Staunton vindicator. [volume] (Staunton, Va.) 1860-1896, 1888-11-30
VALLEY RAILWAY COMPANY.
ANNUAL MEETING OF STOCKHOLDERS.

ANNUAL MEETING OF STOCKHOLDERS.
The seventeenth annual meeting OF
stockholders OF the Valley Il. r. Co, was
held in the Office of Sheffsy & Bumgard-
liner, in Stanton, on Friday last at ?. M.
| with Mr.. VIM. A. Burke in the chair aud
Mr.. G. H. Slaughter acting Secretary.
The following gentlemen from abroad
interested in the Valley Road. were pres
ent: Mr.. John A. Robb representing the
stock of the city of Baltimore. Mr. Henry
Duval that of the Baltimore e Ohio L. H.
Co., Hon. VIM. A. Anderson that OF the
town of Lexington, and in addition there
were several individual stockholders.
There were no representatives Of the
stock held by the counties of Rockbridge,
Botetourt, and the city of S5aupton.
The Secretary then read the
Seventh Annual Report.
OFFICE OF THB VALLEY R. Co.
Stanton, october l, 1883 J
To the Stockholders Of the Valley Railroad Co:
The President and Board of Directors submit
the following Report of the operations OF the
Valley Railroad for the fiscal year ended Sep
TENDER Both, 1888:
1856. 1887. 1888.
Number of miles operated ...... 81 81 so
Gross earnings 1888. 1887 Decrease.
from traffic SIP 282 80 Sll5,st7.07 s 3.62i7S
Receipts from - .
other sources 5,56f.6I O,3boOo QUILL
Total. .sll7.s loss sl2a,272l2 sl.425le
Expenses........ 9Dol5 so 7S9o8.47 ll.ll23s
Decrease.
Net earnings. S27 s31l3 si336S.e5 1887 50
The de crease of SIS 537 so is II result of de-
crease OF S3624.7S in the gross earnings from
traffic and an increase i'll the operating ex-
This large increase in expenses is more than
unite for by the increase in the two items
of Repairs of Bridges and Repairs of Railway,
the necessities for which. arel explained under
the proper heads.
MILEAGE.
1898. 1887. Increase.
PASSENGER trains... II, Dol l.l6S 1873
Passenger cars. ......... OBI 1854 22i 1923 8736
Freight trains 62,449 56,660 $50
Freight cars. $3.50. 1926, 745 2469S 2045
BONDED INDEBTEDNESS OF THE COMPANY.
First mortgage bonds. authorized issue 81, 600 600
In Treasury OF Company ............ 2o00O0
Outstanding Observation-Disclosures. S750.000
statement of the current account with the
Baltimore & OHIO Railroad Company, marked
"a, is also submitted.
The accompanying statement, marked 3D."
shows the receipts and disbursements OF cash
The statement marked sc" shows in detail
The state ment of ounty Bonds owned by the
Com any is attached hereto. mark ed D."
The interest is paid regularly upon S23. 700 of
Rockbridge County, and $4,000 of BoLetourt
County. Bonds.
Exhibit "E' shows in detail the classified
Earnings and Working Expenses for the fiscal
year in comparison with the year previous,
with the percentages of inci ease and decrease
In 1887 there were received from the Balii-
more q Ohio Railroad Co.. at Harrisonburg. 49,.
$50 tons of freight against ,293 tons in 1898
increase of 2.l3S tons.
no fyof dal R9ltjmnra a
Ohio Railroad Co., show decrease of Z ,202 tons,
the falling off being chiefly in live STOCK.
Evered to the Newport News q Miss issippi Val.
ley Co at stanton, while the freight received
from that Company shows 11s, a. decrease OF S,72i
There is decrease of 9S6 tons of freight de.
livered to the Richmond Allegheny Railroad
Co., as compared with the previous year, and
increase of 715 tons received from that Com
pany.
pany have been thoroughly maintained and
improved during The ear. There were laid in
the Main Line e3 first-elsss and 25O second
used. In the Joint Road 669 first-clsss cross
ties were laid
1923, 08, is explained by the necessity of heavy
repairs, and of strengthening all bridges and
placing them in such condition tha' the heavy
locomotives recently purchased could be used
on them with safety.
The increase ia expenses of Repairs of Rail-
way, 50. 296 IS, is attributable to the increase
o. er the previous year in the number OF cross
ties used and quantity of steel rail placed in
track.
The construction of the water station at Bluff ,
Switch accounts the increase in Expenses
of Repairs of Water Stations, $3.50 81.
The increase in expenses of Burden Cars,
S6l656, is due to change by all roads frsm
mileage charge Of q OF cent to q cent per mile
and IS cents per diem. After q trial of this sys-
t. N tor several months it has been abaD doned.
rne mpoy M Mt OF telegraph opera or at
Weyer's Cave, in compliance with the State
Law accounts for the increased expenses OF
GDeratOrS S2tO 60
The increase in expenses of Agents and
Clerks, S3l7 49, was caused by the increase OF
ore in the force q stanton, but q reGuc-
ton corresponding to this has re- emily been
made.
During the year there has been charged to
Construction Account 50. 547 10. OF this S20.-
5G0.-was for the purchase of one frst-class.
eight wheel passenger locomotive, and two
large ten wheel freight locomotives of the Con.
sol1dation pattern. This purchase will allow
the Company to DO away with the rental OF To-
comoJives and thus make a consider BILE
duction in expenses. s625. was paid for fen
cling along the line, and the balance in settle
ment OF claims for land damages, etc.
Tue Board takes pleasure in expressing to
all officers and employees its appreciation of
the faithful and efficient services rendered by
them during the year.
By order of the Board,
s. SPENCER,
President.
The committee appointed to examine
the Presidents report, found correct. 1t
was received and filed.
Judge Sheffey's motion, that the salary