Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1896-03-13
DILLON, WHEAT & HANCHER co.
1brrlin9 3e9ister
The TERMINAL COMPANY.
The Fourth Annual Report Made Pub
lie Yesterday.

The Gross Income and Net Income
Shows a Large Increase Over
1894-The Details Of the Con
ruction of the Benwood Exten-
sion-Other improvements Made.
The Passenger and Freight Traf-
nc.
The fourth annual report of Presi-
dent C. o. Brewster, of the Wheeling
Bridge and Terminal Railroad Com
pany. dated March 10th, has just been
made public and shows that the affairs
ofthe Company have been in a generally
prosperous condition during the past
year Accompanying the Presidents
report is the detailed report of Superin-
tendent Taussig, from which it appears
that the total gross receipts for 1895,
were S1OO,O41.76, as compared with $67-
$3.50 in 1894. an increase Of So, 229.16.
The operating expenses, including
taxes. were $5S. 694.95 in 1895, as against
S4L354.97 in 1894 an increase Of SILL
339.9S. and the net earnings in 1895
were S41,346.Sl, as against $40, 457G3 in
1894. an increase Of $2O,SS91S. The
net earnings for the past year were thus
a little more than double what they
were in 1894. which makes very salts
factory showing.
In the course OF his report, President
Brewster says:
In the statement of expenses. every
thing is included, except the expenses
of the receiyership. TO be hereafter
fixed by the Court.
On February 20, 1896, the receiver
had on hand $11,11S.42 in cash. besides
uncOllected bills amounting to $5617 90
due from other roads and from rentals,
etc.
The Improvement in the business
situation, which began in the last half
OF the year 1894. continued during the
year 1895, as is shown by the tabulated
statement of the monthly earnings.
This Improvement especially affected
the iron and steel industries in Wheel
ing and vicinity from which the road
derives the greater part of its traffic.
Al present the outlook for this business
is better even than il was a year ago.
New manufacturing plants are being
established, and the old ones expect a
large business during the coming wear.
Several plots of land belonging to the
Company have recently been leased
on advantageous terms 10 industries
which promise to furnish consider
able amount of additional switching
business.
The Benwod extension to date has
cost S9l3l2.06, of which S11.13I60 was
spent during the past year. This ex-
tension, about three miles i'm length.
extends from the junction of the Ter
minal system at Thirty-fOurth street.
IN South Wheeling, to the Riverside
iron works, and further to the Bellaire
bridge in BenwOod. at which point if
Is intended TO connect with the Ohio
River railroad The latter companv
mas trackage facilities into Wheeling
over the Pittsburg. Wheeling G Ken
lucky railroad, belonging to the Penn
syivania system. Work upon the Ben
wood extension was begun in 1892 and
up TO the date Of the appointment OF
the receiver, in September. 1893. about
$4,000 was spent on its construction
After the appointment of the receiver
leave was obtained from the United
States Court TO borrow not exceeding
$4,000 on receivers certificates ~
complete this extension. The total
amount Of receivers certificates issued
was $4,000, all OF which have been
PAID from earnings. together with so
934.S4 accrued interest. The last of tbe
outstanding certificates were Maid ne
cember l, 1895 The extension wac
completed with the exception of q thou
sand feet at the southern end. in Ben
wood, I'm the summer of 1894 Since
that time condemnation proceedings
have been pending to obtain RIGHT of
way for a thousand feet in length
! through the property of the Wbeelino
Steel and Iron Company. The Tarmin-
al Company succeeded in the court he
low, and commissioners were apnoin+-
ed in July last to assess the damages
The W. 5. & I. Co. then took an aDneal
10 the West Virginia Supreme Court nj
Appeals. and the case was argued m
the January term of court. A decision
is expected during the present month.
When this extension is completed il is
reasonable to expect an increase of bus
mess from the new connection with the
Ohio River railroad
The increase in taxes over the year
1894, as shown, amounts to S21971S
This is due in part to tn epayment OF
certain municipal and county taxes for
the years 1898 and 1894. amounting Ia
S447. which had been in dispute. The
balance of the increase is mainly due
to the increase in the appraisal of our
/ property by the Board of Public Works
I of West Virginia. That Board in 1895
1 appraised the railway property in West
Virginia. including the Ohio river
bridge, at 100000, and an appeal was
taken by the Company to the court
which reduced the valuation TO 1924
600. the amount at which il had beer
| valued by the Company in its return
to the State Auditor In 1894 the
Board Of Public Works fixed the valua.
ton at 100000. and again the Com
] pany appealed to the court. which re-
fused to make any reduction. In 1885,
the valuation was fixed by the Board
at S315700. and from this appraisal an
appeal is now pending. In the opinion
! of your Directors, the taxes are exces-
sive. considering the present EARNING
capacity Of the Terminal system.
/ str-, nnrar,7 Iar. Loot n Io0T g..