The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1886-03-26
VERY GOOD SHOWING
Arp.w.&KY, ANNUAL MEETING
Held at tho OOmpRpy'S ONCE In this CITY
Yesterday A Decided Increase in freight
Traffic, but Decline in the Rev.
snus from local Passenger.


Yesterday a Decided InCFsRSoin freight
Traffic, but Decline in the Rev
Suue from local Passenger.
The annual meeting Of the stockholders
Of tie Pittsburgh, Wheeling & Kentucky
Railroad Company was held at the Office
Of the company in this city yesterday
There was not a large number present.
the stockholders being nearly all repre-
scented by proxy. Ohio county was
not represented. Hon, O. d. Hubbard,
Of this city, President, presided, and Mr.,
8. B. Liggett, Of Pittsburgh, Secretary Of
the Pittsburgh, Cincinnati & st. Louis
Railway Company and the Pennsylvania
Company, WAS present representing the
interests Of the Pennsylvania Company
and acting as secretary.
The election for Directors resulted in
the reelection Of tho old Board, which Ia
composed Of Hon. o. D, Hubbard, Capt,
John Mcclure and Mr.. NJ. Rsilly, Of this
city; Mr.. VIM. Thaw and Mr.. Thomas
D. Messler, Of Pittsburgh, and H. G.
Lazear, OF Lazearville, Brooke county.
President Hubbard presented his an.
uual report, which was quite lengthy, and
showed In detail the onerations OF the
road for the past year. Extracts from II
are given below. AS Ohio county Is one
Of the Stockholders in this road more
than ordinary public interest attaches to
the report.
THE PRESIDENTS REPORT.
The gross esanings OF the road as report
ed by the lessee were Sl2S024 81. The
operating expenses were SsS733 ~ and
the hire Of equipment, Sl2, 1877 81, making
a total expense Of $l00S90 03. leaving as
net earningsfor the year $27, 1873 Il. From
this amount there had to be deducted the
amount OF 1854 81 paid TO the PostoitlCe
Department on account Of over.allowanCe
for mail service from July /, 1881, to Do.
Gember 81, 1884, leaving es net earnings,
s28,570 IA. 10 this is added the sum Of
Sl3, 402 Is, a balance due by the lessee,
exclusive OF bettermenls, making the
amount due by lessee December 81, 1885,
IN. account Of net earnings S4O,07l 80.
Payments on this account we're made TO
John L, Davidson, treasurer, during 1885,
amounting 10 $40 800, leaving the amount
due by the lessee December 81, 1885, on
account OF net earnings, $l0,57l 80.
December 81, 1884, thOre was due the
lessee for bottermehts 10 main line So
$50 rs. There was expended in 1885 on
the main line, slS6l3 90 OH the Benwood
extension, $3,7SS So; deductiug cash re.
ceived from Treasurer Davidson, u, 1853 IS,
a balance OF S25,SI3 "a is left as the
balance due the lessee December 81, 1856,
for betterments, and AeduCting from TINS
amount the RlO,57l 50 due by the lessee
On account oil net earnings, the balance left
due the lessee December 81, 1885, Is $l4,-
SOL 45.
The earnings OF the road for the year
1885, compared with those Of 1884, show
the following: The increase in freight
earnings was $l1 ,070 IS or 10 70 percent /;
IN miscellaneous, 5000 81 or 90 o. percent.
The decrease in passenger receipts was
s13, 1856 "a or % 40 percent; in express,
s375.28 or 10 o. percent; in mails, SOS o.
or IS percent; in rents, $2l.S5 or 81 40
percent. The total decrease OF the earn.
lngs Of 1885, compared With those OF 1884,
was 81, 270 b3 or "a percent.
The increase Of motive power expenses
was 1888 AZ or2S0 percent. The decrease
Of thu cost Of conducting transportation
was 1851 "a or 1863 perCentj Of mainten-
snce Of way, $l0,5O7 "a or 23.07 percent /;
Of general expenses, S674 "a or 1016 per-
cent. The total decrease Of expenses was
81, $40 20 or II 80 percent
A YEARS BUSINESS.
In 1885 the number Of tons Of freight
carried was 202, 24l, or 6,44l,222 tons car
ried one mile, the revenue from which was
$77, 245 &c. Tho number Of passengers
carried was 106,006, or / ,059, 800 carried
one mile, the revenue from which was
As 43S 80. This Is an increase Of 20, 106
tons or 4675 percent over that carried In
1884. There WAS q decrease Of $4,000 In
the number Of passengers carried-20 So
percent. 1.-THE increase Of tonnage was
about equally divided bstween the local
and foreign, or42,7SS tons Of tho former
and 30, 81 tons OF the latter, while the de.
crease in passengers was wholly local. The
decrease In passenger earnings can be nc.
counted for largely by the long strike In
the nail mills Of Wheeling and vicinity,
which has continued from June l 10 this
time, and the depression In general bust.
ness caused thereby"
DeduCting the increase In the hire Of
equipment from the decrease In expenses
leaves the decrease In expenses 81, O42 90,
and from this, deduCtIng the decrease
Ia earnings, an increase otnet earnings 10
left amounting " $767203 over those Of
1884, the net earnings otthat year being
$40 481 BS and those Of 1885 $27, 1888 II.
The fixed charges annually against tho
net earnings Of the road are a. follows:
Interest on $500, 900 tiret mortgage bonds
at percent, $4,000; sinking fund ior 10.
deinptloh oil same, $1,000 lntereston $780,.
0OOol consolidated mortgage bondsat0 per.
cent, $1,000, sinking fund for redemption
Of same-l percent, 81. 900 total, $50, 500.
This atnoutt deducted from the net earn.
inVa leaves In the hands Of the treasurer
1888 II.
Under the head Of betterments were the
following. New freight depot and spur
track az Wheeling, $iL031 81 grading
and paving foadwa At wharf, 81, 400 pay.
inp AZ freight depot, $l,S80 on new sid.
inasat passenger station, 81, $50 50 rights
Of way and recording deeds, 81 1000 SOL re.
baifs 10 passenger station, $267 O6 total
ki94i0 N, beitafnenlg 10 BanWOod ex.
tension, Ss,7sS $751; total S92, 100 30. The
OHIO River road Under the agreement be.
tween the roads, pays interest at the rate
Of 8 percent on all Of the beltefmenl6
made ior the Joint use oil both roads. The
we're made under an arrange.
,,sat,I Khak fha paahaviOaNta Nas,.t,Sst, I.