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The foregoing, bonds, together with 1,900 shares of stock, were issued in payment for property in the city of Buffalo, conveyed to said corporation or now owned by it.

COST OF ROAD. Total cost of road

$599,000

The corporation is unable to separate the cost of its road into items calied for in blanks furnisbed for report. The entire cost of superstructure, including rails, was $131,000, and for land damages and fences, $418,000, making a total of $599,000._There bare been no additions or betterments during the year ending September 30, 1886. The reason why such separation cannot be made is because the property acquired was that of a complete railroad.

This company has no equipment of its own, all used by it baving been supplied by other corporations with whose tracks it makes connections.

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

$54, 412 14 Less operating expenses (excluding all taxes).

36, 049 61 Net earnings from operation....

$18, 362 58 Income from other sources, as follows, viz.: Rentals of real estate..

3.600 00 Gross income from all sources.

$21, 962 53 Deductions from income, as follows, viz. : Interest on funded debt due and accrued...

$24, 000 00 Taxes on property used in operation of road.

5,083 50 Taxes on earnings and capital stock....

298 12

29, 381 62 Deficit for year ending September 30, 1886..

$7,419 09

GENERAL INCOME ACCOUNT.
Deficit for year ending September 30, 1886, as shown .
Deficit up to September 30, 1885....

Total deficit September 30, 1886...

$7, 419 09 13, 359 69

$20,778 TS

ANALYSIS OF GROSS EARNINGS AND OPERATING EXPENSES.

EarningS. On account of handling coal

$54, 412 14

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* Should state months when interest is payable.-R. R. Commissioners.

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$599, 000 00

GENERAL BALANCE SHEET SEPTEMBER 30, 1886.

Assets.
Cost of road..

Current assets, as follows, viz.:
Cash on hand..
Open accounts
Profit and loss (deficiency).

179 70 30, 645 02 20,778 78

$650, 603 50

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710

Laid with iron rail, main line ....
Common switches are used, and on trestle self-acting switches.

MISCELLANEOUS STATISTICS.

ITEM.
Total assessed value of real estate and personal property of company....

Company handles cars of any corporation desiring to unload at its dock.

Entire line all in N. Y. State.

$196,715

DESCRIPTION OF FREIGÄT Moved.
Coal and coke transferred into vessels
Coal and coke transferred into line cars

Tonnage 172, 806 16, 700

189, 006

Name.
GEORGE A. Hort..
E. H. MEAD...
W. E. STREET.
Thomas HODGSON

OFFICERS OF THE COMPANY.
Title.

Oficial Address.
President.

1 Broadway, N. Y. city. Treasurer

1 Broadway, N. Y. city. Secretary

1 Broadway, N. Y. oity. General Superintendent .. Buffalo, N. 'Y.

DIRECTORS OF THE COMPANY.

Name.
GEORGE A. HoyT....
Edwix H. MBAD.....
Wm. E. STREET
Tuomas HODGSON

Residence.
Stamford, Conn.
South Orange, V. J.
Darien, Conn.
Buffalo, N. Y.

SAMUEL Thorn...
George W. QUINTARD
A. S. SWORDS..
W. H. ZIEGLER
G. L. Brows.
John R. Platt
F. D. LOCKE

New York city.
New York city.
Stamford, Conn.
Brooklyn, N. Y.
Washington, Conn.
New York city.
Buffalo, N. Y.

Title of company, The Island Railroad Company.
General office at No. 1 Broadway, N. Y. city.
Date of close of fiscal year, December 31.
Date of stockholders' annual meeting, first Monday in September.
For information concerning this report, address Thomas Hodgson, Gen'l Supt.

ITHACA, AUBURN AND WESTERN.

LESSOR.

LESSEE - SOUTHERN CENTRAL.

(Date of charter, September 20, 1876.)

For history of organization, see Report of 1885.

CAPITAL STOCK AND FUNDED DEBT.

CAPITAL STOCK.

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$12, 600 00

INCOME ACCOUNT FOR YEAR ENDING SEPTEMBER 30, 1886. Gross income from all sources

Deductions from income, as follows, viz., Interest on funded debt past due on account.

Surplus for year ending September 30, 1886

8, 750 00

$3,850 00

GENERAL INCOME ACCOUNT. Surplus for year ending September 30, 1886, as shown. Surplus up to September 30, 1885...

$3,850 00

360 85

$4, 210 85

Paid balance due on mortgage of J. W. Dunning.
Interest on mortgage of J. W. Dunning..
Clerical service
Telegraph (1881)
Petty expenses..

$3,400 00

161 88
200 00
30 60
8 89

3, 801 37

Total surplus September 30, 1886 .

$409 48

Name.
SUMNER R. STONE..
A. S. BARNES.
F. T. PEET.

OFFICERS OF THE COMPANY.
Title.

Official Address.
President..

58 Pine street, New York.
Treasurer.

111 William street, New York. Secretary

Auburn, N. Y.

DIRECTORS OF THE COMPANY.
Name.

Residence.
ALFRED S. BARNES

Brooklyn, N. Y. HENRY R. Low.

Middletown, N.Y. Sumner R. STONE.

New York city. W». J. Groo..

Middletown, N.Y. E. STERNBURG..

New York city. Wm. H. Guion

New York city. HOMER N. Lockwood.

New York city. Thos. M. Kones..

New York city. Joseph W. Dunxing.

Auburn, N. Y. STEPHEN S. HEWITT..

Genoa, Y. Chas. E. THORNE....

Auburn, N. Y. F. T. PEET....

Auburn, N. Y.
T. C. CHRISTIANSEN..

Brooklyn, N. Y.
Title of company, Ithaca, Auburn and Western Railway Company.
General office at 111 and 113 William street, New York city.
Date of close of fiscal year, December 31.
Date of stockholders' annual meeting, October.
For information concerning this report, address A. S. Barnes, Treasurer.

KAATERSKILL.

(Date of charter, November 23, 1882.)

For history of organization, see Report of 1885.

CAPITAL STOCK AND FUNDED DEBT.

CAPITAL STOCK.

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INCOME ACCOUNT FOR YEAR ENDING SEPTEMBER 30, 1866. Gross earnings from operation......

$11,283 35 Less operating expenses (excluding all taxes).

7,467 83 Gross income from all sources...

$3, 815 52 Deductions from income, as follows, viz. : Interest on funded debt due and accrued

$3,600 00 Taxes on property used in operation of road.

283 13 Taxes on earnings and capital stock..

91 27 Taxes other than above..

81 35 Discount and interest

149 10 Insurance...

117 60

4,272 45 Deficit for year ending September 30, 1886......

$456 93

GENERAL INCOME ACCOUNT. Deficit for year ending September 30, 1886, as shown... Surplus up to September 30, 1885

$456 93 9, 413 99

Total surplus September 30, 1886.

$8,957 06

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