The morning news. [volume] (Savannah, Ga.) 1887-1900, 1889-12-10
INMAN'S TERMINAL LINES
THEIR CAPITALIZATION PUT AT
$4,000 PER MILE.

The Average Capitalization of AL tha
Other Roads OF the Southeast S4I,<
600 Per Mile-A Statement that the
Average Capitalization of the Lines
East OF the Ohio is S12o.ooo Per
Mile.
New YoRK, Dec. o-Ths annual
meeting of the Richmond Tsr-
minal Company will occur to-
morrow. John H. Inman will he reelected
president without opposition. By special
favor the NEWS correspondent was given
peep tonight at the annual report, which,
will be given to the stockholders tod
morrow. 1t is an exhaustive review Of ali
the properties embraced In the Terminal
system and is said 20 be the most Intelligent
presentation Of the company's affairs that
has ever been prepared. 1t treats elabo-s
rately of the Terminals future policy ami
clearly explains the purposes Of the mans
agement, which cannot be construed as
other than conservative and conducive to-
the material development of tho whole
country tributary TO the various lines Of
the system.
FLArTERrNG FIGURES.
Tho figures Of the report are not only,
fiattering as to the earnings of the LAST
year, but are very instructive In the exhibif
lhey make OF the comparative capitaliza-s
tion OF railroad properties in different sec-s
tions of tho country. 1t is shown that the1
average capitalization of all tho roads OF
the southeast is about $41 900 per milaj
The Terminal lines arc the best properties
o. the southeast systems, and yet the totar
capitalization Of the Terminal properties is
only about s37, 600 per mile.
BASIS OF THE ESTIMATE.
That is to say. all the capital stock and
bonds of the various roads controlled bys
the Terminal, added TO the capital stock aniE
bonds of the Terminal company itself. onIN
makes an average indebtedness of s37,03T
per mile on tho roads embraced in the Tor
minal system. This is positively startline1
when contrasted with the average captali-l
zatiop OF lines east Of the Ohio river, which,
is shown to be over $4,000 per mile. The1
tabulated statement OF earnings is also vary1
| tiattering.
THE GROSS EARNINGS.
The gross earnings for the year of all tlnal
roads controlled by the Terminal have BEEN
over 500 O00, 900 and the operating expenssaN
about $lS,000,000. The net earnings oyerJ
operating expenses and all fixed charges Of
the various lines and likewise OF thrx
Terminal company itself, gives a neg
surplus to the Terminal Of over $500, ,OO0A
which is, according to its present mariyein
price, over per cent. ~ the common scocsd
Of tho Terminal Company.
| THE RICHMOND AND pAEvILLE ELEcTroN4
At the approaching arnual election OF
the Richmond and Danville, which occural
next week, George s. Scott, the pressnt in~
cumbent. will decline reelection to the
| presidency, and John II. Inman will suc1
| coed him. Mr.. Scott urges the pressure OF
| private business and desire for rest from
all official responsibilities as the reason fors
| his withdrawal. He Is a man of ample for4
tune and entirely independent Of rewards
| from close application to routine business.I
| His administration OF the Danviile has beer3
energetic, intelligent and productive Of exl
| celient results TO the property under his
management. Wise economy has BEEN
practiced and the earnings largely in
| creased. MIR. Inman's election to the
presidency Is considered thoroughlY
| appropriate Aside from his acz
knowledged fitness for the place, ID.
is argued as good policy by those best i'm
formed, in view OF the fact that as the Termi@
| nal company now owns all of 5he Danvilla
stock. one man should be president of boths
| corporations.
HARVEY KENNEDY's DEATH.
Wall street lost conspicuous and widelv-
esteemed leader to-day Ia the sudden death
| OF Harvey Kennedy. He was in perfect
health yesterday, and died at the Unions
| League Club this morning. He was one of
| the Oldest members of the stock exchanged
and always powerful factor on tho buln
| side Of the market. He was several Jirnesl
millionaire, and his heart was as big az
his purse. There was genuine gloom cast.
over the street to-day by his death, and KING
words about him were on the lips of every-
body.