Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1893-04-24
THE ANNUAL REPORT
OF THE NORFOLK AND WESTERN FOL
1892.
The Company Now Operating 1857 Niles Of Track,
and Running SSS Engines and $4,000
CMs-General Railroad Notes.

The twelfth annual statement OF the
Norfolk and Western Railroad Com
pany, for the year 1892, has been made
public, ana shows the affairs OF the
Company to be in very prosperous
condition. At the close OF the year the
Company was operating 1919 miles OF
main track, 236 miles of leased lines,
40 miles Of sidings and 379 miles OF
second track, upon which they were
using 3sS locomotives, 247 passenger
coaches and 14,753 freight and other
cars. In 1892, 80 locomotives. II pas
senger coaches and 2,414 freight cars
were added TO the equipment, at cost
of 81, 3,0ll.
The revenue account showed:
Gross earnings So 90, SSl 90
Operating expenses, including taxes 7,OSl'o'2 20
Proportion OF expenses to earn
ings, II per cent.
Net ....;."s<,s=l,-Vs W
Other income-interest, dividends, -,
eic........... '.'..'-''''' l7fV0V -
Total income .................. 50 O65.sl5 o5
r,ss 90, n
Add special dividend fund............. IS6'|tO %
Grand total S2O2,075 05
Deduct interest chsrges;-
ON funded debt. ........t9 353.ooo IS
On car trust obliga'
Rentals, Lynchburg
and Durham Railroad
Company. .....'..' 9''"o' 80
Total fixed ges............... 241o,'O %
Netincome for the year 80. .....:s 126,3lS 6s
Surplus income December 32st. 1871 l,4oo's'o %
Total .............. 50, S3,e9O CO
Dividends were paid
April 20 1892, y. per
cent on 100000 OF pre-.
ferred stock...........S ogU,UVO W
October 2sth, 1892 lpeF
cent on 400 90 shares
preferred stock ........S $4,000 % 40, -
- l03l0O %
Surplus December Slst. 1891 .......sl 154,2 800 e.
There was used for the purchase OF
bonds under the sinking fund
clause of equipment mortgage. l3S,4oo 81
Surplus December Slst, iS92...... 81 0l3SSl &c
The total number OF passengers car
ried during the year was 2,232, 9O9, an
increase over 1891 of 345, 1897. The
freight traffic was 6,624, 724 tons, an in
crease of s26,7S6 tons. OF the total
freight, 3,666,733 was coal and coke.
The shipments OF iron ores were 6ls,-
757 tons.
The cost OF the Ohio extension is
given as 81, O36, 7s5 OF.
Respecting the decrease In net earn
ings in 1892, the report says:
"Whilst the net earnings OF your
company since its organization have
grown from Sl,1O4,0 56 in 1881, to
So, 17s, PCS in 1891, and to S2,92I, 209 In
1892, they, for the first time In eight
years, decreased as compared with the
previous year. 1t Is not to be expected
that the earnings Of railroad will in
crease year after year without Interrupt
ton; like other branches Of trade, the
transportation business suffers during
periods of depression. Your system
has been extended rapidly, more rapidly
than would have been the case had your
management been able to select its own
time to acquire or extend lines necessary
to protect its territory. Your system Is
now practically completed, and no
further large expenditures are anticipa-
ted or will be required, and the capital
expenditures will be confined TO such
moderate annual expenditures for
equipment, additional side tracks,
double tracking, and terminal facilities
as the annually increasing business will
necessitate, and from which ample re-
turns may be expected"