COST OF ROAD AND EQUIPMENT $4,031,582: in detail as follows: Year. COST, EARNINGS, EXPENSES, ETC., YEARLY. Cost of Mile-Gross Earnings--Road, age. Pass'rs. Freight. Mails. 1855-'56... $3,464,454 78.00 $75,024 $183,253 $16,278 1856-'57. 3,464,454 78.00 75,024 183,253 16,278 1857-'58... 3,859,195 78.00 64,449 145,467 18,603 1858-'59... 61788 112,741 17,441 4,031,582 78.00 1859-'60... 61.788 112,741 17,441 4,031,582 78.00 5 years Operating Net Total. Expenses. Earn's. Div.$274,555 $117,095 $157,460 nil. nil. 274,555 117,095 157,460 228,519 108,452 120,067 191,970 95,662 96,308 191,970 95,662 96,308 66 66 ། $13,853,264 390.00 $338,073 8737,455 $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 reorganization, based on a capital of $2,000,000, as follows: New Mortgage, 7 per cent., bonds, (in exchange for old bonds) dated 1st May, 1960, 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.. 2d. For 2d mortgage bonds $700,000 (one-half). Common stock issued 1st. For unsecured debt.. 24. For old common stock (one fifth)·· 3d. For mortgage coupons...... .$150,000 350,000- 500 000 .$100,000 300,000 100,000- 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..... Second track. including sidings, turnouts, etc., about 2 miles. 13 miles. 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 Company 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 floating 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, 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 Baltimore. These bonds were issued for debt to the late Baltimore and Susquehanna 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-$400,046. INCOME ACCOUNT FOR THE YEAR ENDING 31ST DECEMBER, 1859. Receipts Disbursements- Accounted for to 30th Sept., 1859.......$20,501 Freight. Jan-Sept. Oct.-Dec. Passengers.... $7,266 $2.523 12,747 Total. $9.819 Under new contract 1,485 477 Total.. -$27,177 Total... . $27,177 Dr. GENERAL STATEMENT, 1ST JANUARY, 1860. Cost of road and real estate, etc....... $400,046 Share capital. Cr. $317,050 --Div-- $ p.c COST, EARNINGS, EXPENSES, ETC., YEARLY. (Under the contract of 21st June, 1854.) Cost of Mile---- -Gross Earnings-- Oper'g Earn'gs, Int. Paid to Year. Road, etc. age. Pass'r. Freight. Mails. Total. exp. less exp. on d'bt. S. F. 1955 $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 10,281 25,375 650 36,206 14,393 21,813 8,141 6,341 6,341 2.00 9,744 19,551 650 29,945 14,000 15,945 7,086 6,975 6,975 2.20 9,534 16,972 650 27,156 14,000 13,156 7,435 7,926 7,926 2.50 1857.. 405,751 13.00 1858.. 396,046 13.00 1859. 400,046 13.00 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 19,401 7,622 6,404 6,404 2.02 YORK AND CUMBERLAND 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 Central Railroad Company. On the 30th September, 1854, its general account was as follows: 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 Camberland 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 consolidation in 1854 its value was estimated in stock at $1,060,000.-(See Northern Central Railroad.) LAWS OF THE STATE IN REFERENCE TO RAILROADS. List of all the Railroad Companies chartered in the State of Pennsylvania, 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. 1859, p. 254 1853, p. 844 1853, p. 610 ALLENTOWN แ *ATHENS & ITHACA 46 ATLANTIC & GREAT WESTERN *ATTLEBOROUGH • • • • • • • • *AUBURN & PORT CLINTON.· *BALD EAGLE & NETTANY VALLEY 66 Supplement to act of incorporation, March 26 Repeals part of act of incorporation, April 20 Time for completing road extended, Feb. 27. Authorized to receive toll, July 8. 1853, p. 510 Time for commencing work extended, Apl. 18. BALTIMORE & SUSQUEHANNA, MD. 1839, p. 642 Authorized to make a loan to Wrightsville, 1845, p. 216 Supplement to act incorporating, March 27 1849, p. 185 Supplement to act of incorporation, March 29. 1853, p. 186 Supplement to act of incorporation, March 15. 5 1858, p. 800 1839, p. 384 1845, p. 438 1846, p. 346 1850, p. 614 1840, p. 1859, p. 611 72 1856, p. 152 1857, p. 509 1857, p. 628 1859, p. 115 1857, p 596 1853, p. 493 1854, p. 105 1851, p. 429 1852, p 326 CATAWISSA, WILLIAMSPORT & ERIE 1850, p. 614 1853, p. 609 1853, p. 285 1853, p. 101 1856, p. 237 1836, p. 462 1852, p. 35 1859, p. 525 Laws of 1859, act of incorporation, Meh. 19. Name changed from Allegheny and Bald Authorized to extend road, April 14. Supplement to act incorporating, April 13. Supplement to act of incorporation, Mch. 13. Authorized to hold lands, May 14. Milton RR. may subscribe stock, April 20. Supplement to act of incorporation, Feb. 6. Supplement to act of incorporation, March 21. 1854, p. 688 Laws of 1855, act of incorporation, April 20. 1853, p. 272 Act of incorporation, April 2. 1858, p. 399 Act of incorporation, April 21. 1853, p 20 Relative to its bonds, January 28. 1853, p. 200 1854, p. 366 1855, p. 533 1857, p. 619 Act of incorporation, March 17. Relative to preferred stock, March 13. Relative to preferred stock, February 27. 1859, p. 20 Name re-changed to Franklin RR., Feb. 2. -- 1853, p. 1855, p. 262 1857, p. 63 CHARTIERS VALLEY & HEMPFIELD. 1859, p. 490 *CHESTER CREEK... *CHESTER & DELAWARE COUNTY.. CHESTNUT HILL. 1853, p. 42 Act of incorporation, February 7. 1850, p. 806 1848, p. 785 Laws of 1852, act of incorporation, April 10. 66 ........ 1859, p. 371 CHESTER, LEIPERVILLE & DARBY. 1859, p. 697 Supplement to act of incorporation, April 5. Act of incorporation, April 12. |