The evening times., 1897-03-02
PENNSYLVANIA RAILROAD REPORT
OFFICE OF THEiPENNsYI.vANIA
RAILROAD COMPANY.

4 OFFlCE OF TIL ~PEHNSfIiNA
RAILROAD COMPANY.
| PHILADELPHIA. March I'd. 1877.
| The Board of Directors. submit herewith .
| synopsis of their FIftieth Ann ual Report lor
the year 1896:
| The gross earnings of the three
| grand divisions east of Pitts
| burgh and Erie. embracing the
| Main Line, United Raiirbads OF
New Jersey, and Philadelphia
| and Ellie Railroad apdsBranches .oo ooe soo 90
40 40 936 OF
| EhpcuseS. .........s. .s.sss''' ,o.S.
| Net earnings 81: g 7.I75 70
To which add:
interest from in
| Vestmepts .........Si, ,ySo, 800 -
Rental OF equip
| meht, oc......... 4o0.OIL y .,o ean "a
Gross income s.4. .OoB, ,O58 50
Deduct:
| Kenta!s leased and
operated roads -. IS. SILL W
Interest on funded
DEBT 4.20',o'o 20
Interest mort
cages and ground
rents, car trusts,
taxes %c''''.'.... iostg24 " 1854 Os5 50
etincome S8,SSl, 10 ~
From this amount the following
deductions have been made:
Payments account
Sinking and Trust
Funds. and qua
ranty of interest
on Allegheny Val
ley Railway bonds S6i2, ,S9S ~
extraordinary re-
2.I5s.2s "a
Balance after above payments. D, 'iSS 5S
DIVIDENDS OF 5per cent. .......,.. -- o.11 -
Amount transferred to credit of nm "a
proht and loss for the year 1896. SOY 1 ~ GO s
Previous amount to credit. Zf.ooo.5ro oo
S2I,3zO.l,O oz
Amount charged off in reduction
OF value of securities and set - &c
tement OF sundry accounts. IoI,of. ~
Balance 10 credit of profit and 81,
loss December 3lst, 1896. s24, loZ.oZ- so
In view of the severe business depression
prevailing during il large portlon ol tuc ttic
year, and the consequent reductlon vi CI'i,iro ~,
ana the sharp competition between Ii1
transportation interests, the results may
be considered as satisfactory AlteI p,i',. pio-
Ylding for all obligations, ana eXpenulne
about s. 500, 900 in improving your prop
erty, the regular dividend OF five per cent
was paid aid surplus of nearly Sooo'ooO
carried to the credit OF prollt ana Ioss'
SINKING FUN DS.
Under the provisions of the consollda ]
mortgage Of the Company, S3Z4 oo v,
set apart on the first day OF July last,
out or the net income, as hlhBluS ltuIu
for the redemption of the out standing bonds
secured lay that mortgage. Ihefe are 10"
81, ,T9S,6S2 10 in securities ana cash IN
the fund for the redemption OF these I'ohus.
Under the provisions Of the lour per cSn1s t.ins
Equipment Trust Gold Loan, there was
paid TO the trustee during lSSo dof In, Ihe
sinking fund, the sum OF Sloo,4oO. Inc
trustee was unable TO Obtain any Vi .ne
bonds at the price fixed in the lease, anu
in accordance with the terms theIeoI NC
whole amount has been invested IN auoi-
tional equipment.
SECURITIES oE OTHER CoRfoR
TI0NS.
The entire cost Of the securities OF other
corporations, including real estate mort
cages now held by your Company, IS
S119, ,992. .6950S. The direct revenue re-
amounted to nearly four per cent. upon ION
their cost, and more than provided Tor
the interest on your funded deUt.
CAK TRUSTS.
No further issues OF these securities were
made during the year. The outstanding
certificates OF Series "B'' OF the Pennsyl-
vania EquipmentTrust have been pald ana
cancelled. This series covered BOO stand
ara box cars sublet 10 the PlttsbuIgh'
Cincinn natl, Chicago and st. Louis Rail-
way Company and 500 standard box cars
and 200 standard gOndola cars TO the
Penn sylvania Company representing
The total number Of cars provided under
the CaT-trust system is 81 ,S97.
Total amount of certificates -.
issued therefor S3U ,b44. .UOO w
Amount redeemed. ......... -, Do ,Ouo w
Balance OF certificates out
standing December 3lst, -, ,,,
1896 ......,......----.- S4,Io 'uoV w
The amount expended upon the MAN
Line and branches, and charged TO capital
account during the wear, was S2,531 ~ =
CO. OF which the larger portion was Tor
equipment and real estate. The expenditure
for equipment represented, III addition To
the purchase or two boats for use on lhe
new ferry bet ween Jersey City and ] Tw"nty-
Third street. New York, the usual outlay
in pa ymcnt for trust cars, aud the purchase
OF 400 box and 900 Eondola cars wilich
the activity prevailing IN lndustlal pur
suits during the beginning OF the wear
seemed to render necessity. In the tArly
summer. however In consequence OF tEe
unsettled condition or financial affairs, a
serious depression occurred IN the manufac-
turing and commercial interests or tue cOun-
try. which continued thrOughOutth the Teililln-
der OF the year, and caused heavy re
duct ion In your traiilc ana revenue tnuer
these circumstances it was deemed prudent
to not only restrict the expenditures ON
construction account. but also 10 ht>con-
tinuc large portion OF tte wo'k WIiICu Which @ nad
been authoriZedin the revision or all ligniiients
and grades upon the Main Line. a consld-
cradle amount had, however already been
done at points especially Teferrrd u n the
last annual report. namely, hlnknr ahd
Mt Jov, on the Philadelphia DIVISION, and
Illlys and Radebaugh, on the pittsburgh
Division: but at the present time no iutthSr
OUTLAY is being made In TINS direction -eN-
cent at RadeIaugh where the work upon
the tunnel had so far progressed that 1t
was deemed unwlse to suspend operations.
The depression referred to extended over
Four entire system, and as your zines ira
verse a territory particularly dependent
for it's prosperity upon the coal and iron
industries their revenues necessarily show
a greater proportionate reduction Tran In
the case of other lines not so situated.
The amount expended in construction on
branch aud auxiliary lines WIS 81 ,2S3,-
$40 so. the most important items If which
were the completion of the bridge .7Yer the
Delaware River at Frankfort, the con-
StructiOn of portion or the fhllalcipnia,
Bustleton and Trenton Railroad, and the
fouhle tracking of The Pittsburgh, virginia
and Charleston Railway;
The number Of tons Of freight -,loVed on
the three grand divisions east OF Pittsburgh
ana Erie in 1895 was 72.967,125, de-
the number Of passengers was 26, 10, 220,
a decrease of 1 ESQ, ,217, or 3. l2 per |
cent
and Ere In whlch your ON,
many is interested show generally decreased |
earnings due to the business depression pre- |
yaiIiug throughout the country. Detailed |
Statements of their operations Will i'e found |
in their respective annual reports, as Well |
a sin the naInphlet report OF ynur company. |
Tbe total amoInt of coal mined during the |
vanr hv the four coal companies, in which |
Won are Interested. was ,976,385 TONS, |
decrease of 232. $40 tons.
LINES WEST OF PITTSBURGH.
IN the lines west of Pittsburgh operated by |
+be pennsylvania COMPANY and the Pitts |
hnrgb Cincinnati. Chicago and st Louis |
RAILWAY Company the results were "a fo'- |
lows tz o.
Earnings of Pennsylvania Co... sl9. 429 o15 81 |
Expenses ..........--..'....-.-.'' u. iI.OOi ~
a. ~ M |