The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1894-06-06
PROFITS DECREASED
ANNUAL REPORT OF THE PENNsYL-
vANIA RAILWAY COMPANY.
Net Earnings In 1903 Not SO Large as
i'm the Previous Yenr-Why the
Alton Road Is Uneasy.


The annual meeting OF the stockholders
OF the Pennsylvania Company was held at
the general offices In Pittsburg yesterday.
The annual report for 1893 was submitted
and read by the secretary, S. b. Liggett.
There are over loo miles Of road operated
directly by the Pennsylvania Company.
The results in the Pennsylvania Company,
proprietary department, were as follows:
Total revenue, 81, s04, 500. Sc, out OF which was
paid, for expenses, interest on bonds, rent
ais, ETC.. S1,754.09.50, leaving a profit for the
year OF S1,O5O, 1866, out of which was paid
a dividend OF 4 per cent upon the capital
stock of the company. There was a de-
creased profit for the year of S179. 497.4S, as
compared with 1892. The results on the
principal lines operated by the company
were as follows: Pittsburg, Fort Wayne &
Chicago railway, a profit of 1913, NIP, an
Increase OF $23. $500, as compared with 1892;
Pfttsburg, Youngstown & Ashtabula, a de-
crease in net earnings OF $64, 227. so, as COM
pared with the previous year; Erie & Pitts
burg, as compared with 1892, a decreased
loss of SIS, 21S. 43; Cleveland & Pittsburg. a
loss OF So, 791.54, against a profit In 1892 Of
$40.41; Toledo, Walhonding Valley & Ohio
railroad, an increase OF $324 rs in net earn
ings. as compared with 1892; indianapolis &
Vincennes, as compared with 1892, an in
creased loss OF $9,139.S9.
Tn following persons were elected d.
%rectors for the ensuing year: G. B. Roberts.
idson, II. II. Houston, Frank Thomson.
Henry d. Welsh. John p. Green. William
ridge. Charles e. Pugh and George r.
Wood. The board will organize at a later
date.
VIII Build Solid Foundations.
{ Security holders of such roads as the
Louisville, Evansville G. st. Louis and the
Toledo, st. Louis & Kansas City are CIV
ing the organization Of the companies
much more attention than in times past,
and parties who inaugurate new reorgan-
lzation schemes viii not, in future, make
such fortunes out of the congratulations as
have been made In several cases the last
few years. On no road in this country OF
as was the Toledo, st. Louis & Kansas
City has SO much money been expended
Per mile, and after the company is reor-
ganlzed a large sum must be expended to
place 1t on the same basis physically as
are a majority of the roads crossing Indi-
ana. In the past there has been a dispo-
sition among security holders to make con-
cessions. but such a spirit is now con-
spicuouS by its absence, said q well-in-
formed fnancier and railroad man; and
neither Is there reason to believe that
for a long time to come the temper of
security holders will be other than at pres
are more insistent upon the fulfiiment of
their contracts to the letter than ever
before. Another stumbling block is the
uncertainty OF railroad earnings, whether
they have reached the minimum basis for
calculating profits in the future. He
thinks most of the insolvent roads will be
found In the hands or receivers longer
than has usually been the case.
Abandon the Grand Union Plan.
The representatives OF the various rail-
way brotherhoods who have been in ses-
- -.--- A. T. -
decided, It is stated, to entirely abandon
all plans for a complete union of the diff
ferent organizations. Instead, a fedora
ton OF the Order of Railway Conductors,
Brotherhood OF Locomotive Engineers,
Brotherhood Of Locomotive Firemen.
Brotherhood of Railway Trainmen, Order
Of Railway T-elegraphers and Switchmen's
Mutual Aid Association on each railroad in
me United States, Canada and Mexico has
been agreed on. Each body is to retain
it's individuality and be self-governing. In
case of trouble a general committee con-
sfSting of the general officers and chair
men of each organization is empowers to
meet and devise means for settling the
differences. In no case can the members
of a single organization strike without the
unanimous consent of all the other organ
~lzations. This is simply carrying out the
Ideas OF the more conservative members
Of the several organizations, and a plan
which the Brotherhood of Locomotive En-
gineers, the oldest Of the railway organ
l~zations, has favored.
The Alton Uneasy.
The Alton road is now becoming un-
easy over the promised outcome OF the
investigation which the Rock Island and
the Atchison are making into the alleged
violations OF the summer excursion agree
ment. The Alton says that If the other
lines see fit to make a round-trip rate of
SIS between Chicago and Denver as a re-
prisal against any line caught violating the
agreement, that it will lose no time in re-
ducing the emigrant rate to the Pacific
coast. This would upset entirely the
agreement which the Western Passenger
much trouble, and would open the way for
q war in rates most destructive to the
revenues OF the association lines. Mean
while. the Atchison and the Rock Island
declare they are not 10 be moved from
the position they have taken. and that If
they find sufficient cause they will at once
begin active operations against the rate be-
tween Chicago and Denver.
Personal, Local and General Notes.
Paul Rainier. chief of the weighing and
inspection bureaus, Is in the city.
The railroad branch of the Young Mems
Christian Association in Pittsburg has 156
active members.
c. A. Waterman has been appointed trav-
cling passenger agent of the Toledo, ST.
Louis & Kansas City.
Train AZ on the Peoria & Eastern, the
fast train OF that line, ran into Peoria
In May thirty-one times on it's scheduled
time.
The suit OF ]. b. Harter. late superin-
tendent OF the Chicago & Southeastern, for
salary. will come up in the Court Of Com
mon Pleas, at Anderson, on SATURDAY..