Evening star., 1899-03-07

ating expenses s93, ,909 329 2e, and net earnings
Sss,9ao 10 15 an increase in gross earnings com
pared with 1897, of 81. 1888 16 and decrease ir
net earnings Of $676,91419. There were 173 791
tons Of freight moved being increase of 14,275
crease of 2,353, ,99S.
GENERAL REMARKS
>, There has been paid by the Company to the
trust created October 9th, 1878 the sum OF
s4 I4S s66al to December 31st, 1885, the total in.
cClne therefrom has been 81 OO9 1S2 40 and on
that date securities amounting at par to s9 $50
We're held in the Trust. There was appropriated
to the Trust for the year 1898 the sum Of 500
0oo9o, and the interest received on securities held
IN the Trust during the year averaged nearly 3-IG
per cent on their cost.
In pursuance of the Recommendation CONTAINED
III III the last annual report due notice has been
gwen 10 the shareholders that vote will be taken
by the Board Of Directors December 14th 1895
ehiafgihg the scope of the Trust SO as to author.
purchase of securities guaranteed by your Com
py psny put also Of the securities of the Pennsyl-
vahia a company or OF securities guaranteed by it.
whether such guarantees have been or shall bo
made or such securities issued before or since the
Greatfon OF the Trust AS already explained this
odncatlon Is essential to Its continued efficiency
by reason OF the increasing difficulty in purchasing
securities issued prior TO the establishment TIC reof
:, ne assets OF the Insurance Fund at the end of
the year were 81 o69 s35 10. being an increase as
compared with 1897, of $751; "a.
Inc membership of the EMPLOYEES Relief Fund
OF the lines east of Pittsburgh and Erie continues
TO Increase and aggregated 45 141 at the close Of
the year being the largest since its establishment
ana an Increase of over 400 members as com,
pared par with the previous year. During the year
Company and its affiliated lines in addition TO tho
payment Of Slos. 9,53 for operating expenses.
6"nsrinqaed cont $50 80 for extra benefits to mem
oels whose disability had continued for over 80
weeks, and who were therefore, no longer en-
titled to regular benefits from the Fund The total
items s93s 714o2 which with saa aa asa as
ad nne balance on hand at the beginning of the year
S2I4.07o. 46 were distributed as death benefts
5eing "a an average in each of about s55D. and
ness and accident. After meeting it's obligation
10 d3r Ihe year and providing for unadjusted claims
mained to the credit Of the Fund ont oS sbcb Lg
must be paid unadjusted claims for benefits grow
ING aSs out of sickness or accident during he year
IsSs. In addition to this balance there is sur
Rius which has accumulated during the life Of the
The number Of depositors in the Emn,ores, sov-
n lne rnna at the end of the year 5,s4b an In
tors nrIs 1 1908 he amesnt 6a reeeyed from dpos-
s2s Is OF this amount, 81 25o 900 has been In
rate OF about four per cent
1t VIII be noted that there has been further re-
aucton IN freight rates the average rate received
per ION per mile being but 80 mills The tom
mage movement. however shows a material goin
as s compared with the preceding year so that the
quite as large as in 1897 while through the Use If
heavier l power and cars Of greater capacity ana
epf-
sequent upon the extraordinary expenditures here
@tolore @ made In the revision of grades and align
OF movement has been reduced to 355 mills ner
ION per mile. The net earnings have therafpra
dend Of ve aa per .Gten aeSt S to pay your regular div
toh 10 the Extraordinary Expenditure Fund ~ tho
fully explained. 90 hereafter more
The charges to capital account during tho vs.r
fafe sfs7 $50 70 S6l e. follows Real Es.
ADDITIONAL Tracks, s7s4 ,os1 AZ S-'''''o'
me latter item represents the cost Of an I'm.
proven ppoteInekt en- which has largely added to the ca.
patty oI your line for the prompt and economic ga
movement of traffic. The double tract mnonti
oyer the Allegheny Mountain and through the
mahds of your constantly increasing trnfic and n
was necessary to add materially to your facilIties
ilrttage tunnel was rebuilt and the Portage Road
dOuble tracked between Cresscn and Rennington oT
your You, Nam Line, distance of about five miles
9 rour uacks We're also completed between Altoona
and kittanning Point, so that with the axean,in
of section about four miles in length between
attaining Point and Alegrippus where three
tracks are in operation, there is complete rnur
track system from Altoona, at the foot Of the
eastern slope to Lilly, the western slope nf thS
mountain, distance of about seyentean n,,Is
separate double tracks being thus provided So,
east and west-bound traffic not only fs sddi1; noi
safety insured. but an alternate ronte nrordad a.
portion Of your line ~ eNl''eo
Through the special appropriot tion Of Q, ooo mn
made out Of the earnings of 1897 Iarsa nortio
OF The work of revising the grades and aIanman.
1a 1a,s the MAIN Lime mat had been commenced I'm
$50 ana temporarily suspended by reason OF tba
business depression existing in the folIowny ,aar
mas mas been substantially completed. This is notably
.ne ease on the western slope of the Alleebeny
Mountain between Lilly and Portage, wbere = say
ing IN distance Of about mile has been effect
ed, and sharp curvature eliminated wjthont In
Greasihs the maximum gradient en- the Pittsburyb
DIVISION This work completes the recopstructien
OF the Main Line between Lilly and Wilmors an
by furnishing three-track system between thns"
points, largely augments the usefulness of the im.
PrTrement % already referred to between Altoona and
(tonap, ,,rl.
Nineveh was further improved aud the tract Iai% I
at A. hadeDaush thus completing the new tunnel and
!lne at mat Important junction. The new line he
tween kinzers and Gordonviiie on the Philadeinbta
DIVISION, was entirely completed thus rednrinc
expenditure was also made In the eouinment IA =,
freight cars with air brakes and automatic conn.
lation, and In otherwise improving yonr mn,;no
power and rolling and floating eouipment NJ in''i'e
Further revsions Of alignment were made. pneu
matte automatic block signals erected between
Latiiner and the junction with the South West
pennsylvania Railway, and other extraordinary ex.
the fund set aside in 1887, an outlay OF sara |.
S5t.9l, as stated above. To'
On the United Railroads Of New Jersey Division
one OF the main items of extraordinary expenditnre
was the rebuilding and enle ergement Of the Jersey
City Passenger Station, which had been damaged
the extension Of the train shed towards the river
'front.' with the view Of facilitating the ferry
block signals s'a. WERE competed utomas
and Holmesburg functions, additional sidings and
yard tracks provided at various points, and further
outlay made for real estate and right of way and
in the construction Of bridges to eliminate grads
crossings on the Philadelphia and Trenton Raii.
road
1t is proposed to apply tn, 81, 800. GOO approur,.
ated out of the income Of 1898 toward the follow
ing extraordinary expenditures:-
On the United Railroads of New Jersey Division
the work on the passenger station at Jersey CITY
will be completed, the new bukhead wall at Des.
brosses Street Ferry, New York, will be finished
and new ferry house provided at that point.
The pneumatic automatic signals will also be ex.
tn Da1r
completing that system on the New York Division
1t may be noted here that the sum Of $3.50 OOC