The evening times., 1898-03-01
Balance TO credit Of profit and loss
December 3ist. lso5 ........... 50, ,s2s, ,9j6 9s

SINKING FUNDS
Under the provisions of the consoli-
dated mortgage of the Company. 1924 $50
We're 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 S5,3l9 9JS.41 in securities and
cash i'm 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 $l36, 400.
The trustee was unable to obtain any OF
the bonds at the price fixed in the lease.
and i'm accordance with the terms there
of the whole amount has been invested
in additional equipment.
SECURITIES OF OTHER CORPORA
TlONS.
The entire cost Of the securities of other
corporations. including real estate mort
cages now held by your Company is
SlI9 G53 5i2e1 The direct revenue re-
ceiyed therefrOm was A.61G 2l5.Si. which
amounted to nearly four per cent upon
their cost, and more than provided for the
interest on your funded debt.
CAR TRUSTS
No further issues of these securities
standing certificates of Series A. &C"
D. and "E," of the Pennsylvania
Equipment Trust were paid and cam
celed. These series covered 1852 hopper
gondolas in service on the Pennsylvania
Railroad: loo box cars. subleased to the
Pennsylvania Company; l.255 gondolas
subleased 10 the Northern Central Rail-
way Company; and 5l6 box. 109 gondola.
and 800 fiat cars. subleased TO the Grand
Do,
representing in all 1854 cars and total
cost of S4Oc0, 600. These ears have there
fore now become the property of the
spective lines which contributed to the
cost thereof.
The total number of cars provided un-
der the Car-trjIst system is 5I997.
Total amount of certificates issued
therefor $50 Ga. 900 90
Amount redeemed. cd.................. 2.,sj2.0OD 20
Balance Of certificates outstanding
December 3ist. lSi5.............. S2.s2. 600 20
There were no charges to capital ac-
count during the year except for equip
ment. This expenditure amounted TO
SS2l, I3I50, 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 20, J62. 40. an in
crease of 6,595.340 or 9.0i per cent; the
number Of passengers was "a, 1924 a de-
crease of liz. $50. or 3.24 per cent.
The other Railroad Companies east of
Pittsburgh and Erie I'm which your COM
pany is interested show generally i'm
proved results. Detailed statements of
their opera tions will be found in their re-
spective annual reports. as well as in the
pamphlet report of your Company.
LINES WEST OF PITTSBURGH.
On the lines west of Pittsburgh oper-
ated by the Pennsylvania Company and
the Pittsburgh. Cincinnati. Chicago and
ST. Louis Railway Company the results
were as follows:
Earnings of Pennsylvania Co... 20.2o5.670 u
Expenses l2,I75,GO0 81
Leaving net earnings. SS.05o.O69 -
Rental, interest otc-.-.........,... 1,O66,sOi "a
Net profit on Penna. Co.'S lines. S9s3. Ie5 "a
Earnings of Pittsburgh, Cincinnati.
Chicago and ST. Louis Railway. sl7 III ai2 Is
Expenses l2,llI,U3I IS
Leaving net earnings. s5.657 9O7 30
Rental, interest, etc....,......... 4,ls7, ,203 25
Net profit on Pittsburgh, Cincin-
natl, Chicago and St Louis Rail-
way COmpany's lines............. s1.47O.7 ga 81
Net profit on lines directly operated
west Of Pittsburgh. ............... s245S, 500 IS
The other lines west of Pittsburgh. on
account of which your company has as
sumed direct obligations or in which ii is
largely interested through ownership of
but which are operated |
through their own organization show |
the following results: |
The aggregate gross earnings OF
these roads were................. Sc 267. a.
expenses 4,S94 0Sl 81
|
vet earnings. 81, l,S7S756 Is
Deduct rental, interest, etc..... ], ,53I ,93J SIS
,oss S16i179 73 |
y this loss the PENNSYLVANIA Rail-
road is responsible for. r........... Sll727 "a /
Which deducted from the profit
shown above. ove................... 2,453 $50 rs /
caves net profit on all lines west
Of Pittsburgh. ACKNOWLEDGEMENTS. So 1885, 5eS 81
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Inc iaNoraple results from the working |