456.-BOSTON AND MAINE. A consolidation of four companies (authorised 1st January, 1842), namely, Boston and Portland, in Massachusetts; Boston and Maine, in New Hampshire; Maine New Hampshire and Massachusetts, in Maine; Boston and Maine Extension in Massachusetts. Several smaller branches have been added. Total length of main line, from Boston to South Berwick Junction, 74-26; Medford branch, 2:23; Methuen, 3-61; Great Falls, 2-95; Newburyport, 26-96; Danvers, 9:20— total, 119.22. The earnings for the years ending 31st May, 1868, 1869, and 1870, have been as follow: $532,183 $524,777 Reserved for the purchase of rails, and unadjusted liabilities, &c...... 60,000 Leaving $464,777 455,000 $9.777 From which two dividends of 5 per cent, each have been paid Balance Add balance from previous year 993,200 Total, as in general balance sheet.................................................................................................................. $1,002,978 The balance of $1,002,978 is invested as follows:-In Newburyport bonds, $300,000; in Danvers bonds (guaranteed by this corporation), $73,000; in the Danvers railroad contract and stock, $27,430; in the Dover and Winnipiseogee stock, $258,464and the remainder in expenditures on the road, rolling stock, &c., in addition to the capital received from the sale of stock. It is therefore only an element indicating, in some measure, the value of the stock above par; but it is not available for the payment of debts or dividends. CAPITAL.-The condensed balance sheet to 31st May, 1870, furnished the subjoined particulars of income and expenditure: CENTRAL PACIFIC-CHICAGO, BURLINGTON, AND QUINCY. 457.-CENTRAL PACIFIC. 381 This line extends from Sacramento to the State line of Nevada. For the first seven miles the Central Pacific received the same Government subsidy as the roads east of the Rocky Mountains, $16,000 per mile; for the next 130 miles of more rugged country, it received $48,000 per mile; and for the remaining distance (570 miles), $32,000 per mile. The State of California assumed the payment of the interest for twenty years upon one million and a-half of the company's bonds; a concession worth about $3,000,000 in gold. In addition to the subsidy granted this company by the General Government, the City of San Francisco donated, to aid in the construction of the road, $400,000, in city 7 per cent. thirty year gold-paying bonds, and the City of Sacramento some thirty acres of land in that city, embracing about 1,300 feet of valuable water front on the Sacramento river, which, with the privileges connected therewith, is considered worth $300,000. The junction of the east and west portions of the National Pacific system was made on the 12th May, 1869; the through traffic over the Central Pacific may be said to have begun at that time. For the month of October the gross receipts in gold were........ $804,800 Increase on the month For the ten months of 1870 the receipts were For the same period of 1869......... Increase on ten months. 57,642 $225,158 6,658,000 4,664,200 $1,993,800 The present rate of net earnings leaves a considerable margin over and above the requirements for first mortgage interest. 458.-CHICAGO, BURLINGTON. AND QUINCY. This road consists of the line from Chicago, through Galesburg, to Burlington, 200 miles from Galesburg to Quincy, 100 miles; from Galesburg to Peoria, 53 miles; from Yates City to Lewiston, 30 miles, and that part of the old road from Galena Junction to Aurora, 13 miles, making a total of 400 miles. The following is a comparative statement of the earnings of the line, 400 miles in length, for the fiscal years ending April 30th: 1868. 1870. $1,718,323 4,514,629 1869. 4,758,864 455,228 394,636 388,820 Interest on Keokuk and St. Paul bonds ................................................................. 37,260 67,060 101 C. B. and Q. 8 per cent. bonds, purchased for sinking fund 111,100 2,470,807 Leaving balance to credit of income account, April 30, 1870........... $896,662 The gross earnings for the year 1870 were $6,621,773, and the operating expenses, including taxes, rent of tracks, and cost of transters, $4,017,178, leaving applicable to interest and dividends the sum of $2,604,594. The amount paid for dividends, and taxes on the same, during the year has been $1,600,831; for interest on bonds, $496,252: bonds purchased for sinking fund, $111,100, leaving a balance of $396,410; to which add balance from previous year of $500.252, making the total amount to credit of income account at the close of the year $896,662, exclusive of amount paid into the sinking fund, which at this time is $1,147,861. CAPITAL.-The general account to 30th April, 1870, furnished the subjoined detail of revenue and expenditure: Capital stock Funded debt ($4,649,750), viz. : Received. Trust mortgage convertible sinking fund 8 per cent. bonds.................... Second mortgage bonds issued on account of Northern Cross road, pay- C. B. and Q. scrip, of 13 semi-annual instalments of $21,750 each, payable July and January, at Frankfort-on-the-Main, issued on account of N. C. Amount due under decree of Court foreclosing the mortgage on the N. C., not yet called for by the bondholders, and therefore retained by order of the Court Unclaimed dividends Unpaid accounts and pay rolls...... $16,590,210 150.000 1,876,000 400,000 941,000 282,750 270,000 $1,958 J20,228 1867-68. $3,573,031 8,266,809 464,405 459. CHICAGO AND NORTH WESTERN. Length, 1,156 miles. The earnings for the fiscal years ending May 31st have been as under: Passengers Freight. Express Dividend 5 per cent. free of tax, on common and preferred stock, paid June 30th, 1869 $1,714,599 1,565,427 Dividend 5 per cent, on preferred, and 4 per cent. on common 407,062 $3,687,088 Leaving balance to credit of income account, May 31st, 1870 ............... $541,424 The dividends declared during the year amounted to 7 per cent. on the preferred and 4 per cent. on the common stock, leaving a surplus of $541,424 at the close of the year. The receipts for the four months ending 30th September amounted to $4,660,472, the expenditure to $3,082,021, and the net income to $1,578,450, in comparison with $1,103,525 for the corresponding period in 1869. CAPITAL.-The stock of both classes on the 31st May, 1870, was $35,046,922, including the amount of $1,500,000 of preferred stock authorised to be issued by the board of directors of the preceding year. On the 31st May, 1869, the amount was $31,249,259, showing an increase of $3,792,663. The account of common stock now stands at $14,676,629, preferred stock $20,370,293, amount of bonds $15,692,110; total stock and bonds, $50,739,032. There has been a reduction in the various classes of bonded debt, amounting to the sum of $2,142,500; the whole amount of bonds retired during the year having been $3,059,500, and the amount of bonds issued $917,000. The following is the comparative statement of the earnings and expenses for six months of the fiscal years 1869 and 1870, ending November 30th: Earnings, Expenses, &c., Net, 1869. $275,571 111,503 1,037,973 790,606 247,366 1,305,672 836,534 469,137 1,371,780 1,007,384 364,395 Balance to credit of income account, May 31, 1870... Total earnings, as of November 30, 1870 Surplus, December 1, 1870................ 541,424 2,414,545 $2,945,679 1,750,940 $1,205,027 384 CHICAGO, ROCK ISLAND, AND PACIFIC-CINCINNATI, ETC. 460.-CHICAGO, ROCK ISLAND, AND PACIFIC. The gross receipts for the years ending March 31st, 1869 and 1870, were as follows: 1869. 3,575,915 34,848 1870. $1,786,956 3,587,002 50,931 Interest on bonds Dividends, including tax Leaving a balance of Add balance of income account, March 31st, 1869................. Total 1,326,301 2,066,951 $471,523 .... 1,597,244 .$2,068,767 CAPITAL.-The balance sheet to 1st April, 1870, furnished the subjoined par ticulars: Capital stock............ Expended. Cost of road and equipment ...$25,025,906 as trustee for guaranteed 615,650 50,845 land.... 1,397,000 Income bonds Chicago and Stanton, Elliot, and Wilson 1,086 Rock Island 14,000 Mortgage sinking fund bonds 7,376,000 Fractional agreements con vertible into bonds. 643 Due railway bridge 38,987 Sundry balances 7,122 Chicago, Rock Island, and Cash and loans in hands of 1,078,320 49,852 Profit, balance of income ac count 2,068,767 $26,933.385 $26,933,385 461.-CINCINNATI, HAMILTON, AND DAYTON. Length, 60 miles. The line runs from Cincinnati, through the Great Miami Valley, to Dayton. At Dayton it connects with the Atlantic and Great Western for New York, and by the Ohio and Indiana for Pittsburg and Philadelphia. The company have leased perpetually the Dayton and Michigan, at an annual rental equal to the interest on a fraction less than $22,000 per mile. The earnings for the year ending March 31st, 1870, have been as follow: |