Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1898-02-17
FRANCHISES.


The Norfolk Street Railroad Company
owns all OF the street-car lines in the
city. It's franchise is a 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 ana
Improvement Company.
CITY OF NORFOLK.
Norfolk is so well known that IT Is
hardly necessary to give details OF us
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. It's
growth has been uniform and steady, the
population I'm 1870 being about 5000; In
1880. about 22OC0; in 1890, about 5000. and
at the present time ii is estimated to be
5000. and with Portsmouth and Berkeley,
which are on the opposite side OF the
Elizabeth river, and suburbs 1t is believed
that the population will approximate lv-
900.
LEGALITY.
The mortgage has been drawn by
Messrs. Tunstal & Thorn. of Norfolk, and
lection, and has also been approved By
our counsel. Major Richard NJ. VenabIe.
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:
Gross earn
ings -. s127. 27s Is $685. % y4s.Sls 81
Fxnenses 69372 u 1886 IS 76.7Z yz
ings .......s 1896 So s 1886 a 7o,Os5 rs
TaXes-State,
city, and
county ... 5,7G 70 1929 sS A,n5 %
Net surplus..$ 541A % 5 54225 AZ 6o,3sl 80
Norfolk has never had electric (open)
summer-car service, though In many re-
snects the city is one peculiarly adapted
for such service. A full equipment of
summer cars has just been contracted
for and they will be put into operation
during the early spring. 1t is a very
conservative estimate TO calculate upon
an increase of ar least $4,000 net revenue
from this source. 1t will be observed
above that the net earnings increased
from s59.156 in 1896, to S70095. for 1897. This
satisfactory increase has been more than
maintained for months past. and Is large
w due to increased population and the de-
velopment of the business of the commu-
nifty. The gross earnings for December,
1897 and January. 1898. both show in
creases of more than IL per cent over the
periods of the previous
year.
1t is conservative to estimate natural
increase for the current year over 1897 OF
10 per cent, or $4,000, but for the present
purposes we will estimate it at only SloOOO.
The Norfolk and Ocean View railroad
running TO Hampton Roads and connect
ing with a ferry to Old Point, has, for
two years past been in the hands OF
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 1t now
as probably worth $500 net to this COM
pany.
The establishment of condensing 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, II is thought save