J. E. Stagg, Durham, N. C.; George W. Watts, Durham, N. C.; J. C. Kilgo, Durham, N. C.; J. C. Angier, Apex, N. C.; H. E. Norris, Raleigh, N. C.; T. F. Wilkinson, Angier, N. C.; B. N. Duke, Durham, N. C.

PROPERTY OPERATED.

The Cape Fear and Northern Railway Co., from Apex, N. C., to Duke, N. C. (miles)

CURRENT ASSETS AND LIABILITIES.

34.81

Surplus on June 30, 1902 [from "General Balance Sheet," 1901 Report]

21,774.76

Additions for year------

9,004.60

Surplus on June 30, 1903 [for entry on "General Balance Sheet"]

30,779.36