The sun. [volume] (New York [N.Y.]) 1833-1916, 1878-03-05

ne nOlcu. ~. Louis. NNnunlla ana zorro tnutc
RAILROAD. Indianapolis mud ~. Louis hailrond.
ct. Louis. Alton and Terrc Hnuie Rarond.
Grand l'npids and INDIANA iailroal. and Gin
cnnatl. Richmond and Fort Wayne Railroad.
These lines show an aggregate rs follows:
Gross earnings ........ sle,l.4is
Expenses ..,........... ... 2-23S,a
Deduct rental aud intcrcs, and hire oi coup
mcni, amounting to ............... 80. i.72iocD
Los.for 1877. Of .... ....... ......... s,9i. 3n
ot,l,,. c,,. your company aud ihc lines west
contracts arr required TO- pay. .' ~ siseom
Deduct rrout As before stated. ot..,....... 7iNi7
Set loss on all lines west of PITTSBURGH . eii,Iss
Tho difference between this amount and the
balance to the debit 81 FRONT and loss shown by
tho income accounts vi the Pennsylvania Conn
pany and the Pittsburgh. Cincinnati and ~.
Louis Railway Company. il due to the fact that
the actual advances made by these companies
to their different lines during the year were
si25i46O less than the deficits shown by the
operations of the roads.
SUMMARY DIRECTLY orkHVrp rvr
rtfrSnuEGH
Gross earnings all lines from trafc 1877 siI 1852 40
dividends Sc ..'............. sao22 s2o
Showing net earnings .................. ssOi37 $50
FREIGHT rR,rTic.
Nns,-r NJ Nss,l,r of Ta,
Az lines east nj Pittsburgh and ..-
All lines west OF Pittsburgh iir7o:e, i.i,uias,si
Total ................... . .3S27Gu5 SEQ, 2s2 ~is
r.sstSc,H rn,rric
,Ns...,,ef Ny.''', Of r..
All lines east Of Pittsburgh and
All lines west Pittsburgh 7.Tas,lsa 2Hait.iil
Total ................... go7opA5 5ia.uT. no
LOSSES ny THE PITTSBURGH RIOTS.
ny the July riots ut Pittsburgh the company
lost all its .shops. engine houses. Offices
dcpois. amt all other property capnhlc OF being
destroyed 10y frr Including the Union Depot
" \ ty-flI .
buildings owned 10y il, except tho oil hous" on
Twcuiy."iEhth street. In this destruction were
and jO6 freight ears. the whole loss aggrcgat-
INK about S2.OuOuOo In addition thereto. the
actual revenue lost Ivy The company. through
this stpppagc NJ liz traffic. ~ estimated az e..
900 OuO. and the vnlu" ot Ia" mer hHniisc in
transit destroyed at from 81 900 OOOto 81 300 900
freight ears. together with their contents. and
NuuHh" buildings belonging To your Western
Inc, were DESTROYED. and a large amount of
property hrlunging to ouiSid" rOmpani'~ and
individuals. including the large grain clcvat n
Mt Pittsburgh. So that the entire loss will prob
la acrordAncr with the laws of PENNSYLVANIA
suits ar" being ins,itutpl against the county Of
Ai.shr Il, IT,, TO recover lae hnn,ns,s thus sus-
MICS and Individuals and no doubt is enter
TIMED that the amounts found To br due will be
recovered. Pending the settlement Of these
claims. the bonrd has not deemed IL cNpcdicnt
a. reduce on the books the value OF the proper
~ destroyed.
THE LEASED LINES.
Tho board have from time coneiicrcd the
subject of the REIMBURSEMENT Of all the liabilities
81 the company ON lower basis uf interest.
and Of dcvising a plan FOR .frccing 1t in "A safe
and permanent form that will enable your lines
70 meet the general interests Of the country
Trough moodernir rats ~ TRANSPORTATION.
They are OF the opinion that this cun be- rlf"1 =
ed bv the adoutton of the following plan. viz:
That there shall lie appropriated from the net
per month. COMMENCING May /. 1873. which
sum snail b" drppsit'd III satisfactory Trust
Company In the city Of Phiadcphin, II ar
rangclnents chn 80 b" mad" which Will b. mp
proved 10y the board with which shall bc asso-
Grated two COMPETENT and responsible share
holders. M trustees under q specinl trust.
having tor its object the purchase from time to
time 81 the bonds and shares 81 other com
pnnics. which are guaranteed by the Pennsy VI
vanin Rnilrond Company. and also the bonded
debt Of III. Pennsylvania Company. except that
portion Of the Pennsylvania CompRnys BOMBED
debt. the retirement Of which IS already pro-
hercinnelore stated.
For the amount Of 81 100000 per annum 40
appropriated from the net earnings to the trust,
and such portion OF the sum that may be- tx
pended annually for. constipation and equip
ment purposes a. will complete the amount OF
stock S TO wit, 81 4oi th@ shaPe es Va to oe
entitled to receive annually scrip equivalent to
option OF tho company. bearing interest at four
per cent. per annum. payable semi-annually
and in addition thorcto the balance OF the net
The income OF the trust TO he applied
l-t. To the necessary expenses OF the trust
ID. To tho payment Of interest upon the scrip
So issued 10 the shareholders and
30. To th" purchase from time IN time OF the
outstanding guaranteed and other obligations.
as before stated.
The principa. sum Of tho entire fixed ohiira-
tons Oi the company upon leased lines and
guaranteed securities covering 3.4l5 miles Of
l-iocat"d railway lines and 4Os miles Of
canal. may be stated as follows:
United Sew J,r-, Railroad ami Camni
company. intending al companies IN
~hich a,concernct a, raarantor ea7.sr,6 671 o.
Ptnn-N wanna Railroad Company
Al neseastw Pittsburgh and Erc. n $50 2,s o.
All lines west ot Pittsburgh and ke ... .eD3ii Is
Bonded Indebtedness Of the Pennsylva
MA Company ....... ...... ..... KIT. 7rno,n ~
Deduct amount Of bonds redeemed and In
sinking mnd 45nU,o 90
The balance II these nXed liabilities sl~5l6a u3 ~
| The average annual interest and cuarsn.
| tee tnotron i 10 per cent. or IN
round number. -. 800. si3.+nooo On
To meet this uhlig auon. the
net earnings Tor 1871 frnn
the Western lines were 81 MS. S57 %
| FROM all line. east OF Pitts
hufg h and Ere, after paving
interest IN tie debt al the
PennsNlVaniA Railroad
trhp.a, and entail al it,
l.. arch lines worked at
th-.- cost t.: the same pc
roL ..............'' .iOstt s33 ia