The times. [volume] (Richmond, Va.) 1890-1903, 1890-11-18
STOCKHOLDERS MEETING.
RAILROAD COMPANY OFFICIALS
ELECTED.

Statements Made Showing the Condition
OF sho Richmond and Petersburg Rail
way--iseporss of and Annual Election Of
onicers.
The stockholders Of the Petersburg Rail
road Company met yesterday, Mr.. y. H.
Nunford In the chair. Nh. IL. Walters, The
interpretations made a report showing that
the gross receipts for the year were 500.
S5e.OI; disbursements, SiiS,N9.iL Tic
bonded debt was increased $4,000. Mr.
Walters stated that IL was with great re-
prot he announced the resignation Of Colo
mel John b. Palmer from the presidency %.
the company. His physicians ordered him
positively 20 retire from ali business cares.
and he has followed their advice and is now
in Furopc. where be expects to spend scNc'
lal years. ,,.. ,....
In addition 20 ordinary expenditures dur
ing the coming year the general MANAGER re-
comments The expenditure OF S'o,uW lot new
freight equipment as necessary ana ,le
PostoHice Department nave called Tor lho
construction Of siXty-lCot postal cars Tor
the through mail service.
MIR. Warren G.. Elliott was elected presi-
dent In place of Colonel John Is rainier.
MIR. Elliott was formerly Of Norfolk; ne
now resides at Wilmington, and is the pres
ident Of the Wilmington aud Weldon Isl.
road. Mr.. II. Walters, yice-presldent. I'VE
rcctors. Mcssrs. ". +. Waltors, n. Naliers,
B. D. Newcomber, Fred. Il. scott, ana b''
ID. ". Lassiicr.
RICHMOND AND PETERSBURG.
Al II O'Clock a meeting OF The stock
81 .IA| Do
railroad Company was held. Mr. Barton
uaxou was elected chairman. MAJOR
Fred. r. scott the chairman, made the l"i-
lowing report:
I'M l,ehelf Of the Board a. Directors ] sub
,,if ~ foiio,gine statement of the business
81 the company for thc fiscal year thuI'
4ofh lime 1890. Gross receipts from lini ~
pOrtstiOu. s325, jO4.3s; operating tNp.n'' -
e22I.4Ri.0 net receipts. elOO.ox%4F ir-
ceInfs nom Investments si1,lGO Os, tOlal net
revenue. silT .0e9l2
Interest ON the debt ana the usual l'tl
cent. dividend bays been paid.
sixteen thousand dollars of The per cen I.
bonds oil 1870 Doing thc balance Of the mo- l.
gaQcl have been sold al % premium OF t'.-
O2G 81. ,. ,...,,. oo.,-
Melted. tho expenditures on That account D. j.
10 November 1st being sl0lOD
In conformity with the authority grant q
by the stockholders 40 the last annual me-
dated mortgage for one million ooNus, tIIs
10 include and provide for the payment OF li'
outstanding mortgage oi iNi', u"vuutii.h p.
500 600 The new bonds are dated ISL Api ID
1890. bear A. per cent. per aunum interest D..
md are 20 rum foT fift} yours. Ihtcc huhnIt"
thousand dollars have hetn SOFA sihte '.'
close Of the fiscal year no So ana the pi'cet 5
ns Gtr ns needed applied to the cost OF Inc
lanes River branch leaving % balance on
hand which VIII probably Dee sufhcicht lot u
needed bsttcrmcufs Tor the current Ne'i'
The reports at Che officers OF Inc company
submitted herewith VIII show the business OBJ
the year IA detail.
MIR. II. Walters, the general mangcr, i'm
his report said:
'rhe steady increase i'm business. as has
been recognized for some time had outgiDwu
the terminal facilities go both ends on inc
road. 10 IS most dihcult ia llchm9nd 20 90 To-
cure any additional yard room, nOiWitnslnhd-
iue the tact that some of the little we nave
must Doc sacrificed this scar 10y an extension
OF the freight warehouse. ON account OF ihlA
il will hc necessary Co extend the develop
nent IN the yard boz Manchester. and hope
= lOu fl will be- decided tO remove the SHOPS
from their present location and erect more
suitable ones. together with lound-holsr.
which Will permit as 10 icngthen Inc Nhl0 an
very slight expense. 10 was deemed adNls-
able during ihc past year to purchase hN Ilh-
able piece uf properly iu lhc Upper lait Ni
Richmond. ON DrOQd street. This property
will be- reOuired as delivery yard 30 very
early dnft. The connection track for through
freight viii bO com leted soon. and VIII give
great relief o. the Richmond and Manchester
yards. besides saving at least Two hours u
the transfer OF through business Norm ANA
South.
1t is hoped That the changes above mon
toned. and fne property scored. VIII take
care Of the business for the next nNe years
"Duriug the past gear we became lhciiiNt p,
of Car service Association for the state ol
Nirciuin, which lns given most excellent re-
suits
III most gratifying that the business OBJ
tho road has been satisfactory during iht
closing yeaI. nud tuat officers and cmplo. es
have all met their duties chccrlully'
The old officers were reelected. MI tr-
rem q. Elliott was elected director POO
place Of Colonel John Is. Palmer