1434

AMERICAN RAILROAD JOURNAL.‘

ing out of the preliminary conditions inspires con-
fidence that they will be able to prosecute the
work on the road so that it shall be opened in the
shortest time.

Cincinnati, Sandusky and Cleveland R.‘ R.

The gross earnings of this road for the fiscal
years ending June 30, 1867, 1868 and 1869, have
been as follows 1

1867. 1868. 1869. .

Freight . . "$407,582 41 $407,233 82 $479,779 31
Passengers. 197,765 82 214,871 20 229,054 72

Mail. . . . . . . 18,690 00 20,466 70 21,300 00
Express .  36,108 00 53,505 71 40,394 73
Car mileage. 7,944 98 17,436 58 21,145 10
Miscellan’us .   3,983 71 3,795 14
Total, 1869.....     .. .$795,469 00

“ 1868.....     717,497 72

fl

1867.....     ... 668,041 21

---—n—I

 

Total earnings, for three years, viz:
Freight. .. ..  .. ..$1,294,545 54

Passengers . . .. . . .. . . 641,691 74
Mail 60.456 70
Express.....   130,008 44
Car mileage  . . .. . 46.526 66
Miscellaneous. .... . . 7,778 85

 

—-——- 2,181,007 93
Proceeds of assessment on 56,119
shares of Cincinnati, Dayton and

Eastern stock and interest .  . . 578,414 17

 

Total earnings and assessments.$2,759,422 10
‘ "The total ordinary expenses and
renewals for the years named were
as follows:
Yearending June, 30,’67.$711,370 84

“ “ ’68. 919,419 38'
’69. 650,064 21

.__¢-

If If

 

2,280,854 43

——:_—.

 

Earnings less expenses do renewals. $478,567 67
From which deduct interest on
bonds and preferred stock--—
Year ending June 30,’67.$113,050 00
“‘ “ ’68_. 130,431 00
’69. 168,234 50

—_—_—n

H H

 
 

411,715 50

Leaving a balance of... .. . . . $66,852 17

On the 18th of October, 1866, the Sandusky
and Cincinnati Railroad, with its Equipment, was
leased, for a period of 99 years, and renewable
forever, to the Cincinnati, Dayton and Eastern
Railroad Company, which Company at once as-
sumed the direction and management of the said
property. The Railroad at that time was in a
greatly dilapidated and unsafe condition; and un-
less a large amount of money could be expended
upon its superstructure, in re-laying the Road
with new iron—indeed, unless the Road could be
re-bm'lt—,—it could not have been much longer op-
erated. Culverts, bridges, shops, station-houses
ware-houses had been repaired so often, that re-
briilding was the only way of securing the fur-
therluse of the Road. The property, in its then
condition, even under the capitalization scheme,
was so heavily mortgaged that no more money
could, be obtained upon _its security; but one
course seemed open, which was the lease of the
Road and Equipment, which was effected as stated
above.

The new Company soon effected arrangements
by Whichgmeans were provided for reconstructing
the Bead, and improving and increasing its Equip-
ment. “And asthis work had progressed satisfac-
torily, and as it was deemed very important to
have the benefit of the old Mad River Railroad
Charter, on the 9th of January, 1868, the lease of
the Road, made in October, 1866, was surrender-
ed, and by proper legal proceedings, in the Court
of Common Pleas of Erie County, Ohio, the
name of the old corporation was changed to the
“Cincinnati, Sandusky and Cleveland Railroad

Company,” under which name the Road is now
known and operated. '

The condition of the Road-bed, and of the en-
tire property of the Company, is such as to give
satisfaction to the Stockholders. The Equipment
has been largely increased in quantity, as well as
improved in quality.

New ofiiices of brick, with material improve-
ments in the Passenger Depot and grounds, have
been made in Sandusky. The Warehouse and
Wheat Elevator have been extensively repaired
and otherwise improved.

The workshops have been materially repaired;
the passenger car house has been enlarged and
rebuilt; new boiler and copper, and large and
commodious paint shops have been erected, and
the general condition of the property materially
improved.

A large and valuable addition to the real estate
and water front of the Company at Sandusky,
has been purchased. ,

Seven miles from Sandusky, on the line of the
Road, an extensive and valuable lime~stone quarry
has been purchased, and extensive and valuable
beds of ballasting have been acquired at different
places along the line of the Road.

At Green Springs, :1 new and substantial sta-
tion-house has been built.

One and a half miles south of Green Springs, 23.
new and substantial bridge, with fine sand stone
abutments, has been completed. At Tiflin, over
Sandusky Rivgr, a. large and valuable bridge,
with new and substantial sand-stone abutments,
has been built; and at this place, the station and
warehouse, water-house and side tracks, have
been materially improved and enlarged. At Ca-
rey, extensive nfiason work and planking over the
stream running across and by the side of our
tracks, has been done, and the water-house re-
built. .

At Forest, in connection with the Pittsburgh,
Fort Wayne and Chicago Railroad, a large and
substantial brick warehouse, with slate roof, has
been completed, and the side tracks re~built.

At Patterson, 21. new-water house has been com-
pleted. and a new bridge, with substantial stone
abutments, erected. ‘

. At Kenton, a large and valuable warehouse and
lot adjoining the other property of the Company,
have been purchased; a new water-house built,
extensive filling been made for side tracks, and
facilities for business greatly increased.

At Bellefontaine, a new side track has been put
in, and improvements made upon the station-
house.

At Tucker’s Run, new abutments have been
built, and a new bridge constructed.

At Urbanathe station house has been improved.

At Tremont, a new warehouse and station-house
and side track have been built.

At Springfield, a new brick station-house is in
course of erection; a new bridge has been con-
structed over High Street, and the abutments to
Buck Creek Bridge, and to both the Mad River
bridges have been rebuilt with large blocks of
sandstone, the bridges repaired, and decks new-
ly covered with iron roofing.

At Enon, a new station-house, in place of one
destroyed by fire, and a new warehouse and side
track have been built.

At Dayton, the side tracks have been improved
and enlarged, and the warehouse improved and
repaired. .

On the Road, about 90 miles of new and re-
rolled iron has been laid, and about the same
number of miles newly ballasted.

The Findlay Branch is being re~laid with new T
rail of the 45 lb. pattern. This was absolutely
necessary, or the operation of the Branch must
have been abandoned. As an inducement to this
work, the County of Hancock donated $12,000.
This work is nearly completed, and will greatly
contribute to the value of the business of the
main line. '

At Findlay, a new station-house has been
completed,‘ and the warehouse repaired and
painted.

New cattle yards have been erected at many

paints upon the main line, and the whole property
has been, and is being, placed in good condition,
so as to enable the Company to economically

operate the Road, and increase and develope the A

business upon its line.

The business of the road exhibits a most grati-
fying increase, although almost wholly of a local
character; yet when we consider that a large
portion of our Road and its Branch run through
an undeveloped section of the State; and that
while Massachusetts has about 240 persons to
the square mile, and Ohio only about 60; that
Ohio is capable of sustaining a larger population
to the square mile than any of the New England
States, we can form some anticipation of the
probable increase of the local business of this
Road within the next few years. This is more
apparent when by reference to the statistics of the
Counties through which our Road runs, we see
that they are increasing" in population and busi-
ness at the rate of nearly nine per cent per an-
num.

The passenger summer travel to Sandusky, and
the excursion parties from the line of the Road
to the Lakes, are rapidly developing into a large
and important business.

When it is considered that less -than three
years ago this line was avoided by all travelers
on account of its unsafe condition, the present
results are most encouraging.

Our relations with the Cincinnati, Hamilton and
Dayton Railroad Company are of the most pleas-
ant character, and we are now doing business to-
gether, under an arrangement made last Spring,
which promises to be beneficial to both Compa-
nies. We now run our passenger, express and
sleeping cars through from Cincinnati to Sandus-
ky, and with the best results. 1

While we have an interchange of business with
the Lake Shore Railway Company, yet we have
not been able to secure such co-operation with
that Company as our connection requires, and as
the amount of business which we furnish that
Road would in justice demand. The business
from that line is given at Cleveland to the C., C.,
_C. and I. R. R., when it could earn sixty miles
morehaul by carrying it to Sandusky or Clyde,
and giving it to this road. The justice and poli-
cy of their doing so is apparent, and it is hoped
it will not be long before we shall receive our
fair proportion of business from the East for Cin-
cinnati and other Southern points. We have the
assurance of the co-operation of that Company
in securing a fast freight line over our road be-
tween Cincinnati and the East, which, if efl'ected,
must add to our earnings.

The improvement in the channel of Sandusky,
Bay, by deepening it, so that at all times it can
be entered by the largest class of vessels, is as-
sisting our business ; and the development of the
mineral regions of Lake Superior, in connection
with the large increase of smelting furnaces and
rolling-furnaces in Ohio, and the rapid develop-
ment of the States lately in rebellion south of us,
between which and us for so long a time there
has been absolutely no intercourse, must add ma-
terially to the business of the north and south;
Roads, of which increase our line willreceive its
full share. '

This Company has been operating the line of
Road between Springfield and London, Ohio,
with advantage to this Road. No compensation
has been paid to its owners, except by way of re-
pairs upon it. Iregard it a subject of the great-
est importance to our line that this piece of Road
be extended to Columbus, and a permanent ar-
rangement made by this Company for a lease of
the same. This subject should receive immediate
attention, and the control of the present line to
London secured, so that we may rely upon our
connection at Columbus—-at some future time, if
not directly. It is not probable that we can con-
tinue to enjoy the benefit of the London Branch
without making some compensation. for its use.
The subject of continuing should receive the
attention of our Board; for aside from the in-
creased business it would give, its control seems
to be important to us in influencing our connec-