The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1879-03-06
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Pennsylvania Railroad for Last Year.
PHILADELPHIA, March 4.-The Penn.
sylvania railroad report Is published to-
day, and Is quite favorable as was expect.
ed. 1t will show that the company has
earned o per cent on It's capital stock, and
that Western lines have paid profit for
the first time in some years, The main
line, from Philadelphia to Pittsburgh,
earned S9O,3l7,l 1850 gross, and $O,SOO,OS
net, which was a gain Of over million.
This was mostly due to the heavy increase
of Sl,250,0OO in freight, with increased
freight expenses Of less than $500, 900.
After payingall rentals, interest and taxes,
there was still surplus Of over 81, 900, 900,
or per cent on the capital stock. There
was falling of on both freight and pas.
senges on the New Jersey division
amounting to half a million, but the road
Is In such splendid condition now that the
maintenance Of the way Is less expensive,
and the operating cost 80 much less that
the net earnings were increased to over
$30O0,000, The Pennsylvania guarantees
10 per cent, 80 that Il had to make
up 81, 1870 deficit on This division, q
gain over 1877 OF S350,0O0. The Phila.
delphIa and Erie suffered from diminish.
ed oil traffic and low rates on through
freight, making its net earnings, after pay.
Ing rental on equipment, less than 500.
0O0. The Pennsylvania had also to meet
hall the loss on the operations OF the
Elntra, Chemung, and Canandaigua Diyis.
ions otthe Northern Central, q $l47, 1873 de.
ticit; Pennsylvania Canal, S30,6lt; Shamok.
IN Coal Company, $7,5i5; Baltimore and
Potomac, deficit about The same IA last
year, OF Sl5l, 1885,; American Steamship
Company, deficit in meeting interest and
advances TO the Company Of $55, 900; al.
iegheny Valley, deficit on guaranteed
interest of SAC, 200; Philadelphia and
Erie, deficit OIL guaranteed interest OF
$23l ,6o4; Grand Rapids and Indiana, a
deficit in meeting liabilities Of S2S5, 25O.
This left q balance to the credit OF the In.
como account OF $i,32l ,003, out OF which
was paid per cent dividend. After
charging of reduction in value OF securi.
nes, sundry accounts charged of, and
otherstransferred to the suspense account.
there was still over s. 500, 600 to the credit
Of profit and loss, which is thereby increas.
ed to over S4,000,00O. There has been
only S3iOI078 added to the construction.
equipment, and real estate account, re.
presented by the purchase OF additional
rrIignt-ot'way and two new iron bridges.
ms year 1t Is proposed to make further
improvements on the main line, build
new pier and elevator at Jersey City, and
new pier and tracks in tho Navy Yard |
lot In this city. Tho floating debt Of the |
pennsylvania Company, amounting to
y 900, has been entirely paid oil, and |
the floating debt OF the Railroad Comma. |
ny has been reduced $550,00O. 1t was
$3.50, 600 at the beginning OF the year, but
1t is now almost paid of. Nine thousand
two hundred and fourteen cars have heen
added To the road during the year. The
net earnings OF oil the lines east of Pitts
burull and Erie was ST., 1888 $50, IN increase
Of 81 ,2O0, 1872. The gross earnings per mile
OF the main line, $l6,S50. The cost OF on.
Grating the main line and branches was
81. 70, against So. 90 the preceding wear. An
lines except the Philadelphia 4 ErIe show
reduction o. the percentage OF operating
expenses Y inc tonnage movement over
the Min line and its branches was H.
b21,22S, showing an increase Of II per
cent ON which the average receipt was
O.0S9 cent; the cash OBS cent; the
profit 03O4 cent. Barely fifteen per
sent OF the total was through freight.
Phpre was a decrease OF passengers
except on the main line, and Of mileage on
all the lines. Only ono piece Of baggage
out OF VICIOUS carried was lost during tie
year, Tho passenger earnings per mile
were $500 cents; the cost, l.7a9 cents,
leaving profit OF O 507 cent. East bound
freight was double the West bound, which
shows falling of. Tho coal companies
made profit over the year before, but the
decreased tonnage on the road more than
offset 1t. Tho gross earnings OF all West.
ern lines were SIS, 700, 29S, and the ex-
pepses, $l5, 1885. Rental ard interest
were $7,G9l ,s34, leaving 6 net proft Of
S9l4, 1888, but this would have been NOD.
0OO less but for the cancellation Of the
Pennsylvania Company's bonds held by
the railroad company. The net profit on
oil lines, after all deductions, we're $7lS,-
$40, which Is q gain oyer tho proceeding
year Of SS3O,64S. Tho amount expended
Tor hetterment purposes on these lines
was nearly 81 ,000,0 900, and now the Pitts.
burgh, Cincinnati h st. Louis is all steel
rail, and the Fort Wayne has only sIxty.
one miles OF iron loft. Tho Fort Wayno
had 500 new freight cars built for It at a
cost OF 100000 The gross earnings OF
all lines were So, 426, 062; expenses, $685.
1904: net earnings, !2l, SI5,928, The |
West bound freight agreement hns yrorlod |