14
 

PROFIT AND LOSS ACCOUNT
 

BALANCE TO CREDIT OF PROFIT AND LOSS DECEMBER 31,  1941
Additions:

Net income for the year 1942
Salvage from retired road property
Donations
Sundry items

Deductions:

Dividend for the year 1942

Surplus appropriated for investment in physical property
Retirement of road property  (non-depreciable)

Difference between appraised value of equipment of certain  lessor companies retired from January  1,
1935, to December 31,  1940, and depreciation accrued thereon

Sundry items
BALANCE TO CREDIT OF PROFIT AND LOSS DECEMBER 31, 1942
 


 

$174,468,421
 

$49,082,183
 


 

51,972
 


 

15,892
 


 

705,063
 

49,855,110
 


 

$224,323,531
 

$6,447,394
 


 

97,958
 


 

3,532,833
 


 

11,413,400
 


 

1,225,741
 

22,717,326
 


 

$201,606,205
 

CHANGES IN FUNDED DEBT

The amount outstanding on December 31,  1941
has been reduced by the retirement of:

N. Y. C. & H. R. R. R. Co. gold debentures of  1912, matured January  1,  1942
Gouverneur & Oswegatchie R. R. Co. first mortgage bonds, matured June 1, 1942
N. Y. C. R. R. Co. promissory secured notes:

3?c notes—due May 1, 1942—paid May 1, 1942
31/2% notes—due April 30, 1944—paid May 1, 1942

N. Y. C. R. R. Co. ten-year 3^4% secured sinking fund bonds, under the sinking
fund provisions

Payments falling due during the year on the Company's liability for
principal installments under equipment trust agreements:

N.  Y. C. R. R. Co. trust of 1929, April 13, 1942

N.  Y. C. R. R. Co. second trust of 1929, November 30,  1942

N.  Y. C. R. R. Co. trust of 1930, May 14, 1942

N.  Y. C. R. R. Co. trust of 1937, March 13, 1942

N.  Y. C. R. R. Co. trust of 1939, November 30, 1942

N.  Y. C. R. R. Co. trust of 1940, May 29, 1942

N.  Y. C. R. R. Co. trust of 1941, February 13, 1942

N.  Y. C. R. R. Co. second trust of 1941, July 14,  1942

and has been further reduced by the reacquirement of N. Y. C. R. R. Co. ten-year
3^4% secured sinking fund bonds, held by or for the Company,

leaving the unmatured funded debt outstanding on December 31, 1942
 

$7,267,000
300,000

$8,000,000
8,000,000       16,000,000
 

$1,100,000

745,000

952,000

286,000

900,000

1,040,000

1,090,000

1,500,000
 

4,212,000
 

7,613,000
 

$656,225,200
 

35,392,000

$620,833,200

4,898,000

$615,935,200
 

On December 31, 1942, there were also outstanding and carried as deferred liabilities, $27,648,708 payable over a period of years to
the State of New York for the Company's proportion of the cost of grade crossing eliminations, and $2,164,839 due for equipment acquired
under railroad equipment lease agreements assigned to banks.