COST OF ROAD AND APPURTENANCES-$77,040: in detail as follows: Graduation and masonry. Dr . $13,758 | Land, land damages and fences. 4,446 All other expenses. GENERAL LEDGER BALANCE SHEET, 1ST JANUARY, 1860. Construction account. Bills receivable .81.950 3,856 2,057 Cr. $43,471 27,600 3,987 Cash on hand................ Cross ties, etc on hand.. Total .$81,616 Total $81,616 MARYLAND AND DELAWARE RAILROAD. (See Maryland and Delaware Railroad of Maryland.) NEWCASTLE AND FRENCHTOWN RAILROAD. LENGTH OF ROAD-Newcastle to Frenchtown. ...16,19 miles. The Newcastle and Frenchtown Railroad Company was chartered in 1829, and the road constructed in 1830-32. It extends from Newcastle, 35 miles below Philadelphia, to Frenchtown on Elk River, one of the head streams of Chesapeake Bay; and in connection with the steamboats on the Delaware and Chesapeake for many years formed a part of one of the principal routes between the north and south. In 1840 the road was merged into the Philadelphia, Wilmington and Baltimore Company by an exchange of stock, and has since been operated as a part of its works; but being within the State of Delaware, a separate organization is maintained, and separate accounts of operations rendered, Since the completion of the Newcastle and Wilming ton Railroad, the steamboat connections have been discontinued, and that portion of the road west of the Delaware Junction is also in disuse. SHARE CAPITAL-Paid in, $744,520, in 14,891 $50 shares. INCOME ACCOUNT FOR THE ELEVEN MONTHS ENDING 31ST OCTOBER, 1859. Receipts CAPITAL, COST, EARNINGS, EXPENSES, ETC. -Capital Account Cost of Mls of Gross Earnings.Expenses, Shares. Debt. Total. Road, etc. Road. Passen'r. Freight. Miscel. Total. Taxes, etc. 1850 $861,325 $181,223 $1,042,548 $908,927 16.19 $135,129 $1,976 $232 $137,337 $118,773 1851.. 861,420 178,659 1,030,076 908,927 16.19 135,231 1,913 142 137,286 127,523 1852.. 861,420 160,890 1,022,310 908.927 16.19 1,899 201 92,078 118,563 1853.. 861,420 156,108 1,017,528 908.927 16.19 1854.. 861,420 135,190 992,610 886,927 16.19 1855. 861,420 137,984 89,978 72,269 1,847 314 74.430 101,179 70,779 1,883 3,606 76,268 89,381 999,404 853,405 16.19 64,731 2,205 2,058 68.994 97,272 10 Yrs. 8,398,105 792,560 Aver.. 839,810 79,256 987,246 9,385,351 8,323,644 161.90 623,313 52,936 9,427 685,476 NEWCASTLE AND WILMINGTON RAILROAD. LENGTH OF ROAD-Newcastle to Wilmington... .5 miles. The Newcastle and Wilmington Railroad Company was chartered in 1839 and the road constructed in 1854. From the date of its completion it has been operated under lease by the Philadelphia, Wilmington and Baltimore Company, which pays as rent therefor a sum equal to 7 per cent. on its cost of $150,000. This road is the connecting link between the railroads of Pennsylvania and Delaware. PHILADELPHIA, WILMINGTON AND BALTIMORE RR. (See Philadelphia, Wilmington and Baltimore Railroad of Pennsylvania.) WILMINGTON AND SUSQUEHANNA. (Now a part of the Philadelphia, Wilmington and Baltimore Railroad.) LENGTH OF ROAD-Wilmington, Del. to Havre de Grace, Md........34 miles. The Wilmington and Susquehanna Railroad Company was chartered in January, 1832, with a capital of $400,000 in 8,000 shares. By an act passed in 1836, the company was authorized to consolidate with other companies, to increase its share-capital to $700,000, and to negociate loans. In accordance with the provisions of this act, articles of union were agreed to between the Wilmington and Susquehanna and the Delaware and Maryland companiesthe united interests taking the name of the former. This consolidation was consumated in April, 1836, and in the following year the whole line was opened for business. The Philadelphia, Wilmington and Baltimore, the Wilmington and Susquehanna, and the Baltimore and Port Deposit companies, owning the line between Philadelphia and Baltimore, in severalty, were consolidated in 1838. The articles of union, concluded on the 5th February of that year, merged the three corporations into one corporate body, under the style of "The Philadelphia, Wilmington and Baltimore Railroad Company," and their stocks into a common stock, etc.-the stock holders of the Wilmington and Susquehanna Company being entitled to 16,000 shares in the new company. That portion of the road in Delaware between Wilmington and the State Line of Pennsylvania was constructed by the Philadelphia and Wilmington Company. LAWS OF THE STATE IN REFERENCE TO RAILROADS. List of all the Railroad Companies chartered in the State of Delaware, 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 signifes that the work of construction has not been commenced. Corporate Titles. Date of LawS. Y June, 196 Act of incorporation. Feb. 1949 Act of incorporation revived and amended. 24 Feb. 1831 Regulates subscriptions to capital. 7 Feb. 1852 Appropriation of money by State Feb, 1552 Grants certain marsh lands to company. 11 Feb. 1852 Appropriation of money by State. 2 Feb, 1832 Jant resolution directing State Treasurer to subscribe to company's capital. 24 Feb. 1952 In relation to extension of road to N. & F. RR Feb. 1853 Aivances credit of State to company. 1 Mar, 1555. Amen is sec. N of charter. Feb, 159 An act for the benefit of company. 26 Feb. 1957 Act of incorporation. Jan, 1933 Act of incorporation. 21 Feb, 1552 Charter revived. 13 Feb. 1557 13 Feb, 1557 6 Feb, 1833 7 Feb, 1529 26 Jan, 1981 8 Feb, 1882 Act of incorporation. Act of inscrporation. Act of incorporation. Authorized to construct a railroad. 22 Jan. 1833 Supplementary. 9 Feb, 143 Supplementary. 23 Feb, 1849 Authorizes change of western termin 2 Feb, 19 Feb, 2 Feb, 13 Feb., 1855 26 Jan, 1531 15 Feb, 1539 18 Jan, 1832 4 Feb., 1533 26 Jan, 1835 Articles of union between the Philadeča Wilmington & Baltimore of Pezzsy, Tina, the Wilmington & Susquehanna oc itel ani Md. and the Baltimore and Port Deposit of Md. signed. Act of incorporation. Act of incorporation. Charter extended. Act of incorporation : cap. 8400 000 Supplement: may unite with rosas in PezDsylvania and Maryland. Supplement: extends time for orening #> scription to 1st Monday in October and authorizes company to boid rear-esit and steambeats. 24 July, 1635 Supplement: relating to procesus e and company to pay a tax to State al savequarter of one per cent, oE DES LA of $400.000. May unite with IT and Maryland Railroad Cote767Y 17 June, 1836 Supplement: may increase sharP-377077 KDĖ issue bonds, and the right w thing But tional capital reserved to the inga The Chesapeake and Delaware Canal was one of the first works of the kind undertaken in the United States. The near approach of the two great in dentations of the coast formed by the Chesapeake and Delaware Bays naturally suggested their connection, by artificial means, for commercial purposes, as well as for the maintenance of internal communication in time of war. In 1808 a careful survey of the route was made to ascertain its feasibility for the proposed work, but nothing was done in the way of construction till 1824, when the route was finally located and the work commenced. It involved many difficulties and obstacles not anticipated, and its cost greatly exceeded the estimates, and it was not till the fall of 1829 that it was formally opened for business. For many years its revenues were small, and the finances of the company were in an embarrassed condition. It was not till some fifteen years after its opening that it earned the interest on its debts. Up to 1847 the amount overdue had reached the sum of $796,592. At that time the revenues of the canal had so increased as to afford a prospect that, for the future, the earnings would discharge the accruing interest, and a proposition was made to the bondholders to convert the arrears into certificates due in twenty years, from 1st July, 1847, which was acceded to. In 1853, a further loan, amounting to $195,900, was authorized and made for the construction of new locks. In 1856, the bonds of 1836, amounting to $1,593,185, became due, and for the purpose of funding these, and consolidating all the liabilities of the company into one class, the canal and property of the company were mortgaged as security for a new issue of bonds to the amount of $2,800,000, due in thirty years, from 1st July, 1856, and into which all the different classes of indebtedness have been converted, with the exception of $72,056. Since 1847 the accruing interest has been regularly met. The canal commences in Delaware City, on the Delaware River, 42 miles below Philadelphia, and runs to Back Creek, a tributary of Elk River, which falls into the Chesapeake Bay, a distance of about 13 miles. It has three locks-one having a lift of 16 feet on the Chesapeake side, and two on the Delaware side of 8 feet each. The locks are 220 feet by 24 feet, and pass vessels drawing 9 feet water. There is also a tide lock at either terminus. The deepest cut is about 86 feet. The canal is supplied with water by pumping engines. It has a depth of 10 feet and a width of 66 feet. SHARE CAPITAL- Paid in $1,343,563, in $100 shares. FUNDED DEBT $2,729,400: described as follows— 1st Mortgage, 6 per cent., coupon bonds.......... --$2,657,343 -dated 1st July, 1856, and payable in 30 years; interest payable 1st Jan. and 1st July, in Philadelphia. Loan of 1836 (due 1856).......... Loan of 1847 (due 1857)............ $50,068 ..$21,989 INCOME ACCOUNT FOR THE YEAR ENDING 31ST MAY, 1860. Receipts Balance on hand May 31, 1859............ ... $15,293 | Ordinary expenses at the canal................... Tolls received during the year ending Bills receivable.·· Income from "temporary investment". Rents and miscellaneous receipts Total.... Disbursements— $27,693 $262,439 Total... A GENERAL STATEMENT OF THE CHESAPEAKE AND DELAWARE CANAL COM 1842. 1843. 1544. 145. 1546.... 75.008 139.520 7.528 12.501 13,125.260 66.018 127.200 5,973 10.629 11.447,850 772.600 98.014 188410 8.413 12.763 25.926.210 1,011.540 97.559 195.040 8,778 17,625 21,886.400 1,125.000 101.208 291.580 9.684 17.506 25,097,300 570.600 167.510 341.580 12.054 29.276 38.616.500 2,028,500 186.285 3300 12,10 36,175 49.374,400 1,641,000 1,141.50 115.29 N 173 (30 351.550 11.802 39.314 42.548,300 1,944,340 1.667.222 91.913 198.364 361.640 12.912 53.693 44.795.300 2,145,000 1,826.476 1153 30 215,559 389,440 13.582 60.016 46.454,000 2,231,400 1,831.000 133.780 36. 190.141 411.540 12,553 59.547 49.294.200 1.528,200 2044.456. 120327 246,283 477.630 15.085 86.985 58.967.800 3,881,800 2017.900 128428 246,695 504.080 14.597 122.592 56.545,100 3.413,760 2,112647 110154 225,224 536.970 14.391 177.524 62.261.590 2,930.130 1.47033T 115825 225.453 568.650 13.554 160,832 64.534.230 4,013,630 -1.7580644 14.628 202,953 65.144.450 2.599,700 1978 359 12 563 177.882 52.544.160 2,903,560–18417 12.134 175.144 35.648.230 2.151.540 1.055.422 1560.... 216,256 623,150 12,710 193,404 55,652,552 3,142,530 1,645.569-147530 1,226.460 462578 |