The times. [volume] (Richmond, Va.) 1890-1903, 1895-02-08
TT WILL HELP THE ROAD.
THAT IS POPULAR OPINION CON
CERyIyG ". & ". RECEIvERSHIP.
Railroad Men Seem to Think That IL IL all
for the Best-rbsre Was struggle
for Solvency By the Road.

The opinion exists among railroad men
that the placing of the Norfoik anu
Western railroad In the hands OF re-
ceivers is TO the advantage OF the road.
1t stops interest claims. checks suits ara
attachments, and enables the railroad 10
pay its operating expenses promptly
The employees know that they VIII get
their money and so do those who sell
the railroad its supplies.
The road will now be operated under
the supervision Of the court, ana IL Is
understood that provision viii at once
be made for funds with which to pay
off the floating debt and the amounts que
to employees.
The order Of Judge Golf appointing the
receivers provides that they shall take
charge OF the Norfolk and Western RAN
road Company and all its property OF
every kind. including leased lines. II
also authorizes them to continue 10 oper-
ate the road to the best advantage ana
TO keep the property in good repair to
employ all needful help, and 10 MAKE
traffic arrangements with other roads;
TO pay taxes and insurance. 10 pay en-
ployes. officials and other persons having
debts for wages, services, materials ana
supplies already and to become due ana
unpaid growing out Of the operation OF
the road: TO prosecute ana DEFEND al
existing actions by or against the com
pany. and 10 adjust and settle all such
suits 20 the best advantage.
Length OF LINES.
The total length Of all lines owned and
leased by the Norfolk and Western
Company is 1866 miles. This includes
Bristol. Tenn. ~ miles; branch from
Petersburg TO city Point, Va, 10 miles,
from Glade Spring to Saltville, Va. l.
miles: Maryland and Washington
Division, with branches. 81 miles; ono
River Line, from Radford. Va" TO
Columbus. o., with branches. 49,
miles: North Carolina Division, from
Cripple Creek junction to Iron Fridge
Va. with branches 6s mics; Clinch
Valley Division. from Graham 10 Norton
Va. with branches, III; the LynchburS
and Durham Road, IL miles Roanoke
and Southern. with branches. ~ mics
and miles OF terminal road at ColuIn-
bus, O.
srRUGG' roE soI.yENcY.
The Philadelphia. Record SAYS:
The Norfolk and Western railroad is
controlled from this city, where Presl-
dent Kimball and several OF the general
officers and directors 1--we, ana us Sc
cuflties are principally held mere and
abroad. For that reason the gallant Of
forts of the company 10 breast the UNI
favorable business condition OF the past
two years have been watched with much
interest. and. in view of the recent IA
vOrable reports in earnings. it was hope1
that the company would be able TO pun
through and maintain its solvcncy. For
a long time. however. the credit OF the
company has been steadily waning. and
to this fact. which has prevented II from
securing funds at favorable rates Is
doubtless due the present trouble.
The financial difficulties OF the COM
pany date largely from 1892. when its
Ohio River extension was completed, en-
failing large costs to the company for
construction and subsequent heavy in
terest charges, without any corresponding
increase I'm revenue.
Since October, 1892, the company has
paid no dividends. and its net earnings
have steadily decreased.
The fixed charges are over E2,NdpO
annually. The last issue Of securities
made by the company was in 1888, when
s.. 900 900 of the lO0-year mortgage bonds
and 100000 preferred stocks were dis
posed OF.