The times. [volume] (Richmond, Va.) 1890-1903, 1898-02-17
FRANCHISES


The Norfolk street Railroad Company
owns ali OF the street car lines In tho
city. Its franchise Is a most valuable one
runs for forty-slX years. maturing IN lsif.
and gives to the company the exclusive
control OF the main thoroushIareS, 4a , tne
OF the Norfolk CITY Railroad toinpany
and the city and Suburban Railway ana
Improvement Company.
CITY OF NORFOLK.
Norfolk IS so we'll known that II IS
hardly necessary TO give details OF ~
growth. IL Is the terminus or elSnt Ial,-
roads. has several lines OF ocean slc@,"
ers. and daily communication by water
with New York and Baltimore, besides
lines 10 Philadelphia. Boston, &c. &c. US
growth has been uniform ana steady, tno
population In 1870 being about l3uO' IN
1850 about o. 000 In 1899. about 1000. ana
nj the present time It ~ estimated 70 DC
s. 600. and with Portsmouth and Berkeley
which are on the opposite side or inc
Elizabeth river, and suburbs, II rs belsNeu
that the population will approximate Nv
90.
LEGALITY.
The mortgage has been drawn by
Messrs. Tunstal & Thorn. OF Norfolk. ana
gives a lien OF unusual strength and pro-
lection. and has also been approved oy
our counsel. Major Richard NJ Nenaole
whose opinion Will be furnished II de-
sired.
EARNINGS.
The operations of the road. taken from
the official figures OF the company for
three years past, show the following re-
suits: - ,e.-
inss ....... 1927 g7s IS N3s $50 y Hts.ss 81
Expenses 80 69372 u 1896 II 1G,I2 70
ings ......s 57.9O5 SO t5s.156 a s7O.O95 IS
Taxes--state,
country o. S.7ei79 As2s IS Alb Sc
Net surpluss 5LIu % Si.22 is se5,SSl 50
- ------
Norfolk has never had electric (open)
summer-car service. though In many re-
spects the city Is one peculiarly adapted
for such service. full equipment OF
summer cars has just been contracted
for. and they will be put into operation
during the early spring. IL Is very
conservative estimate TO calculate upon
an increase of at least $40 600 net revenue
from this source 1t will be observed
above that the net earnings increased
from $50. 1856 In 1896. 10 Si0O95 for 1891 TINS
satisfactory Increase has been more thnn
maintained for months past. and is large
~ due 10 Increased population and the de-
Velopment OF the business of the commu-
nifty. The gross earnings for December.
1897, and January, 1893. both show IN
creases OF more than II per cent over the
corresponding periods OF the previous
year.
It is conservative TO estimate a natural
increase for the current year over 1897 or
10 per cent. or $1,000. but for the present
purposes We will estimate II at only $4,000
The Norfolk and ocean View railroad
running 20 Hampton Roads and connect
ing with a ferry 10 Old Point. has. for
two years past been in the hands OF a
receiver. This property Is 10 be sold
shortly. and during the coming season IS
expected 10 be operated In very close ac-
cord with the management OF the Nor
folk street railroad The increase in
business from this source should be very
large but we viii only estimate Il now
a. probably worth s2.500 net 10 this COM
pany.
The establishment Of condensng plan
AZ the power station. and the consiruc-
tlon OF a switch into the boiler rBm
from the main line OF the Norfolk and
Western railroad. distance of only
about 100 yards. will. II IS thought. save
s. $40 In operating expenses. and these inn
prOvements are now being carried out.