The Washington critic., 1888-03-06


tension of the line to the MahanOy coal
basin, and the completion of unfinished
work on the line TO Pottsville on the
Tyrone and Clearfield Railway, for the
extension of branches for the further de-
velopment of that btuminous coal dis
trict. The aggregate of the sums SOCK
pended was 1921 ,s6702, Of which $780,
1888 was provided in cash by branch
and auxiliary lines. The wisdom of such
expenditures is shown by the large in
crease of tonnage that has been secured TO
your system, and the direct revenue re.
Ceiyed from the investments in such lines.
Authority was given to your Company
toward the end of the year by the Board
of Public Works Of Jersey City to elevate
the tracks approaching the New York
terminus. Should the business Of the
present year be of such n character as to
warrant so large an expenditure, this
work will be commenced.
The great danger to life attending the
running of trains through thictly.popu-
lated sections is each year increased
through the establishment of new grade
crossings. With the view of regulating
the further opening Of streets across rail-
roads and the construction of railroads
across streets, at grade, an act. was passed
by the Legislature of Pennsylvania at its
last session which failed, however, to re.
ceived the approval of the Governor of
the Commonwealth. The Company has
endeavored to meet the different munich
pal authorities Of the various towns
through which its lines pass, in the most
liberal spirit, so as to avoid such cross
ings. In the city of Harrisburg, in con-
nection with the building of the new pas
senger station and the change of your
line, a marked improvement has been
made in this direction, which, although
attended with large expense to the Com
pany, seemed to be justified by the direct
advantages, not only to the public, but to
your interests.
The Alexandria and Washington Rail
road, five miles in length, connecting the
Baltimore and Potomac Railroad with
the Alexandria and Fredericksburg Rail
way, was purchased during the year at
judicial sale, under proceedings instituted
by the City of Washington. Under its re-
organization your Company became the
owner of all its securities.
AS indicated in previous portion of
the report, the loss sustained on your New
Jersey system was largely due to the cost
Of operating the branch lines in that
State, and to the high rates of interest
| upon their outstanding obligations. For
this reason your Company availed itself
of the option, under the contract made by
| the United New Jersey Railroad and
| Canal Company with the Pemberton and
| Hightstown Railroad Company to pur-
| chase at par the guaranteed stock and
bonds of that road which bore interest
respectively at six and seven per cent,
| amounting to the sum of 1902, $50, of
which the greater portion has already
| been surrendered to your Company.
The employees Relief Fund, established
| February 1st, 1886, has more than fulfilled
the expectations Of your management, in
| the benefits enuring therefrom TO such
ofthe employees and their families as have
availed themselves of the opportunity
thus afforded for reliefin cases Of sickness,
accident, and death. Your Company and
| affiliated lines contributed during the
| year S56, .3S for operating expenses,
and in addition thereto the sum of 81 ).
942.40 for extra benefits to members fthe
fund whose disability had continued over
hfty.two weeks, and who were, therefore
| no longer entitled to relief therefrom
| The amount contributed by your EN-
| ployes was S341, 1915, the receipts from
interest were $5,764.56, and the contrib.
utions by the companies S5s,6i3.7s, MAX
q total S405,60O.00, which, added to the
| balance on hand at the beginning of the
year. amounted to S5l54 407.12. Out OF
this fund there was paid to the families OF
employees in death benefits, and for sick.
ness and accidents, the sum of S264, COS. .7S
| and for expenses, $56, 70l .3S, leaving q
balance of S192, 157 So. After deductinl
| therefrom the amount of outstanding un
adjusted claims, and setting aside proper
reserve fund to meet liabilities growing
out Of the increasing age of the members
| there remained net surplus OF Sill,
1886. There were is, 744 members of the
fund at the close of the year.
With the. view of enabling your EN-
| ployes to safely and conveniently deposit
such portion of their earnings as they
might desire to accumulate, your Com
pany established, on January l, 1885, al
Employees Saving Fund, assuming the re
| sponsibility of the safe custody and repay
| ment, with reasonable interest, of tn,
moneys so deposited. This fund is now
| in successful operation, and will, nC
doubt, like the Relief Fund, be of value
ior the purpose indicated.
| Sufficient time has hardly elapsed to de
termlne what will be the effect of the In
ter-State Commerce law upon the trans
portation interests. The policy indicated
by the law differs so widely from tha
heretofore prevailing, that many Difficult
| ties have arisen in endeavoring to con
form the business of the country to its re
| quirements; and in consequence thereo
there has not been probably that rigid OBJ
seryance of its provisions which was NJ
doubt intended. Further Legislation
seems to be necessary, as it is apparent
that manifest injury is being done to th,
| railways of the United States, by permit
ting the Canadian roads to participate il
the carrying trade of this country, with
out the ability, under the law referred to
to enforce their observance of its pro
visions
In November last, Mr. d. b. Cummins
| who had been director of your company
since March, 1878, compelled by the
pressure of other business, presented hi
resignation as a member of your Board
which his colleagues, mindful Of his ex
cellent Judgment and devotion to the in
terests of the Company, accepted will
great regret. Mr.. b. b. Comegys, Presi
dent of the Philadelphia National Bank
was elected to fill the vacancy thu
caused.
The Board acknowledge with pleasur
the fidelity and efficiency with which tn,
officers and employees of the Compan!
have discharged the duties entrusted t,
| them during the past year.
! By order Of the Board,