Journal of the Franklin Institute, Vol. 14: Of the State of Pennsylvania, and American Repertory of Mechanical and Physical Science, Civil Engineering, the Arts and Manufactures, and of American and Other Patented Inventions (Classic Reprint)

Excerpt from Journal of the Franklin Institute, Vol. 14: Of the State of Pennsylvania, and American Repertory of Mechanical and Physical Science, Civil Engineering, the Arts and Manufactures, and of American and Other Patented InventionsThe gross receipts from all sources for the year 1846, were,The expenditures for same period, including current expenses, additional machinery, improvements on depot, interest account, paving Meeting street, and damages, wereAmount of dividends paid,Balance applied to improvements of property and reduction of indebtedness,The two semi-annual dividends were, for the first half year, $1.50, and the last $2.50, mailing $4 on each share, and equivalent to 5 per cent, on par value of stock, and leaving, as exhibited, $30,184.85 applicable to improvements. The large amount under the general head of expenditures for the year 1846, as compared with those of the previous years of 1844 and 1845, may be explained by an appropriation for the improvement of Meeting street, and for damages: particularly in the loss, from fire, (supposed to be the act of an incendiary,) of a large amount of cotton, while in the cars on the track at Aiken, ready for departure by the downward train the next morning. If these amounts (as in the Auditor's comparative statement of ordinary expenses, since the consolidation of the two companies,) be deducted, we have for the legitimate and unavoidable expenditures, under all the various heads of current, materials, property and interest account, $282,972.31 in the year 1844, $279,475.43 for 1845, and $300,672.22 for 1846 - shewing, as compared with 1844, an excess of expenditure of $17,699.91, against an increased receipt of $56,210.57: and, as compared with the last or previous year, an excess of $21,196.79 of expenditure against $30,383.81 of increased receipts. A considerable portion of this excess of expenditures may be accounted for in the enhanced cost of supplies; in the large amount of materials on hand; (as exhibited in the schedule from the master of the workshops;) in preparation for the construction of an additional number of cars; and in the increased expense necessary to preserve the track of the Hamburg road from the injuries inflicted by the heavy locomotives, and the higher speed of the passenger trains. The relative proportion likewise between the receipts and expenditures this year, were greatly disturbed by the low rate (with a view of relieving the suffering planters of the interior) at which the Company undertook to transport grains.Upwards of 250,000 bushels of corn alone, the last season, were transported to Columbia, Hamburg, and intermediate stations; and at the moderate rate of freight charged, a portion of it free, it is apparent that much the largest moiety of the amount was made chargeable in the columns of expenses, while a very small balance was carried to the credit side of receipts.About the PublisherForgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.comThis book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.