The times. [volume] (Richmond, Va.) 1890-1903, 1899-08-17
THE C. & 0.
\ Splendid Showing Made in the An
nuai Report.

\ Splendid Showing Made in the An
nual Report.
The New York Commercial Of yesterday
says.
President ingalls,. Of the Chesapeake
and Ohio has reason 90 bee proud of the
splendid showing made I'm the report OF
the company for the fiscal year ended
June 90
one conspicuous feature relates h the
unequalled Increase I'm the train load, as
compared with che records Ci 0tuer roads,
SO Tar as they have been reported. From
80 toms ga IN9l * has steadily grown unNl
for the period covered by this TeaDTt il
was 90 tons. For the fiscal y,ar ended
I'm 1895 the New YORK central sepOrcl an
average train load OF 2g9 tons the Erie
300 the Lake Shore 352, the Great North
ern 3l6. the Baltimore and Ohio 81 and
the Norfolk and Western 35j.
The average rate obtained on freiCht
again declined. and now is only 1862 mills
per ton per mile. This road rs aDle 90
show a profit in moving freight 40 5-S
mills per ton per mile and 0u coal car
ried TO the seaboard it got only -2l mills
per ton mile
The improvement in earnings -frorgeiy
did not come from the freight depu tmcht
where the heaviest revenues are supposed
10 be realized but from the passenger de-
partment whose receipts showed an IN
crease Of Si6l19S, while those from freight
fell on 500 30
All expenditures for additions and bet
terments have been included ln the Oper-
ating expenses, and yet the company car
ries. after an charges have been made.
the comfortable balance of Sl03.l0. lt is
10 years since the present management
issued an annual report I'm that time
the mileage has increased from sh 90
iiH miles. the double track from eight
10 9S miles. the siding from 92 10 49,
miles. and the equipment from 2ll loco
motives 10 1856. from l39 passenger cars
t. 2l3 and from 990 freight cars 10
1902 The gross earnings have Increased
from $4,000 20 $1,000 3s9 the net earn
ings from S102j.00O 90 1892. i5. I'm the
SAME time the fixed charges have in
creased from $4,000 10 $3la5ol-5. The
capital stock however has been reduced
from 81 10000 10 $5o,j3Gf0o
The comparative statement Of the out
put and distribution of coal and coke
shows n total of 4 40S 100 gross tons mined
Tor lss9. as compared with ff54.190 the
year previous. the loss in tonnage being
almost entirely explained oy the lesser
amount OF fuel used by the company
The company advanced SiS66aJ5 for
the purchase of bonds. which. under the
contract were cancelled and the further
sum of $2f49H for loss IN business. the
total being deducted from the gross earn
ings The floating assets OF a. company
are in excess of It's floating liabilities. and
as Of July it had no loans or bills pay
able. and its current accounts in bank
were s95S4i0 in addition TO Si313 f-s
construction purposes.
the board recommends the construction
O. a line in West Virginia % open ~
the territory tributary to the Greenbriar
River Such cc-tructiOn can be most
readily done by = separate company. the
Greenbriar Railway Co. OF which the
capital stock in owned by the Chesapeake
and Ohio. and. ia the opinion 90 the
board. the necessary means can best be
provided by a separate issue by the Ches-
apoake and Ohio Of not more than &c..
10000 per cent. gold bonds 20 be Sc
cured by a first mortgage on the Green
briar 4 special meeting Of the Chcsa-
peake and ohio stockholders has been
called TO take action.