Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1888-01-30
WEST VIRGINIA CENTRAL.
Annual Meeting OF Stockholders and Re
port of President Henry G. Davis.
From the Sunday Register.

port of President Henry G. Davis.
From the Sunday Register.
The annual meeting Of stockholders and
directors of the West Virginia Central
Railway was held in Baltimore Thursday.
The report of the President, Mr.. Henry G.
Davis, showed that the gross earning
transportation for 1887 were SIS, $50 81;
gross expenditures transportation, $11s,-
719 "a; net earnings (miningh $51,sS2 %;
increase in inventories personal prop
erty), $3.50 90; total net earnings for
1887, s127, 93S 60; interest on bonded
debt, S6s, $50; total net earnings, $751;
37S &c. After the completion Of the
Piedmont & Cumberland Railway in
August last, connecting the West yir-
GINA Central with the Pennsylvania
Railroad system and the Chesapeake and
Ohio Canal, the net earnings Of the West
Virginia more that doubled, and in four
months amounted to enough to pay the
fixed charges for the year. During the
year two locomotives, one passenger car,
100 hopper gondolas (6l, 900 capacity, 60
fat-bottom gondolas $50, 600 capacity, and
six cars were purchased al q cost OF 500,
$40. Fifty additional hopper gondolas
and 80 ~fat-bottoms are now being de-
livered. There are no car trusts, and all
the rolling stock belongs to the COM
pauy. The company owns, in fee, 2,244
acres of coal and iron ore lands, and miner
al rights on 5,407 acres, 1851 acres
in all, on which the bonds are a mortgage,
as well as on the road and equipment. The
line Of the completed road extends from
Piedmont to Davis, sixty miles. The ex-
tension now building, known as the
"Cheat Extension" runs from Thomas to
the main Cheat river. about thirteen miles,
The Piedmont and Cumberland railway,
which is owned by some of the principal
stockholders and friends of the West Nir'
ginia Central, is operated by the latter
road. The West Virginia Central Relief
Fund reported total collections, 1887,
81, $3.50 So; expended for death aud acct
dental benefits, $3.50. SO; balance in bank,
So sos, 80; membership, 400 persons.
The total shipments of coal over the road
in 1887 were AS, S2l tons: the average an
nual shipments for the years 1882 to 1887,
both inclusive, were 373, S24 tons. The
coke industry on the line OF the road is
growing, some 20 ovens being now in ope'
ration aud 100 more in contemplation.
Attention was called TO the cost o! rail-
roads in Maryland and West Virginia pei
mile, taking into consideration their bonded
and other Indebtedness, exclusive OF stock.
The cost of the West Virginia Central was
$18, 1873 per mile; the average cost Of the
other reads was SOL ,041 per mile.
The extension of the road some 81 miles
from Thomas, in the direction of Leads
vile, in Randolph county, W. Va, was or
dered. The resident was authorized Ia
contract for and purchase such additional
rolling stock as the interests of the COM
pany may require.
Hon. II. G. Davis was unanimously re-
elected President, Hon. y. b. Elkins Vice
President, and Z. w. s. Moore Secretary
and Treasurer, and the following directors
were elected: II G.. Davis, S. B. Elkins,
w. II. BIrnum, VIM. Pinkuey Wbyte. J.
n. Camden, John A. HambletOu, ThGmas
B Davis, John s. Gilman, VIM. ". Tss.
lor and VIA. RI. German, the two latter in
the place of Mr.. VIM. Keyser ard Hon. A.
p. German, who resigned IN account OF
their being elected as directors Of the Bal
timore and Ohio railroad,