The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1880-12-23
Chesapeake and Ohio Railway.

which are of interest to all, Virginians espec-
enterprise is intimately associated with the
development and progress of Virginia and
West Virginia. and as its returns indicate
favorable business demands, to that degree
does it argue the prosperity of the two Vir-
ginias. From the report ofthe President, Mr..
Huntington, to the Stockholders, and of Gen.
Wickham. Second Vice President and acting
manager, to the President, we learn the fol-
| lowing encouraging facts. The gross earnings
of the road for the year 1880 have been S2,514,-
245.91 and the gross operating expenses,
81 $40, 01S.15, showing an increase of earn
ings over 1879, 1929 ,703.54: an increase of
operating expenses over 1879, $437 $50. Din
| crease Of earnings over operating expenses of
| 1880 over 1879, $195 019.03 The per centage
OF increase of gross earnings over 1879 was
1903; the per centage of increase of operat-
ing expenses over 1879 was 1904; the per
centage of increase of earnings over operating
expenses of 1879 was 1915 The passenger
business has been increased by the sum of
$50, 761 so. The Vice President says: "In
/ March, 1879 it was determined to experiment
with lower local rates than those then in eff
feet (Which were five cents per mile for dis
tances under 100 miles and graded down to
three and one one-third cents per mile for 421
miles, and at certain points, where, on ac-
count of the character Of the population the
reduction was deemed likely to have the best
effect, special limited tickets were put on sale
at little over three cents per mile This
working well, the area ON which these tickets
were sold was extended from time to time I'M
til November 1880, when, becoming satisfied
of the benefit accruing from the experiment, a
rate for limited tickets of three and one-eighth
cents per mile was extended over the whole
line of road. The result has been that from
the 10th of November, 1S79-when this rate
went into general etfect-until the Both of
September, 1880, the increase of local passen-
ger revenue was about 30 per cent. over the
revenue for the same period of the preceding
fiscal year Whilst, of course this increase is
due to a considerable extent to the improve
ment in the condition of the country on the
line and its increasing development, yet con-
slider it chiefly attributable to the reduction of
rate, because find that the increase is rela-
lively as great in the agricultural districts as
it is in the manufacturing and mining dis
tricts. am therefore fully satisfied with the
results OF what was started as an expert
ment on our line, but what now regard
as the proper and fixed policy of the com
pany."
1
During the year so miles of steel rails were
laid, supplanting the old iron Fails, making 1898
miles of steel rails out of 423 miles from
James River Wharves to Huntington, W. Va
This policy will be continued until the entire
line is laid with steel rails, and the road in all
respects made frst-class. The increase in the
sidings to accommodate the increasing bust
ness Of the line, will be gradually continued,
until full double track will be the result, the
tunnels and the bridges mostly having been
constructed with reference to double track
road. The completion of the road from Hun
| tington to Ashland, KY, is announced and
woik is rapidly progressing on the uncom-
| pleted sections which will furnish connected
| line to Lexington, KY, where choice of
routes will be had to Cincinnati, Chattanooga
and Louisville-all of them important centres
Of trade. This connection, it is expected,
will be completed by the first of May, and in
| running order. With the whole West and
| Southwest thus brought into direct and mme-
date connection with the main stem of the
| Chesapeake and Ohio Road, the necessity for
an eastern outlet for the largely increased
hafic becomes apparent. With reference to
this, Mr.. Huntington says
| After much research and deliberation on
| the subject OF suitable point on the lower
Chesapeake waters for terminus, the di-
recto rs authorized me to acquire sufficient
| ground and waterfront for the purpose at
| Newport Point, fronting on Hampton
Roads, at the confluence of the James river
with the waters of the great bay, and within
| sight of the ocean; and the company has &C
cordingly signified its acceptance of the act of
Assembly passed in 1879 for that object This
is point so designated and adopted by ma
ture that it will require comparatively little at
the hands of man to fit it for our purposes
The loadstead (Hampton), well known to al.
maritime circles, is large enough to float the
ocean commerce of the world. 1t is easily ap-
| preached IN all winds and weather without
| pilot or tow; it is never troubled by ice and
there is water enough to float any ship that
sails the seas, and at the same time it is so
sheltered that vessels can lie there in perfect
safety at all seasons of the year. Lands have
been secured having considerable frontage on
| deep water, and two wharves contracted for
to extend out to twenty five feet of water at
low tide, with the necessary coal-tipples and
shutes for coaling both regular coastwise YES
| sells i'll the trade and other vessels wanting fuel,
and with the most improved facilities for the
handling and transfer of general merchandise
and agricultural products.
! These are expected to be in readiness by the
June next, and it is necessary that we should
have the tracks there by that time to put them
TO use. A very good line, with easy grades,
has been obtained in about seventy-five miles
| distant Q Nothing in the work to be done
need decay the completion of this line beyond
the time of opening the road to Lexington, say
| by the list of June next. Abundance of labor
is to be had on the Peninsula during the win
| ter tor graduation, and it is therefore for the
! interest of the company TO have this work far
| advanced so that its early completion will be
interiered with as little as possible by the de-
| mand for farm laborers in the spring. I he
work of construction down the peninsula has
! been commenced, and should be completed at
the latest by the LIST of July, 1881, and there is
no doubt that this extension will add very
much to the value of your property.
These works completed, your road will have
lto Iuuh clu resting upon perhaps Tie HneSt
harbor in the world its main stem extending
by easy grades through the rich iron and coal
fields of the two Virginas, and its western ex-
tension penetrating directly the fertileOho and
Mississippi Valleys and atfording the best line
over which to transfer their products out to
the sea on their way to coastwise and Euro
pean markets.
The following directors were UNANIMOUSLY
elected for the ensuing wear. c. Hun
tington, New York; 2. A. A. Low, New
York. 3. A. S. Hatch, New York; 4. Elias
Higgins, New York 5. John Castreo, New
York; g. Jesse Hoyt, New York; 7. A. E.
Orr, New York; s. Ezra Wheeler, New York;
8. Edward t. Tournler; TO- Williams c.
Wickham, Virginia; II. John Echols, Vir-
ginia.
The Way Good Credit Works.