HIBSON PEACOCK. Editor. VOLUME XXII.—NO. 263. * STHE EVENING BULLETIN; PUBLISHED EVERY EVENING, (Sunday!! excepted), CLT THE HEW ODUETUV BUILDING. 607 CUostimt Street, Philadelphia, BY THE EVENING BULLETIN ASSOCIATION. PBOPBIETOES. GIBSON PEACOCK, CABPEK 80UDEK, Jb.. V. L. EETUEBSTON. TIIOS. J. WILLIAMSON. EKANCId WELLS. The Iln.i.mn Is nerved to Pl!(j.criberc in the city at IS oente per week, payable to the carriera, or $S per annum. m- FAME INSURANCE COMPANY, 406 Chestnut Street, PHILADELPHIA, Jan. 18, IS®. TbU Company, Incorporated In 1866, and doing a Firo Inauranca InulneM exclusively, to enablo it to accept a largo amount of buainsu constantly declined for want of adequate capital, will, in accordance with a lupplemcnt' to ita charter, increaeo ita CAPITAL STOCK FEOH $lOO,OOO, ITS FKEBEST AHOUST, To s£oo,ooo, Bl BBIBEB OF FIFtV BOLLABB BACH, and for which Snbecription Booka arc now open at thla office. By order of the Board of Directors. ODABLES BIBHABDSON, PRESIDENT. WILLIAM fit. HU AWN, VICE PRESIDENT. WIU.IA9IS I. BIASt'HAHI), SECRETARY. AGENTS AND SOLICITORS FOR LIFE INSURANCE 8 And all pec tom contemplating Iniuranec, WILL DO WELL TO SEE MR. H. Gr. WILSON, AT THE OFFICE OF THE Peon Mutual Life Insurance Co., 921 CHESTKUT STREET. laid a tu th tf lw WBDDINQ GAUDS, INVITATIONS FOR PAJ ties, Ac. New styles. MASON 6 CO., Kn25U5 907 Chestnut street. WEDDING INVITATIONB ENGRAVED IN THE W Newest and best manner, LOUIS DREKA, St** ttcmCT and Engraver, U 33 Chestnut street. feb 3Q.~tl AIARBUSU. M &TCHITT— HUM PH KEYS On Tae*day, Fcl>. ICth, at cit. Lukc’y Church, by the Rev. R. C. Matlacic, R. Wm. Matchlil an<l Lizzie B . daughter of the U'e h'arae Humplm*\e. Ul£D. ALTKMUh. —On the rnornihgof the l&ih Instant, George Henry, son of Samuel T. and the lm* Charlotte E. Ahemue. Funeral service* at the residence of W. E. CrockcV, No. 3?0 North Thirty-third street, on Wednesday morals?, the I7th Inst., at 10 o’clock. Interment at Laurel IlslL AN'DKBW.s.-On Sunday evening, I4th Inst., John T Andrewi*. m the SMh year of hi? age. 'I he rel&Uvcs and friends of the family are invited to attend the fuiiera’, from the residence of his parents. No. UO7 Chestnut street, on Wednesday a/ienioon, at *l% o’clock. 2t HAKMaR —On Monday morning, February 15th. Charity Uarraar, in the 42U year ot his ave. The male rela Ives and Irignde of the family are in vited to attend Ihe fancral, from the residence of his father, near Graj’s Furry, on Thursday morning. February 18th, aiAJ o’clock pur^tuails> SMITH —At PSmej, on the evening of the 13th mat., Helen M., wife ot William M. fcSmitu, and oldest da/ignier o! Marmaduke Moore. ' The relatives and fri«)ds of the familv are Invited to attend the funeral frum the rofideuce of her father, No. 254 South Turt-ntj-drei street, on Wednesday morning. 17th Inst., at 10 o'clock. * THOMPSON. On Mod (lir. February l.Mh, Carrie, daughter of Harriet L. and the late Newcomb B, Thompson, aged 11# years. The relatives ana friends of the family are invited to attend the funeral, on Thar*day morning, lnst., at 11 o’clock, from the residence of her mother, Cla plcr street, Germantown. Carriages leave 505 Arch atreet, at 10 o’clock. ) ** •AfAGNIITCENT BLACK DRESS SILKS. M SATIN FACED GROG RAINS. HEAVIEST CORDED SILKS. WIDOWS’ SILKS. NEW LOT. BLACK SILKS WHOLESALE. EYRE A LANDELL, Fourth and Arch Streetl. ■FECIAL NOTICES. MT* PHYSICAL. CULTURE. Mlkl OßliJl AND PHTMC&L IfISTITCTfi, Broad Street, below Walnut. -MENS SANA IN CORPORB BAXO." The laet quarter of the Ojmiuutic Be&eon begins THURSDAY«(he 18th Inst. Clawes of Misses and Young Ladies tm et Moodays and Thursday*: Classes for Little Boys aud Masters, Tuesdays and Fridays; Private ba sons. Wednesdays and Saturdays. The Swimming Department opens as usual, the l*t of May. feieotlp B@“TO RAILROAD CONTRACTORS Proposal* will be received at IMAUCH CHUNK, Pa., until February the 17th, 1669, for the GRADUATION and MASONRY of the NESQUEUpNING VALLEY RAIL. ROAD, including the approaches of NEBQUEUONING TUNNEL. Specifications and Information as to the work In detail Day be obtained on application at the Engineer's Office, Mauc h Chunk. J. B. mOORHEiD, Pieildent. )a!4 tfolTrp MANUFACTURERS, MINERS, And all Interested In the health and growth of our homo industry, are earnestly invited to meet at the Board of Trade Rooms, Philadelphia, WEDNESDAY, February 17, at 10 A. M. Individuals ore asked to come, associations to send de legates, and members of tho "National Manufacturers’ Association" and the "American Industrial League” to be present, as the object is to reorganize a more elUcioa t X ational League or Association, to include aH our useful industries, and be a centre for unity of plan and action for the associations of special industry. It is highly important that publio sentiment and Na tional Legislation be just and wise in fairly protecting home industry. These questions will soon he considered. Tho "Free Trado League" is constantly active. Shall wo sleep, aud wafeo after ruin comes? Hon. D. J. Morrell,of Pennsylvania; E. B. Word, of Michigan; C. A. Trowbridge, of New York* and others call this meeting. On their behalf the attendance of 3 ourself and friends is asked. CONCERT HALL, THIRD AND LAST LEOTf HE BY DE CORDOVA, On THURSDAY EVENING, Fob. 18. Suiu hot—THE SPRATTB AT SARATOGA. 00 confs. No extra charge for Reserved Seats. *V obtained at Gould's Piano Rooms, M 3 -Chestnut street fel6tfs j CELTIC ASSOCIATION OF’AMERICA, j LECTURE BY j A T CPNQEItI' HAUa Feb. 17, I Lilirttry Pimdi j "aMS’sSfelf-® “irl T™raor* r ?‘ro.! ■ “H?, S, c »nluu, 103 HouthFiftii' Btroo^ r Bxll aud L ' lloalnut ' j PaDy°inKthotawil < iiiutoxfr , ac&Ku naK ® ntlomOn accom ' ■ a BHELTON’ MACKENZIE, | JAa O’DONNELL, Secretary jD itxlji .dßbmitg Iklktm )a3otfrps G. B. STEBBINS, Sbcrotary. SPECIAL. NOTICES. pfe- NOTICE.- Tl'e Annual Mcctlnk of tbo Stockholders Of tho RAN* COCAS STEAMBOAT COMPANY will bo held s', the house of William Davis, lu MOUNT HOLLY.on SATUK -I>A * next, tho sixth day of March, at 2 o’clock, P. M.,for tho purpose of electing eleven Directors to serve tho on suutgytar. P. V. COPPUCK. Secretary. MountHolly, Fob. ISth, 1869. felS-tu-th-s-3t; maw- POST-OFFICE. ‘ Pmi-ADuLeiiia Pa., Jan 23. Is® - Mail for HAVANA per.toaroo- HTARB AND STRIPES and YAZOO, will close at this office on WEDNESDAY, February 17, at 7A. M. ’ It HENRY 11. BINOHAM, P. M. WSB~ OFPICE PRESTON COAL AND IMPT COIL "*** PAN Y, 826 Walnut streot, Philadelphia. Tho Annual Meeting of Stockholders and Election for Directors of the Company will bo held at this office on Mar-h 3d. WEDNESDAY, at 12 o’clock M. tots irnhSj JNO. H. WTKBTLING. Secretary. HORTICULTURAL SOCIETY. " , Stated meeting and display TUESDAY evening. .February lgth. at 8 o’clock. It* WW HOWARB HOSPITAL, NOB. 108 AND 152) ~ Lombard atreet. Dispensary Department.—Medi eat treatment and medicine furnished gratuitous! - to the peer. LEITBB FBOn WANHINGTON. General Orant’a Hetlcenee In Regard to the Composition of his Cabinet Approved—A Hetrospeetive View ■howlDg when other Presidents Divulged their Cabinet Ap pointments-Gen. Geo. H. Thomas and Ihe LincolnHonumem-Proipeo. five failure of some of the big Cobby Scheme, at the present Session of Congress, Ac. (Correspondence of the Phils. Evening Bulletin.] Washington, Feb. 15, 1809.—The reply of General Grant, on Saturday, to the joint Com mittee of Congress appointed to notify him of bis election aa President, has been the subject of criticism ever since, and the prevailing impres sion is that he acted wisely in withholding the names of bis Cabinet advisers till after he sends tbtlr names to the Senate for confirmation. In this connection, the following from the Keening Star, of this city, showing the periods when Presidents announced their selection ot -Cabinet officers, wHI be interesting : “Tbe Declaration by General Grant that he wifi not announce the names of his Cabinet officers until they are sent to the Senate, causes it to be a mutter of inlerest to know at what times the nemos of previous Cabinets were divulged. > General Jackson arrived m Washington to pre pare for Mb inauguration February 11. 18211, and the Satujnol Intelligencer announced the mem t« rt jjnlt Cabinet February 27. Mr. Van Buren made but a single change in President Jackson's Cabinet. General Harrison arrived in Washing ion February 9, 1811, and February 13 the Sutional Intelligencer published, as a ‘probabili ty,‘ihe Cabinet as it was subsequently constituted! Mr Polk arrived in Washington February 18, IMO, and bis Cabinet was not organized till after Maicb 1. General Taylor arrived in Washington February 23,1819, and his Cabinet wasannouuced >larch3. General Pierce arrived in Washington February 21, 1853, and four days before his arri val bis probable Cabinet was published, the list ( oDtalDing nearly all the names, of those wbo were subsequently selected, though the assign ment oi positions was changed when tbe Cabinet wos formally Siiponnced. Mr. Buchanan selected his Cabinet at Lancaster, the Intelligencer print ing tbe list correctly February 2tl, 1857, and the Fresidenrajict arriving in Washington March 2. SjjjfifLtnvMß arrived in Washington February 23. M*nl. bwt Ms Cabinet was not lolly decided upon till Match I."k It is generally conceded that Pennsylvania wifi •c hofrurtd with a representative in the Cabinet; but who will be tbe fortunate man is still ‘in tbe womb of the future;” and it would be impossible, at this time, to make any prediction as to who wifi be selected. The “Cabinet-makers” have been busy all day, “making np slates” aud rub bing them out again, which is a species of inno cent amusement ibatdoes very well to “kill time;" but there is not tbe slightest probability that one in a hundred of these improvised combinations will come near the mark. Tbe Curtin taen are sanguine that tbe Ex-Governor will be chosen, while tbe “Cameronians" are equally as confi dent that Curtin trill not be the man; so ail we. can do is to wait patiently till the ides of March. The office-seekers, in the meantime, are sadly porp exed. Bome of them have been hero for weeks, “cocked and primed” with letters, testi monials aDd recommendations, all ready to pre sent to "the Secretary whole tobe,”ior every Imaginable office,from a first-class foreign mission down to a petty postmastership. They can't present their “cltU-ms" to Grant, tor that would insure their certain defeat, as he has more im portant business to attend to than arranging petty offices for needy, applicants. It is well known lhabfie declines to consider all such ap plications, “as he is not President get to use his own expressive language; but those who are over anxious, and insist upon putting in their papers, are briefly loid tbat the matter will be relerred to oi e of Grant's private Secretaries, who, it need bnrdly be said, puts the anxious applicant on a "hUtck list,” which wifi be an extinguisher npon .11 over-zealous applicants in the future. Those interested should take warning. GKNKKAI. OKOBGE 11. THOMAS ANO THE LINCOLN MONUMENT. . A paragraph has been going the ronnds ot the -p-pera setting forth that Major-General George H. Thomas had declined to consent to his Btatue being placed on the National Lincoln Monument. This is incorrect Gen. Thomas has consented, red his statue will be on the monument along with- those of Grant, Sherman and Bheridan Lust week, Gen. Thomas was photographed on horseback, by the photographer ot the Treasury Department, for the express purpose of furnish ing a copy to the arti6t and sculptor, Clark Mills, K-• i-, lrom which to* model tbe magnificent colossal statue of Gen. Thomas which is to be placed upon the monument. THE BUSINESS 11EKORK CONGRESS. The short time now remaining before the close of tbe present session effectually set tles tbo question of the passage of :bo "Omnibus Pacific Railroad" bill, n hich was reported to the Bcnate. involving the Government in snbßidieß to the amount of one hundred and fifty millions of dollars the bill chartering an air-line railroad between Washing ton city and New York: and several other mea sures, which cannot by any possibility be passed during the present session. These will come up ut tbe next session, bnt there is not as much prospect of tbe “Omnibus Pacific Railroad' bill passing then as now, on account of the enor mous load of debt it would saddle upon the Gov ernment. If Congress once opens tbe doors to these subsidies, there is no telling where they will stop. To-day, in tho House, a yesolullon was offered by a Bouthorn member, granting fire millions loan to tho New Orleans and Selma (Ala bama) Railroad, which was promptly referred to a committee, where it will Bleep tho sleop of death. Susquehanna. —A hundred years ago last men used to drink Lumpers to the health of a lady out of her shoe. The custom baa fallen Into deßuetudo; but a cor respondent of a London paper says that loss than twenty years ago he was present at a dinner of- Irish Bqulrcs, when tho health of a beautiful girl, whose feet were as pretty as her face, was drunk in chain poguo from one of her satin shoes which an admirer of the lady had contrived to obtain possession of. —Sir Robert Pi ol was scarcely more noticeable as a statesman than as a debater who could not pronounco his “A’s." “By hard lii'bor, Peel had acquired the faculty of pronouncing h ' when it occurred at the beginning of a word. Thus, ho would say ‘house’ and 'hustings,' not, in Lanca shire fashion, ‘ 'ouse' or ‘ 'ustiags;' but h, in the middle of a word ho would still omit. Thus, he would say v ‘The man be-aves well who alwavs ad-cres to his friends.’" PHILADELPHIA, TUESDAY, FEBRUARY 16, 1869. PENNSYLVANIA BAILROAD, TWENTY-SECOND ANNUAL REPORT Ou'irß Pennsylvania Railroad Company, Philadelphia, February 10, 1869. To the Shareholders of the Pennsylvania Rail road Company: The Directors have the gratification to report to you the results of another year of prosperous business npon your railway, the details of which are shown in the following statements: EARNINGS. From Passengers,.. .$3,531,903 91 " Emigrant Pas sengers 78,244 29 “ Mails 99,981 25 “ Express Mat ters r 291,881 21 “ Gen’l Freights. 12,882.165 30 “ Misceilaneons Sources 349,321 32 517,233,497 31 EXPENSES. For conducting trans portation $3,609,233 18 “ Motive Power 3,361,694 42 “ Maintenance of Cars 1,442,735 90 “ Maintenance of Road 3,268,896 46 “ General expenses 178,423 92 Leaving net earnings for the year 1868 $5,372,513 48 The total amount of revenues compared with lost year is: 1868 $17,233,497 31 1867 16,340,156 36 Increase $893,340 95 The changes in Ihe sources of the revenue are Grown below: *. Decrease in emigrant passengers $43,408 97 Decrease In express • matter 38,613 39 Decrease in miscella ueons 124,707 22 $209,729 68 increase in regular freights $1,049,865 63 I Dcrcasc in first class passengers 35,155 38 increase in United States Mails 15,019 57 $1,100,070 53 Increase as before stated Tbe gross revenues for 1868 are equal to $48.- I :4a 26 per mile, of the main line of the railroad. Tbe whole number of passengers carried in 1867 was 3,347,466, and in 1868, 3,747,178—an in riase of the number carried of 399,712. The iverage distance traveled by each passenger was 85 64-100 miles, being 2 27-100 miles less than In 1867, showing this increase to be open the local truffle of tbe line. Tbe number of tons of freightmoved (including 294,131 tons of fuel and other materials trans ported for the Company,) was 4,722,015, embra cing 2.065,049 tons of coal. Tbe wbole tonnage of yonr railway exceeds that of last year, 721,477 ons, of which increase 384,326 tons was bitumi nous coal. Q Tbe average charge npon freights daring the year was 1 906-1000 cents per net ton per mile, >nd per passenger, 271 100 cents. The coat of i ransportaiion was 68 8-10 per cent, of the re •ejpts. Tbe earnings of the Philadelphia and Erie Rafi 'Oad in 1868, are From Passengers 86.31,437 59 From Freight 2,101,613 98 From Express matter 30,864 33 From Malls 21,518 04 From Miscellaneous sources 18,726 42 Total (Dearly equal to $lO,OOO per mile of road) $2,804,250 36 The operating expenses daring the same period, were: For Conducting Trans portation $610,774 32 For Maintenance of way 600,284 40 For Motive Power.. . 677,028 49 'or Maintenance of Cars 178,913 85 $2,067,001 06 To which add 30 per cent, of earningß, payable to the Phiia dtlphiaand Erie R.. H. Co 820,423 95 showing a loss to this company in operating the line under the lease, of.. $83,274 65 1 )r $271,17r 78 less than in 1867. To the loss above stated there should be added -to give a fair exhibit of the workings of the ease of this line—the interest upon the capital I>l Hired to operate the railway, the cost or the oiling stock and shop machinery, all of which is urnisbed by thiß company, amonnting at six .er cent., to $210,000 per annum. The increase In lie business of the line Is al most wholly from the development of the freight ruffle of tbo Company. The decrease in the relative expenses arises mainly lrom the diminished outlays on account •I the original incomplete and defective construc ilon of the ropd. The revenues of the lines operated by this Company, and tho amounts paid for their work ng expenses, interest and dividends, are as fol lows: From the Pennsylvania Railroad and Branches $17,233,497 31 From the Philadelphia and Erie Railroad 2,804,250 36 Amount $20,037,747 67 And the expenses of operating these lines were: Pennsylvania Rail road $11,860,988 88 Philadelphia and Erie Railroad 2,067,001 06 Thirty Per Cent, re served to pay inter est on debts of the Philadelphia and Erie Railroad Com pany 820,428 95 14,748,408 89 Leaving the net profits from both railways for 18G8.. 5,289,338 78 From which deduct dividends declared in May and No vember, in all 13 per cent, with the - taxes thereon 3,242,281 99 ©3,242,289 99 $5,289,338 78 Balance to debit of Interest Account.. 701,010 84 Duo on the lease” of the Harrisburg and Lancaster Railroad 135,274 18 Annual Payment to . the State of Penn sylvania oqrj ac count of interest and principal due upon the purchase or her works be tween Pittsburgh and Pkilada....... 4G0.000 00—4,539,167 01 Leaving balance... ; ■ y $ 750,171 77 The averagedivldendsDMfie Company since? OUR WHOIiE COUNTRY. 1860 have been fully cqnal to that paid in 1868. All of the branch and leased lines operated by ibis Company, except the Philadelphia and Erie, find tbe East Brandywine and Waynesburg Rail ways fv.bere tbs T-aggregate loss was $88,105 84), have shown balances in their favor over operating expenses, equal in tbe aggregate to tho interest upon tbe amounts standing upon the books ..gainst them. Tbo earnings of tbe Railways in which the Pennsylvania Ruilroad Company is tho holder of a majority of their shares, but operated under their own Boards ot Directors, wtffe for the past year as stated below, viz.: Cumberland Valley Railroad $577,064 72 Northern Central Railroad and ita leased lines 4,151.351 91 Pittsburgh, Cincinnati and 8t Louis Railway. 2,327,455 43 The Cumberland Valley Railroad extends from Harrisburg to Hagerstown, Maryland, a distance of seventy-four miles. It Is a very important feeder to yonr main line, and traverses through out its length a wide and densely populated val ley, rich in agricultural resources, and bounded on either side by mountain ranges containing some of the most valuable mines of iron ore in the State, of inexhaustible extent. These mines are now being developed, and when reached by he branch railroad in conree of construction, the transportation of these ores will add largely to the net revenues of that Company. Tbe interest of Company in this railway is held by its Binktng Fund, and consists of 9,418 shares of the Common and 2,864 shares of the Preferred Stock, npon both of which, amounting at par to $614,100, it pays regular dividends of eight per cent! per annum, leaving a surplus which Is being appropriated in aid of the con struction of the branch line mentioned to the largest of these iron ore deposits, and towards tbe extension of its own line to the Potomac, at or near Williamsport, Maryland. The Northern Central Railroad extends lrom Baltfmore to Ban bury, Pennsylvania, a distance oi 138 miles, and through leases of • and contracts with other rail way companies, it is practically extended to Buffalo, New York. Its control by this Company wag. the result of an unsuccessful effort upon the part of the Baltimore and Ohio Rail road Company to Bhut up this avenue as a competitor with its own railway for transporta tion between Baltimore and the West. 11,860,988 88 Instead oi a burthen to the Pennsylvania Rail road Company, as apprehended at the time a purchase of a majority of Us shares was mado by the Sinking Fund, it has proved a very profitable investment. Alter placing this work in good condition, and increasing its equipment, it has been able to pay regular quarterly dividends to its shareholders at the rate of eight per cent, per annum after leaving a reasonable surplus of net profits. The number of shares of this Company held by the SinkiDg Fund is 43,614, equal at their par value to $2,180,700. The ordinary traffic of this liße has increased with the population of tbe wealthy and enterprising section of country it accommodates, while its coal trans portation, wbich is still in its infancy, has become a very important source of revenue. It has con nections throngh a lease of the Shamokin Valley and Pottsvilie Railway, the control of the Ly ken’s Valley Railway, and a connection with the Philadelphia and Erie, Lackawanna and Blooms burg and other railways, with all of the coal fields of. Pennsylvania, which will continue to give It a constantly increasing tonnage. The Pittsburgh, Cincinnati and SL Louis Railway has been described In previous reports. It extends from Sonth Pittsburgh to Columbus, Ohio, a dis tance of 193 miles. The interest held by this Company in their stocks and bonds stands upon its books at $5,633,450 09. It is an indispensi ble connection for tbe Pennsylvania Railway with the Weßt and Southwest, and must eventu ally pay reasonable dividends to its shareholders. Its traffic for the second year of its use as a continuous railway between its termini is equal to $12,000 per mile of road. $893,340 95 In the Connecting Railway, which extends from West Philadelphia to Frankford—a distance of seven miles—and operated under a lease by tbe Philadelphia and Trenton and Camden and Am boy Railroad Companies, at an annual rental equal to six per cent., clear of all taxes, upon its whole cost, the Pennsylvania Railroad Com pany holds 25,547 shares of the capital stock, amonnting to $1,277,350. This road was constructed with means fur nished by yonr Company for the purpose of de creasing the heavy cost of passing its New York and Eastern trade throngh this city, and in the expectation of returning to the Philadel phia Division of its road much of the i trade and travel which the delays and ob structions referred to had driven to other channels. The result, as Bhown in the eighteen months since tbe road was opened for traffic, has been such as we anticipated, while, in addition thereto, we will receive during the term of the lease legal interest upon the expenditure incurred. $2,887,125 01 The Canale east of the Allegheny Mountains, purchased by this Company oithe State of Penn sylvania, 173 miles in length, have, as stated in onr la&t Annual Report, been sold to tho Penn sylvania Canal Company, of which General Isaac J. Wistar is President. That Company has siDce purchased with its First Mortgage Bonds a majority ot the shares of tho West Branch Canal Company, extending from the Juniata river up ihe Susquehanna and its West Branch to ll'ar randsvUle, above Lock Haven—l 23 miles—and has consolidated its shares with those of the Wyoming Valley Canal Company,which occupies the North Branch of the Susquehanna, from Northumberland to Wilkeebarre, a distance of 64 miles, makiner In al] 360 miles of Canal. This ar rangement brings the Busquehanna system of State Canals, below the coal measures—dismem bered by their sale to three companies—under one eontrol, without which they could not suc cessfully compete with tho railways traversing the valleys of the same water courses. The whole of the revenues of these Canals mu6t for a few years be appropriated to their improvement and protection from freshets that have heretofore pe riodically destroyed their usefulness for months at a time, to the great injury of their revenues and tho business of those who use them for tho transportation of the products of the country to murket. When these objects ore secured, the investment of this Company in the Pennsylvania Canal Company will doubtless become profitable, and highly advantageous to tho community for whose accommodation they wore originally built by tho Commonwealth. The assets of this Company—exclusive of Its owu roads— invested for the protection and en largement of its traffic are now, at a reasonable valuation, more than sufficient to meet the whole indobtedness of the Company, except tho Five per cent. Bonds held by the State of Pennsylvania, which are being paid by a contribution from the uet revenues of the Company In semi-annual payments of $230,000 each. During tho past year these contributions, after tho payment of interest, left $142,978 50 to be appropriated to ibe reduction of the principal, which amount will annually increase us tho debt upon which iff* terest is payable is reduced. In the moDth of October last an attempt was by the Erio and New York Central Railroad Companies to break up the through traffic ar rangements of this Company by making largo reductions upon their lreight charges. This movement was promptly met by tho Pennsylva nia Railroad Company by still greater reductions irom timo to time, which resulted in a largo in crease of its tonnage. These low charges were continued until a restoration of former rates was deelrcd by those Companies, after incarring a heavy loss in their revenues, while the effort in creased tho prestige of this Company by bringing its shorter lines and bettor facilities more promi nently into public notice. After tho failure of this attempt the Managers of tho Erio Company, by means of large sums of money, suddenly realized from a confidiug public," in a man- ncr, at least, unworthy of imitation, dlsre gnrdlrg tbe comity wbieh should exist in the relations between individuals or officers of corporations, and against popular sentiment and public rights, endeavored to arrest a healthy com petition for tho traffic between the East and West through the, control of our connecting lines, and by this means divert business from its natural clmnnels to their circuitous route to the sen-board. T he policy of your Board has heretofore been to limit its investments out-ide of Pennsylvania to those Companies that they originally deemed it proper to assist for the purpose of securing connections with the then existing lines, whose interests harmonized with its own. Tbo restless spirits of onr rivals in the East and West have, however, rendered it necessary to make our con nections with the chief trade cen tres of the West more perfect and leas liable in the future to molestation and interruption. This has been done to a great extent through a roci-ut lease to the Pittsburgh, Cincinnati and Bt. Louis Railway Company (known as the Pan Handle route), guaranteed by this Company, of the lines of the Columbus. Chicago and Indiana Central Railway Company, which has direct connections with Indianapolis, St. Louis, Louisville and Chicago. These arrangements will require a considerable amount of money, to bo applied especially to the increase of Rolling Stock, to render them pro ductive. This it is proposed to raise by giving to the Stockholders of the Pennsylvania Railroad Company, registered npon the books of the Company on the Thirtieth dav of April next, the privilege of subscribing to Twenty-five (25) per cent, of their holdings at that time, in new shares at par. $7,055,87 2 06 With the proposed increase of capital the Board entertain no difficulty in continuing dividends of ten per cent, per annum, even li these arrange ments should not, as anticipated, increase our net profits to a greater extent than th* interest upon the outlays to be incurred. It will appear, from an examination of the statements already given, that the business of the past year would have justified dividends of five per cent., semi-annually, upon onr whole au thorized capital of $35,000,000, and still leave a surplus of a half of a million oi dollars. The proposed increase will make the capital stock abont $33,000,000. The rapid progress made by the Union and Central Pacific Railroads indicates the completion of a railway line across the continent daring tbe (netting Bummer. When it shall have been opened throughout, you own road, and its immediate Western connections, present the shortest line to and from the Atlantic seaboard, cither by way of Chicago, Bt. Louis, or by an in termtdiate route from Warsaw westward, con i ecting with the L r nion Pacific road hear Fort Kearnej;and assure na that we will be enabled to secure a fair and reasonable share of tbe large traffic that will be carried between the Atlantic and Pacific Btateß. By some oversight, local considerations, or a limited conception of the important part that railways were to plav in the movement of the internal commerce of the coun try, Pennsylvania and Ohio have each been placed between two different railway ganges, "mefiTor a long time forced transhipments of freights. The Pennsylvania Railroad Com pany has both on its eastern and western connections a gauge of four I tet ten inches, and Ohio on each aide of her « gauge of four feet eight and a half inches—the I it or beiDg the prevailing gauge north of the Ohio and James rivers, while'south of these the gauge of five feet prevails, which should have ta en adopted originally os the uniform gauge of tne United States. 7”^ To obviate the inconvenience, tbo increased cost of transportation and the additional capital u quired to move traffic, In consequence of these frtqnent transhipments, from a difference of gunge of only one and a half inehes, brord trend wheels were introduced for through traffic, which, to. a large extent, has overcome these evils. Owing, however, to the great oscillation of the cars on the wider gauge, the Ohio lines insisted upon a play upon the narrow grnge that added materially to the Co6t ofhouling upon tbe four feet eight and a half inehes gauge, to remedy which thegaage of your road has been changed to four feet nine inches, and the Ohio roads have been, or are being changed, to four feet nine and a half Inches, leaving but a difference of a half of an Inch, which, it is presumed, that time will reduce to the uni form gauge ol four feet nine inches. Your Directors, in their last annual report, al luded to a very Important movement contem plated by the Philadelphia and Erie Railroad Company, by which it was proposed to build a railroad leaving that line at the mouth of Ben nett's branch of the SuequchanDa, thence up ihat stream to the summit, and down the waters of the Allegheny to that river at the confluence of the Maboaiag, and thence to Pittsburgh. This line is designed cbit-fly for Ihe transportation of freights at a slow speed, with a view to so cheapenlts cost as to ccinpete with the water lines leading to New York. Upon no portion of thla route is there a gradient against the heavy traffic to tho Erst ex ceeding 10 feet per mile, or 16 feet against the Westward-bound trade, except for about four miles at the summit, where a gradient of 48 feet in favor of the heavy transportation is used, and for about four miles near tbe month of tbe Ma boDing, where 55 feet per mile may be adopted. Until the traffic justifies the application of as sistant power at these points, the full loads upon the 16 feet gradient will be passed over them by a division of the train. The exceptional gradient of 55 feet per mile near the mouth of the Mahon ing may be avoided by continuing npon the side hill after striking this creek, and intersecting the Allegheny Valley Railroad lower down, bnt the work will be expensive, and may be loft to a Feriod wheD the traffic will justify the outlay. It is not proposed to extend the Philadelphia and Erie liDe beyond Brookville in this direction, as it will be there met by tbe Western Pennsyl vania or Allegheny Valley Railroads, tho charters of both of which Companies cover the ground. From Brookville tho Philadelphia and Erie will eventually be carried westwardly, south of the Lukes, connecting therewith by branch roads. The grading of this railway for about is now under contract, and all of its expensive sections will be let as soon sb tho line is carefully located. The satisfactory results obtained from the busi ness of your railways during the past year is largely due to the judicious management of E H. Williams, Esq., General Superintendent, who has been ably seconded by his assistants, John A. WUsod, Esq., Chief Engineer of Maintenance of Way, and A. J. Cussatt, E q., Superintendent of Motive Power and Machinery. Tho heavy traffic of the lines under their charge have boon moved without serious accidents, and at a maturlu! sav ing in cost, compared with the previous year, consideiing the increase of tonnage transported. The management of tho Philadelphia and Erie Railroad, under its General Superintendent, A. I. Tyler, Esq., and his assistant, W. A. Baldwin, Esq , alto reflects much credit upon them from the ndnetion of expensus realized in the move ment of its traffic per ton. Respectfully submitted. By order of tho Board, J. EixiAit Thomson, President. New York, Fob. 10. —In tbo Board of Alder men yesterday the resolution appropriating •■820,- 000 for Iho celebration of Washington's birthday was reconsidered. The Pneumatic Company have been busily tunnelling under Broadway for about three weeks, and no one outsldo ot the company was aware of these operations until a day or two since. Tho progress is very slow, being only about ten Inches a day. as the oarth is not dug out but Is forced übend. Charles 11. Ludlam, ol Marcy avenue, Brooklyn, died of hydrophobia yesterday. About a month ago a little dog which ho owued bit him ou the hand, hut the usual remedies were applied at the rilOM NEW V Oltli, F. I. FETHERSTON. Publisher. PRICE THREE CENTS. time and tlie wound apparently healed. On Saturday, however, unmistakable symptoms of hydrophobia appeared and he died in meat' agony yesterday. “ ,i An inquest was held yesterday over the,body ot Sylvester Denton, who died from the effects ol arsenic in his food, while staying at No. 67 Madison Btriet, Brooklyn, with the family of Mr. Alfred Piuney, who were all poisoned at tlhe same lime The cook testified that the arsenic was placed on a shelfin the kitchen closet-Ahii was used by her in mistake for corn meal. The jury found a verdict accordingly, and censured' Mr. and Mrs. Pinney for carelessness in having such a potent poison accessible to any one in the. house. The Darien ship Canal Treaty. The treaty made by General Cushing with the Government of Colombia concedes to the United States the exclusive right to construct an inters oceanic canal across the Isthmus of Barlen at any point which may be selected by the United States. The Colombian Government' eedes six miles of land on each side of the canal, one-halt for its own benefit and the other for that of the party undertaking the construction of the work. The Colombian Government is to re ceive ten per cent, of the net Income for (he first ten yeare, and after ihe canal is paid for twenty-five per cent, of the net profits. The treaty Uto be ratified by the United States within ten moDths; the surveys to be made within two years after the ratification; the canal to be begun within five years and fin ished within fifteen years after the ratification, otherwise the charter fails. The charter runs for one hundred years. The canal is to be tinder the control of the United States, and Congress can fix the rate of toll; the navigation to be open to all nations In time of peace, but closed to belligerents who may seek to avail themselves of its advantages. It Is estimated that the canal will cost $100,000,000. A company was not long ago organized In Now York under a charter of that State, with Peter Cooper as President. It is said, on distinguished authority, that this company hMthe capital and is ready to commence the workii congress, however, is at liberty to give the preference to this or to any other private company, or the United States can Itself undertake the construction of the canal. Herald. FACTS AND FANCIES. --Indiana has still 831 log school-honsea. —An lowa yonth went to take out a marriage license, bnt forgot the name of his bride. —The can-can is giving place to la boulangere. The “stormy tulip” is another saltatory dpasm. —Garibaldi speaks nbont fonrteen different languages. English Is the last he acquired, hav ing learned it In America In 1850 and 1851. —Cory O'Lanns thinks that the Mexicans ought to attain perfection in riding the velocipede, foi: the more revolutions you make the faster yon go. —Brigham Young isn’t afraid of a locomotive. He says: “Mine must be a d—d poor religion If it won’t stand one railroad.” —Female laborers on the snbnrban farms, near Boston, earn from one dollar to one dollar and fifty cents a day. ; —Wilkie Collins will write no more novels; b< ing persuaded that he has a mission to write play s. . —Edwin Booth has sold the Salt Pond moun tain, in Giles county,Va.,containing 12,000 acres, to a company of Tennesseans, for $lOO,OOO. They intend to ionnd a watering place there. —The Quincy (111.) Whig draws a comparison between ahorse ana a velocipede, remarking that the velocipede Is specially remarkable for the “ease With which it lies down.” —Alexander Dumas, Sr., is at work upon the history of that humble though useful animal, the bog, whose character, the great romaneist says, has never yet been justly appreciated. Maggie Mitchell is building on elegant three story brown stone front In Now York, on One Hundred and Twenty-sixth street, near Fifth? avenue, at a cost of $30,000. —A Wisconsin veteran with bnt one leg lately fell bead foremost down a well and broke his re maining leg, ‘'leaving,’’ says a Western paper, “the poor fellow’s children orphans as far as legs are concerned." —Franz Liszt has invited all his pupils to visit him in May next,at his villa in the neighborhood of Tivoli. Three grand concerts, to which the title of Roman society wIU be invited, will be given on that occasion. —M. Gacbard, a French millionaire, died re cently at Rochelle. He had made a fortune by selling fish bait, which everylexpert who ex amine dit prononneed a hambngl Bat he adver tised it liberally, with the nsnal —A Dubuque (Iowa) teacher; who received six teen dollars as she was eating dinner,reduced the national debt that amount by emptying the green roll Into the stove along wilh the othor fragments on ber plate. —“Koasnth,” says the Genoa correspondent of the Opinion Nattonale, who saw him a fow weeks ago in Genoa, "looks now like a very old, and I might almost say, decrepit man. He Is poor,and lives on wbat little money is occasionally sent him from friends In England and Hungary.” —The good people of the ancient town of Poi tiers, in France, were much shocked recently by the elopement of a yonng priest with one of the. ruling belles. The reverend father was confiden tial secretary to the bishop, and, on leaving,took all the cash under his charge. —Herr Wagner has arrived in Paris for tho purpose of conducting the rehearsal of his “Ri enzt.” A malicious journalist reports that on the day of of his arrival the street organs made as much cacophony as possible in compliment to the composer of the future. —A hungry fellow in Bath, Maine, devonred for bis supper, the other evening, one keg of oysters, threo largo sheets of gingerbread, one bowl of clam chowder, and drank two caps of tea and one glasß of water. He insults hygieno by being alive and well. —The Springfield Republican says: “ General Halpinc is as much superior to Saxe, in the tone and finish of his light and hamoroas pieces, as iho ‘Trooper’s Marc,’ which he praises in the dainty verse that Governor Andrew loved to re cite, exceeds the clnmsleßt cow in a Vermont barn-yaid.” —Gounod, the French composer, who has been for some time past in Rome, where he is at work upon his groat oratorio Bt. Cecilia, waß recently presented to Pope Pins the Ninth, who asked bim to play tome of bis compositions, and was so deligbted with the performance that he listened lo Gounod for nearly tour hoars. —A short time since a commercial agent was traveling through tbe Tyrol, with a commission to purchase women’s hair. In order to obtain tbe article at a cheaper rate of the pious peas ants, he persuaded them that their beautiful tresses were to bo sent by him to Pius IX,for the j udornment of the heads "of the Madonnas la the ebuichcs of Rome. - On tho second Sunday in January the usual ‘women’s feast" was celebrated In tho villages of Meisterscwanden and Fahrwangon, In Switzer land. On this occasion the women fake the men’s places. The young men aro led to their stats and to tho dance by thoyonng girls, and tbo expenses are exclusively defrayed by the latter. —On the sth of January, 1791, several young, pupils from the Ecole MUitaire woroskating on the deep moat that ran along by tho Fort of Auxonne. As itstruckflve one of the party pro ceeded to take off hlsskateß. “Don't'go—ono more round!" cried hlB companions. “No, no; I have had enough of. It; besides, I am hungry, and want my dinner." After the departure of their comrade, the rest continued to skate, when, suddenly the ice broke, and one and all fell into tbo waterand pbriahed. The young man who so miraculously escaped by going off a few minutes' before was no other than Napoleon Bonaparte.
Significant historical Pennsylvania newspapers