The Sussex Railroad Company was chartered on the 5th February, 1853, and the road was completed on the 11th, December, 1854. It is chiefly used for the transportation of iron and zinc ores. SHARE CAPITAL-Authorized, $200,000, and paid in, $180,146. FUNDED DEBT-$200,000; described as follows— 1st Mortgage, 6 per cent. bonds -$150,000 -dated 1st December, 1853, and payable, principal on the 1st April, 1873, and interest semi-annually, 1st April and 1st October, at New York. 2d Mortgage, 7 per cent., bonds- -- -$50,000 -dated 1st January, 1858, and payable, principal on 1st January, 1871, and interest semi-annually, 1st January and 1st July, in New York. FLOATING DEBT $9,957. COST OF ROAD AND EQUIPMENT $390,103. (No detail.) INCOME ACCOUNT FOR THE YEAR ENDING 31ST DECEMBER, 1859. WARREN RAILROAD. (Financial year ending 31st December, 1859.) JOHN J. BLAIR, President. LENGTH OF ROAD-Bridgeville to Clarkesville Junction .Blairstown, N.J. .NEW YORK CITY, N.Y. 21.04 miles OLLING STOCK-Supplied by Delaware, Lackawanna and Western Railroad Co. The Warren Railroad Company was chartered on the 12th February, 1851. Construction was commenced in 1855, and the road opened in June, 1856. On the 27th January, 1854, an agreement was made with the Delaware, Lackawanna and Western Company, and the Central Company of New Jersey, whereby the former agreed to subscribe $150,000 to its share capital and guarantee $300,000 of its bonds, and the latter to subscribe the same amount of stock and to guarantee $250,000 of its bonds. These sums, with the amount of stock taken by contractors and others, constituted the means of building the road. As it was designed to form a part of the line of the Delaware, Lackawanna and Western Railroad, that Company agreed to take a perpetual lease of it, paying therefor 7 per cent. annually, on its cost. The balance of the means necessary for its construction was raised chiefly through sales of stock, which has been increased to $1,024,600. In 1857 the Delaware, Lackawanna and Western Company became embarrassed and unable to pay the stipulated rent. By way of compromise, the holders of the stock agreed to reduce the rate of interest to be paid in future from 7 to 54 per cent. For the past year, however, the Company paid six per cent. on the stock, and it proposes, should its income warrant it, to pay the rate originally agreed upon. The road is an expensive one, and a long tunnel is still in process of construction. This when completed will shorten the road 2.27 miles, and reduce the grade to the minimum on the Central Railroad, that is 21 feet to the mile. Paid in, SHARE CAPITAL-Authorized, $1,250,000, in $25,000 $50 shares. 1st Mortgage, 7 per cent., coupon bonds ..$600,000 -dated 1st August, 1855, and payable, principal in 20 years, and coupons semi-annually, 1st February and 1st August, at New York. Guaranteed by the Delaware, Lackawanna and Western Company, and the Central New Jersey Company. FLOATING DEBT-None. COST OF ROAD AND EQUIPMENT $1,635,313. No detail; but including large payments on account of the tunnel works. INCOME ACCOUNT FOR THE YEAR ENDING 31ST DECEMBER, 1859. al and merchandise freight tacellaneor Disbursements The West Jersey Railroad Company was chartered on the 5th February, 1853, with a share capital of $1,000,000, and authorized to construct a main line from Camden to Cape Island, about 85 miles, and branch lines to Salem and Bridgeton, with the right of continuing the latter to some point or points on Delaware Bay. The work of construction on the first section, between Camden and Woodbury, was commenced on the 7th September, 1854, and completed on the 15th April, 1857. In May, 1860, the grading of three additional sections of 10 miles, extending from Woodbury, via Glassboro' and Pittston, to Bridgeton, was contracted for, and the work on these soon afterwards commenced. It is proposed to bring the whole road into use during the summer 1861. Estimated cost, $1,000,000. SHARE CAPITAL-Authorized, $1,000,000, in 20,000 $50 shares. COST OF ROAD AND EQUIPMENT $280,277. No detail. $46,582 INCOME ACCOUNT FOR 1859.--Gross earnings, $15,344; operating expenses, $11,976; earnings less expenses, $3,368. 1853, p. 261 Name changed from Somerville & East'n, Feb.22. To amend act of incorporation, March 17, '54. Act of incorporation, March 4. 1837, p. 303 1834, p. 23 CENTRAL *CAPE MAY & ATLANTIC *COLUMBIA DELAWARE.. *DELAWARE & ATLANTIC. *DELAWARE & JOBSTOWN 1833, p. 75 Act of incorporation, March 4. Name changed from Del. & Jobstown, Jan. 20. 1834, p. 23 Name changed to Del. and Atlantic, Jan. 20. 1853, p. 489 1842, p. As to duties to be paid by company, March 10. 1846, p. 43 Prescribing duties of Directors, April 16. 1848, p. 114 May subscribe for shares of Bel. Del. R. R. Co. 1853, p. 484 Joint-Resolution authorizing subscription to Freehold & Jamesburg Agr RR. Co. Feb. 16 Joint-Resolution authorizing subscription to Rocky Hill and Mt. Holly RR. Co. Mch. 10. Joint-Resolution authorizing subscription to New Egypt and Hightstown RR. Co. Mch. 10. Authorized to construct RR. between New York and Philadelphia, March 16. Acceptance of act of 1854 filed, June 1. Act to incorporate, Feb. 9. 1853, p. 489 1854, p. 387 1854, p. 550 1831, p. 1833, p. 69 Supplement to act of incorporation Feb. 8. 1836, p. 6 Supplement to act of incorporation, Feb. 16. 1837, p. 397 Supplement to act of incorporation, March 7. 1838, p. 46 Supplement to act of incorporation, Feb. 9. 1842, p. 47 Time for completion extended, Feb. 16. 1842, p. 155 Mortgage to be valid, etc., March 11. 1849, p. 93 Act to incorporate, Feb. 22. 1853, p. 16 Authorizes dividends, Feb. 16. 1854, p. 3 Time for completion extended, Feb. 19. 1856, p. 276 Relative to freights and fares, March 14. 1848, p. 138 Act to incorporate, March 2. Act of incorporation, March 12. Authorizes construction of additional road and increase of capital, March 10. FREEHOLD & JAMESBURG AGRL. Co. 1851, p. 201 1652, p. 170 |