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Maps, plataa, charts, ate, may ba fllmad at diffarant raduction ratios. Thosa too larga to ba antiraly includad in ona axposura ara fllmad baginning in tha uppar iaft hand cornar, laft to right and top to bottom, aa many framaa aa raquirad. Tha following diagrams illuatrata tha mathod: Las cartas, planchas. tablaaux, ate, pauvant Atre fiimAs A daa taux da rAduction diff Arants. Lorsqua la documant ast trop grand pour Atra raproduit an un saui ciichA, il aat fiimA A partir da i'angia aupAriaur gaucha, da gaucha A droite, at da haut an baa, an pranant la nombra d'imagaa nAcassaira. Las diagrammas su!vants illustrant la mAthoda. 1 2 3 1 2 3 4 5 6 ^ > t^kxn llatltoag. REPORT ANn STATEMENT OF ACCOUNTS, TO BE SUBMITITJ) BY THE BOARD OF DIRECTORS OF THE GREAT WESTI-RX RAILWAY COMPANY. -•^^ TO THE ANNUAL MEETING Of SHAREHOLDERS^'' '}^ ON MONDAY, 6tii JUNE. 1854. Ci HAMILTON : I'lusTKi) AT tin: sim(t.vi-ik (ikkk i;, ("ouuT-iKir-io sgu.vui' 'W is. VI. mm^im^ wm^mm (imt Mt&ttxn lailtoag. REPORT AND STATEMENT OF ACCOUNTS, TO BE SUBMITTED BY THE BOAED OF DIRECTORS OF THE GREAT WESTERN RAILWAY COMPANY, TO THE ANNUAL MEETING OF SHAREHOLDERS, OH MOKDAT, 5fh JUNE, 1854. HAMILTON, 3lST MAY, 1854. PKINTID AT THE SPKOTATOS OFMOI!, OOUBT-HOUSK SQUAKS. /- 1^(.<^ it REPORT. The Directors of the Great Western Railway Company, whose term of Office will expire on the day this Report will be submitted to the Stockholders, beg to make the following Report of their proceedings during the past year. From the statement of Accounts appended to this Report it will be seen that from the date of the last statement, there has been expended the sum of £1,382,506 8 The expenditure as appeared by the last Re- portwas 1,322,758 2 10 The total amount therefore expended to the 30th April, 1864, was 2,705,264 8 6 From the date of the last Annual Meeting, the most strenuous exertions were used to press forward the completion of the works, and the Directors are happy to be able to report that in opening the various sections of the Line, they were able to anticipate the period indicated in the Report from the Board. By dint of very great exertions on the part of the Engineering Staff and the Con- tractors, the Directors were enabled to run a train through from Hamilton to Niagara Falls on the 1st November, 1863, and on the 10th of the same month, to run trains regularly for the accom- modation of the Public. On the 17th Dec. 1863, the line was furth- er opened to London, and from that day trains made their regular trips between the Falls of Niagara and the Town of London. And on the 23rd January, 1854, the Directors were enabled to open the line throughout, and to let this Railway take its place as a link in the great highway between the East and West. The great and important benefit which this line of Railway has con- ferred, both upon the districts through which it passes and upon the American through travel, may be found in the fact that between the 10th November, 1863, and the 31st May, 1854, the sum of £108,510 has been received, and 143,046 passengers carried, with- 01 the smallest injury to life or limb. iH iff li The Directors will not at this time dwell at length upon the Traffic operations of the Company, because they recommend that the revenue accounts be made up to the 31st January, and the 31st July, in each year, as tending more equally than any other periods, to equalize the Semi-annual revenue of the Company. This ar- rangement will necessitate another meeting of the Shareholders in the month of September next, for the purpose of submitting a state- ment of the Revenue Accounts of the Company, made up to the 31st July, and of declaring a dividend; and the Directors would recommend that in any application to Parliament for increased powers, that authority be sought to hold Semi-annual Meetings of the Stockholders in the months of March and September in each year, and that the Election of Directors take place at the Septem- ber Meeting, in lieu of, as now, on the first Monday in June. Great progress has been made towards the final adjustment of all the construction Contracts, and with one or two exceptions, the whole are now closed. It is satisfactory to be able to report that this has been accomplished without resorting either to litigation or arbitration. The ballasting of the line is now being rapidly proceeded with under a contract. The successful manner in which, under very great disadvantages, the line has stood during the past winter and spring, afford convincing and satisfactory evidence of the soundness and stability of its construction. The Shareholders are already aware that the cost of the line has considerably exceeded the original estimates, which were seriously insufficient when rendered, and the great increase in the price of land, labor, and materials, has again added more than was anticipa- ted, to the entire outlay. It may be stated that the estimates for Rolling Stock and Station accommodation were originally made without any correct knowledge of the probable requirements of the now ascertained traffic. The experience had up to the present time, shows that the quantity of Stock estimated for originally has not been at all sufficient to serve the local traffic. The Directors have therefore entered into contracts which will place upon the line the following stock, which they anticipate will be actually, necessary to accommo- date the traffic of next winter, viz : 48 Locomotive Engines, for Passenger and Freight Trains. 8 Ballast Engines. 45 1st class Passenger oars. 40 2nd " " Emigrant cars. 20 Baggage, Express, and Post Office cars. 100 Platform cars. 900 House Freight cars. 60 Cattle and Sheep cars. 400 Gravel cars. The amount of Station accommodation, which was always under-estimated, will also have to be materially increased, if the business is to be done at all conveniently and economicfdly. Since the last annual meeting, an issue of convertible Bonds, to the amount of £250,000 sterling, has been made in England, and readily taken up by the existing Shareholders. In pursuance of the authority given to the Directors at the last annual meeting, a contract has been executed for the lease by this Company of the Hamilton and Toronto Railway. Acting upon the instructions of the last annual meeting, the Directors did not neglect to endeavor to complete an arrangement with the Grand Trunk Company, on the basis of that agreed to in England by the representatives of «both parties, in May, 1853. Your Directors have always expressed their willingness and desire to enter into a fair and equitable arrangement, and they now hope that there is every prospect of the relations of the two Companies being placed on a satisfactory footing in terms of the agreement referred to. It is necessary to mention that certain communications have lately passed in London between represen- tatives from the two Companies, amongst which was a proposition for an amalgamation of the two Companies. This question was carefully considered and at length declined for the present. til The question of purchasing the Erie and Ontario Railroad, which has formed the subject of a Special Report from the Board, will be taken into consideration at the adjourned special general meeting, to be held on the l9th of June. Since the last annual meeting, the Directors have concluded an advantageous contract for the lease by this Company, of the railway portion of the Suspension Bridge across the Niagara River. By the terms of that contract, every risk of the soundness and stability of the structure rests entirely with the Suspension Bridge Company, the Great Western Company being totally relieved of all responsibility in the event of the non-success of the principle upon which the bridge is constructed. The Directors, in furtherance of the authority conferred at the last annual meeting, and also in pursuance of the resolution come to by the English Shareholders, at a meeting held in London on the 10th of May, 1853, concluded a contract for the con- struction of the Samia line. By the terms of this contract, the line is to be completed within twelve months of the giving of a notice to the contractors to commence operations. The Directors, feeling the great importance of the Sarnia line, as affecting the permanent interests and security of the Company, in December last gave notice to the contractor to purchase and clear the right of way, so as to be in a position to carry forward the works at an early day. The Directors have to report that the absolute necessity of completing the laying of the main line before the frost set in, prevented the possibility of the Gait Branch being finished last season. Until the frost broke up, of course nothing could be done ; but the laying of the track is now being proceeded with, and the Directors hope to be able, in a few weeks, to open the line to the public. The Directors have to report that they have concluded an agreement, subject to the confirmation of the shareholders, to lease the extension of the Gait branch to the town of Guelph. This line, I > V of in, last be which passes through a district remarkable for the large quantity of flour which is annually manufactured, is considered to be a judi- cious measure, as making the Gait branch more profitable, the cost of working the extension being but little more than if the Gait branch remains as it is. The terms upon which it has been proposed to lease this line of seventeen miles are : that upon the completion of this extension, which is guaranteed not to cost more than £120,000, this Company will lease it in perpetuity at a rent of six per cent., with the privilege of purchase at any time within three years. The Directors have given notice of an application to Parlia- ment for power to construct a Branch of about twenty-eight miles from the niain line to Maiden, immediately opposite the point to which a branch of the Southern Michigan line is to be brought ; and they have also given notice of an application for a line of seven miles, to connect Brantford with the main line. The Directors, feeling the necessity and great importance of a Siteamboat connection between Hamilton and Oswego, have entered into arrangements to secure the construction of two first- class Steamers for that purpose, which it is hoped will be ready in the course of the present season. The Directors propose that at the half-yearly September meeting, the Shareholders elect two Auditors for the ensuing year, and do the same at every succeeding September meeting. The Directors have now adverted to all the points relating to their proceedings during the past year. The English Shareholders have, as before explained, appointed a Committee of their number to communicate with the Board in Canada, and with that Com- mittee the Board will doubtless be most happy frankly and freely to confer. The Directors cannot conclude this Report without congratu- lating the Stockholders upon tha opening of the line in so suc- cessful and favorable a manner, and at the results which even now present themselves. The most extensive arrangements for interchange of traffic have been made, or are now in progress ; and 8 i ; as the Company is fortunate enough to have friendly relations wi^h all other lines of railway which it comes in contact with, either in this country or the United iStates, the Directors feel justified in expressing their firm conviction, that, if allowed independently to develope its resources, the Great Western will prove a valuable and remunerative investment. All which is respectfully submitted. (Signed) ROBERT W. HARRIS, President. with ither ed in ently lable It. i 10 Db. GREAT WESTERN RAILWAY Eastern Division — 42.25 miles. Niagara to /Jamilion. Grading Masonry Bridging Superstructure, exclusive of iron . Cektral Division— 75.90 miles. Hamilton to London. Grading Masonry Bridging Superstructure, exclusive of iron. Western Division — 110.80 miles. London to Windsor. Grading Masonry Bridging Superstructure, exclusive of iron, Galt Branch— !2.02 miles. Fairchild'a Creek to Gait. Grading , Masonrv Bridging Superstructure, exclusive of iron . Cost of iron Right of way for the whole line Engineering for the whole line Station Buildings Cost of Locomotives Cost of Cars ," Cost of Steamboats Agencies, Brokernges Interest on Shares and Bonds, &c Law Charges Police Force fctalaries . Printing, Stationery, and Advertising, Incidental and other charges a 8. a. 72051 31917 8 7474 2 5 4891 4 4 800697 10 7 64780 10 1 25292 2 19329 17 2 113633 8 8 12655 18 2 19055 14 25105 22233 5 6777 16 5 2135 9 2 3017 272223 11 5 9S936 11 II 46495 3 2 11656 14 7 34687 10 38934 11 8 69844 9 6 6049 2 7 1990 6 8 .'669 14 8 2703 19 .■) 10620 5 IC £1322768 2 10 1.1 .■s« a n V &! H 81213 51299 83192 70654 148986 85787 45695 7817 84653 278'- 670 6371 1301 G386 76162 6 6 66310 10 5 28081 12 8 42066 2 1 161605 8 4 60624 14 7 17406 2 69720 2 4 154678 7 5844 11 10 18*55 14 6 78887 7 11 9098 14 2 3810 17 4 1763 8 8 2900 16 7 11 8 4 12 16 3 11 9 II 15 7 4 19 3 £1882506 8 Total. £ s. d. 148203 6 5 88i!27 13 5 80506 16 I 46957 6 6 462202 13 11 116405 4 8 42698 2 2 89049 19 6 268811 15 5 18600 10 37211 8 9 98992 8 6 81326 19 2 9588 13 9 8888 17 10 6017 16 7 Grand Total. £ 8. d. 318894 I 4 699356 3 423016 2 8 60722 853437 150236 78587 70654 160643 120375 45695 41761 154498 7834 2569 11(131 4004 16957 7 4 6 12 2 14 10 4 7 6 4 16 5 1 1 12 C 6 8 10 3 19 U 5 1 £2706264 8 6 Office of the Great Western Railway, Hamilton, C. W., May 31, 1854. "F LWAY lAND Total. £ s. d. 118894 I 4 199356 3 23016 2 3 50722 7 4 58437 6 50236 12 2 78587 14 10 70654 4 50648 7 20375 6 4 46695 1) 41761 15 5 54498 1 1 7834 12 G 2569 6 8 11(131 10 3 4004 19 9 16967 5 1 )5264 3 t) 11 CAPITAL ACCOUNT. Amount paid on 49362 shares " Convertible bonds (option 1S56, 1860) . . ', " Non-convertible Bonds, redeemable 1873 Loan from Provincial Oovernment Premium on sale of Provincial Bonds Forfeited shares '.'.'.'.!!." Temporary loan from Bankers '...'.'.'.'.'.'.'.. Balance Amount. £ s. d. 1230370 15 1 735700 215623 244444 9 80555 11 2596 1 9 218242 9 8 27729 17 Q. McKENDRICK, JVeasurer. I