Virginian-pilot. (Norfolk, Va.) 1898-1911, 1900-08-08

Questioned further on the subject,
MIR. Wool admittd that the company
had been in correspondence with MIR.
f.. F. Finch with view to securing
the privilege of landing at the new pier
the banker is building at the foot of
Ihirtieth street. Newport News. No
deal has been closed. however. and ne
gotiations arc far from completed.
The location of the pier seemed to
please Mr.. Wool. and there is a proba-
bility that it will be secured.
When this line is completed, COM
plete belt line will fiave been formed
making sort of elipse. with Norfolk
as one focus and Newport News as the
other. Hampton. Phoebus, Pig Point
Bclleville, Churchland, West Norfolk
Port Norfolk, Old Point and Ocean
View, being points on the permeter
with three ferries and four electric
lines forming 1t. The elipse would be
about thirty miles around.
NEW SEABOARD SECURITIES.
The distribution of the new securities
of the Seaboard Air Line Railway Com
pany on account of the loan certificates
has commenced. The stocks given as
bonus, and the new notes with cou-
pons attached which are to replace the
old loan certificates. We're issued
through the Continental Trust Com
pany. The interest on the old certifi-
Gates from the date OF issue up to May
1st, when the new noes began to bear
interest, will be adjusted in cash.
There are three coupons attached 70
the new notes. payable semi-annually
on May LIST and November LIST The
first coupon will be payable November
lst next, and the last on November /.
1901. The Seabuard Air Line Railway
Company, however. reserves the right
TO pay off the loan at any time before
maturity upon sixty days notice of
such intention There will be a total
of 1900 shares of preferred stock. and
$1,000 shares of common stock. and $50
new notes. issued on account of the
loan for S3.400.000. and it is expected
that 1t will require about n week to
complete the work. Two forms of GER
titcates are being issued. One is for
100 shares of either preferred or COM
mon and the other for less than 100
shares. No certificate for more than
100 shares will be issued. Certificate
No. l was reserved for Mr.. John Skel-
ton Williams. president of the Sea-
board Air Line Railway Company, the
originator of the new system. Mr. Will
liams arrived in Baltimore this morn
ing, and Immediately notified the Con-
tinental Trust Company to issue the
certificate reserved for himself in the
name of his 3-year- old son. John Skel-
ton Williams, Jr. 1t is for 100 shares
and will be held by the father until
the son becomes of age. Certificate No.
was in the name of Messrs. Mac
kubbin Goodrich & Co., and they were
the first to receive the new stock The
Continental Trust Company expects to
s'r-ss5ir1-the delivery of the securities.
on account of the Underwriting allot-
ments the latter part of this week
The following statement of Norfolk
and Western earnings has been issued:
Fourth week in July ..........S 269, 256
same period last year .......... 3O5 els
Increase 636Il
Total for the month to date. 1.l50. 106
Same month last year ... 9SS go
Increase ......................$ 1G1. $50
CHARLOTTE BEING REPAINTED.
The Chesapeake Lines steamer Char
lottc is being overhauled and repalntcd
ut the works of the Newport News
Ship- building and Dry-dock Company
She will have new boilers. will have the
engines cleaned and adjusted and will
have new carpets installed 1t is ex-
pected that the repairs will be COM
p!eted October l. The Danville is run
ming on the Richmond Line in her
place.
A REMARKABLE INCREASE.
The statement OF earnings of the
Chesapeake and Ohio railway for the
year ending June goth has just been
issued. showing 4 remarkable increase
over last year.
The statement is as follows: Gross
earnings, 1900. sl3, 402, o70.29; 1899. S12,-
900. S39.15.
Increase. 81 992 23l12.
Less expenses and taxes, 1900, S9,0S7,-
633.0s: 1899, SS.077, 3S4.01
Increase. s1010, 25467.
Net earnings, 1900. s4314, 43l.59; 1899.
So 932. 1914.
Increase. 1881 ,976.45.
The following comparative statement
of earnings for June was issued yester-
day: Gross earnings. 1900. Sl.273, 06l.5s;
1899. s10S5, 1920; increase. $lS7. 0S6.3S
Less expenses and taxes. 1900. $685.
21s13 1899, $500, SIPS; increase. si64.-
39oS5. Net earnings. 1900. S4l4.943.45;
1899. 1892, 1872 increase. 500, 69553.
The annual meeting of the stock
holders of the Chesapeake and Ohio will
be held soon, probably early in Sep
TENDER. 1t is believed that a dividend
of at least l per cent. will be ordered
The road is spending n great deal on
Improvement of the physical properties
and building branch lines, which make
the showing of the above statements all
the more fiattering.
SOUTHERN RAILROAD EARNINGS.
Commenting upon the railroad earn
ings in the South recently the New
York Tribune has the following:
Railroads in the South and South
west continue to return enQrmQua