The Wilmington daily Republican. (Wilmington, Del.) 1890-1902, 1901-01-15
GLOWING
REPORTS.
Three Wilmingtonians
Elected Directors OF the
p. W. & b.

| The stockholders OF the Philadelphia
Wilmington L. Baltimore Railroad Co
held their sixty-third annual meeting u
noon yesterday in the Office of Superin
tendent Barnard at the French stree
station in this city. The meeting was
| presided over by Vice-Presidcnt J. Z
| Green and the following directors were
elected: Alexander J. Cassatt, William
Sellers, John + Green, Benjamin II
| Newcomer, Skipwith Wilmer, Edward
Lloyd, Il Tatnall Warner. German ii
Hunt, N. Parker Shortlidgc, Preston
Lea, John Cassels, Charles Il. pugh
William II. Barnes, Sutherland NJ Pre-.
vost, Samuel Rea.
At the subsequent meeting Of the di.
rectors the following officers were
elected: A. j. Cassatt, president; John
=. Green, vice-president; Charles II.
Pugh, second vice-presdent; S. NJ. Pre-
vost third vice president; Robert w.
Smith, treasurer: J. Il. Hutchinson,
general manager; Il. f. Brooks, general
superintendent; Lewis Nelson, assistant
secretary, and also the remaining general
officer OF the company.
The report of the directors for the
year ended October 3lst, 1900. showed
the milage of the system to as follows:
Road owned, 1877 miles; lines opera
ted-Baltmore & Potomic railroad, 1920;
Washington Southern railway. 1885;
Philadelphia T. Baltimore Central rail
road, S0.S7; Philadelphia a. Delaware
County railroad, 1889; Delaware rail
road, 224.3s; Delaware, Maryland a. Vir-
ginia railroad. 1888; Junction railroad,
376; Elkton \ Middletown railroad, 0.33;
total mileage operated. 552.93: total mile
age owned and operated. 5000.
The gross earnings from passenger
freight and express traffic, trnnsporta-
ton of mails, rents and miscellaneous
sources amounted to $11.So4, 531 80. as
against $1O.392, SO6.S2 for the preceding
year, an increase Of 1891 ,7249S. The cx-
penses for the same period amounted to
$7,7SS,9O0.10, as against $7.239.156.40 for
last year, an increase of $549, 743.7O. The
net earnings amounted to $3.535,631.7O
as against $3,153,65O.42 for the last year,
an increase Of 1881, 9Sl.2S. Adding in
terest, &c. the gross income was s4,-
O95, 124.06, as against $3.614,52S.S9 for last
year, an increase of s4S0,5g5.67 De
ductions make the net income $1.73o.99S.-
As, as against sl.5GO.77 for last year,
an increase of $17O,21994.
The board. through President A. j.
Cassntt, made the following report:
"Your system shows marked in
crease in gross earnings in NIL depart
ments of traffic, the gain from freight
traffic for the year amounting to $685.
42S56 and from passenger traffic $685.
6l317, the total gain in gross earnings
being s93l,724.9S. The gain in the for
mer was due not only to the larger
of business interrlIanged with
lines and to the continued
development Of the local traffic. but also
in a substantial measure to the improved
fruit crop on the Delaware Pcnincula.
The expenses. however. We're largely in
creased in MI departments. After pro-
viding for fixed charges and payments
to the sinking funds, and expanding a
reasonable amount in the revision of
grades and alignments, there remained
Il net income of $1.73O, AS. being an in
crease as compared with the preceding
year of $17O,21994. After payment Of the
regular dividends of per cent. there was
A balance Of $903,643.96. which was trans
ferred to the extraordinary expenditure
fund. and will be applicable to the i'm
'rovement Of track and passenger equip |
nent and tn" removal of grade crossings |
II Chester Wilmington and other points
lp0n your line. The profit and loss ac-
'ount was increased by cash and securi-
les received from the sinking fund
which had been provided for the re-
lemption of per cent. dchenture bonds.
Bearing date April 1st, 1900. and were !
aid out of your current revenues.
Under a resolution approved by the
tockholders, the necessary steps were
AIKEN to establish pension department.
aklng effect January LIST, 1900, under
which certain specific allowances will be
aid to employees superannuatcd by rca-
on of age or physical debility. The
lumber Of employees receiving the hcnc-
il of the pension department October
LIST. 1900 was 80. the payment on ac-
oult thereof for the 10 months in which
had been in operation hcing s16.415.91.
which Is well within the maximum of
10000 per annum, to which the liability
the company in this respect is limited.
during the year eight engines of
cavier type were bnilt to replace old
locomotives destroyed or sold, and 2S
OK. 80 gondola, % fiat, and four cabin
airs were built to replace similar cars
Old or destroyed. Six passenger COACHES
standard design. 10 combination cars
nd five baggage and express and two
aegase and mail cars were built to re-
lncc old cars sold or DESTROYED
1.-THE Delaware Railroad Co. shows n
increase in both gross and |
ct earnings, the improved peach crop
nd greater volume of traffic received
ON its southern connections having
rgely increased its surplus, so that
fter paving regular dividends of pcr
mt. and transferring the sum of $780,
10 to the extraordinary expenditure
md substantial balance was carried
the credit of profit and loss.
ut is with deep regret that your
'nrd has to record the loss Of one of
Icir fellOw-dircctors. Mr.. b. b. Com.
;ys, who died March Goth. 1900. in his
st year. Mr.. Comcgys had been d.
ctor in your company since 1859, and
lille his unfailing courtesy and genial
sposition had cndcarcd him to his
sociates. his high integrity and ability
id won their prnfoluJ rn,,orJ !