The morning times., 1896-10-03

Receiver w Kesley Schocpf of the Eek
ington aud Belt Line Railways late yester-
day afternoon filed his report, accCiNpanied
by a petition and statement of the lia-
bilities and assets of the two roads. He
asks that lie may be authorized To enter
into n contract with IL. h. Porter & Co.
of Pittsburg providing for test ol the
compressed air motors and the purchase
OF ten cars for test, and such further cars
as IS Necessary TO equip the two roads.
He also asks authority to issue and sell
receivers certificates to meet the expenses
of said equipment. His report is divided
into TWO sections, one covering the Belt
line anu the other the lexington. The
two reports are very similar and the petit
ton iii one is the same as in the other.
The liabilities Of the Belt Line he states
10 be ST ,204 ,9S5.OS, and assets ,S496, =
675. A, making deficiency of $7OS,-
309.64. The fixed charges are named
al $40. 900 in bonds, with interest
payable on June / aud January l and
bonds or $50, 900, bearing interest, pay
able March and June 10. A part Of the
fixed charges is stated as being ST.
112. 54. aud the floating Indebtedness,
$147 .640.64.
LEXINGTON ROAD ASSETS.
The liabilities Of The Eckington road are
given as S920.712.16 and assets $685.,
1881, making a deficiency of $685.
992. 90. Fixed charges are given as
S199. 500 i'll bonds, bearing interest at q
per cent. payable June aud December /,
and annual taxes of S4.sSO.6G, and
floating Indebtedness Of S64. lS6.1S.
Speaking of the lexington road, Receiver
Schoepf claims that prior 10 the time when
they were compelled to take do owD the over
head wires the EekiD Cton road wa, able 10
meet its expenses and have surplus of
from $40 TO $50 per day. But after they
put on horse power the unpopular change
caused "a decrease of from $40 10 $50
per day, and when rapid transit was in
troduced by the Metropolitan line the de
crease amounted to $14O per day.
In the report on the Belt Line he says
that the books of the company show that
from the time the Washington and George
town road adopted rapid transit on the
Fourteenth street branch The Belt Lines
earnings fell below its fixed charge
about 500 PEI day and after the electric
equipment on Ninth street, the deficiency
amounted to $50 per day.
COMPRESSED AIR MOTORS.
He then speaks OF a contract entered
INTO with the lexington and soldiers
Home Rail lway Company, the Balti'nOre and
C3tonsyille Construction Company, and ii.
X. Porter X Co, of Pittsburs for the
purpose of giving the latter company an
order for compressed air motor cars. BY
this contract IL the test cars prove salts
factory the Porter Company would furnish
them under proper terms, but 1t should have
the refusal for two years Of the ConStruC-
tion of all additional cars operated 10y air
motors, required by roads in Washington,
in which the Baltimore and Catonsville
Company were Interested.
Some of the test cars were to be operated
on the Belt Line, but the Belt Line report
stated that as the test on the EcklhgJn
line would be more orerUuS the initial test
of the first ten cars WAS to be on the
lexington line.
The contract with II X Porter
Co. compelled the latter to Furnish ten
cars for trial, and after he plant was IN
operation one month the cost thereof on
a basis OF ten cars in daily use should not
exceed ten cents per mile. II, after operat-
inG the plant for four months the cost of
operating had not exceeded nine cents
per car per mile on the ten ear basis
such would be considered as u proper
guarantee for the further order.
The first trial trip was to be made he
tween the lexington power house and the
Treasury, and thence back to Fifth ana e
streets, and from there to the Center
Market, with such reserved power as may
be required under ordinary conditions OF
operating and making all stops required
on a regular schedule.
READY FOR SHIPMENT.
He stated that the comprassors ard en-
gines were all completed and ready for
shipment and II the court would give the
authority a part of the car equipment
could be put i'll operation within the fist
ten DAYS OF this month aud The whole III
operation by November 10. Mr.. Schcepf
stated that in the light or the receivers
experience the only practical solution and
remedy for the embarrassment uf the two
roads was to be found in the Immediate
equipment with an effective method of
rapid transit which in any event if not
done soon would cause them to have to
pay penalty Of $50 per day for failure