The Columbian. [volume] (Bloomsburg, Pa.) 1866-1910, 1892-01-29
Why Readings Stockholders Ohocrod.
THE. ROADS SPLENDID SHOWING FOR
LAST YEAR.

Corporation meetings are not usu-
ally demonstrative. On the contrary
as a rule, such gatherings are charac.
terized by cold -blooded and business.
like reticence. 1t must therefore,
have been peculiarly gratifying to
President Mcleod, of the Reading
Railroad, when, at the annual meet
ing of that corporation the other day,
the stockholders applauded the un.
expected favorable report of his ad.
minstration of their great property
during the past year.
The results accomplished and the
gains achieved in every department Of
the Company's business during year
when other railroads have barely sue
ceeded IN holding their own, have
scarcely parallel in railway history,
and constitute most emphatic en-
dorsement of the integrity and ability
of the roads present management.
AS compared with 1890, the bust
ness of the railroad itself for 1891
shows an increase in net earnings of
81 900, o,2I6.44, and an increase in
profits of $r,5Io,o3S.Sa, while the Coal
and Iron Company's operations ex-
hibt an increase of $63S,SaS.o4 in
net earnings, and total gain over
the previous year Of $64o,4a3,67, max
ing a total gain, for the two compa-
MES, Of $s,I5o 46a,4o.
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, 5
per cent, on the first preference in.
come bonds, and Il per cent. on the
second preferences. That the man
agement did not strain point to pay
the full FIVE per cent. on the latter Sc
curities is evidence that Mr.. Mcleod
will not descend to questionable meth
DDS on order to make good showing.
Many interesting facts are to be
cleaned from the Presidents report.
From it we learn that the Reading
Railroad Company is one of the
greatest land owners in the Union. its
vast estates, comprising coal, iron ore
and timber lands, aggregating up
wards of 100000 acres. The Com
pany owns at least SO per cent. of all
the anthracite coal remaining un-
mined in Pennsylvania. The Reading
is also landlord on a very large scale,
owning 2746 dwelling houses, built up
on its lands, and for the most part oc-
cupied by miners and other employees.
TO operate the mines there is en-
ployed a force of a4,754 men and
boys and it will surprise most people
outside Of the region to learn that
of this number only o7o9 are foreign
born. 26oo horses and mules, IS
locomotives and 1872 mine cars are
in use underground to move the coal
from the chambers to the breakers.
Among the commodities used at the
mines annually are 1000 tons of blast
ing powder, I4o tons of dynamite,
and for horse feed $50, 900 bushels of
grain and 62oo tons Of hay.
There are 1878 men on the rail
roads rolls; these added to the army
employed about the colleries make
total of 4I,5s7, to whom were paid
for wages during the year $I,a37,26a.-
10. 1t may be estimated that fully
100000 persons depend directly for
support upon the earnings of the Read
ings employees. For supplies of va
rious kinds the Company disburses
millions of dollars annually, and the
re distribution of these vast sums
among the population in general is
suggestive of the interdependent rela-
tions existing between this corporation
and the communities in which it oper-
ates.
Altogether tie report is most graft.
flying, not only to the holders of Reading
securities, but also to the public at
large, as demonstrating the complete
financial as well as physical lehabili-
tation Of great and import ant prop
erty.