTE AND SNOW-SHOE RAILROAD. WILLIAM P. THOMAS, President.

.Bellefonte, Centre Co., Pa. LENGTH OF ROAD_Snow-Shoe Coal Mines to Bellefonte.....

18.23 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 Allegheny 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.

(See Franklin Railroad of Pennsylvania.)

CHARTIERS VALLEY RAILROAD. J. K. MOORHEAN, 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 Pittsburg 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 chietly by the subscriptions of the city of Pittsburg and Allegheny county

[ocr errors][merged small]
« PreviousContinue »