The Washington herald., 1912-03-05


The charges to Capital Account were further in
creased $50 4.s by the Absorption Of the Ridv
WAY and CiearAeld Railroad, making the total
charges TO that account for he year. ss.oI3.Ou.
Under the Balance Sheet prescribed By the Inter
state Commerce Commission, the Rood and Equip
ment Account includes not only these capital
charges. but also similar eIpenditures made out o.
Income since June 5oth 1907, On the roads embraced
IN the Balance Sheet Therefor, OF the foregoins
v.se5. .s5.2. Income sIpenditures not properly
chargeable to capital account SOC 290 on the
lines owned and the Harrisburg. Portsmouth
Mt Joy and Lancaster Railroad Company have
been included in the Road and Equipmeni
Account for the year 1911. but the balance ol
S.SS, ,S.5. leasehold expenditures for the United
New JerSe5 Railrc<d and Canal Company, and
Sss 5sao for water supply Trust Certincstes arr
accounts not dealt with in the Balance Sheet Of
this Company.
An Odsetting liability appesrs on the credit side
Of the Balance Sheet, entitled Additions TO Prop
CITY since June nth, 1901 through Income" in
which is carried not only the 500 Eeo3, but also
the payments through Income on account Of Car
Trust Certificates amounting TO sos $500 for
1911. and ss, ,si4G for previous years. sssregating
$5.T5.78lo
Thers y aIsn Included in the General BAlanc.
sheet, in the Cost Of Equipment, ~ 6s7 n Gov
ering the nst expenditures for equipment purchased
during the year leil out of the Reserve for Accrued
Depreciation Of Euuipmeut. established under the
regulations Ct the Interstate Commerce Commission
From the total cost Of equipment Is also deducte ID
the Reserve for Accrued Deprrcation Of Equip
the equipment can be ascertained.
Tho accrued deTreciHtion can be reduced only TO
the extent Of the original cost Of any euuipnent
retired. but the original cost Is not sufficient 10
replace the retired equipment and provide for the
accrued depreciation, the Company, IN conformity
with its established pr7ctice, viii maintain the
standard and value q its equipment and the
amount which remained unSpplied December slst
1911, viz: A.20,oS.S. will be spent for equipment
ordered but not yet received.
The improvement Of the Company's passenrer
facilities in the City Of Philadelphia the nc<rssity
has been given most careful consideration during
the year. and the Board of Direc4ors have about
concluded that 1t should be acomplished hy in
ceasng the tracks and platforms and enlarRing the
station facilities at Broad Street Station and
North Philadelphia Station.
Consideration Is also being given TO the separatiou
Of through and local train tnfhc At Broad Street
Station. and whether the eectrihcation Of some Of
its Suburban lines would not afford material relief
at that terminal. This decision win be announced
when the studies now being made by the experts
have been concluded
The PRINCIPAL construction work on the other lines
In which this Company Is interested IS foiloWS:
On the Northern Central Railway In Baltimore
ths construction Of the new passenger station and
the enlargement Of facilities and re-auanRrmeut Of
tracA were practicallt all completed during The
year. well the 0rangeviIle ruundhou.e which
was paid for jointly By the Philadelphia Baltimore
and Washington Railroad and the Northern Central
Vernon Yard was abandoned and the service Is now
performed at OrzngeriIle.
There Is practizlly no change 10 report IN the
status Of the pruposed lease by this Company Of the
railroad, property and franchises Of the Northern
Central Railway Company. which was fully explain
authorized BY both companies and approved By the