Evening star. [volume] (Washington, D.C.) 1854-1972, 1914-02-28
$15.361.43S.24

The railway. property and fran
chises of the Cambria & Clear
field Railway Company were ac-
CURED under authority granted
by the stockholders. subject to
the outstanding funded debt Of. $4.555. OO0. 90
Equipment Trust Ohlixa ions
account OF Pennsylvania II. r.
Co. were issued amounting to-. 12,SS1.50 70
Total Observation-Disclosures. SIT 4Oa 800 2,
The total issues Of Equipment Trust Securi-
SIS. 100000, of PENNSYLVANIA General Freight
Equipment Trust Certificates Of 1913 OF which
was $12. S51 .50O.25.
During the year final payments were made
under twelve series Of equipment trusts. the or
iginal issue of which amounted to $l2. 900. 600.
On July 1. 1913, the bonds Of the Harrisburg,
r"rsmonth Nj Joy and man,ss.sF ~, Ra ,as
under a 500 year lease, having matured. were
extended for an additional period Of thirty years.
per annum, the principal and interest being
guaranteed by your Company in accordance with
the terms Of tine lease.
In order that the Company NAV have broad
basis for future financing. the stockholders will
BE- asked to approve Of the creation by the hon5d
may he issued in srch amounts and at sdeh times
as may be required to refund or pay of at or be-
or obligations of companies whose properties were
acquired subject thereto: to provide for necessary
additions. betterments ard improvements TO the
railroad lines. equipment. property. and facli-
ties. ard for any and all other lawful and nron-
er corporate purposes. hut no bonds shall he
issued for any purpose without the prior con-
sent OF the stockholders and the aggregate
amount of bonds that may be issued and out
standing Hereunder at any time shall not cx-
coed the then outstanding Capital Stock. The
Company has no large necessities recurring i'm
snn 10 pro,Ss t # fs"re to be il
capital requirements either hv the Issue of bonds
under the proposed new Mortgage. or under it's
Consolidated Mortgage. or through the issue and
sale of Capital Stock. Or by such other forr Of
financing as at the time your Board Of Direc-
pany IN view Of the monetary conditions then
prevailing.
The work IL satsfac torilv progressing on the
eastern section OF the s!S-track system for the
New York Division between Colonia. \. J.. ard
waveriy. y. j.. including the elimination Of M
teen grade crossings 10y ne elevation Of the fonr
existing main tracks and the constr uctioA OF two
elevated tracks. Two "as;>ound tracks now
in operation, and grading and masonry fo: Tvs"
more tracks will shortly lie completed and the
additional tracks placed in service. The TWO re
@ H t end s 1914, IS ts w1 tn, nTa
between Colonia aud Elizabeth
The passenger facilities in and around Phi1a-
delphia have been improved during the year as
follows: The concourse in Broad Street Station
was ENLARGED: on the Connecting Railway two
River and approaches thereto. at Girard Ave
nue.. Fairmount Park. were placed in oneration
moved and masonry for three additional tracks
will lie completed during 1914. thus making
North Philadelphia Passenger Station is pro
crossing. the platforms and shelters the part
of the Station used for the Chestnut Hill Branch.
and the inbound New York Division high level
island platforms. with the adjoining tracks
being in operation. For the expenditures made
lessee. the Connecting Railway for this
and other work your Company has leen repaid
Connecting Railway Company guaranteed 10y
your Company.
To relieve congestion by increasing the ward and
track capacity at Broad Street Station Phiadel-
uhia. the electrifcation of the Main Line to
Paoli for suburban messenger trains. is under
orI f.a1l nv srIG
OF the New York Division TO North Phradrlph'a
and thence to Chestnut Hill. About mile OF
completed between Radnor AMI st. nari,is which
will enable the Company TO decide by actual tests
the type Of overhead construction best adapred
The work Of improving the grades and alien
Buffalo. via the Allegheny Division ard the West
ern New York and PENNSYLVANIA Railway. is pro-
ceeding satisfactorily and 1t IS expected that the
three tunnels at East Brady. Wood Hill and Ken
nerdeli. which are being constructed part of
this improve men; will he completed in 1919
The changes of alignment and grades between
kiskimneta@ Junction and FrceI,ort on the Conc
maugh Division. including double track bridge
TT The changes Of grades and elimination of grade
crossings at H"mswood Avenue. Pittsburgh. and
In Borough of Wilkinshnrg: are in PROGRESS. and
ouch of Braddock was completed during the year
The aggregate expenditures for construction nrd
leased lines of this Company was Sal. 434. 4I5 06
for which The Company has been reimbursed by
snn OF 81 .sl5 81 was expended on the West
ern New York and Pennsylvania Pathway and
other branch, roads and charged AGAINST income.
Sc 800 8s7 20 the leased lines. VIZ. Harris
burg. Portsmouth. Mt. Joy and nd. Lancaster Rail
railroad and Canal Company, comprising the