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July

60 @ 64 100%@105% 107 @115% 85 @ 88% August.

6244269% 102%@111% 10%%6112% 80 OD 87% September..

67%983 102 1084 101 @109 82 @ 86 October.

80 (93 104 @105% 100 @104 2 86 November

87 692 99%9105 100 106% 82 ( 844 December..

90% 0.97 10%@103% 99740105 81%@109% Year......

52%@97 93 @111% 99%@116 70 @109% In the number for March, 1866, will be found a history of the Erie Company, to whicb the reader is referred for furtber information.

CENTRAL RAILROAD OF NEW JERSEY.

The Central Railroad of New Jersey, one of the great through roads across that State, may be characterized at the close of each year as follows:

1859. 1860. 1861, 1862. '63. '64. '65. Main Line-Phi'lipeburg to Elizabethport..

miles 64 64 64 61 Extension-Elizabeth City to Jersey City

10 10 Total length of route

64 61 64 64 64 74 74 Second track

49

49 56 64 Sideings (including equivalent third track)..

56 61

68

71 77 Total equivalent single track..

169 174 177 188 197 219 232

49

64

69

Originally this was almost entirely a local road, and dependent on the New Jersey Railroad for an entrance into Jersey City. The construction of an extension in 1863-4 made it independent in this respect, and the opening of new roads in Pennsylvania bas given it an outlet to the West. It has thus become a favorite route for passengers to and froin the interior. The construction of the South Branch from Somerville to Fiemington, gives it a more Southern terminus through Lambertville and Trenton to Philadelphia, and it is possible that a better route to that city may be furnished by the construction of a short line between Lambertville and Doylestown, the terminus of a branch of the North Pennsylvania Railroad. The improvements already completed have more than doubled its general traffic in the past three or four years. But the great value of the road lies in its coal-carrying business, commenced ten years ago, and now aggregating a million tons a year. The mineral is brought both from the Lehigh and Lackawanna regions, that from the former being shipped at Phillipsburg, and that from the latter comes to the road at Hampton, the point of junction of the Warren Railroad, an extension into New Jersey of the Delaware, Lackawaona and Western Railroad. The depot of this trade is at Elizabethport, whence the coal is shipped to New York and other markets. The last named is a wide gauge road, and to accom. modate its cars the Central Company have laid down a third rail on both its tracks from Hampton to Elizabethport. The accommodations for the trade at Elizabethport are very efficient, and the works there bave cost large sums. lodeed, it may here be stated, that the road itself has scarcely cost one half the aggregate expenditures of the company. The wharves and works at Elizabethport, Port Johnston, and Coinmunipaw, and the ferry interests, lands, and miscellaneous properties make up the other moiety of the general cost. To understand the grand progress of the w rks counected with this road, it is only necessary to state, that at the inauguration of the coal trade in 1856, the capital (shares and bonds) of the company was only $4,500,000; it is now more than $12,000,000, and probably three million more will be required to complete the immediate projects now being carried out by the company. In one year-the last of record—the cost of the company's property rose from $114,865 to $164,796 per mile of road, and yet so liberal were the nett earnings, that the usual «lividend o 10 per cent was paid on the increased capital. The accounts which follow show the progress of the capital, business, and general interests of the company, yearly, for the seven years ending December 31, 1865.

The rolling stock-engines and cars-owned by the company at the close of each year, is shown in the following statement : Fiscal

-Equivalent in 8-wheel cars.

No. o motives. Pass. Bag., &c. Freights. Coal. Work'g. cars

:::

277 1861

Loco

years. 1859. 1860

276

7 8

82 38 89 38 51 59 65

1862 1863 1864 1865

21 21 21 20 22 84 52

196 196 219 246 807 813 808

26 26 29 29 80

200 200 860 461

807 560 604

932 1,223

11 17

71

The reports give no detailed statement of the ferry property, boats, &c. The works both at Jersey City and New York are still incomplete,

ROAD AND FERRY SERVICE.

The following statements exhibits the mileage of trains and ferry-boats, the number and mileage of passengers, and the tons and mileage of merchandise, coal and iron yearly. Mileage of engines hauling trains and of ferry-boats :

Miles -Miles runs by Transportation Work- Total New run by Fiscal

trains ing miles of Jersey ferry years.

Pass'ger. Merch'se. Coal. Total. trains. engines. R.R. * boats. 1859. 141,918 110,827 276,490 529, 235 25,637 564.872

42,528 1860.

152,518 133, 63 876,476 662,757 83,010 695,767 40,152 88,187 1861.

181,446 144,055 317,573 643,074 19,219 662,393 45.890 86,888 1862.

201.833 146,136 30:1,363 657,332 29,872 687,201 53,684 47.656 1863.

214,483 187, 159 883,451 785,093 26.917 8!2,041 59,164 38,528 1864. 290,611 177,688 415,740 8-4,069 63,949 948,218

89.047 1865.

431,834 230,361 393,693 1,055,388 132,590 1,187,978 47,072

Number of passengers and tons of freight carried, and the mileage thereof:
Fiscal
-Passengers Merchan'ses Iron--

-Coal years.

Number. Mil'ge. Tons. Mil'ge. Tons. Mil'ge. Tons. Mil'ge. 1859.

405,939 8,081 145,357 6,211 43,061 2,756 638,958 32,998 1810.

429.288 9,433 151,378 6,908 55,355 3,525 864,769 46,616 1861

401,634 10,02 162,382 8,996 56.690 3,619 828,214 42,907 1862.

419.803 11,760 196,985 11,168 70,202 4,487 816,570 43,448 1843..

629.017 13,182 263,625 13,540 80.253 5,172 1.049,881 66,795

698,88 19.397 272,266 14,611 69,225 4,430 1,149,964 62,372 1805.

928,806 23,832 317,181 17,338 75,469 4,830 1,004,506 55,683

1864

The merchandise is expressed in tons of 2,000, and the iron and coal in tons of 2,240 lbs. The mileage is stated in thousands (1.000'us) of miles

The coal toppage of the road yearly, since the transportation of coal was commenced, bas b en as follows: Lacka

LackaYear. wanna. Lehigh. Total. Year.

Wanna. Leblgh. Total. 1856. 98,670 33,325 131,995 1861

518.869 251,345 823,214 1857 209,950 84,841 294,791 1862

602.375 314,195 816,570 1868. 417.786 122,923 540,649 1863.

613,954 435,927 1,049,281 1859 455,681 183,277 638,958 1864.

675,743 474,221 1.149.964 1860. 590,63 263,906 854,769|1865.

494.687 509,819 1,004,506 Total since commencement of business, 10 years...

.4,628,518 2,676, 779 7,305,297

* Mileage of passenger trains run on New Jersey Railroad between Jersey City and Elizabeth drawn by engines of that company. Since 1863 these trains have passed over the new extension of the company's railroad.

TRANSPORTATION ACCOUNT-EARNINGS, EXPENSES, &0. The following is a statement of the receipts and expenses yearly for the same seven years : Fiscal

-Gross earnings.

Operating Net years. Passenger. Freight. Coal. Mail, &c.

Total. expenses. earnings. 1859.

$187,227 $336,635 $132,422 $15,419 $971,702 $385,716 $585,986 1860.

206,281 362,482 597,824 19,761 1,185,848 475,457 710,391 1861.

222,090 382,599 568,276 28,930 1,201,895 522,452 679,443 1862

230,305 481,977 661,281 24.024 1,397,587 623.215 774,313 1863

287,959 605,335 1,021,152 27.530 1,921,976 814,732 1,127,244 1864.

488,224 731,722 1,317,954 39,284 2,537,184 1,231,554 1,305,630 1865.

688,774 898,287 1,388,493 60,836 3,036,390 1,748,438 1,257,952 Against net earnings are charged, as follows: Fiscal

Taxes

Interest Deprec'tion, Dividends Surplns years.

State.

U.S.

paid. renewals, &c. on stock. income. 1859

$23,740

$250,385 $91.660 $220,300 1850

24.502

192,037 40,218 361,460 92,174 1861

24,517

139,296 71.949 863,000 80,681 1862

24,523 8,263 142,512 175,723 863,000 60,321 1863.

21,576 21,731 147,712 186,568 401,578 345,079 1861 26,417 49,602 155,134

569,573 504,804 1865.

31,219
90, 41

170,859 134,156 861,676

An extra dividend of 10 per cent, amounting to $515,000, was paid for 1863 from the surplus iocome, the balance of which at the end of that year was $578,255. By this operation the balance was reduced to $63,255. The surplus of 1864, $504,904, made the total to credit at the end of that year $568,159, at which it still remains, the net earnings for 1865 having been entirely consumed. The surplus income appears in the ledger under the title of " renewal fund," but this includes $60,000 transferred to it in 1863 being the amount of premium on sale of new stock.

GENERAL ACCOUNT-BALANCE SHEET.

Paid up

The financial condition of the Company as shown in the Yearly Balance Sheet is exhibited in the following statement : Close of

Funded Acc'ts -Accr'd to date, Renew'd Total year.

capital. debt pavable, divid'ds interest. fund. amount. 1859 $2.319.000 $3,235,000 $37,761 $61,300 $.

$5,255,061 1860. 3,630,000 2,000,000 35,335 90, 750 47,833 92,174

5,896,092 1861

3,63),000 2,000,000 29,053 90.730 47,833 172,855 5.970,496 1862.

3.630,000 2,000,000 320.434 90,750 47.833 233,176 6,122,193 1863.

4,620,000 2.000,000 292.277 110,355 47,833 638,255 7,708,880 1861..

6,500,000 2,000,000 429,319 159, 118 47,833 629, 159 9.764,509 1865.

10,685,940 1,509,000 643,665 261,721 33,250 628, 159 13,661,735 Against which are charged as follows, viz.:

Lande, docks, Cash and Close of

Railroad Statione, Engines Ferry int. : & mixed Mat'ls cash year,

account, wh’ves,&c. & cars, boats,&c. prop'ty. on hand. items. 1859

$4,480,897 $119.517 $ 142,700 $246,450 $35,041 $87,773 $42,679 1860.

4,480,897 422,514 489,500 216,650 : 5,044 101,528 119.959 1861

4,48(1,897 423,771 504,500 252.650 97.258 -76,500 131,920 1862.

4,4-0,197 431,355 606,542 217,050 375,511 79,552 128,286 1363.

4.844,874 438,476 773.000 807,150 $20.967 99.834 421.579 1864.

5 519.011 721,916 1.078,538 551,343 1,405,655 122.649 359,397

6,106 957 1,292,722 1,283,772 604,587 3,845,525 121,674 406,498 Under the caption of “Stations, Whar ves, &c.,' are included the following, viz ; station houses, shops and water-stations ; lands and works at Elizabethport; Port Johoston coal wharves, and the Communipaw filling and bulkheads, the cost of which in 1864 is stated at $218,736 ; $801,856 ; $187,011 and 585,119 respectively.

1865......

PROPORTIONAL DEDUCTIONS.

The following, deduced from the above, exhibits the amount of capital (stock and bonds) expended per mile of road, the earnings, expenses and profits per mile, the proportion of expenses to earnings and of profits to capital, and the rate per cent of dividends on stock, yearly, for the seven last years : Fiscal

Capital Amount per mile. Exp. to Profits to Divid'd year.

per mile. Earni'gs. Expens's. Frofits. earnings. capital. p. c. 1859.

$88,234 $15,183 $6,027 $9,156 83.07 10.88 10 1860.

87,970 18,530 7,429 11,101 40.16 12 62 10 186 87,970 18,779 8,163 10,66

12.07

10 1862.

87,970 21,837 9,738 12,099 44.67 13.75 10 1863

103, 437

12,730 17.613 41.95 17.03 10 & 10ext 1864.

114.865 84,286 16,642 17.644 4.51 15.35 10 1865. 164,796 41,032 23,627

17,405 57.62

10.56 10

30,343

PRICE OF STOCK AT NEW YORK.

1860.

1803.

1861.

1845.

....0..

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July

The following statement exhibits the monthly range of price at which the company's stock gold at New York : Months.

1861. 1862. January.

98 @100 1071@110 114@119 February.

99 @ 1055 110 115 121122 170@170 March

1031 @ 105 115 116

...@... 175 176 175 (C175 April..

105 @112 110 @115
.....

....! May.

112 @115 105 1064 June

116 @120 108 a 112

116 116 110 112 13000 130 August.. 113 @113 ..@.. ...... 1650 165

120 124 Septemb'r.. 116 117 110 C112

....... 122 ( 125 October..

115 @ 115 113 @113
1500150

12 01:31 November 100 0114 113 114 150 150

120 121 December..

105 @110
1550 155

118 (122 Year....

98 @120 105 116 114@155 165@175 The origin of the Central Railroad was extremely bumble, but by consolidation and extension it has become one of the best properties in the Union. The Elizabeth and Somerville Railroad (25 miles) was cbartered in 1881 and completed in 1839. The Somervile & Easton Railroad was chartered in 1847, and subsequently (in 1849; was authorized to purchase the first named road and change its title to that of the Ceatral Railroad of New Jersey. Under the original charter nine and a half miles of road from Somerville to Whitehouse had already been constructed. In July, 1850, these two Companies were consolidated, and in September the construction of the remaining portion of the chartered route commenced. This was completed and the road opened to Phillipsburg on the Delaware July 2, 1852. The cost of the road to this date had beeu about $3,000,000 and to the end of the years 1851-5 the cost had risen only to $3,750,000.

The completion of the roads leading from the Lehigh & Lackawana Coal regions gave a new impetus to the interests of the Central Company, and led to the forma

wbich the Central Railroad become the channel of their trade to Tew York. This was in 1865; and for the accommodation of this business suitable and extensive improvements were made. From Hampton where the Lackawanna road comes in to Elizabethport a third rail was laid down for the accommodation of the wide cars of that line and a large coal depot formed at Elizabethport. A second track (also with a third rail) was subsequently laid down, and eventually the second track was extended from Hampton to Phillipsburg for the better accommodation of the Lehigh Coal trade.

Until 1864 the passenger busine38 of the Central Company between Elizabeth and Jersey City was carried over the New Jersey Railroad for which privilege the Cen tral Company bad to pay fifteen cents per passenger. The freight business with New York was conducted by ferry boats between Elizabethport and that city. Undei this bigh charge and these circumstances the development of business could at best be a slow process. To remedy this drawback the Company determined on construct

ing an extension of their own road to Jersey City which was commenced in 1863 and completed in August 1864. This extension crosses Newark Bay and has been a very extensive undertaking. It also involved the establishment of an independent ferry to New York, &c. The Company are still proceeding with these and other improvements which when completed will have cost altogether about $15,000,000.

Notwithstanding the difficulties with which the Central Company have had to contend, and which are yet scarcely overcom , they have never, except in a single year failed to pay dividends. This exception was the year 1854-5 when the net earnings were devoted to construction. In 1852-3 they paid 5 per cent, in 1853-4 and 1855-6 7 per cent, and in 1856-7, 34 per cent. Since this period regular 10 per cent dividends have been paid, and in 1863 an extra dividend of 10 per cent. Under these circums'ances the stock of the Company has been a great favorite with investors and has always sold high in the market. Very little, however, is offered the great bulk being held for permanent investment.

NATIONAL AID TO AMERICAN STEAMSHIPS. A memorial has been presented to Congress, we are informed, from the Commercial Navigation Company of the State of New York asking for the passage of a law authorizing the Postmaster General to arrange and contract with them for the weekly conveyance of the foreign and European mails of the United States between New York and Liverpool, for a term not exceeding twelve years. The proposition submitted by the Company is to establish a line consisting of seven sea-going steamships, two of them of two thousad and five of three thousand tons, all to be constructed in the best manner with all known modern improvements in model, machinery and outfit, so as to secure the greatest possible speed and safety. The purpose is said to be to secure a speed of from twelve to fourteen marine miles an hour, with a draught of water which shall not exceed sixteen feet when loaded; and in the plan of con. struction, to have their decks, one extending the entire length of the ves. sel, giving passengers every proper comfort and convenience. These steam.ships when constructed will constitute a United States Mail Steamship Line for the conveyance of the mails; the times of sailing and other details to be arranged between the Company and the Postmaster General.

The compensation proposed for carrying the mails is the pos'age. It will be remembered that a contract with a steamship company running vessels between this country and Brazil, gives that company those terms. The Commercial Navigation Company, however, ask beyond this in view of the expenditure of about eight millions dollars, required for building, equipping and operating such a line of steamships, that the Postmaster General shall be authorized to guarantee the payment of their bonds to the amount of some $3,000,000. In order, however, to assure the Govern. ment against loss in this transaction, the company are to give to the United States a first lien upon the steamships, their tackle, apparel, inachinery and furniture, which will be, it is shown by the exhibits of the company, worth full double the amount of the obligations so assumed ; also, that the Postmaster-General shall receive all the moneys paid for postage on the mails so carried, applying it to pay the interest on the bonds, and retaining the excess for the liquidation of the principal till the

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