Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1885-12-02

On behalf OF the Board OF Directors
! submit the following statement of the
business of the company for the fiscal
year ending S0th September, 1885;
Gross eipts-............... $50 10
Gross sT4el 81
Net earnings. ngs.........................s e5,16s 9s
Same for previous year...............s $1,000 80
The above balance was applied to in
terest on the debt, the usual per cent.
dividend on the stock, and to the work
on the James-river bridge. Contracts
have been made for the completion Of
the bridge, which will be done by
January, at total cost not exceeding
the original estimate.
The bonds that matured last April
have been paid, and the debt Of the
company has been reduced $ll, 900
during the year. The property known
as the Public Warehouse, between Sew
enth, Canal, Eighth, and Byrd streets,
nearly two acres in extent, has been
bought from the State by this company
and the Richmond, Fredericksburg and
Potomac Railroad Company for their
joint use, at a cost of $4,000. The
necessity for additional passenger and
freight accommodations in this city for
the daily increasing trade of the Allan
tic Coast line Of railroads constrained
the company to acquire this property,
even at the very high price paid. 1t is
believed that the additional traffic will
Justify the cost Of the lot and the fur
ther outlay needed for proper depot
buildings.
The usual semi-annual dividend Of .!
per cent. payable lst Of January has
been declared. The road is now laid
with steel rails for its entire length,
and in all other respects the property
has been fully maintained.
The tables accompanying this report
will show the business Of the company
in detail, as usual.
FRED. X. SCOTT, President.
sUPERINTENDENT's REPORT.
Superintendent r. NJ. Sully presents
a very full and interesting report Of his
department, from which we make the
following extracts
The earnings from all sources for the
year were From through travel, sil,
1910; locsl travel, s46, 1924 Clo-
YER Hill travel, sl,229.l0; through
freight, s54, ,060.30; local freight, $780,
69l.S3; Clover Hill freight, 81, 1885;
express, s4,637.74; mail, sll, ,50S.38; ;
miscellaneous, 81, 3S2. 25-total, sl92,-
650.79. Net decrease, s3,7lS.65.
The expenses Of operation for the
year were For conducting transporta-
ton, s34, ,357.45; for maintenance Of
motive-power, $25, ,S97 .G8; for mainte-
nance Of roadway, slG,5ll.52; for
maintenance Of cars, sll, ,567.GG; for
general expenses, s9,l4S.50; total,
s97 ,4Sl.Sl net decrease, $ll,156.GS.
The net earnings, after deducting the
expenses Of operation, are sos, 5,lGS.9S,
which is an increase over the preceding
year of sS,43S.03. The ratio Of
operating expenses to gross earnings is
SOC per cent.
While the increase in the through
business, both freight and passenger,
is substantial and gratifying, the falling
off in local business from the same
sources is to be regretted. AS far as !
have been able to learn, however, it is
an experience common to Virginia rail-
roads during the past year, and will be
remeded by more abundant crops and
the consequent improvement in the
general prosperity Of the country. The
falling off in receipts from the trans
portatiOn Of mail is apparent rather
han real, and is explained by the fact
hat the earnings from this source in
,luded the service for five quarters for
he fast mail in 1884, while for 1885
he earnings from this source are re-
ported only for four quarters. There
S really an increase in compensation
or carrying the mail.
The roadway and track arc in good
The embankment at the
south end Of James-Riyer bridge will
n the future only need such additional
as will be necessitated by the
Of new work.
The engines Of the company are in
generally fair condition, and are sufi-
ient in number for its service under
xisting circumstances.
Engine No. lS2, built in 1866, is
worm out, and little further service can
'e expected from it. Since the last an
lual report one engine has been broken
Up and one sold, which reduces the
lumber TO seven, six Of which are capa.
lie Of ordinary service.
Four engines have been changed from |
oal- to wood-burners, and the Others |
Vill be changed as opportunity offers. |
The car equipment has had extensive |
epairs, and much further work is |
eeded to put it in good working condi-
ion.
On February 3, 1885, a colored |
rakeman named Buck Battle was
illed near Manchester by falling from
he top of a freight car; and on April |
0, 1885, an extra train ran into the
ear car of freight train No. 6 at Poca-
ontas, slightly injuring two passengers
n the freight train.
The employees of the company have
cen jealous and efficient.
ELECTION OF OFFICERS.
The following officers were elected |
n the ensuing year: Major Frederick
!. Scott, president DR.. ID. W. Lassi-
n, II. X. Ellyson. w. T. Walters, r.
b. Bridgers, and II. Walters, directors.
Messrs. Charles Ellis, John p. Branch.
7. ii. Hsxall. III. E. G. Baskervill, |
nd b. F. Newcomer, were appointed
le committee Of examination for the
resent year.