The evening times., 1898-11-24
GOSSIP OF RAILROADS
AND FINAN CIAL MATTERS
Coast Line COnsOiidatiOn-The Bal
timore and. 0hio--The Peanut
Trust n Fixed Fnct.

The Atlantic Coast Line of Virginia.
was formed yesterday at Richmond from
a consolidation of the Petersburg Rail-
road and the Richmond and Petersburg
Railroad. The stockholders of the two
roads met and voted on the consolidation
according TO the bill passed by the Nir-
ginia legislature at its last session author
izing this action. 1t is understood that
there will be no change in the manage.
ment or policy of the two roads.
The annual meetings of the stockholders
of the two railroads were also held The
annual reports were submitted and the
officers for the coming year elected. The
net receipts of the Richmond and Peters
burg were Sls4, rs; net revenue $780,
91464 interest on bonded debt. $34 175; divi-
dends. s70.G00: surplus. $50, 6,3i064. The gross
receipts of the Petersburg road were $780,
1883; operating expenses and taxes. S3l2,-
1921; net balance. $2S7 953.12.
Alexander Hamilton was elected presi-
dent of the Richmond and Petersburg
The vice president of the road and the
old board of directors were reelected.
The officers of the Petersburg road were
reelected.
The annual report of the Richmond
Fredericksburg and Potomac Railroad
shows gross revenues of $I79. .750. Il; net in
come, 1910 243.06, an increase of $50 S62 80
Large orders for freight cars and
freight locomotives have just been placed
by the Baltimore and Ohio. 1t is said
that they have been absolutely necessary
owing to the great increase in the traffic
of the road. A gratifying commentary
on the Improvement in the roadbed of the
Baltimore and Ohio during the past two
years is shown in the fact that the cars
ordered are larger and heavier than it
has been possible to run on the road
heretofore, The car order is for 1000 steel
coal cars of a capacity of 100000 pounds
each. The Schoen Pressed Steel Compa-
| ny, of Pittsburg, viii furnish the cars.
An order for fifty additional consolidated
| locomotives with 22x2S cylinders has been
! placed with the Pittsburg Locomotive
| Works.
| 1t is said that the action of the Mary
| land authorities in temporarily refusing
| to deliver the States holdings of pre-
| ferred stock to the reorganization syndi-
| cate will not delay the deal in any way.
| The State authorities question their righ;
| to sell the stock al private sale and it is
| thought that it must be advertised and
sold at auction. Attorney General Cla-
baugh will deliver an opinion on the
| matter in a few days The other large
holders of the stock including the Johns
| Hopkins University will deliver their
! stock on Friday.
| 1t is believed that William Saloman of
| Speyer & Co., will be the chairman OF
| the board of directors of the Baltimore
and Ohio, despite the statement of Mr.
Saloman yesterday that he has not yet
decided to act in this capacity Mr.. Sal
1 Slxf
| experience in railroad financial matters
1t is understood that he will devote his
entire time to Baltimore and Ohio affairs
| He was in conference with Receiver Cow.
| en- for several hours yesterday.
Two new trusts are In the field. 1t has
| been rare day during the past month