OF THE

PRESIDENT AND MANAGERS

OF THE

PHILADELPHIA AND READING RAIL ROAD COMPANY

TO THE

STOCKHOLDERS,

JANUARY 13, 1851.

PHILADELPHIA:

MOSS AND BROTHER.

12 SOUTH FOURTH STREET.

REPORT

OF THE

PRESIDENT AND MANAGERS

ΤΟ

THE STOCKHOLDERS

OF THE

PHILADELPHIA AND READING RAIL ROAD COMPANY.

The Managers submit the following statements of the business of the fiscal year, ending Nov. 30, 1850: