The evening times., 1900-03-06

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seen this constant reduction without serious con-
cern, or without making strenuous efforts 70 check
the downward movement These Efforts have
met with but little success. and although no
commercial necessity has recently existed for
such reductions and certainly not during the
past year, when the industries Of the country
enjoyed Il prosperity almost unprecedented. and
when the facilities Of the railways were taxed
10 the utmost the fall in rates has still CON
tinued. Had the railway companies not been
able TO meet the diminuti0n IN the ton-milc rate
by corresponding reduction IN expenses, n4sas-
trous results must have followed But there IS
a limit and il cannot be far Of, 20 the possible
lessening Of The cost Of movement. The only
alternative is 10 arrest the reduction IN revenue
which has been largely brought about by ap-
parcntiy uncomfortable conflicts between the rail-
way companies. and between rival communities
IL must De admitted that the situation IS COM
pliCatod. The problems involved in dealing with
traffic questions covering vast a territory, and
sleCtiug many diversified interests are trouble
some and intricate, but they are mol incapable
T of solution and 10 Is believed that by earnest
and united effort the difficulties IN the way may
be met and over -Imc. With this end in view.
and TO establish closer relations between the man
ayers of the trunk lines, IL has seemed wise TO
your Board 20 acquire an interest IN some Of the
railways reaching the seabOaTd, and 10 unite
with the other shareholders who control those
properties in supporting conservative policy.
This WILL IL Is hoped. result in securing reason
able 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 indirect benefits thus sought TO
De gained II is believed that these holdinEs will
a. investments be directly profitable.
The contract with the Pullman's Palace Car
Company, under which il equipment was run on
your passenger trains, being about 20 expire, q
new and satisfactory agreement was concluded
with that Company, taking effect January ], 1900.
and running for hftcen yeaIs under which ma
teral saving m expenses viii lnurc 10 your benefit.
The two ferry companies operating between
Philadelphia and Camden were consolidated dur
ing the last wear into the Philadelphia and Cam
den Ferry Company, thus securing more eco
HOmiCa and effective service, ard fur nCr strength
sniug the financial condition Of the property.
After careful consideration for number Of
ysIIs. a Pension Department has been created.
having for its object the retirement from service
OF all officers and employees who nave attained
the age Of seventy years. or who, being between
the ages Of sixty-hve and seventy years shall
have been thirty years in service and BE- physl-
cally disqualified. The pension allowance y haS'd
uEon length Of senice and average pay during
the ten years preceding retirement and the
sum of S23O.ppO per annum b. fixed IS the maxi
mum amount q the Compauy's annual payment.
ln connection with the establishment Of this
department, the Relief Fund assumes the pay
ment % an BENEFITS to its members, and thus re-
I lieycs the Company from the annual di,burse,
mCnt ~ considerable sum heretofore pad out
/ Of its treasury 10 employee who, having received
benefits from the Fund for over hfty-tUo weeks,
. had Uo longer any claim thoreupon-
IN order 90 insure as far as practicable that en-
ploHes shdu possess the physical qualihcati ions
necessary for the performance 81 their duties. il
has also been determined that, except in certain
specified eases where the interests of the Com
3 pduy clearly require lt, no person who De- over
+ thirty five years OF age shall be- taken into the
service Resolutions covering the 1C ION Of che
Board concerning these matters viii o. presented
with this report for the action o. the share
/ holders
In consequence 81 the adoption of the pension
schedule MT- Geouge N. Ball. Chief Con
veyaucer. and Mr. j. A. Anderson. Superintcnd
cnt ot tle Relief Department. both long and
. hOuUTlb.y connected with the lines Of vCur sy-
. TEN, were placed ON the retired list, January J.
1900. Mr.. Ball had been associated with thi
Transportation Traffic, Legal, and Real Estate
F. Departments Of the Company for over thirty-cEhi
years, and In his position especially Chief Con
. yeyIncrT had rendered invaluable service in solv
iug the many complicated questions affecting the
titles Co your property Mr. Anderson had been
over fifty years Iu service. from h.s employment
iu ls4s a rudmJu in the location Of the Bel
Vdyre Delaware Railroad 20 ms promotion iT
3 1872 Co De Superintendent of That Division. his
. appointment a. Superintendent Of the Voluntary
Relief Department IN January. 1886. and his serv
. ice such until bis retirement. he had had
practical charge Of the administration of that De
. Uartmeut during that period. and had performed
. the eNactiuE duties growing out o. the diShUrse
meut oi a amounting yearly 90 about
threc-quarters Of a million q dollars, with sigma
. ability and success
Mr. HOLMES ID. Fly was promoted % De- Superin
tendeHJ Of the Voluntary Relief Department, ans
Mr. Matthias Homer Assistant Superintendent
thereof The Office Of Chief CouveSAnecr haviug
Estate Agent created. Mr. Benjamin ". Clrskld
don wa, appointed 90 the latter position.
The Board have Co record the death oi one 81
their oldest and most honored members. Mr
I Alexander Biddie. on May 2, lss2 Mr.. Biddl
had been a Director oi the Compabg since Marci
q. 1874. and during his long connection there
with had given 10 the benefit Of his wise COnse.
. ripe Judgment and long experience. HIS stain
I less integrity. conscientious discharge oi duty
I and high courage won for him the warm regar.
q his associates, who lost a valued colleague au,
. true friend
Mr. r. Dewitt Cuyler was elected a member o.
/ the Board, May 10. ls,a, 20 Oh Jhe yacauc,
Z caused by Mr. Biddle'S death
On the 9th % june The Company also lost o.
death its President Mr.. Prank Thomson. !n thi
: j-rh wear Of his age. Mr. Td0m>,u-s inuas,
/ winch was contracted while inspecting the line
of your Western system, may thus seem Co hav
I httlngy closed a career devoted 20 your service
Having entered the shops az Altoona al
apprentice when hut seventeen Y0aTs old. he had
with the exception Of the period spent in th
Military transportation Department Of the Gov
/ cTHment during the civil war. given his sCtIv
life 10 the Company. Appointed as Superiutend
ent OF the Eastern DIVISION Of the Philadelphia
land Enc Railroad Iu 1864 he was successive
Superintendent OF Motive Power of your Com
pduy, It's General Manager. Second and First Vic
President until February 3, lsy-. when he va
elected President. His connection with tire Trans
pOrtatlon Department marked By a master
OF the problems connected with the improvement
Of the motive power and the establishment Of
tenanCe Of track: while his duties as Chief Of th
Traffic Department, and in direct charge Of IL
relations with connecting lines had espeCiali
fitted him 10 meet the complicated questions grow
ing out OF the competition OF rival and cun
ficting interests Mr. Thomson was untiring j
the performance of duty. and in placing on recon
their appreciation Of the exceptional ability
sound Judgment, and fidelity with which he per
formed the trusts COnided 10 him, the Boar
desire also 10 pay deserved tribute 20 the charm
ing personal traits that won the affection an
esteem of his associates.
Mr. Alexander j. Cassatt a member Of YOU
Board was, the 9th Of June. elected Presiden
O TO succeed Mr.. Thomson, and Ar james McCre
was elected 10 MI the vacancy IN the Board.
In accordance with the revised organizatio
adopted June a. the Office Of First Assistant
the President having been abolished, Mr.. Samu'
| Res elected an additional member Of Oh
Board 20 act As Fourth Vice President
/ Mr.. Charles A. Chipley having. on the lst
! May, after nearly twenty years Of faithful an
I eNacting service in the Freight Department
[ the Company resigned his position as Gcneri
/ Freight Agent IN charge Of local traffic, and a
organization having been further amended Nj
, John B. Thayer, ir-, was appointed Gener.
Freight Agent. and Mr.. George d. Dixon, ASsis1
ant General Freight Agent.
AR William J. Latta, who had been connecte
with the Transportation Department Of the Con
pany for nearly thirty years, and had filled q
responsible position Of General Agent At Phil.
delphia since July !, 1883, with signal abilii
and advantage TO the service. iaVing resigne
August 81, lS99 TO engage in other pursuits IN.
position abolished. and the Jurisdiction
S Mr. d. II. Lowell, Superintendent Of he Philade
phia Terminal Division extended 10 embrace 4
{ duties formerly dcv0lving upon the General Agen
Mr.. A. J. GIlhngham was appointed Audit,
Of Passenger Receipts, November /; Mr. Samu
Anderson. Assistant Auditor Of Passenger RCceipt
Mr.. Henry c. Mckeever. Assistant Auditor
Freight Receipts; and Mr.. Edward 4. Stockton
e Assistant Auditor Of Disbursements
Z Provision having been made for two AsSiStal