The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-03-02

The railroads arc still burdcned with the
needless expenditure required to comply with
tho Su-CallUl Fun crew Laws, which are actually
ENtra Crew Law The principal requirements
~ these laws. which wary somewhat In the
dlnrlcht states; are IN substance that every
have n second brakeman In addition to the reg
uldr crew of cngincman, fireman. conductor. one
regular brakeman and a ilavman: every passen-
ger train having four ar more coachcs-thls
term covering Pullman and dining cars as well
and one baggage car; must haye an extra
of cngiran. fireman, conductor,
and brakeman. this not to include
train portcrs and Pullman employees every
train composed of four or more passenger.
mail, or express cars. empty or loddcd. must
have II crew OF c~nginetnan, fireman. conductor
and two hrakcmcn. even though no passengers
are carried.
II is estimated that this law has added over
eLV6.np per annuin 20 the Operating Expense.
Pittsburgh. and this enforced expenditure Is a
pure economic waste. because II does not IN
This amount could have been spent 20 far
greater advantage in the Improvement of rond.
Sm%plo Snn r9u' POM when aeS the e pubic 'an,i" en-.
ploy es would have received real benefits. Arbi-
trary laws requiring additional men on trains
without regard to the necessity for their ser
vices, impose n direct and unnecessary burden
on the public and the company. Such laws
tend to weaken the working discipline, and
from the standpoint OF the employees not Only
impair the ability of the Company to continue
10 pay the present rates of wages TO that great
w w tNAlNbs' . wv $50 '
but also TO delay promotion.
Four Company has. therefore. Joined with
their cooperation In securing the repeal OF this
unwlsc and westcfui legislation. The Manage
mcnt request the stock and bo~ndholdets ana inc
employees. In their own interest, 10 support This
movement
TRAFFIC..
The tonnage decreased IL y per cent and the
tonnage mileage decreased ll.h7 per cent. due
to the general restriction of busincss, but freight
: rain FnlIsuuf ta.. al.N FtpffFHN n ~ nor cent
rhe reduction Ia PASSENGER business Is reflected
In the decrease OF ~ per cent. IN the number nf
hut passenger ;raiu mileage vas also reduced
! - per cent The net revenue per ton mile
shows a slight Increase. but the net revenue per
passenger mile shows q large decrease.
CAPITAL STOCK AND FUNDED DEPr.
The capital stock was Increased ssl, $50
through the conversion % that amount 81 re-
CENTS iSstrt under the stock allotment Of 1918
The Funded Debt and Euuipmcnt Trust OBJ
legations show a net decrease II q .OsO. so rs.
!, viii be recalled that at the last annual meet
ing the stockholders approved Of the creation
by the BOARD Of Directors ~ y General Mortga &c
50 that the Company might have a broad basis
yet been recorded and no bonds can be issued
FOR any purpose 'horcundct without the prior
far been requested The Company VIII refund
So. s27,U OF Convcrtihlc Nonds maturing Octo-
her ist. 1915. and other maturing obligations,
and IL must also provide for other necessary
corporate purpose srch us additions and bet
tcrmcnts ~ rs railroad and equipment since
the close NJ the VCpr II therefore sod so tHtNi
consolidated Mortgage 80 NOnds. hclrng
date February ist. 1910. realizing a price slightly
IN excess ~ par. a satisfactory result undcr "V-
lSt.ng conditions Including the issue recently
made. the total amount ~ bonds outstanding
undcr the CONSOLIDATED Mortgage is almost slur.-
az any one time hc Issued and outstanding In
view Of the creation OF the now General Mort
gage. II Is deemed advisable that hereafter the
Consolidated Mortgage should be- closed. and no
further issues Of bonds made thercundcr.
This issue OF Consolidated Mortgage BONDS
WAS made under the authority conferred by IN,
stockholders In March. ly9. when an Increase oi
the bonded Indebtedness was authorized 20 th'
aggregate amount OF 500 ~ for the purpos,
~ Injecting the tompany'S requirements IN 100
and 1910. A. such requirements wcfr met
through An issue NJ CanltaI stock. only sta Np.,
on ~ N, authorization then made mas beer
utilized. ~ that the COMPANY IL -till poSsc-S,r
" authority - Increase the indebtedness 10 th'
extent uf S3l. gpi.Dt The latter amount viii no
be sufficient to meet the balance Of the refund
Ing and other requirements for 1918. A. ABOVE
stated, and the stockholders. Pursuant TO notice
duly given. viii AZ the forthcoming annual meet.
ing b. requested 20 consent 10 an increase OF the
Indebtedness 20 the extent Ofsiu,sr.Gn.. 50 that
with tn urc-cNisting AUTHORIZATION 'he Com
pany may b." possessed OF authority TO Increase
IT. Indebtedness, 20 the extent fs1i.s',Hu.. and
the Board Of Director dcslr, authorit" 20 MAKE
such Increase through the issue ~ bonds Sc
curcd either rs the new General Mortgage OF
thc wise, or hy fhV issue Of Orhrr obligations o.
the Company IN such form, At such times. and ot
such terms and conditions a. shall hr deemed -
be most advantageous but not IL excess q
100000