Evening star. [volume] (Washington, D.C.) 1854-1972, 1885-03-05

however under the injunction granted by the court,
The Pittsburg. Fort Wayne and Chicago Railway
expenditure made for the improvement and better.
ment of its property and under authority of its board
II the soa4s or Of 10
hna 1o seoTsd decision sustaining the RosSn taken
Fort wayne and Chicago Hallway Company have, IN
accordance therewth issued portion OF the securities
the necessary steps towards settlement of the bal
anse OF your account
the past year as one of the most nnre
ment Considered it WISE to Continue tie policy Of
strengthening your properties by further improving
promoting new branches for the development of the
territory naturally tributary to general system
snmed where Was Seesed direct
sa Toa Se be c
joyed by your roads.
The statement to be found previous page of this
pended upon your Main Line and branches during the
eaapmen ad sea es St w The va" aon
pended upon the United Railroads of New Jersey was
viii be required upon either these properties during
the current year, unless there material increase
of traffic or some outlay not now anticipated becomes
nons to branch and auxiliary lines the principal items
were the extension of the fourth track system
your Main Line with the New Jersey system; the
%a p @eeo deveop p tbs
important btumnous coal region the results of which
from; the extension of the Lewisburg and Tyrone
Railroad distance of fifteen miles junction with
constructed by the Bald Eagle Valley Railroad Com,
nscon Seawsen AND. thus n a. e9
ton ola branch Of the North and West Branch Rail
ties needed for its traffic The latter line. which is
comparatively new, furnishes all-rail route for
duetive than was anticipated.
The amounts Expended upon the South West Penn
Kalays were for the purpose Of acquiring additional
large amount of business, allie 10 meet the in
pany paid dividend to its shareholders.
inc the large ye ; heretofore made in mprov
have enabled it to be used during the past year
the Allegheny Mountains As a direct result thereof,
the net earnings of this property were more than
Iabiite 70 PROVIDE 'f the interest upon Its funded
The susquehanna and Clearfeld, and Ridgway and
Cleareld Railroads, both branch lines extending into
the bltumnous coal lands tributary TO your Phliade-
and securing additional for thst ROAD operation
:, The Philadelphia, germantown and Chestnut Hill
number of passengers carried has been in excess of
What was anticipated, and, though the road not
your main lines 1t fully meets the expectations of
The Pennsylvania Schuylkin Valley Railroad was
completed as far north Reading late in the fall and
country naturally tributary thereto 1t is PROPOSED
during the coming season to make further progress
trcts, looking ultimately to a connection with a
, of the Norhern Central galway at shamokin
your Susquehanna Coal Company's properties Upon
enabled to share in the from the west
to these districts of the agricultural and other pro-
tosecure in return share Of the east and west bound
No material investments will be required in new
work during the current year beyond what has been
referred TO- except In short branches to promote the
The contract with the Pullman Palace Car Company,
by limitation on January -, 1855. Ii was thought
advisable in view of the contract relations
your lines and Of the efficient In which pro-
vdes for the wants of the public, into new
agreement, rather than assume the direct manage-
the contract is not only fivorabie to Vomr Se
but Will afford all opportunity if it desire, share
the ownership and revenue of that equipment, and
The condition of the general transportation interests
OF the country fully confirms the correctness of the
views expressed in the last report in reference to the
maintenance mt OF the present pooling system, and
toward direct Withdrawal therefrom. yet they share
of the country further maintenance under ex
listing arrangements can hardly be productive good
either to the public or to the railway interests.
The marked decrease in the gross revenues of your
properties, referred to in previous portion of this
volume OF traffic but to serious reduction in the
petition of other lines and Wheh in many nsaGces
were SO 10y as to make qneStionable whether any
" by your Western lines than by those Of Pitts
burg and Erie. the of the former being more
largely dependent upon through traffic Further ma
teral reductions In rates cannot be made without ser
2bnsy nprng the railway nsere5iS Of the eeanry as
even the most thoroughly equipped and efficient
portation routes.
In view of the decrease IN net earnings your Board
felt it necessary to make reduction in the of
dividend, which, however, Is still materially above
the average interest received frstrlass invest
ments. Your management is convinced that the only
way 10 keep your lines in prosperous condition TO
make prudent but liberal expenditures for their MAIN
renance and improvement, and keep the financial
credit of your Company up to the highest standard.
IS with deep regret that the Board have record
the death of Henry NJ. Phillips esq, who had been
one of your Directors for over ten years. His ripe
judgment and pronounced legal ability made his cou
sells or great value to your Company and i'll his death
his colleagues lost warm personal friend well
trusted adviser Mr.. Clement A. GriScom. of
Philadelphia, gentleman closely identified with the
commercial interests of the city elected fiji the
vacancy thus created.
The Board renew their acknowledgements to the
officers and employees for the fidelity and efficiency
with which they have discharged their duties during
the past year.
By order of the Board.
@. B. ROBERTS, President