Evening star. [volume] (Washington, D.C.) 1854-1972, 1916-03-01

your COmpsny) to discontinue the operation, In
connection with your System. of its steamers on
the Great Lakes. effective December i2th; lsl.'
and that Company accordingly discontinued "per-
atoms and sold its Steamers. and expects 10 sell.
otherwise dispose of its remaining pr"icr'!
when satisfactory offers rnn be Obtained.
The Commission also issued another order re
quiring the Baltimore. Chesapeake and Afiauti.
Railway Company to discontinue the opera OF
nearly all of Its steamers oil Chesapeake iRy :.
effective April 1>t, 1915. and the Mar!iahd
Delaware and Virginia Railway Company. cem-
pany affiliated in interest with the haiimore.
the nperatio of its Chester River Steamers on
the Eastern Shore of Chesapeake Bay. fh. ron
tinued operation Of the Steamers of the latter
Company. and of The Baltimore. Chesapeake and
Atlantic Railway Company on the Western
Shore of that Pay. Is subject TO further invest.
cation by the Commission. The practical resn'
Of these orders may require both companies 10
dispose Of their Steamers. wharvrs ana tarhi-
ties. except those necessary Tor their fai"as
ferry service.
FEDERAL TRANSPORTATION INQUIRY.
The President of the United States has recon-
mepded u Congressional inquiry into the trans
portation problem and regulation affecting me
common carriers. This Company has clearly
outlined in previous reports the necessity for IN
reasing the strength and efficiency of public
regulation, and II il will..,g to render all rea
sonable assistance desired in connection with
such an important National inquiry. Twenty
eight years have passed since the enactment OF
the original Interstate Commerce Law. during
which radical changes have occurred in the cor,-
and in railroad management and operation. ana
Federal and state regulation has been extended
TO practically every department of tie railroads
Public reguI8 ton has served MANY useful pUr-
poses. which il is desirai-'e 10 continue. hut
there has been notable lack of a definite hisi-
pole. and cooperation between the Federal
and state Governments as 10 railroad legislation
aud regulation: heavy financial burdens lave
been imposed, and the powers consistent with
responsible railroad management have been seri-
ousIy curtaied. Further. the investment in
railroad and equipment. provided for public
adequate return. and consequently railroad eA-
pansion has been materially retarded, and the
construction of necessary new lines prevented.
However. the time for complaint and desiruc-
tive criticism has passed and through this in
quiry an opportunity is presented for fornImiat-
ing n constructive policy and. insurinr equitable
treatment for the railroads. which will he
tanned by public opinion. realizing that the rail
roads are a very essential factor in creating and
ers and the investin. public will he encouraged
to provide in the future the large sums of pri-
vate capital required 10 place our TRANSPORTATION
systems in position TO meet the needs Of cX-
banding commerce.
FULL CREW LAWS.
The so-called Full Grey Laws. which are in
effect extra-crew laws. still effective III the
various States through which your Company
operates and constitute source Of needless
pcnditure. Bill to repeal the law passed
by both branches of the Legislature of the State
of Pennsylvania. but was vetoed by the Gov
ernor.
CAPITAL STOCK AND FUNDED DERT.
ON December 31st. 1915 the Company had
93. 76s stockl"lders. whose average holdings
The General Mortgage. to which referenr- WIS
made in the last animal report. was duly exc
cuted and recorded Under its terms provision
has been made for the refunding of all under
lying mortgage debts Of this Company. including
payment whereof has. by agreement with the
Trustees of the respective mortgages. been
suned by your Company. In accordance with
the authority granted by the stockholders at the
last annual meeting. the COMPANY issued and
sSd psr sn the RsnSs y" 81 tonr nnd
basis: The sale of these bonds and of the
$40. 600. 900. Of Consolidated Mortgage -Four and
One-lialf Per Cent Bonds furnished the money
to refund the $50 s27 900. Convertible bonds that
matured October LIST. 1915. to meet other matur-
ing obligations. and to make additions and bet
terments to your railroad and equipment.
ROAD AND EQUIPMENT
The important expenditures for Road and
Equipment embrace the following Items
The electrifcation Of the Main Line suburban
completed, and the operation of multiple unit
electric trains was inauSursted September 4th,
1915.
!onr passenger and freight facilities in Phila-
delphia. Under the agreements with the City
made in the proposed elimination Of grade cross
ings In South philadelphia and also in the
northeastern section Of the city.
The reconstruction of the bridge over the Al.
and Freegort. the bridge over the schuylkil
River at Phoenixyille, and two bridges over the
Delaware and Raritau Canal in Trenton was
completed and they were placed in service dur.
Ing the year. The bridges at Manayunk and
Frick's Lock. schuylkili Division. Croydon. New
York Division. Diamond Street. Philadelphia
and others over the Delaware and Raritsn Canal
Feeder. in Trenton, are being rebuilt and Will
be finished in 1916
The track elevation through the City of Johns
town VIII be completed during 1915. All of the
bridges necessary for the elmnat ion of grade
crossings have been completed and placed in ser
vice, and the work of rebuilding the passenger
station is proceeding satisfactorily.
STOCKHOLDERS MAY OBTAIN COPIF
APPLYING TO Oh ADDRESSING
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