Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1889-05-24
NEssRs. THOMAS P. BRANCH & co.
ARE AUTHORIZED TO RECEIVE SUBSCRlP-
TIONS ~ RICHMOND.

Fx'racts Of letter from Mr. A. j. Reuh, treasu-
ror Of Richmond aud West Point Terminal Rail-
way AMI Warehouse Company, dated Nay IS,
ls,l. 70 Mossrs. Maitland, Phelps 81 Co. and
hessler g Co.:
This company through tho ownership Of stocks
and oon6suo 90. controls the following three
great systems vi southern railroads.&c.:
Miles,.
Richmond aud Dsrvil!s. ...3,o63
including steamboat Line
from West FONT, Va, 70
Baumor3, hd-equiya-
lent railroad mileage..... 200 o,ao3 miles.
East Tennessee. Virginia
and Georgia systcm....... 1913
Goor-ia Contra system. 269
intending Savannah AMI
New YORK steamship
L,ro and savannah and
Boston Steamship Line
equivalent railroad nile
ege.... NEUTRALITY-SUSPICIOUS.. ~ 2aOJ
TotaL.................. 7,li&8
These sys.ems Of railroads extend from WASH
ingiou, D. C.. through all Of tho southern States
east Of tho Mississippi nver, including Tonnes
SEQ and kentucky, touching al Of the southern
scaports, excepting one and al OF the principal
cities end towns 10 these southern states.
Tho benefits TO accrue from tho unihcatlon OF
these three systems arc: Maintenance Of rates,
economy, extended connections and improved
facilities. which will doubtless result IN a largo
Increase u revenue aud decrease IN operating
expenses.
Tho statements II the various systems Of roads
controlled by the Richmond and West Point Ter
ruinal Warehouse Company, including branches
and auxiliary lines, for their respective FISCAL
years ending IN ISIS, we're:
cross EamiIgs. set Earnings. Fixed Charges.
l2s2lo.s57 flO.592i7 S.56395s
showing earnings over fixed charges
.f2.E@s%3J
Out Of Which the dividends paid Were... l,54j,6SS
Leaving surplus over all Fixed charges
dividends, &C., of...................... 1881
The capitalization por mile Of these properties,
exclusive Of "a, securities owned and cou-
rouoI by This company is as follows:
stock Bonds
per mile. per mile.
Richmond and Danvillo rail
road ACKNOWLEDGEMENTS. b,''O 4i'-Io
Fa,s Tennessee, YirginiaauI
Georgia ACKNOWLEDGEMENTS 2l,U
Georgia tontraI.............. G,J.l 0.s6i
Average. ...............Il,sJ l1,js+
Entiro systom, including the
securities Of tho Richmond
and West Point Terminal
Railway and Warehouse
Company outstanding $500 1880
Referring TO the issue OF 100000 OF tho COM
pauys per cont consolidated nrst mortgage
collateral gold trust bonds, recently sold to
syndicate represented by your good selves. l
would here siSts that they constitute a 1rst lien
on certain stocks an bonds tss particularly
enumerated in the mortgage, having market
value OF s7,4fGO0O. out for purpose Of control arc
valued at S7.53O.3)l These bonds are also SO
cond lien on certain stocks and bonds likewise
des cribed in this mortgage. on which tho COM
panys S. 800 900 per cent collateral trust bends
aro first lien), with a market value Of tl2 $50
and which are valued on tho books Of the COM
pany for purposes OF control at tl4,JiL8OO.
The estimated revenue OF this company for
1879 condsidcring the Income OF the railroads
controlled by II 70 be not more than last year,
will DO 8. 0J6jy5.
Ia addition to tho revenue above stated, In
terest may be e1pected on the following bonds
owned by tho company:
Si,32S.OJO Western North Caro-
lima consolidated mortgage
per cent bonds. .................F 7Y,500
S3iACC0 North Eastern Railroad
Company gold mortgage 6per
cent bonds. Observation-Disclosures. 1890
- $500