The evening herald. [volume] (Shenandoah, Pa.) 1891-1966, 1892-01-23
WHY THEY CHEERED.
The Reading Railroads Splendid
Showing for 1891.

OnOWllR lOI IO91s
Corporation meetings are not usually
demonstrative. On the contrary, as rule
such gatherings are characterized by cold
blooded and business-like ieticence. 1t
must. therefore, have been peculiarly graft
flying to President Mcleod, of the Reading
Railroad, when, at the annual meeting of
that corporation the other day, the stock
holders applauded the unexpected ly favor
able retort of his administration of their
great property during the past year.
The results accomplished and the gains
achieved in every department of the Com
pany's business during year when other
railroads have barely succeeded in holding
cir own, have scarcely parallel in rail
way history, and constitute most emphatic
endorsement of the integrity ana ability OF
the roads present management,
As compared with 1890 the business of
the railroad itself for 1891 shows an increase
in net earnings of 81 $50 216.44, and an in
crease in profits of 81 $40 038.82, while the
Coal and Iron CImpany's operations ex
hibit an increase OF S633 1884 in net earn
Ings aud total gain over the previous
year of $640 42} 81, making total gain, for
the two comp tnies, of 81 150 462 40.
The net amount set aside as profits for
1891 is considerably more than double that
OF 1890. Out OF this there will be paid the
full interest. per cent, on the first prefer
ence income bonds, and AZ per cent. on the
second preferences. That the management
did not strain point to pay the full per
cent on the latter securities is evidence that
Mr. Mcleod will not descend to question
able methods in order to make good show
ing.
Many interesting facts are to be CLEANED
from the Presidents report. From it we
learn that the Reading Company is one ol
the greatest land owners in the Union, lis
vast estates, comprising coal, iron ore and
timber lands, aggregsting upwards of 1874
OO0 acres. The Company owns at least 6C
pc cent of all the anthracite coal remain
ing unmined in Pennsylvania. The Read
ing is also landlord on very large scale
owning 2, 764 dwelling houses, built upon
It's lands, and for the most part occupied by
miners and other employees.
To operate the mines there is employed I
oroe of "A 754 men and boys, and it will
surprise most people outside of the region
TO learn that of this number only 9,709 ar'
foreign born. 1900 horses and mules, Il
locomotives and 275 mine cars are in us'
underground TO move the coal from thu
cbamhers to the breakers. Among tn,
commodities used ut the mines annually
are 2 600 tons OF blasting powder, l4O ton
: Of dynamite, and for horse feed 10000
bushels OF grain and 6 200 tons of hay.
There are 16 1888 men on the railroad
roll these added to the army employed
about the collieres make total of Al 5S7
to whom were paid for wages during th
year SIS 237, 262 20. 1t may be estimate'
that fully 100000 persons depend directl,
tor support Upon the earnings Of the Read
ing employees For supplies of variou
kinds the Company disburses millions q
dollars annually, and the redistribution
these vast sums among the population i
general is suggestive of the interdepender
relations existing between this corporatio
and the communities in which it operat
Altogether, the report is most gratiiyinG
not alone to the holders of Reading secur
I ties, but also to the public at large, as den
4 onstrating the complete financial as we'll 1
t physical rehabilitation of a great and in
g portant property.