Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-02-28
GENERAL REMARKS.


The tonnage shows a substantial decrease both
In volume and mileage compared with the ex-
ceptional figures Of 1903. but increase In the
ton mileage over that of 1902. The gross rate per
ton per mile the in 1893, but there
having been reduction in expenses there
slight gain in the net earnings per ton per mile.
There was a lessencd demand during the summer
upon your facilities and equipment but the
perience of the closing months showed conclusivey
that the heavy expenditures made for increased
facilities during the past two years were more
than justified The completion of the Brilliant
Branch the practical rebuilding of the PoIt Perry
branch and the construction of Its western con
nection with the Main Line at Brnton, together
with the extensive additions made to the yards
the Pittsburgh. Virginia and Charleston and Allie
gheny Valley Railways, and the Improvements upon
your western lines In and adjacent to Allegheny
City and South Pittsburgh. should largely solve
the problem of u free movement in the Pittsburgh
District and to great extent eliminate the
gestion that has heretofore prevailed therein.
large outlay was made upon the Petersburg
Branch. and the HollidaysbuTg yard which is
now being further developed TO fully
modate the coal and other heavy traffic The
Fairview yard is IN active service. although Its
track system Is not fully completed and is PROV
ing OF great value In expediting the movement Of
your tonnage The four tracking OF the Northern
York Haven. over which the heavy tonnage east.
bound from the Fairview yard passes, has been
completed and the line between York Haven and
Columbia which includes the doubletrack
stone bridge over the Susquehanna River st
shoch's. is now in service. The present tracks
line under construction from Columbia to Glenloch
is completed Heavy expenditures have been male
strikes the Main Line. and between Atglen and
Parkesburg and Thorndale and Glenloch and the
work Will be pushed vigorously during the current
year.
The other important items of construction upon
the Main Inc during the year We're follows:
On the Pittsburgh Division the extension of the
four-track system between Iatrobe and Derry,
Blairsyille Intersection and Bolivar South Fork
and Viaduct. and Lilly and Portage. the revision
of the line between Derry and Bradenville and the
completion of the single track westbound tunnel
at Gallitzin. On the Western Pennsylvania Dvi-
sion the second track completed between Boil
ivar Junction and Blairsville. and running facil-
ssops we're and sRs
expenditure was made on the new repair shops at
On the Middle Division. work prosecuted o
the new four-track line through Newport and com
plared bet, between the west end Of Newport and
On the Philadelphia Division. substantial progress
was made in the elevation of the tracks between
floods. The line between Atglen and Christiana
was revised. the four-tr1ck stone bridge at
made in the freight yard at West Philadelphia
The new elevated freight road through that
Division with the Delaware Extension and the
Philadelphia Baltimore and Washington Railroad.
though the entire work thereon was not com
pleted until the end of the year.
tween your New York Division and the Main
Line which required the relocation OF a portion of
the Junction Railroad. was also opened for traffic
The grades eastfound on the Trenton Cutoff
between Glenloch and Morrisvile reduced to
On the United Railroads Of New Jersey Division
the elevation of the tracks through Newark and
New Brunswick was completed, and further
large expenditure made to put the freight
yard at Waveriy into service. in the improvement
OF the New York Bay Branches and In the con-
struction of the jumpover to carry eastbound pas
senger trains above the tracks connecting With
the Waverly yard Work was commenced upon
the new repair shops east of Trenton and your
round house and yard facilities improved at
Camden.
The main outIar however on that division r-.s
upon the freight terminal at Greenvile, in
dredging the channel filling in the yard. extension
of tracks. construction of transfer bridges piers
and other improvements necessary for the ham
ding Of the traffic exchanged with the New York
destined to New York Harbor points The ma
terial for filling this yard is now obtained from
the excavation made In connection with your Ter
mlnal Station in New York City.
1t will be seen that OF the important improve
ments outlined In the Annual Report for 1902 as
necessary 10 enable your traffic to be promptly
and economically handled, material portion has
been substantially completed
Extensive additions were also made to your pas
senser and postal equipment and to the tools and
pended in the purchase of real estate.
COST OF ROAD;
Being expenditure in construction of Brillian
Road, Petersburg Branch. new freight line
freight road through West Philadelphia Fai
tension of four track system Main Line
,, on Trenton Cutoff new shops, and terminal
Passenger; Postal. Car Trust and other equi
REAL ESTATE. ...................
Total charges to Capital Account for 1904 .
The increase of the CAPITAL STOCK during the
Amount issued to shareholders who had paid
10Th, 1908, upon payment of remaining inst
issued for fractional scrip resulting from sto
Issued in exchange for Convertible Bonds Of
As advised in the call for the Annual Meeting.
your authority will be requested for increase
the bonded Indebtedness OF the Company. Besides
making provision for your consolidated mortgage
bonds. which mature In the early Summer. it will.
as already noted be necessary to provide the funds
for a further subscription to the capital stock of
the PENNSYLVANIA Company. for that portion of the