New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-03-07

B,lancc 10 credit Of profit and loss Deem
Jcr 3i,'. 1892 '-"'o' '' "
From, the foregoing sta,"monrs II Will b. seen tha'
chile there material incnav' In the gfoe. revenues
u Company. there greater increase IN ,h N
,rens.s and N. further dinin'sh"i by
the fact that the tax levied upon your 'apai 'o" .,
,n ,weo,,h Of PENNSYLVANIA almost doubled
#, The tas, year Notwithstanding this reduction IN he
,., ,.,erues ,r. Comuanv able continue the I'm
proyemcnt q lines and. after paving dividend OF
slx er cent carry the credit OF proht anu iosS A.
count the sum OF -. ~ o26i2.
The statements contained in the report show That WINE
,he p.rcentagc u operating expenses nceas"i e
WAS due not the cost Of moving thr uame' oit 10
IA. fact that the rates prevailing during th" year i''-
,c- oulnr 70 the severe competition among the trans
,or,on lines 81 country. materially lower than thoSe
h, ,r,e IN lscl With proper compensation Tor the
uoycnent OF the ,rane the volume offered would have
made the wear 1892 one OF great prosperity 70 'e en' r.
railway sy-ten
SINKING FINDS.
,,sc- tho proyl-lons consolidated mor'gage Of
u ,ounanv ss,i 7s0 apart the ar't day ~
, i,., ont OF the net Income sinking fund for Tho
dcmutio Il the outstanding bonds secured hy that mort
ace Mons Of bonds could h. purchased und'r inc
term. Of Trust. and thu amount was rlaeed 10 me
.d, ~ IN. tru tees investment under III, terms OF
,h r,,,ta,pe There are $3.50. 81 In cash am
.ecur., In the fund the redemption Of these bonds
The trustees Of the sinking fund for the redemption OF
tho Tr,s certificates Issued for rurcnc OF the shares
of
u.,vo,. peil,oad Company able IN purchase
any OF these securities during III" past year az par inc
limit nxid Trust agreement The total aho'" OF
ibe., certificates purchased and cancelled TO December
3.t 1892 4. ~ leaving outstanding s'oOoCOo
The trustee. the sinking fund for the redemption OF the
collateral trust loan also unable to obtain any OF
thc.e during the year at he limit Ned !" .c
agreement. The amount Of this loan outstanding u IT,
cemhcr 3ist 1892. Is 80 800, 900.
rnirr tho provisions OF the four per cent Equipment
rr,s, Gold Loan thcr' paid 10 the trustee during
ls., for sinking fund the sum OF ei3st,j The
trustee able To obtain but $4,000 OF the bonds AZ
the price nxcd lease and In accordance with the
t. rms Tn eof the balance so5.47j. together with s63S1
remaining from year. has been invested In additional
equipment.
There arc now the sinking fund for the redemption
II the obligations the various COMPANIES forming tho
United New Jersey Railroad Canal Company. seeuri
ties OF the par OF si6i COO and cash balance.
uninycstd by the trustees. OF siI oGs42. making All
Aggregate OF u, OJS. Nj5d2.
FUNDED DEBT
The funded debt, including mortgages real estate
and gr,ud rents Is ~ 5i7 72G3s Increase OF S427
800 90 during the year explained follows
Increase ~ and ground rents s470o9o 90
Loss amount u equipment trust gold bonds re-
deemed faooo W
No, ,ucreas. s427 500 90
CAPITAL STOCK.
OF tho year WAS si2J IA 100. the Increase icing but
e. 400 due conversion into carltal stock OF that
amount scrip issued of the dividend OF May
Goth. 1891.
SECURITIES.
During the year there WAS all increase in tho Of
securities sis II. making the entire cost Of the
securities Of other corporations now held by your Company
7Ol 25 The direct received therefrom
WAS 81 o2 1913 3d. which than per upon
their cost and about million OF dollars In excess
The ntcrcs. Oh your funded debt.
CAR TRUSTS mot included above statement Of funded
debp.
Further provision made during the year. under the
Car system, for the equipment OF lines, by tho
issue OF a. 900 Car Trust certificates bearing four
per cent Interest. Under this system $500 box cars
and 900 hopper gondolas added the equipment
of the Main Line. 500 long gcndolas furnished to the
Philadelphia Wilmington and Railroad and rs
box ears the Pennsylvania Company
During year the outstanding certificates Of Series
ID Of the Pennsylvania Car Trust have all been can
cclcd This series covered 900 long and 1000 hopper
gondoas service the Pcnnsylyan Railroad repre-
senting a cost OF sl.000.000.
The 81 g97 cars pac ~ your line, east and
leased 10 AFFILIATED lines through the system
Trusts repfc,c: $40, % 900 90
Total amount OF certs atcs redeemed December 3lst
In full payment for %. 1sl cars $l2 1897, COO 90
In partial payment for 5o,.l3
20, 3s7 900 90
D,ance Of certificates outstanding Dcccm-