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

visable to acquire the same and construct a
branch thereto from Newark, on your New
York division. 1t has front on the New
York Bay OF ], 250 feet, and runs b. ok for a
distance of mile and half, and will, it is
confidently believed, eof great value in the
future.
Arrangements have been made for the ex-
tension of the DowniDgtown and Lancaster
| Railroad to connection with your main
line near Lancaster, distance of ten miles,
thus forming an alternate route through the
| fine agricultural district between Lancaster
and DownIngtown.
The traffic now passing through your
yards at West Philadelphia, destined to
points east thereof has become so large as
to seriously interfere with the movement of
that destined to Philadelphia and adjacent
points. To avoid this, road has been
located and its construction commenced
from your main line near Downingtown to
the New York division near Trenton, dis
tance of 51 miles. A very favorable and
direct route has been secured through this
country on the same maximum grade as that
prevailing on your Philadelphia division.
Owing to the general typography of the
country, and the valuable property through
which the line passes, it will be expensive
in its character; but 1t is believed that the
tance and the avoidance of delays in the
overcrowded yards at West Philadelphia
will more than repay your company for the
outlay.
The Pennsylvania Canal, in which your
company is largely interested, both as a
shareholder and a guarantor of the interest
upon its bonds suffered serious damage
from the severe foods referred to in the
previous part of this report. MANY miles
of this canal were entirely destroyed, but as
they were the most unproductive portions
of the property the canal company deemed
it wiser to abandon the same than to burden
the remainder of the canal with the cost of
their renewal The funds advanced by the
Pennsylvania Railroad Company to repair
the more productive sections of the canal,
and TO purchase the coupons upon its bonds
in accordance with your Endorsement
thereon, amounted for the year to S1SS, $40.
As the valleys occupied by the canal are
now traversed by competing railways, which
carry the traffic at very low rates, its value
as q transportation line Is fast passing away;
so that the cost of its maintenance will in
all probability equal its revenue, leaving
the sum required for the interest on its Sc
curities to be advanced by your company
until the maturity of the bonds.
There was contributed to the employees
Eellel luuu ny gVuT compdny ana amllateu
lines during the year $50, ,O21 81 for operating
expenses, and in addition thereto the sum Of
S14, ,13S 78 for extra benefits to members of
the fund whose disability had continued
over 81 weeks, and who were, therefore, no
longer entitled to regular benefits from the
fund. The amount contributed by your
employees was S377, ,461 10, and the receipts
from interest were S4,771 96, which, with
the contributions by the companies, as
stated above, $40, 160 20, made total of
S452, 1893 A. This added to the balance on
hand at the beginning of the year, $751;
142 50, aggregated S7l9, ,535 81. Of this
amount there was paid to the families of
employees in death benefits, and for sickness
and accidents, the sum of S343, ,569 &c. for
expenses Soc, ,O21 81, and transferred to ''re-
lief fund surplus" account S170,78S "a,
leaving balance of Sl49, ,156 Sc. After
deducting theretrom the amount OF out
standing unadjusted claims, there renamed
a net balance, including reserve, for in
creasing ages of members, OF S57. $50 81. The
number Of persons receiving death benefits |