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

other heavy traffic which. by availing sef
the alternate line already referred to the Ale
ghsny destination without being
now. seriously delayed both It's passage through
Altoona Harrisburg by passenger and
merchandise trafc which fully occupy your present
running The remainder Of the will probably
required complete yard and build 70 Col1
bia. from which point present freight line viii be
utilized until the read under construction Is built
from point Atsien Paolf Heavy expenditures
already between York Haven and
ROwenna the susquehanna River. between Columbia
Atgien. and between Glen Loeb and Thorndale ana
the steadily progressing
On Philadelphia Division. the elevation OF the
tracks Highspire and seelton above ire HOOD
line Of susquehanna River progress and the Inc
revised at ddIetown. and also at Gainesville where
the bridge now under construction y e4nls'
completed. Philadelphia the passenger line
finished. important transfer station at Thirty
second and Market Streets put IN service and the freight
yards facilities point greatly improved
and extended railroad through that section
the city connecting the Main Line and the New York
Division Delaware Extension and the Phiadei
pha. Baltimore and Washington Railroad and Intended
especially running between the Fair
Harrisburg and the Delaware River as
merchandise traffic handled at your
Dock Street terminals IN Philadelphia. and also for the
interchange OF traffic between the Maryland and
New York Divisions. practically completed
The revision grades sastbOund the Trenton Cut-on
between and MOrrisvs Is being steadily pros
ecuted so as to them IS s-t0 feet mile
On the United Railroads Of New Jersey Division. the
work Of elevating your through Newark and New
still progressing and viii be completed at
both points early The tracks OF the Pn-
aaeIphia and Trenton Railroad side OF the
Delaware River reconstructed and the new four
track stone bridge Trenton In service In the early
fall.
large freight yard being constructed at wsverly
for the accommodation OF the trac and
OF that passing and from Greenvie tho New YORK
Bay the extensive terminal improvements neces
sary to provide heavy traic exchanged win the
New York. Haven and Hartford Railroad system as
well as for destined New York Harbor points, are
being steadily continued Large expenditures were also
Improvement OF the Meadows shops and Jef
sey City piers
Extensive additions made your Motive Power.
Passenger Freight Equipment. and shop facilities
and to your and right Of while. as al
ready noted further provision made for your needs
through the issue CT Car Trust securities
The aggregate these expenditures during the
year upon your between New York and Pittsburgh.
and the branches operated connection herewith. was
So which includes s11 for equipment
ana shop tools machinery and s4s571s62 for right
OF way and real estate
OF this amount the sum Of SD go charged
to capital account So 81 charged against the
income OF year. and S123625JO against the pre-
MUM realized upon the issue Of capital stock Out
Of residue this premium the OF s5oo0ooO was
appropriated toward the Of the real estate purchased
for your terminal passenger station IN New York city.
applied in reduction OF value OF securities
and outstanding accounts
Ire expenditures upon your and auxiliary lines
amounted to 43 and By the several
Companies out Of their resources.
On these lines largest outlay upon the roads
specially engaged IN the biturninous coal and coke trac
and notably upon Pittsburgh Virginia and Charleston
Railway already stated. the exceptional devsl
opmeut mining manufacturing industries IN the
Aonongahea Valley required liberal expenditure
to take OF the traffic This read furnishes your
connection with these industries. while time
through Port Perry branch It enables Your through
exchanged with your Northwestern and South
western without passing through the eongestsd
Pittsburgh district was. therefore. deemed advisable
your Company. which ninety per
OF its capital stock. acquire the
outstanding; and in order 70 provide fer It's capital
pendturss stock has SO OOO 900 90
and Its funded debt equal OF four per
bonds bearing February, 1st 1904 running
forty years. the payment OF the principal and interest
/ being guaranteed by your Company.
On the Southwest Pennsylvania Railway the
lay yards. second sidngs also
the the Pennsylvania and Northwestern crsssOn
and Irvona and the other roads In district conso
dated In June last into the Cambria and Ciearhed Rail-
way. except that the Ebensburg Rail-
an made about twelve miles length
from DiItown Black Lick further your
Cambria and c1earneld Railway also under
struetiOn from Cherry Tree DixOnvils distance OF
% This road owned jointly By your
Company the New York Central Railway interests
and the useless duplication Of lines IN TIA; territory
avoided
The Mononsahela Railroad. referred
being constructed IN the joint interest
Company and OF the Pittsburgh and Lake Railroad
Company. was put IN service August 5lst 1908. and viii
Be valuable factor IN further developing traffic
that valley.
conditions which necessitated LIBERAL expendi
lures Main Line Also heretofore noted.
PEELED the lines OF Pittsburgh large outlaws
equally with the Northern Central
Philadelphia. Baltimore and Washington Loag Island
Railroad Companies Large advances made BY your
Company TO these roads and In order repay these
vances and provide for the important under
their respective systems named
Companies have each made issue OF $4,000 10000
cent. bonds those issued BY Long
road Company being guaranteed by your Company.
In accordance with action taken the last meeting
the Western Pennsylvania South Fork Turtle
ley. West Chester Downingtown and lancaster
erfront Railroads duly absorbed By your Company
under agreements taking effect April LIST. 1903
On the tt OF August Pennsylvania and North
western. Miersburg. Tyrone and C1earfed and
Cearhed Cresson and Ivona. and Ebensburg Black
lick Railroads consolidated into Cambria and
C1earhea Railway Company As your Company was the
practically Of the subsidiary CON-
properties merging into one
organization the traversng the btuninous
coal territory the Allegheny Mountains
The charges TO Capital Account during the year wee
a follows:
Brilliant Branch. New Portage Road Peters
OIL elevated treight railroad through
abroad. Improvement OF Port Perry Branch.
SIS 500 60 81
| Absorbed April 1st 1903 your Company
/ being the OF their entire