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

obligations and provide for the renewals and bet
terments absolutely essential to proper nainte-
nance OF the property; and Ii would be greatly to
Its advantage IL equitable basis could be
reached, satisfactory to various interests in
'oived, upon when Its liabilities could brought
More mt accord with Its earning capacity.
The rebuilding OF the aridse UniO River
lsJi asi the Improved Structure furnishes admir-
cole faculties for raii, troiIey, and highway traffic.
NE reconstruction tac passenger station at Co-
Jun" us, oaio, WIS also IfucticaHy competed on
the second day OF July 1881, anu IL 10 now fully
adapted TO the requirements passenger tranic
at that point.
Tine nun,per of tons of freight moved on the lines
west OF fltisourgh was 5i,sUo,O56. an increase Of
9,o-a.3l6. Inc lumber OF passengers WAS l5,oS2,
To, drcr.d,e Of S46.55J.
me srtrss earnings OF al lines east and west OF
Pittsburgh for the yea were S12S, us, 0S6 S. oper
aiins ,xIs.,ites, So ,o4l ,Ua1 81 elrnss,
$40, vj7 .uo4.yJ. increase gross earnings
pared with 1896 OF <4,6so,sls.,d. and in net
OF freight moved. being ir, Of IA 323 ;,OG
tons and u, sis,697 passengers carried decrease
GENERAL REMARKS
1t will be Boted that there increase in the
funded deat Of your Company and chat the obliga-
lions Issued by the Pennsylvania ,JiJpahy were at
the lowest prevailing OF interest," and for the
purpose of redceming seven .er cent. securities
aeout to mature lines forming part Of the
~ stem of that Company.
The report of the Managers Of the Trust created
there has been paid by the Company to December
31st 1891. the sum OF - o55 45o5O that the total
income therefrom has been SIS SIS l46 9s and that
or that date securities amounting at par to
81. 10. 40 were held in the Trust There was
al % @ a., to the Trust for the year 1887 the
This Trust having been in operation for nearly
twenty years. it has become quite difficult to
prr base the securities prescribed by its terms its
operation being now confined to bonds, STOCKS,
OF which the principal or the interest dividend
prior to its creation 1t is deemed wise, there
fore, that its scope shall be enlarged as to in
ttrued efficiency thus assured 4 resolution r.
hat effect Will be brought before the stockholders
at the next al nual meeting the notice required
by the terms Of the Trust making IL necessary Ia
defer action until that time.
~, The assets Of the Insurance Fund at the end
$i23 'o2 70 as compared with 1896
Inc membership of the Employees Relief Fund of
the lines east of Pittsburgh and Erie at the close
OF the A, So the largest since its estnh
hshment. During the year the members contrib-
u,eI na39o'22i, while the Company and its aiili-
ated lines contributed $109 619S9 for operating ex-
Penses ard S45,9239O for extra benefits to inam-
bers whose disability had continued for over 81
weeks, anu WHO were therefore DO longer entitled
to regular benefits from the Fund The total re-
celpts were $914, S9.12, and the balance on hand
sRn s Of the year After
9S90 In cases of disability arising from sickness
anu accident, and meeting all its obligations and
providing for unadjusted death claims a balance of
$oos % remained to the credit of the Fund as
the result Of its operations for the last three years
out OF which must be paid unadjusted claims for
rim. during that period. There will probably he a
sip OF 90 after providing for such liza
tre period of the Fund S616 523 IS
Inc number of depositOrs in the EMPLOYEES S,v
ine r un1 az the end of the year was :,267 an in
1else OF S&3 The amount received from tlepositors
uurins ,Ee year was $419, 424, and the balance in
me fund at the close of the year was 81 93 iii -
VI when SlSOOOOO is invested in securities belr.
ing interest at the average rate OF four per cent
II VIII De remembered, as stated i'm IN, I,sr an
nuii report, that the heavy reduction in Ir,,tc
anu revenue cons Quent upon the depression thereto
tore existing In the commercial and manufacturing
interests OF the country, had compelled the dscon
vi nance OF the greater portion of the work which
was III progress In revising the alignment and
grades OF the Main Line. As n consequence there
o. the large expenditure already made Remained
uhprouuctiSe, and the work resumed until
lions Justified Its continuance 1t has since b.en
Regularly prosecuted at kinzer on the Phladelphia
DIVISION and between Lilly and Portage and from
Sonemaugh Furnace to Nineveh on the Pittslrp
DIVISION While 1t has been finished at Rheems on
the former division, and, except the having of the
track, at Radehaugh on the latter division
In consequence OF the late period in the year at
which ihe work was resumed, large portion there
or still remains to he done. and as further noted
special appropriation has been made for its
speedy completion
In order to facilitate the movement OF trains
over the Allegheny Mountain provision is also now
Icing made for four tracks from Altoona TO Xii
tai ming Point, and for complete three sys
tenn from kittannins Point 10 the east end of In,
Gailitzin Tunnel The widening Of the new Port
age Tunnel and the double tracking of the Port
ag. Read from the tunnel to Cresson have also
been pie ced under contract.
In order to secure the best results from OUTLAWS
OF inns character II Is necessary that the WORK
should. when once begun. be pushed to completion
anu TO that end 1t has been decided create an
BE- set apart from time TO time such sum as can