New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1900-03-07
PENNSYLVANIA'S REPORT.

The PENNSYLVANIA Railroad Company's annual
port makes interesting addition to the current
of evidence bearing on the business property
of the country. The Pennsylvania system has been
prosperous And it's progress is a faithful testimony
of the industrial activity throughout the coun-
try, as the company's traffic is representative of
many varied industries and trades. Ably managed
and favored by the good times" that are so gen
eral throughout the country. the Pennsylvania has
been able to return for a full year the enormous
gross earnings of S2.9000o0 on the lines east
of Pittsburg and $50 9S6, S27 the lines west of
Pittsburg, including the earnings of the Pan
handle system. which amounted to s21196,Sl7 The
gain over 1898 in gross and net was heavy. The
actual gain in tonnage on the lines east of Pitts
burg and Erie nearly 100000 tons, an amount
greater than the whole tonnage moved over the
same lines in 1875 in any year preceding 1873
Owing TO the liberal and judicous expenditures
made in recent years for improvements the COM
pany able to move a volume OF trafflc OF I'M
precedented proportions The Pennsylvania system
handles enormous amounts of steel. iron and COAL
and the following interesting comments regarding
the future of this traffic are reprinted from the an
nual report:
The general business of the country may be ex-
pected to in the as IN b the
such large proportion of your tonnage, are en-,
t tie spp dgGn the home demand but able to
pete successfully in the markets Of the world In
f fhe pub na and its oSlas
will be to fSnHIs to be eon
servative policy heretofore pursued and which has
part of the money for such expenditures should
be taken from current income but portion must
is of the opinion that within tqdeious limitations
Of ofe shares than BY adding funded debt
and, there are only about ssVoOo OF STOCK
per centum which has Recently been made, 1T viii
be necessary to increase the amount Of your au-
thorized capital stock
In studying the results obtained by the Penn
sylvana the fact should not be 'Ost sight of that
the record made despite reduction in the
average ton-mile rate. For years the trunk hnes
have suffered from declining rates for freight
traffic, and while at the moment much improve
ment is noted the general rate situation in 1889
was far from satisfactory. With but enc excep-
ton in each year since 1889 the Pennsylvania re-
ports reduction in the ton-mle rate. In 1883 the
average a ton mile 0.eS6 cent. while last year
it was O473. the lowest point ever reached Re
garding efforts making TO remedy the rate situa-
ton the report says
AS may be supposed railway managers have not
this constant reduction without serious con
the downward movement. These efforts have met
necessity has recently existed for reductions
and certainly not during the last year, when the
industries of the country enjoyed prosperity al
most unprecedented and when the facilities of the
railways were taxed to the utmost the fan in
panes not been able to meet the diminution in the
penses disastrous results must have followed. But
there is limit and it cannot be fas off to the
only alternative is to arrest the reduction in
nue. which has been largely brought about by ap-
parently uncomfortable conflicts between the rail-
way companies and between rival communities.
1t must be admitted that the situation is compli-
Gated. The problems involved in dealing with traf-
1c questions covering vast territory and at
fecting many diversified interests, trouble
some and intricate, but, they are not incapable of
solution, and it Is believed that by earnest and
met and overcome. With this end in view, and to
establish closer relations between the managers
of the trunk lines ii has seemed wise to your
Board to acquire interest in of the rail-
ing I'd and n tito Nth he
other shareholders who control those properties in
supporting conservative policy. This will II Is
hoped, result in securing reasonable and stable
rates and do away with unjust determinations
that are the inevitable results of the course that
has heretofore been pursued Aside from the in
direct benefits thus sought TO be gained II is be-
lieved that these holdings will as investments be
directly profitable.
The results of the entire system, east and west
of Pittsburg including Panhandle and Grand
Rapids and Indiana show:
Increase
lSrnss