The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1884-03-21

their terms were wholly or partly payable
In preferred stocks. were S979,260. The
total interest liabilities in cash for the cur
rent year 1884 will be $1,279, ,260.
The company has not yet realized the
full benefit OF IFS tidewater extension TO
Newport's News. During the spring
months OF the past year a considerable
dimnution OF business was caused by the
then unprecedented floods and consequent
damage inflicted upon the Ohio Valley,
where your road meets its important con-
nections. During the latter part OF the
year the refusal OF the European markets
10 take our breadstuffs, in consequence Of
the speculative prices maintained IN our
markets, has led TO an arrest OF ship
mentS, and has tended to keep down the
volume of through traffic and the receipts
therefrom.
GRAIN ELEVATOR.
The grain elevator at 'Newport's News,
to the constr uction OF which allusiOn was
made in my last report, has since then been
completed, and is now ready for business.
1t has a capacity of 100000 bushels, is
constructed on the most improved plans
with all modern appliances for handling
grain. and will without doubt prove one Of
the most efficient elevators on the Atlantic
seaboard. 1t must become avalmahle aux
Hilary TO your road and lead to large de-
veiopment Of its grain traffic.
COAL TRAFFIC.
am pleased to report that the coal trai-
fic, notwithstanding the depressed state OF
the iron manufacturing and other indus
tries upon which the consumption OF coal
largely depends, continues to show an in
crease. The number OF tons transported
over the road were as follows: 1882,
S49,01S tons: 1888, SS3,60S tons, of which
there were delivered at NewpoTt's News in
1882, 112, 134 tons; in 1888, 226, ,260 tons.
LUMBER.
The lumber traffic Of the road continues
to form an important item in its local buSi-
ness, the shipments over the line for the
wear, destined to seaboard points for eX-
port and coastwise trade aggregating 49,
133 tons.
During the year 1888 there were ar
rivals and departures at the port OF New
ports News, as follows: Steamers, 442 ;
sailing vessels, 272. OF this number III
were steamers taking fuel from the wharyes
of your company. Amuch larger number,
/ am satisfied, would have touched at this
harbor but for the arbitrary restrictions
placed upon this commerce by the compUl-
sorry pilOtage laws Of Virginia. >
The State could better afford to pension
the Pilot Association handsomely, and to
open that business 10 free competition,
without the compulsory feature, than to
maintain it in its present form.
THE MAIN TRACK.
.s.os,, f,ool. 80 ,-nVr rnoI l., noun in
excellent condition, as | can testify from
recent personal inspection, beng laid
throughout with steel rails, well drained
and balasted, and challenges comparison
with any other line OF similar magnitude
south of the Potomac or west OF the Allie
ghanes. The expenditures for the current
year, over current expenses, will he linz
tied to such enlargements and additional
facilities as will yield an immediate return
in increased earnings. Among these l
enumerate the following:
l. Additional wharf and terminal facilities at
Newport's News, and perhaps also at Old Point
Comfort, to accommodate the Increasing health
and tourist travel to both points.
?. Extension Of sidings al convenient points
between Charlottesville and the western terminus.
which may from time to time he Joined together
so as TO provide double track TO accommodate
heavy traffic on those divisions.
4. a
organizations which desire 10 establish works I'M
mediately tributary 10 your line in The way oil ac-
quisition 10 rights Of way and furnishing TIE su-
perstructure for graded road-beds'
These. however, are all matters which
will await the company's ability and con-
venience, and the conditions under which
they will be certain TO be remuEeratiye.
WESTERN CONNECTIONS.
Since the date OF my last report there
have been no important changes in the
western connections Of this company.
The Elizabethtown, Lexington and Big
Sandy railroad continues to be our princi-
pal western connection, and its operation
by your company under common man
aoement, in conformity with an agree
ment By which its net earnings are paid
over TO the lessor company, is, believe,
proying satisfactory TO both companies.
This arrangement results in greatly econo-
MIXING the expenses OF administration to
both companies, while neither impose any
burden upon or draws from the revenue OF
the other.
The Kentucks Central railroad, besides
reaching the important cities OF Covington,
Mavsyille, and Lexington, has been eX-
tended southwark about seventy miles to
near Livingston, Ky., making an lntersec'
tion with the road leading to knoxville
and noints southwark. and has quite re-
Gently been placed under the same general
suneryision and management as your lines,
so that hereafter it will prove more valu-
bile connection than heretofore 10 your
main line. and at the same time It's north
and south business between Clnclnnatl ana
points in Kentucky and Tennessee willnot
be prejudiced. .,-. ,,.,..
We continue to exchange business with
the Scioto- Valley Railway company,
through which, whenever the rates OF
fre;obt will Justify il, we are enabled TO
draw new business from the NORTHWEST
States over this line TO the seaboard.
We are receiving oyertures from roads
north of the Ohio with reference 10 I'M
proved connections, which will ahord tnelI
a still more perfect outlet to the seaooaIu
over your line than existing arrangements
and prominent among them Is tne
Cincinnati. indianapolis, st. LOUIS anu
Chicago railroad, between whose terminus
at the Grand Central depot In Clncinnati
and the terminus OF the Kentucky Cehtrai
in Covingtou less than mile OF distance
intervenes. II il Is found impracticabie 10
make satisfactory arrangements Tor tne uss US.
Of either OF the railroad bridges now Duilt
at that city IL may become necessary anu
expedient TO construct independently
new bridge at that point. and the STATE o'
Kentucky has authorized its erection Win
Ihe understanding that the city OF Coving-
ion will devote $500, 900 towards its cost.
The Louisville, Evansville and 81. LOUIS
,a,r. lIne) railroad has expressed its desire
to exchange business destined for SOUTH
eyn w Indiana, Southern Illinois, and 81:
7 ans and very considerable amount OF
,hrou0b traffic has been sent that way
Ths rorte between st. Louis and WASH
, .aaton - eity being one with great ADVANTAGE