Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1898-02-16
FRANCHISES.

The Norfolk Street Railroad Company
owns all Of the street-car lines in the
city. It's franchise is q most valuable one.
runs for forty-six years maturing in 1874,
and gives to the company the exclusive
control of the main thoroughfares OF the
city. This company is the consolidation
of the Norfolk City Railroad Company
and the City and Suburban Railway and
Improvement Company.
CITY OF NORFOLK.
Norfolk Is 50 we'll known that IL is
hardly necessary to give details of IT'S
growth 1t is the terminus Of eight rail-
roads has several lines of ocean steam
ers. and daily communication by water
with New York and Baltimore besides
lines TO Philadelphia, Boston, &c. &c. us
growth has been uniform and steady. the
population in 1870 being about 1900; in
1850 about 1900; in 1880. about 1900, and
at the present time il is estimated TO be
5000. and with Portsmouth and Berkeley,
which are on the opposite side OF the
Elizabeth river, and suburbs, il is believed
that the population will approximate lU,-
OC0.
LEGALITY.
The mortgage has been drawn by
Messrs. Tunstall & Thorn. of Norfolk, and
lection. and has also been approved by
our counsel. Major Richard NJ. Nenable,
whose opinion will be furnished IL de-
sired.
EARNINGS.
The operations of the road, taken from
the official figures of the company, Tor
three years past, show the following re-
suits:
1895. 1896. 1877.
ings .......N27,27S Is sl3s.55S y Ni6,SlS 81
EXPENSES 6g.372 q 1885 Is 1871 "
ings .......s 57,sO5 IS 5s,i5s "A s7o'o95 rs
Taxes-State,
city, and
county 80. S,76i 70 1923 30 4'hS I"
Not surplus a1nO9 8 54,225 46 s 65.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. q 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 $4,000 net revenue
from this source. IL will be observed
above that the net earnings increased
from S59.f5s in 1896 to s70,O95 for 1897 This
satisfactory increase has been more than
maintained for months past. and is large
w due to increased population and the de-
velopnent OF the business Of the commu-
nity. The gross earnings for December,
1897 and January, 1898. both show in
creases Of more than II per cent. over the
corresponding periods of the previous
year.
II is. conservative to estimate a natural
increase for the current year over 1897 o.
10 per cent. or $1,000, but for the presen
purposes we will estimate il at only $1,000.
The Norfolk and Ocean View railroad
running TO Hampton Roads and connect
ing with ferry to Old Point, has, for
two years past been in the hands OF a
receiver. This property is TO be sold
shortly. and during the coming season Is
expected TO 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 will only estimate it now
as probably worth $500 net to this COM
pany.
The establishment of a condensng plant
at the power station. and the con-
struction Of a switch into the 5oiler-room
from the main line of the Norfolk and
Western railroad. distance Of only
about 100 yards, will, it is thought, save