The annual report of the Toledo Ann Arbor and North Michigan railroad company, whieh has done mucli toward ïncreasing Ann Arbor's prosperity, has been received at tlus offlce. It shows a very giatifying business to have been done during the year 1887. The receipts of the year froin freight was $308,547.18, from passengers S133,930.49 and from other sources snfhcient to bring the total receipts to the respectable figure of 8535,752.95. The receipts for the last six months of the year exceeded those of the rlrst six months by over $60,000. They exeeeded the receipts ot 1886 by $155,501.96, and of 1S85 bv 234,526.45. The operating expense of the roaxl during the year was 342,605.87 and the interest paid on the bonded debt amounted to f 184,800. A good share of the operating expenses, cousisted in impiqvementi made to the road bed. The inciease in tonnage during the year was nearly forty per cent over that of 1886. Thelieight earnings increased nearly tíf ty per cent and the passenger earnings seventy-seven pei cent. President Ashley esti matea tbat tbe receipts of 1888 will reach $844,000. The Cadillac road was comleted during 188S and completes ihe main line of the road from Alt. Pleasant to Cadallac a distance of 64 miles, mtvking a main line of234miles. Theestiuiated inciease iu earnings from the Cadillac extensionas notless than half a milliou dollars. The last rail on the Muskegou road was laid December 25, 18S7. Tnis load runs from Ashley on the T. A. A., andN. M. railroad to Muskegon, 96 miles and is run in connectiou with the Toledo road. The Saginaw road from Durand, on the line ot the Toledo road, Co East Saginaw is excected to be completed by uext July and to be run in coimection with the Toledo road. This road will be extended to the Straits of Mackinaw. A new connecting road is being built from Cadillac to Frankfort on JLake Michigan to be operated by the Toledo road. It will be sixty-thiee miles long. A company lias been organized to builu a road from Marión on töe line of the Toledo company, via. Petoskey, Charlevoix, etc, to Mackinaw 14U miles and a good portion of the right of way has been secuted. A new road is also projected fiom Mt. i'leasant west tlnough Big Kapids. All these conuecting roads will greatly swell the volumn of business on the P. and A. A.