National Republican., 1888-03-06

tracks on the Perth Amboy and Woodbridge
Railroad, for the completion of double track
on the Pittsburgh, Virginia aud Charleston
Railway, for the acquisition uf additional
real estate in South Pittsburgh, and additional
tracks; on the South West Pennsylvania Rail
way, Tor new branches and the construction
OF more direct connection with your Main
Line for westoound traffic: on the Western
Pennsylvania Railroad for second track and
Teouetion OF grades In carrying out the policy
heretofore Indicated OF making this line an
eficlent md economical route for the move
ment OF your through traffic: on the Pennsyl.
vania Schuylkill Valley Railroad, for the ex.
tension of the line to the Mahapoy coal basin,
and the completion of unfinished work on the
line to louisville; on the Tyrone and Clear.
teld Railway, for the extension of branches
LOT the further development of that bitumi.
so expended was s2,2ii ,s6f o., Of which $3.50.
l3S 43 was provided in cash by the branch and
auxiliary lines. The wisdom OF such expen-
ditures is shown BY the large increase OF tom
mage that has been secured to your system,
ana the direct revenue received from The in
vestments in such lines.
Authority was given to your Sompsny
toward the end of the year by the foard OF
Public Works Of Jersey City TO elevate the
tracks approaching the New York terminus.
should the business of the present year be of
expenditure. this work will be commenced.
The great danger TO life attending the run.
ming of trains through thickly- populated sec.
lions iseach year increased through the estab.
lishment of new grade crossings. With the
view of regulating the further opening Of
streets across railroads and the construction of
railroads across streets, at grade, an act was
parsed by the Legislature Of Pennsylvania at
It's last session which failed, however to re.
eeive the approval of the Governor of the
Commonwealth. The Company has en-
deavored 10 meet the different municipal au-
thorities of the various towns through which
It's lines pass, in the most liberal spirit so as TO
avoid such crossings. In the city OF Harris
burg, In connection with the building OF the
n hon a.NFx
III Q, Il marked improvement has been made
in this direction, which, although attended
large expense to the Company, seemed to
be justified by the direct advantages not only
to- the pubic. but to vour interests.
The Alexandria and Washington Railroad
five miles in length, connecting the Baltimore
and Potomac Railroad with the Alexandra
end Ere dericksburlh Railway, was purchased
during u year at judicial ,ale. nnder pro-
Gee dings Instituted by the City of Washing
ton. Under its reorganization your Company
became tic owner Of all its securities.
A. indicated IN previous oftion ni the re-
port, 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 int, rest upon Notwithstanding obliga.
tiors. For this reason your Company awaited
itself Of the option. under the contract made
Company with the P,m6erton and Ilighstown
Railrord Company TO purchase at par the
Guaranteed stock and bonds OF that road, which
bore interest respectively at six and 'evcn per
which the greater portion has already been
surrendered to your company.
=, The fmployes Relief Fund, established
February !, 1856, has more than fulfilled the
expectations OF Your management, in the
benefits Ell uIing therolrom tn such of the EN-.
plOyts and their families as have avalled
ih.mStlyts Of The Opportunity thus afforded
f,f relief IN cases OF sickness. accident aud
DEATH Your company and affiliated liues
contributed during the year sjG,70l3S for
oIsiaiing expsnses, and In addition thereto
the sum OF 81 ,N42 40 for extra benefits, to mem.
hers of the mrd whose disability had con.
tinucd over fny.two weeks, and who were,
the1eftre, no longer entitled 10 relief there
from. The amount contributed by your EN-
ployes was s3il ,l9l.75, the receipts from in
ierest were s5,764.h6, and the contributions by
the companies, .s5s,6i37S. making total OF
hard at The beginning Of the year amounted
TO S5l5, ,407.l2. Out of this iund there was paid
to the families Of employees in death benefits,
ard for sickness and accidents, tho sum OF
ing a balance of sl92, Isl SO. After dedncting
tbeiefrom the amount of outstanding unad-
justcd claims, and setting aside proper re-
serve fund TO meet liabilities growing ont of
the increasing age of the members, there re-
mained a net surplus of slll,9lS.a6 There
were 1874 members Of the fuhd at the close
Of the year.
With the view of enabling your employees to
safely and conveniently deposit such portion
of their earnings as they might desire to aocu-
mu,ate,, your Company established, on Jan.
81 VI.
suming the responsibility of the safe custody
and repayment with reasonable interest, OF
the moneys SO deposited. This fund is now
in successful operation, and will no doubt,
like the Relief Fund, be of value for the pur.
pose indicated.
Sufficient time has hardly elapsed 10 dc.
termine what " i'll be the effect OF the Inter-
state Commerce law upon the transportation
interests. The policy indicated by the law
differs 80 widely from that heretofore prevail
ing. that many difficulties have arisen in en-.
deavoriIg to conform the business OF the
county To Its requirements: and in cOnsc.
quence thereof there has not been probably
THAT rigid observance of lis provisions which
was no doubt intended Further legislation
sec ms to be necessary. ms 10 is apparent that
msnfe,t injury is being done TO the railways
OF The rnicd States, by permitting the Cana
disn roads 10 participate IN the carrying trade
of this country, without the ability, under the
law ieiertd to. 10 tnloiCe their observance of
its provisions.
In November last, Mr.. D. B. CummiuS who
bad been a director of your Company since
March. 1878, compelled by the pressure OF
other business, presented his resignation as
member OF your board, which his colleagues,
mirdful Of his excellent Judgment and de-
yotion to the Interests of the Company, ac-
cepted with great regret, Mr., y B Comcgys,
was elected to fill the vacancy thu, caused
Ire Board acknowledge with pleasure the
fidelity and efficiency W III which the OIL ierS
and employees ofihe Company have discharged
the duties entrusted to them during the past
year.
by order of the Board.
a. Il ROBERTS President