Virginian-pilot. (Norfolk, Va.) 1898-1911, 1900-10-21

has been fully narallelel in the states
south OF the Ohio and Potomac rivers.
although In the latter section progress
has been hampercd by the several and
singular circumstances, political and
otherwise. peculiar to the Southern
states. That they have rrospeyed.
however, In spite OF them IL remark
able. and II is highly gratifying to
those who have their capital invested
Ia the securities OF that section.
AS Is generally known. the Southern
Railway Company is the successor cor
roration To the large system OF lines
covered by tie old Richmond Terminal
Company. After several nbortive at
tcmpts. a reorganization OF the older
company was successfully undertaken
i'll 1894. and this years statement is
the sixth annual report made by the
Southern Hallway Company. As In the
instance OF the companies considered
last week the reorganization plan in
NolVed assessments upon the old out
standing shares and Il rigid scaling of
the old bonds Of questionable standing.
AS regards the general development of
The Southern hallway system, there
may be noted an increase in the num-
Der of average miles operated OF from
4, 1873 in 1894 to G306 in 1900. Gross earn
ings have in the same time. increased
from $4,000 coo to $3l 200. 900. and net
income from operations has risen from
si,29. .000 to S9.3S9, 900. The unfavorable
circumstances under which the road
was operated in its early history and
which it shared. indeed, with the
country's railways Mt large. left only
trlning surplusses applicable to the
stock after providing for fixed charges,
rentals and other expenses. The de-
Velopment OF this company. however,
since 1897. has been particularly strik-
ing. In that year surplus applicable
to the stock OF $il5.000 was shown. In
~ .I,.- 10, ~
to 1904 600. and in the ended fiscal
year the surplus applicable 10 the pre-
fcrred stock amounted to $2.9l7.0G0.
which is equal to only II little less than
the full per cent. to which the stock
is entitled. The report of the company
contains many interesting remarks
bearing upon the astonishing develop
ment of the manufacturing industries
OF the South along the comnany's lines.
among which there may be noted ain
Increase in the past year in the capac-
ity Of the active cotton mills tributary
to the company's lines of 1891 looms
and 50I,110 spinC les. the additional cap
ital invested in this respect alone
amounting 81 about $12. 800 900. Hun
dreds of othe miscellaneous Industries
We're established. and the report directs
attention towards what may reasona-
bly, be expected in the development of
Southern industries by reason of the
higher price OF cotton.
The Southern Railway Company has
determined to place eighteen OF the To-
comotives completed by the Richmond
Locomotive Works in service on It's
Birmingham division. and is now de-
livering them.
The branch OF the Norfolk and West
ern Railroad that shortens this line in
the New River Valley has been COM
pleted and is now in operation. 1t is
eight miles in length. and by its use
several heavy grades are avoided The
cost Of its construction was about sl00.
000
A locomotive built at the Richmond
Locomotive Works recently made a run
on the New Orleans and Northeastern
Railroad between Meridian and I.um-
berton, Miss. distance OF 1I3 miles
in ninety-seven minutes. including
stops. The locomotive hauled one car
The entire Seaboard Air Line is to be
ballasted with rock from the great
stone crushing plant situated near
Roanoke river in the gray stone quarry
region. The good results obtained by