New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-03-04

and TONNAGE mileage increased - $50. while
the freight and train mileage Increased ohll
lo95'e. due to an Increased train load Oh
2.l7f. ,,-
The passengers carried increased l.4?Ss'
with increased passenger mileage or o.'l,e'
while IN the face o, this the passenger train
mileage Increased oniv $50; due to the az
cragc number ~ passengers per Tram III
creasirg is4ec
In the deductions FOR lease OF other roads
the larger payments are due 20 the increased
revenue earned on Roads operated on the
basis o. Net revenue.
The decrease In tho interest deductions Tor
funded debt compared with 1911. was due TO
the maturity and payment on May LIST, 1917.
~ the River Front Railroad Company Flrst
Mortgage Bonds: and on November LIST. lpi2.
~ the Pennsylvania Railroad Company 3ie Z
Convertible Bonds OF 1902. and also 10 tho
payments o. principal due Oh Lqu'pmen,
Trust Obligations
rortant and extensive necessary Improvements;
n largo portion OF which should not be charged
N capital Account. and FOR which me heserFe
for Additions and Better ments VIII De ut.ized'
such as The improvements OF .jroad street sta -
ton. Philadelphia. and It's approaches ahH
facilities. Improvements on tho Allegheny ID
vision hereinafter referred TO. the elimination
Of rrade crossings ana elevation OF tracks on
the New York Division. from Coionia eastward
through the city OF Railway. 10 BAY way
Elizabeth. and slight change OF line IN tne
city o. Elizabeth. where the line has ALREADY
been elevated. II also contemplate TIE abOll-
ton Of additional grade crossings In Phiiadei
phia. Lancaster. Lilly, JohnstoHn. Freeport.
Williamsburg Pittsburgh. and other points on
IT'S lines when the local authorities co-operat"
In making tho el.minations. The company also
has IN contemplation the construction OF ne"
doubie-,rack steel bridge over the Allegheny
River az kskiminetas Junction on an improved
line TO take the place Of the present single
track bridge.
Tho CniI,al stock was Increased over the
previous year by $4,000 OF which 5000 was
issued 81 exchange for Fractional Convert.blc
Bond Receipts. and $50 for Dividend scrip
dated Nav 81. 1893
The Funded Debt and Equipment Trust OBJ
legations were reduced as follows;
Redemption through sinking Funds:
Consolidated Mortgage 3b@s
Bonds due July I. lp45. ...... s66 go 40
Equipment Trust Loan due 1914 $4,000 %
collateral Trust Loan Bonds
~ iue June l. 1913 ........ 5l,WoO
Philadelphia. Wilmington and
Baltimore Railroad ~ stock
Trust Certificates due July i, -.
Payment at Maturity OF.
Ten Year Gold Convertible 3isec
River Front Railroad Compsny's
lst Mortgage 4lafe Bonds .... 212sD M
Equipment Trust obigatiors G4fl, 100 i
Il vii shortly be necessary FOR the Com
pany 10 provide capital FOR the $i0.2.2 300
which rnatured November LIST. 1912 and for
So 49,. 900. 90. OF Collateral Trust Loan 4ikfo
Bonds due June LIST. 1913. together with ma
turing equipment trust obDgationf. ana also
for new construction work the extension and
improvement OF terminals. track and facil-
tiles. and the purchase or equipment. The
matter IN now receiving careful consideration,
but no decision has YET been reached az 10
tho form or extent OF the proposed financing
The issues OF Equipment Trust Securities
during The year consisted OF >. 200 oonuo -.
Pennsylvania General Freight Equipment
Trust Certificates Of 1912. OF which tho
PcrBsylvn Railroad Conipanys proportion
was 81 ,i2 100 90 There were thus furnish ed
Dam 1s atfa nall nm. -
steel undcrframe and steel bodyfraIne re-
frigerator cars: for the Pennsy lvSnla com
panv LOCO steel under,rame anu steer b 69
frame automobile box cars; for the Pits
burRh Cincinnati Chicago and s.. LOUIS
Railway Company 5000 all steel coke Eoli-
dola cars; and FOR the New York. phiiadsal o
steel underframe ventilated box cars and %
steel underframe gondola cars. an aggregate
OF g. 735 cars
made under 10 series or equipment trusts
tho original issue II which amounted TO slo-
900. 900 These series covered $3.50 steel uh-
1crfraire box cars. 1000 steel hopper gon-
dola cars q 600 steel underframc long gon-
dole carr IN service on the PennsyiVanit
Railroad: 800 refrigerator cars. Loo steel
hopper gondola cars. GOO steel UNDERMINE
long gondoa cars. 500 steel nat cars. suo-
leased To the Pennsylvania Company; 40
stecl underfrdme box cars zoo steel hopper
2ordola ears 100 steel underframe long gon-
doln cas- suh-ledsed to the Pittsburgh. en-
clanati Chicago and st. Louis Railway COM
peny: 200 steel hopper gondOla cars. sub-
leased to the Cleveland, Akron and ctncin-
nnti Railway COMPANY: and 50 refrigerator
cara, sub-leascd 10 the Grand Rapids ana
Ineiana Railway Company. representing III
all 1862" cars.
The ears therefore have become the prom
e-ty OF the respective companies which paid
the cost thereof.
The expenditures for acquisition OF prop
ertv during the year were mainly to cover
additional right ~ way for new lines. elm
nation % grade crossings. and for passenger
terminal and station Improvements at Broad
street station, and other points in Phiia-
delphia and for the enlarg cement ana Inn
provemert OF freight stations and yard ia
cIii.ies Mt Hamburg Junction and Greenwich
In Philadelphia. Elizabethtown, Altoona
Cresson VIniontown, rarentum, Peterson ana
New Kenslngton
The block rignsl system on the main line
between New York and Pittsburgh was fir-
Their improved by the Installation OF auto
matte signals on the Philadelphia Division
between Dilierville Block station and BRANCH
Intersection. and on the Pittsburgh DIVISION
between Surnmerhili and Latrobc ana me
work will he continued next year on tbs
Middle and Philadelphia Divisions.
The Cortlandt Street Ferry House anu
Dock New York city. which are being re-
built have far progressed that the TWO
ferry slips are now In operation, and the re-
msinder OF the work VIII be completed In
1913. =,