COST OF ROAD AND APPURTENANCES-$77,040: in detail as follows: Graduation and masonry.. ..$13,758 | Land, land damages and fences.. 4,446 All other expenses. GENERAL LEDGER BALANCE SHEET, 1ST JANUARY, 1860. : -$1.980 3,856 2,057 MARYLAND AND DELAWARE RAILROAD. (See Maryland and Delaware Railroad of Maryland.) NEWCASTLE AND FRENCHTOWN RAILROAD. LENGTH OF ROAD-Newcastle to Frenchtown... ..16,19 miles. The Newcastle and Frenchtown Railroad Company was chartered in 1829, and the road constructed in 1830-32. It extends from Newcastle, 35 miles below Philadelphia, to Frenchtown on Elk River, one of the head streams of Chesapeake Bay; and in connection with the steamboats on the Delaware and Chesapeake for many years formed a part of one of the principal routes between the north and south. In 1840 the road was merged into the Philadelphia, Wilmington and Baltimore Company by an exchange of stock, and has since been operated as a part of its works; but being within the State of Delaware, a separate organization is maintained, and separate accounts of operations rendered, Since the completion of the Newcastle and Wilming ton Railroad, the steamboat connections have been discontinued, and that portion of the road west of the Delaware Junction is also in disuse. SHARE CAPITAL-Paid in, $744,520, in 14,891 $50 shares. INCOME ACCOUNT FOR THE ELEVEN MONTHS ENDING 31ST OCTOBER, 1859. 10 Yrs. 8,398,105 Aver.. 839,810 987,246 9,385,351 8,323,644 161.90 623,313 52.936 9,427 685,476 792,560 98,724 938,535 832,364 16.19 62,331 5,293 942 68,547 79,256 NEWCASTLE AND WILMINGTON RAILROAD. LENGTH OF ROAD-Newcastle to Wilmington... .5 miles. The Newcastle and Wilmington Railroad Company was chartered in 1839 and the road constructed in 1854. From the date of its completion it has been operated under lease by the Philadelphia, Wilmington and Baltimore Company, which pays as rent therefor a sum equal to 7 per cent. on its cost of $150,000. This road is the connecting link between the railroads of Pennsylvania and Delaware. PHILADELPHIA, WILMINGTON AND BALTIMORE RR. (See Philadelphia, Wilmington and Baltimore Railroad of Pennsylvania.) WILMINGTON AND SUSQUEHANNA. (Now a part of the Philadelphia, Wilmington and Baltimore Railroad.) LENGTH OF ROAD-Wilmington, Del. to Havre de Grace, Md...................34 miles. The Wilmington and Susquehanna Railroad Company was chartered in January, 1832, with a capital of $400,000 in 8,000 shares. By an act passed in 1836, the company was authorized to consolidate with other companies, to increase its share-capital to $700,000, and to negociate loans. In accordance with the provisions of this act, articles of union were agreed to between the Wilmington and Susquehanna and the Delaware and Maryland companiesthe united interests taking the name of the former. This consolidation was consumated in April, 1836, and in the following year the whole line was opened for business. The Philadelphia, Wilmington and Baltimore, the Wilmington and Susquehanna, and the Baltimore and Port Deposit companies, owning the line between Philadelphia and Baltimore, in severalty, were consolidated in 1838. The articles of union, concluded on the 5th February of that year, merged the three corporations into one corporate body, under the style of "The Philadelphia, Wilmington and Baltimore Railroad Company," and their stocks into a common stock, etc.—the stock holders of the Wilmington and Susquehanna Company being entitled to 16,000 shares in the new company. That portion of the road in Delaware between Wilmington and the State Line of Pennsylvania was constructed by the Philadelphia and Wilmington Company. LAWS OF THE STATE IN REFERENCE TO RAILROADS. List of all the Railroad Companies chartered in the State of Delaware, 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. 26 Feb., 1849 1855 Charter revived. 1831 Act of incorporation. 1839 Charter extended. 1832 26 Jan., 1835 Act of incorporation : cap. $400,000. Supplement: may unite with roads in Pennsylvania and Maryland. Supplement: extends time for opening subscription to 1st Monday in October, 1855, and authorizes company to hold real-estate and steambeats. 24 July, 1835 Supplement: relating to proceedings, etc., and company to pay a tax to State of onequarter of one per cent. on original capital of $400,000. May unite with Delaware and Maryland Railroad Company. 17 June, 1836 Supplement: may increase share-capital and issue bonds, and the right of taxing additional capital reserved to the legislature. The Chesapeake and Delaware Canal was one of the first works of the kind undertaken in the United States. The near approach of the two great indentations of the coast formed by the Chesapeake and Delaware Bays naturally suggested their connection, by artificial means, for commercial purposes, as well as for the maintenance of internal communication in time of war. In 1808 a careful survey of the route was made to ascertain its feasibility for the proposed work, but nothing was done in the way of construction till 1824, when the route was finally located and the work commenced. It involved many difficulties and obstacles not anticipated, and its cost greatly exceeded the estimates, and it was not till the fall of 1829 that it was formally opened for business. For many years its revenues were small, and the finances of the company were in an embarrassed condition. It was not till some fifteen years after its opening that it earned the interest on its debts. Up to 1847 the amount overdue had reached the sum of $796,592. At that time the revenues of the canal had so increased as to afford a prospect that, for the future, the earnings would discharge the accruing interest, and a proposition was made to the bondholders to convert the arrears into certificates due in twenty years, from 1st July, 1847, which was acceded to. In 1853, a further loan, amounting to $195,900, was authorized and made for the construction of new locks. In 1856, the bonds of 1836, amounting to $1,593, 185, became due, and for the purpose of funding these, and consolidating all the liabilities of the company into one class, the canal and property of the company were mortgaged as security for a new issue of bonds to the amount of $2,800,000, due in thirty years, from 1st July, 1856, and into which all the different classes of indebtedness have been converted, with the exception of $72,056. Since 1847 the accruing interest has been regularly met. The canal commences in Delaware City, on the Delaware River, 42 miles below Philadelphia, and runs to Back Creek, a tributary of Elk River, which falls into the Chesapeake Bay, a distance of about 13 miles. It has three locks-one having a lift of 16 feet on the Chesapeake side, and two on the Delaware side of 8 feet each. The locks are 220 feet by 24 feet, and pass vessels drawing 9 feet water. There is also a tide lock at either terminus. The deepest cut is about 86 feet. The canal is supplied with water by pumping engines. It has a depth of 10 feet and a width of 66 feet. SHARE CAPITAL- Paid in $1,343,563, in $100 shares. 72 569 FUNDED DEBT $2,729,400: described as follows 1st Mortgage, 6 per cent., coupon bonds.. $2,657,343 -dated 1st July, 1856, and payable in 30 years; interest payable 1st Jan. and 1st July, in Philadelphia. Loan of 1836 (due 1856).. -$50,068 Loan of 1847 (due 1857)............. -$21,989 INCOME ACCOUNT FOR THE YEAR ENDING 31ST MAY, 1860. A GENERAL STATEMENT OF THE CHESAPEAKE AND DELAWARE CANAL COMPANY FROM ITS COMMENCEMENT. Timber. Grain. Flour. Groceries, Dry G'ds. cubic ft. bushels, barrels, lbs. lbs. Yr. end'g Tolls Total Pass- Coal Lumber. 1830.... $24,658 1837. 56.482 5,433 1838 1839. 1840.. 1841. 1842.. 1843 1944. 1845. 1846.. 1847. 1848. 20,400 24,423,780 1,200,000 67,495 131,760 6,568 20,627 9,189,000 1,066,000 67,518 120,260 6,034 21,293 13,921,300 928,340 54,113 112,430 4,363 13,305 11,336,200 1,454,450 69.415 125,980 6,384 13,748 9,381,140 1,012,000 78,008 139,520 7,528 12,501 13,128,260 1,226,460 66,018 127,200 5,973 10,629 11,447,880 772,600 98,014 188,410 8,413 12,763 25,926,210 1,011,540 889,300 78,150 15,456,026 13,298,084 97,559 195,040 8,778 17,625 21,886,400 1,125,000 957,915 62,491 16,578,368 15,568,715 101,208 291,380 9,684 17,506 25,097,300 570,600 1,536,214 84,000 19,587,027 20,036,630 167,510 341,580 12,054 29,276 38,616.500 2,026,300 1,981,511 154,573 25.440,044 21,321,585 186,285 338,800 12,810 36,175 49,374,400 1,641,000 1,141,360 115,639 28,518,000 24,489,430 1849. 173,030 351,550 11,802 39.314 42,548,300 1,944,340 1,667,262 91,910 27,918,910 21,520,932 1850.... 198,364 361,640 12,912 53,693 44,795,300 2,145,000 1,826,476 113,883 32,102,555 23,644,551 1851. 215,889 389,440 13,582 60,016 46,454,000 2,231,400 1,831,000 133,760 36,450,925 22,342,426 1852... 190,141 411,340 12,833 59.547 49,294,200 1,528,200 2,044,466 120,321 37,938,551 16,734,541 1853... 246,283 477,630 15,065 86,985 58,967,800 3,881,800 2,017,900 128,418 40,169,190 17,681,640 246,695 534,080 14,897 122,892 56,548,100 3,413,760 2,112,647 110,159 39,129,824 15,243,290 225,224 536,970 14.391 177,524 62,261,590 2,930,130 1,470.337 115,825 37,846,732 14,276,983 1856... 225.483 568,680 13,554 160,832 64,534,230 4,013,630 1,759,944 155,985 37,578,946 13,107,642 1857.... 229,081 616,170 14,628 202,983 65,144,450 2,899,700 1,908,359 201,391 36,641,696 14,755,419 1858.... 207,006 563,510 12,863 177,862 52,544,160 2,903,860 1,896,177 154,657 34,192,622 16,978,834 1859... 202,350 496,100 12,134 175,144 35,648.230 2,151,540 1,065,422 100,510 34.358,372 26,812,465 1860.... 193,404 58,832,882 3,142,530 1,645,589 147,630 43,071,816 31,302,765 1854. 1855. 216,256 623,150 12,710 |