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DESCRIPTION OF ROAD AND EQUIPMENT — (Continued).

Iron bridges....
Wooden bridge.

Total...

EQUIPMENT

Locomotives, 6 drivers..
Locomotives, 4 drivers

Total

First-class passenger cars...
Second-class passenger cars ........

Total ...

Box scraper
Coal freight cars
Flat freight cars.
Service ore cars

Total.

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First class passenger car has Westinghouse air brake and Miller's patent buffer platform and coupler; second class have hand-wheel brake and link coupler; freight cars, side brake and Tracy's bullnose and link coupler. Target switch used on main line and lever switch on şidings. MISCELLANEOUS STATISTICS.

Entire line all ITEM.

in N. Y. State. Telegraph owned and operated by Northern New York Telephone Company.

7.66 Stations, fuel and water.. Engine houses ...

2 Machine and car shops Total assessed value of real estate and personal property of company

$204, 200 Railroad crossing over or under grade...

1 Highway crossings at grade without protection Highway crossings over or under grade ... Overhead obstructions less than 20 feet above track

Passenger cars are heated by steam heater and coal stoves, lighted by oil lamps, and ventilated by top side ventilators.

DESCRIPTION OF FREIGHT MOVED.
ITEM.

Tonnage. Lumber, wood and bark..

3,775 Pig and bar iron and steel.

21 Iron or other ores

318,735

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EMPLOYEES.
Average number of persons employed (including officials) during year
Aggregate amount of salaries and wages paid them during year..

56 $26, 810 40

OFFICERS OF THE COMPANY.
Name.

Title.

Official Address. GEORGE R. SHERMAN..

President..

Port Henry, N. Y. ALBERT TOWER.

Treasurer..

Poughkeepsie, N. Y. FRANK S. WITHERBEE.

Secretary

Port Henry, N. Y. E. B. HEDDING..

General Superintendent .. Port Henry, N. Y.

DIRECTORS OF THE COMPANY.
Name.

Residence.
GEORGE R. SHERMAN.

Port Henry, N. Y. SILAS H. WITHERBEE.

New York city. ALBERT Tower......

Poughkeepsie, N. Y. HENRI M. BRAEM.

New York city. FRANK S. WITHERBEE.

Port Henry, X, Y. JAMES A. BURDEN..

Troy, N. Y.
Title of company, Lake Champlain and Moriah Railroad Company.
General offices at Poughkeepsie, N. Y., and Port Henry, N. Y.
Date of 'close of fiscal year, September 30, 1886.
Date of stockholders' annual meeting, November 10.
For information concerning this report, address Albert Tower, Treasurer.

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LAKE SHORE AND MICHIGAN SOUTHERN.

(Date of charter (Buffalo and State Line), April 12, 1848.)

For history of organization, see Report of 1885.

CAPITAL STOCK AND FUNDED DEBT.

CAPITAL STOCK,

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* COST OF ROAD AND EQUIPMENT. Total cost of road..... Total cost of equipment.

Grand total cost of road and equipment....

$66, 700,000 17,800,000

$84,000,000

INCOME ACCOUNT FOR YEAR ENDING SEPTEMBER 30, 1886. Gross earnings from operation......

.$15, 281, 457 26 Less operating expenses (excluding all taxes)..

8, 890, 998 59 Net earnings from operation .,,..

$6, 340, 458 67 Income from other sources, as follows, viz.: Interest and dividends

62, 076 71 Gross income from all sources.

$6, 402, 535 38 Deduction from income, as follows, viz.. Interest on funded debt due and accrued

$3,341, 393 49 Rentals....

442, 120 58 Taxes on property used in operation of road.

478, 534 03 Taxes on earnings and capital stock...

88, 133 04

4, 300, 181 14 Net income from all sources

$2,102, 354 24 Payments from net income, as follows, viz.: Dividends declared, 10 per cent on $533, 500 guaranteed stock...

53, 350 00 Surplus for year ending September 30, 1886 .....

$2,049, 004 24 GENERAL INCOME ACCOUNT. Surplus for year ending September 30, 1886, as shown...

•$2,049,004 24 Surplus up to September 30, 1885.....

5,372,167 53 Total surplus September 30, 1886......

$7,421,171 77

DETAILED STATEMENT OF Rentals.
Erie and Kalamazoo Railroad
Kalamazoo, Allegan and Grand Rapids Railroad;
Detroit, Hillsdale and South-Western Railroad..

$30,000 00 103, 800 00 54, 500 00

* Details cannot be given as this is a consolidation of several original companies.

Fort Wayne and Jackson Railroad...
Jamestown and Franklin Railroad.
Mahoning Coal Company.

Total amount of rentals deducted from income..

$127,527 88

31, 660 66 94, 632 04

$442, 120 68

ANALYSIS OF GROSS EARNINGS AND OPERATING EXPENSES.

EARNINGS.

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38_203, 952 98

OPERATING EXPENSES.
Maintenance of way and structures :
Steel, rails laid...

$70, 877 70 $123, 500 27 Repairs of roadbed

$193, 877 97

319, 238 13 560, 205 78 Repairs of bridges (including culverts and

879, 443 91 cattle-guards).

50, 222 28 88, 131 11 Repairs of stations, shops, docks, etc.

138, 363 39

92, 703 23 179, 632 96 Repairs of fences..

272, 836 19

29, 565 13 57, 288 95 Other expenses for maintenance of way and

86,854 03 structures

116, 224 38

320, 177 86 Total ..

$678, 330 85 $1,212, 712 05 $1,891,042 90 Maintenance of equipment : Repairs of locomotives.

$216, 203 04 $379, 397 62 Repairs of cars..

$595, 600 66

171, 247 50 572, 631 1 743, 879 21 Total

$387, 450 54 $952, 029 33 $1,839,479 87 Conducting transportation : Wages of conductors and men

$221, 203 68 $435, 200 06 Wages of engineers and firemen.

$656, 403 74

322, 765 95 Fue for locomotives..

566, 396 45 889,162 40 Oil and waste

216,715 29
380, 296 54

597, 011 83

21, 822 74 Water supply

38,295 01

60, 117 15

16,774 63 29, 436 46 Other train supplies or expenses

46,211 09

17,904 18 3,556 90 Wages of station agents and clerks.

21, 461 03

622,064 07 Station supplies..

1, 205, 386 19 1, 827,450 96

20, 226 14 39,192 61 59, 418 75 Total

$1,459, 476 68 $2,697,760 22 $4,157, 256 90

General expenses :
Salaries of general officers and clerks
Contingencies..
Stationery and printing..
Outside agencies and advertising.
Legal expenses...
Loss and damage of freight and baggage
Damage to cattle and property

$108, 211 76

$209,684 13

$317, 895 89

28, 823 05 20, 741 25 77,160 25 13,799 87 9,768 91 7, 919 23

55, 833 22 40, 190 76 110,541 81 26, 740 31 18, 929 43 13, 896 85

84, 656 7 60,932 01 187, 702 06 40, 540 18 28,698 34 21,816 08 14, 231, 541

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GENERAL BALANCE SHEET SEPTEMBER 30, 1886.

Assets. Cost of road.....

$66,700,000 00 Cost of equipment

17,300,000 00 Other permanent investments, as follows, viz.: Stock and bonds of other companies

13,574, 768 82 Detroit, Monroe & Toledo Railroad

$1,381, 600 00 Northern Central Michigan Railroad

1, 357, 000 00 Kalamazoo and White Pigeon

610, 000 00 Jamestown & Franklin...

1,189, 368 97 General office property, etc.

365, 779 61 Miscellaneous..

3, 856 00

4,907, 104 58 Current assets, as follows, viz.: Cash on hand.

$1,735,060 11 Due by agents..

113, 150 85 Open accounts.

691, 911 05 Materials and supplies

617, 904 69

3, 158 026 70

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Passenger train mileage.
Freight train mileage
All other train mileage.

Total train mileage.

3, 445, 307 6,022, 975 4,763, 259

* Differs from surplus shown in general income account by $597,926.33; amount of interest on funded debt due and accrued entered above as a liability under that head.

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