To the Stockholders of


The following report is submitted by the Board of Directors named in the agreement of consolidation approved at a special meeting of the stockholders, held in the city of Albany on April 16, 1913, and covers the entire year ended December 31, 1913, although the operations of the property were conducted under two distinct corporations, each bearing the name of The New York Central and Hudson River Railroad Company. The former of these two corporations merged with itself, on March 7, 1913, the following named companies, whose properties had been operated under various leases and agreements and whose entire capital stock was owned by The New York Central and Hudson River Railroad Company:

  • Buffalo Erie Basin Railroad Company
  • Carthage & Adirondack Railway Company
  • The Gouverneur & Oswegatchie Railroad Company
  • The Mohawk & Malone Railway Company
  • New York & Ottawa Railway Company
  • The New York & Putnam Railroad Company (which on the same day merged with itself The Mahopac Falls Railroad Company)
  • The New York Central Niagara River Railroad Company
  • The Spuytcn Duyvil & Port Morris Railroad Company
  • Tivoli Hollow Railroad Company
  • Tonawanda Island Bridge Company


The second corporation was formed by the consolidation, under an agreement dated March 5, 1913, becoming effective April 16, 1913, of The New York Central and Hudson River Railroad Company, Rome Watertown & Ogdensburg Railroad Company, The Utica & Black River Railroad Company, Oswego & Rome Railroad Company, The Niagara Falls Branch Railroad Company, Carthage Watertown & Sackets Harbor Railroad Company (the property of the latter four companies having been operated under the lease of the Rome Watertown & Ogdensburg Railroad) and the Little Falls & Dolgeville Railroad Company which had been operated independently. The outstanding capital stock of these companies was owned by The New York Central and Hudson River Railroad Company, with the exception of a slight proportion on which a convertible value of S2,851,766 was set.

Report of the Board of Directors to the Stockholders December 31, 1913