Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1906-02-06

Pennsylvania SYSTEM as here used, III
cluGcs the lines of the Pennsylvania
Railroad, the Pennsylvania Co., the
Philadelphia, baltimore & Washington
Railroad Co, and the Northern Central
| Railway Co.. but does not include the
| Baltimore & Ohio Railroad Co. the
Norfolk u Western Railway Co.. or the
Chesapeake & Ohio Railway Co.
! "rhe Pennsylvania Railway Co,
! which controls all the lines of the
1, Pennsylvania system west of Pittsburg
and Erie. has an authorized capital
stock of $50 600. 900 of which $40. 900 900
has been issued. All this issued stock
| is owned by the Pennsylvania Railroad
1, Co. The Philadelphia, Baltimore &
Washington Railroad Co. has an au-
| tnorized CAPITAL stock of S25.3:0 $50. of
which S23, 495. $50 has been issued and is
now outstanding. OF this issued stock
| the Pennsylvania Railroad Co., owns
So, 800 15.
THE Northern Central Railway Co.,
has an authorized capital stock of 500
600, 000 Of which 17.193. 400 has been is
sued and is row outstanding. or this
issued stock the Pennsylvania Railroad
| Co. owns So, $50.
| 1.-The Baltimore & Ohio Railroad Co.
i has an authorized capital of s6O. 900 900
, of preferred stock and $125 100000 OF
common stock, of which S59, 9S6, AGA of
preferred and s124,27 O6O common have
f, been issued mad arc now outstanding.
OF this issued stock the Pennsylvania
| Railroad Co. owns $21. $4,000 of Pfd
and $50 293. 300 Of common: the Penna
Co.. owns S., ZOO, 900 Pfd.. and 81 .O44.600
Inf 10
way Co.. owns $1,000, 900 of Pfd., and
$7S1. 500 of common; the Philadelphia
! Baltimore 4 Washington Railroad Co.
owns S1,000,c00 of Pfd.. and $7S1 800 of
common. 1t thus appears that the
Perna. Railroad Co.. and three other
companies which it controls own an ag-
gregate of $2S.4SO,GN0 of Baltimore &
Ohio Pfd., and $40, 800, 600 of Baltimore
| & Ohio common
THE Norfolk & Western Railway Co,
| has an authorized capital of $4,000 900
! of Pfd. stock and SGT, O0O, 900 of common
/ stock. all of which has been issued and
is HON outstanding. OF this issued
stock tht Penna. Railroad Co., owns
s5.50O.0p0 of Pfd.. and $40 $4,000 of COM
! mon; thePenna. Co, owns s., 600 900 of
! Pfc. and $l.500,000 of common: the
| Northern Central Railway Co.. owns
| 100000 of Pfd., and $1,000. 900 of COM
=, mon.
| 1T thus appears that the Penna
Railroad Co.. and two other companies
which it controls owns in the aggregate
81 100000 of Norfolk &, Western Pfd.,
and s22,s20,00O of Norfolk & Western
| common.
1 = ('hcCnrC1Iy tn Dni1
with an unlimited authorized capital
stock has issued $500. first Pfd. $500:
second Pfd and So. 100. 400 common
stock which is now outstanding. OF
this issued common stock the Penna
Railroad Co, owns So 1906 900: the
Penna. Co., $4,O0O,O0O and the Northern
Central Railway Co.. $1,500,GOO. 1t
thus appears that the Pcnna. Railroad
Co, and two other companies which
ii controls own in the aggregate $l5,-
630.0u0 of the common stock of the
Chesapeake &, Ohio Railway Co.
| THE foregoing statement shows the
extent to which the stock of the sever
al railroad companies named in the
resolution is owned by any other rail-
road company named therein.
In addition to these facts of stock
ownership the report then gives the
names of the officers and directors OF
the several railroad companies named
in the resolution on June so, 1905. The
report concludes as follows:
From the general knowledge and
Information of the commission, the fur
Their statement is warranted that, since
the acquisition by the Penna. Railroad
Co.. and the companies controlled by it
OF the stock Of the Baltimore & Ohio
Railroad Co, the Norfolk & Western
Railroad Co.. and the Chesapeake &
Ohio Railway Co, as above set forth
the published rates of the several rail-
roads named have been better main
tanned and in some instances advanced
and that there appears to be less COM
petition i'll rates between these lines
than was formerly the case; but this is
also true Of competitive rates general
ly in other parts of the country.
AS TO whether the facts hereinbefore
stated show. or tend to show. viola
ton of the act of Congress. referred to
in the resolution the commission cx-
presses no opinion. as it is charged with
no duty in connection with that enact
mert and has not authority to deter
mine question arising hereunder.
"All of which is respectfully submit
led.
MARTIN A. KNAPP.
Chairman"