New-York tribune., 1912-03-05
GENERAL REMARKS.

! Il Will Be noted in the General Income Ae-
count that while the revenue from passenger
Transportation shows an increase Of sss>'loe'oS
| over 1910. II being the largest IN me Sot,' i,
! pany's history. the gross revenues OF the tA,,
| road lines fog the year snow a Sacrsass In
! rne-chEncise freight revenue and su,aI oe-
1 crease IN coal ana coke revenue: Ine oeSt e@Ss
.avlSS o, si5si2ss 10. Or I.Ss, per cent. IN
operating expenses 50 that the decrease IN " " !
re, operating revenue for the year eompsfsa n,,si
| tion expenses Increased chiefy because me m
| creased wage schedules were operative hs b, 81
| tire year. as against only for about e'sH'
Taxes. which have been continually inere11s- as:
ing in the iast few yesfs s.s, .hS% sSS due prn.
! clpAly 70 the taxes psid on the eompis'ed
! New York Tunnel Extension ..,.
/ OF ne. revenue. the decrease !s due principa!Iy
to the absorption by the Penniy!vsnts sa an
GomP1ny It yo,n s MEN The nayfrient Of ts lease
/ hold rental consequently ceased. A..
The greaier part o. 6nee Geeresse S,'s 20 ~. pay
I enent az maturity, in that year. OF the General
! Mortgage Bonds and Short Term Notes re-
| ferred 10 in the last annual report.
ANer mesting ali liabilities, including the
necessary payments 10 the sinking FnneA Hs
net income for ~. he year AZ vas oriy si5f ISs o.
! Compared with 1910. is due 10 the saving re-
! suiting from the retirement OF your nxed onll'
cations az expiainea ,na IN tbroprS the issue OF
eapital stock. Out OF the net income remain,
ng $50 I5eil was ass sontr1oa nd SiyIa.nds Of per
I cert were paid aggregatins SO 300 so..z 20,
leaving balance OF sl1o4L737S9' q decrease eo
! 80 81 0Oe AGA az compared with lolo Iar
o. Trusi pr,ncipal payments OF s3o76S53oo Ex-
! ,raordinary Exrenditures OF S2.26o sSI ~ were
also made and S4.000000 90 transterreu 10 a ,ne
! Tasserve for Additions and Betterments 10 pro
! ttde snch additions and betterments as In the
| Judgment OF the MANAGEMENT shouiu ~, ,ne D
charged to Capital Aeeoun5o Lo ana oa7 40 was cred
| balance OF Net Income Sl''of'''f'' was
rh4re were charged against Proht and Loss Ac-
eount ss hsreinafter stated, which. with adjust,
! Irents made 20 sundry accounts HselIT, =.
81 S5i 65I o. leaving the bslaneeto, tns SpI s7
profit and Loss on December '4S'' -'--'
As ~ foreshadowed in the report for the yeaI
1910 allotment OF zen per pss,Iocthnlder, Of record
! So htb 1911 and was fully subscrloeo 'oi' IVA
: zlng at par Sii 26l. 900. .,a a,,inue,t dur
ir1 me Year, consisted Of the followins:, I'm
- ddItiSnaI property for enargtmeh, ana '',,
provement OF The tre'sTt uorSisbuTs sS ana Union
own and for the abolition OF grade crosS'nss
/ hereinafter mentioned. - ,A liza. ., the
! Right Of way for snall ofahS" ''''O3 "
Iun,rds pnder right OF way condemnation pro
ceedings on the Darby creek 10" sna n1rehase o.
| SSt,ioraI right OF way between Colonis ahs
WaverIy New Jersey. the eastern m ssToN ga Nss, ~
! ,be relIef line between Morrisyihe' Ia aho w"
Sonsiderabie progress was made In tse reoyi,r Ynp
ing OF the Cortiandt Street 1ry:,eS IsrIy, in iei2
~ e., four-traek elevated line and passehgeI y
station al Bristol. mentioned IN the i ast a,r;n
,ort trere completed and put In service uui iis t
| ~ ysar and all main line grade crossings ~
| ,he+ 'cIfv were thereby eliminated. -, a.,
The Newark Rapid Trsnst ans Shies Sne proyides
tsousn, multiple unit electric service 10 ans ns
from the Hudson Terminal SottaGTr , sns ss,sr sta
stysets New York, via Manhattan IIans.er @ SS as
| stIo' tsrL place Newark. New Jersey Na'
| completed and placed IN oPe'H''o" ''
! 1911. -, A.. .as,ern section of the
IL, 49, svstem between Morrisville, Pennsy-
venia and Newark New Jersey, was unasi,t,r al
10 bngfnning the construction OF two adaitivu,a ,,,
y y aatnining the present four-track main une
| sa,, C,olonla 10 Bay Way. West OF ElIaoS,tn, e,,
nciudng the elevation Of the existing man 'i,s tn
tracks through Railway. The extension o. iy,'
ia ,-,cS svstem through Elizabeth 10 NeSSrkk,
Including line and station improvements, tn,nal
carried forward when idsd 5ne ne'e''"''
Grade crossings at Coatesviile, Cnr'ss,ana ~ sani
Jeanette. Tranord ano a. Lsshpe ,Si snnstruetIot
! Pittsburgh. were aoolAneo " '"e ''''''
ol rSvv freight transfer station was constructed
- fhe year at Harrisburg for the purpose OF
9euaitii.atina the movement OF merchandise fresh'
and increasing csrioadins x,.,. %,
| ''i1 'i11onstderabIe extensions TO the various car
! shSos and additions 10 the tools and machinery
| yrsre made during the year. -, ,.,,,a,,, a
The improvements al Greenseurg, incluolhg
lho sssnger station and the revision OF grade
neSS S eomnle,lon Of the four-track system, men
,tn,sA In the last annual report. were pracueaiiy
tompIetsd during the year 49,,
rhla cbange OF grade and extension OF the track
! ,,dt,,ies in West Brownsville yard, 10 reaer
| re elevation OF the pew double track Mononsa-
@ @ise pt,er bridge at that point, were begun our
| @ @he,a ~ year and contracts have been awarded
,ns ths construction Of The bridge. 70 replace th'
| Dassnt .ol single track bridge.
pgh Tha Northumberland Classification Yard ais
,T,rsd in the last annual report, Jointly ownec
me .tSn comnany and the Northern Central RAN
| DIV .nss S,mnany. was completed during the year
and placed In operatloh .,~,,.., ana, aopbIs-
| ne ~ rr,dse over the West Branch OF th'
track traek,ita,na River at Montgomery, 10 replace
the present sinset,acs BRIDE a, 1t, tass S point
| was uaSgregate expenditures made by the com