Evening star. [volume] (Washington, D.C.) 1854-1972, 1897-11-15
B. AND O. COMPANY AFFAIRS
Showing Made at the seventy-6rst Annual
Meeting of the Stockholders.
Statement Showing Gross Earnings,
Total Expenses and Value Of Prop
erty-The Annual Report.

The seventy-frst annual meeting Of the
stockholders of the Baltimore and Ohio
Railroad Company was held today at noon
at the Central building in Baltimore. Mr..
Reverdy johnson presided and Mr.. c. s.
Woolford was secretary.
The annual report of the directors was
adopted. This showed gross earnings for
the year ending June 80. 1897, Of 1852,
100 81 an increase of 81 ,637 ,34O.71 over the
previous year, and 81, 764 ,940.07 more than
in 1885. The freight earnings were $751;
1916. S51.S7, an increase of 81 SIS, 1908,
which increase is ascribed to the many i'm
provements and large increase in equip
ment afforded the patrons Of the line by
the receivers and to a general and intelli-
gent effort to increase the traffic of the
road. The passenger revenue was $5Oo9, :
OO1. 81, a decrease of $256,941.47, or $99O4 80
more than was earned in 1885 The mis-
cellaneous earnings increased 1878, 749 Is. of
which increase the elevators contributed
S326.I19.3s, they having earned Sol4,L3.11
in 1897 as against $1S7 .355. 70 in 1886.
THE total expenses of the line were 800
or O93. 81, an increase of 81, 42S, 1916. This
increase is explained by the statement of
the large sums required in maintenance OF
way and maintenance OF equipment. Inc
receivers have replaced a large number of
old bridges built many years ago with
modern steel structures capable OF carry
ing the heaviest trains 1t was found alb
solutely necessary to arch large number
of tunnels and to place in the track much
more than the normal amount of new steel
rails, cross ties and ballast. The entire
Washington branch was relaid with steel
rails, the ties largely renewed and large
amount of stone ballast put in, the entire
earnings of this branch having been used
to put it's roadway in perfect condition"
General Managers Report.
In the report of the general manager is
found a detailed statement Of these ex-
penditures, which were charged to main
tenance of way. "a portion Of the gen.
eral increase was caused" 1t was ex-
planned, "by the unusual expense for main
tenance of equipment, the receivers having
placed in thorough repair all Of the cars
and engines of the company which could
be profitably put in condition. These ex-
penditures amounted to sos 63S.O3 more
in 1895. The deficit for the year was
81 III ,12O.12 but had 1t not been for the
increase in expenses OF maintenance OF
way and maintenance of equipment. the
earnings would have been more than SUI
ficient to have paid the interest on the
bonded Indebtedness of the road.
THE aggregate expenses for construction
and betterments for the twelve months
have been 81 ,695, 1850. an Increase Of
81 ,3S6, 5000. The trust fund derived from
the sale of terminal mortgage bonds. the
use of which is restricted to making certain
improvements. was used substantially at
two points, namely, Pittsburg- Glenwood
terminal, and the shops, round house,
yards, etc, at Cumberland. The grade
and alignment of the road between Balti-
more and Cumberland have been much i'm
proved, and as a consequence Of this i'm
proyement the train loads on these divisions
have been increased at least 80 per cent.
AT Locust Point new docks and two
berths for ocean steamships have been
oil MIC a rro 1evo<v
and the officers Of the receivers estimate
that the cost will be saved in single year
in the reduced expense OF unloading incom-
ing vessels. Large expenditures have also
been made at Locust Point in rearranging
the yards and more than four times the
interest upon the cost Is already saved in
the reduction of switching charges. A
large number of other improvements have
been made, all of which tended to lessen
ing the cost of operation and to facilitate
the handling Of traffic.
Profit and Loss.
The report shows a radical reduction