Delaware gazette and state journal. (Wilmington, Del.) 1883-1902, 1897-01-14
P, W. & B, ANNUAL MEETING.


Statements of tho Results OF last Year
Directors and onieprs I5ieoted.
The 59th annual meeting OF the
Philadelphia, Wilmington g. Baltimore
Railroad Co. was held Monday at the
Office Of Superintendent W. N. Ban
nard in this city. The directors ar
rived in General Manager Ii. +.
kenney's private car No. q at l2.O4
p. m.
The annual statements Of the opera
tions of the road and of other roads
operated under lease or otherwise by
this company, together with the report
OF the Comptroller, general manager and
trustee OF the two sinking funds for
the year ending October 3lst, 1896,
were presented.
The gross earnings from the opera
tons of the p W. d d. railroad for
the year ending October 3lst, 1896 were
50, DAT. l3l. 80, and for the previous
year 81, 142, 532. ga. showing decrease
in gross earnings OF S95. 40l. 81,
The expenses for the same period
were Sc, 694, 00T. Sc and for tho previous
year Sc, 526, 800. II, showing an increase
in EXPENSES of S167, 1855 The net
earnings for the same period were
| So, 353, 1913. a. for the previous year
81, Clio, GAL. %, showing decrease OF
$500, SIS, 10.
The income account was: p, W. &
Ii. railroad earnings, "a. 295, TOT. 81 /; ex
| penses, So, 900, 1853. 10 and the net earn.
ing, 81, 205, 35i. 22. The total earninge
of all roads controlled was 50. 047, 13l. 30;
expenses, $6, 69i, 007. DC, and net earn
ings, 81, 1853. 1874.
The results Of the operation of the
II, va b. railroad for the year after
deducting expenses, interest on bonds,
ground rents, taxes and payment OF
dividends at per cent, was surplus
of S3l6, 171.07.
While tina results of the system for
the past year were not as favorable as
for 1885. they were as satisfactory when
compared with tie general results from
the railway operations of the country.
The reduction in revenue was about
equally divided between the freight
and passenger traffic, while the in
crease in expenses was distributed
throughout the different departments
and was dut in part to outlay of equip
mont.
The tonnage shows decrease OF
81, 524 toms The largest reduction was
in northbound local and through
freight, the southhound freights SHOW.
ing an improvement 10 both classes
Eight new standard locomotives were
built to replace like number put out
OF service and five new passenger
coaches ana one baggage and mail car
to replace those DESTROYED by fire in
April, 1886; 1il freight cars and two
stone and wood cars were built. The
equipment was increased by $50 gon.
dolas and 900 box cars, the cost OF
which was S409, 692. 81. Sidings laid
during the year was about five and
half miles, There were 4, 14S tons steel
rails and All, TAT ties used in repairs
and renewals.
The Delaware railroad shows an in.
crease in earnings for the year due
mainly to the fact that there was a
reasonably good fruit crop on the
Peninsula.
After paving its regular dividend of
per cent, one half of the surplus, or
SIT, 3O9. ~, was paid over to the p,
W. d. b. Go. as a profit under tho
terms of the lease, like amount being
contributed to the sinking fund for the
payment of its funded debt.
The smaller branch lines on the
Peninsula. tributary to the system
preceding year.
was opaned by the company on the lst
of May, 1896 The EXPENSES of this
road continue to exceed its gross earn
ings. The Delaware, Maryland & Vir.
glnla railroad shows reduction in
gross earnings and deficit of So, 279-
so in meeting it's fixed charges.
The RnItimnra G. Dntnu,,,
shows falling off in it's gross earnings
for the year and small deficit Of
S., 574. so in meeting its fixed charges
and other Liabilities.
The Washington Southern railroad
shows deficit Of $40. 7G7. "a.
Tine board noted with deep regret the
death on December 18th, 1886, of ono
of their most valued members, Henry
ID. Welsh; also the death of John Scott.
for many years the solicitor of the com.
pany, who died November Goth. 1896
The report closed with thanks to the
officers and employees whose 80 faithfully
discharged their duties during the past
year.
Christian q. Febiger and Harry
Cooley of Philadelphia and Edward
Bringhurst OF this city were appointed
judges of the election for directors for
the ensuing year. The following were
elected: George B. Roberts, William
Sellers, Jacob Tome. John i. Green,
Benjamin Il. Newcomer, Frank Thorn.
son, Skipwith Wilmer, Hon. Edward
Lloyd. e Il. Warner, German II. Hunt
j. b. Comegys, N. P. Shortlidge,
Preston Lea. John Cassels and William
ii. Barnes.
The directors then meet and elected
tho following officers: President,
George T. Roberts: First Vice Presi-
dent, Frank Thomson, Second Vice.
President, John z. Green: Third Vice.
President, Charles E. Pugh Secretary,
Joseph G. Sims; Treasurer, Robert VI.