New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1889-11-19
B. AND 0. PROSPEROUS.
THE NAGEMENT OF THE ROAD INDoRSED
BY A HEAVY VOTE.
PRESIDENT Mayors FIRST YEAR ATTENDED
WITH FINANCIAL sUcCEss-FEATUREs
OF THE ANNUAL REPoRT-CoNDI-
fBY TELEGRAPH TO THE TkIBUSE.1

TIoN OF THE ROAD.
ley TELEGRAPH TO THE TKrBUsE.I
Baltimore Md Nov. 18.-Prcsdent Mayer, OF tho
Baltimore and Ohio Railroad Company looked inc
happiost railroad official in the country To-Day whon
the stockholders at their annual meeting. indorsed his
policy and congratulated him upon the great financial
attending his first years management oi inc
road. Reverdy Johnson presided at the stockholders
meeting. Tho sixty-thIrd annual report so pleased
the stockholders that after unanimously adopting It,
several Of them expressed the opinion that dividends
would be resumed before long The report shows that
for the fiscal year ending September 30. loeO' the
earnings s21 1903 ,oo1 90. an increase OF s94o
30 80 as compared with the previous fiscal year
The operating expenses for the last year were
BIAS s44 81 Increase OF S6102s3 OF over those
Of 1888. The total net available income was
81, 400 1867 SO. Payments made as ionows :
Dividends on first and second per cent preierrci
stock 1900 OOO principal car trust bonds. S250,OOO
the city of Baltimore for the purchase OF Its interest
In the Pisburg and Conncllsville Railroad, $4OoOo
cash appropriations to- sinking funds, $oo0e' w :
Somerset and Cambria Railroad traffic bonds S2o'ooo'
total $672 4s7 o. The net surplus for the year was
S510,316 H. against S124,431 81 at the last annual
meeting, increase Of 1904, 1856 30.
The report Of the general manager shows that the
tonnage of the year the largest in the history OF the
company and that 1216l $50 tons Of freight were
carried The expenditures for constructing and better
ments amounted to 81 500 ,lO1 03 which have been
charged to capital account. The larger part OK inc
sum, 1881 425 3d. spont on the lines east oil Ba
more, and embraced rights of way and real estate
the Philadelphia division and tho schuylklll RIVER
East side Railroad for the construction of the bparro"
Point Branch to the steel works at Secton, Nd, iof
completing the double track on the Philadelphia d.
vlsion and for docks and wharves. The expenditures
the Pittsburg division $237 036 "A, and were
principally for the passenger station at Pitts
burg On the main stem $345,3o2 81 were eApehued
mainly for constructing second track the MetIopo-
tan branch, completing certain branch lines, and
for floating equipment for the harbor Of NewtYoik
For the transOho division S65o46 81 were eX-
pended The sum S607, 617 80 for depreciation OF
equipment, including engines and condemned and
destroyed charged TO profit and loss account
During the last year arrangement was made with
the Finance Company Of Pennsylvania for a per
trust loan OF 81 100000. OF this sum $661,
$50 "a has been expended for forty engines and
338 passage, freight and postal cars leaving $780,
1G4 06 Of this loan to be expended for acquiring
similar equipment
The receipts of the relief department $31 Ola 90
and the disbursements S341, 73S co. balance hand,
S3O175 20. From the date Of the beginning of the
association TO September 80, 1889, the disbursements
were S2,417,255 So. Tho disbursements on account
Of the pension roll S24 100 OF for the year. and FOR
the whole period $93,753 80.
The physical condition OF the entire system and its
equipment Is reported as having steadily improved
during the year. The road Is much in need Of adj
dltlonal rolling stock, particularly facilities for the
carrying OF the freight business rapidly in
creasng. To improve this and also to enlarge the
terminal facilities at important points the report says
that large OUTLAWS will be necessary during the present
year.
One Of the most important features of the report
is the recommending Of the Endorsement of 100000 OF
bOpd of he a.
River Railroad Company, line recently constructed
through the West Virginia coal fields lying between
the main line at Fairmon and the ParHersDuIs qiach
at Clarksbuig The stockholders authorized the IN
dorsemcnt. The MonOngahela River road connects
with the numerous lines of Senator Camdens com
pany into the great coke fields which he Is now de
veOping. The b. and o., by indols sing the AOnoI
cahela road bonds, into close contract with
the Camden Company for the hauling OF all The COKE
to Chicago, Cleveland. and other lake ports ana the
seaboard The Camden Company owns the most cA-
tensive coke fields in West Virginia, having only
few days ago acquired $4,000 of coal and timber
lands in Clay and adjoining counties; and Formerly
belonging to the Capert0n estate. Inc cOnsuucuOn
OF branch roads In al directions Is Delhg idpI.uS
pushed forward, and all Of these connect win inc
MonOngahela road and the b. and y. -. ,,o
The following directors were elected James cIodI'
jr William T. Burns. Decatur ii. Miller: William H.
Biackford Aubrey Pcarre. George De d; Keim Wesley
F. Frlck. George A. Won Llngen, George c. jenkins
The only changes made In tho directory were mos
caused by the withdrawal OF W. e. Atknson IN FAVOR
OF his partner George A. Won Lngen, who Tor many
years IN III his absence at the last election, repre-
scented the interests OF his firm ana lamliy III lne
hoard and the election Of George c. jenkins, VINO
in the place OF c. f. Mayer. the president OF the com
many The meeting attended by an uhusuaiS
largo number Of stockholders and their reIresenoI-
lives and the vote cast IN Endorsement Oh ,nt pro- ~
emf administration of the company amouhten az.
"a O23 shares, which is the largest ever cast III "'0
history OF the company.