The Roanoke times. [volume] (Roanoke, Va.) 1890-1895, 1893-04-20
NOT so BAD A YEAR AFTER ALL.
Advance Figures From the N. &c
w. Annual Report.
Heavy Gross Receipts, But Heavier Gross
Expenses In Proportlon-strong Need
For More Equipment.

run auVaHCo SneeIS vi tn6 UWellIn
annual report OF the board Of directors
OF tho Norfolk and Western Railroad
Company for the year 1902, THE TIMES
Is enabled to lay before it's readers the
following interesting facts:
At the beginning of 1892 tho company
operated $500 miles of road, AZ 60 OF
second track and 331.s4 of sidings.
No new extensions or improvements
were undertaken during the year, but
several important works, necessary in
anticipation Of the completion of the
Ohio Extension, and undertaken during
the previous year, were completed.
Those include 81 miles ofsecond track
between Norfolk and Lambert Point, q nd
at the latter point merchandise pier
with 2story warehouse 705 feet long and
140 feet wide, equipped with all modern
appliances for the economical handling
OF freight, on Is stall engine house and
repair shops.
Sixteen trestles upon the New river
division were filled in or replaced with
iron structures, and a 35-stall engine
house was completed at Bluefield.
There was also completed Is O3 miles Of
short branches to ore and coal mines,
GA miles of second track and 47.31
miles OF siding.
On the Maryland and Washington
division, eight wooden trestles were
filed in or replaced with iron structures,
and some additional real estate was
acquired at Hagerstown.
The branch line at Lynch burg, l. 80
miles in length, connecting the Lynch.
burg and Durham railroad with the
n ain line, was completed and put into
operation October %, 1892.
The Ohio Extension, work upon
which was commenced in March, 1890,
was so far completed November l, 1892,
as to permit OF opening thu line for
traffic upon that date, although the
ballasting, station buildings, and some
minor details OF construction were not
completed. Had the imme diate results
to the company been alone considered
or the exceptional severity of the winter
anticipated, the opening of the Ohio
Extension would have been postponed
until the spring, when the work OF con-
struction would have been entirely COM
/ pleted.
ROLLING STOCK.
Tho company h ad in eorvioo at tho bo-
ginning of the year $40 locomotives, I76
passenger coaches and 1899 fraipht
sAO O0hOA Soiot anu tuC tQQtLlUub uaQO
during the year consisted OF 80 locomo.
tives, IL passenger coaches and 2,414
freight and other cars. AT the close OF
the year the rolling stock consisted of
3Ss locomotives, 247 passenger coaches
and IA, 753 freight and other cars.
These figures taken in comparison
with the milsage of the road shows
falling off in equipment as to locomo-
tives and freight cars.
The carrying capacity of the freight
cars shows steady average increase.
The average NUN Der Of tons of paying
freight transported in each car has in.
creased from 0 rs tons In 1889 to 1871
tons in 1892.
REVENUE
GROSS earnings. .................. 50 g52 ISL GO
Operating expenses including taxes. 7,Usi ,67a &C.
Proportion OF expenses to earnings,
Il per cent
Net earnings. Observation-Disclosures. 81 1921, 200 OF
Other income interest, dividends, &c 14i,6C6 02
.. Total ,ncome.... ............... S3,tG5, sl5 O5
To which there was added the re-
mainder OF the special dividend
time OF the acquisition of the Shen
andoah Va ley railroa 1 by as
ses ment or S66 on each general
mortgage bond OF that Company 136, a6) 90
Total. .:..;.................. s3,2C2 075 05
I.
On Cur trust obligations 7I7S5u
Rentals, Lynchburg
and Durham Railroad
Company. 47,3.T.T7
Total fixed charges. ............. 2475761 80
Net income for the year. .. S72G.3is 60
Surpms income December 81, ISL 4e6,9I6 %
Total So 1s3, 300 90
Dividends were paid
April % S92 * per
cent. on 10000 OF
preferred stock. $4,000 %
October %, 1892, ! per
cent. on 100000 shares
preferred stock. 10000 90
- 100000 90
Surplus December 81. 1892. Sl,153,29) 62
There was used for the purchase OF
bonds under the sinking fund
clause o. equipment mortgage -. 139,i5S IS
Surplus December 81, 1892 s1.Oi3 s3l ~
AS compared with 1891 gross earnings
increased S764, s39.6S or per cent.
Operating expenses, including taxes,
increased Sl,O21. 9O5.43 or II per cent.
net earnings deer eased S257, O65. rs or
per cent. OF the increase in gross
earnings S374,772 was due to the 217
miles OF increased mileage. The gross
earnings of the main line showed a
decided increase, but the smaller earn
ings OF the newer portions of the line
held down the average.
The results Of operating the lines for
series of years are shown by the fol.
lowing comparative statement:
Gloss Operating Net
1ssS $s a1SS s g s1s Sd g $lISIs ls
ISL. Is5fSS3 o. as sS9'9 wy 90 90 i21 g