that portion of the New Haven, New London and Stonington Railroad between New London and Stonington, at one-half its gross earnings. SHARE CAPITAL-Authorized and paid in, $1,508,000 in 15,080 $100 shares. A stockholder on subscribing and paying 4 shares of new, and on surrendering 25 of old, was entitled to receive 29 shares of preferred. All the stockholders availed themselves of this privilege, and the share capital, consequently, is now of one class. FUNDED DEBT-$312,900: described as follows 1st Mortgage, 6 per cent., bonds.. -$312,900 -dated 1st August, 1843, and payable, principal in 20 years, and interest semi-annually, 1st February and 1st August, in New York City. The Company holds $6,000 of this issue; and $400 are due but not presented. COST OF ROAD AND EQUIPMENT $2,158,000. INCOME ACCOUNT FOR THE YEAR ENDING 31st August, 1858. The Company publish no general statement. COST, NET EARNINGS, EXPENSES, ETC., YEARLY. 1848.. 1,886,650 50 117,908 56,469 1849. 2,094,280 50 117,777 56,479 Cost of Miles. -Gross Earnings-Operating Net Year. Road, &c. of Road. Pass'r. Freight. Mails, etc. Total. expenses. Earnings, 1844. $1,940,000 50 $102,138 $39,762 $12,824 $154,724 $111,410 $43,314 nil. 1845. 1,919,740 50 78,569 13,860 37,586 130,015 88,699 41,316 1846.. 1,902,140 50 86,049 41,796 10,997 138,842 1847.. 1,899,300 50 129,128 57,056 12,523 198,707 6,764 181,141 6,754 181,010 -Div $ แ 91.031 47,811 32,500 24 77,824 120,883 65,000 5 86,104 95,037 65,000 5 86,230 95,780 19,500 1# 91,197 95,313 nil. nil. 89,508 117,740 75,019 5 99,359 112,051 75,384 95,810 144,761 105,559 557 5 7 289,115 1855. 1,954,700 50 1856. 1,909,700 50 1857.. 1,866,700 50 1858.. 1,836,500 50 154,667 107,776 9,904 272,347 96,374 74,056 8,943 249,656 68,887 169.981 102,366 37,692 2 37,692 24 37,692 24 1859. 1,820,900 50 147,079 104,574 16 yrs. 30,956,902 800 2,037,897 1,154,805 153,279 3,345,981 1,793,122 1,552,859 709,353 Aver 1,934,806 50 127,368 72,175 9,530 209,123 112,070 97,053 44,334 PROVIDENCE AND PLAINFIELD RAILROAD. PROVIDENCE AND WORCESTER RAILROAD. 3 PROVIDENCE, WARREN AND BRISTOL RAILROAD. BOARD OF DIRECTORS AND OFFICERS, 1859-60. .... .... Thomas G. Turner. Marshall Wood.... CHARLES T. CHILD, President.. LEON CHAPPOTIN, Treasurer and Secretary. Providence, R,I. William Goddard. .... L. M. E. STONE, Superintendent and Chief Engineer.... PRINCIPAL OFFICE ..... .Bristol, .Springfield, Mass. Warren, R.I. .Providence, "C LENGTH OF ROAD-India Point, East Providence, to Bristol, R.I..... ..12.60 miles. ROLLING STOCK-Merchandise cars, 3, and gravel cars, 2.... 5 The Providence, Warren and Bristol Railroad Company is a consolidation of two companies of the same name, the one charteted by the Rhode Island Legislature in October, 1846, and the other by the Massachusetts Legislature in April, 1847. The United Company was organized on the 9th July, 1853, and in September the work of construction was commenced. The road was completed and opened for public use in the summer of 1855. SHARE CAPITAL-Authorized and issued, $292,000, in 2,920 $100 shares. $287,917, on FUNDED DEBT... Paid in, -making a total debt of $146,075, all of which has been retired by an issue in January, 1860, of $150,000 preferred stock, bearing 6 per cent. interest per annum, payable out of the net earnings of the Company. COST OF ROAD AND EQUIPMENT, ETC.-$437,667 in detail as follows INCOME ACCOUNT FOR THE YEAR ENDING 30TH NOVEMBER, 1859. $81.816 1.558 14,846 22,514 Pass'r. Freight. Mails, &c. Total. expenses. less exp. 8 p. c. nil. nil. 66 66 3,542 46 " 1,278 แ แ 5 yrs 2,150,721 68.0 102.963 23,750 4,733 131,446 30,844 44 *Exclusive of charges for locomotives and cars, provided by the Boston and Providence Railroad Campany, which are not stated, and for which the "net earnings" are liable. NEW YORK AND BOSTON RAILROAD. LENGTH OF ROAD-State Line of Connecticut to State Line of Mass.... 32.50 miles. The Woonsocket Union Railroad Company was chartered in August, 1850, with a capital of $650,000, and consolidated into the New York and Boston Railroad Company of Connecticut under the corporate name of the latter in the year 1854. In the following year the joint company united with the Charles River Railroad of Massachusetts. The object of this road is to make a direct route from New York, via New Haven to the city of Boston. The latest report of the Company is that made to the stockholders on the 3d October, 1856. Since then nothing further has been effected in the construction of the work. The financial condition of the Rhode Island Company, according to the report of 1856 (the last published), was as follows GENERAL STATEMENT, 3D OCTOBER, 1859. LAWS OF THE STATE IN REFERENCE TO RAILROADS. List of all the Railroad Companies chartered in the State of Rhode Island, 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. Corporate Titles. BOSTON & PROVIDENCE RR. & TRANS Laws. Abstracts of Laws. May construct road over Seekonk River, Jan. May maintain ferry over Provid'ce River, Oct. Act of incorporation, May. 1835, p. 66 66 1837, p. 1842, p. 1851, p. 1853, p. *FALL RIVER & PROVIDENCE. HARTFORD, PROVIDENCE & FISHKILL 1835, p. 1859, p. 46 1860, p. *NEW BEDFORD & FALL RIVER. NEW YORK & BOSTON. 1836, p. 1851, p. 1858, p. 1858, p. NEW YORK, PROVIDENCE & BOSTON 1832, p. *NEWPORT & FALL RIVER. *PROVIDENCE & BRISTOL· Kelative to bonds, January. Time of filing claims against, extended, Jan. Authorized to increase capital stock, June. New London and Stonington RR., May. May unite with N.York and Stonington, June May extend road into Providence, January. Relative to construction of road, etc., October. Act of incorporation. May Time for organizing extended, January. Authorized to construct a railroad, January. Supplement to act of incorporation, January. Relative to powers, January. Amends act of incorporation, January. Act of incorporation, October. 1833, p. 1836, p. 1840, p. 1841, p. 1846, p. 1847, p. 1846, p. 1849, p. *PAWTUCKET & PROV. E. TURNPIKE 1837, p. 1837, p. PROVIDENCE & BOSTON.. 1831, p. 1832, p. 1833, p. 1850, p. 1852. p. 1856, p. PROVIDENCE & PLAINFIELD.. 1846, p. 1851, p. 1851, p. City of Providence authorized to loan to, Jan. 1852, p. PROVIDENCE, WARREN & BRISTOL. 1852, p. 1853, p. *PROV., WARREN & FALL RIVER.. PROVIDENCE & WORCESTER. 1846, p. Act of incorporation, October. 1844, p. 1845, p. 1845, p. 1852, p 1832, p. แ Changed to Prov., Warren and Bristol, Jan. Authorized to issue scrip, January. Act of incorporation, June. Authorized to borrow money, January. United with Hartford, Prov., & Fishkill, Jan. Changed from Providence and Bristol, June. Time for location extended, May. Act of incorporation, May. Relative to shares, June. Relative to the powers of, October. Relative to placing flagman at crossing, Oct. 1856, p. 158 Relative to payment of witnesses, January. 1859, p. 38 Charter amended, May. Act of incorporation, June. Relative to completion of road, August. Charter amended, August. 1848, p. 1850, p. 1850, p. 1852, p. 1852, p. WOONSOCKET UNION... 1850, p. All doings of stockholders legalized, October. Time for location extended June. The Railroad first constructed in the State of Connecticut was the Hartford and New Haven, which was commenced in 1836, and about one-half of the distance between Hartford and New Haven opened in 1838. It was completed between these points in 1839. In 1844, the entire line from New Haven to Springfield was opened. It has since its completion been a successful work, having paid dividends at the average rate of 10 per cent. per annum. The Railroad next opened was the Norwich and Worcester, which was completed for its whole length early in 1840. It has not been a productive work to its stockholders, having paid dividends at the rate of only 1.5 per cent. The third Railroad opened was the Housatonic. Its construction was commenced in 1837, and completed in 1842. It has been an unfortunate enterprise, having paid nothing to the holders of its common stock, and nothing on its preferred stock since April, 1850. One cause of its ill-success has been the leases taken of the Berkshire, and Stockbridge and Pittsfield Railroads, on which the Housatonic Company pays 7 per cent. on the cost of these roads, which form the least productive part of its line. The rent paid amounts in the aggregate to $74,407 annually, the greater part of which is probably a loss to the Housatonic Company. The fourth Railroad was the New Haven and Northampton, a portion of which, to Plainville, was opened in 1847. It was completed to Granby in 1850. In that year it was leased till 1869 to the New York and New Haven, at a rental which has averaged about $71,000 annually. The road has been run in the mean time at a loss, after payment of rent, of $37,687 annually. The entire loss to the New York and New Haven, and Hartford and New Haven Companies for 10 years past on account of this lease has probably equaled $500,000. The case is a good illustration of the danger of entering into leases having a long time to run, for the absolute payment of large sums where the amount of income of the leased road is a mere matter of estimation. The rent paid has enabled a road, otherwise unpro |