New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-02-27

Net income. S27. 50e50T S27s216ss Ina E1S- =.
Iron the net income OF ;275507 there hav, ~
Ssaacte9 TOT sinking fund purposes ana for 80 -
81 the principal OF ear trusts 81 Ss4si For 20 aeoa1s
1 ey xpenditureS-betterments OF Roadway ~ 7,
for the cash dividend Of per cent on re sna
hs stock S4 792s SCI. the OF these items s
The profit realized from the premium, ~ IN.
an. OF STOCK and sales Of securities less annops
charged en u reduction OF value Of sscurs ion;s
dpcfio IS slso1 20 % which sum Is absorbed by A.
expenditures for 1905. and 100000 applied to1sy
NE :, 2 OF real estate for the passenger ts.
profit and loss Deceber 81 i s e Ss rs credit q
changed rom December 81 1902 - -a-
Inc total assets OF the Pennsylvania Pan-o..
Company are given at s5Of Sg a. incIIIfrg S
sscurties owned ana 90 ss az estate f 2sC2 cost q
rolled companies FOR advances for corstrIcfor ~
STANDING s o AMI IN "a sdSt 9 ,s stock Og'-
saiSS fpaIl; WHICH Is three.fourths paid. me otsi
decrease Of SSse5572 from the preceding year Sb.
~ ~ Delng ehiey due 20 conversion OF convert,
panys direct revenue during the year rom se cT1
vi s TN ns snoSn;sd to nearly - On Il,
Inc entire Increase Of capital stock during N,
OF s2s CISCO OF convsrti6s 81 per eent Ss as,
November ], 1852 s2091l $50: under allotment mad
sa2.O49.4o0 ''''-'' S''-'-''' '''At
In explaining ana emphasizing n. p.c.s,itv s,-
the new construction work under way the greater
part OK which viii probably DO completed this
year. the report says.
The pressing necessity for the expenditures -
ferred 20 was clearly demonstrated by the OPERA
tons OF the last year for while there was an i'm
f9Oe. Il was FAR from SATISFACTORY Tue fsciiit,s.
throughOnt the whole system were Constantly
expense in the handling Of the freight but also he
diversion OF large amount OF tonnage to other
nomical movement OF traffic existed In 1899. when
s91SH Ins ygums me o. business upon TIE Line 10
any preceding year and 10 per cent IN excess q
were yet fully employed. As a result the records
show that the cost per ton-mile was the lowest IN
than 81 mills. But with the Continued increase N
tonnage since 1899 II has become evident thar the
movement was then reached and that sTsslv i IN
creased facilities must be provided In 1905 there
lsss and while cars and locomotives can generally
srable time is REQUIRED To- build tracks Yards shops
and other terminal facilities. Pending the compile
condition OF your system has brought about a largo
increase IN the tOn-ms cost. which for 1898 was >
sreatsr portion Of This increase = due TO the sd-
vance n the rate OF wages and the prices Of fuel
s s g 81, ne ss55s and q Rr rssg' ss
therefrOm-
After describing IN detail the several improve
ments under way. the report continues:
The aggregate amount OF these expenditures dur
rs. fhs wear UPON your line between New-York and
Pittsburr and the branches operated IN connection
therewfth was 50 006.3S5 81. which includes "
SEQ 80 90 for equipment and shop tools and ma.
chinery and Sass, G s. for right OF way and real
estate. .o.,-, - "a -
charged 10 capital account. S4i2.I- 81 was enarsed
arainst the income OF the year. and Sl5do-.so0 -
qTafust the premium realized upon the issle or
v0ur capital stock. Out OF the residue OF ms
prer,ilir the sum OF 100000 vas appropria.eo
toVTari the cost OF the real estate purchased Lor
,oT- terminal passenger station IN New YORK City
and the balance applied IN redUctlOh OF Nalue "a
securities and outstanding accounts -.,-s.--
The expenditures upon your branch ana au,1Iiatty
Ures amounted TO 1886 563 g. and were met uy tno
several companies out OF their own resources.
Referring 70 the company's construction vork n
and near this city. the report says:
The construction OK the tunnel line Tor the PqTT-
nose OF connecting your system Win tne boLs -
80 Railroad. and establishing a contrary iocauea
nasssnger station in the city OF NeW-AofAs l-s
been unavOidably delayed by the legal proceedinss
Tscessarv 10 perfect your title 90 the real estaLs
in That city ard BY the preliminary eNaflnttl9lss
that are essential before work o. such Eiasnt-
go rrouertv between Seventh and Nlnth ave-.
and Thfrty-drst and Thirty-third SIS Us uoN -.
Iesn acOuired and also the bed OF Ihirty -secont-
sr hsrv,esn the avenues named. oy the Eshllsyt
Is,fa Nsw-York and Long Island hallroad COnl-
psnv Large additional purchases or reai es,as -
Rave also been made FOR terminal yarGS IA LoEs
Tsiand Citv and. with the view OF facihtaung 80
Rem Sunk one at Weehawken and the otner .
TIaventh-ave and Thirty second-st. NeY- tS.s
fftv which will be permanently malntaiAso a4Ie'
fha tunnel is completed.