Delaware gazette and state journal. (Wilmington, Del.) 1883-1902, 1899-03-16

The fifty second annual report Of
President Frank Thomson of the Penn
sylvania Railroad Co., says the Phila-
delphia Times, is Of quite as much
interest to those who carefully observe
the business conditions of the country
as to its many thousands of stock
holders. 1t is the greatest artery of
commerce and trade on the continent,
and it is the unerring barometer of the
advance Or decline of business pros
perity. 1t has become SO interviewer
with the great producing and trade
interests of the country that it fairly
reflects all the varied mutations in tho
general business affairs of the nation.
The, annual balance sheet of the
Pennsylvania Railroad Go. must be
very gratifying to all who hold Its
securities and equally gratifying to the
general business interests of the coul-
try because of the favorable exhibit
presented. The aggregate gross earn
ings of its varied lines reach the enor-
nous sum of Sl32, 500, 470, resulting
from the transportation of 173, I9l, 239
tons of freight and II, 202, Cos pas
sengers. In both IT'S freight and pas
senger traffic the business of the last
year exhibits very gratifying increase
over the previous year. II
The financial statement of the COM
pany shows that after paying all fixed
charges of every kind, paying five per
cent in dividends, applying nearly
$500, 600 to the sinking and trust funds
and nearly 100000 to extraordinary
renewals, there is a net cash profit OF
S842, S52. "a to be transferred to tho
profit and loss accounts for the year
1898, making the aggregate surplus re-
serve of the corporation s22, 4d5, 996. 60.
Considering that there are old-time
business men yet living in philadel
phia who thought that they had Mt
tanned marvelously cheap rates when
competition brought out the offer to
carry freight between Philadelphia and
Pittsburg at the rate of 50 per hundred,
or about 1926 per ton, the announce
ment made in President Thomson
report that. the average rate received
| by the Pennsylvania Railroad Co. for
its freight traffic during the last year
| was A. 80 mills per ton per mile, making
the cost Of transportation per ton be.
tween Philadelphia and sPittsbure
s1.75, is startling exhibition of oul
railway progress.
|
reached by the railroads of the country,
and only by the completeness OF the
facilities of our great railroads OF today
could freight be transported at such
rates with profit. The tendency in
every branch of business today is
towards cheapness of production, anc
the Pennsylvania railroad corporation
stands out as an exemplar in accom-
plishing the largest results with thu
least outlay, and without making thu
economies of the organization fall upor
the wage earners. The best results ar,
attained by that company because il
every department it is thoroughly
methodical, progressive and maintains
the highest measure of discipline.
The service system of the Pennsyl
vania railroad is the best that is main
tanned in any corporation of this coun
try or of the world Every man promi
nently connected with it today has woI
his position by merited advancement
All of them have started at the lowe
round !of the ladder, the president him
self being a graduated apprentice O
the machine shops of Altoona, and /
is the assurance of promotion accord
/ ing to merit that inspires all of tn,
scores Of thousands in its employ /,
give the most effective service to til,
corporation. -
1t has always been free from til,
control OF speculative interests, ant
the fact that its shares sell at ,
premium, of from Sl8 TO $50, or nearl,
$40 on the hundred, is the best eyi
dence of the settled confidence in RI,
ability and integrity Of the MANAGE
ment cherished by the holders Of 1t
securities, who embrace every elias
and condition Of investors. VI
La seasons of prosperity every physi
cal feature of its lines is developed /,
the highest degree of perfection, an,
when business revulsion comes II i
always in a condition to adjust itself
to the reduced trade by suspendin,
betterments without impairment Of tn
efficiency of any part of the oreani
cation. 1t is the model great cor
} poration of the world, and las sue
Pennsyivania may justly point to
with pride as wholly of Pennsylyani
| achievement.