Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-03-03
GENERAL REMARKS.

GENERAL REMARKS.
There has been paid to the managers of the
trust created October 9. 1873, to December
81, 1890, the sum of 81 O65, ,694 Sc, which,
with the income thererom, of So, 1873, ,755 "A,
mas been invested in securities amounting at
par to ~ 7,125, ,05O, yielding an interest of
6.54 per cent for the year. There was ap-
propriated to that trust for the year 1890 the
sum of $9S, 49S II.
The assets of the Insurance Fund on hand
at sne end of the year were So, 525, 391 Oh,
5elng an increase over the previous year of
| S239, ,949 81.
There was contributed to the Employees
Relief Fund by your company and affiliated
lines during the year 500, 1873 Oh for oper-
ating expenses, and in addition thereto the
| sum OF SIG. .673 for extra benefits TO members
OF the fund whose disability had continued
| over 80 weeks, and who were, therefore, no
| longer entitled to regular benefits from the
| fund.. The amount contributed by the en-
| ployes was S44O, ,1O3 SO, and the receipts
| from interest were 81, 949 27, which, with
| the contributions by the companies, as
| stated above, $50, 511 Oh, made total of
SG31, 564 IL. This added to the balance on
hand at the beginning of the year, S149,-
l56 Sc, aggregating $3.50, ,720 81. Of this
amount there was paid to the families of
employees in death benefits, and fer sickness
and accidents, the sum OF S466, 294 IL, Tor
expenses S69, 1888 OIL, leaving a balance of
S144, 56S 65. After deducting thererom the
amount of outstanding unadjusted claims,
there remained a net balance OF S22, 104 SO.
The number of persons receiving death ben
etts was 341, making an average in each
case of $500 %. There were q, 984 members
OF the fund ut the close of the year.
The Employees Saving Fund continues to
show its value to your employees, in afford.
ing them safe depository for a portion Of
their earnings. The number of depositors
has increased during the year from 2, 130 to
1885, the amount OF deposits received dur
ing 1890 was S344, 1872 and the balance at the
close of the year was 1914, 066 Oh. OF this
amount 100000 have been securely in
vested in per cent bonds.
During the past year there was expended
upon the main line between New York and
Pittsburg the sum of $4,793, ,720 %, the
principal items of which were as follows:
Additional yard facilities at Harrisburg,
Altoona and Wallis; freight car repair
shops and transfer stations at the latter
point; the elevation of the tracks and pas
senger station at Jersey City. and the pur-
chase of additional locomotives, passenger
and freight cars and real estate.
The new locomotive shops at Altoona
equipped. They have been constructed
upon the most approved plans, and are fur
nished with the best modern machinery and |
tools. |
The elevation of the tracks in Jersey City |
has been vigorously prosecuted during the |
past year; this improvement will add |
largely to the comfort, convenience and |
safety. not only of the passenger travel, but
also of the residents of Jersey City.
There was also expended in the construc-
tion of branch and auxiliary lines the sum
of $5,717, ,9O7 SO, OF which amount S941,-
500 So were reimbursed to your company In
cash.
OF this amount, So, ,142 1923 "a were ex-
pended in the construction OF the Trenton
Cutoff, referred TO in the last annual report,
and which it is expected will be completed
during the present year. 1t is being built
in a most substantial manner, on low gradi-
ants, with special reference to the cheap and
expeditions movement of through traffic.
On account of the topography of the country,
and the cost of right of way, the line is ex-
ceptionally expensive; but it is believed
that the company will be fully compensated
by the economies that will be obtained in
The movement of traffic.
The other important items of expenditure
we're; The work upon the New York Bay
a line which is intended to reach
rapidly improving portion of Newark, and
1t the same time furnish an alternate line
or your freight trains through that city;
he construction of additional branches 10 |
he Southwest Pennsylvania Railway and
he Western Pennsylvania Railroad; the
providing of additional facilities on the
Schuylkill Valley Railroad,
he Philadelphia and Erie Railroad, and
he Pittsburg, Virginia and Charleston
Railway, and the construction of the Nc
Reesport and Bessemer Railroads. line
Intended to connect the Pittsburg, Virginia ,
md Charleston Railway with the manufac-
uring industries of MeKeesport, and neces- s
ltating the building OF bridge over the
honongahela river at that point. I
The amount expended for the above pur-
,oses on your lines east of Pttsburg and 6
erie was $9, SIC, ,005 04, which is about the I
um anticipated in the last report. 1t Is i
onfdently hoped that so large an outlay I
Gill not be required of your company dur Z
ng the present year; but at the same time r
our management are fully impressed with O
be necessity for liberal expenditures of e
apital in this direction, not only to provide | ]
he equipment, tracks, yards etc., necessary j
D properly care for the existing traffic, but b
D further develop the territory and secure o
, your lines traffic naturally tributary q
hereto. v
Line COLUMBIA and Fort Deposit Railroad, u
xtending from Columbia on your Phila- c
elphia Division to Port Deposit, Md, hav- v
lg been sold under foreclosure of its mort s.
age, March 4, 1890, new corporation was
rganized May %, 1890, under the name of +
ne Columbia and Port Deposit Railway g
company. by which that road is now t.
perated. The Downingtown and Lancaster il
,ailroad, referred to in the last annual re- a
ort, was completed and opened for traffic in v
he early fall. o
During the past year the principal lines "
'rming your southwestern system. to wit, n
le Pittsburg, Cincinnati and St. Louis Il
,ailway, Cincinnati and Richmond Rail-
'ad, Jacksonville, Madison and Indian s
polls Railroad, and the Chicago, st. Louis G
nd Pittsburg Railroad, were merged into Z
,mpany, under the name of the Pittsburg, t,
incinnatl, Chicago and st. Louis Railway tt
ompany. N
1t is believed that through such consoli- OIL
itlon q stronger financial basis has been S
cured upon which the capital needed for VI
e development of these properties can be d.
'tained, and through such unifcation of 81
n