The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1880-12-17


General Wickbam next read the annual
report Of the President and Board OF Di.
rectors, as follows:
TO the Stockholders:
| The earnings from transportation for the
/ fiscal year were as follows:
An increase over 1870 of........... 562.67o I'll
| From passengers &c................ 594 151 So
An increase over 1879 of............ 60,033 33
An increase over is79 cf.... ......... o22,7Us 81
The operating expenses for The year
An lnei ease over 1879 of........... 48?6s5 81
Leaving net earnings.. b69,2Z7 63
An increase over 1879 Of. ......... 1o5,016 e3
| For the details and changes in the years
business you are referred to SecoDd-Vice-
President Wickham's accompanying report.
The mileage upon which these earnings
and expenses have been made is substan-
TALLY the same as for seven years past-that
| is to say, on the main line between the
wharves below Richmond and the Ohio
river at Huntington, a distance OF 423 miles,
no new outside sources OF business OF i'm
portance having been opened during the pe-
Rod: and the improvement is due almost
wholly 10 the greater activity Of the several
| industries naturally tributary to the rail-
road. In that period, IL will be seen, the
tonnage has more than trcUed, and the
number OF tOn.miles has Quadrubled. but at
the same time the earnings have not IN
creased in like proportion. While, there
fore, the above figures are from one point OF
view gratifying, as showing the increased
amount OF business offering to the road, the
compensation received is not so satisfactory.
Reference has been made in previous re-
ports TO the disabilities the company was
laboring under in being obliged TO transfer
| IL ,f "a hfa fraiu fg n
and from waler craft at both ends OF the
road. Experience shows that the cost OF
one such break OF bulk is, in the case OF some
kinds OF freight, equal in expense to an adj
dtional haul OF from 100 to 800 miles, or
epough TO be prohibitive rs against compe-
ting all.rall lines OF much greater length.
Wherever freight can be wheeled TO its ulti-
mate destination, In carload lots, it is every
wear becoming more important that aD I'M
broken haul should be made from the field
or factory where il is produced to where 1t Is
to be consumed. For want Of through con-
nections by rail and deep-water facilities the
business done by your road is far less than
its full capacity. Even the ores, coal, and
coke. which can be produced in such
abur dance along the line Of road, have not
Welded the returns they ought, the differ
ence between their value at the mine and at
their ultimate market going neither to Inc
! producer nor to the railroad company TO the
extent that it ought to do, too large a per-
centaye Of IT being consumed by various
drawbacks incident 10 our want Of connec-
tiop and adequate facilities. The revenues
from these three minerals, together with
pig.iron and lumber, az fair rates, ought 10
WELD the company a much larger revenue
than they now do, and will do so when the
improvements now in progress are COM
pleted.
The coal tonnage east and west continues
; TO increase, the shipments for the year
. beinr 409.342 tons-an increase OF 120,'
, go tons, or more than 80 per cent. ovei
, the wear 1879; and this is but small par
of what YOUR road ought 10 do when com
. pleted to deep water on the Lower Chesi
peako.
: The passenger traffic OF your road shows
=. q steady and gradual Improvement IRON
, year TO year; and further increase OF th'
= passenger movement may DE iookeu ior
> especially in summer, from the completion
!. OF the line iDtersectng your road a
y Waynesboro' from Harrisburg Uid Hagers
town, and noticeaby so from the compile
ton OF your more intimate western connee
tions TO the Blue.Grass region In Centra
, Kentuckv.-both Of which will be completed
, early in tue coming year in time Tor the
> season OF pleasure-trave to the ceie
brated White Sulphur Springs and 0thel
summer resorts in the Virginias. Ii i
: ou,te apparent that this summer travel u
, susceptible OF development TO far greater
:, proporiions il only the owners and man
|. ayers of the properties aud hotels will dt
" their part TO keep abreast OF the require
ments of this class OF patrons. Now tina
, the railroad Is fully so. there can be M
longer plausible excuse for the neglect.
Your president and directors have glver
.. very earnest attention TO the subject o
3 remedying and supplying the dehc'encie
- above noted; and it Is with some sa'isiac
, tion. therefore, that we are able to report Il
u Won that. in view OF the completion OF tn
lElzabetbtown, Lexington and Big Sana'
:. railroad. this company has during The yea
y built and opened the eight and three-quar
!. ter miles OF its road between the depot a
= Huntington and the western bank OF tn
= Rig Sandy river, where connection Is mad
=. with the Kentucky road as far as Ashland.
From Ashland O road Is completed Tour
!, teen miles further, and the gap between IL
j. terminus and the Mount Sterling terminu
. Is about eighty miles, upon which q lare
force Is at work, and it Is expected the lin
- will be opened for traffic by May next
. The immediate benefit we may hope to dc
rive from the opening OF the line to ASH
= land will be access for the ores and COX
- from the NewRiyer and Kanawha valley
to the iron furnaces at Ashland, lronton
= and Hanging Rock the transfer to the ia'
Ter poipts on the north bank OF the Ohl
- river is to be made by ferry at Ashland
:, point to which an extenson OF the eciotc
y Valley railroad has been about completed
- and arrangements made for an inferchang
of traffic between che three compahie:
4. This connection will bring consideraDl
70 business TO your road from Central ON
s. land Michigan.
s or. vastly greater consequence 10 you
n. interests will be the opening OF the roa
in through to Lexington, ky., as there yo
Il. will have choice OF routes to Cincinnat
ID very direct line 10 Chattanooga, Tenn
In aud direct connection TO Lcuisvllle--all
,v them important railroad centres Tor ID
is country beyond. We can then comment
or running a line Of through cars betwee
~ Richmond, or possibly from washington
"a 1D. c., to Lexington. and, II " De deeme
al desirable, ~ Louisville, Ky. :.
IL is obviously only matter OF is
OF wears at furthest when the remaining WIZ
II. eange roads south Of the OHIO river VIII
r.. reduced TO the standard gauge, when II
er South and Southwest lines generally will
zoe open TO your cars, aud the positive advsl
Itages OF your trunk line offered 70 thc
without transfer betweenthe cotton plant
er tion and the Chesapeake tide-wateF.
Ills After much research and deliDeraticn