and referred to the Auditor. From this report and other unofficial sources the following facts and figures are compiled: Miles subsidized, 860.66; miles operated, 2,074; number of locomotives, 227; passenger-cars, 235; baggage, mail, and express cars, 49; freight and other cars, 4,913; stock subscribed, $62,608,800; par value of shares, $100; stock issued, $54,275,500; subsidy bonds, $27,855,680; funded debt, $55,045,00; floating debt, $11,534,206.07, not including accrued interest on the subsidy bonds amounting to $15,225,431.38; total debt, $109,660,317.45; total stock and debt, $163,935,817.45. Cost of road equipment and real estate, $147,000,000; cash, material, sinking-fund accounts, $7,827,987.33. For the year ending June 30, 1878, passenger earnings were $5,367,663.20; freight earnings, $10,160,055.11; no data given or obtainable as to miscellaneous earnings; total earnings, as far as reported, $15,527,718.31; operating expenses, $9,988,386.67; net earnings, $5,539,324.64; interest paid (estimated), $3,700,000; dividends paid, $4,342,040; lands unsold, 11,300,000 acres. As there appeared a great discrepancy between the sworn statement of the president of the company as to net earnings given above, and one made up from the figures given in the printed report of the officers of the company to the stockholders, an explanation has been called for by the Auditor. Correspondence in regard to this discrepancy is given in the appendix to the Auditor's report. The facts that the floating debt of this company seems to be increasing over what it ought to be; that for the calendar year 1877 this increase amounted to $5,310,169.37, and that the directory nevertheless saw fit to pay out over $4,000,000 in dividends, while the annual interest charge had increased over $300,000, are reported by the Auditor.
The Kansas Pacific Railway Company have rendered and are rendering reports in conformity with law. On November 3, 1876, Carlos S. Greeley and Henry Villard were appointed receivers of this company and operated the road until removed by the United States circuit court in October, 1878. The Auditor reports the business of this road as rapidly improving; and the following facts and figures are gathered from his report: Miles subsidized, 638.34; miles operated, 672.06; number of locomotives, 89; number of passenger-cars, 51; baggage, mail, and express cars, 17; freight and other cars, 1,323; stock subscribed, $9,992,500; stock issued, $9,689,950; subsidy bonds, $6,303,000; fimded debt, $22,180,600; floating debt, $4,755,010.22, not including $1,915,356.94 accrued interest on subsidy bonds; total debt, $35,153,967.16; total stock and debt, $44,843,917.16; cost of road, $34,359,540.66. For the year ending June 30, 1878, passenger earnings were $698,710.45; freight earnings, $2,348,388.86; miscellaneous earnings, $252,938.50; total earnings, $3,300,037.81; operating expenses, $2,125,832.80; net earnings, $1,174,205.01; interest paid, $613,316.32; lands unsold, 4,803,933 acres.
The Denver Pacific Railway and Telegraph Company and the receiv-
