The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-03-01
FEDERAL TRANSPORTATION INQUIRY.


The President OF the United. States has
recommended a Congregational inquiry Into
The transportation problem and regulation
a.ss'' e.. 's si.s ss%% cS,li sssi'i II pr TH1s s' re-:
Strength and ssseisScy Of public seaaia,ion.
s s.is,aacS d S.'ilsi IN csnasc,i lon ", ~i, f'" s"ss
an Important National inquiry. Twenty
eight years have passed since the enact
ment OF the original Interstate Commerce
Law. during which radical changes have
occurred In the commercial and financial
r ms naaem.n 81 ana anS CSuntry; and sn N T E.,a +
and State regulation has been extended to
practically every department of the rail-
roads. Public regulation has served many
useful purposes. which II Ia desirable to
continue. but there has been a notable lack
OF a definite business policy and co-opera-
ton between the Federal and state Gov;
ernments as TO railroad legislation and
regulation: heavy financial burdens have
S Sssn ,mnSssd, and the pSwers consistent.
been seriously curtalled. Further. the in
vest'nent In railroad and equipment. pro-
has not been earning an adequate return.
and consequently railroad expansion has
been materially retarded. and the con-
struction OF necess1r y new lines prevented.
However, the time FOR complaint and de-
structive criticism has passed. and through
this inquiry an opportunity il presented for
formulating n constructive policy and In
surfing equitable treatment for the rail-
roads. which will he sustained by public
pthipb' i'uilZIHk 'nu' VI ThltT0auS aFe "
very essential factor in creating and con
tinuinE National prosperity. Then their
owners aud the investing public will be rh-
coufaSed to provide In tn" future the large
sums Of private capital required to place
our transportation systems in "a position to
meet the needs Of an expanding commerce.
FULL CREW LAWS.
The so.called Full Grow Laws. which
are IN effect extra-cr-w laws. are still en.c-
tive in the various states through which
your company operet1'. and constitute q
source OF needless expenditure. a Bill to
repeal the Law was passed by both branches
or the Legislature OF tn" state OF Pennsyl-
wanna. but was vetoed by the Governor.
CAPITAL STOCK AND FUNDED DEBT.
on De- ember sist. 1915 the Company
had s3.1os stockholders. wnuSe average
holdings were i0a share-.
The General MORTGAGE. TO which refer
ence was made IN the last annual report
was duly executed and recorded. Under its
funding of all underlying mortgage debts
OF this Company. including those on prop
critics OF acquired companies. the payment
whereof has. by agreement with the Truss
tees 81 the respective mortgages. been as
sunned by your Company. In accordance
with the authority granted bv the stock
holders nj the last annual meeting. the
Company isSued and sold hereunder the
$4,000. 900 OF Four and One-haif Per cont.
OF those bonds and OF the $4,000 900 OF
Consolidated Mortgage -Four and On--half
Ter Cent. Bonds furnished the none, TO
that matured october Ist. 1915. to meet
other maturing obligations. ana 20 make
additions and betterments to your railroad
and equipment.
ROAD AND ESuiPMENT.
The important expenditures for Road
aud Equipment embrace tho following
Tho sterilization OF the Malu Line sub.
urban zone from Broad street station to
Paoli wa completed. and the operation OF
multiple amt electric trains Was lnaug urated
september tth. lsia
work was continued on the improvement
Of your passenger and freight facilities in
Philadelphia Under the agreements with
Ia" cay Of Philadelphia, considerable prog
res has been made IN the proposed .hmi-
delrhia, and also In the northeastern zee
tion Of IN" Cit,.
Allegheny River between kskimiu.tss
Junction and fre"port. the bridge over
tn" SchuNi%llI Ri,"r az rhrnixy!,e. and
twp bridges over tn" aud Riritan
cana in Trenton. wa. completed arI they
were placed In service during III" Year.
The, bridges ~ Marayunk and Frick's
York Division, Diamond street, thiiadei-
phis. ana others over Tho Ieiswar" ana
being rebuil, and VIII be finished In 1916.
The track elevation through the city ~
Iohn-tonn VII be completed. during 1916.
All Of the bridges necessary FOR the clint
nation Of grade crossings have been com
pletei and placed In service. and tho work
Of rebuilding til. passenger station II pro-
Ceed!ng satisfactorily
The elimlnntion Of grade crossings and
tho construction o. a new passenger sta
tion IN the borough Of Williamsburg was
continual ana will shortly he completed.
The Turtle creek Hriuth, r.t'shlrgh
Division AMI the yellow irp~k Branch,
ron"mavgh Division were extended during
tho year - reach rev coal oT"riUe~. HLi
tn. bruuch from Guhergnn 10 Mahanov
Plane SUuhurV p''sipn. was completed
ana placed IN SerN!~"
The Uhurg~ ~ I'm" en' rralN between
Fr"epurt and Butler Junction wu- began
this includes ne elimination -. g'ir"
crossings ant nov passeng~~ and freight
stations IN the Borough OF Fr-"rof'.