ERIE RAILROAD COMPANY operates one of the lead ing trunk-line railroads connecting New York city with Chicago, Ill. The original company, the New York and Erie Railroad Company, incorporated by a special act of the legislature of the State of New York, April 24, 1832, met with financial reverses and was succeeded in 1861 by the Erie Railway Company, which was succeeded in 1878 by the New York, Lake Erie and Western Railroad Company, which latter was succeeded in turn by the present Erie Railroad Company, incorporated in New York in 1895 as the result of a reorganization of its predecessor company. The company operates 2,305 m. of railway, extending from Jersey City, N.J. (its main terminal) to Scranton, Pa., Rochester and Buffalo, N.Y., Cleveland and Cincinnati, O., and Chicago, Ill. The Erie Railroad Company owns the entire capital stock or holds under perpetual leases a large number of subsidiary lines which it operates, and owns a substantial majority of the capital stock of the New York, Susquehanna and Western and the New Jersey and New York railroads with a mileage of some 261 m. which are operated independently. It also owns the entire capital stock of four large coal companies with mines (both bituminous and anthracite) in eight counties in Pennsylvania, from which it re ceives a portion of its fuel supply and a large amount of coal traffic. Since the reorganization of 1895 the road has been vir tually rebuilt throughout its length, grades have been reduced, heavier rails introduced, bridges and stone ballast installed and double tracking completed until the Erie was in 1934 a first class double-track, low-grade line between Jersey City, N.J., and Chicago, Ill.
For the year ended December 31, 1934 the total operating rev enues were $75,064,I 22 of which merchandise contributed coal $16,546,21I ; and passenger traffic $5,223,021. The oper ating ratio for 1934 was 7 2.3 5 as compared with 71.6o in The company's investment was stated at $610,075,167. Capital stock consisted of $47,904,400, 4% non-cumulative first preferred, $15,857,000, 4% non-cumulative second preferred, and $151,1o6, 70o common.
Besides a large anthracite traffic and a large general merchandise traffic, the Erie is second in number of commuters handled daily in and out of Greater New York. It also maintains a standard fast passenger service between New York, Buffalo, Cleveland, Chicago, and intermediate points. It is one of the so-called Van Sweringen group of railroads. (C. E. DE.)