Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1892-01-01
OUR RAILROADS.
A FINE SHOWING FOR THE ROADS
CENTRINe HERE.
Work and Earnings on the c. & o.. the n
3 W., the A. G. l., the r.. +. y r,
and tho Danviiie System.

8uu tno DnuvttiS - stSnss
prepared for the Dispatch by Mr. John SHELTON
Williams, editor of the "Manual OF southern
Inyestments,' issued annually by Jonn L.
williams q Son, Bankers
The year 1891 was an of year in railroad
construction in the United States in con-
sequence of the financial troubles OF 1890.
Virginia has been no exception to this rule.
No new railroads of consequence have
been undertaken during this period. aud
though several small roads and extensions
TO existing lines have been pushed to COM
pleton. including the Warm Springs VAL
lev branch, twenty-five miles. the Craig
Valley branch from Bessemer to Craig
City. twenty-six and a half miles. by the
Chesapeake and Ohio Railway Company
aud the Roanoke Southern railroad, Mar
tinsviile. Va, to Roanoke, about sixty
miles. The latter road also extends into
North Carolina and is projected TO run
still further south. possibly to a connec-
tion with the South-Bend railroad, Colum-
bia, s. o., to Savannah, GA.
The extension of the North Carolina
division of the Norfolk and Western rail
road to junction at the North Carolina
boundary line with the Cape Fear and
Yadkin-Valley is not yet finished although
the work Is under way. The Norfolk and
Western Railroad Company has also made
preliminary arrangements for the extern
sion of its road from Front Royal, Va, to
Washington city. Authority was granted
e. the Board of Directors at the last an
nual meeting of the stockholders to build
tlis connection to Washington, and also
road direct TO Richmond. and to acquire
f.-opar farp,fpol footltfiao for hOth
The development of business in the last
few years ON our important trunk lines,
such as the Chesapeake and Ohio, the
Norfolk and Western and tho Atlantic
Coast Line, has been enormous, as Will be
more particularly shown by the individual
reports Of the different companies which
follow:
Chesapeake and Ohio Railway.
We can find no better example OF the
benefcent effects of active. honest, and
able management assisted by capital in re-
" ing aud bringing up TO high state OF
efficiency and profit bankrupt and dilapi-
dated railroad than is seen in the case OF
tho Chesapeake and Ohio railway.
From q condition of impoverishment
aud general Generalization the Chesa-
pcake and Ohio has now come to the from:
and has taken its place among the great
trunk lines of the country. It's credit has
been completely restored and the physical
condition of its property brought up 10 Q
high condition. The road has developed q
business which few years since it's most
sanguine friends would hardly have dared
to predict for it. Newport News, its sea.
board terminus, is growing rapidly in I'M
portance as shipping port, and already
several regular steamship lines have beer
established from Newport News to Lon
don, Liverpool, Glasgow, and Havre. II
| his last annual report President ingalls,
stated that the Chesapeake aud Ohio Com
pany already had more business than could
| be accommodated by the various steam
ship lines then plying between Newport
News and northern ports.
The developments of the company
| business can be seen from the following
| 6guress;
Fiscal year ending June 80
1889 1890 1891
Nfleage 777 923 934
fags ....-s5, 900 s7,1el,e4e ss,1a7,111
ings ...... 1.O25,ooo 1,7o0,s2s 2,2O0.oea
Including trscknge, Orange to Washington
| 50 miles.
The bonded debt il abou. $4,000. 900
| fxed charges, $4,000, 900. The gross earn
| ings for the year ending December 81
| 1871, were spproximaiely$5. 900. an in
| crease of about Sl.00),000 over the pre-
vious year. The present length of roa'
| operated, 1,079 miles
| The company has been making YER
| large expenditures for several wears pas
| for permanent improvements and better
| u mt, which have been charged regularl'
IA operating expenses. The road is nov
| "a such improved condition that expense
| - ais purpcss ahould hereafter diminisl
| ana the management predict that div
| dends on the company's first and secon'
| preferred stock are possibilities of the no
remote future.
| The company's coal business is increas
| ing decidedly. and through favorable con
| tracts which it has made 1t is now gettin
| suitable coal for its own use at the re
! markably low price Of 60 cents per ton Q
2,2i0 pounds, delivered on its cars.
| The rolling stock of this company in
cludes 252 locomotives. ISL passenger-cars
and about II, 600 freight-cars.
The business for the months Of October
November, and December last was abou
| flouble that for the corresponding month
| of the year previous.
| Norfolk and Western Railroad.
Virginia owes more to the Norfolk an
| Western railroad for the development 4
| her natural resources tnan To any otne
| three railroads in the State combined
| The policy of this company from the tim
| of its reorganization has been liberal an
progressive. The company has PERSISTENT
endeayored in every way to create for il
self business aud traffic by building up til
country tributary to Its road, by the dt
yelopment of mines. and the institution {
I manufactures, and by aiding as far as POI
sible the agricultural interests which
subserves.
For the last five years the policy of th
company has been particularly progre:
siye. 1t has reached ont into new terri
tory, opened new fields. and develope
business, both through and local, to sue
an extent that it is now recognized as on
of the important trunk lines of the cour
try. Upon the completion OF the Ohio
River division (Which is now actively III
der way) and the North Carolina division
the Norfolk and Western will constitute
part of probably the shortest through lin
between Chicago and the South Atlanti
States, as well as furnishing in connectio
with the Louisville and Nashville shor
direct through line from the Southwe:
to the Atlantic seaboard at Norfolk.
The following figures in regard to th
operation of the road are OF interest
| Year
| anttpQ GROSS Net