The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1871-04-04
CATAwlsSA.

Annual Meeting of the Stockholders of
this Railroad COmpany-Its Business
During 1s7O-The Extension TO will
Iiamsport-InterestIng Reports.
At noon to-day the stockholders of the Cata-
wisea Railroad Company assembled In their an
nual meeting, William 2. Chandler, Esq, pre-
siding, and Edward johnson acting as Secre-
tary.
Webb, Esq, was read. From 1t we make this
Receipts during 1870. 0..........,....$655 ,SlS S5
Expenses ................ 43l, 81
Increase of earnings over those Of 1869 equal to
and 747-thousandths per cent Increase OF ex-
penses those OF 1869 equal to and 133-thou-
sandths per cent. Early in the year there was q
shipped In car loads on our line. To meet that de-
crease, and also to enable our neghbors to keep in
the market in competition with Western dealers
whose trade was fostered by other routes, we re-
duced through car load rates 20 per cent: The
result was quite satisfactory Our local trade was
stimulated, and because OF its regularity we were
able to move 1t with economy.
saving has been made in motive power and car
accounts. his is partly due to the policy pursued
In past OF using none but best material for con-
struction and repairs, and partly due to saving in
ton OF coal schutes at Catawissa early In the year.
: During the year past we have been free
from any serious accidents from broken rails, but
heavy renewals have been made necessary by &C
service with our light gross tonnage would
commend the use OF steel rails for all renewals as
soon as practicable II Is gratifying to be soie to
passenger has been Killed on this road
The report OF the President, Mr.. p. Hutchinson,
was read 1t shows the capital and bonded debt to be
1896 500 aud then says:-The increase of tonnage
on our local business was 1917 per cent. over the
previous year. Notwithstanding the reduction in
rates Ude Superintendents repor and the low rates
ruling upon ali roads during the past year,
the receipts were increased 14Il000 per cent Alu
sion was made in the last annual report to surveys
having been made for a branch into the Black Greek
in that direction, owing to the want Of cooperation
on the parl OF the landowners, and their unwilling
ness to guarantee a remunerattve tonnage, and the
uncertain tenure by which the lands were held. The
object anticipated, OF securing anthracite tonnage
from the Lehigh region for the Western market, has,
however, been obtained by the construction Of the
Wesckow Branch Railroad, from several i'm
portant collieries in the Hazletown region,
ITO connect with our Summit Branchl, now COM
pleted and only waiting the resumption OF mining
operations to throw large amount Of coal over our
branch Since the charter of your company
was obtained its extension to Wiiiamsport has
always been kept steadily in view; the inability to
do so is owing to the financial condition of the com
pany An arrangement has been made with con-
Meeting roads, by which, under lease, that place
and r Gy ,at b Lease tue
interest, everything moved satisfactorily. The
approaching termination of that arrangement
1nduced your management to proceed
Immediately to the construction OF road. Aided
by the subscriptions along the route and the friends
in negotiating a per cent. mortgage loan ear of
tax for the building OF the road, Including s,ee
the same completed by September of this year. To
avoid as much possible any new competition with
JDe InlauelpHla ana Erie railroad, as
curing the best and cheapest line, the
route chosen across the river at Milton through
Union county, crossing several productive valleys
and recrossDg the river near Muncy, and thence
passing Loyalsock creek TO Williamsport, thus ac-
road facilities. The completion Of the Nesqueho-
ming Valley Railrosd has given us shorter line than
is practicable by other route to New York city
and Central New Jersey. This has added consider
ably to our traffic.
The report speaks, in conclusion, OF the death OF
s. V. Merrick, ESQ.,, OF the directors. The va
cancy caused by his death has been filed by the ap-
pojntment OF Emor Weaver, Esq.
The reports were accepted and the meeting ad-
journed.