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PENNSYLVANIA RAILROAD.

Main Line.-Philadelphia, Pa., to Pittsburg, Pa. (incl. H. & L. RR.)..354.9 miles.

Branch

Lines:

Altoona (238 m. W. Philadelphia) to Hollidaysburg..... 7.6
Blairsville Intersection (301 m. W. Phila.) to Indiana..... 19.0
Delaware Extension (in Philadelphia)..
Steubenville Extension (in Pittsburg)..

5.5

1.3

Tyrone (224 m. W. Philadelphia) to T. & C. RR.................... 3.1— 36.5

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Total length of main and branch lines (incl. H. & L. RR.)................391.4 miles. Second track, 352.9; sidings, 133.7 miles. Gauge, 4 feet 9 inches. Rail

-iron, 64 and 67 lbs.; and steel, 56, 65 and 67 lbs. to yard.
Railroads leased and operated by Pennsylvania Company, viz. :
East Brandywine and Waynesburg RR. (Waynesburg to Downingtown).. 17.5
Mifflin and Centre County RR. (Lewiston Station to Milroy).....
Tyrone and Clearfield RR. (Tyrone Junction to Clearfield)..........
Bald Eagle Valley RR. (Tyrone Junction to Lockhaven).
Ebensburg and Cresson RR. (Cresson to Ebensburg)..
Newry Branch RR. (Hollidaysburg Branch to Newry).
Western Pennsylvania RR. (Blairsville to Pittsburg).
Philadelphia and Erie RR. (Sunbury to Erie City)..........
Pittsburg, Fort Wayne and Chicago....

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Total length of road owned, operated and leased the past year.. 1,346.9 miles. Upon the roads owned by the Company there are 352.9 miles of double track and 133.7 miles of sidings.

In addition to the above the Pennsylvania Company have leases of and operate the following lines :

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The Pennsylvania Railroad Company owns a major part of the share capital of the Pittsburg, Cincinnati and St. Louis Railroad. The latter has taken a lease of the Little Miami and Columbus and Xenia Railroad, which is guaranteed by the Pennsylvania Company. For terms of leases of these roads see statements relating to the same. Their accounts do not appear in those of the lessees.

The Pennsylvania RR. Company also own 12,282 of the 22,200 shares of the capital stock of the Cumberland Valley RR., 81 miles; and 43,614 of the 95,978 shares of the capital stock of the Northern Central RR., 330 miles. These shares, upon which dividends equalling 8 p. c. are paid, are held as a sinking fund for the redemption of the 2d mortgage bonds, and the the bonds of the Harrisburg and Lancaster Railroad Company.

The Company also own 15,365 shares of the Harrisburg and Lancaster Company's stock, $768,250; 25,547 shares of the Connecting Company's stock, $1,277,350; 31,636 shares of the Philadelphia and Erie Company's stock, $779,637 26; 70,231 shares of the Pennsylvania Canal Company's stock, $1,101,155; and a considerable amount of other railroad and municipal stocks and bonds. The total amount standing on the books of the Company as representing these investments was, January 1, 1870, $20,055,741 93.

Rolling Stock.-Locomotive engines, 608. Cars-passenger, 294; baggage, mail and express, 123; and freight and coal, 9,200-total, 9,617 cars. Also, 1,054 road service cars.

Statement of locomotives and cars for nine years:

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In addition to the above, there are large numbers of coal cars on the road owned by individuals and paying tolls to the Company for motive power, etc.

Operations for the year ending December 31, 1869.-Trains run-passenger, 2,302,963; freight, 6,904,888; and service, 366,776-total, 9,574,632 miles. Passengers carried, 4,229,363; carried one mile, 144,728,742. Freight moved-general, 2,662,667; coal, 2,329,358, and Company's, 410,966-total, 5,402,991 tons. Average charge per mile-passenger, 2.51, and ton of freight, 1.72 cents, materially lower than in 1868.

Gross earnings-passenger, $3,500,071 06; emigrant, $131,075 93; mail, $118,961 91; express, $302,654 54; general freights, $12,932,656 88, and other, $265,401 41total, $17,250,811 73. Operating expenses, including taxes, etc., $12,203,267 60. Nett earnings, $5,047,544 13.

Statement of operations and results for eight years:

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74.778 146.852 General freight. 7,668,420

75.598 76.830 80.130 263.129 315.411 483,721

65.240 84.932 99.981 118,962 330.495 291.881 302.655

8,602.262 10,361,999 11,193.565 11,709.204 11,832.300 12,882.165 12,932.657 160,194 128,148 248,712 471,023 474,028 349,322 265,401

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Gross earnings... 10,304,290 11,891,413 14,759,058 17,459,169, 16,583,883 16,340,156 17,233,497| 17,250,812 From which deduct maintaining and operating expenses as follows, viz. : Transportation. 1.320.459 1,702,147 3.031.331 3.736.280 3.646.75 3.517.259 3.609.23 3.503,793 Motive power....... 1.824.005 2.211.038 3.256,052 4,814,91- 3.797.83 3.252.143 Cars. 1,345,962 1,193,310| 2.004.993 1,657.62 1,961,01 1.528.388 Roadway.. 1,556.367 2,248,768 2,895,09 3,096.431 3,602,749 3.268.897 3.341.568 Gen. expenses.. 166,13 288,85 179,751 178,424 213,853

Operating exp..
Nett revenue.

867.332
78,314

117,138 152,600

3,361.693| 3.679,195

1,442.736 1.464.859

5,431,072 6,780,000 10,693,944 13,270,05 12,790,909 12,080,300 11,860,981 12,203,268

4,873,218 5,111,413 4,065,114 4,189,111 3,792,974 4,256,856 5,372,513 5,047,544

4,055.872
118.321
1,278.845

3,245.800 3,431.508 3,531.901

3,500,071

139.721

121.653 78,244

131,076

560.946

82.730 374.369

PHILADELPHIA AND ERIE RAILROAD.

This road was transferred to the Pennsylvania Railroad Company, under a lease for 999 years, on the 1st February, 1862. At that time 147.5 miles only were in operation. The length of road in operation yearly thereafter is shown in the following table:

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The stock of locomotives and cars (=8-wheel) in use on the road at the close of

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The earnings and expenses of the Philadelphia and Erie Railroad (from February

1, 1862, to December 31, 1869), were as follows:

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Passengers.

145.875

275.604

631,438 672,964

Troops

3.950

Freight.

228,173

Express matter.

U. S. mail

20.568 383.231 5.743) 11.6011 12.214 13.325

Miscellaneous

Gross earnings....

479.822 828,590 636.622 635.135 31.389 91.452 48.103 2.807) 545,033 1,083.925 1,744.299 1,631.902 2,101.614 2,507,083 16.345 26.887 26.942 28.875 30.954 31.327 14.390 19.088 18.502 18.436 21.518 21.617 29.732 23,133 44,164 21,201 16,584 16,605 18,726 26,714 425,687 727,670 1,131,148 2,071,141 2,541,052 2,833,760 2,804,250) 3,262,705

From which deduct maintenance and operating expenses, viz.:

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81.750 109.624! 217.216 537.518 620.8461 565.2961 610.774 671,606 70,515 127.379 231.699 627,050 621,215 618,359 600,284 733.415 68.155 215,603 354.163 562,619 682.947 621.778 677.029 749.642 6,225 11,757 32.455 13,835 158,936 172,445 178,914 213,546 226,647 461,369

199.010

833,591 1,746,052 2,036,974 2,010,873 2,067,001 2,368,209 263.301 292.554 323.089 454,078 322.887 737.219 894,496 122,697 218,301 335,709 598,708 732,739 677,239 820,421 956,009 76,313 45,000

43,155 270,619 278,661 354,352 83,175 61,513

General Revenue Account for year ending December 31, 1869.-Gross earnings -Pennsylvania Railroad, $17,250,811 73; Pittsburg, Fort Wayne and Chicago Rail

way, $4,146,882 22 and Philadelphia and Erie Railroad, $3,262,705 29—total, $24,660,399 24. Expenses of operating these lines-Pennsylvania Railroad, $12,203,267 60; Pittsburg, Fort Wayne and Chicago Railway, including rent, etc., $4,110,087 79; and Philadelphia and Erie Railroad, including 30 per cent. guaranteed the Company, $3,324,218 25-total, $19,637,573 64. Nett profit to Pennsylvania Company from the three railroads, $5,022,825 60. From this amount were paid-dividends, May and Nov., each 5 per cent., and taxes, $3,075,643 24; balance to debit of interest account and discount on bonds, $888,375 10; lease rent of Harrisburg and Lancaster Railroad, $135,274 18, and annual payment to the State of Pennsylvania on account of interest and principal due upon the purchase of the State works between Pittsburg and Philadelphia-$460,000-total payments, $4,557,292 52. Balance to credit of income account, $463,533 08.

Statement of the above aggregate account for eight years:

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Penn. RR..
Penn. Canal..

Phil. & Erie RR*

P., F.W.& Chi. R
Earnings.

10,304,291 11,891,413 14,759,058 17,459,169 16,583,883 16,340,156 17,233,497 17,250,812 251,482 287,157 308,615 181,015 297,867

425,687 727,670 1,131,148 2,074,141 2,541,052 2,333,760 2,804,251 3,262,705 4,146,882 10,981,460 12,906,240 16,198,821| 19,714.325 19,422,802 18,673,916 20,037,748 24,660,399 And the expenses of operating the several lines were:

Penn. RR.
Penn. Canal.

Phil. & Erie RR+
P.,F.W.& Chi.R.

Expenses..

Profits...

5,431,072 6,780,000 10,693,944 13,270,058 12,790,909 12,080,299 11,860,984| 12,203,268-
258,091 362,374 310,555 379,843 233,438
349,344

682,670 1,174,303 2,344,770 2,819,714 2,688,113 2,887,425 3,324.218 4,110,088 6,038,507 7,825,044 12,178,802 15,894,671 15,844,061 14,768,412 14,748,409 19,637,574 4,942,953 5,081,196 4,020,019 3,819,654 3,578,741 3,905,504 5,289,339 5,022,825

Disposed of as charged in the following accounts:

Interest.

State lien.

H. & L. lease

Extra div. fund..
Dividends..

Taxes on dividends & coup's Surplus..

572,175] 561,918 517,850 489,525 539,860
460,000 460,000 460,000 460,000
132,159 135,274 135,274 135,274
986,842 1,206,060 1,523,637 1,997,265
323,610 515,433
1,887,331 2,717,944 1,159,648|| 222,157

618,684 701,611 888,375 460,000 460,000 460,000 460,000 135,274 135,274 135,274 135,274 1,190,000 1,737,969 1,337,669 3,242,282 3,075,643

438,855 (included in dividends, etc.) 276,783 163,877 750,172 463,533

* Taken possession of Feb. 1, 1862. Including 30 p. c. set aside under lease for bond interest, etc. Previous to 1862 the stockholders received an average of 64 per cent. on their investment. Since 1861 the following cash dividends have been paid (May and November): 1862, 4x4 per cent.; 1863, 4x5 per cent.; 1864, 5x5 per cent.; 1865, 5x5 per cent.; 1866, 5x4 per cent.; 1867, 3x3 per cent.; 1868, 3x5 per cent.; and in 1869, 5x5 per cent. Stock dividends have been as follows: May, 1864, 30 per cent.; May, 1867, 5 per cent.; and May, 1868, 5 per cent.

General Balances.-Capital stock, 669,862 shares, $33,493,112 50; funded debt1st mortgage 6 per cent. bonds, due 1880, $4,972,000; 2d mortgage 6 per cent. bonds, due 1875, $4,866,840; general 6 per cent. bonds, due 1910, $6,826,500; lien of the State upon the Public Works between Philadelphia and Pittsburg, purchased by this Company, being 5 per cent. interest, payable in annual instalments of $460,000, applicable first to the interest and the remainder to principal (the original amount of which was $7,500,000), $6,082,538 14; short 6 per cent. bonds or debentures, due 1871, $1,114,224; and 6 per cent. mortgages and ground-rents remaining on real estate purchased, $102,809 32-total funded debt, $23,964,911 46; bills and accounts payable, $5,573,323 10; contingent fund, $1,000,000; and balance, $998,955 46.

Per contra: Property-Railroad between Harrisburg and Pittsburg, 276 miles, and stations, warehouses, shops, etc., on whole line from Philadelphia to Pittsburg, $14,087,741 13; Philadelphia and Columbia RR. purchase, $5,375,733 43; equipment, $6,182,448 17; real estate and telegraph line, $4,271,506 88, and extensions to S. bank of the Monongahela and to the Delaware, including wharves and grain-elevator, $2,475,437 10-total cost of property, $32,392,866 71; stocks and bonds-H. & L. RR. stock, 15,365 shares, $768,250; Connecting RR. stock, 25,547 shares, $1,277,350; Philadelphia and Erie RR. stock (exclusive of 48,000 shares of preferred 8 p. c. stock in the sinking fund), 31,636 shares, $779,637 26; Pittsburg, Cincinnati and St. Louis RR. stock and bonds, $7,676,695 31; Pennsylvania Canal stock, 70,231 shares, $1,101,156; other railroad and municipal stock and bonds, $6,019,221 01; and cost of stocks and bonds in sinking fund to pay Pennsylvania RR. 2d mortgage and H. & L. RR. 1st mortgage bonds, $2,433,432 35-total stocks and bonds, $20,055,741 93; fuel and materials, $1,899,428 49; advanced for fuel, etc., to Philadelphia and Erie RR., $407,854; advanced to operate Philadelphia and Erie RR., $538,337 50; bills and accounts receivable, $8,086,147 74; balance in hands of agents, $804,182 34; and of Treasurer, $845,743 74........... .Total, of all accounts, $65,030,302 52. Statement of general balance December 1, 1862-69 inclusive:

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Capital stock..

2d

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13,274,100 13.430,250 19,896,060 20,000,000 20,000,000 21,045.750 27.040,762 33,493,113 1st m.6 p.c. bs. 80 4,980,000 4,980,000 4,980,000 4,980.000 4,980,000 1875 4,547,400 4,904,840 4,904,840 4,904,840 4,904,840 Gen. 1910 State lien 5 p. c... Short bds., 6 p. c... Mtgs. & ground]

rents, 6 p. c... Bills and acc'ts.. Extra div. fund. Contingent

7,000,000 6,900,000 6,800,000

6,700,000 6,600,000
1,554,048

4,972.000 4,972.000 4,972,000 4,880,840 4.877.840 4,866,840 59,000 1,545.000 6.826,500 6,375,734 6,232,755 6,082,538 3,400,000 3,520,728

1,114,224

169.364
839,172

164.284 1,129,388

117,284 2,393,461

155,284 3,651,447

117,809 2.727,493

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170,182
3,062,114
1,110,000 1,300,000

885.641 1,000.000 1,000.000 1,000,000 1,000.000 Bal.(pr'fit & loss) 3,628,537 5,786,906 3,428,691 4,449,225

Total.....

870,415

998,955

35,324,214 38,295,668 43,520,336 45,850,796 44,251,599 46,100,425 54,143,745 65,030,302 Per contra: Accounted for in the following charges, viz. :

Main line and

branches

State works purchase Equipment.. Real estate and telegraph Extensions, etc.

16,840,272 16,788,248 16,752,151 16,745,091 13,500,000 13,540,950 13,568,630 14,087,741

7,000,000 6,900,000 6,800,000 6,700,000 6,600,000 5,375,733 3,375,733 5,375,734 3,582,204 3,543,481 3,385,315 3,375,024 3,371,215 4,476,850 4,476,850 6,182,448

1,937,105 2,568,902 3,814,971 3,066,467 3,421,481 3,481,642 3,978,658 4,271,507 528,970 791,664 1,272,454 1,922,752 2,121,158 2,239,844 2,366,662 2,475,437 Construction.... 29,888,551 30,592,298 31,024,891 31,809,334 29,013,854 29,115,019 29,761,533 32,392,867

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