The times. [volume] (Richmond, Va.) 1890-1903, 1898-02-18

The Norfolk Street Railroad Company
owns an OF the street car hnes IN no
city. Its franchise is a most valuable one
runs Tor forty-slx years. maturing IN lsit
and gives 10 the company the exclusive
control Of tho main thOroughIares OF ,he
city. This company Is me consoil .leL
OF the Norfolk city Railroad company
and the CRY and Suburban Railway anu
Improvement Company.
CITY OF NORFOLK.
Norfolk Is so well known that II IS
hardly necessary 90 give deiails OF ~
Growth. II Is The terminus OF eight rail-
roads, hes several lines or ocean steam
ers. and daily communication ny MA,el
with New York and Baltimore pesl9e9
lines to Philadelphia. Boston. &c. &c rs
Growth has been uniform and steady. the
population in 1870 being about l2tV' IN
lSSO about p 00l. In 1890 about 3lgO. anu
10 the present time 10 Is estimateo 70 ue
IS O0O and with Portsmouth and berHiey,
which are on the opposite side OF tne
Elizabeth river. and suburbs. 10 Is believed
that the population will approximate Nv
600.
LEGALITY.
The mortgage has been drawn oy
Mcssrs. Tunst3li g. Thorn. OF Nortoik ahu
gives lien OF unusual strength ana pro
lection and has also been approved ny
our counsel Major Richard NJ. Nenah.e,
whose opinion Will be furnished II de-
sired.
EARNINGS
The operations Of the read, taken from
the official figures OF the company. IoT
three years past, show the following re-
suits: ,,o. ,so-
ings scr 27S IS si2'55l p siteSlS g
Expenses 600 095'- 20 1850 % 'o''-- y
in inss rs 1896 IS s5ol56 "a s7oO95 IS
Taxes-State,
c country iy' e.. a7sl9 4s2o @ Alb 50
Net surplus.S 5Lin % s5l226 10 $65.2sl 50
Norfolk has never had electric Copen)
summer-car service. though in many re-
spects the city Is one peculiarly aoap1.g
for such service full equipignc o o5
for. and they will be put into operation
during the early spring ~ U.s. very
conservative estimate 10 calculate upon
an increase OF al least slo WO net teVcnue
from this source. IL VIII Toe oosetNe1
above that the net earnings increased
from sjgl56 m 1896 10 so 0g5 for 1897 This
satisfactory Increase mas been more lhah
maintained for months past ana Us arg 90
lv due 20 Increased population ana inc de-
veiopment Of the business OF the commu-
nifty. The gross earnings tor Decemuer
1897 and January. 1898. both show IN
groHseh or more IMAM II per itilAt NhHi tN'
corresponding periods Of lhc previous
year.
IL Is conservative 20 estimate na.ural
increase for The current year over 1871 or
10 per cent. or 81 600 but for The present
purposes we will estimate 10 at on. y $40 uu1
The Norfolk and ocean View railroad.
running 20 Hampton Roads ana connect
ing with "a ferry % ola Point mas. COR
two years past been boz the hands or "a
.ecaiver. This property Us 20 be sold
shortly and during the coming season is
expected 10 Doe operated in very close ac-
cord with the management 1f the Nor
folk street railroad The increase In
business from this source should he very
large but we VIII only estimate 10 now
as probably worth $500 net TO this COM
panv -.
at the power station ana me ronstIuc-
tion of a switch into the boiler ron.
from the main line OF tho Norfolk and
Western railroad. distance Of only
about 100 wards. viii it is thOpght save
g. 200 IN operating expenses. ana these lm-
provements are now being carried out