The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1870-02-15

otherwise would have had an equal chance TO
secure at fair prices. Such attempts, though
often repeated, have at all times failed TO
secure the professed object in view. They
nave not infrequently been commenced TO
influence the market price of the shares of
the company, in disregard of its permanent
interests, with q view TO benefit the stock
speoulations of its managers or their friends;
and at other times from the recklessness of a
suD-agent, which his superiors refuse to cor
rect or TO acknowledge, but more frequently
with the unreasonable expectation of gaining
some advantage over rival interest.
There has been much complaint by the
pubic In consequence of the higher charges
made by many railway companies for short
than long distances. In this policy, TO
limited degree, these companies for obvious
reasons are fully justified; but in many cases
this practice has been carried to an unwar-
rantsble extent. The rule that has governed
this company is, not to charge to any inter
mediate point greater rate than Is required
to one at longer distance. Under this rule,
which we think entirely defensible, the ave-
rage charges for the through and local busi-
ness per ton per mile passing over your line
are nearly equal. -
The Pennsylvania Railroad Company was
organized mainly with a view to promote the
commercial and manufacturing interests of
the oity of Philadelphia and the interior of
the State, and its management has kept these
objects steadily in view, giving at all times to
this city the differences in transportation to
and from the West, due to its geographical
position. This policy has had marked inhu-
ence in developing the manufacturing indus
try OF the city, but it seems only to have
preserved its commercial interest from
retrograding. With q view to sustain and
promote this interest, every effort has been
mQda nv thio 10 ra1una tho IOoal
expenses on produce at Philadelphia, that
necessarily occur in its transfer at seaports
to minimum; but the pecuniary and shipping
facilities required to second these movements
| and retain the business of the West at this
| CITY until forwarded to its destination appear
| to be deficient, and in consequence the larger
share of it, notwithstanding these advantages,
passes on to New York. The directors, re-
cognizing the importance to the interests of
this company of building up the business of
| this port, will cheerfully unite in any reason
able plan by which this object can be
| secured.
In our last annual report the diversity of
railway guages between the East and the
West was alluded to. Since that period all
| of your immediate Western connections have
reduced the guages of their lines from 4 feet
10 inches to feet % inches, which, when
their machinery is adapted to it, will be fur
ther reduced to 4 feet inches-the presen {
guage of the Pennsylvania Railroad.
| Since your last meeting the State of Penn
| sylvania has cancelled and disposed of its lien
| upon the Philadelphia and Erie Railroad to
the Allegheny Railroad Company, accepting
| therefor second lien upon the line that the
company is building between the Philadelphia
and Erie Railroad and its present road, at the
mouth of the Mahoning; the bonds given to
the State being guaranteed by the several
| railway companies over whose lines the traffic
of the new road is to pass to Philadelphia and
Pittsburg, thus insuring to the Common
wealth the ultimate payment of its original
claim of three and a half millions of dollars
and at the same time enabling the Allegheny
Valley Railroad Company to develop, more
| promptly than it otherwise could have done,
section of the State that is rich in mineral.
and other products-all of which will remair
undeveloped until this highway is con
| structed.
The location of this line has not yet been
completed, but the character of the country,
as shown by recent surveys, will render the
construction of railway costly. This route
is generally known as the 'Low Grade Line
| between the East and the West, the construc.
ton of which will soon be required to accom-
modate the increasing tonnage between these
| sections. Its gradients against the heavy
! traffic may be confined within eleven fee
per mile. About half of a million of dollars
have already been expended upon its gradua
ton, and its total cost is estimated at abou
$5, SOC, geo.
The Directors take pleasure in again ex
pressing the obligations of the company to it
General Superintendent, E. H. Williams
Esq, and two assistants, John A. Wilson
Chief Engineer, and A. j. Cassatt, Superin
tendent of Motive Power, for their careful
4 and judicious management of the interest
committed to their charge.
Respectfully submitted.
By order of the Board.
j. EDGAR THOMSON, President.
The Treasr,rer's rarort moo than raad ax