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RAILROAD EARNINGS FOR JUNE AND SECOND QUARTER.

The gross earnings for the under specified railroads for the month of June, 1866 and 1867, and the difference (increase or decrease) between the two periods, are exbibited in the subjoined statement:

Railroads.
Atlantic and Great Western..
Chicago and Alton
Chicago and Great Eastern.....
Chica o and Northwestern
Chicago, Rock Island and Pacific
Cleveland and Toledo..
Erie
Minois Central
Marirtta and Cincinnati.
Michigan Central
Michigan Southern
Milwaukee and Prarie du Chien..
Milwaukee and St. Paul..
Obio and Mississippi .
Pittsburg, Fort Wayne and Chicago.
Toledo, Wabash and Western.
Western Union

Total in June...
Total in May.
Total in April

1866. 1867. Increase. Decr'se $474,441 $380,796

$94,615 371,543 343,671

27,872 118,783 87,783

31,000 922,891 898,357

24,434 350,920 261,480

89,440 (Not received in time.) 1,243,636 1,118,731

124,905 567.679 496,616

71,063 106,315 96,535

9,780 335,082 284,977

50,105 39:2,640 304,232

89,408 252,172 114,579

147,593 244,376 221, 90

22,686 253,994 240,135

13,789 633,667 5 6,556

127,081 325,69 304.810

20,881 102,686 60.559

42,127 $6,706,446 $5,721,537

$984,909 6,613,070 6,089,325

524,745 .5,696,240 6,030,678 334,438

The gross earnings per mile of road operated for the same month of the years, respectively, are shown in the following table :

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The results of railroad operations for June are given abover and from these it will be seen that all the roads from which reports have been received have decreased their earnings. In June, 1866, the earnings on 7,034 miles were $6,706,446, and in June, 1867, on 7,124 miles, $5,721,537, the aggregate decrease being $984,909, or at the rate, as shown in the second table, of $150 per mile of road operated. This is certainly very large. The decrease from the month of May last, however, is only $31 per mile of road. The exhaustion of the old crops appears to be the scapegoat for this condtion of railroad matters.

The results of the second quarter of the current year compared with

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those of the corresponding quarter of 1866 are shown in the statement
which follows:

Gross earnings. Earn's p. m.-
Railroads.

166

1867. 1866. 1867. Inc, Der. Atlantic and Gt. Western........

$1,320,451 $1,233,105 $2,614 $2,531 73 Chicago and Alton

970,643 966,313 3,466 3,461 16 Chicago ani Gt. Eastern.

841,256 280,286 1,219 1,001 218 Chicago and Northwestern.

2,275,944 2,406,744 2, 205 2,102 102 Chic., Rick Island and Pacific.

925,400 793,679 2,257 1,936 811 Erie..

3,19,709 3,458,014 4,384 4,462 78 Illinois Central..

1,548 534 1,394,230 2,187 1,970 217 Marietta and Cincinnati.

281,701 259.829 1,134 1,035 99 Michigau Central

1,044,014 991,712 3,663 3,445 2:8 Michigan Southern..

1,228,560 1,061,996 2,844 2.607 337 Milwaukee and P du Chien......

637,742 321,193 2,724 1.372 1,352 Milwaukee and St. Paul

611 507 644,735 2,223 2 199

24 Ohio and Mississippi...

814,477 807,805 2,35 2,376 19 Pittsburg, Ft. Wayne and Chic...

1,915,983 1,660,115 4.094 3,547 547 St. Louis. Alton and T. Haute.

503,099 515,963 2,395 Toledo, Wabash and Weste n...

912,424 950,9 10 1.751 1,829 78 Western Union.....

232,932 159,121 1,316 899 417 Total 2d quarter....

19,123.376 17.84*,468 2,639 2.432 207 Total 1st quarter...

16,:31,753 16,071,818 2,241 2,192 43

2,459 64

::%2:1::

The total length of the above railroads having been in 1866 7,244, and in 1867 7,334 miles.

With regard to the quarterly summary, the result is a decrease in earnings, as compared with the 2d quarter of 1866, to the extent of $207 per mile of road operated, and since January 1 the decrease has been $250

per mile. This is about 5 per cent. on the aggregate, These results are better than were anticipated, and the loss has probably been balanced by reduced expenditures. If this has been the case, the net earnings will not be injured, while the coming half year is full of promise and may, from increased business, fully make up the gross totals of the railroad year 1866.

DEBT OF NEW JERSEY.

We have lately received the published reports of New Jersey for the past year. From them it appears that the debt of the State at the close of the fiscal year, November 30, 1866, amounted to the sum of $3,395,200, evidenced by certain bonds authorized by law, as follows:

By act of May 10, 1861, the Governor and Treasurer, for war purposes, were directed to borrow, on the issue of 6 per cent. bonds (exempt from taxation), none of which were to be made parable at a later date than January 1, 1885, not exceeding $2,000,000. Under this act the following issues were made and were outstanding at the date mentioned : Amonnt.

Amount. $99.600

.$:00,000 99,500

100,000 99,900

100,000 100,000

100,000 1:0, 00

100,000 99,900

100,000 -total outstanding $1,798,900.

By a supplementery act, approved March 24, 1863, the same officials were authorized to borrow, for like purposes, on similar bonds, none of which were to be made payable later than January 1, 1896, an amount

Due Jan, 1.
1867..
1868.
1969
1870.
1871
1872..

Due Jan. 1.
1873
1-71.
1875
1876.
1877..
1878.

Due Jan. 1.
1979.
1830.
1881.
1882.
1853
1884.

Amonnt.

100,000 100,000 100,000 100.000 100,000 100,000

not exceeding $1,000,000. The issues under this act outstanding at date are payable as follows:

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Due Jan. 1,
1897
1.38

Amount. $123,000

71,000

-total outstanding $1,002,900.

By a further act approved April 14, 1864, the same officials were authorized to borrow for like purposes such sums of money which, with the moneys borrowed under preceding acts, should not exceed $4,000,000, and to issue bonds therefor at 6 per cent., none of which sbould have a longer time to run than to January 1, 1902. This issue of bonds, however, was not exempted from taxation, and none of them were sold prior to the passage of an act approved April 4, 1866. This latter act stated in its preamble that $4,000,000 had been heretofore appropriated for paying the expenses incident to the suppression of the rebellion ; but that not more than $3,000,000 had been borrowed, leaving authority to borrow $1,000,000 more; and since the State was indebted more than $600,000 for expenses incident to said suppression, this act provided that the Governor and Treasurer might borrow the sum of $1,000,000. The outstanding issues under these two laws at the close of the fiscal year were as follows:

Amount. ; Due Jan. 1,
$199,400 1-99....

200,000 | 1902 -total outstanding $593,400.

Thus of the 84,000,000 authorized only $3,395,200 have been issueil. The first law passed upon this subject (that of 1861), provided that not more than $100,000 thereof of principal money, should be made payable in any one year. The same provision was found in the supplementary act of 1863, except that in the latter it is enacted that no part of the principal should be paid before 1886, and the further supplement of 1864 declares that not more than $200,000 of the principal authorized by its provisions should be made payable in any one year, and no part thereof before 1897. It follows therefore that these bonds, which compose the evidences of the State debt, are payable in instalments, and at different times between the year 1865 and the year 1902. The payment of interest and principal as they become due is made the duty of the Commissioners of the Sinking Fund from the moneys of the Fund furnished them by the Treasurer, whose duty it is to pay over to them all moneys raised by law, and received by him for the purpose of liquidating the principal and interest of this bond debt. The three first instalments of the principal (those of Jan. 1, 1865-66 and '67) have been already paid from the Sinking Fund, the chief resource of which is the proceeds of a general tax of $280,000 a year on the property within the State.

The population of New Jersey, by the census taken in 1865, was 773,700, being an increase in five years of 101,671, the popolation in 1860 having been 672,029. Taking the debt as it stood on the 30th November, 1866, at $3,395,200, the distributive share to each inhabitant appears to be about $4.39 per copita.

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11:92 38:42

21:37 21:81 80:13 30::1 88:73 26:98 39:99

Mercer Middlesex.

By an act approved March 21, 1866, the counties, cities, towns, townships and other municipal corporations of the State were directed to prepare and forward to the Comptroller a succinct statement, properly certified, of all moneys expended by them for the purposes of the late war. Circulars were, in accordance with this act, transmitted under date of March 30, 1866, to all such corporations, requesting returns on the subject before May 1. With few exceptions the required reports were made, and, excluding those not reporting, the aggregate amount of bounties paid, or indebtedness incurred on account thereof, was found to be $23,447,988 77, as follows: Counties.

Population. Amount. Per capita, Atlantic..

11,314

$185,188 00 Bergen

24,636 146,6$: 81 Burlington.

50,719 1,43,968 34 28:29 Camden..

38,464 802,489 46 20:56 ('ape May...

7,625

162,931 33 Cumberland

26,233 650, 755 78 Essex....

124,411

3,749,958 50 Gloucester....

20,134 608, 290 00 Hudson....

87,819 3,401,468 11 flunterdon

40,758 1,099,791 68
41,478 1,658,852 04

85,916 1,403,808 52 39:08 Monmouth.

42,868 1,067,286 86 24:89 Morris..

36,513 65 2,176 26 17:86

167,533 50 Passaic.... ...........

34,856 896,198 69 25:71 Salem.

28,162 878,898 25
21,610 781, 738 00

23,929 644,915 SO Union...

1,551,945 68 43:32 Warren.

31,523 752,880 16

23:88 Total.....

773,700 $28,447,988 77 $30:31 This total represents the moneys absolutely contributed by the towns, counties,&c., for the purposes of war, which added to the State debt, $3,395,200, shows the entire contributions of New Jersey for the purposes mentioned. This is $34 70 percapita, varying in each locality; or reckoning five persons to a family, as the average, would make 173.50 to each head of a family. The interest on this amount at E per cent. is $1,610,5912 a year, or $2,08 per capita. By an additional dollar per head annually, successively placed at compound interest as a sinking fund, the principal amount may be liquidated in thirty-four years.

The total valuation of the State is $467,918,324. The State debt in relation to this valuation, is as $0:72 to every $100 and the local debt as $5:01 to every $100, or together $5:73 to every $100. This is by no means burdensome to a wealthy and industrious people.

Ocean.

14,262

11:74

Somerset.
Sussex

37:94 36:17 26:95

85 410

CLEVELAND, COLUMBUS AND CINCINNATI RAILROAD.

The Cleveland, Columbus and Cincinnati Railroad forms, in connection with the Little Miami and Columbus and Xenia Railroads, the direct line between Cleveland on Lake Erie and Cincinnati on the Ohio, a distance of 255 miles. At Cleveland it connects with the Lake Shore line to Buffalo, and through that with the New York Central, wbich together form the great through line from New York to Cincinnati. The Bellefontaine Line leaves the road at Galion, 80 miles distant from Cleveland, and the

44

Columbus and Indianapolis Railroad leaves it at Columbus, both extending westward via Indianapolis, in the direction of St. Louis ; and in its course it is crossed by the Sandusky, Mansfield and Newark Railroad (at Shelby), and by the Pittsburg, Fort Wayne and Chicago Railroad (at Crest. line). At Delaware it gives off the Springfield Branch which connecting with the Little Miami forms a second route to Cincinnati.

The Cleveland Columbus and Cincinnati Railroad Company were incorporated in 1846; and the road, commenced in 1848 and opened by sections, was completed in February, 1851. The curves at Delaware condecting the line with the Springfield, Mount Vernon and Pittsburg Railroad (now the Springfield Branch) were constructed in 1853. This branch was purchased by the Company in January, 1861:

The constituents of the railroad as at present existing are as follows: Main Line, Cleveland to Columbus

131.39 miles. Delaware Curves, at Delaware...

5.77 Springfield Branch, Delaware to Springfield.

49.80 -making a total of 190.96 miles. The length of second track (all on the main line) is 55.8 miles, and there are also about 35 miles of sidings.

In the following statement is contained a review of the operations of the company for the six years ending December 31, 1866, and its financial condition at the close of each annual period. The amount of rolling stock in use in the stated years was as follows:

1861. 1862. 1863. 1861, 1865. 1866 Locomotives.

46
41

43 Passenger Cars...

31 82 26 27 Mail and baggage cars.

8 8 9 9 10 10 Freight cars, house

335 394 511 483 473 468 stock.

112 123 107 121 122 109 platform

81 109 169 184 179 160 The miles run by locomotives with trains in each year, are stated in the following summary :

1861.

1862. 1863. 1864. 1865. 1866. Passenger service..

231,489 262,298 280,071 310,731 318,753 351,787 Freight service

347,057 472, 261 491,323 445,715 405,272 458,683 Fuel service

24,470 85,299 40,140 35,616 47,023 50,909 Repair service..

20, 489 41,965 48,891 76,049 35,358 18,823 Switching service..

83,655 114,805 151, 702 164,227 161,414 175,391 Total ...

707,100 926,628 1,012,130 1,032,368 1,967,820 1,055,692 The number of passengers and tons of freight carried, and the mileage thereof, is shown in the following statement :

1861. 1962, 1863. 1864. 1865. 1866. Passengers carried .....

180,490 280,064 995,850 532,142 559,381 398,561 Miles (1,000d8) travelled

25,597 33,662 85,499 22,343 Tonnage carried..

416,756 671,087 607,063 562,758 459,703 517,199 Miles (1,000ds) of carriage.

39,455 57,083 68,353 52,779 42,233 45,153 The earnings and expenses yearly for the same years, and the distribution of the profits from operations, were as follows:

1861. 1862. 1863. 1864. 1865. 1866. Passengers.

$370,019 $444,945 $617,552 $808,424 $974,220 $628,230 Freight.

737,413 1,133,262 1,214,091 1,394,683 1,120,452 1,072,325 Express..

22,944 25,119 35,981 37,984 55,276 43,009 Mails.

29,100 31,154 31,213 31,243 31,213 81,243 Rents

84,127 82,363 84,086 84,808 81,837 75,715 Berea Branch..

2,227 2,893 7,759 Mileage of cars.

14,868
18,114 7,210 10,973

10,604 L. M. &C. & X. RR Co's.

37,740 16.867 Other sources.

472 1,049

6,585 3,604 2,677 Dividends and interest.

5,782 7,602 119,824 46,184 67,965 45,270 Total earnings...

$1,263, 253 1,724,917 2,151,943 2,499,348 2,336,132 1,933,700

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