RAILROADS IN THE STATE OF PENNSYLVANIA. STATEMENT showing the Share Capital, Indebtedness, Cost of Roads, etc., Gross Earnings from Passengers, Freight, etc., Operating Expenses, Miles Gross Earnings- Operating Earnings Amount --Capital Account- Funded Floating Debt. Debt. Total Cost of $186,042 $186,251 $22,317 161,718 27,955 491,357 479,319 28.35 39,367 Total. less of & Repairs. Expenses. Dividend. $9,172 $13,145 $4,072-1830 21,342 18,045 5,892-1831 1,905,798 1,197,318 48.91 61,342 61,342 34,291 27,051 7,950.1832 Share- 30 y. 828,897,339 448,202,088 65,922,620 1,343,022,047 1,250,231,261 22,178.13 48,546,313 100,709,251 10,734,337 159,989,901 Aver. 27,629,911 14,940,069 2,197,421 44,767,401 41,677,709 739 27 1,618.210 3,356,975 357,811 5,332,997 NOTE. The cost of the State Railroads in the above table has been considered as so much dividend-paying capital, yielding 5 per cent. per annum. This ceased on the transfer of RAILROADS OF THE STATE IN DETAIL. ALLEGHANY PORTAGE RAILROAD. ALLEGHANY VALLEY RAILROAD. BOARD OF DIRECTORS AND OFFICERS, 1860-61. T. J. Brereton... FELIX R. BRUNOT, President. JAMES GIBSON, Treasurer and Secretary. PRINCIPAL OFFICE. LENGTH OF ROAD-Pittsburg to Kittaning.... Second track, including sidings, etc., 54 miles. .Pittsburg, Pa. .Armstrong Co., " .Clarion Co., " .Pittsburg, Pa. ROLLING STOCK-Locomotive engines.... .45 miles. 4 103 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 23d 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, Arınstrong county 3,000 shares, and Jefferson county 1,800 shares-making in all 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 23d 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 by- ..$1,300,000 360,000 By an act approved 23d 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 $400,000: described as follows1st Mortgage, 7 per cent., coupon bonds -$400,000 -dated 1st July, 1855, and payable, principal in 20 years, and coupons semiannually, 1st Jan. and 1st July, at Pittsburg and Philadelphia. Amount Amount provided. Issued. The municipal bonds, guaranteed by the Company, are as follows: Municipalities Rate Date of Date of Interest by which issued. of int. issue. maturity. Where payable. payable. 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..、、 INCOME ACCOUNT FOR THE YEAR ENDING 31ST JANUARY, 1860. .$65,300 Freight 66 Not collected.. Receipts from earnings. Premium on silver.. Balance overdrawn... -82,069 Salaries of officers. 3,614 Total Dr. BALANCE SHEET OF ACCOUNT CURRENT, 1ST FEBRUARY, 1860. ... Office and incidental expenses. Real estate, fencing, right of way, etc. 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. The 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 $237,840; 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, $304,118; bills payable, 25,982; other sources, $11,624. The work of construction is now suspended. PRINCIPAL OFFICE...... ..N. W. corner Walnut and 4th Streets, PHILADELPHIA, Pa. 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. FUNDED DEBT $450,000: classified as follows 1st 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 follows 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 uniform (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 follows 1st Mortgage, 7 per cent., coupon 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. BEAVER MEADOW RAILROAD. WM. W. LONGSTRETH, President A. G. BRODHEAD, Superintendent.. PRINCIPAL OFFICE... LENGTH OF ROAD-Mauch Chunk to the coal mines. Second track, 18.6 miles. Sidings, 5 miles. ROLLING STOCK-Locomotive engines.. Cars-passenger, 2; freight and baggage, 4; coal, 1001.... 20.47 miles. 15 ..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-total $311,202. |