The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1889-03-29
THE PBVIKY RAILROAD.
The Annual Meeting Of the
Stockholders Yesterday,
REPORTS OF THE OFFICERS.
Work Done by tho Road In 1883 rs
Compared with tho Record In
%1SS7-Tlp Financial End oft,
Effects CT the Floods.

The annual meeting OF the stockhol'
ders OF the Pittsburgh, Wheeling& Ken
lucky Railroad Company, was held at
the Office Of the company, in this city,
yesterday afternoon. There were S,0Ol
shares OF stock represented, out OF atotal
OF 5000, being the largest representation
ever had, at any meeting Of the com.
pany, The meeting vas presided over
by Mr., p, B, Dobbins, president OF the
Board OF County Commissioners, who
voted the COunty's. stock, and Mr.. ]. NJ.
Belleville, secretary OF the company,
acted as secretary Of the meeting. The
Pennsylvania Compauy's interest in the
company was represented by Secretary
IS. b, LiggetL Of that company. The
election Of directors resulted in the
selection Of the following named gentle
men: Hon. O. d. Hubbard, Capt. John
Mcclure, Mr.. Henry X. List, Mr.. Joseph
Speidel, and Messrs. William Thaw and
Thomas D. Messlcr, OF Pittsburgh.
The annual report OF President G, D.
Hubbard, showing the operations Of the
road under tho lease to the Pittsburgh,
Cincinnati & st. Louis Company for the
year ending December 81, 1888, and the
financial condition at TINT date, was read.
Following Is a synopsis and extracts
taken from tho same: The gross earn
inpS OF the road MS rCpOrLel bY the lessee
were $2O4,437 40. The operating ex.
penses were Sis, 737 II; hire OF equip.
ment, $l5,6Sj O3; paid out on sundry
freight accounts, 1901 81; total, Sl35,-
225 IS, leaving SG0,2l2 2S US the net earn.
ings Tor the year. Tothis Is TO be added
the amount collected from the Ohio
River road for It's proportion OF taxes for
the years 1884, 1886, lSSGand 1887 on the
Benwood extension used jointly with
this company, $?,342 80, and also the
balance Of 5000 II due by the lessee
December 81, 1887, on account ofthe net
earnings, thereby making the total
amount due by the lessee December 81,
1888, $0s,573 72. During the year pay
ments amounting TO S72,600 were made
on this account, leaving a balance OF
$26,073 72 due by the lessee December
81, 1888, on account OF net earnings.
The amount due lessee for better.
meats December 81, 1887, OF S7,637 q
was paid in January, 1888, and an add.
tional amount Of $3.50 20, also for bet
terments, was paid during the year.
The amount OF net income during the
year was S7l,65l u, from which pay
ments TO the amount Of $30,S45 were
made, leaving q surplus for the year,
after paying all fixed charges, Of S40,-
700 O., or 0 4.l0 per cent on the capital
stock. Included in the payments re.
ferred to was $4,000 interest on $780,
900 first mortgage Z per cent bondsi
$1,000 to the sinking fund.- per cent
on bonds Issued; $l2,4S0, interest on
$2OS, 900 consolidated mortgage Q per
cent bonds, and S2,OlS to the sinking
fund, being ! per cent on outstanding
bonds,
The TreasuFer's account showed re.
ceipts from all sources OF $72,0ll and dis.
burSements amounting 10 S7l,007 on,
leaving a balance for the year oil 1913 81,
to which Is added the balance in the
treasury December 81, 1SS7,of 81 1850 20,
making a total balance in the hands Of
the Treasurer December 81, 1888, OF 81.
204 IA.
Tho earnings and expenses OF the road
for the year under the different heads OF
account compared with those Of 1887
were as follows: Earnings-Freight,
$l45, 200 "A, q decrease Of s., OPP 40, or l.31
per cent. Passengers, $5l, 1881 81, an in.
crease Of $0222O, or .S3pGr cent. Express,
$2,07l 81, an increase Of 1884 90, or 2.3S
per cent. Mails, Sl,7S5 80, same as year
before. Rent OF railway, Sl,050, same
rs year before, Other rents $50, a de.
crease Of Sl4, or 1850 per cent. Miscel.
laneous, $40, a decrease Of $00l 90, or
6l.6S per cont. Total earnings, $2O4,-
437 40, a decrease Of Sl.4S4 23, or ~
per cent oveI the year 1887.
Expenses-ConduCtlDg transportation,
$5l,5lS25 %, an increase Of $0,4Ol 10, or14,4l
per cent. Motive power, $20,S62 81, ade.
crease OF $9l5 u, or 400 per cent. Main.
%tenanCe ofway S3S,620 A, an increase Of
1854 O0, or 1l43 pnr cent, General OK.
penses, 1882 81, d decrease Of S503 10, or
l.04 per cent. Hire Of equipment, Sl5,.
pS0 90, n decrease Of S2,90S IS, or ll.SO per
cent. Paid on freight accounts, SSOl 81,
q decrease Of $,13O 90, or 68.6l per cent.
Total expenses $l35, 1895 is, an increase
Of sOlO1 Is, or 44O per cent over the
year 1887.
The number Of tons OF freight carried
In 1888 was sol, 20i tons carried ono mile,
i2,82O,274 number OF passengers carried,
ilgSSlj passengers carried one mile,
There was expended for botterments
$l,Sl7 90, a decrease Of $i76O2 W com.
pared with tho expenditures In 1887.
The expenditures ID 1888 were for add.
tto1al sldlhgs aud improvements al the
freight station III this Clty.
Ihere was d decrease Of tonnage In
lSss AS connated with 1857 Of 62,IB9
tons, or DOS Pet cent, and the decrease OF
REVENUES ttOtl The same Of $2,O25 10, or
,ol per cent, Tho greatest decrease In
lonnARo was Id Iron orc, l2,06I tons,
inc greatest Increase In Tonnage was In
lutnbOt, 4O,AOS tons, and Ia pig and
bloom Iron, 20,lO3 tons.
The change Of basis OF division OF ton.
mage, "a applied 10 local and foreign ton.
mage, made during the year 1855, 10 CON.