New-York tribune., 1885-03-03
RAILROAD INTERESTS
ANNUAL REPORT OF THE PENNSYLVANIA
LOSS OF THREE MILLIONS IN NET EARNINGS FhoM
THE PREVIOUS YEAR.

ANNUAL REPORT OF The fENNolL'A In
LOSS OF THREE MILLIONS IN NET EARNiN1' r"o'
THE PREVIOUS YEAR.
PHILADELPHIA, March 2.-The annual report
of the Pennsylvania Railroad Company forlos4' winch
will be submitted to tho meeting OF the stockholders Oh
Tuesday was made public this afternoon. 1t shows that
on the main line branches Philadelphia 10
the earnings were 3O196,SS5; the expenses %
1O6 the net earnings, ,62l779 to when Is W 10
added interest from investments, and from other eh'
Sl4s9774, making a total of $l7lll5o3 IRON WHICH
are to be deducted rentals Of the paid branch
interest on equipment interest on bonded deD state Tax
ON dividends and other items, 6,926,O24 leaving the
net income Of the Pennsylvania Railroad di-
vision SlO,185,529 On the line from fhiF
adclphia to New-York, and branches, the earnings
were Sl4 100 837 the expenses, SlO,749oA; the hc'
earnings, $3960,O43: interest from Investment
1852 l7s; total, Si31222l; payments on account Oh
dividends interest equipment and other Items
81 oo5 757: making net loss in operating this line,
s593536 on the Philadelphia and L 10 Railroad divi-
sion the earnings were S3,660l4G; the expenses
81 2O2, ,O66 and the net earnings Sl'4os,o9o; from
which deduct the interest charged for the use OF equip
ment $780, sol; making the net earnings $l2ol-'o'
The summary shows the income Of the Pennsylvania
Railroad division to DO $101S5,529. from which Is de
Quoted the loss on the NewJersey division So93o3o
leaving balance OF 50 59l 1898, out Of which the fol-
lowing payments were made;
To the fund the purchase OF securities unuer tio
created October o. 1873, $ooOooo ior ,p Pho
chase OF consolidated mort bonds redecned ny tue
sinking fund $277 AGO for deficiency III iheeuhB ts
interest the guaranteed bonds OF the Aegneny
lev R,iroad Company Sj0S, ,2O for deficiency ln meet
ing the interest the Frederick anu fennsy ~,
TO- the credit Of The Income account Ss.6Ol. divi-
drnd of per cent $4,000 amount Fasieiou .Je 1
the latter sum has been deducted the 9aia,So NC
Ia settlement OF sundry accounts acco1nbdb oo, anu nco
amount charged for depreciation, Sl,O-ooJl oasno0
10 the credit OF profit and loss Tor lsot' 49, ~
73i which added to the amount to the cre Oh ta' , Iv
count December 81, 1888 makes the balance " eno
credit OF that account ON December o. io'''
$I4,o32,9lt . a,o q mar
value of 81 O5s $40 and stand on The books at COS.
Of 500 sG6,5i0 The income derived therefrom was
SaJG374 which with Sl2G.473 derived iroh lhe gcn-
rrl interest account made Si0s2sl7, whlch was
>739iO in excess OF the Interest upon me entIe lvu
Indebtedness. exclusive OF interest Oh 0r iru''
There was expended on capital account in ls3i
DccemDer 81, lssi. amounted to : 5,l91uDo A..
On the lines west Of r't1Snrs GnMn,uy thCiG Gi,
rtctly showed n net loss OF T1l4,6sl; thoSe
operated oy the Pitt,burg, Cincinnati and ~ LOUIS
hallway Company showed "a net loss OF u IJJ anu
the other lines west Ot PttsbnrS worked through tne
own Individual OrganlIaihns showed het loss %,
was either directly indirectly responsible 80 tlat e
net loss all lines west OF PltsDurS Ior 1881 ""'
The gross earnings from traffic all tho lines east ana
west oi PIT burg IN ls9i we're y ~ a.
Of -, ,Su3.Gj compared Win l-S3 lne stosS % cN
pcnst- were S6l.43i3l7 decrensc ot Sii9-'Ioo al
compared with 1883 The net earnings there lore ,hoWc
decrease OF SJ3AO9ls in 1854 compared with lSS3.
Ia, amount expended Oh capital account Oh Wv
Tr, OF PM burg I'm l-el O32,9O7 Tho securities
IN the crcaled October y, l9'7 amount Nv & I' ~
Sii2J 40. yielding an income exceeding S'VV'V'O P'
| Auutm. t...,,o ot
The directors express the opinion that te hcpn9p W :,
the fund rs II stands should contin lc u De au
the principal. aud the monthly appropriation Oh ~
be- reduced amount equal To one per cchtu o -. ~
n,i income OF the company before the payment Oh III,
dl,tdrnd to the shareholders. ON the basis OF tho o
income for past year tho appropriation 10 e
would A. we been about $4,000 instead oI SboooOV
Tor, sugrcton Is fayoraby received 10y tue
IL 1, recommended that the Incoming board be .stluC
To give at least ninety days notice oi the iahns VI
| stock vote tho approval or nisaPp,o,,1a p,,1 - -
| Of tho proposed modification. Inc tePoIt go,
| tba. the directors share the opinion Win o',ie r
large transportation interests OF the country .nat w.
further mA ntrnance of the present pooling ~ u &
existing arrangements can hardly De produ,t'co VI eV
| ,ttLer 10 the public or TO the railway interests