Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1889-03-04
GENERAL REMARKS.

There has been appropriated to the Mana
gers of the Trust created October 9th, 1878,
from the creation of the Trust to December
31st 1888, the sum Of $3,907, ,140 So, which,
with the income of So, ,243 $40 As, has been
invested in securities amounting at par to
$6, ,069, $50, yielding an interest of 86-100
per cent. for the year. There was ap-
propriated to that Trust for the year 1888
the sum of 81, 100 SO.
The assets of the Insurance Fund on hand
at the end of the year were s., 2,072, Ill 81,
being an increase over the previous year OF
$257, ,667 H..
1t is gratifying to note the increasing
traffic on your Main Line between New
York and Pittsburg, although large expen-
ditures were required to properly provide
therefor. The amount thus expended dur
ing the year was So, ,013, ,881 81, the principal
items of which were additional locomotives,
passenger and freight cars, the extension
of third and fourth tracks, and increased
facilities at terminal points.
In view of the probable increase Of
traffic, it will be necessary to continue this
policy during the coming year, and espe-
cially in increasing the facilities in Phila-
delphia and Jersey City, and providing for
the safer transportation of traffic through
the larger cities. It is confidently hoped
that within a short time your. New, York
Division will, like your Main Line, be en-
tirely relieved from grade crossings within
the city of Philadelphia. iet
There was also considerable amount ex-
pended in the extension of branch and aux
iliary lines, necessary for the proper devel-
opment of the traffic tributary to your
system. The principal expenditures upon
these lines were:-on the Pittsburg, Virginia
and Charleston Railway, in the purchase of
additional real estate, and construction of
double track, with the view of transferring
to that road portion of the traffic now pass
ing through Pittsburg, and thus relieving
both your Main Line and the streets of that
city from the annoyance and delay attend
ant thereon; on the South West Pennsylva-
MIA Railway, in the development and exten-
sion of branches, and the completion of a
new connection with your Main Line; on
tending the double track; on the Schuylkill
Valley, in the extension of tracks and settle
ments for right of way; and in the construc-
ton of the Cambria and Clearfeld Railroad
in the bituminous coal region. The aggre-
gate outlay therefor was 81 ,293, ,473 "a, on
account of which your Company has re-
ceived from those lines in cash S429, ,951 56.
It may be noted in this connection, that the
revenues of the Pennsylvania Schuylkill
Valley Road, built for the purpose of secur-
ing fair share of the local traffic of that
territory, were more than sufficient during
the past year to pay the interest on its entire
funded debt.
Among the new undertakings contem-
plated during the present year, are:-the
construction of bridge over the Ohio River
pose of further avoiding the very expensive
and dangerous transfer of the constantly in
creasing volume Of traffic through the cities
of Pittsburg and Allegheny, the cost of
which will probably amount in the aggre-
gate to 81, 500, ,000:-the providing of neces-
sary yards and transfer facilities at a point
about fourteen miles east of Pittsburg,
where the traffic to and from your western
lines will naturally be transferred from and
to the Main Line, the land for which was
purchased mal-y years since, and its i'm
provement commenced during the past year:
the change of grade as already noted
through some of the important cities on
your line to avoid the dangers of street
crossings:-and the erection of locomotive
shops at Altoona, to be devoted exclusively
to the building of new engines, the time
having arrived when the present shop facili-
ties at that point are inadequate to properly
care for the motive power and supply the
additional locomotives required by the in
creasing traffic, the outlay for which will
probably be $1,000,00O.
There was contributed to the EMPLOYEES
Relief Fund, by your Company and affili-
ated lines during the year, $50, ,901 30 for
operating expenses, and in addition thereto
the sum of S8,137 80 for extra benefits to
members of the Fund whose disability had
continued over fifty-two weeks, and who
were, therefore, no longer entitled to regular
benefits from the Fund. The amount con
tributed by your employees was S341, 500 O3,
and the receipts from interest were s., 739 "a,
which, with the contributions by the COM
panies, as stated above, S64, ,039 80, made a
total of $414, ,398 81. This added to the bal
ance on hand at the beginning of the wear,
$192,157 56, aggregated S606, ,556 49,. Out Of
this fund there was paid to the families of
employees in death benefits and for sickness
and accidents, the sum OF $283, 512 10, hnd
for expenses, $55, ,901 90, leaving a balance
of S267, ,142 30. After deducting there&om
the amount of outstanding unadjusted
claims, and setting aside proper reserve
fund to meet liabilities growing out Of the
increasing age of the members, there re-
mained net surplus of S170,532 06. The
number Of persons receiving death benefits
was $50, making an average in each case of
$523 a. There were Is, ,332 members of the
Fund at the close of the year.
The Employees Saving Fund referred to
in the last annual report is now in succesN
full operation; and during the year, 1907 of
your employees availed themselves Of the
opportunity to become depositors therein
The amount of deposits received during the
year was S421, ,191, and the balance remain
ing at the close of the year was 1854, 800 66l |
Of this apount $780,, 900 have been invested