section (of 50 miles each) of its branch line, authorized by the twenty-third section of the act of March 3, 1871.
The Northern Pacific Railroad Company has been re-organized, and provision made for the conversion of the outstanding bonds of the company into "preferred stock," and of its stock into "common stock." Up to June 30, 1870, of preferred stock there had been issued to bondholders, who had surrendered their bonds for conversion, 333,459 shares, of $100 each, and scrip for fractions of shares amounting to $198,234. No "common stock" has yet been issued.
The amount received from transportation of passengers for the year ending June 30, 1876, was $193,923.77; of freight, $424,061.96; from miscellaneous sources, $75,946.46; total, $693,932.19. The operating expenses for the year were $491,869.88; leaving net earnings, $202,062.31.
The company reports itself free from debt, both bond and floating.
Stock of the Atlantic and Pacific Railroad Company to the amount of $19,760,300 has been subscribed and paid. The receipts from transportation of passengers for the year ending June 30, 1876, were $338,674.06; of freight, $1,006,506.32; total, $1,345,180.38. The operating expenses for said year were $719,614.52, leaving net earnings $625,565.86. The entire cost of the road and fixtures has been $37,368,789.64. The total indebtedness of the company is $17,348,400.
On the 9th February last you accepted twenty miles of the road constructed by the California and Oregon Railroad Compauy, (now by consolidation part of the Central Pacific Railroad Company of California,) extending from near Vina to near Red Bluff, Cal.
On the 23d June last I accepted a section of the Oregon Central Railroaf extending from the 20th mile-post to the Yamhill River, a distance of 27½ miles.
Stock of the Texas and Pacific Railway Company to the amount of $50,000,000 is authorized by law, of which $6,073,000 has been issued. The receipts for the year ending June 30, 1876, were, from transportation of passengers, $402,518.65; of freight, $1,137,900.17; from express service, $12,592.99; mail, $30,794.74; telegraph, $8,491.11; total, $1,595,156.10. The expenses for said year were, for conducting transportation, $308,011.33; motive-power, $231,015.18; maintenance of way, $219,085.65; maintenance of cars, $91,259.11; general expenses, $45,323.17; total, $894,694.44; leaving net earnings, $700,461.66. The entire indebtedness of the company is $18,127,427.81.
Denver Pacific Railroad stock to the amount of $4,000,000 has been subscribed and paid, being the total amount authorized by law. The receipts for the year ending June 30, 1876, were, from transportation of passengers, $167,812.78; of freight, $139,343.98; miscellaneous earnings, $6,392.99; total, $313,549.75. Expenses for said year were $129,848.87, leaving net earnings, $183,700.88. The cost of construction and equipment of the road has been $6,495,350. The indebtedness of the company is $2,524,091.73.
