The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1897-11-16
B. & 0. FINANCES.

tue mIAiheIs OF lNr iuIIntI uoaAH W
directors were all reelected unarl-
mously, l62,47O shares OF stock being
voted.
The report submitted to-day to the
stockholders shows gross earnings for
the year ending June 80, 1897, OF S25,-
bs2.122 81, an increase OF Sl,6S7,SiO u
over the previous year, and S2764,94O o.
more than in 1895. The freight earn
ings were SIS, ,sSe,S6l 81, an Increase of
N,5lS,lS 0s, which Increase Is ascrlbed
to the many improvements and large
increase in equipment afforded the pa
irons OF the line by the receivers and to
q general and intelligent effort to In
crease the traffic OF the road. The pas
senger revenue was S5,o59O0l 92, de-
crease OF {2569i1 n. or s9,9Q 66 more
than was earned In 1895. The miscel-
laneous earnings Increased SS1S,749 Is,
OF which increase the elevators contri-
buted SS26,179 IS, they having earned
S514,125 II, In 1897, as against slS7,S55 7S
In 1896.
The total expenses OF the line were
$20, ,0l2, ,093 81, an increase OF S2,42S, ,673 40.
This Increase is very frankly explained
by the statement OF the large sums re-
quired in maintenance OF way and
maintenance of equipment. The receiv-
ers have replaced a large number OF
old bridges built many years ago with
modern steel structures capable OF car
rying the heaviest trains, II was found
absolutely necessary TO arch q large
number of tunnels and TO place In the
track much more than the normal
amount OF new steel rails, cross ties
and ballast. AS an illustration OF such
expenditures 1t may be mentioned that
the entire Washington branch was re-
laid with steel rails the ties largely re-
newed and Q large amount OF stone bal
last put in, the entire earnings OF this
branch having been used TO put It's
roadway IN perfect condition.
In the report Of the general manager
Is found detailed statement OF these
expenditures which were charged to
maintenance OF way. A portion of the
general Increase was caused by the un-
usual expense for maintenance Of
equipment, the receivers having placed
in thorough repair all OF the cars and
engines OF the company which could be
prohtably put In condition. These ex-
penditures amounted to S60S, ,sSS 0S more
than In 1896, and to l,429,l26 II more
than IN 1895. The deficit for the year
was sl,177,120 12. but had II not been
for the increase in expenses OF main
tenance OF way and mainf nance OF
equipment the earnings would have
been more than sufficient 10 have paid
the interest on the bonded indebtedness
OF the road.
The aggregate EXPENSES for construc-
tIon and betterTnerTts-fo the twelve
months have been s1,s95,I9 so, an In
crease of 1885,, $3.50 90, and this amount
has been charged TO the different in
vestment accounts to which the expen-
dltures appertalned. The trust fund
derived from the sale Of Terminal
mortgage bonds. the use OF which is
restricted to making certain improve
ments, was used substantially at two
points, namely, Pittsburgh-Glenwood
terminal, and the shops, round-house.
yards, etc, at Cumberland. The grades
and alignment of the road between Bal
tlmore and Cumberland have been much
improved, and as consequence of this
Improvement the train loads on these
divisions have been increased at least
30 per cent
At Locust Point, new docks and two
berths for ocean steamships have been
constructed and an old pier re-arrang-
ed, and the officers of the receivers es-
innate that the cost will be saved In a
single year in the reduced expense Of
unloading incoming vessels. Large eX-
pendltures have also been made at Lo-
Gust Point ia re-arranglng the yards
and more than four times the Interest
upon the cost ID already saved In the
reduction OF switching charges. A
large number OF other improvements
have been made, all OF which tended to
lessening the cost OF operation and to
facilitate the handling OF traffic,
The report shows radical reduction
made In tho amount 10 the credit OF pro-
Mt and loss. 4 special committee or
the board was appointed to examine
the assets OF the company and revalue
the rolling stock. stocks and bonds and
certain other assets. This committee
made q radical reduction IN the value
OF the rolling stock. stocks and bonds
and advances for construction TO the
various subordinate lines during the
years past, and certain other assets OF
the compnny-reduclnR the total to the
credit OF profit and loss by about s2O,-
OOO, 900. The balance sheet gives very
clear and full statement or the assets
and liabilities OF the company
one Of the fcntures OF the report Is
the tables, and several are quite new.
one shows the earnings and expenses
of nll divisions. east and west OF the
Ohio river, and another gives an nccur-
nte Hist Of the stocks and bonds owned
by the Baltimore & Ohio Railroad
Company on June 10, 1891 together
with their value, which IN si5,i6G,i63 10.
The report Of the general manager
shows that the tonnage carried includ-
ing coal and coke, was ls,7lG,G6j, an in-
crease OF s5i.72s tons. or As per cent.
Tho tons carried one mile Increased
GGG, ,0O3. 1903, an Increase OF 21.4 per cent.
During the lycar nine locomotives
were rebuilt. Aj received thorough re-
pairs. 1889 ordinary repairs were made.
2li,0i2 running repairs made. The total
cars In service June 10, 1897, were GI2
passenger and 3O.OSO freight, Tho loco
motives number 800 The car mileage
Increased bb,biO.i i6s. The total number
OF passengers carried IN 1897 was 8,3ii,-
O7s, n decrease Of e2a,ii0.
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