The Roanoke times. [volume] (Roanoke, Va.) 1890-1895, 1893-04-20

eiouoPoitaViou uurluR 1917 \iHCluoiHB
530,ss3 tons used by the company was
3,6G6.735 tons. an increase of 5s4.o62
tons as compared with the previous
year. The shipments OF iron orc were
G1S,757 tons, an Increase Of 79,41S tons,
or Is per cent, as compared with 1891.
The shipments of pig iron were 417,611
tons, an increase of 1874 OIL tons, or AZ
per cent, as com pared with 1891.
FINANCIAL.
Authority was given last year for the
issue Of 100000 shares of preferred
stock, 10000 shares OF which were
placed at SAT per share. There were
also sold during the year: SO. 100000
100 year mortgage bonds. $50, 900 Mary
land and Washington division bonds,
S54 200 equipment mortgage bonds and
5000, 000 per cent. Gold Car Trust cer-
tificates. J he proceeds Of these sales
were applied toward the payment OF the
following expenditures for capital &C.
counts:
Bettermen,s and additions to the ''''
property, including the iron
bridges. engine house, 473l miles
OF sidings, real estate, etc 7i9,70e 30
Terminal facilities. ................ 529,T7t 62
Branches to CO and orc mincs...... 237,993 81
Lynchburg belt line. 49,. . ....... 1C0,G65 IS
second track q 81 miles).... 80. 1896 43
Bettcrments to the Maryland and
Washington division .............. 43i1I5 40
| Rolling stock Observation-Disclosures. S537I5 20
Totai.. ......................S5, 13i ,275 16
Car trust obligations, maturing in z
| years, to the amount of 1854, 829. SO,
were issued early in the year for new
rolling stock, costing Sl.O35, s1123, in
addition to which the Equipment
Mortgage of 1892" which originally
contemplated an issue of IS 900, O00
bonds was modified by limiting tie issue
to 100000. representing rolling stock
costing $1,000, $3.50 previously acquired
and paid for by eliminating the sinking
fund provision and changing the date Of
maturity of the bonds. The 5000, 600 OF
bonds were then deposited in trust with
tho Girard Life Insurance, Annuity and
Trust Company of Philadelphia as
car trust certificates were issued against
them and sold.
Notwithstanding the general business
depression, several new enterprises
were established upon the line during
the past year, the most important of
which is tho Mathi' son Alkali Works
at Saltville, which, when completed and
in operation, promises to DO one Of the
most cxtt nsive and important upon the
| line.
The com plction Of tho Ohio extension
| Is ny lar inc most important event In
the history of tho company. The ex-
tension of the line to the Ohio river,
which was foreshadowod in the first
annual report. has from the first been
regarded as necessary to enable the
compiny to fully carry out its policy OF
developing it's local resources. It's
operation will greatly facilitate the
growth of traffic upon The line and will
from year to year add largely to it's
revenues. Whilst its influence upon
the increase of local traffic cannot be
overestimated, it is also certain that it
VIII bring to the company large and
continued accessions of through traffic.
There is as yet no material improve
ment in the iron trade, but in many
respects general business conditions are
more favorable to increase of traffic and
revenue than for some time past. The
management does not feel justified in
making predictions as to the immediate
future, yet it is confident that with a
revival of business activity. and even a
slight Improvement in the iron trade,
the traffic and revenue will be satisfac
| tory.