Evening star., 1897-03-02

dIctious have been made:
Payments account
Sinking and Trdst
atty of interest
Allegheny valley
Railway bonds. S542.39S ~
Extraordinary renew
- 2.l59.2g7 a
Balance after above payments. s7.2s1 .s2s 20
Dividends of . per cent 6,+t5. i22 20
Amount transferred to credit Of profit
and loss for the year 1896. ....... S7e6. 100 II;
fFe'tous amount To credit 2:;,h'5. 1863 ST
Amount charged of in reduction of
value Of securities and settlement
OF sundry accounts ts--............. 167.s47 76
Balance credit of profit and loss
December 3lst, 1896. S2I l52 I'D 50
In view of the severe business dcpr.ssion mr.,
vailinS during u large portion OF the wear and
the consequent reduction of trafhc and th. sIriI,
competition between the Transportation inter,sI.
The results may he considered satisfactory
After providing for all OBLIGATIONS. and expendia.
About Si,5sWo in improving your property III
regular dividend of five per cent was paid and =
surplus Of nearly ssooooo carried to the credit or
SINKING FUNDS
Under the provisions OF the consolidated mort
gage Of the Company. S32i. $50 were set apart on
the first Jay Of July last, Of the net Income q
sinking fund foI the redemption OF the oat
staHiiiS < bonds secured by that mortgsIge Iher,.
81 1ys is2. 10 in securities and cash in the
fEnd for the redemption Of these bonds.
I nder TIE provisions Of the four per cent E,uiI,-
pent Trust Cold Loan. there paid TO the trus
ee during 1886 for the sinking fund. the sum OF
The bonds at the price fixed in the lease AMI il,
he' orianee with the terms thereof the Who'll,
SEtJ RITES OF OTHER CoRPORATiONS
The entire cast of the securities Of other corpora
your Company. is Slls 9s2. .s.5.0s. The direct rev
eiue received thercfrln 81 .615. 49, 81 which
and than provided for the interest on YOU
funded debt.
CAR TRUSTS
No further issues Of these securities were mad,
Curing the year. The outstanding certificates OF
have been paid and canceled This series covered
geo standard box ears suhlet to the Pittsburgh
Esny. and 80 standard ears nd 200 stand:rd
/'hdold 'ars 10 the Pennsylvania Company rep
f,Senting total cost of S1.0I0OtU.
The total number of provided under the Car
trust System Is 81 gI1.
Total amoUnt Of certificates issued
therefor ---....--.....-........ $50 644 600 co
Amount redeemed. d..-............... 26 a37 900 o.
Balance Of certificates outstanding
December Slst, 1895. ............. s4.107.OOO Oo'
The auI'tni expended upon the Main Line AMI
b-ahrhr> and charged to capital account during
the year was s2.33i II 65. Of which the larger
portion WIS for equipment and real estate The
.ApeHditur" for equipment represented in addition
ferry between Jersey Citv and Twenty third Street
New York. The usual outlay In payment for tr,ls,
d"a ears. which the activity prevailing in indus
trial pursuits during the beginning Of the year
u
mcr. however. In consequence Of the un--ttied con
diti"a "f financial Affairs, serious depression
curT'1l In the manufacturing and commercial in
tereSts of the country. which continued throughout
the remainder of the year. and caused heavy
dnction in your traffic ard Under these
circumstances ii WAS deemed prudent to only
restrict the expenditures on construction account.
whrh had been authorized in the revision of align
ments and grades upon the Main Line A consider
the points especially referred to in last an
nnal report. namely. kinzer.s and Mt: Joy. on the
ON the Pittsburgh Division; but at the present
time no further outlay Is being made in this diret
th- tunnel had =" far progressed that IL deem
ell nnvise 10 susIcmI operations
Tia ,IreS<isnn referred To extended over your
entire system and as yaur lines traverse terri
tory particularly der'endent its prosperity upon
sarily show greater proiortonate reduction than
in The Of other lines situated.
and auxiliary lines was 81 rs; $50 80. the most
important items Of which were the completion Of
the bridge over til" Delaware River at F-ankford
the construction of portion OF the Philadelphia,
Eustleton and Trenton Railroad and the double
tfdrk1ls Of the Pittsburgh, Virginia and Charles
The number of tons Of freight moved on the three
grand divisions east Of Pittsburgh Erie in 1876;
was e sG7,12 decrease of 52,2. i0l g 7G per
d.rrcas. Of s2 eI3 Sr % nsr "aT crnt 90
The other Ksilr'ad Companies east of Pittsburgh
reneraily decreased earnings due 10 the business
oppression prevailing throughout the country. d.
in their respective annual reports. as well as in tho
pamphlet report Of your Company. The total
anr0Int OF coiI mined during the year by the four
coal eomrani-s. In which you are interested, was
1s'' iSns 11s r assrsr @ Of 233 s4s ,aIs
ON the lines west Of Pittsburgh operated by the
Penn:y iv5nla COMPANY an,i the pittsburgh. tin
fhe results wtre rs follows:
Earnings OF Pennsylvania Co s1s. 42s a75 81
EAp h7'-s OBSERVATION-DISCLOSURES II. III col "a
leaving n; earnings. s7.s12a71 OF
Rental Interest. 10. ySS
Net profit on Penna Co.'S lines.. sos ssa 90
Earnings of Pittsburgh Cincinnati.
Chicago and ST. Louis Halfway .S16 sI3 S5I 50
ANP-nSes -----------. ---.-------.----. 1888 ~
leaving let earnings s451ss,5 IS
Rental interest, &e--------.-.-.. 3.s5o.9I2 80
Net profit on Pittsburgh Cincinnati.
.hic;sgo and ST Louis Railway
'''npanys lines --------.--.--. sse2.si3 IS
Net profit on lines directly operated
west Of Pittsburgh ss72s se5 5a
int HtheT In.s west OF Pittsburgh. account
OF which your Company has assumed direct oblic,,
tofs. or in which IL Is largely interested tbr1gb
,t.-.H SIP % securities but which are operated
tAi"nSh their own orsanizs tons show the follow
III" aggregate gross earnings of these
rI, I"ads We're ------.-.-...--- So. 222 3g7 67
's --'--------- ---------.--.---- o.09o,932 90
Net earnings s-...-...-...-..... 81 13I 4o4 Al
'eH'''4' interest @e--..---- 1,4Os, 2:s7 9G
SS -------.----...-.-.. s276, s:s3 u
o' This loss the Pennsylvania Rail
rad IS responsible for. .-...... SO. 7as n,
Wlirh deducted from the profit ~ VI
Si'"h above -----.--------....-. s72,323 80
Leaves net profit all lines west
''''u's iof 1880 '-------.--. $67I.5S7 ~
It@ results from the working OF tbes. I,n.s
emphasize the unfsvorable conditions prevuiiinr
IN the manufacturing interests of the conn,rr
ana SHOW large falling OF In tonnage and reye'
nut, Ihey were, however fully able TO meet all
liabilities and carry Il surplus TO the erad,, a.,
po1t and loss On each system y,
The amount expended On account of x,-,,.,,
equipment. and real estate during lssf ON ,h IL
vest OF Pittsburgh 81. $50 Oeyo ~ ~ ~
ihe expenditures for capital account o, ,h,,o
Iles were fos additional equipment and real st,,n
Lack ann terminal facilities 4 further SIM n;
ai"dt SZi",cD was Invested In the t.rcl,asr a.,
ibe stock of the New Castle and B.-.yer Vat,.y
nhh cincinnati, l-eAanon and Northern I,iI,ya,
i-cnp1nrs- The former r0ad WIS operated ,,,,i.r
ur irsse OF the Pittsburgh. Fort Wayne and chi
lnIr