Evening star., 1901-03-05
;;TST

these expenditures the sd& OF s.oo6 900 has been
set aside out Of the ,nsst9s Of the year and out
A new and commodious passenger station is also
much needed at camdes y. = to accommodates
local territory tributary TO- your Amboy Division
and work thereon is now s.S IL Spsogsrs:s 2,
ton it Will be necessaryt tS elevate Il passenger
tracks in Chester and Wilmington. and increase
ar' sour line through WasIssn must be SO rsvised
sen nM
erected over the Fotematsf Eiver.
is necessary to push forward vigorously the COM
pletio1 Of your system
terminal facilities tie at ySiSgs points, and for real
synopsis the List of!seeuriies in the Annual
| Report will show the interests acquired during
temporary coiiateral Obligation issued in payment
therefor. The results OF these investments have
OF the bonds issued under the General Mortgage
Company bearing date April 10th. 1871, IS ESQ oOO
bearing 9 per cent interest IN matuIsd .h March 1st
secured by the same mortgage and maturing March
the property and under its provisions the amount
of bonds outstanding may at al times he equal to
The 81 900. 900 of your y per cent. Navy Yard
bonds. which matured January 1st, 1901, were
ssrss for Of 50
bonds. amounting to 500 900 and issued under its
u 18th ast mortgage Wss
for 81 900 600. to provide the funds necessary to
like f an amounts @ maturing Annually until September
18th, 1904. The bonds secured by this mortgage
A per cent interest and run for thirty years
Az opportunity having offered to ACQUIRE the
Ws New thy York
system and the city Of Bhffalo, through the pur-
chase of its income bonds; and stock, the same
occupies exceptional, position in connection
with the commerce of tns great lakes. and will
cure this road. connecting link for the large
that city over the other lines in your system Its
direct connections herewith are at Emporium on
the Allegheny Valley Railway, and New Castle a
prosperous manufacturing centre the Erie and
Bualo to provide the terminal facilities necessary
Under sses dated August 1s isoo this road
and the Allegheny Valley Railway. which has been
fr s @ Is
Tsa are now operated ed as as the Buffalo and Allegheny
A purchase has also been made Of a controlling
interest in the stock Of the Long Island Railroad
Ing through that island and reaches maj many s fiour
fishing towns and attractive seaside resorts. This
property Will come into your ownership in the early
the bridges and tunnels now projected and under
construction. between the sections of greater New
York divided by the East River, will SO increase
Its business as to make your Investment In its
shares directly profitable Advantage is being taken
Of the exceptionally favorable location of its tracks
in and around the City Of Brooklyn to establish
freight stations. lumber and coal and carload de-
full share Of a traffic whose growth will be large
ly stimulated by the policy which has been inau-
Ing to rates with other-sections of the consoli-
dated municipality.
Long Island Railroad to farm more convenient
connection between your system and that of the
pany. which large. Traffic passes to and from
New England points. 't.' y
of your properties, It iwas deemed advisable on
the 1st of June. 1900, tn consolidate into cor
porsatien entitled d the SebISlkH and Juniata Rail-
Neseopec North and West grapch sunbury. Halle
en Snd and and
Tnhhs Temhcken to Wllkesbarre on he north and via
gregate distance of $50 Hlles and furnishes an i'm
portant highway between the city Of Philadelphia
and the valleys of the srhhykil susquehanna
and Juniata Rivers. The consolidation was made
on conservative basis. and the securities of the
The susquehanna and uesrraeld Railroad. ex-
Erie Railroad at Keatins, a distance Of ss miles
and originally built to- furnish an outlet for the
remuneratlve traffic has been sold to the interests
controlling the Beech Greek Railroad BY the use
% Of sSss evf fs Ph and
McEIhattan, distance of 46 niles. the owners
line for the movement Of their tonnage. while at
the ths same S tim time yomr c9mpany and the Philadel
system.
1t is Tth deep regret that the Board have to
B. Comegys who had been able and valued
Mr.. Comegys' long financial experience had made made
his counsel of great service to your interests while
him to s % al hs hsa
caused by his death. Mr.. Lincoln Godfrey was
1900. ''N' '''' '1 ayr" A''"'
Just Lat after h the close Of the the Company
Sims Who BEEN from 9nn jan
uary 1st 1876, to March 23d, 1881 and then secre
Is seldom that company has % the good S fortune to
have these responsible positions filled by one 50
seSas S isrs t.ans Sa ehs.
clear and quick perception. and devotion to his
impossible. to be associated with him without a
strong feelng OF anectionate regard and the Board
felt by member OF at 1Is s
untimely death.
To al the thus created Lewis Neil
1901 and Mr. A. j. County and Mr. K. s. Green
Robert f. Grof, your former Registrar Of Stock.
having hay on December 1st 1900. been promoted to
Of Of es 1T New qa placed in
Mr.. P. B.. Prince and Mr.. G. Stuart Patterson
were appointed Assistant Solicitors to take effect
February lst 1902 the office Of Assistant to the
Mr. Holmes D. Ely. Superintendent Of the Em-
ployes voluntary Relief Department having died
suddenly on the 25th day Of May. 1900 Mr. Spen-
Ger Meade. formerly Superintendent of the Elmira
and Canandaigua Division Of the Northern Central
created
Mr. G ". Creighton having been appointed Cen
es Vsen M Of the Bs rsIs and
to succeed him as General Superintendent of the
1st, 1900.
Mr.. Theo. F. Brown was appointed Assistant
Auditor Of the Union Line, October 1st. and Mr..
Line. November 18th, 1900
Mr. J. W. Reynolds, for many years superlntend-
ent Of the Western Division of the Philadelphia
and Eria Railroad. having resigned that position.
1901.
The Board renew their Acknowledgements to the
of1cers and employees for the fidelity and efficiency
with which they have discharged their duties dur
ing the past year.
Board
A. J. CAssATT. President.