The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1878-03-06

Inc eFPIiIiSYitNhlt EsuilFOutt Ase-
port Tor 1877.
TIE Pittsburgh DiTuteh furnishes uS
nth iul details Of the annual report for
Iii made to the stockholders Of the
peat Pennsylvania Railroad Company
1t philadelphia o. Monday last. A brief
auaary Of this report WA given in our
Dispatches Yesterday. The full report is
rlshtr Al extraordinary document. Ills
,,usnrnt Of tho naked facts "a com-
PlStd sllh some Of the doctored up re-
pitt hAbituaIly submitted by railroad
sHpaniea to their stockholders. The
Eiatip,! feature is the confession Of the
President that there has been u vast
'stinkIge in the assetS OF the company
He accordingly wipes out at one stroke
ak, zen nominal values belonging 10
at coUpsny to the amount Of nearly
tstt million of dollars, and then adds to
ai,inuenss sum nearly million more
kS,qDlry accounts charged Oft ss OF no
'Ia., anl to this, again, he adds Sl,246..
%2uo,e under the head OF suspended
rnaant; and, finally, with one addition
rilaolher, foots up $40, ,l64,O7O "a in the
asE Of worthless and doubtful assets.
SoI.Scol ia apparently OF the opinion
AGths time has come, under the pres
~. d close competition and reduced
t,uipg, to lay aside buncOmb and apply
SaPnains knife in all directions. The
S!reelpl. Tor 1877, on the lines east OF
Paaburyb, were s. GAO $50 90 less than
hlI6, and we observe that west Of Pitts.
s'tgh, amorg the lines leased by the
Company, that tho Cleveland Il Pitts
s''sh failed by S2O7,ll3 IA to reimburse
'iEtndituEeS, which Is over five thou
aaddOllaH Of decrease as compared with
ISS-On tue sNme road. II is this fail
stOiIbe c. ( r. road to earn i,s own
tVIdthd, together With the building oi
'As IaNatNwaS road, and also the new
lln' ifcn Pittsburgh to the Lake, and
IltsNse, the completion Of tie P.W. s Ky,
''ld, tbs, las lately knocked ,dOwn the
P'ise Of Z & T thares several per cent
APpHhemions have been entertained
aA tie Pennsylvania Railroad will no,
'ag eatry a losing lcase, but, as in The
saS SO'lhe bonds Of another OF its leased
8'e'rNl!I find an excuse 10 shirk pay
aesI Ga this head. however, 1t Ia proper
Shy that the language Of Scott is quite
Nlsrriur, He submits a proposition
70 bis stockholders 10 set aside one hun
4'd tAou.lnd dollars per month, for tht
t''P"e Ol buyinS up and retiring tn,
'SStIad bonds OF these leased and guar
tA'''d lines, IA this portion Of his rO
r''Hu'Ibe matter Of much interest t.
1ltlc' our readers who are Ptockholder
aAs [ L = and Fort Wnyns roars, ",
: os'''l'h 'ppend the remarks OF Col. Nc
N'O' oI the Philadelphia Ti@e,, upon th,
F'pa'lton thus made by Scott to hi
'HsiAoIdtur
,; y easy to say now that our grea
i..yd i'Vtd DEecIora have generously blum
~. nv u their headlOng race Tor distan
a ~ out had they not erred Just As they
@ey would have been displaced b,
r,,, 5, reckless pFogresS Of the age. N
W. WpnE highway, such IA the New
n, ~ ,NeGlral, the Erie, the Penusylva.
d, IMe Baltimore Il Ohio, and the Can
i,.."sa could have lived during tho las
sSs1 ~ !eam had it been governed by III,
h, pa ,I1 h13aTcIAl policy that severe neces
1SoIS ~ ITSIeas' aud tniorCes. Philadelphii
i ~ 4. nave "a revOlIed Again1t the direction
y. y, pennsylvania Company, had i
sI content to strengthen ipelf as a 10
al. aus pay len or twelve per cent divi
nj b.d Aad allow New York, Ballimor,
i 4. ts',Icu Y, 10 Srasp the teeming wealtl
L,,. w. Wet and Pennsylvania wouI,
h. !. ntlPPtd the corporation OF itA pres
d h, ~ U'esoHed rivals TO enter the RIM
IbisS lane .i, had not the very follieI Q
Al nov complain have been 30