The Daily times. [volume] (Richmond, Va.) 1886-1889, 1889-11-21

Net profit........ ..................si57. So IS
THREE PR CENT. Dividend.
During the period reported on the c0r-
Dany suffered heavily from causes whrl
are 81 forth IN the General superintendent
report. nevertheless the h0iri nave decided
that the result 81 The years operations
Justify the payment II dividend u thrte
PER cent. for the six months ending 3VlI
September. $50. payable January ]. lss3.
HE BELT LINE
The resolution adopted by the sicckh0id-
er- AZ their meeting November y. lo>,. a1-
thOrlzinz the construction ora branch rOg1.
not exceeding ten miles la length, ia coa-
meet the Richmond. fredericksburg and 70
tonac and Richmond and PrfeF-buF- RaA-
roads from point north of Richmond % O
uoiut south thereof. 30 IA. to enable the com
nany % comply % The greatest extent posi-
ble with the requirements 90 toe tity CoHn-
ell has been acted upon. and the board
fixed upon the route SIS accoTdanft
With the resolution and Tie charter
Of the company. determining % cc1-
sfruct branch line about four
miles OF less tn length from Branchs cross
/ ing. one and eigbt-tenin- mile, north Of tis
corporate limit. of Richmond on iis ma 2
! line. % a point on James river. there io
r. and Z. Railroad extending from q poil
on the latter road sou b of Mancbe>feF faHd
which branch j, Jess than six miles lon-
and tho board proceeded fo have action
taken for the acquisition hy purchase nr
condemnation of tie necessary laHd. $50
with ihe construction ~ the road. until f.
/ force Of Injunction granted by ine Circuit
I Court 81 Hrnrie0. upon The application ~
certain land owners. tine WORK oi grading
was suspended. and now stands suspended
awaiting tine decision ol the supreme tolI
OF Appeals ~ Virginia.
One of these injunction eases. in whiru
7 the Injunction Was dissolved. has been
taken Ia the Court of Appeals. and She hoa0i
is informed by the eomplnt's counsel fHat
ina enc oi tine condemnation eases. I'm wai b
iudgmen. was enforcfhy the County Court
Of iienFic0 in fhe company favor. an 9r-
peal has been taken % The Circuit Court uI
iienrir0. and that Court bias expressed 90
opinion adverse f0 the COMPANY. and will
in a few DAYS. most probably enter iud F.
ment reversing the lower court and d.-mi---
iu- thc condemnation proceedings. ana fIft
from this decision flc company Wili appe It.
and 1t g. expected that tne Two cascs wli
Doe heard in the Court NJ APPEALS at ru
early day and q fnai decision reached.
This delay coming no this seas m Will
render it impossible t0 accomplish thar
which was intended by ArrIi 0f next year.
which S. fhe limit HXed hy fne Council iNr
the u-e " steam On The present lime THROUGH
Richmond. N~. however fl- company bus
eginced every disposition 90 satisfy fIe de-
mand, upon IN. without shrinking from tnc
heavy outlay involved. the Council viii Do
asked for and wiil DO d0uDt readily dissent
70. an extension of the time liked Dy them
as a limit. without question ms % ile legal
rights involved.
signed by order Of the board.
u. Il. ROBINSON. JR..
President pro rem.
INTERMEDIARY REPORT.
The SUPERINTENDENT. in bis report. after
stating that tle gro-, revenue was $685.
91j.Ui-a nef gain over the preceding year
If S41.225.tD. states. For the same time the
expenses were sll5%1.g9 against S372-
Ol-.it OF the preceding year-an increase 0i
S442-S.Ss: hut they cover large eXpengl-
lures Tor iron bridges. masonry steel rails.
twO locomotive. and above aii the cost oi
repairs made necessary Dr The Great storm.
.of this extraordinary year. THE total ll--
to tine company hy these food, may bs put
~ not less than s1l.Wn.
in accordance wItl instructions given by
yOu. fhera ha- been much Ur0gre,, in tlf
substitution NJ iron Tor wooden Brio -e4, and
al heavier rails for those weighing only tHl
pound per yard. If which at tll- writing
1872 miles remain in the main track. Tore
place them viii require about 300 tons.
Potomac Run. Rfpplhann0ek. Hz.i
Run. Na--apOnax. and Aaffnpoui brlg s.-
ar- nOW iron. ChickaAominy /, 0u the egf
0 completion. and contracts have been
made f0r iron structure af North Anna and
Little River. When these ere finished
south Anna and Accabeek VIII be tue Onif
TRUSS bridges in wood. The first can -er,e
e year or two longer; The latter much
longer time.
The equipment is in good order.
The construction NO "a branch line from q
point near the fourth mi'e-po-t Oh jane.
river. was undertaken during fle spr.nl.
and considerable amount AZ work had
been done. when 90 was for fle most Dlrf
suspended hy 1000 Injunction Issued bf fIe|
Circuit Court Oi Ilenrc0 county. The conc
paHy IS now awaiting fhe result 0f the legal
proceedings concerning DO.
alne essential need Of Use facilities 10 Hil
ahord is more severely irlf. a- fhe through
freight business increase BOO volume.
IL Ouli remains t0 say ilIt the strain urlr
The empl0yes. due o. the befon-mcnti0u.a
disasters. has been borne without complaint.
and with great credit 90 themselves.
There have been DO train accident. 0l any
consequence.
Respectfully submitted.
EFT. j.. MYERS.
General superintendent.
The rolling stock Of the company ai
present consists OF passenger cHrS. sixteen. /
postal cars. two; baggage and express aF-. +
seven: cabo0.e and camp cars. twelve: b0x
cars, lorty-seten; Hats. Ily-dse; coal-hoa- f
per. one; material cars, eighteen: loco /
motives, twentl-three.
TREASURES REPoRT
From the treasurer's report 70 arnears f
that the capital stock. including dividend +
Obligation. j. S2,7J,,0j0, aud The funded .
debt StlD,"sl.-3.
statement OF current operating expenses /
Of Richmond, frfae rictsJ urg UHd Pc +
t0moe RQHrO0f '0mp0nv f1r the nine /
mouths ending Sth JHne, i,s9.
Of way and st1c-
ture .......... ........... : S0.SS6 =
Maintenance Of equipment 49,. 5l.-3J 20
conducting transportation. 1912 -
General expenses .............. -gz. A.
Sao7.C5s q
j. B. WINSTON. Treasurer.
ISSUE OF BONDS AID A DOUBLE TRACK.
The board Of directors. through tbe presi-
ient pro icm.. submitted the following.
S9.5UO0l0 or BONDS.
The board recommends the adoption II
he following resolution by the stockhold.
RS:
ReS0lred by the stockholders al the Rich.
nond. Fredericksburg and Potomac Rail-
way Company In general meeting a>sela-
lied; That the president and Board If d.
ectors be and they are hereby authorized
ma empowered % prepare and issue 40 their
discretion. for the purpose OF providing Tor
al the obligations and Indebtedness II this .
company and for the purchase of additional
for double-tracking the road. for