The Washington times., 1904-02-27

uOiiSGS. =
me number Of tons Of freight moved
on on the lines west of Pittshurgh was
Ius6l2.935, an increase OF es7 sa1 'rbe
number 5l1 OF passengers carried was o.
@0s,Voo' an increase of 1,S47. $50
ne gross earnings OF all lines east
er, "est go OF Of PlttsburRh for the year 1903
80 a., ,Szsz-Sli =. .I5iS5, opcr@ ing exDeuses
SM5de;Sfs, 81 43I.S1. and net .. nf1Rs S67 i2o
SLu-us- an increase in gross earntneSs
compared with 1902 of S22. .43S. .52T. Sc. and
There we're 295. .12O. .29s tons OF frei.11t -
moved, being an increase OF 25 ega sio
tons. and 123. .652 2O3 passengers carried ~
increase Of 1888, ,362 -'7N an
GENERAL REMARKS
In addition to the issue OF cani+a,
s.ock already noted as growing out of
tne conversion of a large portion ~
your outstanding 31s per cent. CONVEX
IDle Bonds bearing date Nover7ber LEI
!yoZ' further issue was made under
az te tho no. given by the Shareholders
suance of resolutions of the Roard - os
directors of March 25th 1903. Under
resolutions and for the purpose of
pToVldlng the capital for the large con-
strucuon and equipment expenditnres
the necessity for which was frIIv -
pIalnred in the last annual report. the
privilege was given to the stOckhoI6ero
70 subscribe at $50 per share for on
third of their holdings on Nav oil itns
tne payments to be made in three in
Stalnents between June 18th 1902 and
June 18th, 1904. A further option v,ay vu,i,s
also given to the subscribers Ia ra,, 80
tne stock so allotted in one or two
payments. Under the terms 90 tEf
allotment, which provided Cor an ;sS,Ia
or S5,094, 100, so. $50 OF stock haS..
Deen subscribed and paid - In full. and
naYa nne bis biaianSe nee, due on the remainder is
through the funds thus secured your
Company was able to proseeufe tf,oor.
ously during the year the construction
OF new lines and branches. the exten
sion of its four-track system the es
adjustment of additional freight wards
and the further revision and improve
ment Of the grades of votIr eTistgn,>
lines. and also to acquire large amoI,r3
OF additional motive power and e0tIo-
ment The pressing necessity for the
ssHpendltures referred TO was clearly
demonstrated by the operations of the
past ySar, For while there was an i'm
prcvement In the movement OF traf4ic
over that Of 1902 II was far from salts
factory. The facilities throughout the
whole system We're constantly over
taxed. and this brought about nor oniv
undue expense In the handling of the
freight. but also the diversion az a iaroe
amount OF tonnage 10 other lines T6o
conditions most favorable to an eco
nomicai movement of traffic existed in
lsss, when although the volume of bust
ness upon the line between New York
and Pittsburgh was larger than I'm any
preceding year and 10 per cent IN s-
cess of that Of 1898. the facilities. though
not overtaxed. were yet fully EMPLOYED
AS n result the records show that tho
cost Der ton mile was the lowest in fh,4
experience OF the Company. having
been less than 3ia mills. But with fhe
continued increase in tonnage since 1Ssa
II has become evident that the limit of
your capacity for regular and economi-
that largely increased facilities met '1,o 10
provided. In 1903 there IS an increase
or 81 per cent. over the tonnage of 1890
and while cars and locomotives can gen
prompCness, considerable time is re-
quired to build tracks Yards shops and
other, terminal facilities. Pending the
completion OF these additional facilities
the congested condition of your system
has brought about a large Increase In
the ton-mile cost. which for 1903 was .
per per cent. greater than that. for 1899
While the greater portion of this in
crease is due TO the advance in the rate
OF wages and the prices OF fuel and ma
teTlaIs. the remainder can only be at
ent facilities, and 10 the detention ana
loss directly resulting therefrom.
II Is only by bringing your facilities
to the proper standard that an easy and
steady flow OF traffic can be assured
and the minimum cost Of movement at
tained, and Il is to this end that the
have been mainly directed. The greater
portion Of the work referred to will be
completed during the present year. and
n brief statement OF fits present condi-
ton is herewith submitted.
The Brilliant Branch, the new four
track connection between the Main Line
at East liberty. Pittsburgh and the AL
legheny Valley and Western PennsvI-
vania Divisions. viii be open for service
In the early part OF the year thus leav-
Ing the tracks OF those two roads west
of the functions exclusively for the.
movement of freight while the PORT
Perry Branch. connecting with the Pitts
burgh. Virginia and Charleston Railway
near Thomson, has been practically re-
built and a western connection con
stTucted between that branch and the
Main Line at Brinton. Large expendi-
lures have been made upon the Thon1-
son, Ormsby and Charlton Yards on the
Pittsburgh. Virginia and Charleston
Railway, on It's new four-track low
grade line through South Pittsburgh. in
the construction Of additional stora &c
and running tracks and sidings and in
the revision OF the line of it's Redstone
Branch. These improvements will
largely subserve the local industries OF
Pittsburgh. and greatly facilitate the
movement OF through traffic around that
city and its Interchange between your
eastern and western systems by avci1-
ing the DELAYS insuperahle from ifs %. &;
sage through Pittsburgh.
On the Pittsburgh Division the four
track system was completed between
Larimer and Stewart Latrobe and
Beatty. and SummerhilI and South
Fork as also the elevation through n