The evening times., 1897-03-02

ciIities A further sum of about So, 1 90, 900
was invested IA the purchase OF the hs,i SICK
OF tne New Castle and Beaver Vehcy,
ana Cincinnati, Lebanon and Northern
Railway Companies The former road
Was operated under your lease OF tne
Pittsburgh, Fort Wayne and Chicago Rail
way, but as the requirements of the lease
IN regard to the division Of traffic aid
revenue Wee not in harmony with your
the Pennsylvania Company to become its
owner. The CincinpQti, Lebgnon and
Northern Railway is line running north
cry from Cincinnati, distance OF about
90 miles, and having terminal facilities
IN that city, of special value in Gonnec..
tion with your lease of the Little Miami
Railroad.
FUNDED DEBT.
The funds for the above purposes We're
oDCainedfrom the sale OF the SO, 900 900 of
Iour per cent Consolidated Mortgage bonds
OF the Pittsburgh, Cincinnati, Chicago
ana st: Louis Railway Company, referred
further sale of So 900 900 of the same Sc
curlties made during the last year These
securities were held In the treasury of the
4 ineinsy wanna Company and involved no
Increase IN the funded debt of the Pitts
nDurgn, Clncinndti, Chicago and st. Louis
hallway Company
,. me work OF rebuilding the bridge over
Ine ONO River at Cincinnati is almost COM
pleIed, and its improved highway and
elohey facilities are expected to largely
increase ns5I that part OF its traffic.. For the
- HpoC VI GtIlTtIlE tne outstanding seven
pr cent bonds, amounting to 81 100 600,
VI Che newport and Cincinnati Bridge Com
pdny, ana providing portion of the funds
nor 1or Gne reconstruction of its bridge, that
company sold 81 400 900 or It's four and
one-hdh per cent bonds, guaranteed prin-
cipal and interest by the PENNSYLVANIA
~ ,1,onlpany, py, which owns a large majority of
its capital stock
IL also became necessary for the Union
nepot Company .ofColumbus, Ohio, in which
SouI company is largely Interested to re-
CO nTNa nfrkf
Hlsn improved terminal facilities at that
important point. For this purpose it Gre
aGed aHd general mortgage securing $780,
900 or four and one-baIf per cent fifty
year bonds, or which S45O.OoO were sold.
the balance OF the issue being Reserved In
re rre1iIe such or the prior lien bonds of the
tbn tbUnIpany n,,ay as might not be redeemed through
the ~, operations ofthe sinking fund connected
=, ,SneIeWl1h. The work upon the new station
10 Idpiuiy progressing, and will be COM
p!rteu pTn during The coming summer.
the ilhes west of Pittsburgh was 46, 6,I76,14O
decrease of 6, ,202,941. The number of
89aaSsengers 9aa :, nGs was 1879, ,284, decrease of
The gross earnings Of all lines east and
e9s1 Wss1 OF pittsburgh for the year were 81 23,-
39dd a1 2o.i9; operating expenses $50, ,329,-
oES.oo, and net earnings, $40, ,3O4 100 80,
a decrease in gross earnings, c0inDared with
1898, OF So ,6S5, ,233. 35, a nd in net earn
I1Gs ig5 e2 OF -, l20;962:79 There were 145,-
crease of12, ,472, ,765 tons. and lab. $50
256. ''' 'ari'eu' decrease OF 2'734,-
GENERAL REMARKS.
tba dhe[e T has been paid the Managers Of
th the trust created October 9th, 1 S7S, by
the e company, TO December 31st, 1896,
the sum OF S4,5S2, ,407.78 The total i'm,
ooihe therefrom has been Sc. .O67 ,399. so,
dhu on Ihat date securities amounting al
par to SS,212,73O were held in the TInst
yleldlnG aninterest OF five and one haIf Der
eGht, eG T. t9r , the year There was appropriat-
OF S73. 3.O4S.72 ' sum
Inc bonds OF the American Steamship
DnrItipdnF, amounting to 81 500, 600 the
i,i,a ~ clpai ana interest OF which were
October 1895, and ST ,4sb 900 there
~, 81 "nlch mad been presented up to the
Trust p Fund 9de T6a TTe6aT were paid out Of the
sol $3.50, the aggregate OF the coupons
PuICnaseu from time to time as they
ii!aIuFed; has been charged against the
If tSa Hn %L the fund as well as S160,OOO
toWn Railroad, which We're guaranteed nv
me me United New Jersey Railroad and Canal
fa Euiil'anyr ana assumed by you under the
ithSe OF the property of the latter com
pdhy- These obligations have practically
10 no Vaiue, and, as result OF the cOnserva-
i've policy pursued in the creation and
maintenance OF the Trust. have been met
"Ihoul any draft upon your treasury
Inc assets OF the Insurance Fund at the
emu OF the year were S3,762,61I. he.
with 1895 'P"i 0u
me membership OF the EMPLOYEES Re-
iei una at the close OF the wear was
fo'oo6' the largest since its estabIish-
ihrht: during the year the members con
I IIlButed S694, 776. 40, while the Company
ana lts AFFILIATED lines cont ributed SiO3t--
a4S.Il Tor operating expenses and $40
20 for extra benefits to menhers
nhose disability had continued more than
p weeks. and who were therefore no
longer entitled to regular benefits from
5ie We uhu. The total receipts were Ss55.-
oou.i4' and the balance on hand at the
BEGINNING or the year, S294, 954 g6 After
HlNnbuuDE S257.OiS.4S in death hpne
litS, ana S3l3, 1893. 81 in cases of dis
ablilty arising from sickness and acCi
dtht' ana meeting all it's obligations ard
providing unadjusted tIea Tn claims. a
DdIanCe or 1888, PSI. 73 was carried over
TO The present year
Inc number OF depOSitors in the Frn-
ployes Saving Fund at the end OF the
year was 4,944, an increase OF 43l The
amount received from depositors during
the year was S46l. .ls9 46, and the baiance
III the fu-d at the close of the wear was
81 to9, sS3-26, OF which SI.70O 600 is
invested In securities hearing Interest at
lhe average rate Of four per cent
necessary funds were deposited In Now
BY order of