The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1902-09-03
Superior Advantages

keep it in the best order, with road
bed of the best physical condition. SO
that when the new management TOOK
hold. about three years ago, 1T had an
excellent foundation to work upon, ana
new equipment in the way of heavier
cars and locomotives has been intro
duced to good advantage, and the at
tention of the public has been drawn to
the advantages of the line as route
for passenger travel. 1t is by thirty
miles the shortest route between New
York and Buffalo, and IL the manage
ment cared to subordinate the move
,nent of freight so as to permit extra
ordinary passenger time. it could ham
die the passenger traffic between the
two cities more eXpeditiously than any
other line. 1t now makes as good time
on it's fast trains as the majority OF
passenger railroads.
PROPERTY IS VALUABLE.
While the dividends of the Delaware.
I.ackawanna and Western have re-
mained at the same figure for many
years, recognition of the great value of
appreciation in the capital stock, as In
dicated in current quotations, and
while the exact value of the shares Is
probematical and largely dependent
upon the degree with which the prop
erty is developed and tonnage in
creased, it is probably safe to say that
the quotations have never exceeded the
true value of the stock.
The last annual report gave the coal
traffic of the railroad for two years
past as follows:
1900 1901. Changes.
Increase.
ported. tons 6Oo1, 1888 7,3oS,o57 1,SO6,o2i
Coal, ton,
miles $685. ia, 1854 t. 2O6, ,S17, 500 27S, ,Si5
Average dist.
carried,
miles ....... 152 1Ga II
Decrease.
Rate per tom
mile ....... O92Oc 0.S91 C 0O29 C
The average rate per ton-mile on gen.
eral freight last year was 0.6S3 cent,
being O.2OS cent less than the coal rate.
The increase in ton mileage last year
was thirty per cent. The railroad earn
ings from coal were $1O,749,344.
TOTAL EARNINGS.
The report also showed total earn
ings of $23,507 634.23 d gain of $685.
S7O.S2. and expenses of operation of $13,-
GLE, 1859, leaving net earnings of So
95.454.54. Other items brought total
income up to s11,2o2, 24S.O6, from which
| were the following charges:
o,
Rentals leased lines ............. 5,l73,4?1 so
Rentals New York terminals. 142. OBS Ii
Renewals and betterments ..... 2,523, 127 06
Sundry accounts chared off,. ,1S4 %
Total charges .................SS,lI2 IS, liz, 1913 80
Total net income ................S3,03 ,030,0Ji A
Less sevent per cent. dividends
on STOCK Observation-Disclosures. ,S34, OOO OU
Balance surplus ...............S,1 ,O14 AZ
The active, energetic man in charge
of the coal department, with title Of
vice president, is Edward Il. Loomis.
Mr.. Loomis is about 80 years of age and
is an Erie railroad man. After some
ten years experience, he became, on
the 10th of November, 1894. superin-
tendent of the Tioga division, with Of
flee at Blossburg, where he had charge
not only of certain railroad interests,
but of the Erie soft coal mines as well.
This position he held until January 1st,
1899, when he became superintendent of
the New York, SuSquehanna and West
ern and the Wilkes-Barre and Eastern
railroad then recently taken over by
the Erie. resigning this position on the
10th of June, in the same year, to take
charge of the coal mining interests of
the Delaware, Lackawanna and West
ern company.
BRIDGES REBUILT.
Practically every bridge on the Buff
falo division (west of Blnghamton) is
being built simultaneously. When the
road was built, only twenty years ago,
is was considered a model line, and
that the management should go to the
great expense of rebuilding all bridges
on far heavier plan may we'll be
taken as an indication of some move
looking towards increased business.
The road is probably the best outlet
for wesr-bound hard coal, and we would
not be surprised to see a large in
crease in this tonnage. On the mar
gins of the Genesee valley. two re-
locations of lines have been made. so
as to avoid high trestles. Great filings
will take their place, and the obtain
ing of material for those and for re-
ballasting has made enormous lnroads
on certain gravel banks along the road
At all necessary points, where not al
ready installed, the company is placing
block signals of the electro-pneumatic
| two-position type. A big CUTOFF is un-
der way near Mount Pocono. At Wash
| ington, n. j., the old coalng trestle has
| been taken away, a new station built
| and surroundings much changed
Lackawanna is doing a tremendous
| passenger and general freight traffic
and is in shape for an immense coal
| tonnage movement, when the opportu-
nifty offers Frederick Il. Saward.
1