Evening star., 1897-03-02

psny is largely interested to rebuild its passenger
station. and thus furnish improved terminal IA
ciliies at that important point For this purpose
il created general mortgage securing $SO0, 900 Of
! fosir and one-half per cent ffty-year bonds, of
which S4jO.CoO sold the balance Of the issue
being reserved retire such Of the prior lien bonds
| of tho Company might not he redeemed through
the operations Of the sinking fund connected there
with. The work upon the new station is rapidly
pG.res sing and Will be completed during the COIN
| The number of of freight moved the
lines west Of Pittsburgh was 46 i76 l4o. decrease
81 DECREASE ns n"%seg OF ses7s passengers was
The gross earnings of all lines east and west
operating expenses, sss, 80 $50 30, and net earn
ings: sa5 100 80 desyesst . s l.. gross sarninss
earnings of 81. .12O 952 ~. There were AS 1872 ga
tons MS, Of Of freight moved; o, g being decrease OF
a decrease Of Z, ,7s4,25s '''e''''>'' sA'''@N'
GENERAL REMARKS
There has been p:id the Managers Of the Trust
created October 9th. 1878. 10y the Company, to
The total income therefrom has been So 0s7 800 So
ard on that date securities amounting at par to
ierest of five and one-h half per cent for the year.
There was appropriated i 10 % the Trust for the year
The bords of the American Steamship Com
piny. amounting to 81 800 900, the principal and
p1ny. matured October 1st 1896 and 81 ass 900
thereof which had been presented up the close
mat amount. together & WITH ss7a @ s % the aggra una
gate OF the coupons purchased from time to time
Is tnty Hlatufeu. mas been ch1rgcd against the
principal OF the fund, well 100000 CT the
-ln,s of the Pemherton and Hightstown Railroad
xhieh were guaranteed by the tinted New Jersey
ndrr the lease of the property Of the latter com
inny. Thee obligations have practically no value
md, as n result of the conservative Policy pursued
IN the creation and maintenance Of the Trust have
been zen met without any draft upon your treasury.
The "ssets of tn. Insurance Funi at the End of
the year were So. 762. n being a decrease o.
III 0s9-SS as compared with 1895.
The niernl'eGship of the Employees Relief Fund
he
Slnce ITS establishment During the year the
any ard its affiliated lines contributed $103 74s II
for oleratine expenses. and S40.214.2O for extra
.ed more than 80 weeks and who we're Therefore
no longer entitled to regular benefits from the
the balance on hand at tho i.slnnn:s of the yeai
Ssa ;a'4 vi. After distributing s257.o4s.4s in
lbiiity arising fron sickness and accident and
aeetng all its obligations and providing nnad usteJ
lied over to the present year.
The number Of deI,cstors in the Fmployes, Sav.
ing Fund at the end Of the year 1914 an in
.rease or i3l The amount received from depos-
tors dlrins the year was S46i 1So rs and the
i'e - @ s,, N ,f the fund at the close of the
'SHS626 of which 81. 100, 600 Is invested in
securities bearing interest the average rate of
purchase the Sl.S99.OO0 of seven per cent. first
rcrtsage bonds Of the st. Louis. vandalia and
January 1st 1897. This road is operated under
lease by the Terre Iiaute and Indianapolis Rail
o'u '"nls'h!, ana the latter ha:ing been unable
10 ctt It's obligations to the other lines leased h,
". al IT'S properties have been. ut their instance
placed In the hands of n receiver Under th,,
state Of facts, although the Vandaia Company
was in no way responsible for the default Of Its
lessee, and was fully able to meet its own oiliga-
tons it was found inpracticable sell It's sec,lri-
lies TO advantage and thus provide the means to
retire the bonds referred to- Your Company has
thei6f fore. rs the indirect yunrantor thereof be-
come their purchaser. AMI will hold them until
the reia ions between the Terre Haute and Indian
apoiis Railroad Company and it's leased lines are
finally adjusted "
On April 18TH 1896. the Fiftieth Anniversary of