The sun. (Wilmington, Del.) 1897-19??, 1901-01-15
RAILROAD
DIRECTORS
p, w. & B. Stockholders Elect
Three Wilmingtonians.
GLOWING REPORTS FOR YEAR
President Cassatt Pleased With the
Management Of the Companys
Affairs and Compliments the
directors.

The stockholders of the Philadelphia.
Wilmington x Baltimore Railroad Co.
held their sixty-third annual meeting at
loon yesterday in the office of Superin-
iendent Barnard ut the French street
station in this city. The meeting was
presided over by Wee President J. z.
ireen and the following directors were
,lected: Alexander j. Cassatt, William
Sellers, John l. Green. Benjamin +.
newcomer, Skipwith Wilmer, Edward
lloyd, Il Tatnall Warner, German Ii.
Iunt y. Parker Shortlidge. Preston
.cn, John Cassels, Charles Il. Pugh,
William II. Barnes, Sutherland NJ. Pre-
ost, Samuel Rea.
At the subsequent meeting of the di-
'ectors the following officers We're
'lected: A. J. Cassatt, president: John
;. Green, vice-president; Charles Il.
ugh, second vice-president; s. NJ. Pre-
ost, third vice-president Robert w.
smith. treasurer: J. b. Hutchinson,
eneral manager: Il. II. Brooks, general
uperintendent; Lewis Nelson, assistant
ecrctary, and also the remaining general
tiicer of the company.
The report of the directors for the
ear ended October 31st, 1900, showed
he milage of the system to as follows:
Road owned, 117.37 miles; lines opera
ed.-Baltimore Il Potomic railroad, 1920;
Washington Southern railway, 1885;
Philadelphia & Baltimore Central rail
Dad, S0.37: Philadelphia 4 Delaware
'ounty railroad, 11.S9; Delaware rail
,ad, 224.3S; Delaware, Maryland & Vir-
ina railroad, 9753; Junction railroad.
| 76 Elkton Il Middletown railroad, 0.33;
! 1tai mileage operated. 552.93; total mile
20 owned and operated. 67O.S0.
| The gross earnings from passenger,
| raight and express traffic, transporta-
| IN of mails. rents and miscellaneous
| ,urces amounted to $11.324 ,531.S0, as
| ,ainst $1OS92, S06.S2 fer the preceding
car an increase of S931,724.9s. The eY
anses for the same period amounted to
'.7SS,900.10. as against S7.2S9 .156.z0 for
st year, an increase of s549.743.70. The
1t earnings amounted to $3.535.63170-
against s3153,650.42 for the last year.
II increase of S3Si.SS1.2S. Kidding IN
crest. exc. the gross income was ST.
(5,124.06, as against s3.e1452s.39 for last
aar. an increase of s4SO.595.67. De
actions make the net income s1,730. $685.
:, as against $1.5G0.77S.52 for last year,
increase Of s170,219.94
] The board. through President A. j.
'assatt. made the following report:
Your system shows Il marked in
rease in gross earnings in all depart
,ents of traffic. the gain from freight
afiic for the year amounting to $506.-
9.56 and from passenger traffic S359,-
5.17, the total gain in gross earnings
ing s931.724.sS. The gain in the for
an, Inn ~ nnl,y 20 tba lar
,uount Of business interchanged with
onnccting lines and to the continued
"velopmsnt of the local traffic. but also
a substantial measure to the improved
nit crop on the Delaware Penincula.
he expenses. however. were largely in
pused in MI departments. After pro-
ding for fixed charges and payments
the sinking funds, and expanding Il
aasOnable amount in the revision Of
rades and alignments. there remained
net income OF 1,730 99S. As. being an in
rease as compared with the preceding
ear of S170219.94. After payment of the
'gular dividends of per cent. there was
balance of 1908 ,64396. which was trans
erred to the extraordinary expenditure
und, and will be applicable to the i'm
rovcment of track and passenger equip
tcnt and the removal of grade crossings
Chester. Wilmington and other points
pon Your line. The profit and loss ac-
cunt was increased by cash ana securi-
'es received from the sinking fund
which had been provided for the re-
empton of pcr cent. dehcntnre bonds.
earring date April lst, 1900, and wera
aid out of your current revenues.
'tinder resolution approved by the
tockholders, the necessary steps Were
aiken to establish pension department..
aking effect January 1st. 1900, undo-
"hich certain specific allowances will he
aid to employees superannuated by rea-
on of age or physical debility. The
umhcr of employees receiving the hene-
t of the pension department October
LIST. 1900 was so. the payment on ac-
ouat thereof for the 10 months in which
I had been in operation being $16.415. 81. !.
which is well within the maximum of
10000 per annum, to which the liabiity-
4 the company in this respect is limited.
During the year eight engines OF
'cavier type were built TO replace old
locomotives destroyed or sold. and 2S
>oN, S3 gondoln, 23 fiat. and four cahin
al's were built to replace similar cars
old or destroyed. Six passenger coaches.
If standard design. 13 combination cars.
iiiu hNe DHSSuge anu express and two
mggage and mail cars were built to re-
lace old cars sold or destroyed
''The Delaware Railroad Co. shows \
continued increase in both gross and
net earnings, the improved peath crop
md greater volume of traffic received
from its southern connections having
largely increased its surplus. so that
after paying regular dividends of per
cent. and transferring thessum of s1Oe-
600 to the extraordinary expenditere
fund, substantial balance was CARRIED
to the credit of profit and loss.
1T is with deep regret that yor--
board has to record TIL" loss of one Of
their fellow-directors, Mr.. B. r. Com
eggs, who died March 29th, 1900. in his
S1st year. Mr.. Comegys had been a di
rector in your company since 1889, and
while his mfailng courtesy and genial
disposition had endeared him to his
; associates. his high integrity and ability
had won their profound regard"