Delaware gazette and state journal. (Wilmington, Del.) 1883-1902, 1899-01-12
P, W. g B. RAILROAD co.
Annual Meeting and Election of Officers l
Thi. CIV on Monday,

Wilmington & Baltimore Railroad Co.
held their 61st annual meeting and cleo
tion Monday at the office in this city,
and approved the annual report Of the
company for the fiscal year ending
October 31st, 1893. The following
directors were elected: FRANK Thomson,
William Sellers, John p. Green, Benja-
min B. Comegys. BENJAMIN f. New
conner, Edward Lloyd, Skipwith Will
MGR, e. Tatnall Warner, German II,
Hunt, N. Parker Shortlidye, Preston
Lea, John Cassels, Charles e. Pugh,
William III. Barnes and Sutherland M.
| Provost.
| After the annual meeting the board
of directors met for organization and
elected the following officers; Frank
Thomson, President; John ?. Green,
Vice. President; Charles e. Pugh,
Second Vice. President; s. M. Provost,
Third Vice. President; j. G. Sims,
Secretary; Robert ". Smith, Treasurer ;
j. b. Hutchinson, General Manager /;
| Lewis Nelson, Assistant Secretary,
md also the remaining general officers
of the company.
The annual report of President Frank
| Thomson for the year ending October
3lst, 1898, showed the following:
Earnings : From freight traffic,
| 81, AIS, 6SS. OF; from passenger traffic,
81, 1875, 27S. So; from express traffic,
$3.50, 46l. II; from transportation of
mails, s368, 1856 10; from miscellaneous
sources, S114, $50. or ;>from rents, S65, :
400. 10; total, $9,60l, 1863 -. Expenses
For maintenance of way and structures,
81, 905, 074. 80; for maintenance of equip
ment, $1,000, 376. Is; for conducting
transportation, "a, 045, s92. 06; for general
expenses, $3.50, $40. IL; total, 81, 100, :
S92. l8; net earnings, 50, 4S0, e71.25.
The gross earnings from the opera
tions of the Philadelphia, Wilmington
& Baltimore railroad and roads con-
trolled by it for the year ending Octo-
Der 3lst, 1893, were 50, COL, 563. 43, and
for the previous year So, FOL, ABS. 4S,
showing an increase in gross earnings
of $50. 1876. %. The expenses for the
same period were 81, 100, S92. 10, and for
the previous year SC, 404, 2O5. TO, show
ing an increase of SI16, 6S7.0S. The net
earnings for the same period were
SO, 4S0. GIL. %. and for tho previous
year 81, 1897, DBL IS, showing an increase
in net earnings of 500, 439.S7.
The net earnings from operation
amounted to $2,4S0, GIL. %, to which
add interest on investments and from
branch and other roads for use of
equipment, S43l, 1926. 80, making the
gross income of Philadelphia, Whining
ton Il Baltimore Railroad Go. and
leased and operated roads 50, Oil, 1888. n
from which deduct interest on bonds,
car trusts, mortgages and ground rents
and general account, rentals, leased
and operated roads, taxes, cost of re-
vision of grades and alignment, sinking
fund appropriations for bonds due
April LIST, 1900, and June LIST, 1910,
advances to Delaware IL Chesapeake
Railway Co., taxes paid account OF
branch roads and sundries, 81, 500,
072. IS, making the net income 81, 1902,
1876. 90; from which deduct dividend
1854, $50. so, and dividend No. 103, of A
TIA; total, 1927, 354. so; deduct amount
transferred to extraordinary expendi-
ture fund for stone ballast, renewal OF
passenger equipment, &C., 300, 900
balance transferred to credit of profit
and loss, $175, 1872. 40; amount to credit
of profit and loss October 3lst, 1897,
s., $50, 225. 43; deduct amount charged
off in reduction of value of securities
and settlement of sundry accounts,
SOL, SIS sc; total, 50, 57s, 7O9. n; balance
to credit of profit and loss October 31st,
1893, 50, 754, 0S2. 26.
| The results for the several properties
were as follows:
Philadelphia, Wilmington & Balti.
moro Railroad Co., main line and
branches - Gross earnings, s4,605,
0T769; operating expenses, 1926,
e35. 81; net earnings 81, 1868, AL. 85; in.
terest on Investments 1886, $50. so; in.
terest on equipment s94, 49s o.; tota
$43l, 128. So, goss income $1,799, 570.37
interest, taxes, &C., se96, S43 SO; net in.
come, 81, 102, 1876 90; dividends, pei
cent, 1927, 354. so; total, s275, 372. ~
transferred to extraordinary expendi
ture fund for stone ballast, renewal oi
passenger equipment, &C., 800, 900
surplus, s175, 372. 40.
Delaware Railroad Co.-Gross earn.
ings, 81, oil, 476. 10; expenses, 1896,
725. 16; net earnings, 1914, T51. 50; re-
ceipts from other sources, s2,7iA 80
gross income, s3l7, 469. 40; interest or
funded debt, S22, 800; interest on equip
ment, 1923. 473. 90; taxes, Sc, 2s3 So; mel
income, $3.50, 230. 16; dividends, 6 pei
cent, per annum, $161, 23a. SO; surplus
$103, 999. &C.
Delaware g. Chesapeake Railway
Gross earnings, S1o5, OILS. 20; expenses
1856, SAT. %; net earnings, $1S, l6S. Oh
interest, 81, 1854 81, deficit, SO, 096. o3.
Queen Anne's & Kent Railroad Co.
Gross earnings, $50, 1888. IL; expenses
$40, 219. IL; deficit in earnings to NEE
expenses, sl1,4e1; interest on equip
; ment, 1,032. 3d. taxes, 81, 1853. 3S; tota
deficit, S14,
Delaware, Maryland & Virginia Rail
road Co. Gross earnings, 1922. Ola. SO
expenses, $3.50, 944. %, net earnings
S;}2, 069. 81; interest on funded debt
s37, 55o; interest :, on % equipment
"a, SAGE; taxes, 50, 1872 80; sidings
J 81, 500; deficit, Sl5, 287. 40
Cambridge d Seaford Railroad Co.
Gross earnings, $50, 40l. OF; expenses
s43, 500. 10; net earnings, Sc, 891. %; in
torest on equipment, 1885, 80; taxes
81, 526. 90; surplus, $4,3Ie. 10.
President Thomson says in his re
port: "The tonnage shows an increase
Of 639,034 tons, mainly in the loca
traffic in both directions, although
there was also decided gain 10 tn,
through tonnage. The passenger
traffic shows fair increase In VOLUME
and about the same net revenue pc
passenger per mile.
There were "A, $40 tons of new stee
rail and Az, 226 ties used in repairs
and renewals. The work of substitu
ting heavier rails for the lighter sec
, lions heretofore in use has been steadil,
prosecuted during tho past year, ant
; will account for the increase il
! amount of steel laid as compared will
i 1897. -