The times. [volume] (Richmond, Va.) 1890-1903, 1900-11-13
LATEST NEWS OF
THE RAILROADS
Promotions and Slight shake-up On
Southern.
stPENNsy' OFFICIALS TO SEE.
Inspection Par,,. Headed by President
Cassatt, to go Over c. s o. aud C.
&w. Propcriics-o Other Mat
tiers OF Interest.
stpENNsYp OFFICIALS TO SEE.

THE promotion of Mr.. c. A. Wickers-
hau from the superinteadency OF the Ala
bsuaa Great Southern TO the presidency
nf tho Atlanta West Point and Western
GnifHay. OF Alabama, has caused many
promotions and a small sized shake-np
Ennc,ipe November 18th, General Mana-
ger Frank S. Cannon announces the fol-
suw.Ig appointments:
Mr.. A. j. Frazer, now superintendent
Birmingham Division of the Southern Rail-
nyar. Becomes superintendent Of the Ala
e1azna Great Southern, with headquarters
at Birmingham
Mr. c. s. Hayden. now superintendent
Admission Division Of the Southern, with
headquarters at Selma, succeeds Dit.
Frazer.
Mr. n. * Foreacre. now master OF
trains Atlanta Division OF the Southern,
succeeds Mr.. Hayden.
ar. c. c. Hodges. now chief dispatcher
Of the Southern at Atlanta, succeeds NJ
Foreacre.
THE SoUTHERN'S EARNINGS.
The Daily Stakeholder CSew Yo,i0 IN
speaking of the Southern Railway says:
IF there exists any doubt as TO the
continued ability OF the Southern Rail-
ways territory to furnish that system
with traffic ard earnings, current reports
may BE relied UPON TO dissipade il The
October exhibit of gross Is a noteworthy
one not alone for the gain Of Ss'5.19
shown, but because there was very large
total to compare with. that month IN 1893
having seen good for an increase of $3.50. fi;G
Then looking at results for the 70 II months
OF the new fiscal year. il is seffl that .f.s'
this period there has been a gain Of Sl2S.-
GO IN the gross total Following no less a
gain than si.1e6lSs a year ago The Cur
rent expansion. equal TO about per cent,
IS PANTY due to more mileage operated,
olt only partly. as in this direction the
increase is not 2 L. per cent, and the
significant cart is that the large increment
to earnings In the late year came about
when increased mileage Was no factor at
all It Is important. too. TO bear this an
SDtnd n considering the course OF net earn
inss. Lest year they showed a gain of
600 for the September quarter. and
R1ds level has been maintained and slight
ay improved Upon by a further gain of
ss4.s4A
The latter IS, Of course, a small benefit
70 arise frnu1 nearly S5a0. 900 added 70 gross
earnings Il that period. and may be taken
to reflect the tendency of expenses 20
mount up Under the influence of heavier
prices for materials and supplies. At The
same time the fact must not be overlooked
that n the fiscal year 1900 the company
earned nearly three million dollars for its
stock. and paid out only s1,Soo.H3A, and
1dSS expenses navy
been on a high level. Increasing In thai
period 1917 per cent. for road and l4.31 for
equipment, while revenues increased 12,eo
per cent. The company puts out 40 per
cent. of its Erpss receipts in operating and
clearly could have saved -nore than it did
TO profits. but the policy Of property i'm
propements oi7t of earnings IS one which
is being carefully carried out, and its Ill
innate effects can only be such as are Of
a gratifying mature to security holders.
The equity of owners IS being constantly
increased. We look for this to be recoE-
nized In the quotations for the preferred
stock. which SHOULD sell nearer 20 than 60.
In order to register Is full value. The
common for q long pull. should be ho-sht
with confidence around current figures.
PENNSYLVANIA OFFICIALS.
The Pennsylvania Railroad officials.
headed by President A. J. Cassatt yester-
day started from Philadelphia on tour
OF inspection over the Norfolk and West
ern and Chesapeake and Ohio Railroads.
In which the Pennsylvania Railroad Com
paay recently acquired a controlling in
terest The offisaa will travel in a spe-
c3al train over the Norfolk and Western
Railway TO Columbus. over the Pan-Han-
die TO Cincinnati. thence to Charleston,
w. Va. and Richmond by way of the
Chesapeake and Ohio Railroad. The trip