Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1897-11-16

Vem0nC IN FrolgnC RecelpLS, DuC
a Falling Off in Passenger Re-
ceipts.
Baltimore, November 15.-The sloo
holders of the Baltimore & Ohio Rail-
road held their annual meeting In this
city to-day and received the annual re-
port of John K. Cowen, the president
and co-receiver of the system
The seventy-frst annual report OF the
Baltimore & Ohio Railroad Company,
submitted to-day to the stockholders,
shows gross earnings for the year end
ing June Both, 1897, of $25, 5S2, 1921,
an increase of $1,637 ,34O.71 over the
previous year, and $2,764, 94007 more
than in 1895. The freight earnings
were $1S,336, S51.S7, an increase of$1,-
518,1S0.03, which increase is ascribed to
the many improvements and large in
crease in equipment afforded the pa
irons of the line by the receivers, and
to a general and intelligent effort to
increase the traffic of the road. The
passenger revenue was $5,059 ,O01.92, a
decrease of $256,94.47, or S9,904.6
more than was earned in 1895. The
miscellaneous earnings increased $685.
1876, of which increase the elevators
contributed $326,779.3s, they having
earned S514,125.11 in 1897, as against
s1S7, 355.73 in 1896.
The total expenses Of the line were
s20,012, 09381, an increase of $2,42S,-
673.46. This increase is very frankly
explained by the statement of the
large sums required in maintenance Of
way and maintenance of equipment.
The receivers have replaced a large
number of old bridges, built many years
ago, with modern steel structures ca
pable of carrying the heaviest trains.
1t was found absolutely necessary to
.anth. a large number of tunnels and to
Ice in the track much more than the
rmal amount of new steel rails, cross
ID and ballast. As an h','etratie''- o.
sNp'h expenditures, it may be men
~ I'd that the entire Washington
Aprafth was relaid with steel rail, the
ties largely renewed and large
amount Of stone ballast put in, the en-
tire earnings of this branch having
been used to put it's roadway in perfect
condition.
In the report Of the general man
ager is found detailed statement OF
these expenditures which were charg-
ed to maintenance of way. A portion
of the general increase was caused by
the unusual expense for maintenance
of equipment, the receivers having
placed in thorough repair all the cars
and engines of the company which
could be profitably put in condition.
These expenditures amounted to $685.
63S.O3 more than in 1896, and to ST.
429,12617 more than in 1895. The
deficit for the year was $1,177 120.12,
but had it not been for the increase
in expenses of maintenance of way and
maintenance of equipment the earn
ings would have been more than suff1-
cient to have paid the interest on the
bonded Indebtedness of the road.
The aggregate expense for the con-
struction and betterments for the
twelve months have been 1885, 496.S0,
an increase of 1885, 1869, and this
amount has been charged to the differ
ent investment accounts to which the
expenditures appertained. The trust
fund derived from the sale of Termin-
al mortgage bonds, the use of which is
restricted to making certain improve
ments, was used substantially at two
points, namely: Pittsburg- Glenwood
terminal, and the shops, round house.
Yards, etc., at Cumberland. The
grades and alignment Of the road be-
tween Baltimore and Cumberland
have been much improved, and as
CONSEQUENCE of this improvement the
trail loads on these divisions have
beef 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-
arranged, and the officers of the re-
teivers estimate that the cost will be
iaved in a single year in the reduced
Expenses of unloading incoming YES
lsels. Large expenditures have also
I been made at Locust Point in rearrang
ing the yards and more than four times
The interest upon the cost is already
saved in the reduction of switching
i charges. A large number of other i'm
4 provements have been made, all of
\ich tended to lessening the cost of
ion and to facilitate the handling
prt shows a radical reduc-
in the amount of the credit
of profit and loss. A special commit
tee of the board was reported to ex-