Evening star. [volume] (Washington, D.C.) 1854-1972, 1898-03-01

properly be spared for such purposes from the
rent income without encrcaching upon the dividend
portion Of this fund will also be applicable to
meet the large expenditure necessitated within the
Commerce legislation, compelling the equipment of
all freight cars with air brakes and automatic
etupie.s, and other improvements TO the equip
The bridge the srsquchanna River at Co.
ABOUT mile IN Length , which was , de-
restored and opened for tranie July Sh 1887.
The piers that had been damaged were entirely
built and new steel superstructure replaced the
cid wooden spans. The erection Of the new spans
was a creditoble piece of work, several of them
having been placed in position in ten working
tours Will, the whole structure erected in
two nty-One days
Various improvements were made during the
year upon the United Railroads Of New jersey
Division. A change OF line was made In New
Brunswick and four tracks laid through the city.
and further progress made toward completing
tht automatic signals between Monmouth June
Hclmesburg Junction.
The new ferry between Jersey City and Twenty
ieih, 1881 The public convenience n has be.a
hugely promoted by the establishment Of this
new route and your passenger tramt increased IN
ton at Broad Street Station, Philadelphia, was
also established In connection with this ferry, AMI
provision made therefor through the purchase Of
property and the erection Of the necessary build
iLgs thereon.
and auxiliary lines SIS, 500. Is, account of
which there was received from those companies
nection via the Delaware River Bridge near
Your seashore lines and in the construction of a
branch and sidings on the South Fork Railroad
TN the seventh day Of January consolidation
was made Of the Hanover and York Railroad Com
pany and Frederick and Northern Railroad Com.
Frederick railroad Company thus placing the en-
tire line between York and Frederick under one or
ganzation.
The property heretofore known the Brooklyn
Annex, and comprising the ferry boats operating
between your Jersey City piers and BROOKLYN and
other points in the harbor of New York, has been
purchased by your company with the view of I'M
proving the facilities for the passenger traffic to
and from those important centers
In connection with the widening OF Deiaware
Avenue and the general Improvement of the harbor
front on the Delaare River by the City OF Phiadei-
phia, the work Of reconstructing the ferry facli-
ties at Market Street Wharf is being rapidly prose
cuted 1t is expected that by the list OF Nav the
the convenience Of the public Will be thereby ma
terally promoted With the view OF further turtle IN IN
double tracking of the line of the old Camden anG
Atlantic road is being completed with rail weigh
ing 1CO pounds to the yard. and by the list OF May
will be in excellent condition to meet the require
ments of the passenger traffic, which reaches the
West Jersey and Seashore Railroad by the ferries
as well as by the al-rail connection via the Del
aware River Bridge.
When the So, eco. coo of four per cent Equipment
Trust Gold Bonds issued by your Company in
1889 it was provided that. should 1t he found i'm
practicable to retire the same through the Sinking
Fund pledged for their redemption. such fund SHOULD
be applied the purchase of additional equipment
to he also held under the terms of the Trust. As
the bonds had twenty five years to run. the object
of this provision to guard against the deprecia-
tion naturally occurring during that period and In
TO the holder of the securities the continued
possession by the Trustee Of cars fully equal in
value to the obligations outstanding against them.
The original equipment. and the additions thereto
amounting to 101S cars. having heretofore been
carried at cost voIr hooks, II has been deemed
wise to reduce their value to that Of the original
equipment. ard the excess has therefore been
charged against your Profit and Loss Account
There has also been charged against your Cen
eral Profit and loss Account the cost of the stock
held by you I'm the Summit Branch Coal Company.
ills property having been sold under foreclosure
proceedings by the mortgage bondhoders The
condition of this property and the increased ex-
have made its future very problematical. and it
deemed wise to reduce the valuation Of its
securities in your accounts accordingly
qhc Board record with regret the loss by death.
Pure hasing Agent. Mr.. A. w. Sumner Mr.. Sum
had been connected officially with that depart
ment since June 1st. 1883. having been Assistant
Purchasing Agent from that date until Decenbar
LIST, 1893. when he was promoted TO he its head.
He performed the responsible duties deyolvi1g
end possessed the thorough confidence and regard
of his associates.
Under the revised organization Mr.. Charles
A. Chipley wss. March 10th. 1897. appointed
and Mr. John b. Thayer. Jr. General Freight
Agent. in charge IF through traffic.
condensed General Balance Sheet of the Com
pany is hereto appended.
Tie Beard thri, acknowledgements 70
the officers and employees for the fidelity and
efficiency with which they have discharged their
duties during the past year
the Board.
FRANK THOMSON. President