Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-03-03


For the purpose of retiring $5.s27 900 funded
indebtedness Of the ST. Louis. vandalia and Tefre
Heute and Tsrre Haute and Losanspcrt Railway
Oonpanies. constituent organisations Of the Con-
soltdated vandalia Railroad Company. and for
other corporate purposes. fsaue made By
four per cent Consolidated Mortgage bonds, ma
turing February LIST. 1855.
In pursuance Of an agreement with the Erie and
Pittsburgh Railroad Company, under date Of No
vember LIST. 1906. your Company has arranged to
provide the Sinking Fund instalments required
by the General Mortgage Of that Company, Of
July I. 1880. the Erie and Pittsburgh Railroad
Company agreeing to deliver from time to time
Its three and one-hah per cent debentures at par
to the amount Of such advances, and upon the
final payment Of the outstanding General Mort
gage bonds to exchange new Mortgage Bonds to
b. Issued In lieu thereof. par for par, for the
debentures 90 delivered to your Company prior
thereto.
In pursuance Of an agreement Of consolidation,
duly approved by the Boards of Directors and
Shareholders Of the two Companies. the Pittsburgh
Youngstown and Ashtabula and the New Castle
and Beaver Valley Railroad Companies have been
consolidated into the Pittsburgh, Youngstown and
Ashtabula Railway Company, taking effect of
January /. 1906 This consolidation merges into
one ownership the lines leading from Kenwood.
Homewood and Alliance Junction on the Pitts
burgh, Fort Wayne and Chicago Railway to Ash
and harmonious administration Of the property.
CAPITAL EXPENDITURES.
The amount of Capital Expenditures during the
yeas on the Lines west Of Pittsburgh for con-
strnction equipment and real estate was $40, oo5,
924 IS.
Further large expenditures were made upon the
Pittsburgh. Fort Wayne and Chicago Railway IN
the elevation and depression of tracks to avoid
grpde crossings In the cities OF Chicago and Ale
gheny. in the construction OF third. fourth and
NTH tracks and of sidfngs at various points, and
In the extension and Improvement Of terminal
yards
liberal outlay also required for double
tracking. yards, docks and other terminal facili-
ties on the Cleveland and Pittsburgh, Pittsburgh,
Youngstown and Ashtabula. and other lines In your
Northwestern System. On the Southwestern Sys-
tenn the same policy pursued in regard to the
track elevation in Chicago. the further extension
of second track between Columbus and Indianapo-
lis. the construction Of other additional main
tracks and sidings. and the improvement Of yards
at terminal points.
There was also considerable increase in the
locomotive and equipment on both systems.
TRAFFIC.
The number Of tons of freight moved on the
lines west of Pittsburgh WIS 49, go, LOIS, an In
crease OF 2o.6o3.664 The number of passengers
carried was Is 119, an increase of 400, $751;
The gross earnings of all lines east and west
OF Pittsburgh for the year 1905 were $685. O6e-
59'16; operating expenses, $192, 100, 34s AZ, and
ne* earnings $73,969 249.3 "a, increase In gross
earnings, compared with 1904 of $2S, $50 III. 49,
and an increase in net earnings of S., 266 2S9 81
There were $3.50 ,237 tons of freight moved be-
ing an Increase of 4S 191 207 tons, and 1926 OS4
passengers carried, increase of 5,66S, O05
GENERAL REMARKS
The tonnage shows an exceptional increase both
vAlur and
traffic for the year being much the heaviest in
the history of the Company and by reason of the
noeral expenditures recently made in the con-
struction OF relief lines and large terminal yards
and the substantial additions made to your motive
power, the movement thereof has been materially
improved The gross earnings of the lines East of
Pittsburgh and Erie show large gain and the
prosperous conditions prevailing in the country
are reflected throughout the entire system
There was slight reduction in the average rate
ana also In the net earnings per ton per mile, but
owing to the volume of traffic carried, there was
large gain IN the freight revenue. There was an
increase in the expenses in all departments and
hotGbly In that of Maintenance of Equipment due
to the OUTLAWS necessary to keep your motive
power and equipment up to the requirements of
tae trafhc 1t Will be seen, however that after
meeting all liabilities and paying the regular
dividend of six per cent, the surplus income was
sufficient TO provide for the installments due on
lnc piibSipdi VI the outstanding car trusts So
24a and for S. 424 Ss1 81 the Extraordinary
Expenditure for the year.
The heaviest outlay during the past year was
upoi the low grade freight line from York Haven
10 Glenioch The work was prosecuted vigorously,
and the sections between York Haven and Column
bia and between Atglen and Parkesburg are now
in service. Between Columbia and Atgien and be-
tween Ihorndale and Glenloch the grading is
rapidly approaching complexion and the entire
road will be finished iu the early Spring
Aduitlohal expenditures have also been made
upon the yards operated at Enola In connection
with this line, and facilities provided at Thorn
dale and Denbolm on the Philadelphia and Middle
Divisions, through which four freight trains In
each direction can be coaled and watered at the
same time, and the delays avoided that now re-
suit from trains having to follow each other at
intervals and wait while those ahead are being
served.
The yards at Harrisburg, Tyrone Altoona Pit
calrn and Pittsburgh have been further extended
the eastbound classification yard at HolIidaysburg
enlarged, and provision made for an extensive
westeound yard at the same point, for the CLASH
hcstion OF coal TO be distributed over the
fittsourgh Division. At the Worthwhile terminus
Oh the trenton Cut-of liberal yard facilities are
also being furnished for the accommodation of the
trai1c passing over the New York Division.
AT Broad Street Station Philadelphia the ex-
press station has been rebuilt. and the widening
cut and lengthening of the tracks on the Sou,b
side is under way.
AT East Liberty. Pittsburgh, new passenger
station is being erected. which will furnish ade-
quate accommodation for the large travel at that
point. The elevated road on Duquesne WAY and
the carload delivery yard have been completed
and the freight houses under construction
On the Pittsburgh Division the four-track system
has been finally completed between Bolivar and
Bialrsyile intersection. and work is being pushed
between Beatty and Donohoe, and on the revised
line between Beatty and Southwest Junction The
second track on the Western Pennsylvania Division
between TunBelton and Salisbury has been com.
peted jumpover has also been constr st
Ehrenfeld 10 prevent Interference by the South
Fork coal traffic with the Main Line movement
On the Middle Division, the four-track system
on the Canal line at Newport has been put in sery
Ice, and the stone arch bridges constructed over
the Juniata on the four-track line between
Granville and Mayes.
On the Philadelphia Division, the elevation above
high water of the tracks along the Susquehanna
River between White House Road and Harrisburg
has been completed.
One OF the most important matters which re-
ceived attention during the past year was the pro-
viding Of sufficient water supply for present and
future needs. Owing TO the largely increased de-
mand arising from the growth Of the traffic. the