Staunton spectator. [volume] (Staunton, Va.) 1849-1896, 1885-11-18

Net Income as above. $40, 42l.S4
Excess after meeting fixed charges. SAILS
The bond statement for the ear is filed here
with marked d."
Exhibit "E' shows the comparative earn
ings aud woratug expenses Tor the fiscal veal
as compared with tue Year previous.
The decrease in tile loGal aud through pa
seugef traffic is accounted or By the witt
drawal in the early part OF the year of tn
NtghL Express trains; but he loss IN Teeenu
is more han compensated for by he reduction
in EXPENSES Tor passenger train service whic
show ii decrease oil 43 per cent
Tnei has been only a slight increase in III,
Local Freight bu-lness, Notwithstanding In
opening OF NO additional stations This b,,i
been dne TO The CONTINUED d-pres sion in bus
ness. espe ;iAily in The Valley, owing 10 ID,
prolonged drought and the Consequent smai
and inferior crops
There has bee n gratifying increase il
Through freight business and but for The de
moraiizaiion in through raies W hicu has pre-
vailed for the greater purtlon OF the year. Nit
revenue frODi this source would have bter
mucu larger
During tin ear the Trunk Lines have worke
at un munera I've tales Oh almost all tn Dug
tra1lc. Tine raIes On z ain AL prov isions iron
Chicago and other western cIiles To soutnei j
points necessarily decreased with the rum
Line rates 10 he seaboato; and the bushes.
over the Valley Railroad from western point
to the Ricnmoud d AIegnany u las south
ern connections consists almost entirely OF thi.
class of traffic. 1t has therefore been necessa
ry 10 perform this service in many cases a
even less than cost, ia order to prevent di
version of the traffic To other lines and the
possibility OF It's permanent loss.
The recent resturaI OF harmony between
The Trunk Lines and the resulting Increase IL
rates Will materially add To the revenue q
your ompauy IL this connection.
There was during ID por ion OF the year some
activity in the iro trade and its kindred in
dustrles. and Tue Company Carried 22.733 tour
Oh coke against only 64i tons for the year pre-
vious, aud the tonnage of mill products also
1. creased mat -rialy.
AsyeG but little ore has been moved from the
a ptf
the adjoining iron districts of Pennss wanna,
"a, IL Is nope.i tnat-tne openit up to this ore
field " ill not be much longer de,eired. the de-
veopment OF which Will add greatly TO the
Compauy's revenue.
Exhibit "E' shows IN detail the expenditure,
on account of Cons, ructiOn on the Lexington
extension since the resum ption of work in 1851
10 dale, the total amount being SOL S33 90 h Oh
is si74. 26l.S less than the estimate of the En-
gineers, including cost of Rlghto OF way.
Since The Closing of The old construction &C
count with the Baltimore d Ohio r. R Co.. il
has been found es,ary to make certain bet
terments In The construction OF additional sta
tion buildings aud sidings, and in the perma.
nent improvement of the road bed.
To provide Tor such expenditures leans hav,
been secured from the Il more & Ohio r. r
Co from time t time the aggregate amour
at the close of this year being 1877 IL as showr
In statement u - herewith. This account wi |
be gradual v liQuidatet by the sale of County
bonds now III the Treasury OF the Company
This method of providing for bettermenls alb
go utely required has Teen preferred to that o
placing AT less than par the mortgage bonds q
the Co as the County bonds on hand reaii 1,
command par and accrued interest.
AT Timber Ridge a neat and suitable station
building has been erected and an add,tiona
side track laid.
teen cubic yards of stone ballast have been pu
into the main tracA during the year.
At Lexington frame engine house will
capacity for Two engines has been built
A board fence along Greenvlle Avenue
Stanton 1873 feet in len tn feet high has beef
erected in accordance with the requirements o
the civ Council.
Cattle p sns We been built at Timber Ridg,
and a field Stations.
new passenger platform has been erected
and the siding extended at SpoJtswOod.
Aud frame section house, two stories with
kitchen, has been erected between Timber
Ridge and East LexiBgton; the cost Of all O
which has been Included IN the Construction
Account, Exhibit IF u
Al arrangement was m sde with outside par
ties for the erection at Folly Mills at their o WI
expense ola suitable station building, and
fl st C lass a. ency has been estab shed at thai
poInt;-the business SO far having been CRAFTY
ing.
The track and other properties of the Com
pany have not only been well IN lin tained bui
imp owed durlng the year.
The Tres les of bridge No So have been crib
bed. Tue tracks on bridges Nos. Is aud 70 have
been renewed. New stri gers have been pu
in No %, and No. "A has BE- n stree ihened b
al additional FUSS Tbe iooG bridge at Soup
leys south OF Pleasant Va ley has oeen renew
ed, and The overhead hig way bridge north o
5y~f's Gaze - iee5 IN lenstn, l6 feet wide
has been rebuilt.
e Water staff IN at stanton has been re
paired and ne pump and uOilrr put in.
a settlement with the Richmond d Allegha
ny K. h. Co, regardi"g the OF j nat prop
critics st aud near Lexington mas ben reac
ed. the Val r. Is. Cos expenditu es fu
construction a.Ing exceeded Those of to.
Rlchnlond ileguany Il Il. o between Eas
Lexlng' on JunctI III and Lexington Station b,
Go, this Company recoIvrs IN accordauc-
VITA The terms nj he .unlracL bel wteu The twt
Companies, an annual Income OF S4U0 43 AS i'll
teresL on The excess.
The business from the Richmond & Aliegha
ny comra d with the previous year shows
Incl ease al So per MT but the delivery mad
by the Valley to the R. & a. is still largely III
excess of he amount of business received iron,
that Company.
The Cunpa holds ia its Treasury SIG5 100 OF
Rock bi lege County Bonis, ana 81, SOL of Bote
tourt County Bonds, n total OF Sl49 6Ul, which
interest al SIX Per cent IL paid reg ularly.
There are also S25 U0J of the bonds of Roanoke
county held by the Comp ny on wnIcn no IN
teresL is paiu, but which, when the county o.
Roanoke makes good It's obligations to Lh
Company, must berume an available ar Set
II has been disappointing that the uet earn
1ngs from Ira ffic alone have not been suffic en-,
pecLed during he tirsL bali OF The but The
general depression in railroad earnings il.
which the Valley Railroad necessarily parJici-
pated, has been SO great, especially during tbs
last nall OF the ear, as TO more than account
for the failure -
Inc acknoWledy ment of the Board continues
10 pe que the Officers and employees for earnest
Respectfully submitted