Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1881-03-03
Badly 4ennebef Journal.
Augusta, Thursday Morning, Mar. 3.
A Great and Prosperous Railroad

A Great and Prosperous Railroad
The recent report of the Pennsylvania
Railroad Company makes an exhibit of
its affairs which is worthy the considera-
ton of all who have TO do with railroads.
This company controls eight thousand
miles Of railroad trayersing the most
thickly settled portions Of the United
States, and connecting the great cities Of
the East with the centres Of population
and trade in the West, represents an in
vested capital of almost four hundred
millions. employs an army Of fifty or sixty
thousand men. and received during the
past year seventy millions Of money, or
almost two hundred thousand dollars
every day in the year.
This is vast business to manage, and
upon the manner in which it is performed
depend great interests, public rs well as
private. That it is managed well the
prosperity Of the Company and the adj
vantages which it affords the public at
test. While 1t pays the stakeholder well
for his investment it gives the public
a splendidly built and equipped road
and moderate rates for travel and freight,
It does not prevent its greed for gain to
keep out Of sight the policy and need of
serving the public well and literally. The
past year has been the most prosperous in
the history Of the corporation. The in
come from the main line and branches,
which are entirely within the boundaries
of Pennsylvania. was over $50, 900, 900.
and the gross revenues of the Company
and its subordinate organizations were
more than go, 900, 900. The net surplus
from the operations of the Eastern lines
was over - 300. 900. and after paving the
stockholders OF the Company seven per cent.
upon their stock there remained balance
to the new year of more than 81. 500, 900.
The true principles of economy have been
subserved by keeping track and equip
ment in the highest state of efficiency and
maintaining its credit upon such a high
standard that 1t has been able to issue a
loan at lower rate of interest than has
ever been known for railroad bonds in the
financial history of the country. Its liabil-
tiles have been contracted and its earning
power greatly enhanced.
OF the management and policy of this
railroad the Philadelphia Press says: "In
the generation that has passed since the
organization of the Pennsylvania Railroad
Company there has never been any change
of management. 1t numbers to-day
among its Directors gentlemen who were
associated in the Commission that shaped
its organization and who have sat in its
councils ever since. Its practical manage
ment now is in the hands of younger men
than that of any other of the great trunk
lines. and yet they have been familiar
with it from the beginning. have grown
up with it. and have an intimate acquafn-
lance with its small beginnings such as is
possessed by no other railroad managers
of their rank in the country. Its policy
to-day is the same as in the past-to fur
nish to the travelling public the maximum
of comfort, convenience and safety at the
minimum cost. to accommodate the great
agricultural and manufacturing interests
of the country by maintaining its track,
rolling stock and equipment at such de-
gree Of efficiency as will permit of the
maximum of traffic with the least expense
to its patrons consistent with fair return
upon the investment of its stockholders.
1t was never in better physical or finan-
cial condition than to-day, never better
prepared to serve passenger. shipper or
stakeholder"
II is most undoubtedly true, and the
success of the Pennsylvania road proves it.
that those railroad corporations are the
most prosperous which have a proper re-
gard for the rights. comforts and conven-
fence of the public whom they serve.
Honorable and liberal dealing with the
people will gain for railroads good will
and patronage, which will give back
profits and advantages to the companies
far greater than the profits of a pinching.
greedy, selfish. and exacting policy.