The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1876-11-23
Business on the Baltimore d
OhiW Road

ANhASNN So
Tuesday morning, the annual meeting OF
the .so:kh } ler, Of III. Baltimore & Ohio
Road t9ok place q! Camden Station In
Bllim,rs on Monday last.
Mr. Garrett. submitted to them the
iiItsih apnu Al sia;smen. Of the business oil
the company. l. elbows earning on the
main liue aud various branches OF sl5.'
03l,s3J ~, a d.:rsI.s Of SS3l,sl7 OIL is
compared With the year ending sspsen-
Der S9.h, 1875. The passenger earnings
show slight increase, viz: from 1913,
80 2IIo l.G74,A75 60. There is heavy
falling OF in coal tonuage owing
to tho "hatd timeI." There was,
howevg., an increase in through freight
Eat aud west, from s72,l0l to l,093,s03
tons. Corn figures largely in this in
crease, there being an increase in this
Item Of 10 1854 bushels. There was
a sliyh. Increase in live stock and also in
lumber. There was likewise an increase
ol4s per cent. 10 petroleum freight, main
Iy over tho COqnellsvills division. Pc
ro!eum is now one OF the leading exports
OF Baltimore.
The earnings Of the Parksrsburg branch
waHsS779 32 80 a. increase oisS7, 652'SS'
TlO nGl earnings increased Slel' 4lS'So.
o. thousand nine hundred and twenty.
eiEh. tons Of steel and iron rails were
u..d on this branch during the year.
Tue earning, Of the Henpfsld branch
ws.o s50,sso is, an increase OF S2.55s 70.
The Central oaio earned $3.50, 1911 50 as
against sSs0772 81 last year. Tho Chi
epgo division 81, 23l, 7s5 SO against $685.
1871 %. The Lake Erie division $685.
o23 81 against s37l,3i3 a.
Tue net revenue Of the main stem and
branohe, i. s5,42l,a79 81. The agsre-
gate working expense, were 1888 per
cent Of the gross earnings, or AGO per
cent les, than last year.
Daring the year 2s,9l6 new croas'ttes,
and COOS tons Of steel and iron rails were
u,ed for repairs and the construction Of
additional tracks on the main stem. The
Iron rails used were made by the com.
pany at its rolling mill at Cumberland,
Of the hest material and Nre Of superior
quality. Five hundred and ninty.seyen
mile. Of track are now laid with steel
rails. The increased cost Of the large
quantity OF steel thus used in sub,titu-
ton for iron rail. has been charged to
the rcpair account. The economy and
advantage Of the substitution Of steel for
Iron railsso generally upon the line are
shown BY the important reduction
which Is mainly due to this change
stated by tho Road Department in the
cost Of the REPAIRS Of railway" Of $780,
46G G4.
Notice /. made in tho report OF the
new hotel built ut O,kland az iOllows:
"An extensive and excellent hotel has
been built at Oakland in the glades or
table lard Of the Alleghaniea, 200 feet
above the tide. This hUtel has proved
attractive to tourists and others. and il
10 believed will add materially to the pas
Benger traffic. The climate Of this re.
gIon is singuiarly salubrions, delightful
aud invIgOra,img, aud unsurpassed for
summer hvmes."
Dufiny The year two Grst class consoli
dated freight engines and four twelve.
wheeled passenger cars, six combination,
and ole mail aud baggage, and fourteen
drovars' cara have been built, and the
cost s9I,lso 20, charged to repair &c.
count.
Could the company have received 10 cts.
more pGr huudred on its East and West
through tonnage it would have made a
difFsrence in ils earnings OF s2,lsG,7s6.
10 wonder Nr. Garrett feels sore over
tho per.i,Iency with which the New York
Central adheres to its policy Of equaliz.
lug frsights over i,S line to the sea board
with the rates charged by tho Baltimore
& Ohio and other shorter lines than the
Central.
The mortgage Indebtedness, Of the Bal.
timorc & Ohio Company ia put down st
SIS, l6S,920 %. Tho amount Of reduc.
,ion during the year is not stated, but our
copy Of the report for 70 shows that the
amount Of mortgage debt was then S32,-
72s,SS4 So. exclusive Of bills payable. The
surpIu, fund Is put u: SS8,O22, 1906 s9.
Last year it was s2l ,0G0,70l 9s. The
point is made by Mr.. Garrett that this
surplus now exceeds tho mortgage debt
by S7,s5S,435 %.
Tho stock oil the company stands on the
books as follows: Main line stock Sl3,.
144,lOO; stock scrip $780, preferred 70
por cent? stock s4,SlS469 l2; Washing.
ton Branch Sl,G5O,OOO. Total $685.
43l IL.
The smallne's Of the capital stock Of the
D. x W COLuptEeu WIN tuo 03HSA 'eAu'N6
lines, would enable 1t to pay dividends
on greatly reduced amount Of earnings.
For the information Of the readers Of the
ISTELLIGEScER we herewith make the
comparison, as follows:
New York $50 4l9 too %
Nc" TvIk EE!O '..,:..... .".."...-. 70 SSo sl0 w
PS1nTylVAbla HEI!Tuld.""".... ....~. IlESI ~
Bal IuI 40 1880 81 u
This comparison, however, doea not do
Justice to the frat three roads. The sur.
plu. fund OF the Baltimore road Is really
part Of its capital. In order to earn
1t the stock holdsrs were kept out Of divi.
bends for many years. 1titwas capital.
lied tho stock OF the road would exceed
that OF the Pennsylvania road by three
millions Of dollars.
Mr.. Garrett concludes his report with
some remarks upon tho railroad situa-
ten, referring to the war In progress be-
tween the trunk lines in tue matter Of low
freIShp. In brieI, he says that the long.
=. H.. L., .u.,,,,,:.. AZ lon.t.a ,ha