1. Pittsburg, Fort Wayne and Chicago Railway.-II. Illinois Central Railroad.-III. Chicago and Rock Island Railroad.

PITTSBURG, FORT WAYNE AND CHICAGO RAILWAY.

The Pittsburg, Fort Wayne, and Chicago Railway Company are a reorganization of the P. F. W. & C. Railroad Company, which in 1856 (August 1) had been formed by consolidating three original companies whose lines conjointly connected the cities of Pittsburg, Pa., and Chicago, Ill. The latter, having become involved in debt, was sold out under foreclosure on the 24th October, 1861, and purchased by the agents of the present company, formed February 26, 1862, to which the property was finally conveyed March 1, 1862. This change having been made with the sanction of the stock and bondholders of the old corporation, involved no business revolution, but was simply an amendment in financial arrangement for the benefit of all interests. Since this period the reorganized company have made four annual reports, from which we compile the following statements showing their material and financial condition at the close of each year, and the operations of the company for the four years from January 1, 1862.

RAILROAD AND ROLLING STOCK.

The main railroad of the company is 468 miles long; and in reference to its total length in equivalent single track at the end of each year has exhibited the following

The late Cleveland, Zanesville, and Cincinnati Railroad, commonly called the "Akron Branch," 61 miles, was purchased by the company in 1865. This road extends from Hudson to Millersburg, Ohio, crossing the P., F. W. and C. Railway at Orrville, 124 miles from Pittsburg, 38 from Hudson, and 23 from Millersburg.

Since July 1, 1865, the company has operated under lease the Newcastle and Beaver Valley Railroad, from Homewood, (35 m. W. from Pittsburg) to Newcastle, 15 miles.

The use of that portion of the company's railroad between Pittsburg and Rochester, 26 miles, is rented to the Cleveland and Pittsburg Company at $85,000 per annum. By agreement dated December 15, 1862, the P., Ft. W. and C. and the C. and P. railroad companies consolidated their gross earnings, the aggregate to be divided to

the first named in the proportion of 73 per cent, and to the latter of 261 per cent, An amendment to this agreement, made Feb. 16, 1866, provides that whenever the gross earnings of either road shall exceed the per centage fixed, such excess shall be equally divided between the contracting parties.

The number of locomotives and cars owned by the company at the close of each fiscal year has been as follows:

-1863.

-1864.

1865.

Besides which the company own a liberal supply of wood and working cars, snow plows, derricks, &c, &c.

BUSINESS OPERATIONS ON THE road.

The following statements show the mileage of engines, the mileage of passenger and freight cars, the number of passengers carried and the mileage thereof, the tons of freight carried and the tons carried one mile for the same years. Mileage of locomotive engines hauling cars—

The freight (tons) included in the above table is classified as follows:

OPERATING ACCOUNTS-EARNINGS, EXPENSES, ETC.

The yearly earnings of the road for the four years ending December 31, 1865, the operating expenses and the net earnings for the same bave been as follows:

Net earnings.....

$1,878,398 72 $3,026,310-56 $4,101,398 63

5,205,515 58

$1,866,911 90 $2,106,623 18 $3,019,067 13 $3,283,546 9g

The following abstract of the income account exhibits the total fiscal operations o the company for the same years:

By balance....

By gross earnings.....

1864. (year)

$97,055 00

1862.
(8 months)

1863. (year) $..

1865.

(year) $1,818,070 45

By discount on bonds redeemed

600 00 2,599,159 34

By C. & P. R. R. Co., on account of joint earnings.

183,671 11

Credit.....

$2,783,430 45 $5,585,758 31 $7,372,573 67 $10,307,133 01

The financial condition of the company, as shown in general account Dec. 31, yearly,

The principal items (other than current) included under the head of " Miscellaneous Assets," at the close of each fiscal year, are shown in the following statement:

The principal items under the head of "Miscellaneous Liabilities," are interest and dividends uncalled for and bills payable the latter as follows: In 1862, $2,781; in 1863, $198,369 26; in 1864, $228,050, and in 1865, $286,920 50.

The expenditures on account of construction and equipment, for the last four years, have been to the following amounts:

constituted as

The funded debt of the company on the 31st December, 1865, was follows: