New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-02-28

tracks Of ,our Company from Psssyunk Are-
nue. 10 and along Delaware Avenue. lnis ~.
ton Of rho line will he operaied ~ lpin'
four-track railroad. with provision for rs us@
as A belt line Z nder this agreement tho tftchs
and facilities Of the Philadephia. baluinYI
and Washington Railroad 'empaln s 81.
Washington Avenue will also be elevated ~
q tEree-track railroad 20 Broad street, ana -
n doGble-track line east thereof Is -.
pected that this important project VII oe com
pIetad in i've years as and wnen the fity ~
The Railroad Companies provide the iun'
requisite therefor
The construction % the New YORK tonnec,-.
ing Railroad. owned jointly by tbis IonpsnI
and the New York New Haven ana hsrtiofp
Raiiroad Company. and fully described IN
previous annual reports. H. satisfactorily pro
crossing. and IL r. expected VIII De cohP'e''"
bg the summer OF 1916.
Tho increasing iraf'c IN the Chautau1us
Branch between Buffalo and OIL CITY on tn'
line Of the Western New YORK snd Iennsl.
vania Railway, has IN connsc,.on Mn ni,,,s,on
necessitated the revision OF grades snI
alignment and longer passing sidings Durins
tho wear 81 s02 03612 was advanced - IT.
western New YORK and Pennsylvania Ran.
way hy this Company 20 meet It's .9ns'rur
ton and "a dipment cxpendit.res wn''s ~
was charged against the net income VI W.
Lessee Company
n has been deemed advisable N aosorn ~
Voridavsburg Bedford and Cumberland hau,
road COMPANY. which IS o"ned ana opele,r
~, this company IN connection Win US raI.
limo The necessity for maintaining tls.
COMPANY AZ separate corporation no ,one
exists end the agreement proNl1ins @ -
ACQUISITION will. In ACCORDANCE Win - ~.
,ice riyan 20 the stockholders, he submitteh
FOR approval az the annual meeting
During the year YOUR Company msde 20
varces 20 the Long Island ksl,Fo ,aeu,,yov"p,o-,
/ - ts railroad and facilities. ana voc -,
struction of new lines and equp'ns". -or,,.
which 20 wil receive seoVl'li'S W
pany. ...,.-. an.
.,r"ed as 70 the proposed sale or ms 'o.,,
MANS security holdings IN nc ANN .S ~. a..
companies owning properr,J,s coal Com
na1v Mineral Railroad and Mining toiiil@ a,,-
and The summit Branch Mining Coilpa,'e, ,bc
| 80 deemed u desirable 10 first coihpaNt -
a.orsbin of the securities and properties =.
those coal companies into the sue 'on'i,
coal Company. Therefore. theIe ias 49, e,a,f,si
10 the Susduehanna Goa Con,pa ~ -, vi, ,yi,inc
Stoc,, and debt ~ the summit IAN. non
~,na~,. hold hv YOUR Company. ana o,'p'
the transfer Of its property and rish,s -
,t,st tnulusn, the summit bfal,h hl.' a.,
/ . 90, vii 10 dissolved Your Compsny J,
sleo the owner OF one-thlrd or ue -.
/ stoot % the Mineral Railroad ana MINI. ~
/ ron,panv The balance bang owner p' -,
! Northern Central Railway comps. - "a.
! Company operated lands leasep iIp'' 80,
| Northern Central RAILWAY COMPANY siu
I tho Manor Real Estate and Trust 'vnp",
- heiny unable for many wears ~ ny -
prescribed ROYALTIES. Il transferred us ~ 80
| leases 10 the Susauehanna Do'l ,,'o bssn
eIrectl's ,i- tbs dissolution Of the Min
/ ersl Railroad and Mining COMPANY Inc AM
| NJ Tho Manor Real Estate and Trust Conlpan.
| onerated nv the Mineral Railroad ami Mining
| Co,nnanv have been sold 70 tho Susguehann'
| Coal COMPANY and negotiations coh'luue1
| the sale 10 IN NJ the other lands operator -
1 w. Mineral Railroad and Mining Company fo'
| tho Northern Central Railway Company SUI
| iect 10 fixing the final price Under me tor ,,,
going ARRANGEMENT paymen, io 5os s1' Gonpan, in
| lis Five Per cent. Five Year Gold bon1f.
which are exchangeable for iis FIRST Mo..SstH
| Bonds II and when the same are is'"V' ~
| that Company.
Tho nurpose ~ vesting the ownership of these
| properties in the Susquehanna Coal Compans
| Is 10 insure the continued operation OF "
| improbable a. well as the prohiane n'lhcs,
| and therebv conserve tho coal supply ana :"
| that should purchaser he found Tor ln'
securities Of the Susquehanna Coal Compsns'
held bv your Company and tho Northern cen.
/ trsl RAILWAY COMPANY the new owners VIII
| obtain possession Of the properties subject IN
these mining Obligations
The . Sasne its s0 holdings sGs yc and
Preferred Stocks y the Baltimore and ohio
Railroad 9ns asg -. q S2 share sfc OF
| the Preferred Stock. having a total par Naiue
Of SO aas 500. The foregoing shares represent
than ore half OF your o,,sn ssen Totan.g
since 1905 only an investment awaiting .
favorable opportunity for their ois ap,chsns.
them FOR III ass shares. par value siT. it3 800
! Of tho Capital stock 81 the Southern Pstlnc
/ Companv on which six per cent DIVIDENDS
we're being paid. It was deemed advisable TO
! make the exchange. In consummaung n"
transaction the stock Of the Southern Paclu'
Company was valued az par. the common
Stock Of the Baltimore and Ohio Railroad Com
pany AZ the same figure. while the four per
cent Preferred stock Of the latter Company
| was valued at $50 per share. which was us
| approximate market value This accounts Tor
the reduction in the par value OF tho invest
ment. although the Company VIII on the basis
of the present dividends resolve greater re
| turns from the ownership Of tho Southern "a
ciac Company stock. and also have security
that can either he sold when conditions permit,
or held as an investment. az may he deemed
tho most advantageous TO your Company. our
ing tho year the Norfolk and Western RAILWAY
! Company issued It's Convertible 1oi25 year W
per cent Bonds and your Company as share
holder subscribed for ts share of the allot
! ment amounting 10 s. To3. 600 par value. Your
COMPANY acquired the capital stock or the
| Cornwall and Lebanon Railroad 81 miles long.
! which connects your Philadelphia Division AZ
Conewago with the manufacturing town or
! Lebanon, Pa.
The securities held ny the Company Deem
her 3lst. 1918. AZ valuation OF 1888 s6O.s21
produced direct income during the year o.
sl4.2f0,61o