New-York tribune., 1912-03-05
55do.oSsl IL
.SI4s1e.@o.6b


The charges :. eap!sl Aesouns We're s,,os fur; r;
the Ridgway and clearfed Railroad, making
the total charges TO that account for the year
Under the Balance shAet prescribed by The
Interstate Commerce Commission the Road
and Equipment Account includes not only
these capital charges. but also similar expen-
eltures made ou, OF Income since June Ocs sun
Sheet Therefore, OF the foregoing s696o
ss7.29, Income expenditures not not pr &propseriy as
the lines owned and on the Harrisburg. Ports
mouth, Mt Joy and Lancaster Railroad Com.
Psny have been so nsqSSsd IN shs K0ad SSt tbe
balance OF So 326 2e5 25 ieasehold expendi-
lures for the United New gersey Railroad ian ana
ply Trust Certificates are accounts not dea!t
with in the Balance Sheet OF this Company
An esetti.s asily spPssIs nt;.a on RsdSn tRs
10 Property since June 30th, 1907. through IN
come" IN which is carried not only the $S,-
come on account OF Car Trust Certncates
amounting to sS.076s53O0 for 1911, and $6Sl.-
8i4o7 for previous years. sggregating S6.7oi'-
There is also included IN the General Bal
ance Sheet in the Cost OF Equipment, sl.Is2-
8S7 "a covering the net expenditures for equip
ment purch ised during the year 1911 out Of
the Reserve for Accrued Depreciation OF
Equipment. established under the regulations
OF the Interstate Commerce Commission. From
the total cost OF equipment u also deducted
the Reserve for Accrued Depreciation ot
EQuiDment, Z.
book value OF the equipment can be ascer-
tanned.
only 20 the extent OF the original cost OF any
equipment retired. but as the original cost Is
not s,'ilcient to replace the retired equipment
and provide for the accrued depreciation. the
company in conformity with It's established
practlce will maintain the standard and value
Of IT'S equipment, and the amount Wnich re-
mnInsd unapplied, December 3lst, lell. viz
81 900 OPS 35, will be spent for equipment or
dered out not ye: received. ,- --.-
al ,,riiii,es IN the civ Of Philadelphia, the
necessity for which was explained In the last
annual report, has been given most careful
consideration during the year. and the Board
~ Directors have about concluded that II
should be accomplished by increasing the
tracks and platforms and enlargns the station
facilities at Broad street station ana North
Philadelphia Station.
consideration Is also being given TO the sep
aration OF through and local train trafiic at
1road street station. and whether the electri-
hcation OF some OF It's suburban lines would not
aford material relief az tsas wbsp ma s,papes
now being made by the experts have been con-
cuded. -, .,. -, -. o.,.-
lines in which this Company Is Interested was
on the Northern Central Railway in Baltl-
more the construction OF the new passenger
station and the enhancement OF facilities and
re- a arrangement OF tracks, were practcaliy All
completed during hness sne Mbcb was wsi psd for
Jointly by the Philadelphia Baltimore ana
Warrington Railroad and the Northern Cen
zeal railway Companies. The old round house
M Mt vernon Yard was abandoned ana the
service is now performed ct Orangeville.
There is practically no change TO report In
Tho status OF the proposed lease by this Com
many OF the railroad property and franchises
=, The Northern Central Railway Company,
which was fully explained In the report for
ioi0 The lease has been duly authorized by
both companies and approved by the Public
| Serviea Commission OF Maryland and, but for
,ba irnpediment occasoned BY impending litl-
| rstion Instituted by a small number OF mi
5oritv stockholders. in the United states cir
cuit Courts for the Eastern District OF Penn
syiyania and for the District OF Maryland. re-
| ssS2actively. said lease would have been prompt
| ~ sractited and delivered. Under It's pro-
,tsions the lease and the rental payments be-
came effective January LIST. 1911. and Therefore
| when the lease is fully executed and delivered
| n will necessitate u just aud equitable ac-
| counting between the lessor and the lessee. IN
such manner as will properly protect and pre-
/ serve the rights and interests or each party IN
| cnrformitv with its terms and conditions.
! Fxpenditures have been made by the Philadel-
| nbia baltimore and Washington Railroad for the
| f~tcnson OF the four-track system at various
,oints and the construction OF car load delivery
| Ira n New Jersey Avenue. Washington, ID. g
| nm the Delaware Railroad, new station was
! onstructed OF Dover. Delaware. and the second
| .~a~k extended from Broad Creek 70 Laurel
| The PENNSYLVANIA Tunnel and Terminal haiI-
| ~oad Contan has issued its certincate OF IN
aebtedness FOR ssis6l, 42o.44. to this Company IN