Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1898-02-15
FRANCHISES.

The Norfolk Street Railroad Company
owns all Of the street-car lines in the
city. Its franchise is a most valuable one.
runs Tor forty-six years. maturing In 1914.
and gives 10 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 so we'll known that it Is
hardly necessary 10 give details Of ITS
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
fines TO Philadelphia. Boston. &c. &c. It's
growth has been uniform and steady. the
population i'm 1870 being about 1850 IN
1850 about 22,0o0: in 1880 about 1900. and
at the present time IT is estimated 10 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 lOJ,-
&C.,
LEGALITY.
The mortgage has been drawn by
Messrs Tunstall & Thorn of Norfolk. and
gives a lien Of unusual strength and pro-
lection. and has also been approved by
our counsel Major Richard NJ. Nenablc.
whose opinion will be furnished if 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. 1895. 1897.
Gross earn
ines .......sl27.27S Is SlSS.55S - Si6,SlS 81
Expenses -. 69,S'z 2 is'5s5 % 'o''-z "
ings .......s 1906 IS 5o.l5s A 1905 IS
TaXcS-State,
county 49,. s.76l 70 1929 SO ALB "
Net surplus..$ 541n 90 54,g25 IS 65.5Sl 81
Norfolk has never had electric topen)
summer-car service. though in many re-
spects the city is one peculiarly adapted
for such service A full equipment OF
summer cars has Just been contracted
for. and they will bee put into operation
during the early spring. 1t Is a very
conservative estimate to calculate upon
an increase Of at least $4,000 net revenue
from this source. II will be observed
above that the net earnings Increased
from S59156 I'm 1896. TO S7OOg5. for 1897. This
satisfactory increase has been more than
maintained for months past and is large
" due to increased population and the de-
velopment of the business of the commu-
nifty. The gross earnings for December
1897 and January, 1885 both show in
creases Of more than Ii per cent. over the
corresponding periods of the previous
year.
1t is conservative to estimate a natural
increase for the current year over 1877 OF
10 per cent. or $4,000, but for the present
purposes we viii estimate it at only $1,000
The Norfolk and Ocean View railroad
running 10 Hampton Roads and connect
ing with a ferry to Old Point has. for
two years past been i'm the hands of
receiver. This property is to 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 I'm
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 condensng plant
at the power station. and the con-
struction OF a switch into the boiler-room
from the main line Of the Norfolk and |
Western railroad, a distance of only !
about 100 yards. will. It is thought. save