Daily press. [volume] (Newport News, Va.) 1896-current, 1899-08-13
GRATIFYING INCREASE,
Chesapeake and Ohio Earnings for the
Fiscal Year.

FISCAL Year.
The net earnings Of the Chesapeake
Z Ohio railroad for the year ending
lure 30th. Showed an Increase of more
han 100000 over those for the year
ending June 80, 1885.
According to the official reports the
gross receipts of the road for the past
iear We're $12009. 500.
The net earnings We're s3,932,445
The increase in net earnings over the
preceding year was S126,9G5.
This is 4 highly gratifying report and
he officials of the popular Chesapeake
Ohio are proud of the showing for
he year. They confidently expect
however. that the present year will
snow even greater increase in re-
'eipts and net earnings
F. FIRST CLASS FREIGH HIT RATES.
Eastern and Western railroad men
sre puzzled to understand the action OF
he Grand Trunk in entering into an
arrangement With the Burlington ana
Maine steamship line, by which rate
II eighty cents per 100 pounds on first
lass freight from New York to Kansas
Iity has been established.
The only eNplana tion seems to be that
t is designed TO meet the cut maintain
ID tor some time between these points
" the Mallory and Morgan lines. in
connection with the Kansas City, Pitts
)urg 4 Gulf. owing to the latter insist
lis lI'oli y ciileIeHlltl W4lTcn (ne AL
antlc FORT lines have refused TO grant.
At Chicago on "Wednesday executive
!: ,illcers labored all day to effect set
lement of the difficulty, but without
making any Roadway
One Of the propositions Which failed
Il adoption at Chicago was to meet The
ut rates Via Newport News. Norfolk
md Savannah to Texas points. thus
invading the richest territory of the Of
ending steamship lines. This plan was
mpioycd successfully several wears AGO
md soon brought them to time Tho
,'hesape;lke & Ohio was then the club
mar was used to drive them 10 the
vail. In the present instance the sit
ration is altogether different. Presi-
lent ingalls,. of the Chesapeake 4 Oh!o
+ las refused from the first TO mix IN
in this fight. In this he has kent in
inc with Trunk Line Associa ton roads
n their determination to ignore the
! competition rather than disturb the
:estbound rate situation, which has
'een kept so firm all through the pres
mt year. The Burlington's move. now
Yer, may upset all the plans and cal
,ulations in that direction, and esp.-
tally as it is admitted that q prolonga-
: ion Of the issue With the. steamship
mes and the Pee Gee makes a ruinous
(, ate war inevitable.
MIR. STEVENS RESIGNATION.
Yesterdays Richmond Dispatch says:
TIE report thut General Manager
George ". Stevens, or the C,lesaDaak.
Ohio railway, IS to be tenderel the
position OF first vice president ana gen
lal manager of the New York, New
iaven & Hartford, is revived.
y telegram from New Haven states
that MIR. Stevens will be rendered the
'osition at aNsalary of $685. 900 per an
luln. The salary OF his presen mt posi-
Ion is $4,000. Whether Mr.. Stevens
;-lll accept, or whether he has been ten
Tered the place with the Northern road.
anEot be certainly stated, as he is in
Incinnati.
The story is believed in railroad cir
les. IT is believed Mr. Stevens will ac-
cept. There is-already talk of as to his
rot1olc successor. Were it left to the
iotes OF the Chesapeake & Ohio officials
md employees OF this city, Genera
superintendent Doyle would become
General manager in case of the resi5na-
ZION OF Mr. Stevens. 1t is reported
that President Ingalls, Will appoint
General Manager G. T. tSchan, Of th:.
Big -Four, TO the position. and that MIR.
J. .. Van Wrinkle. general .supcr!ntend-
eEt Of the Big -Four, will become its gen
er2l manager. It is also reported tina.
MI. Ingalls, is DESTROYS &C seeing MS
sen the general manager of railroad