Evening star. [volume] (Washington, D.C.) 1854-1972, 1903-02-28

on that end Of the Pittsburg Division to use as
sisting power only a. far as Radebaush.
The estimated cost Of the improvements EAst OF
provide the means. and which viii require from
two to three years, to complete, IL as follows: .
burg. Bsiiiiant. Shire alas Oaks ias ormssy
and other yards: the connection
sss Main al fas ss !. s gHnto as's e.
elevation Of the Western Penneyl-
ya1ia Railroad. the extension Of
the elevated railroad along Du-
'quesne Way. and the cost Of the
new freight station at the Point.
For the new line between Radebaush ''''''00''s
and Derry, and the completion Of
the four track system on the Pitts
For the doubie-tracking Of the West ''~'Doe''o
ern Pennsylvania Railroad and
other improvements thereon. ...... 2,0O0, 000. 90
age roadbed, double tracking the
Petersburg Branch, and the Holli-
For completing the four track sys. ~
tenn the Middle Division and
other improvements on that d.
For r''' the new line between York ''''''
Haven and Parkesburg, and Thorn
dale and Paoli. and two additional
tracks between PaoH and Phila-
For the extension Of the West Phila. 1e''''''0
delphia yard. the elevated railroad
connecting the Maryland Division
and the Delaware Extension with
the Main Line and the New York
Division, and for other facilities in
West Philadelphia. ..............-. S,OOO,OOO.OO
For reducing the grades on the Tren- -.
For A two e additional tracks, making
six running tracks in all, between
Trenton and Newark, changes of
line at Frankfort and Bristol. ele-
waiting the road through Railway,
completing the elevation at New
ark and New Brunswick and the
change OF line at Trenton, ana
other improvements on the New oo ~, M
YORK DIVISION .................. i@'VVV,VVVoo
Total ............... $0I'ooO'OoVoV
While this is large sum, no less an expenditure
will enable your company to perform its duty TO
the public Your Board are satisfied that the IN
vestment Of this amount will result IN Largely IN
from the greater voume of traffic which Will De
handled but through the economies which WI.
location and arrangement of yards, and the saving
in shifting service now updIly expensive, ana IN
crowding Of yards and tracks. has become serious
item. While the amount Of such savings cannot
upon the lines East Of Pittsburgh they would have
amounted to several millions Of dollars.
fesssd nes of Psbursh Of
your company. In addition to double-trackng ma,
teral sections Of the existing roads, 1t Is proposed
new p line about sixty miles in length eetween
point on the Fort Wayne Road near Tn, Enon a and
R gan ssnsny VALLEY wharf
will form, with the Low Grade Division Of the the
Allegheny Valley Railway, the Ph1ladelpnla ana
Erie Railroad and the Northern Central Railway,
a low grade line from the West to Harrisburg, only
twenty miles longer than the present line via
Pittsburgh. Over this route the through traffic OF
the Pittsburgh Fort Wayne and Chicago ana C!eve.
land and Pittsburgh Roads can be moved without
passing through Pittsburgh, and additional relief
thus AFFORDED to the congested tracks In that dis
trict. For such portion Of the capital expenditure
West of Pittsburgh as you may supply to the Penn
sylvana Company, you Will be reimbursed through
its dividend paying stock other securities.
In addition to the above expenditures ana 70
fhoo, frod for
upon the tunnel line into New York. large outlays
will be required upon the philadelphia, Baltimore
and Washington Railroad. the Northern central
Railway and the Pittsburgh. Virginia and Charles.
ton Railway, the means for which Will De provided
by those companies. :,
In this connection it may be well to call atten-
ton to the fact that the charges to capital account
for the construction Of tracks and roadDed IN re-
cent years have been comparatively tri1ing. From
1897 to 1902 inclusive, period OF i've years, the
600 600, or little over IL per cent, for improve
ments of the character referred to, they having
been substantially paid for out Of Income, Whlle
the tonnage Of the Main Line and branches has
600, 600 to over u, 100000 tons. or about "a per
cent, and while its Gross Earnings for the same
period have increased from about $SSOOoOVO to
S8S 600 co., or nearly 50 per cent, and Its Net
Earnings from about $14 10000 to $2o,OOOOOo, or
10 per cent. -. 49,. A..
II WILL as already stated, require from two to
three years to complete these Improvements but
the money needed should be provided IN advance.
n was in view of this fact that Your Board gave
the necessary notice OF Its intention 10 recom-
in the authorized capital AS the law OF pennsy t
yania requires a vote of the majority Of the out
standing stock to increase either capltal STOCK or
By order O.