The Washington herald., 1913-03-04
REVENUES SHOW
GOOD INCREASE
Annual Report Of Pennsylva-
mia Railroad and Its
System.
EXPENSES ALSO HIGHER
Reconstruction of Bridges Between
Washington and Philadelphia to
Be Finished This Year.

Tho sixty-sixth annual report Of the
Pennsylvania Railroad and its system
shows the wonderful business done by
that company. 1t owns e.12S miles OF
line, leases 1856 miles. and has 81
miles of canals and ferries. II shows:
That the total rail operating reve-
nues were s17<,607.5ss.22 the largest
In the history of the company. an in
crease of s17.120. 1852. or 1887 per
cent. as compared with 1911.
The increased express traffic resulted
in a greater gross return to the COM
pany The future effect Of the parcel
post on express revenue cannot As yet
be determined. nor is II known what
effect the change in express rates or
dered by the Interstate Commerce Com
mission, will have upon the revenue
received from the express company
operating over its lines.
In the transportation Of United
States mails the revenues show q de-
crease. although the volume Of the
traffic increased. The rates are fixed
sional investigation of tho subject at
the present time. II Is hoped that
after due consideration is given to the
value OF this service and to the special
facilities II requires remunerative
rates will be paid.
Increased .EXpenseh
Rail operating expenses also are the
largest in the history OF the company.
showing an increase of s13.4o9. .551. SO.
or 11.s4 per cent. caused principally by
the increased traffic, which necessi-
tated not only greater outlays for
transportation expenses. but also for
repairs and renewals of roadbed.
bridges and buildings. signals and In
terlocking. and for other items which
add to the safety and comfort OF the
patrons and employees Of the road. al
we'll as for repairs and renewals OF
equipment and increased charges fos
depreciation.
In the wage questions that arose
during the past year with tho engine
men and fremen on the railroads In
tho Eastern district of the United
States. represented by their respective
brotherhoods. a general strike was
averted In the case of the engineers
by the appointment of special board
OF arbitration. consisting of seven
members. one selected by the railroad
compa MES. one by the Brotherhood OF
Locomotive Engineers. and the other
hve appointed by the Chief Justice OF
the Supreme Court of the United
States. the presiding Judge of the Com
mercs Court, and the United States
Commissioner of Labor. collectively.
Increased Revenues.
The net revenue of rail operations
shows an increase of s3.11o.e3s.ss.
Taxes continue to increase, the
charges for the present year exceeding
those of tho previous year by $685.
6492s.
The tonnage for the year increased
1852 per cent and tonnage mileage in
creased 1885 per cent, while the freight
train mileage increased only 1925 per
cent, due to an increased trainload Of
2.17 per cent.
The passengers carried increased 7.42
per cent. with increased passenger
face of this the passenger train mile
age increased only 1.ss per cent, due
to the average number OF passengers
per train increasing Asa per cent.
In the deductions for lease of other
roads the larger payments are due to
the increased revenue earned on roads
operated on the basis Of net revenue.
The decrease in the interest deduc-
tions for funded debt, compared with
1911. was due to the maturity and pay
ment on May l. 1912. Of the River Front
Railroad Company hrst mortgage
bonds and on November I. 1912. of the
Pennsylvania Railroad Company 31s
per cent convertible bonds OF 1909. and
also to the payments of principal due
on equipment trust obligations.
1t will be noted in the income state
ment that $4,000. 900 has been appro-
priated to the reserve for additions and
betterments.
On the Philadelphia. Baltimore and
Washington Railroad. the work of re-
constructing the bridges over the Gun
powder and Bush rivers is proceeding.
and will he finished during 1918. The
reconstruction of the bridges over Stem
mers Run. Back River. and Gwynns
Falls will also he undertaken In the pres
ent year.
Pensions for Employees.
The pensions paid during the year
amounted TO ss46.S75.5i
The stockholders will be asked to au-
thorize an increase In the annual sum
set apart for pension purposes from
$4,000 to so. 900 per annum and to give
authority 20 the board of directors to
hereafter increase the pension appro-
priation to such extent as may, from
time to time, be necessary to meet the
purposes for which the Pension Depart
ment was created: such increase to be
reported to stockholders.
The additional appropriation Is neces-
STATED by the increasing number Of pen
stoned employees. especially between the
ages of g and 50 years: and the ad-
vances in wages made from time to time,
which increase the average pension al