The times., 1898-03-01
s2I.22%.1S0 %
Deduct amounts charged off as fol

............ |, iJb. III OD
Amount charged off
in adjustment OF
,, 100, So -
Balance to credit Of profit and loss
December $lst, 1897 SD, So, ,95G 9s
SINKING FUNDS.
Under the provisions of the consol-
dated mortgage of the Company. S324 7S0
were set apart on the first day of July
last. out of the net income. as a sinking
fund for the redemption of the outstand
ing bonds secured by that mortgage.
There are now s. 319 90S. n in securities and
cash in the fund for the redemption of
these bonds.
Under the provisions Of the four per
cent Equipment Trust Gold Loan, there
there was paid to the trustee during 1897,
for the sinking fund. the sum of 1886 i00.
The trustee was unable to obtain any Of
the bonds at the price fixed in the lease.
and in accordance with the terms there
of the whole amount has been invested
in additional equipment.
SECURITIES or OTHER CORPORA
TGONS.
The entire cost of the securities of other
corporations. including real estate mort
cages now held by your Company is
S119.G19. 1881. The direct revenue re-
ceived therefrom was 4.6l6, ,2l5.S4, which
amounted 10 nearly four per cent upon
their cost, ard more than provided for the
interest on your funded debt.
CAR TRUSTS.
No further issues of these securities
were made during the year. The out
standing certificates of Series "A" &c"
D." and "E of the Pennsylvania
Equipment Trust. We're paid and can
celed. These series covered 5,5G2 hopper
gondoias in service on the Pennsylvania
Railroad; 900 box cars. subleased to the
Pennsylvania Company; 256 gondolas
subleased to the Northern Central Rail
way Company: and $40 box, 100 gondoia,
and l00 fiat cars, subleased to the Grand
Rapids and Indiana Railroad Company,
REPRESENTING in all S634 cars and Il total
cost If $1,000 600. These ears have there
fore now become the property of the re-
spectiye lines which contributed to the
cost thereof
The total number Of cars provided un-
der the Car-trust system is - 997.
Total amount OF certificates issued
therefor .-.......-... ...-....-- s31,6i4,Oo w
Amount redeemed. 2I-Sj2,OOl ol
Balance OF certificates outstanding
December 5l-t, lS9s.-....-..,.... S2,1S2O0J q
There were no charges to capital ac
count during the year except for equip
ment This expenditure amounted t
SS2l. 1870. and represented the usual out
lay for trust cars.
The number Of tons Of freight moved
on the three grand divisions east of Pitts
burg and Erie in 1897 was a. 80 i65. an in
crease of 6,5953i0. or 9.4 per cent: The
number of passengers was 3i,99L52i. a de
crease Of liz. .596 or 3.24 per cent
The other Railroad Companies east 0
Pittsburgh and Erie in which your com
pany is interested show generally i'm
proved results Detailed statements o
their operations will he found in their re
spective annual reports, as well as in tn
pamphlet report Of your tompany.
LINES WEST OF PITTSBURGH.
on the lines west of Pittsburgh oper
ated by the Pennsylvania Company AM
the Pittsburgh. Cincinnati, Chicago an,
St Louis Railway Company the result
were as follows:
Earnings OF Pennsylvania Coco. $20, 22j,670 !
Expenses OBSERVATION-DISCLOSURES. l2,l7j.G0O :
Leaving n.t earnings. sso5O.O60 >
Rental interest, etc.....-..-....... 7,oo6,'oi o
Net profit ON Pcnna. Co.'S lines. S9s&,lG5 ,
Earnings of Pittsburgh, Cincinnati,
Chicago and st. Louis Railway. Sl7,17L942 !
Expenses l2llf.c34 :;
Leaving net earnings. ............. S5,6579o7 ;
Rental, interest, eJc...-........... ils1,2o3
Ntt prom, Oh 'ru17sI' ,,i a. IN
' ii'''' ~ ~ III r.; ,'' - I'm IN. ,
Net profit on lines directly operated
west OF Pittsburgh. h............... - ,45@,s69 I
,...-.,--,
! me "ihef l'.fS west % il''9pu,SH' "i
| account "i "hitn your '"iiiod"N mas as
/ Suih'u "if"'' "plsl'l"'lS' 81 III "il'Cn 1t
! ISeiS l''ei'Sic" through ownership
! H''uil'leS' pul "hl'h are operate
lni"uEn 'iielr Owl, "' 'Sd''I@' l'"l9' Sh"N
! Inc ioiio"lhs results.
inf aSsIrInt' EI"NS earnings 'i .e.c- co.
/ rxpen.rs isgi,n ,nsi
/ Net earnings. ................ Sl,&53,75G
Deduct rental, interest, etc........ l,53'''53
l. S1ai ia :
OF this loss TIA" Penn~, iyania Rail
i9"a - IrNP'n''plt ''' ;...'.'.'s;:' fll''-'i
ib,,, I',,, Nv ''''" '"' l,g sGa
Leaves a net profit on al lines west