prOPERTY Of
INVESTORS AGENCY, Inc.
I,:*/ 1l."l< l"i '•
FORTY-FOURTH ANNUAL REPORT
OF THE BOARD OF DIRECTORS
OF
The New York Central
AND
Hudson River Railroad Company
TO THE STOCKHOLDERS
FOR THE YEAR EXDED
DECEMBER 31 1912
t
GRAND CENTRAL TERMINAL
NEW YOaii