The times. [volume] (Richmond, Va.) 1890-1903, 1898-02-16
FRANCHISES

The Norfolk Street Railroad Company
owns all of the street car lines In ma
city. Its franchise Is a most valuable one
runs for forty-six years maturing loo 1885,
and gives to the company the exclusive
control OF the main thOroughiares of ihe
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 so well known that BE- is
hardly necessary 10 give details oi rs
growth. IL is the terminus of eight rail-
roads. has several lines OF ocean steam
ers. and daily communication hy water
with New York and Baltimore hesid.
lines 10 Philadelphia, Boston. Nc, &. Us
growth has been uniform and steady tho
population I'm 1870 being about l.0l' in
1850 about roo. in 1880. about 5000 and
at the present time II is estimated 10 Do.
5000 and with Portsmouth and berk.eN,
which are on the opposite side OF inc
Elizabeth river. and suburbs. it IS believed
that the population will approximate lN1-
600
LEGALITY.
The mortgage has been drawn hy
Messrs Tunstall ~ Thorn. of Norfolk. and
gives "a lien OF unusual strength and proc
lection and has also been approved bN
our counsel. Major Richard NJ Vcnlbic.
whose opinion will be furnished ii dee
sired.
EARNINGS
The operations Of the road. taken from
the official figures of the company for
three years past. show the following rc-
suits: .
ings .......Sl2lslS . }i2s5s g }lts u.s. 60 g.
Expenses 90. 69.3'2 ?, 1886 is '6i- ~
Net earn .-...---
TaXes-State.
country . 1904 70 1929 ss t1s So
Net surplus.s 5iln 90 s54226 80 s 65.2sl 50
Norfolk has never had electric (opem
summer-car service. though 90 many re-
spects the city Is one peculiarly adapted
for such service. a fun equipment OF
summer cars has lust been contracted
for and they will be put into operation
during the early spring IL U.s. % very
conservative estimate 20 calculate upon
an increase Of an least $1,000 net revenue
from this source. IL Will DE opserVe'
above that the net earnings increased
from $50 1856 in 1895. 10 SlO095. for 1872. This
satisfactory increase has been more than
maintained for months past. ana ls large
Is due 10 increased population and the de-
VelODment OF the business OF the COmmu -
nifty The gross earnings for December.
1897, and January, 1913, Doln SHOW lN-
creases Of more than II per cent. over the
corresponding periods OF tho previous
year.
II is conservative 10 estimate natural
increase for the current year over 1897 or
10 per cent, or $4,000. but FOR the present
purposes We will estimate IL at only $4,000.
The Norfolk and ocean View railroad.
running 20 Hampton Roads and connect
ing with a ferry % old Point. has for
two years past been I'M the hands OF "A
receiver. This property is 10 Doe sold
shortly. and during the coming season ls
expected 10 be operated in very close ace
cord with the management OF the Nor
folk street railroad. The increase in
business from this source should Dee very
large. but we viii only estimate 10 now
as probably worth $500 net TO this COM
pany.
The establishment of "a condensing plan
at the power station. and the constitute
ton of a switch into tine boiler rblm
from the main line Of the Norfolk ana
Western railroad. distance off only
about 100 yards will. IL is thought save
s. 500 in operating expenses. ami these im-
proyements are now being carried OUT