New-York tribune., 1890-01-18
financial.

Snd its syO the building ID d & f s%d S
VI yersal activity and progress which everywhere pre-
fss for for and % IN nG w the oude
woid and which IS characteristic OF the present period OF
and o6trustiye policy in matters Of such great t pub:
Inhabitants for the defendants themselves that
is road should be built contrary 70 law or otherwise
city Councils to exact such reasonable conditions as in
safety Of lives and properly ard P9Lo the interest; Of
,nG - nTas"1ahc npT uos9 m 9r or m IN
the defendant or to place Hnnccessay obstacles in the
R5Sp RS it, dt + m oGqd & S5 to Seey % HG law and ,g kGSS
to act in fab to dcfcndan and Keep also with
in the law and to execute the delegated to them
nv the eeislaurc in the spirit Of the statutes by which
Court SG o%paSy rcaSWd is sS s6pcson
mt S9 Grant Sqtn9y to 6 hG m sn g1td terminal n
granted this COMPANY has appcalcd from the decision Of
The clear and unioubtcd authority under Charter
powers viii be enabled ' TO- Furnish t6rsr crmna m far
tics which are 70 absolutely necessary TO the growth
the Reading COMPANY while the right is Conceded to
cacha n The eowh Of the CITY, d dminsh h It's business SIN S
and curtails its prosperity.
The gross receipts Of tho Coal Company
s17 ,S1s 225 81
The gross expenditures OF the Coal Com
pany sl7 966 075 GA
-
Deficiency in operating. s147,s4o 81
TO which add
Deficiency including fixed charges. 1914 373 10
The inability Of the Coal Company to the entire
amount OF its AeG cmargd Tor h, y'r must be- ato1td &
prevailed in 1889 a. In The previous year the earnings Of
The expenses Of mining coal owing to the want Of a
market fer ' Gc o tng were uee @ grcaic
could nave been operated greater number Of days in he
necessarily attend the operation Of the coieTcs must
BY reference the report Of General Manager Of the
DAYS Of the year for want Of arct FOR tRcr product
on account the noods A. before rcmsracd With mn
working time, the output would have been increased at
the Construction Of four coniercs and the re-
and charged to capai aacoumt fhcS, cxpcndires are
Of sucn character that when finished inc coicrcs WI,
thorough examination Of thc different colercs has been
dton than for many year, past.
details Of the operations are >ct forth that during inc
10 tho sinking Funds or thi amount sos 600 has been
the coal ropcrtcs Or Which s32s ooo lave been can
During the past wear tho Board of Directors Of The
Coel and Iron Company were compelled u suspend the
Pcpa''I bc % U5 W Sorcg t, ana Tocy
upon them the fact that mono Of the coal cnmpani'
similar statements. and the Information contained in the
competitors greatly our d,adyantaee II your manage
ment could obtain the benefit, derived from knowltdce
Of the business of competitors. which they haN .
hitherto obtained from the disclosure Of ours thc Board
would most ChcorfuY have continued tn" pr1rtc lh'
statements which were heretofore published wcr,
frequently mi~Judccd m the public. ana
necessarily failed 90 supply. except to those
most familiar with all the details Of thc business. any
information Of real value and the Board largely re-
conced TO this action rrom the Fact that IL has been
found be- impossible To distinguish nationally from
month 70 month between those disbursements which ar"
properly chargrabc to expense accounts and those which
may be lcctnatcy carried forward to capital accounts
This distinction only be mair accurately OF bv auy
reasonable approximation after the most careful surveys
md fort,s Iats IA. r1o ~ IA.
To make such surveys and inventories monthly. IN the
first place. would greatly delay the publication OF the
ports and would employ IA" "ho!" time o. almost the
engince force at tn" minc-. We appre lat"
the disappointment Of Of "crryholder, arising
from THIS Of policy. hut believe that when the
motives understood the action Will be approved bv
the most Of them.
In closing Report tho BOARD instructs thank
General Manager and hI- Heads ~ Departments for
cNcclcu: work tncY have SnN'ralN performed
tho well an employees FOR the lova and
faithful which they have l1hord IN the Interests
Of tho Company.
By order OF the Board o., Manaccrs. -
AUSTIN CORPIN.
President