Evening star. [volume] (Washington, D.C.) 1854-1972, 1912-03-05

IL
the Northern Central Railway Company. With
fully e,rlainsS in the Tor sT os .o
panies and approved by the Public Service Com.
mission Of Maryland and but e. .ns ID:smsni
by small number OF minority stockholders In
the United States Circuit Courts for the Eastern
District Of Pennsylvania and for the District OF
| Maryland. respectively. said lease would have
| been promptly executed and delivered Under
| its provisions the lease ard the rental payments
became effective January list. 1911. and tnere-
| fore when the lease Is fully executed and deliv-
cred. it will pecessitate just and equitable ac-
counting between the lessor and the lessee. In
such manner as viii properly protect aud pr.
| conformity with It's terms and conditions.
Expenditures have been made by the philadcl-
extension Of the four-traet system at various
points. and the construction OF car load delv-
cry yard at New Jersey Avenue. Washington.
i u. c.
On the Delaware Railroad a STATEN was
| constructed at Dover. Delaware. and ths second
The Pennsylvania Tunnel and Terminus: Rail-
road Comrany has issued Its certificate OF in
| in settlement for the construction Of the New
York Tunnel Extension and Station. including
| The year 1917, for the completion OF its railroad.
This certificate and $4,000 000 OF It's full paid
Capital stock. are included in the detailed List
of Securities owned by this Company. and are
carried on the Balance Sheet at valuations re-
owned by the Pennsylvania Company. The re.
in the q General aI"f Ba i1s Sheet.
| The Company during the year made further
advances arsrcsaiine ASH 900 90. TO the Long
of It's railroad and facilities and the construc-
tiGn Of new lines and , sanipnent a aud win r,
debenture of that Company.
In pursuance OF action taken af last annual
saed n ihe %"se sspn s,"ea s.s b.sn
previously owned and ITS road operated by this
SmPsny Was absorbed by and became p.rt or
Effective May 1st. 1911. the Bedford and
HALLWAY Eomsng and the F sSnN
lines OF tie system. in central Pennsylvania.
were MERGED and now constitute the HOLIDAYS
burg, Bedford and Cumberland Railroad Com
| pany.
On the Cambria and ciearheld Railway. tho
gun and 1i'I It viii III be Completed in isIs The
Burley Branch was completed during the year
1ee ..nn fr ts as m
operation. This Company advanced ss520ssS.
to meet these and other construction expendi-
lures which the Cambria and Clearheld Railway
assiast Profit and los Loss Account : ''e A
ment on the western New York and Pennsyi-
vania Railway. mentioned in the last annual re-
its construction aud equipment expenditure
for the year; advances agrresatins ssss. 1Dos
New York and Pennsylvania Railway Company.
which Is substantially owned by and Is leased
able TO pay the same, this amount was charged
against the Profit and Loss Account.
ILLS from the New York Connecting Rail
road, road Company to cover advances made to the
Sarns sns Tor ana
The New York Connecting Railroad Com
pany-the capital stock of which has been Owned
for many years one.half each by this Com
pany and the New York. New Haven aud Hart
ford Railroad Compapy-is constructing rail.
road from a connection with the Long Island
Railroad. the boundary line between the
Borougl,s of Brooklyn and Queens New. York
the East River and Randall's and Ward Islands
to connection with the New York. New Ha-
in the Borough of BRONX and also a connec-
tion from said main line 10 the New York Tun,
City est Contracts haVe been awarded for the
stea work for the East River Bridge. and Its
Rronx borough sa pps ON the south into the Bor
ougi Of Queens. Long Island
npSn the completion , % the S and sa
the Long Island Railroad Ccmpany between the
%nrs .r Sa its Is. Bay hSfe ra intern
ichanged between the PENNSYLVANIA and New Ia
ven Systems. now TRANSPORTED by floats between
the Hudson River and the New York. New Ha-
ven and Hartford Railroad Company's lines ct
be foated from, Greenviilc. New Jersey. to BAY
Ridge, Long Island-a distance OF about ~
ris. The connection with the Tunnel Exten-
sion will permit direct al-rail movement via
the passenger traffic interchanged between tho
two systems. The New York Connecting route
will materially increase the facilities for. and
Iexpedite the movement OF the New England
passenger and freight traffic and n-, win avoid s
Harhor. and the delays which often arise in host
service due TO fog. ice. tides and the crowded
About three years will be required to construct
the New York Connecting Railroad including
its East River Bridge and Viadncts. and the
cost thereof-estimated at about SID. 0o0O 600. In
addition to the 100000 previously advanced
panies and represented by fits capital stock
and notes.-will be provided for through an is
sue of its securities: The principal and inter
this COMPANY and the New York. New -Havrn
and Hartford Railroad Company. and the line
operated pursuant to agreement between the
two Companies. under which they Will par
ticipate In its profits. meet it's deficits.
The securities held by the Company. Deem
Der 3lst. 1911 Mt valuation Of 1921 $40 I16os:
produced direct income during the year or
$14. 450. 5a395.
Under the provisions Of the Pension Depart
ment the following officers were retired
Chas. +. Pugh. First Vice President on Feb
ruary 2stb. 1911. after a service of ffty-twc
Theodore n. Ely, Chief OF Motive Power. June
3Oth, 1911. after forty-three years service. and
Geo. v. Massey. General Counsel. December
31st. 1911. after thirty-hye years service.
OF the Board and their associates. that. after
suci faithful and able service. SO fully appre-
Iciated by the Board and so well known to the
Stockholders. they may enjoy for many years
and responsibilities.
( the Board,
JAMES McCREA.
DE- TUE AxNI-AI REPORT COMPLETE gY