Newark evening star and Newark advertiser. [volume] (Newark, N.J.) 1909-1916, 1913-03-22
P. s. CORPORATION
EARNS S34,593,8O8
This Is 1912 Gross Income, of
Which $2,O53,224 Is
Net.
FIGURES PUBLISHED BY
PRES. M'CARTER TODAY
Company Controls Many Sub
salaries and Has $50
Miles of Tracks.

The fourth annual report of the
Public Service Corporation of New
Jersey for the year ending December
81. 1912, was issued today by Thomas
n. Mccarter, president of the cor
poration.
The report shows that the gross
earnings of the companies controlled
and leased by the corporation are $751;
SD. 1890. In addition to this amount
81. 939. $685. 81 was received by the cor
poration as income from securities
pledged and from miscellaneous
sources, making the total receipts of
the corporation for the year s34, $685.
S0847.
The operating expenses of the cor
poration, with its taxes. amounted
to $17,779,4 43.S0. The amortization
charges are $722,077.96, making a
total of $lS,50l 511.76. To this amount
is to be added the bond interest and
rentals of leased companies amount
ing TO S11, 2S9, 07595, and the fixed
charges of the corporation, S2,74a,
a96. IS, making in all total OF $32,-
5405S4.39.
This amount, subtracted from the
total receipts of the corporation,
leave a net surplus Of $2,O5s 224.OS.
Extracts from tho report telling
of the progress of the corporation
during the year follow;
Lenses Road for 900 Years.
During the year Pubic service
Railway Company leased the HlVer
side Fraction Company for perlou
Of 999 years from April /, 1917. Inc
lines OF the Riverside Traction Com
many connect with those of PUBIC
Service Railway Company at River
ion and run thence to the heart OF
the CITY of Trenton, having a totai
IRA cl<aye of about thirty-three miles
publir Service Corporation of New
Jersey also acquired during the year
tbe canlfal stock of the Trenton Ter
,,inal Railroad Company. By the
acouisifion of these properties ana
Inc completion of their construction
tbe corporation fills in the gap IN
"a railway system in the centre OF
fhe State When the remaining con-
etruction is finished Public Service
Tailway Company will have a COM
Melted through line across the state
from the Hudson river water 'front.'
. IA the Delaware river water front at
Camden.
.The most important of the improve
n,ants completed during the year Is
INC now Summit railway terminal
and Office building in Jersey Guy
mis- railway terminal was built TO
ne used IN cooperation with the sum
mil avenue station of the HUDSON
"a Manhattan Railroad Company
and the Pennsylvania Railroad COM
pany. ,a ~
The corporation has embarked up
M the policy of building, as rapiuiy
as possible, permanent homes Tor l.s
subsidiary companies In the various
centres in which 1t carries on ousl-
ness. In addition to the new Jersey
CITY Office, during the year the new
t,r,,navvick Office of the company mas
4aen remodeed, and extensive al
*arat,ons to the Orange Office bullu-
inc have been completed; the MOT
ristown office has been thoroughly
rebuilt. n large addition to the Tren-
ton office has been gotten well uhuer
rsav. new office building has been
constructed in Railway, and ground
was broken in December for a new
ofl3ce building in the city of ELIZA
beth
ua. lib Prepayment Cars
me- oonnany has increased its num-
her of prepayment cars SO .na' ~ :
are now a total of l,llS cars ol 'i,'S
variety on the system. During inc
YEAR two-car trains to the numper oi
Al trains were put in operation on va
rious lines in the Hudson ana ESSEX
diyi.ions and have been very success
ful.
More than 81 miles of track was re-
constructed during the year ana, IN
Guiding the new properties above re-
ferred 10. approximately 1112 miles oil
new track was laid. The total mile
81 ge of the railway company when the
new construction under way is com
Melted win be approximately soo hllles'
AS has been customary, a large
amount of new underground work was
completed by the electric company
q,he poTicv of the company to place It's
wires underground in populous centres
Is being developed as rapidly as con-
dltions will permit, and approximately
$500. 600 will be spent this year toward
the fufIncTdnCt VI Wis C''JN-Nf
teen street miles of new condults were
laid during this year ana oo mlies Oh
new transmission lines installed.
-Four new sub stations, two in the
Essex division, one in the southern
division and one In the central diVl-
sion. were finished and the rebuilding
and enlargement of four sub-stations
very large and valuable piece oil
real estate has been secured during
the year fronting on the Passaic river
IN the meadow section of Newark as
the site for a new power station
which the rapidly growing business oil
the electric company in this locality
clearly presages as a necessity in the
early future.
subsidiaries obtain Increase.
The corporations subsidiary operat'
ing companies obtained an approxi-
mate gross increase from operating
during the year of $2,200OO0, a per
centage of increase of 7S1 per cent
over the year 1911. The percentage OF
increase of the railway company was
4.35 per cent This is below norma
and is due to two reasons-the severe
climatic conditions prevailing during
the early winter months of 1912 ano
the direct loss suffered by the open