Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1888-11-22
THE GREAT BELT LINE.
a FURTHER sTEP TOWARDS THE FEW
R&P. AEDR., F. &P. C0HEKCTI0S.
Proceedings Yesterday Of the Freiericks-
barg Railroad stockholders-
Fiscal RsportG

The stockholders OF the Richmond, Fred
erIcksburg and Potomac Railroad Company
convened in annual session yesterday at
noon IN the room Of the President OF the At
lantlc CoastLine IN the Byrd-Street station.
There were present Messrs. Edward Y.
Cannon, Charles Ellis, Powhatan Ellis, VII
liam Allison, James II. D0oley, l.. MoEcure
l,obinson, Jr.. Z. T. d. Myers, J. p. Brin-
Ton. r. T.. scott, John J.. Williams, John r.
BAYLOR, Mr. Lucke. Major J. II. Kelley
of Fredericksburg, Colonel Hillary Jones Of
Hanover. and George 4. Haynes, Esq, Of
Richmond three last named represent
ing tbe state Of Virginia.
lIr. Cannon was made chairman and Secre.
taTy j. r. Winston was at bis post. The
Committee on PrOXIes-through Colonel
Charles Ellis. chairman reported that Of
the Glil shares of stock held IN The company
j.2jl we're represented either IN person or
by proxy.
PRESIDENTS REPORT.
The following 4. the full text Of the PresI-
deuf's report, which was submitted and
read.
RiCHWOvn, November q, 1888
Tho iresldent nu1 directors respectfully pro
800. ''l- AIi.4'IN OI" i'ltN"lAf fiiih Va
ths c1mpauys operations tor the fiscal year end
Ing fcrtcutCr oJ, ls5-.
Income from transr rtation...........G Gg0,SS Gl
hcrcirfs from sleep ns-cars............ t.3f ul
Rents Of real estate ate........-........... l,'s2 ~
Total income. fG8, s4 20
Expelsea 0i sportauon............3 ~,00' IL
Observation-Disclosures p
Deduct interest On bonds and dividend
El4f4Ilnfal STOCK .... ''-' ......r.s. NI,-i7
Not pr9ii.-................... {lA,olf 81
II viii bo Observed by comparing thcsc figures
with flIsn OF last yonra report that tho gross
revenue derived from ttis years operations "a
greater br more Than $500 than that ~ last
yoer, iI tnat ihe not prit applicable 20 di'i-
drnds is less tilu that Of lat year bg nearly
Ihls i4 chiefly duo 20 tho feet that 10 this
years ordinary operating expenses Wa added
au unusually largo sum tneariy fOO3D OK
penlci iu ho purchase ~ new locomotives and
D-ra, nu fron bridge over the Matiaponi rlFcr,
and o-ho. improve rnants Of n permanent ctarac-
trr. Two ac.l .lIenfs also added about $1,000 to
ile burdens q ibis years expenses. The net
pr'it- 0i .n. 5car however. hafe loon suilcIeut
to pay Me usual per cent dividend and Leave q
ghe u0.omrnt o. trims nccessitatod by the
lars.l y-inorca.c1 freight traffic Of your com
pRuy, which has Trecssariy been carried
through the city " ki'tm1ni over the connection
ra.lrcal. bias been complained ~ as ON annoy
anre Z. those residing u-ar the line ~ the road
aui the Citf Council OF Richmond has passed an
ordinance prohibiting the uae of stoam- engines
up9l the connection road after tie gh Of April
1-Jj.
Nh1o donyinr tho Legal power Of tho city 20
enforce 1urh rs Prohibition, your loard, never
fhcioss, desiring not only 20 avoid annoying,
nut t0 so trcir utmost tO Accommodate the resi-
dClts of fhe city recommend the passage or "a
p solution bv the f;ockhoders AUTHORIZING the
Hoarl ~ Director ;o construct or participate in