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This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1909 Excerpt:...R. R. in exchange for Car Trust and Water Certificates, and other securities (mentioned in the paragraph next preceding), the money to be used by the Pennsylvania R. R. to pay for equipment and completion of a comprehensive water supply system. For the year 1908, the gross earnings of the Pennsylvania Lines west of Pittsburgh and Erie (directly operated) decreased $18,673,100, and the net earnings decreased $2,045,400. Included in these totals are the lines operated by the Pennsylvania Co. and other lines west of Pittsburgh. PHILADELPHIA, BALTIMORE & WASHINGTON R. R. The Philadelphia, Wilmington & Baltimore R. R. and the Baltimore & Potomac R. R. companies (the latter formerly leased line), were consolidated on November 1, 1902, into the Philadelphia, Baltimore & Washington R. R. Under the agreement of consolidation, there was issued $17,724,150 capital stock of the new company in exchange for $11,816,100 stock of the Philadelphia, Wilmington & Baltimore R. R. and $2,765,000 stock in exchange for $5,530,000 stock of the Baltimore & Potomac R. R. Also in accordance with the provision of the agreement of consolidation, $3,000,000 of Baltimore & Potomac R. R. 5 per cent, Consolidated Mortgage bonds held by the Pennsylvania R. R. were exchanged for a like amount of stock of the new company, thus making the outstanding stock of the Philadelphia, Baltimore & Washington R. R. $23,489,150. In 1907, there was sold to stockholders at par $1,644,400 new stock, the proceeds being applied toward improvements. The amount outstanding on December 31, 1907, was $25,137,950, of which the Pennsylvania R. R. owned $25,135,475. This company is paying dividends at the rate of 4 per cent, per annum, payable semi-annually, June and December. The Phi...