New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1878-03-13
THE PENNSYLVANIA RAILROAD.

THE ANNUAL MEETING OF sTOCKHoLDERs-THE
REPORT DIscCssED-sALAIIRs OF OFFICERS
AN ADJOURNED MEETING TO BE HELD.
PHILADELPHIA, March 12.-The annual meet
ing Of tho stockholders OF the Pennsylvania Railroad
held at 10 m, to-day in Music Fund Hall, and,
expected, very largely attended. Notwithstanding
the bad weather. Many prominent citizens pres
ent. The Mayor OF this city, w. 9. stokey,
presided. There was considerable discussion
at the beginning to whether the report
(which has already been publishe should be read and
II decided affrnatiyely. During tho reading many
questions asked in explanation OF certain matters
which generally answered by Colonel Scott. He
said his salary ga GOO year the reduction.
Before that he got $50 o00 The yicepresdents got
$4,000 and $4,000. The other officers of the COM
pany have salaries from $4,000 TO $1,000. aud the
presidents, $500. When that part of the
DuaI report read concerning the purchase OF
N. Empire Transportation Line, quite q number
OF questions were asked Colonel Scott tie thought 10
profitable investment ana he was eouhdent from
the earnings OF the transportation company. that the
entire purchase money cuud be pad of II four years,
whereas eight ten years allowed IN which TO 10 50.
Tie Old LmpHe company, he sld. mao iots Oh hOhey,
aud h9 believed the Pennsylvania Company would
also make money Oa Of IT, several years ago the CONF
pAby corld not nave Deen purchased aINahtaee0usy,
but last Fail u had been done 20 great advantage Me-
Potter. 5OchhOider objected IL the Proposed fuudnS
measure OK the Ftnhs} wanna company, because TWO
stockholders and trust company had the purchase and
guarding Of 81 s5,G0OOOJ of sCcurites.
: resolution introduced 81 the annual report Swing
the company power 10 create "a trust 10 und ITS debt,
taken ana discussed az very great icaStI. Mr.
Mater SmtI opposed III amendment ploTlulus thai
Der cent dividends he first set auaTt before the money
shall be token ont OF the net innings Of tle cDmpens
Mr. StriEnr,Z moved iAAr the annual rctf< he re-
.trsi q committee stockholders, VI t NJ ,ciIOI8
make inquiry TrgrIG To the scSrrtl Cn- OF the
port, ana especially that touching proposition
ito create A the purchase O certain sccities
and report the result "a said Inquiries ~ Adjourned
meeting uf stockholders, tU be ed III tie same place On
Tuesday, March 70 al 10 a. ~.
Colonel -coiG lrgc,yd that the chair appoint COM
Miiiyc seven, aud jn tie meeting be AcdneEt Mon
DAY week. ustcad next TUESDAY week. he hoped the
committee would -icr the entire report thoroughly,
and make iull report al dat Tine.
Mr.. ctc!umttZ accepted the suggestions Of Colonel
scott and he further added that the stockholders ssOud
report a meeting % bc held Tuesday week. when the
stockholders could The amendment adopted.
Mr.. McCoOk, Of NewiOrk, representing many share
holders OF AewYOrk, offered resolution providing that
the char appoint committee Of seven stockholders 10
confer Win the pT,stni directors aud recommends
ticket for directors Dc voted for az the annual
meeting. This was agreed TO almost unanimously.
AIesO.utiOD or thDS, 10 die Mayor 81 Philadelphia,
for his efforts IN preventing riot and loss 10 the COM
Ianys premises IL ts cy last summer, was Gnani.
uOusly adopted.
resolution offered by Tr. Sutton Nil be referred TO
the Committee OF : ven when appointed hN The Mayor.
It provides that free passes shall De Issued, no Ice
IL sht carried, and no fagurltsm IN u1nspyrtation
shown IL also ufg"r that the eXons,S Of the road be
reduced consistently viii saeiy anu that TIC number VI
officers be reduced
ihc meeting thcu adjourned.