Los Angeles herald. [microfilm reel] (Los Angeles [Calif.]) 1900-1911, 1906-02-06

/ facts or some OF them have been dis
closed from time to time In proceedin
/ before the commission From the lates
| of these reports, covering the year end
| ing June 30, 1905 the following figure
and other data have been compiled:
The pennsylvania Railroad com
pany has an authorized capital stoc
| Of OO,O00000, OF which 1902 5l3. 300 ha
been issued and is now outstanding
| This company appears to control and /
understood to control all the lines EN-
braced ~ the Pennsylvania system, 9
called. having an aggregate mileage o
10,909.S6 and gross earnings for the yea
named of S23S. LIP, 52S. The term Penn
sylvanla system as here used include
the lines of the Pennsylvania Railroa,
company, the Pennsylvania company
the Philadelphia, Baltimore & Wash
| ngton Railroad company and tn
Northern Central Railway company
but not including the Baltimore & Obi
company, the Norfolk & Western Rail
road company or the Chesapeake 4
Ohio Railroad company.
Pennsylvania company's Stock
"The Pennsylvania company. which
controls all the lines of the Pennsyl
vania system west Of Pittsburg ant
$50, 100000 of which $4O,0OO,O0O has beef
issued. All this issued stock is owned
by the Pennsylvania Railroad com
pany.
THE Philadelphia, Baltimore
Washington company has an authorized
capital OF $25, $50, $50. of which 1923, 493
$50 has been issued and is now out
standing. OF this issued stock thu
Pennsylvania Railroad company owns
1923, 49O,775.
"'The Northern Central Railroad
company has an authorized capita
stock of 500 ,000. 600, of which SIG, 1913, 40l
has been issued and Is now outstand
ing. OF this issued stock the Pennsyl
vania Railroad owns so, 401 $50.
The Baltimore & Ohio Railroad com
pany has an authorized capital stool
of $50, 100000 of preferred and 1925, ZOO
of common stock, of which $50 1856, As
of preferred and $124,272,060 of common
have been issued and are now out
standing OF this issued stock, tn,
Pennsylvania Railroad company owns
$21 100000 of preferred and $50, 292, 800 o
common; the Pennsylvania compan,
owns S5,00O,00O of preferred stock an
$11 ,044, 500 of common; the Northern
Central Railway company owns $1,000
600 of preferred and S7S7500 of common
the Philadelphia. Baltimore & Wash
ington Railroad company owns $1,000,
900 of preferred and $7S1,500 of common
at thus appears that the Pennsyi
vania Railroad company and three
other companies which it controls owl
an aggregate of $2S, 600 of Baltimore
& Ohio preferred and &2,900.G00 of Balti
more q Ohio common stock.
The Norfolk & Western Railroad
company has an authorized capital oi
~ .
100000 of common stock, all of which
has been issued and is now outstand-
ing. OF this issued stock the Pennsyl-
vainia Railroad company owns $5,500,-
900 of preferred and $40, 100000 of COM
mon; the Pennsylvania company owns
100000 of preferred and $1,500,000 of
common, the Northern Central Railway
company owns 100000 of preferred and
$1,000,000 of common 1t thus appears
that the Pennsylvania Railroad COM
pany and the two other companies
SILT 900 of Norfolk & Western pre-
ferred and $22, $4,000 of Norfolk & West
ern common stock.
Chesapeake & ohio Road
"The Chesapeake & Ohio Railway
company, with an unlimited authorized
capital stock, has issued $4,000 first pre-
ferred, $500 second preferred and $751;
100000 common stock, which is now
outstanding Ofsithis issued common
stock the Pennsylvania Railroad COM
pany owns $40 100000; the Pennsylvania
company $4,000,00O, and the Northern
Central Railway company $1,500,000. 1t
thus appears that the Pennsylvania
Railroad company and two other COM
panies which it controls own in the ag-
gregate $15 900 of the common stock
of the Chesapeake & Ohio Railway
THE foregoing statement shows the
extent to which the stock of the several
railroad companies named in the resolu-
ton is owned by any other railroad
named therein.
I'm addition to these facts of stock
ownership the annual reports above re-
ferred to show the names of the Off
GERS and directors of the several rail-
road companies in the resolution on
June 80, 1905.
From the general knowledge and in
formation of the committee the further
statement is warranted that since the
acquisition by the Pennsylvania Rail-
road company and the companies con-
trOled by it of the stock of the Balti-
more & Ohio Railroad company, the
Norfolk & Western Railroad company
and the Chesapeake & Ohio Railroad
company, as above set forth, the pub
lished rates of the several railroads
named have been better maintained
and in some instances advanced and
that there appears to be less COMPETE
ton in rates between those lines than
was formally the case; but this is also
true of competitive rates generally in
other parts of the country.
AS to whether the facts hereinbe-
fore given show or tend to show vio-
lation of the act of congress referred
to in the resolution, the commission en-
presses no opinion as it is charged with
no duty in connection with that en-
actment and has no authority to deter.
mine question arising hereunder.
All of which is respectfully sub
mitted.
"Signed)
MARTIN A. KNAPP, Chairman"
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