The Providence news. (Providence [R.I.]) 1891-1906, 1893-03-02
ABOUT READING AFFAIRS
A Glance Into the Hole the Big Com
bine is Now In.
DEFICIT ON JANUARY BUSINESS
Receivers Order the Company's Treasurer
To Settle the Lshigh valleys Fixed
Charges-said That Mcleod Has Other
Big Bills to Settle With 1t.

PHILADELPHIA, March "A further
complication in Readings affairs has de-
veloped in suit brought by Alfred Sully
and A. B. Randall of New York and John
Lowrie, holding first and second prefer
ence income bonds of the Reading to the
amount of $797. .000 who were granted
permission by Judge Dallas to intervene
in the pending suit for foreclosure
brought by Thomas G.. Platt.
The complainants want their interest
for 1892 and 1898, but refuse to surrender
the certificates OF the company's priorin-
debtedness, which is one of the stipula-
tions set forth on the coupons attached to
the bonds.
The statement OF the Reading Railroad
for January shows: Gross traffic re-
ceipts, 81 sos, 7s0: traffic expenses, ST. 1873, =
020; profit on operating, 1922, 759; re-
cepts from other sources. So, ,567, leaving
profit for the month, s3S0,227 Against
this was charged S.O,O62 for permanent
improvements and $3.50, 900 as one-twelfth
of the current years fixed charges, thus
showing a deficit for the month Of
$3.50 734
The statement OF the Reading Coal and
Iron Company, for January shows gross
receipts. s5,3l9. .ll3; gross expenses. S.
427. $50; dncluding operating expenses,
and expenditures for permanent improve
ments, 81, G62), thus showing loss for
the month from mining Of sl0S,5T7. To
this should be added $6s, 900, one-twelfth
Of the current years fixed charges. leav-
ing total deficit for the month of sl76,-
511. For the first two months OF the cur
rent fiscal year the deficit Is Sl45 27f. For
the same period Of 1892 there WAS deficit
Of $4D,4l4
Tne business of the Lehigh Valley and
Lehigh and Wilkesbarre department is
included in the above statement for the
year 1898.
TIE Lehign Valley Railroad for Decem-
Der, 1892 SHOWS receipts. 81, go, 554; ex-
penscs, 81 I'LL .0sl. leaving earnings for the
month, S5S9, 472, an increase o. SIS, SAL.
The receivers OF the Philadelphia and
Reading Railroad yesterday authorized
the treasurer of the company To pay the
rental due the LehiGh Valley railroad to
date under the terms of the lease.
Up to late last night the Reading OFF,
cials had not sent the check for the
amount OF the interest to the Lehigh
Valley. Whether or not they intend do
ing SO remains to be seen, but as tue
matter now stands there has been n tech
nical default on the part of the Reading.
The receivers had nothing 10 say today
upon this or any other subject.
1t does not appear by what magic or
jugglery the Lehigh Valley interest can
be paid in the present depleted condition
of the Readings treasury. The Lehigh
Valley has already seat cut checks on its
own bank Tor the payment of the inter
est due on March J. being s210, QUO on the
100000 second mortgage Der cent
bonds.
HARRISBURG, Pa. March 2.-In the
Senate yesterday Mr.. Henninger intro
duced a bill prohibiting the consolidation,
laaeipu nr coprrollinu Of naralIal N conn
peting lines Of railroads or canals aud OF
common carriers engaged IN mining or
manufacturing enterprises, aud provid-
ing for violation thereof a fine not eX
ceeding 81 900 and Imprisonment not ex-
ceeding one year.