Wheeling Sunday register. [volume] (Wheeling, W. Va.) 1882-1934, 1897-07-25

Receiver ]. K Cowan, Of the Balti-
more and Ohio railroad, has made a
statement bearing upon the recent de-
cision by Judges Goff and Morris. OF
the United States District Court, from
which the following extracts of general
interest are taken
The duty of the receivers was a
plain enc. 1t was a duty that they
owed to every interest in the prop
erty and was TO be exercised as a
function owed the public. What was
to be done had to be done quickly, and
this involved the expenditure OF a
seemingly large sum of money in a
very short time. The results are now
beginning to appear. For the fiscal
year which ended June so, 1897, the
earnings of the Baltimore and Ohio
were S25,557, 900. Compared with the
previous year this is an increase Of
81, S07 900, and this in year when the
prevailing business depression and the
competition for tonnage made rates
low.
While the Baltimore and Ohio in
creased its earnings more than two
millions its chief competitor showed a
decrease Of more than FIVE millions OF
dollars. The reason of this is because
the Baltimore and Ohio had been put
in shape TO care for business that nat
uTally belonged TO it. and if it had been
in this state in 1895 it, too, would have
shared in the heavy traffic movement
which made that years earnings of the
-
dictiOns as to the future are profile
matical, but this year promises TO be
a fairly prosperous one, with revival
Of business, and even larger increase of
the earnings of the Baltimore and Ohio
must result.
In carrying out the policy Of keep
ing the wheels going round we have
added considerable new equipment, but
despite this have been paying a large
sum monthly for foreign mileage. Five
thousand new freight cars have been
put in service and 220 freight engines,
some Of which have not turned wheel
for months, were sent through the
shops and put TO work. In round num-
bers $150,000 was spent in putting down
passing sidings along the road to facil-
itate the movement OF trains, and in
yard sidings TO quicken the deliveries.
Terminals were looked after and large
sums from the terminal reserve fund,
which were in bank drawing 21s per
cent interest, although costing the
company AZ per cent, were spent at
Pittsburg and Cumberland. Grades
were improved so that instead Of haul
ing thirty cars to a freight train forty
and forty-fiye could be handled.
AT Locust Point $40 900 was spent
in a new pier. which will pay for it
self inside Of year in the saving Of
delay in loading and unloading of for
eign steamships. II also enabled the
introduction Of economies that will
make an annual saving. Now instead
Of four tracks TO enter the Locust Point
yards. which owing TO their arrange
ments only two were of practical value,
we now have twenty-five. There are
now four great yards there. and cars
singly and in trains can be handled
with maximum rapidity. or the in
creased expenditures for the year
100000 went for equipment and ST.
200, 900 went into the track. More than
so per cent of the expenditures for
track improvements was paid for ma
terialS. Notwithstanding this vast in
crease in expenditures, twice as much
as was spent the preceding year, the
cost Of labor increased only 8 per cent
over the average Of the last seven
years. The increased expenditure in
conducting transportation was $685.
600. The increased number of tons car
ried one mile was % per cent, making
the additional cost 5$4 per cent for
hauling this increased business