At the date of the Report of October, 1865, the capital stock of the company issued was $21,355,100 It has since been increased as follows:— October, 1865, by conversion of bonds 500 November, 1865, by exchange for stock of California State Telegraph Company 122,500 December, 1865, by exchange for Lodi Telegraph Stock 500 December, 1865, by exchange for Trumansburg and Seneca Falls Telegraph Stock, 3,500 December, 1865, by issue to Hicks & Wright for Repeater Patent, 1,500 December, 1865, by exchange for Missouri and Western Telegraph Stock, 400 December, 1865, by exchange for House Telegraph Stock, 1,400 April, 1866, by 2½ percent Stock Dividend, to equalize stock as per Consolidation Agreements, 472,300 April, 1866, by consolidation with United States Telegraph Company, 3,845,800 June, 1866, by issue for United States Pacific Lines, 3,333,300 July, 1866, by consolidation with American Telegraph Company, 11,818,800 July, 1866, by exchange for P. C. & L. Telegraph Stock, 4,100 December 1, 1867, by fractions converted, to date, 49,100 ——————————— Total present capital, $41,008,800 Of the stock issued for United States Pacific Lines there was returned to the company, as consideration for completing construction of Pacific Line, $883,300 The company owns also, 120,800 —————————— $1,004,100 Out of this we have issued for— Southern Express Co.’s Telegraph Lines, $150,000 California State Telegraph Co.’s Stock, 124,700 Other Telegraph Lines, 80,000 —————————— 354,700 —————————— Now owned by the company, 649,400 Balance, on which we are liable for dividends, $40,359,400 BONDED DEBT. Bonds of the American Telegraph Company, due in 1873, $89,500 Bonds of the Western Union Telegraph Company, due in 1875, $4,857,300 ——————————— Total Bonded Debt, December 1, 1867, $4,946,800