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Gross earnings—passenger, $884,288 51 ; freight, $1,353,795 28; express, $96,070 10; mail, $42,660 51 ; and other, $4,324 15—total, $2,381,138 55. Operating expenses, including taxes, $1,349,461 79. Nett revenue from operations, $1,031,676 76. Interest paid, $280,820 48; discount on consolidated mortgage bonds, $25,011 01. Surplus earnings, profit and loss, $725,845 27, from which were paid dividends Nos. 12 and 13, February and August, 3 and 4 p. c. respectively.

Statement of earnings, expenses, profits, etc., for eight years :

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Passenger..
Freight
Express..
Mails
Miscellaneous...
Gross earnings..
Operat'g expen's
Nett earnings...
Interest account.

362,547 849.388 1,980,574 2.730,775 1,513,725 877, 265 856,819 884,288
403, 231 831,659 1,110,106 1,311,342 1,426,890 1,152,477 1,215,703 1,353,795

27,531 66,468 101,944 121,829 121,793 83,543 90,586 96,070
29,075 30,328 27,750 37,500 43,659 40,025 40,025 42,661
564
140 41,316) 140,094

37,122

5,565

25,476 4,324 822, 998 1,777,983 3,261,690 4,314,540 3,143,189 2,158,875 2,228,609 2,381,138 314,407 715,818 1,457,737 2,142,025 1,551,134 1,348,404 1,309,515 1,349, 462 508,591 1,062,165 1,803,953 2,172,515 1,592,055 810,466 919,094 1,031,676

231,652 221,759 177,076 182,913 227,203 280,820 1,572,301 1,950,756 1,414,978) 627,556 691,891 750,856

Balance...

Earnings, expenses and profits per mile of road operated :

Miles operated..! 196.50 218.30 268.30 285.60 303.10 333.30 336.30 372.05 Earnings per m. $4,188 28 $8,144 69 $12,756 88 $15, 106 93 $10,370 14 $6,477 27 $6,626 85 $6,400 89 Expenses per m.

1,600 00 3,279 06 5,433 24 7,500 08 5,117 57 4,045 62 3,893 89 3,627 58 Profits per mile. 2,588 28 4,865 63 4,723 64 7,606 85 5,252 57 2,431 65 2,732 96 Expenses p. C...

2,773 31 38.20 40.29 44.69 49.64 49.35 62.46 58.76 56.67

General Balances.-Capital stock account, $8,780,501 46 ; bonded debt, $5,213,500 ; bills payable, $353,865 42 ; loans in New York, $412,203 88; bills and pay-rolls for June, etc., $235,221 23; back dividends and July, 1869, dividend, $469,487 18 ; contractors, etc., Lebanon Branch Extension, $47,324 59; profit and loss account, $1,868,468 09......

Total, $17,380,571 88. Per contra : Cost of road, etc., to June 30, 1869, $13,859,794 26; due from transportation department and U. S. Government, $118,061 34; consolidated mortgage bonds on hand, $1,736,000; sundry bonds, $120,767 99; Louisville bridge stock, $300,000 ; bank and RR. stock, $61,309 50 ; real estate, timber and quarry land, $37,185 90; individual notes and accounts, $29,680 90 ; M. C. & L. RR. Co., $95,151 70 ; Memphis Division, $102,780 66 ; M. &0. RR. Co., $421,912 12 ; shop and fuel stock, $393,753 57; cash on hand, $104,173 92.

Statement of balances for five years :

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Capital stock account.

$5,527,870 63 $5,490,106 48 $5,492, 638 56 $8,238,596 67 $8,780,501 46 Funded debt.

4,209,500 00 4,305,000 00 4,165,000 00 4,083,500 5,213,500 00 Other liabilities.

1,254,344 54 823,835 26 469,975 52 968,047 31 1,518,102 30 Profit and loss

2,527,215 76 3,685,607 58 3,939,285 17 1,996,818 14 1,868,468 09 Total liabilities.

$13,518,930 93 $14,304,549 32 $14,066,899 25 $15,286,962 12 $17,380,571 85 Cost of road, etc..

$10,208,645 97 $11,612,966 77 $11,973,374 54 $13,062,925 54 $13,859,794,26 Other property, stocks, bonds, etc 3,310,284 96 2,691,582 55 2,093,524 71 2,224,036 58 3,520,777 59 Total resources..

$13,518,930 93 $14,304,549 32 $14,066,899 25 $15,286,962 12 $17,380,571 85

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Main stem: 1st m. 7 p. c. bonds, dated

7 July 1, 1858, due Jan. 1, 1866-77... $2,000,000 $1,765,000 $1,656,000 $1,594,000 $1,515,000 $1,424,000 Main stem: Tenn. State 6 p. c. loan... 560,500 560,500 Main stem: Louisville 6 p. c. loan, due 1886-87.

1,000,000 1,000,000 912,000 849,000 849,000 849,000 Lebanon branch ; income 7 p. c. bonds 175,000 21,000 1,000 Lebanon branch: Louisville 6 p. c. loan, due 1886...

225,000 225,000 225,000 225,000 225,000 225,000 Memphis branch: 1st m. 7 p. c. bonds, due May 1, 1870 to 1875..

300,000 286,000 281,000 267,000 267,000 267,000 Bardstown branch: 1st m. 7 p. c. bonds, due Jan. 1, 1870..

30,000

30,000 30,000 27,500 27,500 Lebanon br. extension : 1st m. 7 p. c. bonds, due Nov, 16, 1880-85.

600,000

600,000 600,000 600,000 88,000 Lebanon br. extension: Louisville 6 p. c. loan, due Oct. 15, 1893...

600,000

600,000 600,000 600,000 333,000 Consol. 1st m. 7 p. c. bonds, dated April 1, 1868, and due April 1, 1898 8,000,000

2,000,000 Total..

$9,490,500 $4,209,500 $1,305,000 $1,165,000 $1,083,500 $5,213,500

Of the consolidated bonds of 1868, the sum of $2,500,000 is set apart to redeem the sectional bonds, and the remainder are to be issued for extending and improving the Company's property. Of the $2,000,000 already executed, $1,736,000 remain in the Company's hands and are accounted for, in the abstract of Balances above, under the head of property, stocks, bonds, etc.

Directors (elected October 6, 1869).-H. D. Newcomb, R. A. Robinson, George W. Norton, William H. Smith, John G. Baxter and W.B. Cardwell, Louisville, Ky.; James Whitworth, Nashville, Tenn. H. D. NEWCOMB-President....

Louisville, Ky. Treasurer-Charles R. Griffith..... Louisville, Ky. Chief Engineer-George MacLeod. Louisville, Ky. Secretary-Willis Ranney..

Supt. of Machny Thatcher Perkins Asst. Secretary-A. M. Quarrier.

and Purch. Agt. Gen. Supt.-Albert Fink..

Gen. Ticket Agt.-W. H. King...
Assistant Supts.
D.W.C. Rowland

Gen. Fgt. Agt.-M. H. Smith.
Rudolph Fink...

Cashier-Cushman Quarrier..
PRINCIPAL OFFICE AND ADDRESS.

.Bullitt St., Louisville, Ky.

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MEMPHIS, CLARKSVILLE AND LOUISVILLE RAILROAD.

(Operated under agreement of Feb. 17, 1868, by Louisville and Nashville RR. Co.)

Line of Road.--State Line of Kentucky to Paris (M. &0. RR.), Tenn..82.60 miles. Sidings and other track, 2.98 miles. Gauge, 5 feet Rail, 56 lbs. to yard.

Rolling Stock.-Locomotives, 12. Cars furnished by operating Company.
Operations for the year ending June 30, 1869 :
Trains run-passenger, 107,460 ; freight, 90,009; other, 35,895—total, 233,364 miles.
Cars run-passenger, 337,565 ; freight, 982,055; service, 247,300—1,566,920 miles.

Gross earnings-passenger, $144,605 50; freight, $151,257 24; express, $11,994 52 ; rents, etc., $130—total, 307,987 26. Operating expenses, $301,084 53 ; nett earnings, $6,902 73.

General Balances.—Tennessee State loan and interest thereon, about $2,600,000. No balance sheet, the property being in the hands of a State Receiver. The road cost originally somewhat over $3,000,000. The Louisville and Nashville Company have made advances of $42,976 91, which amount stands against any future earnings. Stato Receiver-D. B. Cliffe.... Clarksville. / Superintendent-Robert Meek..... .Clarksville.

PRINCIPAL OFFICE AND ADDRESS..... Clarksville, Montgomery Co., Tenn.

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MEMPHIS AND OHIO RAILROAD.

(Leased for ten years from Sept. 1, 1867, to Louisville and Nashville RR. Company.)

Line of Road.-Memphis, Tenn., to Paris, Tenn......

130.3 miles. Sidings and other track, 9.14 miles. Gauge, 5 feet. Rail, 56 lbs to yard.

Rolling Stock.-Locomotive engines, 18.

Operations for the year ending June, 1869.—Trains run-passenger, 193,940 ; freight, 115,094 ; construction, 24,017; and switching, 63,706—total, 396,757 miles. Passengers carried-south, 64,811 ; and north, 80,653—total, 145,464. Cotton moved, 127,895 bales. Gross earnings-passenger, $278,998 94; freight, $299,899 40; express, $16,933 34; mail, $13,243 87; and other, $1,200—total, $610,275 55. Operating expenses, including taxes, $156,816 25. Nett earnings, $153,459 30, from which was paid interest on Tennessee bonds, $143,766 60, leaving a surplus of $9,692 70.

The general conditions of the lease under which this road is operated are that the Louisville and Nashville Company shall assume the payment of all debts incurred for reconstruction and operating since the war, and of all interest due and to become due on the Tennessee State bonds, the L. & N. Company to reimburse themselves from the earnings of the road. The advances made by the latter under the lease, amounted, June 30, 1869, to $500,234 11, and there is yet about $27,000 old debt still outstanding, and which must be paid by the lessees. The balance of profit and loss for the 22 months under the lease to date, amounts to a loss of $45,877 88, which is included in the above amount of total advances.

General Balances.-Capital stock, $1,074,288 90; Tennessee State 6 p. c. loan bonds, $2,396,110; income, 6 and 10 p. c. bonds, due October 1, 1866, $529,000;

and debt to lessees, $500,234 11. The cost of the road, etc., is about $3,500,000. NATHAN ADAMS-President..

Memphis, Tenn.
J. F. Boyd-Superintendent.
PRINCIPAL OFFICE AND ADDRESS..

Memphis, Shelby Co., Tenn.

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CLOVE BRANCH RAILROAD (in Progress).

Line of Road.-D. & C. RR., at Hopewell, to Silver Lake Mines.....4.5 miles. Capital stock authorized, $150,000.

Directors (elected first Wednesday of December, 1869).—George H. Brown, Mill Brook, N. Y.; William S. Eno, Pine Plains, N. Y.; R. G. Coffin, Melville Brown and M. A. Fowler, Washington, N. Y. ; Oliver W. Barnes, Fishkill, N. Y.; Benj. Strong, Matteawan, N. Y. ; Albert Emans, La Grangeville, N. Y.; C. A. Nicholson, Beekman, N. Y.; Wm. A. Reid, Mill Brook, N. Y.; A. Tower, Poughkeepsie, N. Y.; John Crosby Brown, New York City; Samuel Thorne, 76 Gold street, New York City.

PRINCIPAL OFFICE AND ADDRESS.. ... Mill Brook, Dutchess Co., N. Y.

WINCHESTER AND POTOMAC RAILROAD.

(Leased for twenty years from July 1, 1867, to the Baltimore and Ohio RR. Company.)

Line of Road.-Winchester, Va., to Harper's Ferry, Va. (rent, $27,000).32 miles.

Capital stock, $300,000 ; funded debt (1st mortgage 6 p. c. bonds, guaranteed by B. & 0. Co., due July 1, 1887), $144,300; floating debt (advances by B. & O. at 6 per cent.), $102,700; other liabilities about $5,000. Cost of railroad, $600,000.

Directors (elected on fourth Thursday of October, 1869).—R. J. Conrad, William
B. Baker, John L. Bell, William L. Clark, William R. Denny, Lloyd Logan and John
Glaize, all of Winchester, Va.
JOSEPH H. SHERRARD— President....

Winchester, Va.
William L. Bent-Secretary and Treasurer........
PRINCIPAL OFFICE AND ADDRESS... Winchester, Frederick Co., Va.

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WINCHESTER AND STRASBURG RAILROAD (Projected).

Line of Road.-Winchester, Va., to Strasburg, Va..

.19 miles.
Authorized capital, $500,000. When completed will be leased to the Baltimore and
Ohio Railroad Company.
JOHN KING, Jr.-President..

Baltimore, Md.
PRINCIPAL OFFICE AND ADDRESS.

Baltimore, Md.

TALLAHASSEE RAILROAD.

(Late Pensacola and Georgia, and Tallahassee Railroads.)

44

Branches : {

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60"

Li of Road.-Quincy, Fla., to Lake City, Fla......

130 m. Tallahasse, Fla., to St. Mark, Fla...

.21 Station No. 3, Fla., to Monticello.....

4- 25 Total length of main and branch line owned by Company...... .155 m. Operated : Fla., Atlantic & Gulf Central RR. (Lake City to Jacksonville).. Total length of all lines operated by Company...

.215 m. Rolling Stock.–Locomotive engines, 14. Cars—passenger, 6; baggage, mail and express, 4; freight (box, 69; stock, 6; and platform, 38), 113; and log trucks, 23—to tal, 146 cars. Also, 19 repair cars.

The Pensacola and Georgia Railroad and the Tallahassee Railroad were sold in March, 1869, by the Board of Trustees of the Internal Improvement Fund of the State of Florida, and were bought by parties who paid an amount sufficient to cover the 1st mortgage bonds of the two Companies, about $1,500,000. The stock of the Tallahassee Railroad Company is $3,000,000.

Directors (elected June 23, 1869).-F. Dibble, J. L. Re Qua, E. M. Cheney and A. Huling, Jacksonville, Fla.; George W. Swepsen, Raleigh, Fla.; C. B. Dibble,

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New York City; Chandler H. Smith, Madison, Fla.; and A. B. Hawkins and M. D..
Papy, Tallahassee, Fla.
F. DIBBLE-President.....

.....Jacksonville, Fla. Treas. & Sec.-F. H. Flagg.. Tallahasse, Fla. Master of Mach'y-Geo. Nugent. . Tallahasse, Fla... Supt. & Chief Eng.-R. Walker.

Master Car Repairs-Jno. Heckert Road Master-W. L. Vinson.....

Vast. Transp.-F. B. Papy PRINCIPAL OFFICE AND ADDRESS.

. Tallahassee, Fla.

DUTCHESS AND COLUMBIA RAILROAD.

(Leased for 99 years to the Boston, Hartford and Erie Railroad Company.)

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Line of Road.–Fishkill, N. Y., to Conn. State Line near Millerton....58 miles. Completed and delivered to lessees—Fishkill to Pine Plains.......

.43 Sidings, etc., 0.57 mile. Gauge, 4 feet 84 inches. Rail, 56 lbs. to yard.

Capital stock authorized, $1,000,000; issued, $700,000.

Funded debt-1st mortgage 7 per cent. bonds, dated January 1, 1868, and maturing January 1, 1908, interest Jan. and July at New York City, authorized, $1,500,000, issued, $1,000,000.

Cost of Road, from Fishkill to Pine Plains, 43 miles, $1,700,000.

Directors (elected first Wednesday of December 1869). — George H. Brown, Mill Brook, N. Y.; William S. Eno, Pine Plains, N. Y.; Egbert Silvernail, Gallatin, N. Y.; Leonard L. Carman, Stanfordville, N. Y.; Ezra B. Hoag, Attleburg, N. Y.; R. G. Coffin, Washington, N. Y.; A. Tower, Poughkeepsie, N. Y.; Samuel Thorne, 76 Gold street, New York City; Leonard B. Sherman, Verbank, N. Y.; Albert Emans, La Grangeville, N. Y.; Lawrence C. Rapelje, Adriance, N. Y.: John S. Emans, East Fishkill, N. Y.; and James Mackin, Fishkill Landing, N. Y. GEORGE H. BROWN-President....

Mill Brook, N. Y. Sec. & Treas.-Wm. A. Reid.... Mill Brook, N. Y. | Superintendent-Benj. Strong... Matteawan, N. Y.

PRINCIPAL OFFICE AND ADDRESS.. Mill Brook, Dutchess Co., N. Y.

LITTLE SÁWMILL RUN RAILROAD.

and

Line of Road.-Ohio River, Pa., to Coal Mines, Pa...

.3 miles. Sidings, 1 mile. Gauge, 4 feet 84 inches. Rail, 50 lbs. to yard.

Rolling Stock.–Locomotive engines, 3 ; and coal (4-wheel) cars, 45.

Operations for the year ending October 31, 1869.-Trains run, 12,000 miles; hauled 145,358 tons of bituminous coal. Gross earnings—freight, $47,604 63 ; and miscellaneous, $4,659 72—total, $52,264 35. Operating expenses, $25,421 51. Nett revenue, $6,842 84; from which were paid—interest $2,900 32 ; dividends, January 8, and July 10 per cent., $7,709 81 ; miscellaneous, $7,797 83 ; surplus, $8,435 18.

General Balances.-Capital stock, 1,660 shares, $83,000 ; funded debt on three mortgages, all due, 7s, $36,166 67 ; and floating debt, $2,895 05—total stock, bonds and debt, $122,051 72. Per contra: cost, etc., $91,011 14; real estate, $83,625.

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