corporation ; and the said Hudson and Berkshire Railroad Company have caused the said Josiah W. Fairfield and Seneca Potts, to set their hands and affix the seal of said company, unto this instrument in duplicate, the day and year first above written.

Signed, sealed and delivered in presence of

Abel Brown,

JAMES ELMENDORF, for the three last sigs.

SYLVESTER SPENCER,
THOMAS CONE,
ASHBEL CONE,
HENRY W. TAFT,

Seal of the W. S. R. R.

Corp.

J. W. FAIRFIELD, Seal of the H. & B.
SENECA BUTTS, R. R. Co.

The Directors of the Western Rail-road Corporation hereby respect

fully submit to the Legislature their Ninth Aunual Report for the

year 1844.

Of the Capital. The chartered capital of the corporation, is $3,000,000, and it has all been paid in or realized, as follows, viz:

$2,673,400

.

Amount paid in full by stockholders on 26,734 shares, .
The balance of the shares, 3,266, were abandoned to,

or bought in by the corporation, after there had been
paid thereon,

$40,193 20 Amount paid thereon by the Company.to

fill up the stock, and charged to “de-
ferred account,” being
the cost of the shares ($87 69,) 286,406 80

326,600

now valued at $96,

$3,000 000

Sutement of the nominal means provided for the Construction of the

Road.

1. The chartered capital as above,

$3,000 000

2. The State scrip or sterling bonds of the Common

wealth, payable as follows:

66

£135,000 payable April 1, 1868. 337,500 Oct. 1, 1868.

90,000 Oct. 1, 1869. 180,000 April 1, 1870. 157,400 April 1, 1871.

£899,900

$3,999,555 56

of the amount granted, £100 have not been issued.
3. Bonds or scrip of the city of Albany, payable as

follows:
Amount payable July 1, 1866,

$250,000 July 1, 1870,

300,000 July 1, 1871,

200,000 July 1, 1876,

250,000

1,000,000 00

Total nominal means provided,

$7,999,555 56

Statement of the assets actually received out of the NOMINAL means

provided, and AVAILABLE FOR CONSTRUCTION.

1. Amount of chartered capital paid,' .

$3,000,000 00 2. Proceeds of £380,800 of State scrip, sold in England

in 1839 to 1841, at a premium. Amount realized

here, including premium and exch'e, $1,833,911 96 Less premium,

$21,935 06 and exchange,

124,532 46

146,467 52

$146,467 52 paid to the sinking fund per acts of the Legislature.

Available net,

$1,692,444 44

3. Amount of balance of State scrip, (£519,100,)

$4,692,444 44

Subsequently sold in this country,
Less net discount on sale of same,

$2,307,217 82

138,486 75

Available net,

$2,168,731 07

4. Amount of Albany bonds,

$1,000,000 Less net discount on sale

$9,574 35 amount paid Albany sinking fund per contract $100,000 00 $109,574 35

of same,

Available net,

8890,425 65

.

Total available for construction,

$7,751,601 16 To which will be added the amount to be realized on the sale of 3,266 shares of stock above its cost of $87 69 per share—which, at present value of $96 is $27,140 46, 27,140 46

$7,778,741 62

Statement of the debts of the Corporation contracted for construction,

and payable from 1863 to 1876, as before stated.

Of the total amount of State scrip issued £899,900 the amount sold in England, is at all events payable there at sterling-say £380,800 at $4 44 is $1,690,752 00, to which must be added the exchange at the rate it shall rule, at maturity of this part of the scrip.

The balance £519,100 was sold in this country, reckoned to be redeemed, if here, at $4 80, though sold at a discount, with the right to the holder to receive payment here at that rate, on giving 60 days prior notice, or in England at sterling ($4 44,) at his option; this corporation giving him a separate agreement to that effect. Of course, the actual amounts to be paid on both parcels, depend on the rates of exchange at maturity of the several issues.

Estimating the whole at $4 80, for the pound sterling,

the amount to be paid on $899,900, will be, as stated in the last Report-loan,

$3,999,555 56 Exchange or its equivalent,

319,964 44

$4,319,520 00

Brought over, Add Albany bonds,

84,319,520 00

1,000,000 00

Total construction debt payable from 1868 to 1876, $5,319,520 00
For which there is provided in the two sinking funds as
of January 1, 1845,

389,210 17

Balance of debt to be provided for,

84,930,309 83

$186,637 40

Sinking Funds.
The Massachusetts sinking fund on January 1, 1844,

was as per last Report, Interest thereon in 1844,

$10,416 25 One per cent. on the loan paid by order

of law “from the income of the road, annually,"

40,000 00

50,416 25

And the future interest, together with $50,000 to be annually added from the proceeds of the business, is, irrevocably pledged to the pay