National Republican., 1888-03-06
OEElcn nF TILE

Out OF which was paid divi.
dend OF 5la per cent.....,....,." 5,4lo,'ol 10
Leaving a balance Off,. ...,,.. S2,86j,OS6 81
Deduct amount charged oil in
settlement of sundry accounts. 3Sl,437 "a
Total amount transferred to
credit of profit and loss for the
yeor 1857. s7...........".,,,........ sl,OSs.59O II
Add amount to credit of profit
and loss December 81, $780," l5,625,3is 35
Balance to credit of profit
and loss December 81, 1887. Sl760S, ,9F 81
The preceding statements show large in
crease in the gross revenues OF your Company;
after deducting therefrom the operating eX-
losses on the United Railroads of New Jersey
Division, there remains q balance of $40, ,2l3.-
1885,. Deduciing from this sum the amounts
porii6ITN The extraordinary expenditures as
Gnargs S IN ths resSs u net
pared with &c. 02O, 800. 90 for 1886.
After making the proper debts and credits
credit Of that account for the year was 81, ,9s3,.
599.l7, making the total amount now standing
10 the credit Of profit and loss ST., sos, ,0i7.52.
entire 81 stem, and especially Of The lines west
OF Pittsburgh, during the SUMMER months,
arising from the unusual prosperity Of the
manufacturing industries of the country,
seemed to variant your Board In declaring
dividend Of three per cent. In November. max
ing f0r the year total dividend Of five and q
il viii be- noted that your our In investments @ en- sin in
the securities Of other companies, made from
time to time by your management for the
lines the traffic OF the Territory naturally trib.
utary thereto, amount to the sum of Sl0S, 709,-
lO5 Az and that the direct cash ~ revenue eve there.
funded debt.
The trafiic statements to be found In the
mt ri nj IN "A n nal
movement both of freight and passengers
but, notwil lhstanding the general prosperity
already referred to, the average rates obtained
The United Railroads Of New Jersey Divi'
sion continue to show a fair gain In the vol
ume Of both the freight and passenger busi.
stated in the annual report for 1886, the ex-
ceptional expenses connected with Its traffic
have prevented your Company from obtain.
note. however, that the deficit occurring ON
this division arises almost entirely from the
9 % Rarta @ GIsnSn no nes Ere ana ne 9l ine
ings OF the main line between Philadelphia
and New York were very, nearly sufficient to
provide for the entire dividends and fixed
charges upon that portion Of the system;
The Philadelphia ami Erie Railroad Division
shows an Improvement In both gross and net
earnings, and was able to provide not only
reasonable amount to the payment of obli-
cations heretofore given for advances made
Dy your tOupduy.
The loss to your company upon the United
Railroads OF New Jersey slightly exceeded
that of last year. The exceptional service re-
quired upon that division, in connection with
the expensive character OF Its terminals,
seems to preclude the possibility of operating
1t as economically as the other roads in your
system.
equipment, and real estate as follows
Pennsylvania Railroad and
brancheB..,.., .''''''.'.''.'''''' oS'ItOV 10
United Railroads of New Jersey" l,li6,67l IL
road ........',,''....... 2l7O96 81
#And for improvements and eN'
tensions on branch and auNili'
ary lines operated by the Com
pany .'..''''"''' '''''''''"''''" E'Sllieo' w
Total l.................,.,..,..... 80, ,2gO,3l5 IL
On account of these advances
there has been received from
some Of the companies in cash 6SO,l3S i3
Total amount expended on
capital account in lsS7...., s56l0,l7 so
This, amount was supplied by the issue OF
capital stock.
There were used on the Main Line in CON
siruction and REPAIRS 2S, ,l6S tons Of steel rails
and ,409,l6l ties; on the United Railroads OF
New Jersey 10000 tons of steel and $50, 1856 ties
on the Philadelphia and Erie Railroad, 1854
On account OF these advances to branch
and auxiliary lines there have been received
in securities of those Companies u ,l7s, s2O.sS,