The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1872-02-23
The E'onuS5Evauia Elci:Toa0 Eepert---

Operations *, ga" So,:1Ga, &c.
The annual meeting OF the Pennsylvania
railroad Company was held in the Concert
Hall, Philadelphia, on the 10th instant. The
report Of }. Edgar Thompson presidenD for
| 1911 shows the revenues Of the lines operated
| 10y the company and the amounts paid for
their working expenses, &C., as follows:
From the Pennsylvania railroad and
branches, 31S.7l9. $3.50; Philadelphia and
Erie railroad, S3,5io, 255.73. Total, S22,-
2G2 ,100.5S. Expenses of both railroads,
| SD 800, 69701 profits, $3.50, 403.jl. De
| ducting dividends, interest, &C., amounting
to 8, 421 1928, there is left q balance to the
credit of profit and loss on account Of the
! Pennsylvania Railroad Company Of $780,
29Q.7S. From which deduct the excess Of
advances made by the company over the
| amount received from the united companies
OF New Jersey and the Philadelphia and
| Trenton railroads toward the payment OF
interest, dividends, and operating ey-
pcnscS, &C., prior to january, /, 1872,
$9JG,25S.23, less the profits OF the lease
| Of the Pittsburgh, Fort Wayne and
| Chicago and Pittsburgh and Erie railroad un-
| til transferred 10 the Pennsylvania Company
Oh April /, 1871, SIS, i.U2, leaving Il net
| balance to the credit OF the business Of 1871,
24,sIG.5,.
The lines controlled by the company be-
yond Pittsburgh are held by the pennsyl.
yania Company This company has capt.
tai stock OF Sl.,000.0Oe. OF this, S5,c00,C00
(prcierred stock is held by The Pennsylvania
Railroad Company i'll exchange for its leased
| roads, etc., transferred 10 the Pennsylvania
Company. The remaining 100000 of stock
| (common) is held subject to be disposed of to
individuals at not less than par. The prcsI-
| dent bccyes tiat after 1871 ihis company
| will pay SIX per cent. per annuin.
| The Baltimore and Potomac railroad will,
it is stated, bc completed during the ensuing
winter. 1t will be connected, through Rich.
mond, Va, "With the whole system OF south
crn railways south Of this point, now largely
controlled lay the Southern Security Com
!,any, in which this company becamcs share
noider to protect its Investment in the ljalti-
more and Potomac railroad. The Southern
security Company is composed Of gentlemen
friendly to our interests and objects, and OF
which General G. w. CtIss is PRESIDENT
The report continues :: g At the instance
Of the citizens Of the growing and prosper
Gus city Of York, the Pennsylvania Railroad!
Company purchased the stock Of the Wrights'
Vile, York aud Gettysburg Railroad Com
| iIil!J, tljClI WHICH, llllC li.o bSSi
destroyed by tic ConfcdcratcS during thciI
raid into Pennsylvania, Immediately before
the battle Of Gettysburg, and since only
temporarily repaired. They have also pur-
chased the stock OF the bridge recently
erected across the SusqIlehanna, at cost oi
about 100000, in place OF the one burnt by
lie citizens OF Columbia to protect them
from the rebel invaders, and have consoli-
,;ateu the stock OF 10th with that Of this
company, thus extending your railroad to
York, where it connects with the Northern
Central railroad, and by it and is branches
with Gettysburg.
a branch line is being constructed from
Eear Greensbur@, in Wc>tmoreland county,
10 Connc.sville, tic extensive coal-iicldS SUI.
rounding which place arc celebrated for The
valuable properties OF the coke that they pro.
ducc, the consumption Of which Ill Pitts
DurSn, Chicago, and other western cities,
affords a growing and important traffic with
which tuc cars that would otherwise return
empty to tie West may be loaded. a elSe
OF Il line recently constructed between the
Pennsylvania railroad lit Lewistowu, and the
Northern Central railway below sunbury,
was entered into late in the past year by this
company, TO be. worked at cost"
The grain elevator having proved unsuitcd
to tue Philadelphia markets, gr9inary has
been erected with bins, where each parcel Of
grain may he kept separate. The company
took $40V, 900 Of the SI04,T00 capital stock OF
the American Steamship Company, which
also issued 81 100000 six per cent. currency
bonds, and now has under construction four
first-cass ocean steamships, to cost per con-
tract s., 0S0,0O0. The slips will lie named
the Pennsylvania, Ohio, Indiana, and Illinois.
The opinion is expressed that narrow
gauge railroads hereafter TO be built cannot
injuI'ousy affect any leading line OF railway
OF the present established gauge.
n the stockholders debate which ensucd
Mr.. Hulms took strong ground against the
transportation of freight by the cars of the
so-caIed fast freight lines. The president,
| Mr.. Thompson, WAS quoted as concurrinS i'll
the opinion that the system was wrong in
principle, but he thought the way to Kill it
was to encourage competition among the
lines to an Improbable point. Another
stakeholder thought tile railroad company
was 4 mighty hunter, but all the game it
bagged was turned over to the Pennsylvania
Company, composed Of the officers Of the road.
Ia reply it was commended that the Pennsyl-
yania Company was only bureau OF the rail-
road company.
Tic War Of Giants.