REPORT.

OFFICE OF THE ANNAPOLIS AND ELK RIDGE RAIL
ROAD COMPANY:

December 10th, 1866.

Resolved by the President and Directors of the Annapolis
and Elk Ridge Rail Road Company, that copies, of the Semi-
Annnal Statements, showing severally the number of passen-
gers transported on this road, in connection with the Wash-
ington Branch of the Baltimore and Ohio Railroad, from the
1st day of June, 1866, to the 30th day of November 1866,
both days inclusive, and of the receipts and disbursements of
this company during the same period be prepared and attes-
ted by the Secretary, and forwarded respectively to the Gov-
ernor, the Treasurer and the Comptroller of the Treasury of
Maryland.

Resolved, That the balance of $4,158,70 shown to be on
hand, as of the 30th day of November, 1866, being subject to
the payment of sums due the Baltimore and Ohio Railroad
Company for passengers passed over the Washington Branch
for the Months of October and November 1866. Also to the
payment of the company's note of $5,000.00, due to the
Farmers National Bank of Annapolis, is insufficient to meet
the outstanding liabilities and "necessary current and proba-
ble contingent expenses" of this company; and consequently
there is no surplus, out of which to pay net profits into the
Treasury, or to declare dividends.