Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1890-12-10
JAY GOULD AND son,
10Th or THEM ELECTED DIRECTORS
INrHE TERMINAL COMPANY.
r,e poy George Also On the Danvilie
noard-Tho Stockh olders of both
Roads Meet.

The stockholders OF the Richmond and
west Point Terminal Railway and Ware
i,use Company held their annaal meeting
io the Richmond aud Danvillo Offices in
this citv ~ 1890 O'clock yesterday. Those
,r,scnt were Vico-President Il. VI. Logan,
v,ior James IT, DOoloy, Edward. Lauter-
b,ck. Esq, Of New York; Mr.. John p.
rranch. Mr.. b. B. Munford. andMr. Robert
prooke. secretary. Mr.. John p. Branch
presided.
BEPREsENTED ny PROXIES.
sfossrs. James r. Dooley, u. B. Munford,
ana Robert Brooke we're appointed a COM
,r-tfce on proxies and reported as follows
srsrss a. preferred stock Represented by
rroyy. ............. ..........-.. 300
,.,troferred STOCK represented 10 person, 81. los
Tr9rolerrci stock represented by proxy, +G2,9jO
4osgos
..-essary for a quorum .........,......... s54os5
Representation ia oTcsSs OF a quorum... iSi, g5i
General +. NJ. Logan. vicc-president Of
tc company, and Edward lauterback,
General counsel, held proxies representing
$1,000 shares Of stock.
Tq,YsrpHsT AND DIRECTORS.
The following ticket was voted for by
Hem and the same was unanimously
elected John II. lnmaD. president. and
h L
q ~ McGhee. H. h. Plant, Patrick Cal
l9un. Simon WOrmscr, John II. Hall, John
q Calhoun, John A. Rutherford, John q.
Moro. Samuel Thomas, James Swami.
JarG0uld. George j. Gould. Sidney Dillon.
ram :. Hewitt. II. T.. Wilson, j. G.
Aancn.
The last six are new directors.
COMPLIMENT TO wB. INafAE.
In nominating Mr.. Inman for reelection
O. president General Logan said that the
r.pOrt submitted by the President and dl-
y-,tors 90 the meeting was III itself the
most eloquent c0mmeudation of Mr. In
mans fitness for the position and gratlfy-
lr. exhibit OF what he had accomplished
for the company during his incumbency Of
fio Office Tho Terminal Company had
during the past wear made many valuable
connections, secured new lines. cxtinguish-
ed all 40, floating indebtedness and closed
the fiscal year with large sum 70 its
credit in bank. and q londer rather tnan
borrower of money.
PRESIDENTS REPORT.
The report Of the president (Nr. Inman(
was read by Mr.. Lauterbacb. 10 showed
thoposiuDu ui the company 20 be stronger
than at any previous pyrlod o. lts history;
fhqti Be- entirely free from all floating in
deltrdues. aud has % cash surplus IN bank
of ~lZ1. 162 81. beside moneys loaned on
demand amounting 20 ~ji3,Ob.5O. There
are free aud uuplcdged securities in ITS
treasury of the market value Of S3,O5O,0OO:
The rrUss earnings of All the Terminal
properties Dur ngt the year chow an increase
over the preceding year # S5,7Gi1l2.
During the year the Terminal Company
lq. acquired % controlling interest in the
Alabama Great Southern railroad and the
lease of tho Cincinnati southern railroad
nnd the control of the Louisville Southern
railroad.
The report refers also TO the important
alliance with the Missouri Pacific Railway
system on the Mississippi river at Memphis
lad Arkansas City.
Attention is called 10 the fact that no in
crease of the capital stock of the company
Dl hereafter hc made except by direction
o' the stockholders themselves.
ri1r OUTLOOK NEVER BEIoHrR.
Large expenditures have been made for
impravemcnts aud the outlook for all the
IMPORTANT southern railroad lines was
never moro favorable than at present,
ouiuy iu great part 10 the steady develop
mont Of the resources of the country
through which ITS line travels. and the
material increased prosperity of theseveral
States.
Thr Treasurer's report confirms the Pre-
1euts statement and estimates the net
.rrlmo for tho coming year over and above
charges and dividends on preferred stock
a 08OU0.
The average increase OF gross earnings OF
ra Richmond and Banvlle for the last
i..el year ending June 30th was S246 per
mile, ageregatine sl,56s, 500; over tho last
tennessee, Virginia and Georgia railway,
$3.50 per mile, aggregating @2,S0i, 9S2; over
ha Central Railroad and Banking Com
lauy Of Georgia. Si4S per mile, aggre-
earng - .39O. $50 making total increase of
gross earnings for those systems OF S5,76i,-
d..
Richmond and Danville.
The stockholders meeting Of the Rich
m.nd and Danville Railroad Company was
Bella subsequent TO the Terminal Com
Nr. John b. Branch presided and the
same committee on proxies was appointed.
lLDy reported:
Stock represented IN persOn......................
si.-A represented by proxy.
''as'tSo
Necessary ior quorum OOl
OIUCgEs FOR THE YEAR.
The stock, nearly the whole of which is
h..i h tle Terminal Company, was voted
i- N.ssr- LOGAN and Lauterback for the
following ticket John III. lnman, presl-
dent aud directors-Samuol Thomas,
Calvin S. Bricc. John q. Moore, John q.
Glces John If. Hail, John $. Barbour,
Samuel NJ luman. George J. Gould. James
%. tnce W. O.. Oakman.
lhe only new men in this directory are
Nesrs Gould and Pace, the latter being
Transferred from the Terminal board.
TIE YEAR's BUSINESS.
Ilc report # the president (Mr. Inman)
called attontion 10 The fact Of large III
crease m the gross earnings and also In the
net earnings tho increase in the former
teug over one and IA half millions and IN
tAe latter over four hundred thousand dol
lr--and TO unusual prosperity prevailing
iu the mineral agricultural, and manutac-
turing industries throughout that portion
Di he south traversed by the Richmond
aad Danyille system.
SOME ISIFRRsrING FACTS
TIE report shows the total mileage oPe-
rated during the year 10 have been 3.oZS.
miles, divided as follows Roads operated
Gs the Richmond and Danville proper, 75l
miles; controlled by leases the bonds OF
which are guaranteed by endorsement,
xil; operating leases winch embrace piss
Western North Carolina, aud Others,
1851: controlled by ownership of stock
uut operated as separate companies,
llS.7: Baltimore. Chesapeake and Rich
m0nd Steamboat Company, 200. The mule
age added during the year was i26 miles,
and the average, including steamboat
line. was s. .263. The increase over the ave-
ra.o of the preceding year was l0 miles.
FINANCIAL EXHIBIT
The entire system for the year shows:
Increase In gross earnings of......-sl, ,36s,79o -
Increase IN expenses Of...,........-. i,iH,57 Us
Increase In net earnings of.-.-.- s4l4,s32 -
Ths gross earnings Of the Richmond and
Dlutille were S5 ,600, ,7i2.7S. and operating
Expenses S3lil. .45L43. leaving the net earn
tags -, ,4S9, ,26l.S0.
The earnings Of the Virginia Midland
were S2274, ,SS3.72 and expenses Si,5O9,-
S1s.63, while the Georgia Pacific only earn
et u ,762. .9Ss. -. and was operated at cost
Of 81 ,547. 1912.
CONDITION IMPROVED. -e>"t