Evening star. [volume] (Washington, D.C.) 1854-1972, 1913-03-04

Income OF pre-
vious year........ 3.to2.S6' "a 80. -.
Charged to Capital Account:
Road. ........-.-- s3.602. asa;
Equipment 3.6lo.4o2 50
sIl7o6ss7 81
Under the Balance Sheet prescribed by th.
Interstate Commerce. Commission. the Road and
Equipment Account includes not only these can
itsl charges. bnt also similar expenditures made
out OF Income since June 30th 1901. Therefore.
the expenditures charged against Income and
against the Reserve for Additions and Better
included
The Additions and Eetterments exp mixtures "s
the Harrisburg Portsmouth. Mt. JOY AMI Ian
caster Railroad and the lines of the t'rited New
Jersey Railroad aud Canal Company. both opsr-
have also been included inder the Road anl
Equipment .,connt IS LEASED Lines-Road"
Expenditures during Io1a. $4,000. sl.9.9, ieoysi
Expend lures Juar Both. 1907. 1"
December 3ist, 1911 ............. $40 go II
1890 Ia..l
An onsetting liability appears on til crsdi
Property since June ioth. 1897. thFough Income.'
in which is carried rot only the S5.4ai.6s5.o'
hut also the payments through Income ON account
at Car Trust Certificates amounting 60 Sa,Sl.-
~. 80 for 1912. aud s63I.6iios FOR previous
years. aggregntilg sa.o33, od7s6
ON accoun; Of principal ana interest of Water
supply Trust Certificates s,24.3 81 were rn-
pended during the year AMI charged against
Income.
The construction OF the New York Connecting
Railroad owned jointly by this Company and
road Company. described In the report OF La,
wear. is proceeding Additional contracts hzv"
nren AWARDED for f,nndations ani masonry 81
Piers for Bronx Kills Bridge. Randalls island
viadnet Little Hell Gate Bridge: snd Ward.
the East River Bridge on Wards Island and Long
Island city: ard for the Long Island Niaduci:
for foundation and masonry between Lawren,-
and Stemler Streets: and Tor grading and masonry
l.etwecn Its connection with the Iennsylvsnla
Tunnel and Terminal and tie Long Island Rail-
roads at Woodside Avenue and Fourteenth Ave
nue..
TIE increasing traffic between Pittsburgh and
Buffalo Via the Allegheny Division and the West
srn New York and Pennsylvania Railway
quires the construct ION OF three tunnels and the
reduction OF grades and other improvements ON
the A!ieeheny Division between Pittsburgh AMI
pro,ements OF the railrond and yard facilities
the said railway between oil City IND Buff
fao. via Brorton and the ''hautauqua B.anch 10
fully utilize IL the principil route for
passenger and freight traffic between these citie..
and he work las been authorized As the result
restricted 10 relatively short distances between
the said cities. and this route. which WAS o.
over IS miles shorter than the present route via
Oil CITY. the Salamanca Branch. and Dean. and
which will produce satisfactory operating
mics. bur its use will postpone for several
years the double tracking and other expenditures
the present -outc.
To meet the Construction and Equipment eI-
sylvania HALLWAY during the wear. Advances
agyregating s:J2a 30 made by this Com
pans; ana charged ggainsd me ne, income OF Ire
Iured to provide funds Tor the Improvements
heretofor" mentioned On that railway during tie
year 1915.
On the Cambria and Clearfed RAILWAY. tie
Cherry Tree and Dlxonviile Railroad, and the
Pennsylvania. Mouongahrla and Southern Rail-
rond. vartcns snort branches wee built 10 rea eli
coal mining operations.
This COMPANY advanced slsi.59l SO 10 the
Cambria ard cl.arfieid Railway Company IA
meet It's construction expenditures. which Wa
charged against the net Income Of the Lessee
Company.
II has been deemed advisable TO absorb the
Cambria and CleaIied Railway Company. which
this Companr Ia connection with its main line
the construct IN of that rad aud its several con
stituents having been promoted 10y this Company
for the DEVELOPMENT of the btu'nnous coal traff1r
I'm the Clearfeld region. The necessity for main
taining that Company as a separate corporation
no longer exists and the agreement providing for
It's acquisition will in accordance with retiee
given Ia the stockholders. he submitted for ap-
prevail ut the annual meeting.
THE sum of S94 40S94 advanced 10 tho
! PENNSYLVANIA. Monongalela and Southern Rail
road COMPANY 10 meet its construction exp-ndi
lures for l3l2 for which II reimbursed this Com
pany by the issuance of its stock and bonds In
equal portions.
4 freproof grain elevator OF enlarged capacity
and modern facilities is being erected bv the
Girard Point Storage Company at Girari Point.
phiiadelpllia. TO take the place of the present
elevator.
On the Philadelphia Bal; fmore and Washing
ton Railroad. the work Of reconstrgcting the
bridges over the Gunpowder and Bush Rivers IS
proceeding. and viii be finished during 1919.
The reconstruction of tue bridges over Steamers
Run. Back River and Gwynns Falls win also be
undertaken In the present year.
The installation OF automatic block signals on
the MARYLAND Division has been completed be
tween Washington and Baltimore. between Prfp-
cpO and Iron Hill. and between Ruthby and
Wilmington. and the work will be continued
On the Northern Central Railway the work OF
enlarging the Mount Vernon Yards Baitimore
, af En- pa fpl1 nndfn md af
vile Yard are also being enlarged and improved
to accommodate the increased traffic. These Inn
provements will probably be completed in 1913.
The execution and delivery Of the proposed
lease 10y this Company Of the railroad. property
Company is still DELAYED 10y litigation. rnder
its provisions. which have been fully explained
rental parnents became effective January list
1911 and accounting between the lessor and
lessee from that date VIII lie necessary u and
livered In conformity with Its terms and ccndi-
tons.
The wilkes-Barre Connecting Railroad Com
pany WAS Incorporated during the year Jointly nv
this Company and the Delaware and Hudson
length. from Buttonwood Yard the Pensyi
vania Railroad. west Of the City of wilkes
Barre. to Hudson tie line of the Delaware
and Hudson Company. to facilitate the inter
change Of traffic between the two roads and
of that city. and via the trucks OF other rail-
roads.
The surplus property fronting Seventh
Avenue between Thirty second snd Thirty-thrd
Streets. New York City. owned ny the Peansyl-
vania Tunnel and Terminal Railroad Comnany. ~
subsidiary of this Company. has been conveyed
to the Pennsylvania Terminal Real Estate Com
psny looking to its future development.
During the the 'Omnanr made advances
q tn" Long Island Railroad CsHnpRuv nggrPgatinc
2.G2a 0HO for the improvement or its railroad
and facilities. and tho construct ion "f new lines
and equipment and will receive therefor securities
OF that Company.
Minor advances were also made to tho Penn
syvania Tunnel AMI Terminal Railroad Company
In 1912. for which lis certificates OF indebtedness
to this Company has been issued.
The pensions paid during the year amounted Ia
S646 1904.
The stockholders will he asked to authorize
increase in the annual set apart for pension
purposes from 100000 to s750.C0D per 8nuuD
and to give authority TO the Board OF Directors 10
such extent may. from time to time. be neces
sary to meet the purposes for which the Pension
Department created: such increase To be
renorted TO the stockholders
The additional appropriation is Decessitated nv
the increasing number Of pensi0ned employees.
especially between the ages Of 81 and 90 years;
and the advances In wages made from time 10 time.
which increase the average pension allowances.
The securities held by the Company December
iucd a direct income during the OF
sl4.521 .49l SO During the year tn" Company
Increased It's holdings of Norfolk and Western
Railway Company Common stock. 10y 81. l0p.aD
through the conversion of like amount OF Norfolk
ard Western Railway Company Convertible bonds.
TO which il had subscribed nj mar. during the
year aud also acquired Sa,udog0 of Pennsyi-
vana Terminal Real Estate COMPANY stock
Effective Nav Sth, 1872. the name Of the Buf-
Farx all. IAixa c.,e rsvar