Evening star. [volume] (Washington, D.C.) 1854-1972, 1902-11-18
RAILROAD EARNINGS
Wages of Employees to Be
Increased.
ACTION BY OFFICIALS
OTHER COMPANIES TO FOLLOW
PENNsY's EXAMPLE.
Enormous Sums to Be Spent in I'm
provements In This City and
Elsewhere.
ACTION BY OFFICIALS

Inc enormous sums or money which sew
eral Of the big railroad systems are to d.
vert from dividend purses and sinking
funds to the pockets of their employees and
for magnificent terminal improvements and
construction purposes would seem to indi-
cate not only far-sighted business sagac-
ity. but to call attention to the era of good
feeling dawning in the relation of labor to
capital
The Pennsylvania Railroad Company
started the bali rolling last week with the
announcement of a 10 per cent increase in
the salary of it's 100000 employees.
The New York Central followed with an
addition OF nearly 81, 100000 annually to Its
pay roll, being an increase of from to ID
per cent in the wages OF its train operst-
ing force.
The Philadelphia and Reading FASTENED
to announce that Vice President Voorhees,
was working schedules for an increase
to the employees of that road, Of which the
details would be made known this week.
AS the result of a conference held in
Cleveland Saturday between the officers
Of the Lake Shore, Big Four Erie, Nickel
Plate and Wheeling and Lake Erie roads,
Il is believed the trainmen of these roads
are to receive similar advance to that Of
the Pennsylvania employees.
The president of one of the Gould roads
made the important statement yesterday
that schedules are now being drawn by
which a majority of the employees on all Of
the Gould roads will get. a wage increase
apDroximating 10 per cent More than
crease. which will involve the expenditure
Of several additional millions yearly
The Gould roads which will be affected
by the Increase are the following: Missouri
Pacific. Texas Pacific. Denver and Rio
Grande. st. Louis and Southwestern. Rio
Grande and Western and Wabash.
Pennsy's Improvements.
Two hundred million dollars will be spent
by the Pennsylvania railroad and the COM
panies which are a part Of that system
during the next two years in improving and
re-eauipping the trunk lines and branches,
building new tunnels and terminals and in
general preparation to handle the COM
pany's enormously increased traffic.
The expenditures which go to make up
this enormous total. and which have been
authorized by the directors include ST.
100000 for terminal. tunnel, elevation of
tracks and new freight yards in this city
The new union station Is to cost $4,000, 600,
and Is to be the handsomest railway build
ing in the world.
The New York terminal is considered
the main improvement the road has order
ed. This is to cost $5O,O0OO0O, which is to
cover the expense of a terminal station in
New York city; twin tunnels under the
tunnels to run therefrom under the city and
under East river to Long Island. AS soon
as the franchise is passed by the New York
board Of aldermen, which is expected short
ly, the company announces that work will
be begun on the tunnels at once In four
places,
Five million dollars Is to be spent to
build new bridges across the East river at
Ward Island to connect with the New
Haven and Hartford road. with which the
Pennsylvania has a traffic agreement
In Philadelphia the terminal facilities are
to be increased at an expense of $4,000
600, which is to include improvements prin-
cipally in West Philadelphia. Between
Philadelphia and Pittsburg $5OOO,OOO will
be spent on the main line, and many i'm
provements are to be made west of Pitts
burg. while new station has been ordered
for Chicago.
Where the Money Comes From.
The financial plans Of the company In or
der to meet these expenditures have all
been made. The last legislature authorized
the Pennsylvania to issue 500. 900 of
new stock. or this amount $500, OUJ has
been issued. leaving SAT. 500. 900 in reserve
The 100000 necessary to build the New
York terminal will be provided by an out
side corporation which has been formed
among Pennsylvania railroad officials and
directors. 1t Is announced that the stock
and bonds issued by this new company will
all be taken up by New York and Philade-
phia trust companies and banks closely
allied with the Pennsylvania. The Balti-
more and Ohio and other subsidiary lines
have made stock Issues and allotments to
cover the 500, 100000 which they will spend.
The Baltimore and Ohio alone has issued
S42, DOC, 600 of new stock
Annual Report Of B. & o.
The seventy-sixth annual report of the
directors of the Baltimore and Ohio Rail-
he
June so last was made yesterday at a meet
ing of the stockholders In Baltimore.
The report makes most gratifying show
ing for the present management and 1ndi-
Gates that the system Is doing large bust
ness. The operations for the entire system,
as shown by the income account for the
year, are: