Evening journal. [volume] (Wilmington, Del.) 1888-1932, 1917-01-12
OF NEW
| financing BY PR. R.
Part OF Sum Will Be Spent
on Broad Street Station
Philadelphia
|GREAT TERMINAL
is COMPANY'S PLAN

II PHILADELPHIA Pa Jan j.. -
Ilstoclsholders OF the Pennsylvania
8Railroad Company, at their annual
%meeting on March 10. viii be asken
Ito approve an increase in the author
#ized indebtedness of the company 10
#fhc ex .ent OF S75.OOO,O0O. Part OF this
Heum viii be used in remodehng Broad
&street station. and building a hand
&some addition 10 the present terml-
xnal that VIII front on the-Rew PARK
AWAY
81 Announcement OF the proposed in
4crcase OF Indebtedness follows quick
Hly on the statement made last week
NOT the Pennsylvania intention To en-
Have its terminal facilities here m
ffhe near future. Plans for rebu lding
NBroad Street station, and putting up
#fhe addition on tho Parkway are pracc-
#ticaliy completed, and probably VIII
#be made public shortly.
II When the Pennsylvania Company
xpul up iis present terminal IN New
S. York CITY the stockholders increased
t3gts indebtedness 90 tho extent or $50
p 1000 600
'S The Formal Announcement.
rho announcement regarding Wed
&ncsday's meet ng follows.
erhc stockholders will be asked TO
#epnrovo an Increase Of the authorized
#lndchtedness OF the company 20 the
n extcnt of SIS 600 600 This will enable
n thc Board OF Directors TO issue from
81 fino 70 time such amounts, either Of
n rrneral MORTGAGE bonds or Of capital
81 Etock that has heretofore been auth
81 urlzed by the stockholders, as may ne
a necessary 10 provide FOR the com
81 paDy's capital requirements in the
81 near future. including maturing oh
4 lieaiions"
4 About tho only outstanding obliga-
4 tions Of the company which will ma
furc M This time are approximately
q goo coo 600 notes They arc due in Aprl
H. was learned Wednesday, which
a uranid leave considerably more than
A $40. 100000 to be applied toward reno
4 WAITING Broad street station OF an
d pflcr construction purposes. What tn'
e1aci cost Of remodclng the station
and erecting the addition Will ne' mas
moi been made public.
Should the Stockholders OK the com
pany grant the S15,000OOO nov
rouel,t. land 81 is indicated they whn
the authorized indebtodness OF th'
railroad will aggregate Slso.OOonoo
Froction on The New York termina
renrescnts annroNlmatelv $4,000 oe'
4 ~ This total. while $40 600 600. author
gred ir 1918. makes M the remainder
y tho $50 OOO 600 increase was autls
a orized in 1909
d no no FIRST CiaSs Terminal.
2 with tho completion OF this lates
81 NJ pennsvlvania projects Phi'adel
nh,a will have a railroad termlna
81 second 10 none IN The country IN
u addition cell be erected along Ia
q ,ireu oc the comnanv's terminal
A New York CIV and the present bu'l
Il irp viii Ne ramodeled entirely j
kearinr with that structure.
The addiction viii stand on propert
now owned hv the railroad comnan'
win tho evcentiop OF a little Mot !
S Fiihert street iurf west OF Fifteenth
ana now held BIZ the city. II was FOR
4 merlv used as Q police station TIL
nronerty IS IL be given 20 tho rail-
road hv tho citv however. as resul
\ Of the new Parkway cutting of th
nnriheas' corner OF the present STA
Ron. Vaccinations are pendine b'
tween tho comnanv and the city 70
~ oxch7nco ~ the pronerty.
The railroad companv has alroad
a be1un 10 remove Sos Offices in part {
n Broad Street station with the add
d fion and relocation of tracks. an ei
lareca irainshcd will be possibl
Il and through trains that now touC
only West and North philadelph
eteiions viii De able TO bring passei
gers in-o the center Of the city.
A tho same time that announc
mont was madc yesterday concernir
4 M increase IN the company's indeh