Rents Received from Lease of Tracks, Yards and Terminals.

(Page 43.)

OPERATING EXPENSES.

MAINTENANCE OF WAY AND STRUCTUres.

Repairs of roadway.

Renewals of rails..

Renewals of ties.

Repairs and renewals of bridges and culverts...

Repairs and renewals of fences, road crossings, signs, and cattle guards.

Repairs and renewals of buildings and fixtures
Repairs and renewals of docks and wharves.......
Repairs and renewals of telegraph....
Stationery and printing..

Total.........

Amount. $550, 335.67 54,682.80 183, 721.18 213, 469.80 15,723.14 103, 326.91 672.38 13, 163.03 519.02

$1, 135, 613.93

Rents Paid for Lease of Tracks, Yards and Terminals.

(Page 53.)

IMPORTANT CHANGES DURING THE YEAR-STATE OF MINNESOTA.

Here present statements as follows: 1. All extensions of road put in operation. 2. Decrease in mileage by line abandoned or line straightened. 3. All other important physical changes. 4. All leases taken or surrendered. 5. All consolidations or reorganizations effected. 6. All new stocks issued. 7. All new bonds issued. 8. All other important financial changes.

At a regular meeting of the board of directors, held in Hudson, Wisconsin, on the date of the annual meeting of the stockholders, on June 8, 1895, action was taken giving authority for the purchase and absorption of the property and franchises of the Superior Short Line Railway Company consisting of its railroad extending from Duluth to a junction with this company's line at the city of Superior, Wisconsin, with approximately ten miles of main line and thirty-three miles of side tracks, including station grounds, lots and lands in the cities of Duluth and Superior, docks, wharves, basins, depots, structures and other improvements comprising its valuable terminal property and facilities; all of which were acquired and constructed under and with the approval of this company and with its moneys advanced for these purposes since the extension of its railroad to Lake Superior, and have been employed, utilized and operated by this company under separate corporate organizations and constituted as the Superior Short Line Railway Company. The said action of the Board of Directors was taken subject to the consent and approval of the stockholders, to whom, in annual meeting assembled, the same was on that date submitted; whereupon the proposed purchase, as authorized by the directors, was consented to and approved by unanimous vote of the stockholders, and the directors and officers of this company were authorized to consummate the same. Pursuant to these proceedings the transaction was completed and the conveyance and transfer of the railroad, property and franchises of the Superior Short Line Railway Company were made and perfected and the Superior Short Line Railway Company became merged into the Chicago, St. Paul, Minneapolis & Omaha Railway Company on the first day of August, 1895.

With this consolidation and merger a settlement was effected with the Superior Short Line Railway Company in adjustment of accounts and for advances made for construction, and $1,500,000 of its first mortgage 5 per cent bonds, secured upon the property, were taken in consideration of the settlement, which bonds now form an available asset of this company.