Evening star. [volume] (Washington, D.C.) 1854-1972, 1894-03-06
1884, s19.sO

Notwithstanding the severe depression which PIE
vailed In all branches of industry throughout the
country, and which was so largely rejected In the
the foregoing statements present quite a satisfac-
tory exhibit for the year, as, In addition to cash
cent in scrip convertible into stock, WAS paid ont
Of the profit and loss account and as large hal
ance left to its credit as at the close of the pre-
vious year. This done after expanding 81
16S 210 10 In strengthening lines. improving grades
and other extraordinary renewals and advancing to
the Allegheny Valley Railway the sum Of S242.9
toward meeting the interest upon It's bonds guar So
depression already referred to, 1t was unable to
provide out Of It's own revenues.
These results We're made possible only by the
conservative policy that has been pursued In the
management of your properties, and by the liberal
expenditure in renewals and improvements which
permits a rigid system of economy to be enforced
in times of great commercial depression. II can
only be by a continued adherence TO this policy
that your properties be preserved In strong ana
efficient condition. that your duties to the public
can be properly DISCHARGED and at the same Time
suitable returns s %Sas sS '1 FuSp
uLder the provisions Of The consohaateG mo, 81,
gage OF the company $50 wef s Sc. e, nrams
sinking fund for the redemption of the out
standing bonds secured by that mortgage. Nome
vas applicable could be purchased under the terms
of the trust. and the amount was placed TO ths
terms OF the mortgage. There are $3.3S8,3Io.O9 In
bonds.
The trustees of the sinking fund for the redemp-
ton Of the trust certificates issued for the pur-
Philadelphia. wilmington and Baltimore Railroad
Company purchased $l2l 900 of these certificates
chased and cancelled to Decen,ber 81, 1893, 10
s22l2, 900, leaving outstanding 81; 600.
The trustees OF the sinking fund for the redemp-
tion of the cola eral trust loan not able to
obtain any of these securities DURING the year az
tits loan outstanding December 81, 1898. is
s9,9OOOOO.
Under the provisions Of the 4 per cent equip
gold loan, there paid to the truS-
tees during 1893 for the sinking fund the sum OF
$4,000 of the bonds at the price fixed in the
lease, and in accordance with the terms thereof
the balance, sl27 4l2so, has been invested in ad-
d!tonal equipment.
There are. now in the sinking fund, for the re-
panies forming the United New Jersey Railroad
ard Canal Company, securities Of the Lar value Of
and sh by the
FUNDED DEBT
In order to provide portion Of the capital
needed for construction and equipment purposes,
your board authorized an issue of $4,000, 600 Of :
fifty years from May l. 1893 of which only s., go.
600 were sold during the year. For the purpose
ests in piers g. 4 and on the North river, New
York your company also created $1,000 600 Of real
estate bonds bearing per cent interest, and ma
turing in thirty years from May l. 1893. and have
disposed of s1675: 600 Of these securities
on real estate and ground rents, at the close Of
ne year was $50 400 $50 IS. being an increase Of
$4.97s.S1350. accounted for as follows:
Increase in consolidated mortgage
bonds ...................... $1,000 600 NO
Real estate bonds .,.............. 1,675O 600 90
Increase in mortgages and ground
rents mathematician. 434, s13. 81
Total .....................$ IS. 100. 913 50
LESS amount OF equip
ment trust gold bonds
redeemed .......... $4,000. 90
Less amount Of Phila-
delphia, Wilmington
and Baltimore Railroad
stock trust certificates
redeemed .......... l2l,OOO.OO
lslooo. 10