New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1888-04-08
financial.
IN THE PREFERRED AND COM
MON STOCKHOLDERS
OF THE
RICHMOND And WEST POINT
TERMINAL RAILWAY
WAREHOUSE COMPANY.

n .srd signed by three gentlemen OF wnom Du' Vs.
stockholder Of record OF your company n"' as,
s...d in the newspapers OF this city for some "ee 49,
-a..,s the policy and management OF your o0np i,
.,d asking stockholders 10 unite In Gaining an,ss.
...uns for tho purpose Of securing change VI A
nent l., ,,o..mher last by
unanimous vote OF stockholders, ana se'''s -, -
- r,erest Of your property and securities sSAS 'VOi
s,refu attention the following stoemen' ,o.,.r q,
1a The resignation OF Presiceht ou"s 1000
take eject on the 18th OF this mon'n "o sr,a -
=, ia o,ss Of prexdens which We hope WIN % hio W
90 the stockholders and in their interests
ns,ead Of placing the property under ao'o'se so"uo
Cd OF the three gentlemen senins '"e 80 -,
r.e,or OF and smother 10 Interested 10 anu p'oun'
..s,e.s with the Norfolk and Western Railroad com
,,oh has psysistently opposed your company In de-
- ,ny benefit from the tranic Of the East tennessee
nr,o.a IN which you acquired majority OF the h's'
,.,r.d stock at expenditure Of six ana one-hai MI
~ A dollars The third was member OF the Iefi-
~, po.rd OF 1887 and IS a Director OF the OeorSn
Company .,. -. 49,, ... ,h,s oar
We understand that majority OF the names mus iaI
,onosd By the parties soliciting proxies Tor DeeoEs
snd President Of this company are gentlemen VINO are
Iii tnowp to be the owners OF majority OF the STOCK
~ GEORGIA COMPANY which owns railroads whose
ssness and interests all points OF our system IN
,unetton with antagonisc TO the business ana IN
srsss Of this company diversion Of trbc or exercise
n influence favorable TO the Georgia company ~ u'o
,,rs,ous competitive points would work ineslcuiabie In
a., N vour nroDerty The invasion Of the territory
u,operly belonging your company by the OeoFsa N'
trsl Railroad an invasion which this company mas uoN
,tlisted In any way has already cost your company
n.uy thousand dollars especially In the case OF the 20
,nmb, and Greenyille Road H. on The other hand the
urepondesnce Of the Georgia Companys interest ID ts
company should result In sale to ana purchase W S
company Of the Georga Company stock owned by tnee
ssptepen II would necessnte the issue Of many millions
Of your common stock some kind OF obligation dAHs
n,eoedsnce OF that stock the eject Of which upon the
value Of your property fully competent TO judge
3D. The present Board OF Directors did not come into
power until the 2lst of December last One OF It's hrst
acts was by reduction Of salaries and consolidation OF
oacss In the Terminal and Danve Companies, TO effect
saving Of $50 600 per snnum- which, judging by the
hqe increase in gross and net returns docs not ap
pear to have at all impaired their efficiency.
As an example Of this call attention to the opera
tons Of the Richmond and Danvlle Railroad Company and
Of the East Tennessee, Virginia and Georgia Railway
Company.
The earnings and expenses OF the Richmond and Dan
Vile proper February and tbs five months Of the cur
sspt nscai year are as follows;
s:s::.
81 sstSias. g 1850 10 S5,$l7 S5
E s On n S@d Of 5 taxes g
e ns d %anis % ssSs5a % %
S sS5i5s ii5aias
Net months I1OJ,6iO n
Interest on all bouds rentals and taxes G44,s24 80
Net surlus s4o4, s25 81
Being at the rate Of 90 $40 per
The eaminls and expenses the East Tennessee, Wiz
gns and Georgia Railway Company for the months
Of the present year. July l. 1857, TO January 81,
1885 are follows:
Seven months. 1858. 1887. Increase
Passenger, mail aud - -. -. .oo - "a, ~, y.
eS5S,SSl 90 sos o9 Vo StUi - -
Freight 2281, OLA 90 l. 797, 233 80 4S3,s10 -
Miscellaneous Z7,Oy1 90 SI,aS9 ~ .0'CCoooo ,S
Gross earnings bO5g 90 900 % eaoo'0pgI
0pera ting expenses Ytspop ~ lsl2 100 ~ ooSgS1
Net earnings $40 20 Lloo'AV0 90 o''7t %
In reference 10 the passage Of dividends by the Rich
ucnd and Dsnve and the East Tennessee, Virginia aud
Georgia companies, the board states:
~ A. 70 the Richmond aDd Ddnville Railroad
The net earnings OF thf Richmond aud DanYnle
bb sS "a 1s NJ Wers 1854. 7sG 81
Less expended equipment and betterments 1892 "a
From this balance dividend was paid Of per ~.
A.n.n