The Washington times., 1895-03-06

No car trust certificates were issued dur
ing the past year.
The total numter of cars provided under
| the Car-trust system is 81 ,897.
| Total amount of certificates issued
therefor $50 ,Ol4,oO0 20
Amount redeemed. ed.................- 23 7UU0 O0
Balance of certificates outstanding
December 3I5t 1891. 81, 6,95T, GOO 90
The amount expended for construction
and equipment on the mainline was 81 49,
| 436 OF. and on leased and auxiliary lines,
| $S92 ,937 .o9, total of az 800 ,373.l6.
The work OF extending Broad Street Sta
/ ton, Philadelphia, ard OF oonstrut ting the
| new building III connection Herewith for
| the general officesof the Company, was COM
! pleted during the year, ,yand these offices re-
moved to the he w locatonon July 9th, 1894.
! The railway facilities Of this station, and
| the character OF the general office building
connected Herewith, make it one or the
! largest and most important terminal sta
| tions in this country; and the accommoda-
! tions provided therein for all the depart
| ments of the Company service have proved
! OF great advantage in the transaction of its
business, and attest the wisdom OF this i'm
/ provemcnt.
The only other items of expenditure on
capital accoun. were for additional freight
/ cars and real estate.
The principal items OF expenditure In
! the construction of branch and auxiliary
lines, in addition to the bridge across the
| Delaware River, hereinafter referred to,
were the completion of the Philadelphia
and Delaware County Railroad, local
1 line projected for the development of the
suburban territory in the vicinity of Phila-
deiphia; the construction of twelve miles
of the EbenSburg and Black Lick Road,
| referred to in the last annual report, and
intended To develop additional bituminous
coal territory; and thepurchase OF additional
real estate on the line OF the Pittsburgh.
| Virginia and Charleston Railway, in the
vicinity OF Pittsburgh.
The number of tons of freight moved on
the three grand divisions east of Pitts
burgh and Erie in 1894 was 64 ,677 ,694,
a decrease of 5,209, ,766; the number OF
1 passengers was 3S ,596, i so, decrease
/ OF 1885. The average distance Travelled
| by each passenger in 1894 was 1870
miles, decrease of 4 OF mile.
The rate of freight received per ton per
mile was 5.s5 mills. or 29-10O of a mill
less than in 1898 The cost of movement
was Al mills per ton per mile, a decrease
OF 32-100 of mill. The net-profit per ton
per mile was no mills, an increase OF
3-100 of a mill. The earnings per passenger
per mile were l 977-IJ0O, as against
999-1000 cents in 1898, a decrease OF
22-l00 of q mill per passenger per mile.
The cost of transporting each passenger
per mile was l 5S2 1000 as against
L 5S4-10o0 cents, a decrease in cost OF
2-100 of q mill, the result being an average
profit on passengers per mile OF 355-1tUO
OF a cent. a decrease of 20-100 of a mill.
/ The other large Railroad Companies east
| ofPittsbuTg and Erie in which yourcompany
is interested show a large reduction in reve-
nues owing To tine prevailing Industrial de-
preston; but through the rigid economies
! enforced in their operation, the Let results
J hfa nnjeY thp giFpITnSt
as quite satisfactory. Detailed statements
of their operations VIII be found in their
own annual reports, as well as III the
pamphlet report OF your Company. The
total amount ofcoal mined by the four coal
companies. in which you are Interested, was
.297 ,725 tons, a decrease of315 O63 tors.
On the lines west ofPittsburgh operated 10y
the Pennsylvania Company and the Pitts
burgh Cincinnati, Chicago, and St Louis
Railway Company the result was as follows:
1891
Earnings of Pennsylvania Co... sl7,9G4 42e 65
Expenses ...----.--.-...........-. lI'o%i'%oo 81
Leaving net earnings. So 2s0, 1874 81
Rental, interest, &c................ 4 $3.50 As
Net loss on Penna Co.'S lines...... $0S6476 II
Earnings ofPitsburgh, Cincinnati,
Chicago and 81. Louis Railway SIG, ,736569 Il
Expenses s.......................... l2,47559) q
Leaving net earnings. gs.............. Si,260,91S 81
Rental, interest, tSc............... 3,563,2l7 4s
Net profit on Pittsburgh, Cincinnati,
Chicago and st Louis Railway
Company lines s............... s6g7,761 3!
Net profit on lines directly ope-
rated west of Pittsbureh. -. slO.es5 ?,
The other lines west of Pittsburgh, on ac
count of which your Company has assumed
direct obligations, or in which it is largely
interested through ownership of securities
but which are operated through their owr
organizations, are, the Grand Rapids and In
diana Railroad, and roads operated through
its organization; Cincinnati and Mdskingum
Valley Railway; Waynesburg and Washing
ton Railroad: Pittsburgh, CHARTERS anC
Youghiogheny Railway: Terre Haute ant
Indianapolis Railroad, and roads operated
through it's organization; and the Toledo
, Peoria and Western Railway.
The aggregate gross earnings of
these roads We're. .....',....--.-. Soo@1,lt6 q
Expenses. OrISD 30 .
Net earnings. sl.siS 2IO i
Deduct rental, interest, &c......... 1,03. ,479 2
Loss. sS3, ,a39 /
OF this loss the Pennsylvania Rail-
: road is responsibie for............ s59456 5
shown above. 1OaS5 .
Net loss on all lines west of Pitts
burgh observation-disclosures. sl917l ?
l The amount expended on account OF con
l | struCtion, equipment, ana real estate dur
| ing 1894 on the lines west ofP ittsbargh wa
| S631 1863 -s6. No expenditures were mad
I on capital account except such as were alb
l solutely necessary to take care ofthe traffic
| The main items ofsuch outlay were the pay
ments for trust cars, zeal estate, and tn
construction OF yard tracks and sidings.
The number OF tons of freight moved O.
: the lines west Of Pittsburgh was 43 ,0sS,
27S, a decrease of71,139. The number o
2 passengers was 16 ,634, ,303, a decrease o
2 ,366,755.
The gross earnings of all lines east ant
west ofPittsburgh Tor the year Were $122
i 003 ,000.07, operating expenses, SS5,
142 ,I74.53, and net earnings, S36, $50
g S25. .54 There were 120 ,54S $50 tons C
freight moved and TT ,106,5 passenger
carried.
! GENERAL REMARKS.
There has been paid the Managers of tn
Trust created October 9th, 1878, by tn
= Company, to December 31st, 1894, th
sum of 81 ,42O, ,s5O03, the total incom
+, therefrom has been So ,054, ,474.61, an
d securities have been purchased amouDtin
e at par to SO, ,393, ,295, yielding an interes
of 8. Ia per cent. for the year. There wa
: appropriated to that Trust for the year 1S9
the sum of $74, ,340.SS. The object sougf
> to be accomplished by its creation-that
;. pure hasing the securities upon which yor
: Company was liable as a guarantor-hs
. been steadily pursued, resulting in tfl
- &C emulation OF the large fund aboy
:; stated. and the time is now approachin
: : when the wisdom of establishing this Tru'
will be shown, through its ability to provid
the means for meeting obligations of con
. panies which are themselves unable to pr