MICHIGAN MIDLAND AND CANADA RR. (In progress.) Line of Road.—St. Clair, Mich., to Fenton, Mich.... Branch: St. Clair, Mich., to Sarnia, Mich. Other branches are projected but not yet located. Rolling Stock.—Locomotive engines, 2. Cars, 20. ..63 miles. Financial Statement.-Capital stock authorized and subscribed, $2,000,000; paid in, $291,000. Cost of road to March 1, 1873, $291,000; estimated cost of entire road, $1,800,000. There is no funded debt. A river frontage of 700 feet has been purchased at St. Clair, and a wharf 300x50 feet completed. It is intended to complete the railroad during the current year, and to form connections in Canada with the Canada Southern and Grand Trunk RRs.; and in Michigan with the Chicago and St. Clair Air Line, and the Detroit and Milwaukee Railroads. Directors.-Milton Courtwright, Daniel Drew, Sidney Dillon, John Ross, Kenyon Cox and Benjamin F. Ham, New York City; John E. Kitton, Henry Whiting and John L. Agens, St. Clair, Mich. M. COURTWRIGHT, President....... .....New York City. Treas, and Sec.-Allyn Cox.. .New York City. | Chief Eng.-F. W. Finney.......St. Thomas, Ont. Man, Director-John E. Kitton...St. Clair, Mich. | Purch. Agent-B. W. Gough......St. Clair, Mich. Fiscal Agents-KENYON COX & Co...... ..New York City. ..St. Clair, Mich. MASSAWIPPI VALLEY RAILWAY. (Leased and operated by Connecticut and Passumpsic Rivers RR. Company.) Line of Road.-Stanstead, Can., to Sherbrooke, Can. Branch: Junction to Derby Line, Vt.. Total length of line operated..... Sidings and other tracks, 2 miles. Gauge, 4 feet 8 inches. Rail, 56 lbs. to yard. This railway continues the Connecticut and Passumpsic Rivers Railroad to a junction with the Grand Trunk Railway of Canada, and forms a new route to Montreal and Quebec. A third rail, to admit the passage of narrow-gauge cars, has been laid on the Grand Trunk Line between Lenoxville and Sherbrooke, a distance of about 3 miles. Rolling Stock.-None owned by company. Supplied by lessees. Operations, (included in lessees' returns.) Payments during year ending December 31, 1872: Interest on funded debt, $24,000, gold. Dividend, 3 per cent, $24,000. Financial Statement.-Capital stock, $400,000; and 1st mortgage 6 per cent gold bonds, interest January and July, and principal July 1, 1889, $400,000, guaranteed by C. & P. R. RR. Co.-total stock and bonds, $800,000; nominal cost of railway, $800,000. Directors, (elected September, 1872.)—A. T. Galt, Montreal, Can.; B. Pomroy, Compton, Q.; B. P. Cheney, E. Raymond, Thomas Upham, and F. M. Weld, Boston, Mass.; C. Brooks, Lenoxville, Q.; C. C. Colby, A. Knight, Stanstead, Q. MARIETTA AND PITTSBURG RAILROAD. (In progress.) Line of Road.-Marietta, O., to Canal Dover, (C. and P. RR.,) O.......100 miles. The road is in operation for a length of 80 miles. The remaining 20 miles are graded, and the iron delivered. The entire road will be completed during the present season. There is a coal branch of 2 miles from Macksburg (24 miles north of Marietta) to the coal mines. The northwest extension, which branches at Liberty, will be put under contract during the year. Second track, 5 miles. Gauge, 4 feet 8 inches. Rail, 50 lbs. to yard. Rolling Stock.-Locomotive engines, 6. Cars-passenger, 8; baggage, mail and express, 2; and freight, box, 20; cattle, 10; platform, 18; and coal, 64-total, 122. Operations. No distinct operating and construction accounts have been kept. No report is made of amount of capital stock. Financial Statement, (January 1, 1873.)-Funded debt, 1st mortgage, gold, 7 per cent bonds, dated August 1, 1870, interest payable February and August, and principal August 1, 1895, $1,150,000. Directors, (elected 2d Tuesday of February, 1873.)—A. J. Warner, T. W. Ewart, A. J. WARNER, President and General Superintendent. .Marietta, O. ..Cambridge, O. VICKSBURG AND NASHVILLE RAILROAD. (In progress.) (Formerly the Grenada, Houston and Eastern Railroad Company.) Line of Road.-Vicksburg, Miss., to Nashville, Tenn...... Branch Line: Grenada, Miss., to Miss. River (opp. Eunice, Ark.). Total length of main and branch line projected................ Gauge, 3 feet. Weight of rail, (proposed,) 35 lbs. to yard. Contracts have been made for the grading of a large portion of the work, and some 26 miles are nearly ready for the iron. The amount of receipts from stock subscription during the year ending February 31, 1873, was $43,441.74, which was expended on the work. Financial Statement.-County bonds on hand last report and since received, $263,700. Per contra: sold and hypothecated, $146,500; on hand, $117,200. The assets are, $275,607.74, and liabilities, $19,716.34. Directors, (elected February 4, 1873.)-W. F. Tucker, Simon Meyer and T. J. Buchanan, Okolona, Miss.; T. N. Martin and Vestal Beeson, Houston, Miss. ; Austin Woodward, Benala, Miss.; H. C. Horton, D. C. Dulany and M. M. Bolar, Pittsboro, Miss.; N. Howard, G. W. Trimble, J. D. Le Flore and L. C. Lee, Grenada, Miss. Sec. and Treas.-D. P. Black.... ..Houston, Miss. | Engineer-W. S. Moon..........Okolona, Miss. Railroads owned or leased. VERMONT CENTRAL RAILROAD. (Opened for business, 1849.) 118 m. 49 8 Line of Road.-Windsor, Vt., to Burlington, Vt.............. 28 26 ..120 24 16 Montreal and Plattsburg RR., Plattsburg, N. Y., to Can. Line..... 23 Total of all roads owned or leased...... ... 773 m. No annual report of the operations of the road has been published. The following statements are taken from the report of the trustees and managers made to the stock and bondholders in Boston, Oct. 2, 1872: The affairs of the Vermont Central Railroad are conducted by a board of trustees and managers, appointed by the Chancery Court of Vermont. This road had leased the Vermont and Canada Railroad, but failing to pay rent, the two roads, in 1859, were brought into court. The overdue rents to the Vermont and Canada RR. were ordered capitalized, making the capital stock of the Vermont Central company $2,000,000. The overdue coupons were funded, and the 1st mortgage increased to $3,000,000. The stock of the Vermont and Canada RR. was increased $250,000, and trustees and managers appointed. In 1865, authority was given to issue $2,000,000 of equipment bonds. In 1867, the capital stock of the Vermont and Canada RR. was further increased $250,000, and $500,000 of notes of the managers, to pay coupons, were issued, and authority given to borrow $300,000. In 1869, a further loan of $500,000 was authorized. In 1871, $500,000 additional stock of Vermont and Canada RR, was authorized. The amount of all these securities is: Vermont and Canada RR., original stock.... Additional stock to pay rent..... .$1,348,500 The interest on this debt amounts to $725,000 per year. Of the bonded debt $3,750,000 has accrued under the trust. There is also the 1st mortgage on the Missisquoi Railroad, amounting to $500,000, guaranteed by the Vermont Central-making the sum annually chargeable as interest $760,000. Rolling Stock.-Locomotive engines, 170; cars-passenger, 125; baggage, mail and express, 51; freight, 5,189-total, 5,365. Operations for two years, ending June 1, 1872. Gross earnings....... $4,395,384 17 {Balance net earnings. Earnings Rutland RR. (17 mo.)1,869,589 64 Earnings O. & L. C.RR. (27 mo)2,232,467 64 Tot. gr. earnings to June 1,'72.8,497,441 45 .$3,004,890 84 1,390,493 33 ...... 535,953 16 .$1,568,281 75 664,185 89 $5,906,809 07 From net earnings are to be deducted amount paid V. & C. Railroad : 2 years' interest on $2,500,000, and one year's on $500,000... .$440,000 17 months' rent Rutland RR. and branches, at $562,000 pr. year 843,000 O, & L. C. RR. (less $85,000 loss to lower road). 814,145 27 66 Total rents and interest on V. & C. stock.. 2,590,632 38 $2,097,145 00 Leaving balance after payment of all rents and interest on V. & C. stock $493,487 38 In two years ending June 1, 1872, interest on bonded debt has been paid as follows: There have also been paid for extraordinary expenses, new locomotives, cars, stations, etc. : Which, added to interest paid on bonds, amounts to...... Deduct balance of net earnings after payment of rents... Balance, expenditures over earnings, two years. $2,156,134 22 493,487 38 $1,662,646 84 Equipment bonds, 8 per cent. $2,000,000 00 Road (cost stated in 1865)...$8,500,000 00 3,000,000 00 Rolling stock (appraised val.) 1,895,097 37 795,500 00 S., S. & C. RR. (valued at).. 1st mortgage Guaranteed "" 7 8 860,000 00, The items composing the floating debt and available assets are as follows: Notes payable & dem'd loans. $1,716,654 69 | Notes receivable...... $146,609 29 |