was to be deducted from the amount of rent. If the gross receipts exceeded $75,000, then one-third of such excess was to be added to the rent. For the Extension, from Plainville to the State line, with Branches to Collinsville to Tariffville, in all about 28 miles, a subsequent contract was entered into on the 16th Feb., 1850, which provided that the New York and New Haven Railroad should pay an absolute rental of $40,000 annually. Under this agreement this Company, for the first six years, made a loss of $146,721, to which should have been added, according to its own estimate, $40,000 for items not included in the accounts against the leased road. The loss for the past four years has been $109,721. On the 30th April, 1849, an agreement was entered into between the New York and New Haven and the Hartford and New Haven Railroad Companies, to continue till 1st July, 1869, which provided, among other things, that the Hartford and New Haven Company should run its trains to the sta tion of the latter in New Haven, (with the exception of one train to the night line of steamboats to New York); to discontinue the maintenance of a day line of steamboats to New York, and to charge on the night line to New York a fare not more than 50 cents less, per passenger, than that over the New York New and Haven road. In consideration of these agreements the New York and New Haven Company agreed to supply the depot accommodations at New Haven; the use of its track between Grand street Junetion and the station in New Haven; and for the withdrawal of the boats, $20,000 annually for five years-one-half to the Hartford and New Haven Company, and one-half to the Connecticut River Steamboat Company. By subsequent contracts, which refer to the one already described, the New York and New Haven agreed to discourage the extension of the New Haven and Northampton Railroad northwardly, in consideration of which, and of other agreements, the Hartford and New Haven Company agreed to pay to the New York and New Haven Railroad Company, on account of the lease of the New Haven and Northampton Railroad, $12,000 annually from the 1st March, 1850, to the 1st July, 1869. The latter road has been extended by other companies to Northampton, Massachusetts, the whole line being run by the New York and New Haven Company. The agreement also provided that neither Company should be at liberty to make any such ar rangement of their trains or prices, or with other companies, as would have a tendency to draw away the business of the road of the other. SHARE CAPITAL-Authorized, $3,000,000, in 30,000 $100 shares. In 1854 an over-issue of shares to the amount of about $2,000,000 was discovered to have been made by its President and Transfer Agent. The recognition of this over-issue has up to the present time been successfully resisted by the Company, so far as they can be traced. They are not included in the above statement of Share Capital. FUNDED DEBT $2,219,000: in detail as follows ..$930,000 1st Mortgage, 6 per cent., coupon bonds_ -dated 1st October, 1855, and payable, principal 1st October, 1875; interest semi-annually, 1st April and 1st Oct., in New York. Under this mortgage the Company has authority to issue bonds to the amount of $3,000,000. Seven per cent., coupon bonds. - . -$964,000 -issued at various dates in 1852-3 and 4, and payable 1st December, 1866; interest payable 1st June and 1st December in New York. Seven per cent., coupon bonds_- -$311,000 -issued in 1851, at various dates, and payable 1st December, 1860; interest payable on the 1st June and 1st December in New York. Six per cent., coupon bonds........ -$14,000 -dated 1st January, 1851, and payable 1st January, 1861; interest payable 1st January and 1st July in New York. COST OF ROAD AND EQUIPMENT $5,324,769: in detail as follows— INCOME ACCOUNT FOR THE YEAR ENDING 31ST MARCH, 1859. 358,354 .$252,972 408,577 827,620 -$198,114 ..... 157,950 Repairs of road.. 76,767 45,945 แ "rolling stock. 114,285 Fuel, oil and waste.. 95,181 Horse-power.... 28,511 Loss operations, Canal Railroad. 32,500 Interest on bonds. 142,600 GENERAL LEDGER BALANCE SHEET, 1ST MARCH, 1859. $4,597,879 Capital stock.. Cr. $3,000,000 Rolling stock.. Real estate. .. .. .. 661,546 Mortgage Bonds...... 930,000 964,000 1st Dec., 1860. 311,000 55,500 66 Cash.. 31,447 1st Jan, 1861 Current accounts... Profit and loss.. 14,000 33,037 330,394 Operating Net Road,&c. age. Pass'r. Freight Mails. Total. expenses. Earnings. $ p. c. 1850 $3,005,395 62 25 $354,484 $9,649 $14,029 $378,162 $199,748 $178,414 $174 930 7 1851. 3,540,085 62.25 564,355 (1,266 11,685 647,306 398,661 258,645 174,930 7 1852. 4,640,000 62.25 555,215 113,005 11,433 679,653 424,899 1853. 4,973,487 62.25 610,550 108,877 20,007 739,434 1854. 875,525 5,131,948 62.25 716,436 127,340 31,749 1855. 5,179,010 62.25 703,676 135,874 43,192 1856. 5,169,779 62.25 687,976 152,048 44,282 1857. 5,190,178 62.25 749,324 175,937 46,447 1858. 5,342,487 62.25 663,149 138,084 53,761 1859. 5,324,769 62.25 624,795 157,950 45,947 828,692 545,359 -Div. 10 yrs $47,497,138 622.50 6,229,960 1,190,030 322,532 7,742,522 4,868,409 2,874,113 738,974 26 Aver. 4,749,713 62.25 622,996 119,003 32,253 774,242 486,846 287,411 73,897 2.6 NOTE. The above statement does not include the earnings nor current expenses of the New Haven and Northampton Railroad; but it includes the loss to the New York and New Haven Company, on account of the lease, which for the first six years averaged $24,453, and for the last four years, $27,430, making in the aggregate, $256,442. The statement includes in expenses, the amount paid to the New York and Harlem Company for hauling the cars of the former in the City of New York, which have averaged $39,931, amounting in the aggregate to $399,315. The sums paid the Harlem Company for the use of its road is not embraced in either the receipts or expenses. The loss by the Norwalk accident not included in expenses was $376,842. NORWICH AND WORCESTER RAILROAD. (Financial year ending 30th November, 1859.) BOARD OF DIRECTORS AND OFFICERS, 1859-60. J. Newton Perkins.. New York City, N.Y. | Charles Johnson.. John A. Weeks..... V. Worthington............. Jedediah Huntington....... Norwich, Ct. | Alex. DeWitt.. AUGUSTUS BREWSTER, President.. P. ST. M. ANDREWS, Superintendent. PRINCIPAL OFFICE.... LENGTH OF ROAD-Norwich, Ct., to Worcester, Mass Allen's Point Extension.... Second track, 1.80 mile. Sidings and other track, 6.70 miles. ROLLING STOCK-Locomotive engines.... 7.00 14 Cars-Passenger, 17; baggage, 3, freight, 258; gravel, etc., 21..... 299 The Norwich and Worcester Railroad Company is a consolidation of the Boston, Norwich and New London Railroad Company, chartered in Connecticut in May, 1832, and the Worcester and Norwich Railroad Company, chartered in Massachusetts in March, 1833. The legislatures of the two States passed separate acts in May, 1836, authorizing the union, and constituting the stockholders of the companies severally stockholders of the consolidated company under the title of the Norwich and Worcester Railroad Company. The new Company was organized early in 1837, and during that and the next year was engaged in making surveys and contracting for the construction of the road, which was completed and opened for business early in 1840. SHARE CAPITAL-Authorized, $2,825,000, in 28,250 $100 shares. Paid in, $2,122,500, in 21,225 FUNDED DEBT $714,998; classified as follows แ -$400,000 1st Mortgage (State Loan), 6 per cent., coupon bonds.__. -dated 1st July, 1857, and payable, principal in 20 years, and coupons semiannually, 1st January and 1st July, at the State House, in Boston. This loan was originally made in 1837, for 20 years, at 5 per cent., and has been extended from the date of maturity for a second term. The premium on the bonds sold was set apart as a sinking fund, to which $10,000 are added annually from net earnings. This fund now amounts to $53,500. 2d Mortgage, 6 per cent., coupon bonds -$205,800 -dated 1st August, 1845, and payable, principal 1st August, 1860, and coupons semi-annually, 1st February and 1st August, at the American Exchange Bank, New York City. Present amount of sinking fund, $34,296. Of these bonds, $142,000 are held by the Norwich Savings' Bank, and are to be paid by annual contributions of $5,000, in addition to interest. Extension 1st Mortgage, 7 per cent., bonds. $16,000 -dated 1st January, 1850, and payable, principal 1st January, 1860, and NOTE. In the statement for 1851, the previous earnings are included. interest semi-annually, 1st January and 1st July. These bonds have been paid since the 30th November, 1859. General Mortgage, 7 per cent., coupon bonds_ -$93,198 -dated 1st, 1847, and payable, principal 1st December, 1864 and 1874, and interest semi-annually, 1st June and 1st December, at the Farmer's Loan and Trust Company, in New York City. Of these bonds $30,000 are due 1st December 1864, and $63,198 1st December, 1874. FLOATING DEBT $14,079. COST OF ROAD AND EQUIPMENT $2,613,694: in detail as follows— INCOME ACCOUNT FOR THE YEAR ENDING 30TH NOVEMBER, 1859. Cost Year. of Road. Mile -Gross Earnings 1840 $1,777,471 Operating Earnings. age. Pass'gers. Freight. Mails, etc. Total. Expenses. less exp. 66 00 $78,889 $33,754 $3,844 $116,517 $52,503 $64,014 99,332 50,594 3,335 155,261 79,805 76,456 157,358 75,195 1843. 2,166,566 66 00 95,856 135,654 76,436 80,412 77,665 10,442 110,750 12,250 204,308 89,621 241,909 118.387 114,687 45,000 3 123,522 nil. nil. 1855. 2,596,153 1856 2,598,677 1857 2,616,811 1858. 2,613.694 1859 2,613,694 66.00 124,554 150,328 20 ys. 47,262,977 1320.00 2,301,565 2,350,533 298,737 4,950,835 2,801,666 2,149,169 552,192 Aver 2,363,149 66.00 115,078 117,526 14,937 247,541 140,083 107,458 27,609 11 LAWS OF THE STATE IN REFERENCE TO RAILROADS. List of all the Railroad Companies chartered in the State of Connecticut, 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 signifies that the work of construction has not been commenced. Abstracts of Laws. United with Blackstone and Southbridge, May. *BRANCH 1845, p. CHARLES RIVER (of Massachusetts). 1856, p. *DANBURY & NEW YORK. 1849, p. May unite with New York and Boston, May May unite with Worcester and Norwich, May. DANBURY & NORWALK 1850, p. Act of incorporation, May. EAST THOMPSON 1853, p. Act of incorporation, May. 1356, p. 1858, Time for completion extended, May Charter revived, June 9. Act of incorporation, May. Relative to the charter, May. Changed to Danbury and Norwalk, May. Act of incorporation, May. Authorized to extend branch, May. Authorized to purchase steamboats, May. Authorized to borrow money, May. Act of incorporation, May. Time for construction extended, May. Time for construction extended, May. Act of incorporation, May. Relative to Directors, December. Time extended for completion, May. Authorized to issue bonds, May. Authorized to own steamboats, May. Authorized to extend road, October. Changed to New Haven and Hartford, May. Charter amended, May. Authorized to borrow money, May. Time for completion extended, May 1849, p. Relative to suits, May. 1849, p. Time for completion extended, May. แ 1849, p. May unite with New York and Hartford, May 1850, p. HARTFORD, PROVIDENCE & FISHLILL 1849, p. Loan credit of the City of Hartford, May. Union of New York and Hartford and Hartford and Providence Companies, May. Charter amended, May. Time of annual meeting changed, May. United with Providence and Plainfield, May. Authorized to Issue bonds, June 17. May take stock in Mass. Extension, May. Act of incorporation, May. Relative to construction of road, May. |