The Norfolk Virginian. [volume] (Norfolk, Va.) 186?-189?, 1897-10-01
) a. [. ANNUAL REPORT
Soma Statistics Relative TO the Present
! Condition Of the Company. &
EXTENSIVE 8EITERntR1s1O1HE SYSTEM
Toi"i Receipts Amounted 20 ss.z77,S
0Al.I7-Incrcpses, in Not Earnings
of s3I,76e = Money Spent In the
Mainteinnnceo OF Hay-Broad Plan
for Inducing Immigration.

The annual meeting or the seaboard
and Roanoke Railroad company, which
IS TO be held on October 9Th at Ports
mouth, is arousing considerable interest
IN financial circles owing partly to the
contest which 1t is expected will be made
with the view Of placing control OF the
Line In the hands OF other parties.
The Manufacturers' Record, of Balti-
more, has obtained statistics relative
10 the present condition Of the Seabcard
Air Line and the Seaboard and Roa-
hoRe company, which show q very
gratifying Increase in the company's
revenue and the condition of affairs
which VIII doubtless prove very salts
FACTORY to the various stock and bond
holders
The total receipts of the Seaboard Air
Line system from all sources for the year
ending June 80, 1897, amounted to
S3'nL641.l7. Deducting operating ex-
penses and taxes, a gross income was
lett OF $1,000. 0S5.SS. Deducting from this
amount sums paid for leases, also losses
or every character and q dividend of
sis'66S, there Is left for the year a sur
plus OF S1S9, SAP, compared with Sl5S,-
oio.o1 Tor the preceding year. an in
crease Of S31, 76G. For the year ending
June 30, 1896, gross earnings from al
sources were s3,52S.G39, showing that
during the past year there has been an
Increase of S24S,OO2 The. Georgia. Car
DINA and Northern division of the Sea-
BOARD Air Line is leased to the Scaboard
ana ltoanoie and the Raleigh and Gas
ton companies. The Us per cent. of
gross earnings paid the Georgia, Caro-
ma ana Northern under terms of the
tease We're S305, 1854 $685.. 3G4.9 more
than the interest on its bonds
This surplus was applied to reducing
| the debt OF the Georgia, Carolina and
NoFtheFn; road to the lessees. 1.-THE re-
| ceipts of the Seaboard Air Line Belt
railroad amounted to sS2,7S6.o2,. giving
surplus of $46,GG0.26. rtkt -stt',..
Inc report for the Seaboard apd Rua-
noke Railroad company for tile year
| SHOWS gross revenue from transporta-
| ton OF SS9S, GfS.3S. and a net revenue Of
ssSo'oSl.lJ AFTER dcductinS operating eN-
penses and taxes. Income from other
sources swelled 1t to S37S, O3S.95 From
! this amount a surplus was left for the
year OF S55. 199.49. after deducting charges
or I'LL kinds and dividend on it's pre-
| terred stock of per cent This is nc,
increase in the surplus for the year Of
S3l,Slo. or nearly double the amount re-
ported in the preceding year. The gross
revenue shows an increase of about SGO,-
ooo over the preceding year. the gain be-
ing contributed by both the freight and
passenger departments.
Inc financial status Of the system as
indicated by the Manufacturers Re
cords report, has not been brought
about by neglecting the physical condi-
non Oh The road or restricting legitimate
expenses FOR maintenance OF way and
transportation, as several reports show
larger appropriations made for these
purposes. Nearly $4,000 more was spent
lor the maintenance of way during the
past year than In 1896, an Increase OF
over II per cent, while the increase in
| the maintenance of equipment amounted
| mr..
n total of a'bout $4,000 more than the
| previous Year for these purposes. DIR
| ing the year nearly 100000 was ex-
pended for additions 10 the property.
This included. $4,000 for terminals at
portsmouth for wharf purposes. Equip
ment to the extent of S33,Sf4.i9 was Sc
| cured from car trusts, while the report
shows that $161. 1861 was paid towards
| equipment already purchased and what
are known as the A. Il. 4. car truss.
In addition to the wharf at Portsmouth.
a storehouse, pattern house, electric
plant and other buildings were cor
structed at this point d. total cost OF
about $4,000. The company built nfly-
SIX new freight cars and rebuilt twenty
| nine. also six locomotives. A branch line
to the Henrietta Cotton Mills was com
| pleted and surveys made Cor anothe;. 10
Roanoke Rapids OH the Seaboard and
Roanoke section of the system. The new
|
recently been opened, was also com
pleted during, the year at N cost of over
100000. This is one of the finest build
.ngs of it's kind In the country.
During the year the Seaboard Air Line
has been carrying out broad and COM
| prehensive plans for attracting immf-
grants to that section of the South of
which 1t is the outlet, and has also
given It's aid to the Industrial develop
ment of the same section. AS 4 result a
| large number of settlers have been In
duced to locate In the vicinity of the
Seaboard, and extensive Investments of
| capital have been made and are being
made IN cotton mills and other manufac-
| turing enterprises.
NERVOUS TROUBLES all kinds cured
| with ANIMAL, EXTRACTS. Free book
| tells hCw. WASHINGTON CHEMICAL
| CO., Washington, D. c.
| Night school at Southern Shorthand
and business University. Opens Mon
day. October 4th. Call at University.
Haddlngton Building, for particulars.