I have the honor to submit the following statement in regard to the condition of this company, together with its earnings and amount of work done upon its construction for the quarter just passed. The great stringency of the times has caused our recpts to be very greatly diminished. Take the month of April for example, we find our gross earnings to have fallen off $505 in comparison with the same month in 1876 and $3136 less than in 1875. It is true our pay rolls have been reduced, but the number of ties to be replaced and the repairs of bridges absolutely required for safely will I fear rather increase than diminish the expense account. There is besides left for us to manage a floating debt of $15000, much of it due to laborers who are clamorous for their pay. If in the power of the company to annul the contracts now existing for grading it would in my opinion be to our interest to do so, although the work is being done at a price reasonably low, it is to the interest of the contractors to finish his job faster than the condition of our treasury will justify. If left to the Supdt of Construction & myself we will regulate our expenses to correspond with our earnings and push the work as rapidly as our means will admit of. 

The actual number of days worked by convicts was 10602 or 264 per day.

By actual measurement and at prices which I would consider fair and just their labor amounts to 

1200 Yds Tunnel @ $4.00 per Yd        $4800

3 1/2 miles of Track Laying                     700

2100 yds of Rock @ $1.00                    2100

6800 yds of Earth @ 15c                       1020

                                                            $8620