The Washington times., 1932-04-05

freight schedules inaugurated between New
England and the south and west, thus widening
markets. reducing inventories and accelerating
sales and production for both industry and agri.
culture.
NEW TRANSPORTATION METHODS
New, more economical and more convenient
transportation methods have been devised in the
Companys continuing program Of co~ordinating
rail and motor services. A new form of rail"truck
operation, the 'demountable truck BODY, was
inaugurated between New York, Philadelphia and
Baltimore and between Baltimore and Richmond.
Va, combining the advantages possessed by motor
truck operation in congested metropolitan centres
with the advantages of economy and expedition in
railroad line>haul movement Under this plan truck
bodies are loaded by the shipper, hauled by motor
truck from his place Of business to the railroad
where they are transferred from truck to railroad
car and moved in railroad freight service to desti-
nation where the reverse operation takes place.
Container car service has also been extended and
new types of equipment are being developed such
as automobile cars which permit more economical
loading by elimination of expensive blocking ETC.,
and covered hopper cars and containers for bulk
products like cement, lime and brick.
TEMPORARY RATE INCREASES
Under the Interstate Commerce Commissions
decision in the Is per cent rate case, certain ir-
creases in freight rates became effective January
4th, 1891, to continue to March 31st, 1883, with
the provision that the additional revenue be segre>
gated from other freight revenue and loaned to
financially weak railroads to enable them to meet
their fixed charges. For the purpose of collecting,
receiving and administering the funds resulting
from the increased rates and advancing them in the
form of loans to financially weak railroads, the
Railroad Credit Corporation was inaugWated anu
IS now in active operation.
RAILROAD CONSOLIDATION
Railroad consolidation in the east, which has
been under active discussion for more than ten
years, moved an important step nearer to accom-
pishment in the agreement last October between
the executives Of the Pennsylvania, Baltimore g.
Ohio, Chesapeake q Ohio and New York Central
Railroads to submit tour>party consolidation plan
to the Interstate Commerce Commission Hearings
on the railroads application for the substitution Of
their plan for the 6ve>party plan previously made
public by the Commission, begun on January 9th,
1892, have now been concluded, and if the four
party plan is approved, the gradual grouping of
the railroads concerned will be effected. 1t is be-
heved that each Of the systems resulting from the
suggested grouping will be able to operate more
efficiently and serve the public better than the
same number Of miles operated in less coordinated
manner and will result in improved service, intro
duction OF many economies in operation and .
saving in capital expenditures.
STOCKHOLDERS
The capital stock of the company has reached
new high record for widespread distribution being
owned by ASSOC holders as of December 81, 1891,
an increaseof I2,oo5 compared with December II,
1880 AS pointed out in previous years the large
investment represented by the stock and other out.
standing securities of the Company emphasizes the
duty and responsibility of the management to pro-
tect and promote this interest well as that Of the
public and employees.
prevailing during the year 1881,
a Railroad while not satisfactory, were
y and reflect credit upon the loyalty and
ndholders and employees is again solicited
rafc for the Pennsylvania Railroad.
WV. ATTERBURY,
President
RAILROAD
1t Than Any Other Railroad i1 America
A PENNSYLVANIA
|coX Secretary Broad Street Station Building, PhlddG