The sun., 1901-03-08
THE GREATEST CORPORATION
Interesting Bit Of History About the
Singular Beginning Of the Penn
sylvania Railroad Company.
From the Philndelnhin Wines.

From the Philadelphia Times.
The annual report just issued to the
stockholders of the PENNSYLVANIA Rail-
road Company by the officers Of that
corporation, exhibiting gross earnings OF
over s17O, 900, the largest net prohts
of any year in its history, recalls the
wonderful progress that has been made
| by this organization. 1t is now the
greatest railroad system in the world
and has made it's remarkable advance
ment with fewer mutations than any
other great railroad property OF the
country.
The Pennsylvania Railroad was hardly /
dreamed of until 1S45. when the Baltl-
more and Ohio Railroad asked the Legls-
luture .of this State to give 1t the right
OF way through Pennsylvania to reaeh
1.-The West. The movement contemplated
the utilization of the Cumberland valley
Line, then partly abandoned ana IN Sc
we're financial straits, and to extend west
ward on the line OF the Colinsville Road.
i mere was ut first but little opposition
70 the bill granting the Baltimore ana
Ohio Road the right Of way, but Jolly
and genial canal packet captain, VINO
: spent his idle winters III Harrisburg ana
| made Il scant living by occasionally pick
ing UP few dollars III the legislative
lobby, decided tb"t the Baltimore ana
. Ohio Road should pay some tribute Ill
: obtaining the privilege that then seemed
I would be certainly granted. lie drew
dill for the incorporation of the Ienn-
4 syiyania Railroad Company without con
!, sulting any one, and had 1t introduced
in the Legislature, not dreaming that II
I would precipitate one OF the bittefest oi
II our legislative struggles.
# Philadelphia was somewhat aroused on
the subject, and when Charles Glbbons,
: then Senator from Philadelphia and
/ one of the ablest and i'll every way most
10 promising young politician Of the State
< adhered to his early promise to support
+. the Baltimore and Ohio Railroad right
: Of way, he was burnt III ciligy in this city
" and became involved in an angry cores
:. pondence with Judge Conrad that ended
10 in Il challenge to Il duel The result OF
u the contest, so inuoccntly started by the
petty lObbiest, was the defeat Of the
E right of way for the Baltimore and
IL lio Railroad, and thu following year the
IN bill for the incorporation of the Ienn-
-, sylvania Railroad was carefully prepared
by those who were earnestly enlisted III
i' its favor and passed by the Legislature
Such was the beginning of the rail.
III road corporation that is today the great
!, est and strongest Of any in the world
=, We can recall Il visit TO its president
~ when his Office consisted Of double rooms
as ON the second floor Ut a building and no
of dozen Of employees all told immediatel,
~ connected with il. Today its great TEN
pie on Broad and Market streets is
" ive Of industry with thousands of mel
J! employed, and il has just added an ol
posite square for proper facilities for it
immense business. It's revenues are noN
more than three times greater than tn
10 entire revenues Of the national govern
olt ment when Abraham Lincoln was elect
~, ed President, and ii is today stronger
puunc thtn at tfTtS- tfnie III and I'll
the tory
'Ir. The policy of the Pennsylvania Raj
ta road has been TO create its own men. il
-, first great president, J. Edgar Thomso
''' was promoted from the position of chi,
ltl- engineer, and country stockholders vote
Tho almost solidly for him because it WI
,m. urged that he could ill the positions
president and chief engineer and thu
- economize the expenditures of the co
De poration TO the extent of $1,000 annual
yer Under him began the wholesome syste
,ro. of training men for promotion on the
,., merits. The late Colonel Scott, who su
ceedcd Thomson as president, left
$l,2OO clcrkship under Collector Gun
inings on the Columbia Road when Il
i, main line was sold to the Pennsylvan
'he Railroad, TO enter the service of the co
ure poration, and he rapidly won his way /
ion from being local superintendent of 90
low struction to general superintendent, VII
president and president. 1t was his &
are MUS that conceived and laid the bros
the foundation for the present grandest
ent all railway systems that is controlled |
tbe the Pennsylvania Railroad.
Mr.. Roberts, who succeeded Scot
iese earned his position by exceptional usefl
OF ness III the engineering department, al
rty, the late Frank Thomson began his ra
We ro"" career as an apprentice IN the a
49,. toona shops of the company, while NJ
'n's Cassatt, the present chief of the corpor
mo- ton and today the ablest railroad IN;
nay Of the world, began his service in Il
company as Il rodman.
Tie PENNSYLVANIA Railroad corporati,
has been for many years not only Il
ical great artery of trade and traffic, but Ii
Bile been the unerring barometer OF the bu.
,o,.. ness conditions of the country. When
mas presented a gratifying balance she
~ II clearly indicates that the country
the prosperous in all its varied channels
aw. industry and commerce, and when j
dod 'mlahce SHEET presents severely reduce
expenses and diminished trade it simp
iteu proclaims the stagnation Of industry al
who severe depression in every circle Of pr
heir fiuctlon. It's balance sheet Of today
~, The most remarkable of its history al
exhibits quickening of our industri
- ana commercial interests entirely une
ampled in the history of the nation. /
balance sheets have always been homes
~ and frankly presented TO the publ
'es' ana the reckless speculator and the ra
road wrecker have ever been strangers
the circle of its authority
The present conditions have been pr
pitious for man of President Cassatt
u exceptional breadth and courage to pla
VIZ Tho the Pennsylvania Railroad corporate,
nv, NO. IN the most enduring basis that it hi
iNe- had since its organization. Its peril hi
o,' always been the cutting of rates by wef
~ companies which had no credit to mai
ny tam, but that greatest of all dangers
'crs tins great enterprise has been substa
au- tally averted, not only for the presel
ven but the future, by Interviewing the inte
hSc pStS of the solid trlnls limos with ~