Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1894-01-01

corporations and indfViduaiS II P"t
sio0et.2c3. Earnings from operations OF
the Virginia Midland railroad for the last
fiscal year. s207e,475; net income over
operating expenses. s770,4oS; interest RENTS
taxes. &c, tsO2 1871; deficit, S.ISs.
Gross earnings OF the Richmond, YORK
River and Chesapeake for last fiscal year.
$l69.26i: net earnings. SLAB; interest
taxes. and per cent. DIVIDENDS, syo'7s''
deficit from operations Of year, SS4,OH.
This company is leased to the Richmond
and Danvile Railroad Company when
guarantees interest on bonds and per
cent. dividends on stock.
NORFOLK AND WESTERN.
The Norfolk and Western Railroad
Company is now operating 1856 miles OF
road. all OF which Is owned by IT, wan
the exception OF the Lynchburg and Dur
ham railway, 1l5 miles. and the itoahoke
Southern railway. I2i miles, which roahs
are operated by the lessee company under
perpetual leases, being the same mileage
operated at the beginning OF the year
1898. No extensions or additions 10 the
system are contemplated during the COM
ing year.
The gross earnings Of the company Tor
the ten months ending November ], 1873
amounted to IS. 1914 an increase over the
corresponding period In 1892 or &Zo'VS''
The net earnings for the same time were
s.. 4O7, 1872 "a decrease as compared WIN
the previous year Of $59,&l.
The rolling stock Of the company, ac-
cordine to the last annual report, includes
Sss locomotives, 2i7 passenger coaches' anu
1913 freight and other cars.
The coal and coke transported by thls
company last year is reported TO be con-
sldernbly greater than In 1872 when
& Gee 1913 tons were hauled, against total
OF Abs tons in the year 1882. Some APP
DrehensiOn is felt as TO the effect on the
Norfolk and Western and the Chesapeake
and Ohio companies Of the Withdrawn
of the tariff on COAL but one OF the pest
posted firms on the coal trade In the couii-
try is authority for the statement tha'
I'm their opinion the abolition of the ddty
on foreign coal would not result In any
large importation from the provinces anu
that while Il might result In some reuuC-
ton 10 the consumer from the present
prices Of American coal, even thls reduc-
tlon is likely TO be only slight. Inc proo-
ability is that just as the business OF our
railroad has greatly increased ana earn
ings have grown with the reduction ol
the freight rate per ton per mhe JUS
90 with cheaper coal its demand and con-
.,,,,on,iop viii increase and manufacture
ing interests generally receive fresh I'M
petus. 800 o,rto
CHESAPEAKE AND OHIO
Tho Cbesaneake and Ohio Railway Com
many operated during the last fiscal year
a total mileage Of IN miles. Its gross
earnings were SO 1896. SO; its net earnings
g. 2Ol 90. Its interest charges &c,
amounted TO S27SO,2S9. leaving a surplus
for the wear. over all charges, OF $iZ5'Oo'
Tho ratio OF operating expenses 10 gross
earnings for the year was 90 per cent
against u per cent. for the two previous
wears The average load haulep %
frelght-trains has increased from Zo9 10
oS2 ions. while the rate per ton per nliie
has decreased from 5.36 mills to oil mills
The average earnings per mile run Dy
frei0bt-trains increased from A.3S 10 $i'H'
The average receipt per passenger lei
mills declined from 2H to l@ cents me
output of coal and coke along the iliie
Of the road for the same year was S,Uy',o
ga tons; an increase over 1877 oI oi'''''
tons - .Ao
The total cost Of the property or inc
oo,,,,,,nv IN June 90. 1893. Is put at Sl22.-
ia IA The cost Of fuel To the Chesa-
neake and Ohio Company is reported az
The nbenOmenally low price or 81 cents
per net ton. ,..,,. hoe
The Chesapeake and Ohio Company mas
.,,,t hear detrimental in the establish
ment. through the agency OF an ENG
ush company the majority OF whose
stock II owns. Of splendid new me Oh
freight steamers between Newport news
and Ijyerpool The steamers IN sei
vice January, 1894, are the hapid-
hammock, Shenandoah, and haha"hd'
each of G.7S tons burden, besides CON
= 3 L.
tanning n capacity for $50 head oil cattle,
and the AppomattoX, Chickahomihy' anu
Greenbrier, 5000 tons each, haNlhs tooIi
for 2S0 head of cattle each III auul'ioi''
The line has already developed Wy
large business, which Is expected 10 CON
etantIv increase. by this route ship
ners from the far West are enabled TO
get through ILLS OF lading for shipments
10 Liverpool Of -four. cotton, ana other
nroducts OF the Northwest ana Soulh-
west. The savings over other companies
in terminal charges Is considerable. Inc
business of this steamship me II AZ
ready exercising a very perceptible eHect
on the earnings Of the Chesapeake ana
Ohio. .,.r,
RICHMOND. FREDERICKSBURG AND
POTOMAC.
The gross earnings Of this company Tor
the wear ending July !. 1893. were SiS5.S9S.
the largest in the company's history
and an Increase over the previous year
OF ss7140. The net earnings were S2sO'9t6
net surplus over and above interest ana
fixed charges and per cent dividends
on stock and dividend obligations, Shw9.
The ton mileage Of this road for 1888
was 3i693,1li. against 3.412.IS Tor the
fiscal year 1850. During the same period
freight rates have declined from .O22l to
OlO3 per ton. Passenger rates have de-
clined from .034l to .0235 The number or
passengers carried one mile has grown
from 5,Ss5,535 in 1880 TO H,lSl,iS for the
past year. The company had on hand at
the close OF the fiscal year nearly 100000
cash assets, besides over $4,000 invested
In various high grade securities
The capital stock and dividend obliga-
tons of this company, amounting TO
s., 1860, pay per cent dividend, and are
exempt from all taxation.
RICHMOND AND PETERSBURG.
The gross earnings for the year ending
July !, 1893, reached high-water mark.
being $i0l ,435 an increase over 1882 Of
$31, 1888. Net earnings for the same period.
$l52. l40; interest on bonds and per cent.
dividends on stock. slO6,6OO; leaving a net
surplus for the year OF $l5.5IO. IONS Of
freight transported one mile during this
period. 1885 against 2.O47.436 in 1879.
PETERSBURG RAILROAD.
The earnings OF the Petersburg railroad
petersburg, Va, to Weldon, ~ c., sixty
niles for the year ending July l. 1885,
were the largest ever reported aggre-
eating 1855, 42S. an increase over the pre-
vlous year OF 1915 Net earnings for
1888, s2O9,0S4. Surplus over and above all
fixed charges. interest ard per cent.
dividends on entire capital stock, sSS, 456
The record OF the Petersburg Railroad
Company during the great business de-
preston through which we have lust
passed has been phenomenal. Both the
gross and net earnings of the company
for the month OF September, 1898, in spite
of the panic, were the largest OF any
September In the companys history. The
wonderful development of business over
the Atlantic CoaSt-Llne is striklngly ex-
hibited In the case OF the Petersburg
Railroad Company which road in the
fiscal year 1898 transported IS %, 7S5 tons
of freight one mile against 1851 tons
in 1879.
The Petersburg railroad has close
traffic contract with the Seaboard Air
Line system, so that it is now to a certain
extent the northern rail outlet for this
important system, as we'll as for the
Atlantic Coast-Line system. OF which II
is a most important link.
GRAIN, COTTON. AND PRODUCE.