New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1911-03-07

prosal BY the Boards Of Directors OK me 49, 20
tive Comuanles submitted 70 the stockhoI.s1, y
the Northern Central Railway company, anI
rroved NV the vote and consent OF sharenoos.-
representlng over 90 per cent OF me WIZ, 1900
which included over - per cs RsiIroad COM
many. The lease. and cohs'i I'm D. IT, Ssryic.
CO ital stock now before the tuDa. , -. -.
Commission OF Maryland Tor its app,O's o.
auirod by law. Upon such approval Iie -
could become effective but Dy ttAsvn y
si,itg Instituted bv dissatisfied minority soc =
hoilers one in the United states circuit CVu', - -
the District of MARYLAND ana me ONE. ~ 1.-
same court for the Eastern Distrle. 90 pos-s
svlvania. your COMPANY. bv action OK - sl 49,
~ Directors has deemed Il prudent 70 ueS.s.ss
that tt shall not be- required 20 eNrruN 80.
efectuato the said lease. " spp,otts.s ~
Public Service Commission OF Mary tanl. ~ :,
take POSSESSION OF the railway and properly W
The Northern Central Railway Colp ahy. un...
each Of the two suits against the latter CO'p-..,
ana tbe Pennsylvania Railroad Company 10,
be adfudcated. Or until YOUR company J. - -,
b, Counsel thar II b. proper % consurn mate nc
-,r,e nrior 70 such adjudication. Tho Northern
central Railway Company mas peth a4'-..l- -
with your Company for almost MY ysars aug !"
that time has hai the benefit OF the rlpest ~
neTf-nce In railroad operation and manassnent
ughics vour Company could give II, anu slDtsn
several previous attempts % lease that piopess.
% the Pennsylvania i.alFoaa ~ol.par. 90. .,.,,t,,
Nh successful because or the tack oi
among the Northern Ceptrol kaiNay 49,.
holders DO was believed tiat inc tiile "a 80
hon DO vas desirable and prorer Tor your tol--
r.rri, 10 consider lease. Both Companies. ~
reason OF this long affiliauon, their mutL ela
ags a,-eeuenfs and terminal grants, nave De
como - essential IN their operations 70 escn
other and the N0r-hern central hahaay -
ran-y being Gorendent upon me tralnc ~.
Cfe-,es with your system FOR about - per ceht
az its gross revenues. II Is eylcfnt tnat az -
. natrrgi result. and the closer operating 80.
,to--bi- ,ybieh will he thereby Effected caunot
fau 20 be beneficial 10 The Cotnpahles - - -
fc-ri+crv served bv the Northern tentral i-lucs.
Tbis oplulon h. fully justified oy me unailiI''
consent and action Of the holders "i 49, I.-9
v,aforify ~ the minority shares ~ that CoI.-
49, yvithout which this Company declined 20
e,en consider the lease. Inc purpose IN 49,
COMPANY an3 the action Or .o1r 49, - -snor.as
t.b 81 ctbcr matters II this report, Tor tho a.
nroval and confirmation 4 the stockholoers'
RELIEF, SAVING FUND AND PENSION
DEPARTMENTS.
The ox,enditures for pensions for the year
have been SG54 - or 500 'lo.-o ~ ,,s, =,
I tie sum appropriated by tno sdllD1s S'i'|N
/ affiliated in this Department. - -.
I --.So rous Increases iu employees wages SinC-
7 the establishment % this DEAN n. 20
/ -s+hsr 1yith a continued growth IN the nuinO~..
l m retircments under the oJ-os ca. 49,. -,
tho Pension Regulations, when tAS sa ~ ira
9ia nor deem a. wise. In The test interest," y. -.
ulu - 20 rasfrict an tend 20 cause heavier
| 6~ain ii-on the pension appropriation "a,
To cover this COMPANY pol', S, %, ,be year
/ your Board found u necessafy 70 7ND 49,, a..
/ s9ditionaI sum Of S35.2iIlo which you ar
as2ef % l,da.libolders will also be requested %
/ ttLnee-ize an increase In the annual sOn ses
aDa-t FOR pension purposes from sooV'o"" ="
/ 500. coo
Of the Beard.
JAMES McCREA President
TIT AxNrrAL REPORT COMPLETE. BIZ