The greater portion of the debt of the Western Union Telegraph Company was incurred in the grand attempt to construct a line on the Northwest Coast, and across Behrings Strait to connect with the Russian line at the mouth of the Amoor River, known as Collins’s Overland Line to Europe, which was abandoned on the successful submergence and operation of the Atlantic Cable. The financial condition of the Western Union Telegraph Company May 1, 1868, was as follows:— CAPITAL STOCK. At the date of the Report of January 1, 1868, the Capital Stock of the Company, issued, was, $41,008,800.00 It has since been increased as follows:— By exchange for United States Telegraph Stock, $10,800.00 By exchange for American Telegraph Stock, 2,400.00 By exchange for House Telegraph Stock, 100.00 By fractions converted, 600.00 ———————————— 13,900.00 —————————————— Total Capital Stock issued May 1, 1868, 41,022,700.00 Of this there is owned by the Company, 675,000.00 —————————————— Balance on which dividends are payable, $40,347,700.00 BONDED DEBT. Bonds outstanding December 1, 1867, $4,946,800.00 Bonds of 1875 since purchased and cancelled, 56,300.00 —————————————— Balance of Bonded Debt May 1, 1868, $4,890,500.00 Maturing as follows: In 1873, $89,500.00 Maturing as follows: In 1875, 4,801,000.00 ———————————— $4,890,500.00 PROPERTY ACCOUNT. Telegraph Lines and Property, December 1, 1867, $47,733,640.68 Since added, By exchange of Stocks, as per Stock Account, $13,300.00 By Application of Profits:— Construction Account, $103,592.13 Purchase of Telegraph Stocks, 23,806.66 Purchase of Real Estate, 3,011.14 ———————————— $130,409.93 ———————————— $143,709.93 —————————————— Total Property Account, May 1, 1868, $47,877,350.61 STOCK, BOND, AND PROPERTY BALANCES, MAY 1, 1868.