The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-02-28

ceive much further examination and also
the revenues OF tho COMPANY to wsrrsn.
raising tho new capital required fes ~
In the City Of Philsdelphia the greater
portion Of your lines are constructed above
section OF the CITY. between the Delawsro
and schuyltiIl Rivers. The necessity Tor TIC
ment of conditions along the river iron,
upon the elimination OF nearly ali existing
grade crossings q your railroad aud OF the
Washington Railroad and OF tho Ddliitaers
and Ohio Railroad Companies, and IN ashi,.
the railroads to cooperate. Tho City Va.
large expenditures; undcr this arrangement
and relocate the present running track
yards and facilities On The. portion OF tn
and schuylkiil River. Branches FROM tSc
Arsenal Bridge over the schuylknl River to
in lieu thereof the new tracks Of tho "I ps Ia
ware Extension when elevated between ~
and twenty MN and MSKesn u street,. " nSg
new two-track elevated line extending gen.
orally along Point Breeze Avenue. Twenty.
the League island Navy Yard 70 a ,erminsi
yard to be located between Broad street
north eide Of said yard aud on Delswsro
tracks and facilities on that Avenue viii be
relocated as far north as Queen street. The
will likewise relocate and elevate It's present
tracks in that section of the city win oc-
tracks of your Company, from Psssyunk Ave.
nue. to and along Delaware Az nue. This
Joint four-traek railroad. With provision Tor
It's use as belt line. Under this agreement
Baltimore and Washington Railroad Con
pany along Washington Avenue will also te
Street, and doSse ssstd Inc iS st essi
thereof. Is expected that this important
penies provide the funds requisite therefor
The oonsiruetion OF tho Sew, York Coz.
company and the New York. New Haven
and Hartford Railroad Company, ano fu!I,
isfactor!ly progressing. and Il Is expected
will be completed by the summer Of 1915
The increasing traffic on the Chautauqus
Branch between Buffalo aud Oh City on the
line OF the Western New York and Pennsyl.
vanis Railway. has, ia connection with lin
iiar improvements on your Allegheny Dii.
sion. necessitated the revision OF grades. and
IN. TN y.s an1 ms, 'i SaYssco gu
the Western New York and Pennsylvsris
Railway by this Company to meet 10 Con.
struction and Equipment expenditure.
which sum was charged against the net in
come OF the Lessee Company.
the Hollidaysburg. Bedford and Cumber.an c
Railroad Company. which Is owned and op-
its main line. The necessity FOR maifs<,-
Ing that Company as separate corpo"sSo-
vidine FOR It's scauisition will in scccrdsnsc
with the notice given 10 the stock holders
BIO submitted FOR approval at the annual
During the year your co3e.sry made 81.
vanSes 70 ,ne Long i sao IA i'saro@f Com
provement OF lis railroad anf facilities, and
the construction OF new Inv and equipment
for which It will receive securlties Of thr
Company.
In accordance VITA ,he policy heretofe,.
ss to y' n 1s Of ~
cite coal companies owning properties served
Sy It's system nsIneI T.. he sasquenapn.
Company and the Snfnmt Bra-nch Mluiai
COMPANY your Boart. s*-mea n eeslrao'e
ties and properties OF these coal ccmpatic.
into the susauehhanna Goal c9,npsny. th,r'
ef inc summit Brand. Mining Sor.,1..
i FER OF rs prong and rish;s - iaat o.
s;ock .: he Mineral Kai.Tosd aud Mlfi..
Northern Central Railway Company. Trs-
COMPANY operated lands leased from b.
from the Manor Real Estate ana --.,'
to pa" the p9t aas q roSGe o nan
Complain eneS;ivo Janaary 81. igii'fi '1
,ion OF the Mineral Railroad and M.l'e
Company; The lands OF the Mano. -.
Mineral Railroad and Mining compan,. '...
b ossn sold to ,hs sI1sauensnrs Goa '.,
ss!e TO Il Of the other iand,, operated L, j
the Northern Central Railway Companv sIs
ject 20 fxine the anal price. Under u.
snas w BE- ss be- pssymeni 5gr ~
Company ~ It's Five Per Cent 1--WE Year Go,,
bonds WHICH are exehangeabie for It's f!rr
issued by that Company
The purpose OF vesting the ownergh!p o.
Company Is TO insure the continued Opera
ton Of the Improbable well ia.
coal supply ana so that should a purchase
be found for the securities OF the suaggs
and the Northern Central Railway ''t Con
| pany. she new owners will obtain possessloe
o. TIE properties subject 10 these mining %
The Company has for some year. desired
mon sea aud hs pref.rn.s stot s % s of
and Ohio Railroad Company. consisting -
;.:.?ss shares shares q the con.n.oa STOCK e..
. total par value OF SIC, ssssoo. The sort,.
going shares represent less ;han one-Aar
and they have been retained since iso; O.,
a. -. an invsstm:nt awaiting a faversb,. q
when An oner was made TO eXehange ;her,
To-; 70. i1i;t,s ss hare; par value n7i4',Se :.
| Company. on which Dix per cent. diyiael.s
were being paid II was deemed advisa5.s
the .trsnssction the Stock Of the sogth-'
Pacific Company was valued d. pas, ~.
Common Stock cf the Baltimore aud Ohio
Railroad Company Ut the same tsure. we
the four per cent Preferred stock % ~
latter Company was valued az $50 PEI snare
| which WAS its approximate market value
This accounts for the reduction In The pr
| value of the Investment. although tGe CON
pany will on the basis Of the present G!y'
dends receive greater returns from We
ownership of the southern Pacific Compan,
stock. and also have security that car
either be sold when conditions permit, c,
held as an Investment. as may BE- dee'nei
| the most advantageous to your COMPANY
During tho year the Norfolk and Wsrter
Railway Company issued lite Con.t:'l's
1875 year +is per cent. Bonds and YOU
Company shareholder subscr!bej su
IL share Of the allotment. amounting
N7s3 900 par value. Your Compsur g.
quirad the capital Stock of the CornwAN snl
| Lebanon Railroad :e miles long, which c.a
meets your Philsdephia Division at Coue0 -
| with the manufacturing town ~ Lebanon, fe
| The securities held by the COMPANY p
esmbe slst, 1913, at a Valuation ~ tS83,Ft",ss
produced direct income during tho -
Of Sl&.s<o.e7e.