The sun. [volume] (New York [N.Y.]) 1833-1916, 1897-03-02
gailroads.

| henthl- OF equip
- 5~.41s.sso ~
Gross Income ............ ......s 1885, 5o 81
Rentals. leased and
operated roads ..... e9,Ro4,109 90
Interest on funded
Interest on mortgages
and ground rents,
car trusts, taxes, &c. 1889. e54 o.
---- ii.ssi.ea5 50
Net income .. Sp,gOI. IgO 20
ductions have been made:
Payments account
sinking aud Trust
aniy Of interest on
Allegheny valley
Railway bonds ..... s6I2, 8OS 70
extraordinary re.
-. a.i5o.gs7 81
Balance nf'er above payments. ....... ,7.aai. -gJ 20
DlNidcnds or . per cent ............ h.3bi.lgG 30
Amount transferred to credit OF pront
and lusa for the year 1890 .......... t1GG, 700 "a
Previous amount to credit ........... 2J.553. $50 ~
Amount charged OF in reduction Of
sundry accounts 80 ,"'.N',,, lO7.S,7 10
Balance to credit u; profit and loss De.
cclhotr 3lst, 1870. .,........ ......e 2i.l5s,3p2 30
In view Of the severe busincss depression prevailing
during a large portion Of the year, and the consequent
reduction OF trafir and the sharp competition be
w RET INV transportation interests, u Tfbultk Mh1 NJ
considered as satisfactory. after providing FOR all
OBLIGATIONS. and OK pending about tl.o00.OOO in in'
Der ceat. was paid aud q surplus Of nearly 5000 oO
carried TO the credit OF rront and Lose.
SINKING FUNDS.
Under the provisions of tho consolidated mortgage Of
the Company, G32I. 7gO were act apart on the nfst day
81 July last, cut Of the net income, ~ a sinking fund
Ivy that mortgage. There are now 81. 7as, sSY. 10 In
securities aud cash ia tho fund for the redemption OF
these bonds.
Under the provisions Of the four per cert. Equip.
ment Trust cold Loan, there was paid to the trustee
bond. at the price nred in the lease, and in accord.
anc" With the terms thereof the whole amount has
ieen invested IN additional equipment.
SECURITIES OF OTHER CORPORATIONS
The entire cost Of the securities " other CORPORA.
your Company. Is SlIU.892 .sN5.Os. The direct r-vs.
nue. received thetctrom was si.0ls.4D2,o7 which
amounted to nearly four per cent. upon their cost. and
NOR" than provided for the interest on your funded
CAR TRUSTS.
No further Issues OF these securities were made
during the year. The outstanding certificates NJ
have teen paid and cancelled, This series covered
900 ~ indand box cars sublet To the Pittsburgh, Cin.
BOO standard toS cars and i,gOO standard sGndoia
car, To- th- Pennsylvania Company. representing a
The total muIlcr Of cars provided under the Car.
trust system II $780,.
To- tel amount Of certificates issued
therefor .......... ........... ...... ;31, ga, 600 90
Amount redeemed ................. 2G.537. 900 40
Balance Of certificates outstanding
D"rcinher alst. 1895 ,,....,...,.. 3l,lO7. 900 90
The amount expended upon N" Main Line and
branches. and charged 70 capital sccoun; during the
N7s FOR equipment and real estate. Tn" expenditure
Tor equipment represented, in addition to the pur.
Jersey CITY and Twenty third street. New York. the
usual ogilay in payment for trust cHrs. and the pur
activity prevailing In industrial pursuits during the
,riinnihi ~ tn" year seemed 10 render a necessity,
In TN pATN summer however, iu fslapIugnpe
Of th" unsettled condition ~ financial AFFAIR.".
u'sctur.ng and commercial Interests Of the
country. .waich continued throughout the r..
mHiuicr ~ the year. and caused a heavy reduction in
your tram and revenue. Under thrs" circumstances
Il was deemed prudent To not only restrict the eKren.
tlnur - large portion q the work which hat been uu.
th"ri, Il n the revision % alienncu;s and GRADES upon
th- MaiI Linr. \ Comfortable amount had. however.
already teen done AZ the points especially referred TO
1H ." on ~ ~ " ra!ia AZ r il'hia h hriilStEi h and Li, ana AMI Mti
halenau:h. on tire Pittsburgh Division; but at the
direction except at Rideraush. whore the work upon
a." tanncl had so far progressed that II was deemed
RI" dcprSs,ion rrferTcI to extended over your On.
t!tN 'S.tcnt, aud a. your lines traverse a territory par.
nni iron Industries, their revenu's necessarily show a
sr.nt',t rr"rnrtionotc reduction than in the case of
~. tn Gir%gH' r%sI"aa"i I" cSn ,tr 6 : on branch
portant items OF which were the completion OF the
bridge over the Delaware River Mt fronkfori. tho
t"n aud trenton RaiirSad. and the double tracking Of
the TIt'-iFlrgh, virsInia and Charleston Railway.
tn" number of tons ~ freight moved On the three
rr.ri divisions cast - Pittsburgh and Erie In lSpO
was 1","h; 1875. u u'crcas- -. i.2a2. IOl, ur 4. 20 per
c''t tlr uuuil-r ~ pass niger YVES 30, 20. eco. u
decrease II l.E~2,2lI, or H,iS per cert
F'r other 4! '.lrual Companies east Of Pittsburgh and
i.riG IN which your Comraay Is inter, s'cd show gen
,r.llr decreased earnings. du" to the business drpres.
sion prev ai.Hg throughout the country. Detailed
sIa,cin,u;s 4 their operations willie found In their re-
-pcrtiNr annual rcpurts, A. well as In the pamphlet re-.
port of your Company. The total amount Of coal mined
during the year by the four coal companies, In which
you ARE Interested, wAs l,a75,9s5 tons. u decrease OF
2J2. $40 tons,
LINES WEST OF PITTSBURGH.
on she lines west Of Pittsburgh operated by the
pcnusN lvania Company and the Pittshurgh, Cincin-
natl. Cniragu and 81. Louis Railway Company the re-
suits " rrr as follows:
1899.
Earnings NJ PeunsylN ania Co......... ele.42a.a 76 al