Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-03-04
GENERAL REMARKS.

There has been appropriated to the mana
gers of the trust created October 10, 1878, to
December 81, 1889, the sum Of s., 97s, ,261 Al,
which, with the income therefrom OF 81, ,678,
213 SO, has been invested in securities
amounting at par to Sc, 500, $50, yielding an
interest Of 6 74-100 per cent for the year.
There was appropriated to that trust for the
year 1889 the sum of S87. .433 As.
The assets of the insurance fund on band
at the end of the year, were 81, 1856 al so,
being an increase over the previous year Of
$213, ,329 SO.
Your main line between New York and
Pittsburg, as we'll as the lines under the
charge OF the Pennsylvania Company west
OF Pittsburg, generally present very graft
flying increase in both their freight and pas
senger traffic. The volume of traffic has now
become so great that the question Of pro-
ylding capital to supply adequate facilities
therefor, and properly serve the communi-
ties dependent on your system by the con-
struction of branch and auxiliary lines. is
one of the most important matters that
claims the consideration OF your board.
The average annual expenditure for the
past few years upon your lines for such pur-
poses may be approximately estimated at
$10, ,000 900, and with a continuance of the
present industrial development of the coun-
Wy, tHis OuLlay WALL uo uOuDL Increase In
the future.
The securities that are held in your treas
ury can, to some extent, from time to time,
be made available, but as they must gen.
orally be held for the purpose of properly
protecting the interests OF the lines forming
your system, it therefore becomes necessary
to gradually increase both your share capi-
tai and funded Indebtedness.
During the past year there was expended
upon the main line between New York and
Pittsburg the sum of s., 822, 900 81, the prin-
cipal items of which were for additional
third and fourth tracks, yard facilities,
equipment and real estate, the latter Item
being the largest, and including extensive
purchases of property in the city of Phila-
delphia and at other important points on
the line. About the same amount will be
required during the current year.
The new locomotive shops at Altoona
have so far progressed that they will be
ready for service by the middle Of the year.
Large expenditures were also made at
Walls, about Is miles east Of Pittsburg, in
carrying out the policy indicated in the last
annual report, of establishing yard for the
transfer Of traffic between your main line
and your western system, and for the gen.
eral repair of cars. These improvements,
together with the new bridge over the Ohio
river, at Pittsburg, will be ready for service
before the close of the present year.
There was also expended in the construc-
ton and extension OF branch and auxiliary
lines the sum of 81, 476, ,499 Of of which S742,-
SOB Ia was reimbursed to your company in
cash. These expenditures were mainly upon
the connecting railway, for the purpose of
avoiding grade crossings Of streets in the
city of Philadelphia; upon the Pittsburg,
Virginia and Charleston Railway, in ac-
4uiring additional real estate and providing
double track; on the South West Pennsyl- |
Vania Railway and in the Clearfeld coal
region in the extension of branches; and on
The Pennsylvania Schuylkill Valley, Rail- |
-oad in extending the double track and add
ing to its facilities. ALL of these outlays |
have benefited your main line by develop |
ns the territory tributary thereto, and thus |
Increasing its traffic.
An opportunity having offered during the |
rear to purchase, at favorable price, a |
arge tract OF water front on New York Bay,
south OF Communipaw, it was deemed ad-