The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-02-28
Will SPEND S67,OOO,OOO
PENNSYLVANIA ROAD TO MAKE
MANY COSTLY IMPROVEMENTS.
Vast Expenditure of Money Necessary
to Care for Increasing TrafHc-An-
nual Report of the Company.

PHILADELPHIA, Feb. 27.-The Pennsyl-
vania Railroad will spend $67,00O.0O0 on its
lines between Philadelphia and Pittsburg
in the next two or three years on improve
ments to promptly and economically handle
the present volume of traffic and meet the
demands for the next few years of active
growth. This statement is made in the an
nual report of the company issued to-day.
The improvements will include the con-
struction of new connecting links and the
increase of trackage at various points be-
tween Philadelphia and Pittsburg.
1.-The remarkable development of busi-
ness" the report says, Throughout the
country. and particularly in the sections
served by your lines, created during the
past year a demand for transportation
which could not be supplied. For although
the traffic carried over the roads compos-
ing your system east and west of Pitts
burg aggregated nearly 27o.0OO,0O0 tons, be-
ing an increase of 26.OO0.000 tons over the
previous year, the necessities for the in
dustries dependent upon your lines demand
ed a much larger movement The inability
to accommodate these industries was due
mainly to lack of track and yard facili-
ties"
The report shows that the gross earnings
of all lines directly operated by the Penn
sylvania Company during the year 1902 were
$112 $50. $50 and the net earnings s37, ,612. .25S.
After deducting fixed charges, rental, ex-
traordinary expenses, etc., there was bal
ance of s12s13, 434 A dividend of per cent.
to the stockholders left a balance of $780,
943, which was transferred to the credit Of
the profit and loss account, which account
now amounts to s24, ,7i2.224.
The gross earnings of the Pennsylvania
lines west of Pittsburg pennsylvania Com
pany) were 5.64s and the net income
was s.. 1885, .9s5. Contributions to the sinking
fund and a per cent dividend left bal
ance of $956O25, which was transferred to
the credit of profit and loss account. which
account now amounts to S6,122, ,359.
The gross earnings OF the Pittsburg, Gin
cinnati, Chicago & ST. Louis Company
amounts to $26, 634, ,357, and the net income to
$3,021 .9S3. Extraordinary expenses and divi-
Ss,ss6,512
The gross earnings of all lines east and
west of Pittsburg for the year were $219.-
s49. 500. net earnings $67 629 592. an increase
1901. There were 115,S4s, SAL passengers car
ried. an Increase of 10,42l,520.
During the year 227 employees were re-
tired under the pension regulations of the
company. The amount of allowances paid
was $265. .112, and the number of pensioned
employees on the roll is ,201.
The improvements on the main line of
the Pennsylvania between New York and
Pittsburg during the last fiscal year
amounted to $25,S74,276. Extensive improve
ments. the report says. will be required on
the leased lines west of Pittsburg. In ad-
dition to double-tracking material sec
ton of existing roads 1t is proposed to con-
struct a new line about sixty miles long
between a point on the Fort Wayne road
near EnOn and Red Rank Pa whore IN
will connect with the Allegheny Valley
Railway.