The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1888-03-08
AFFAIRs OF TIE RAILWAYS.
Apoanfs of Interest An PreAidens Roberts's Re

Aroanfs Of Interest An PresidenE Roberts, Re-
port
President Roberfs's annual report Of the BUSH
ness Of the Pennsylvania lines for the year
1887 presents several features OF interest. IL
presents totals which are not rivalsd by any
other organization in this country. except the
United States government. With gross earn
3ngs on the entire system OF $I15s5l5,5O6. ex-
penses Of ST., 23s. 062, aud net earnings OF sSo'
277, 423, it is plain that this corporation deals
with and disposes of revenues which some KING
doms might envy. Readers of the Journal
however, are NEST interested ia the operations
of their Western lines, concerning
which President Roberts says; Inc
lines comprising the Western system
show a marked improvement over the Dre rec o.
ing year. there being a profit OF Sl.Zfo, 4oS-4 ~
over and above all Liabilities as compared with
SOS, 1877 % In 1886. The freight tratnc SHOWS
an increase of g. 998, Og5 tons, and the passenger
travel an increase of 1,146.Ol3 In the number
carried. Large expenditures were mace In the
purchase of additional real estate at terminal
points In the renewal of bridges and consfruc-
zion OF branches, double track and sidings-
The condition of the track and equipment was
fully maintained The amount expended DUR
ing The year on capital account on the lines
west of Pittsburg was 81, COS. oO4 &C. There
were built ~ Altoona, and other shops east of
Pittsburg and Erie. for the main line and other
roads in interest, on capital and repair account
I24 locomotives, 156 passenger cars, IL baggage
and mail cara. 2, 500 freight cars and $50 cabin
and maintenance OF way cars. The aggregate
amount Of steel rails used IN construction and
repairs in 1887 on all lines owned, controlled or
operated by the company east and west of Pitts
says that the employees relief fund. ee-
xabshed Feb. i, 1885, has more than
fulfilled the expectations OF the management.
The company and affiliated lines contributed
during the year 500, 701. SO for operating ex-
penses, and in addition thereto the sum OF ST.
942. 40 for extra benefits TO members OF the fund
whose disability had continued over fifty two
weeks and who were, Iherefore, longer
titled to relief therefrom. The amount
trIbuted by employees was $341 LIS, the
ceipts from interest were S. 764 56, and the con-
tr1butions by the companies, $58, 643. 81, making
q total of S405 COG. %, which. added the bal
ance on hand at the beginning of the year,
paid 70 the families of employees, in death bene-
fits and for sickness and accidents,
the sum of 1854, 605.78. and for ex-
penses. $50, 7O1.3S. leaving balance of
1892, 1876. After dedncting therefrom the
amount Of outstanding unadiusted claims. and
setting aside proper reserve fund to meet LA
bllities growing ont of the Increasing age OF the
mem bers. there remained a net surplus OF SILL
913 SO. There were H. IA members of the fund
at the close of the year. In the report two
points suggest themselves. First, the effect of
the interstate-commerce law, in connection with
which there were SO many gloomy predictions
which have not been realized. The increase in
gross earnings over those of the previous year is
shown TO be Sl3, DOC, 600. and OF net earnings 3d.
BOO, 000-the former H. the latter about 10 per
cent increase. Second, it is shown that
not only has traffic increased, but that
better rates scored than in
the previous year. Regarding the inter-
state commerce law, President Roberts says:
Sufficient time has hardly ELAPSED to determine
what will be the effect OF the interstate
mercs law upon the transportation interests.
The policy indicated by the law differs widely
from that heretofore prevailing that many diff
eultes have arisen in endeavoring to conform
the business of the country to its requirements;
and in consequence thereof there has not been
that rigid observance of it's provisions
which doubt intended. Further egisla-
ton seems to be necessary. as it is apparent
that manifest injury il being done to the rail-
ways OF the United States by permitting the
Canadian roads 10 participate in the carrying
trade Of this country without the ability, under
the law referred to, to enforce their observance
OF it's provisions"