14
 

Changes in Funded Debt

Changes in funded debt of the Company, in detail, were as follows:

The amount outstanding on December 31, 1943                                                                      $591,339,760 58

was increased by issue of:

New York Central Railroad Equipment Trust of 1944, 114% Equipment

Trust Certificates                                                                                                            15,500,000 00
 

$606,839,760 58
 

and has been reduced by retirement of:

N. Y. C. R.R. Co. fifteen-year secured 3>^% bonds, called for

redemption                                                                                        $37,237,200 00

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 15,1944            $1,100,000 00

N. Y. C. R.R. Co. second trust of 1929,

December 1, 1944                                                      745,000 00

N. Y. C. R.R. Co. trust of 1930, May 15,1944                 952,000 00

N. Y. C. R.R. Co. trust of 1937, March 15,1944              286,000 00

N. Y. C. R.R. Co. trust of 1939, December 1,1944           900,000 00

N. Y. C. R.R. Co. trust of 1940, June 1,1944                1,040,000 00

N. Y. C. R.R. Co. trust of 1941, February 15,1944       1,090,000 00

N. Y. C. R.R. Co. second trust of 1941, July 15,1944    1,500,000 00

N. Y. C. R.R. Co. trust of 1943, June 1,1944                   530,000 00         8,143,000 00

Quarterly payments falling due during the year on the

Company's liability for principal installments under

railroad equipment agreements, assigned to banks:

Agreement dated December 30, 1938, assigned to

The First National Bank of the City of New York      $117,700 00
Agreement   dated   May   2,    1939,    assigned   to

Marine Trust Company of BuflFalo, N. Y.                    68,000 00

Agreement   dated   May   3,   1939,   assigned   to

Guaranty Trust Company of New York                      15,824 00

Agreement   dated   May   20,   1939,   assigned   to

Marine Trust Company of Buffalo, N. Y.                    23,578 48

Agreement dated September 8, 1939, assigned to

Marine Trust Company of BuflFalo, N. Y.                    72,545 48

Agreement dated October 31, 1939,  assigned  to

Guaranty Trust Company of New York                      70,791 76           368,439 72       45,748,639 72

$561,091,120 86
and has been further reduced by reacquirement of:

Indiana, Illinois & Iowa R.R. Co. first mortgage 4% bonds, purchased

and held in treasury                                                                                                                 136,000 00

leaving the unmatured funded debt outstanding on December 31,1944                                      $560,955,120 86

On December 31, 1944, there was also outstanding and carried as deferred liabilities,
the amount of $26,769,167.56 payable over a period of years to the State of New York for
the Company's proportion of grade crossing eliminations.