New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-03-05

For the purpose OF meeting the future needs Of the
win be asked S TO suhqr1e roma ; timex I, 10
an aggrega.e OF S;, ana ,h EoaTd ~ Dirertors
may prescribe But II may be 20 the Interest OF the
Of obligations bearing lower rate OF interest rather
reouesed 70 increase its Indebtedness time
the aggregate amount in such form as may 90
requirements Of the Company the will be
cent collateral notes this being deemed advisable
than sale long-tem bonds at the prices now pre-
The prompt recognition of growing needs Of the
country increased and improved railway facilities has
resulted IN tho greater portion = the necessary
been made on most favorable terms both the cost
the work and the rates at which the funds Mro Se
,or ACTON and substantially from ali branches Of in
Ssry have made the present rates for money exception
ally high This T" both sf SSe ana municipal
70 taxes reduce and force upon
turn would TO make wise policy on the part OF
your company any, 70 TsertakTgs and resric, it's ex
pendi,ure for tho present to such work as Is no" uhoe
The movement OF both freight and PASSENGER tTaSae
n5 mileage fer 1905 being greatly in that for
1905 and much the largest in the history OF the COM
There was slight increase in the AVERAGE rate
aa ot h sSS aS tRat the higher scale Of
to your employees only vent into ssGS on bs prices Of
ali materials purchased by Company. both Of which
must sftan eeting ali liabilities and paving dividends
asgrsge;ng .H and half per SsT ana the fsT @
surplus OF income S11 cot 47&54, OF which ssTO1
47s54 applied toward the Extraordinary Expendi
ture year and 81 500 10000 transferred TO an
Extraordinary Expenditure Fund -
As already noted the profit realized from the sale OF
securities Of other companies credited 70 your
Profit Account: and against this proht there
has charged off account OF the cost OF con-
structior OF New York Tunnel Extension the sum
600 and the balance OF S2.2OOS4S06 trans
ferred the Extraordinary Expenditure Fund.
The heaviest OUTLAWS during the year. between Pitts
burgh and Jersey City. in addition that involved I'm
the completion OF this line. your four-trac
system yards and other terminal facilities. right OF
and real estate. and the procurement OF perma-
water supply.
the Company increased 20 the extent OF % sO3
through the issue OF securities under the usual
car trust arrangements
The aggregate expenditures for construction. equip
ana real estate during the your Main
Line between New York and Pittsburgh. including
trusts were $40 $50 800 o. which sf74I1 Tss T3
charged capital account and s12 800 1877 OF against
income OF the There also charged
against the income for the the amount OF s04T
356s7 advanced 10 the Western New York ana Penn
aylvaniR Railway for right OF and real the
construction OF the Ebenezer Branch On the branch
lines the main outlay for Fidngs and additional
terminal facilities. and aggregated S1.ssA. 294 81
The principal expenditures for the VIII
he IN completing the extensions four-FncN
ten now under way on the Middle. Pittsburgh and
tension into and through New York and upon the
Terminal Station In that city: the right Of
and real required lines
in the last report and upon additional motive power
The progress upon the Tunnel Extension has bean