Juniata sentinel and Republican. [volume] (Mifflintown, Juniata County, Pa.) 1873-1955, 1896-04-22

ensd as q transportation line. it con
sistedof 224 miles of railroad, with q
capital and debt Of about S12. .OOO, 90,
Tee 1st year ofIts operation it carr .
not over 10000 tons of freight, and
transported about 100000 passsn
gers. From that day to this its
growth has besn what! To day i.
has obtained by purchase, in the cor
struction Of lines, and ownership
directly in your corporation, the lins
from Philadslphia to Pittsburg,
measuring about 357 miles of railroad,
which I beg you not to forget il the
keystone of your entire systen, as
tbs State Of Pennsylvania is the key
stone Of this country. The Pennsyi-
vsnia Railroad company, authoriz, d
to build and construct, and obtain
by purchase or otherwise, the com
pleted lire from Philsdslphia to
Pittsburg, owns now, and controls,
or has owned xnd controlled. 256
corporations, which by consolidstiou
and merger are to day represented
by 1873 distinct companies, most al
OF than engaged in transportation
enterprises. It controls 5000 miles
Of railroad, e,thsr by Lease or owner
ship, a length Of line that is more
than one third the distance around
the entire globe; and when you take
the different tracks, side tracks and
yard tracks It controls you have u
.rackage that measures lsrgely more
than one single rail around the entire
sphere.
"The aggregate capital of these
corporations which are owned and
controlled by your corporation, is
about 1884,, 100000, and wh!ls your
corporation moved in the year 1852
bat 10000 tons of freight-much
less than it moves now in q dSy-tha
aggregate tonnage Of the various
corporations composing its entire
system amounted to leo, 0,000.0 600 tons
in the past year, tonnage which
bears fair proportion to the ton
mage OF all the transportation lines
in the United States. Il carried,
with reasonable amount Of safety and
precision, 100000 Of passengers
In 1852 the total number Of locomo-
tivss visa about fifty, and the entire
number OF cars owned by the corpor-
alton ives not ovsr 1000. To-day
your system controls 3,400 locomo-
tives snd 141, 200 cars of all kinds,
including 226 bsrges, stsamboats
and other craft used in connection
with its lines upon the water. This
equipment would give you train of
cars extending from New York to
Chicago, solid, and largely over.
"The gross income of your corpora
tion in 1852 WAS less than $4,000.
900; in the yer 1895 the gross
income of the corporations in your
system was over S183, 100000. Those
who ere acquainted with the rsve.
nuss OF the various States forming
our good country, ard are acquainted
With the revenues of our entire
nat.on, will know that this bears
very formidable proportion to either.
Now, such c corporation as This can
rot be conducted without bringing
itself closely in connection with the
people of the United States, at least
with large portion of the United
States, and upon their prosperity OF
your company. To show you what
it does in the way Of Distributing
It's revenues, in the year 1852 it's
payroll amounted to legs than S40a,
900; in 1895 its payroll amounted to
over $40, 600, 600, and average payrol!
Of over 100000 day. This, Pro
baby, will better than anything else
illustrate to Tou ths fact that With
the prosperity cf the individual is the
prosperity of your corporation.
This $36,O00,00o bears Dat 9
slight proportion to the daily dis
baTsemont CT the company, but it is
the disbursements 10 your officers,
enployes aud those thst are engaged
il looking sitter your business. The
number Of men shat were employed
jn 1852 we have no record of to-day;
it certainlY could not have been a
very great number, but in the p,st
year you had $4,000 msi upon youi
pay roll. All this has bssn trsns
Gctsd, the vsst disbursements of thi:
monsy mas taken place in the various
administrations of your company
without your company having de
| iaulted IN aGy manner ou any OF il,
financial obligations whatever. L
has paid promptly on the day il
asreed to pay, every payroll it under
took to paJ. No Inaa has ever asket
It Justly FOR bis lnoaey who has no
promptly received it when it was due
After making all this distribution 6.
funds, what has remained for you
that are here, the shareholders OF th;
Company fer yourselves? 1t has bee,
q distribution to you in the last hal
century OF over $1G6,GO0,O00, a yer,
fair rate Of interest on every dci:al
that has ever bssn invested by th'
siiare holders in the corporation from
the first day it was invested TO Ia,
present time.
| Upon the conclusion of his address
he introduced Governor Hastings
TIE Governor delivered a speecl
ths. Wa. heartily welcomed. Presi
dent Roberts next introduced Mayo
Warwick, who dwslt upon the signi!
icancs OF the event that had conven
ed the meeting and the progress Of
great railroad. City Attorney Bur
leigh of PittsburR was next iptrOduc