The sun. [volume] (New York [N.Y.]) 1833-1916, 1898-03-01

uENEhhL NbhAhNN'
.-m be noted that there vas no increase n the
nMI, of your company, and that the obigA-
fundedueut y' the Pennsylva nia Company were AZ
tons Hs.t prevailing rate OF interest. ana 10Y me
purpot.vnys on lines forming a part OF the systom OF
~SnCompany, tho Managers Of the Trust created
Ibe rVr'Ib 1878, hereto appended. shows that there
SaoSS een paid by the company 70 CEN Sins,
1877, the s sum has been 50. $40, i4b.9s. and that on
tome s '.rTUTitirs amounting at par TO sS.!so.t10
S,r. held In !ns d .Sr iise7 The sum Of sst, ssio.tS.
hel," rl., having been In operation Tor nearly
lbs osr,it has become uuito dincuIt 10 pur-
twenty se .N"ot,tirs prescribed ny Its terms, its opera
eha,e now confined TO bonds or slochs. OF when
~ principal or ne Interest on ntior TO ia erpS.
benz IA deemed wise. therefore, that is scope
nal II be enlSrEed so a; TO- lae aMrl,nc, thps es,prrS
tpce Tn,inn TO that effect will be brought before the
ai,nssboIders at the next annual meeting, tne nouee
ns,uIred by tho terms Or the itust making heeo''
rluuH' ~ cfsr action until that time.
AL s,..t. u the Insurance Fund At the end OF the
i.Ttc $3.50. 1888. 80, being an increase OF SlSS''
Hn. ,aemtcfship Of the Employees Relief Fund OF
tei.nss waI ts,8i6, tho largest since Its establish.
nat pnrlng the year the members eontfi1uteo
a'ssSSnr,,lGuted slo0. ols. sv for operating expenses,
lLss,.uIS aSg 30 for extra benefits to members whose
.na ,SiTy nsi continued for over b9 weeks, and who
a a.. therefore, no longer entitled to regular senenss
W, ,he Fund. The total receipts were bSl%,,es.ls,
sss q: balance g. a Sis., , 81 the S ssos. ~. 81 inc In a ssa5
ttSoso' "a tsg6. pYY. v8 in cases of disability arts.
ins from sickness and accident and mee,,ng da,s
ou,S us a balance OF s50s. 736.a5 remained to the
credit Of the Fund as the result OF IT,. 9per ns,s az iSr
,ns,sd claims FOR benefits growing out OF sickness or
,,@oSeia:1t occurring during ar ,s.s sh Ss7lPs s5i after T paSTid inn
Is such ,l%i.bili,iSs !, making nal E"ns ,' ss 1ss,sg.,s surplus for
uTss number OF depoaitors in the Employee Saving
s Y The amount received from depositor. during
u. ys.r owss ss ~ tse year was 81. s6s. Iix.f2. Of which
Z, soo 900 is invested in s%ecurities bearing interest
si!ns ~ n'SessIts msmbered as stated in the last annual
.nort that the heavy reduction In traffc and revenue,
rnpssonent upon the depression heretofore existing
SSi he Commercial and NEUTRALITY-SUSPICIOUS. interests %
H. eonntry, had con PEELED the discontinuance OF the
greater p ,ss sns Tt ses M and grades wnies OF the Main Line.
a. eonsequence thereof. tho largo expenditure al
ready ! mad, ,s.nT rS%" ansii . isP iStter part OF one 1877 ~ wSen
mo,s favorable conditions justified Its continuance.
ithas since been reEMrin TIgr p sOs hstH, an h iiiy .o q
portaSe and from Couomaigh Furnace to Nineyeh on
The Pittsburgh Division. while IL has been nnisnea AZ
inS Of the track. at Radebaugh on the latter division.
In consequence of the late period in the year Ct
vhich the work was resumed. a large portion thereof
All remains TO be done. and, as further noted, q spe.
sai appropriation has been made for Its speedy com.
pletIon; ,,.,. Al. r,or.u.rt ., train, ov,-
thsAllegheny Mountain provision is also now being
Ss ! i and for a complete threstracE system FROM
kWt,nnipg Point to the east end OF the GallitEin Tun.
nal The widening OF the new Portage Tunnel and the
souble tracking Of the Portage ROAD from the tunnel
Il Cresson have also been placed under contract.
In order 10 secure the best results from outlays Of
thiI character 1t Is necessary that the work should.
ThSn once begun. be pushed TO completion, and 20
that end il has been decided to create an Extraordi.
rIry Expenditure Fund. in which shall be set apart
froni time 10 time such sum rs can properly Be spared
for such purposes from tho current income without
,noroaching upon the dividend fund.
Lportion OF this fund will also DO applicable to
ms,t the large expenditure necessitated within the
neIt two years by the provisions of the Interstate
Commerce legislation. compelling the equipment Of
ali freight cars with air brakes and automatic coup
I'm, and other improvements to tho equipment.
me bridge over the susquehanna River at Column
bn about q mile in length. which was destroyed by Q
wind storm late in 1890. was fully restored and