it was expected that the road would be finished by the 20th October; and which, the president of the company informs me, is now completed. The road is definitely located from the mouth of Heart River, on the Missouri, to the mouth of Glendive Creek, on the Yellowstone, a distance of 205 miles. Between the last-named point and the junction of the Deer Lodge and Little Blackfoot Rivers, Montana Territory, the line has not been definitely fixed, though it will probably follow the Yellowstone as far as the mouth of Porcupine Creek, a distance of 200 miles from the mouth of Glendive Creek. In Washington Territory the branch and main line both terminate at Tacoma, on Puget Sound. The cost of surveys during the year ending 30th June last was $11,785, making the total cost of surveys $1,124,728.55. This includes the purchase of the right of way. The amount received from transportation of passengers for the year ending 30th June, 1877, was $283,915.78; of freight $663,203.05; from miscellaneous sources $63,930.60; total $1,011,049.43. The operating expenses for the year were $477,451.40; leaving net earnings $533,598.03. The total cost of construction and equipment of the road to that date was $19,421,977.56. The company's indebtedness to said date was $309,720.81. As an offset to this debt the company had bills receivable, balances due from other railroad and transportation companies, and from the United States, $229,100.54; leaving a net indebtedness of $80,620.27.
Stock of the Atlantic and Pacific Eailroad Company to the amount of $19,760,300 has been subscribed and paid. This company's railroad is completed, with the telegraph line, from Pacific, Mo., to Vinita, Indian Territory, a distance of 327¼ miles, and there has been no further construction of the company's line since its report of June 30, 1876. The cost of the surveys of the road to June 30, 1877, is $323,927.36. That portion of the road lying in the State of Missouri was, on the 8th of September, 1876, sold to the Saint Louis and San Francisco Railway Company, with all its franchises, equipments, and other property pertaining thereto, by the foreclosure of the second mortgage thereon, and the latter company has been operating the part of said road lying west of the State of Missouri since that time. Hence there have been no receipts from passengers or freight by said Atlantic and Pacific Railroad Company to report. The cost of the road and fixtures is $37,368,789.64. The bonded indebtedness for which the company remains liable is the first-mortgage railroad and land-grant bonds.
Stock of the Texas and Pacific Railway Company to the amount of $50,000,000 is authorized by law, of which $7,483,400 has been issued. The receipts for the year ending 30th June, 1877, were, from transportation of passengers, $531,385.27; of freight $1,468,694.63; from express $20,323.37; mail $31,035; telegraph $14,494.32; miscellaneous $4,706; total $2,070,638.59. The expenses for said year were, for conducting transportation $442,170; motive power $310,476.44; maintenance of way $444,105.96; maintenance of cars $135,484.79; general expenses $49,749.37; total $1,381,986.56; leaving net earnings $688,652.03. The
