Report of the board of directors to the stockholders

(New York :  [s.n.],  1913-)

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  1914: Page 4  



Annual Report

DECREASES   DURINO   THE   YEAR

Miles

By change of line and connections and sundry adjustments                            -87

By abandonment of a portion of the Beech Creek Railroad                          ■SO
By abandonment of a portion of the Cherry Tree & Dixonville Railroad

over which this company has trackage rights                                                   56         203

Making a net increase of                                                                    2083
 

The capital stock outstanding on December 31, 1913, including the amount of the

convertible value of capital stock of the companies consolidated on April 16, 1913, was

$225,581,066.00 and no change has occurred in this amount during the year.
The mortgage, bonded and secured debt outstanding on December

31, 1913, was                                                                                                   1378,644,052 45

This has been added to as follows:

Refunding and improvement bonds of 1914, bearing
interest at the rate of four and one-half per cent per
annum                                                                              $40,000,000 00

This company's pro rata liability in connection with
equipment trust certificates of 1913, bearing interest
at the rate of four and one-half per cent per annum      2,600,823 97

This company's liability in connection with B & A
equipment trust certificates of 1912                                  2,128,000 00

There has been included in this account the amount of
a loan from the New York New Haven and Hartford
Railroad Company in connection with the Grand
Central Terminal Improvement            $1,310,000 00

Reduced by annual payments amount¬
ing to                                                            157,200 00      1,1.52,800 00        45,881,623 97
 

$424,525,676 42
 

and has been decreased as follows:

Three year gold notes of 1911 paid March 1914           130,000,000 00

Mortgage on real estate in city of Utica paid off                       2,500 00

Payments of installments falling due during the year on
this company's pro rata liability in connection with
the certificates issued under equipment trust agree¬
ments, as follows:

Trust of 1907, installment due November, 1914             793,660 12

Trust of 1910, installment due January, 1914                 433,964 42

Trust of 1912, installment duo January, 1914                 477,116 10

B & A Trust of 1912, installment due October, 1914     500,000 00
Trust of 1913, installment due January, 1914                 303,630 59        32,510,871 23
 

Outstanding as shown on balance sheet of December 31, 1914                 $392,014,805 19
  1914: Page 4