The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1894-03-06
PENNsYs ANNUAL REPORT.
Net Earnings for the Year Over
Twenty-Five Million Dollars.

Net Earnings for the Year Over
Twenty-Five Million Dollars.
PHILADELPHIA, March 8, 1894.-The an
nual report of the board of directors of the
Pennsylvania Railroad Company for the
year 1898 was given out for publication to
day The report will be submitted to the
stockholders of the road at the annual meet
ing on March Is. The report in substance Is
as follows:
Gross earnings of the three grand di-
visions east of Pittsburg and Erie, EN-.
bracing the main line, united railroads OF
New Jersey and Philadelphia and Erie
road and branches, were $66, ,375, .o3
expenses, SAG, ,996, 017.2S, leaving the net
earnings $19, ,379, ,208.55. To this there is
added S6,036, ,941.07 for interest from invest
ments, rentals of real estate, equip
ment, ETC., making net earnings of $25, 49,
are made-Rentals leased and operated
roads, Sc, ,971 .695. "a; interest on funded debt,
S4, ,056, ,165 40; interest on car trusts, taxes,
etc, $1,271, ,S51 .03; total of SIS, ,299, 7120 on,
thus leaving the net income $40, 116, ,435 30.
From this amount the following de-
ductions are made:-Payments &C.
count of sinking and trust funds and
guaranty of interest on Allegheny Valley
railroad bonds, $641, ,609, ,70 extraordinary re-
newals, etc.. So 1865, ,210. 10; a total of s2,s04,
$3.50, leaving balance after above pay
medts of $7311 ,61575. From this is de-
Quoted the dividend of 5 per cent. paid
amounting to SO, 400, ,507. so, leaving amount
transferred to credit of profit and loss for
the year 1888, S911 ,10S.25. To this is added
81, $40. 1854 received in settlement
of sundry accounts, etc, making the amount
transferred to the credit of profit and loss
So, ,551, ISL So The previous amount to credit
was S26, ,461, ,S60.75, thus making a total OF
S29, ,013, ,642 81. From this is deducted 1885,
400 paid as scrip dividend of 2 per cent,
convertible into stock, leaving the final bal
ance to the credit of profit and loss on De
cember 81, 1898, S26, 47s, 1924.
The action of the board with regard to the
management of the sinking funds and the
funded debt of the road is referred and ex-
planned. The amount of the capital stock
outstanding at the close of the year is given
as S129, ,27l $50, an increase of So 1896 $50, due
to the conversion of that amount of the scrip
dividend declared in May, 1893.
During the year were additional securi-
ties purchased at a cost of 81, ,037, 704 A,
making the entire cost of the securities
now held by the company S118, ,6S6, 40S. 90
The total amount expended for construc-
tion and equipment during the year was
SO, 1854, ,331 49, The number of tons OF
freight moved on the three grand divisions
east of Pittsburg and Erie was 69, ,SS7, ,460, q
decrease of z. .026, ,S65 from 1892. The number
of passengers carried was "A, 135, 800, de
crease of $50 The total amount of coal
mined by the four coal companies, in which
the company is interested was 2,612, ,78S tons
an increase of 40, 372 tons over 1922.
There was decrease in the net earnings
of the mining companies of S276, 6,0S5.72, but
this was fully offset by the stock of coal on
hand at the end of the year.
On the lines directly operated west OF
Pittsburg the net profits were 81, ,925, ,012 01.
On the other lines west of Pittsburg which
the company operates, there was loss
of $49901. "a, thus leaving the total
net profit on all lines west of Pittsburg
81, ,875, 110.17. The number of tons of freight
moved on the lines west of Pittsburg was
SO, ,6S3, 11S, decrease of 4, 4,030, 759 from 1892.
The number of passengers was 1856, 422, a
decrease of 1888, ,433.
The net earnings of all lines east and west
of Pittsburg for the year were $50, SOS. .228. 10
There were 135, ,5l4, 1888 tons of freight moved
and IS, 152,0S9 passengers carried.