Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1888-03-20

With a viow IN incroa ing the ~


With a Wow 70 increasing the west-houn1 ton
mage oui securing pro np pt AMI rciahl' trans
p0rt1tOn FOR ihe l1rg" export uHsinc-a Scctinc
Newport News, erra'9n mrnts Wero Waic al toe
beginning Of tur year for direct line of steam
ship. urtF,en tcwport Nor- and Liverpool. n
Yc. T-orf.1 that. ibc similar erprises, this
lice Would Tor q lime ha run at loss. Int that
10 the near iutmo t would become selt-susiain-
Ing
The lcesce's proportion Of The loss thcrcfrom
during the year was sl21.st9ij, nut the amount
o! th'- loss was diminishing m ntlly as The Inc
became bcttor known. IN this connection 10
SHOULD be bOruo in mind that a considerable
amount both of rnst- acl wo~t- Do. md business
has been secured D. The railroad which could rot
otherwise have been Obtained. and 10 i= mani
feStly % trc infcrcs' of tle road 10 maiutnin q
oiic"t limo of steamships from Newport Nows.
win possibly -ingl" exception, irc steam-hI Is
run have uot boon found 90 hc of tho character
best a4Hptrd for the service, but q suitable
change "a that respect can doubtless h' ar
ranged.
Fora number Of years your prcsi1cn, and de
rc.tnr- havc lab.r'i earnestly 20 icrICct tie
western connections s0 greatly needed hy this
rCal to make it % Grs-ciass luf from thc ONO
g"i Mississippi Valley" 90 The Atlantic scnboari.
At'0r en'C4att:in, many GifirI.tcs ana long
C"'av-, tho completion of tlc principal link
giving n direct connection with the western aud
northwestern -y-fcm- Of railroads convcrciug pt
Cincinnati ,a ub0.' o. De- secured.
Ile -ren. cost ol ;hc road which largely OK
cor'rl thr original estimate peDdu-c Of thc low
rrlGt- observed go i'S GOV -truoiion and fne SUBJ
s.outial 80 ara ars Of fh" work lci Go rc0IgliI1-
tol 1-,t Since that ic0rgerila..n iLa &c.
r-I'rWouf Of U.n husinc~- 81 tlr road has hrcn
"tcft.i I- tl3 want Cf eu!'nt'" western ccn-
nHrHal aII mo resulting heavy charges on
though hI-ilces. Ili. i,it tlf snau narc.u
'i pr1nt ia Jorge portion oi The company
business. Itc Dc. line iu lie rates 81 freight
since tiat rcorr1ui1a ioC has been much greater
,hai Wa5 autr. rn.oi. Ire extent Of tne decline
taorcin caa te best understood oy tho following
r -. q fts .r g..
lsi, ami 1851:
r Tons carried per
lS'1.: .t'lt.I % 2.t3 J} 61t.0~1sl .t,j
1.... l.1.,!5J - tS-o5 It2.H,,lf2 .gH
iu.'r. $4,000 g. i,.teS t9.,l-lU-l
Dec. .--...-. '.--..-. ..--...- so
~. 1871 3Q.55 a91u 4G3
II win appear from thc above statement that
tle la1 recr.Ted $3.50 per ton on the freight
ca ri.I u 10 IS, whereas oa the frcigh. Carried in
l>,, ll received only tl45 pc. ton. decline Of
Lcgrly Que haf .n less than ten Years.
I' n.-o cdIeo- are due the financial emhar-
r1 ncut- uudsr which thec0mpauv has lab0rei
anl Nn.h have ncce-sita,cl . roadjustucut of
as Dol Ie1teI-ess. tAe hOlders OF upW3r1s OF
tHo thuI- Of tho Series B" a0nds n-ceptrd the
propl ion made iu 1856 20 reduce tho rate of il-
tcrc.' ou said bonds ID per cont per au-
ru1'. ..r- it was horod hat This pian ouid ue car
rico out mirOlitg, however rriusei % accept
b. ON the @,.h ol October. lo>,, General Vii
liems e.. Wicsham was appointed receiver OF the
coupapy'- property by the courts Of Virginia
and No,i virginia.
For farther ds,lil relating 70 the financial con-
tit'.n - Sic company yoI are leicrrci cd the PC
comyauyiug tables. and for s--u us pertain %
flr rAJ. .i'.l operation ana condition OF the road
60 u.g report ~ Williams G. Mickham, Second
Nice-P4 President, aud other tables in The annual
report ot tlr Newport News and Mi-sl-sppi Val
ley Company.
The BoarI 4. indebted TO its officers AMI en-