Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1901-03-29

uO0l0mtlal 1nCECuoS
The stockholders of the Pittsburg.
Wheeling & Kentucky Railroad Com
pany held a meeting at the principal
office, in this city, yesterday. There
were 1868 shares of stock represented,
and the following directors were cho-
sen Tor 1901: William P. Hubbard,
James McCrea, J. T. Brooks, Joseph
Wood, Daniel c. List. Sr., and Joseph
Speidel. The report Of President Hub
bard showed a very gratifying condi-
ton of affairs. There was a substan-
tial increase in the betterment of the
road, and Notwithstanding this Elk
pense. the net earnings also increased
In comparison with 1899, which was
the best previous year in the history
Of the road. The year 1900 was the
banner year for the company.
Following is the report OF the presl-
dent:
WHEELING, w. Va, March Is, 1901.
To the Stockholders of the Pittsburg,
Wheeling & Kentucky Railway Com
The board of directors herewith submits
the annual report of the directors OF your
road, under the lease to the Pittsourg,
Cincinnati, Chicago & ST. LOUIS Railway
Company. for the year ending December
81. 1900, and of the financial condition OF
your company at that date:
Gross earnings ........$ 357. 490 70
Operating. expenses -. 2A,s9l s4-Sll2, 4Ss q
Balance. Dec. 81, S99.............. 32,7os "a
xTota, .sl45, 1876 So
Payments on lease:
August "a, $4,000
December T.. 3o,0o-s130,00 0
Balance due from lessees.......S IA, 49S ID
NET EARNINGS.
Net earnings ..$llZ,f S ~
Deduct these payments:
II mo. int. LIST mort. is. .$S,5l6 60
u mo. int. consol U.s.. 1870 10
Sinking fund LIST mort
s, gage = ,nd conaoi * s s'oSS %
Sinking fun expense. 4S0 72-$ 81 ,S6i oS
Surplus for O............... S1,5n Al
A of the financial operations of
the company is as follows.
RESOURCES.
Cash with Pennsylvania Com
pany December 81, 1899. $500. .$lbl ,Vi3 "
Gross earnings, 1900. 1851, 40 q
Less operating exp. z44,S9l 94-
Net earnings ..$ll2,4 3S ~
kteCelVeQ ACCOUNT iCl SdIilihSo
Sinking fund Observation-Disclosures. 35 II
Total 1921, 500 Oh
DISPOSITION OF RESOURCES.
Interest on bonds.:......s1S, 3S6 C.
Epx., sinking fund.-. 40 ~
Dividends Nos. "a to ST.. 60,l50 w
Par value 5 LIST mort -
gage bonds retired.... 5000 90
Par value 5 consol mort.
bonds retired ......... 5,UV0 w
Reduction in interest. IS "a
Real estate purchased. 6S9 5o
Total appropriated. :. .s92,Sl0 Y
Cash with Penna. Co.
Dec. 81, 1850 ......... S1SS, 1893 S2-
Total accounted S291, 500 o.
The general balance sheet and the in
come account are submitted herewith IN
brief, showing, in brief, the result OF the
years operations, and the financial status
of your company at its close.
The earnings and expenses for the year
1900, under the different heals OF accounts,
compared with those for tire year. 1883,
will be seen by statements furnished here
with.
In addition to the foregoing, tables of
statistics are herewith submitted relating
to the business of the year 1900, as COM
pared with 1899. as follows:
Tonnage, ton mileage, revenue earnings
per ton mile and average haul per ton.
Classified tonnage.
Passengers, passenger mileage. revenue,
~
erage trip per passenger.
Mileage of trains, earnings. expenses
and net earnings per mile by trains; mile
age of cars, average number OF freight
cars per train, and average number OF
passenger, baggage and express cars per
train.
your line prosperous in 1899, continued to
operate for its benefit in the year just
closed, and the results of the latter years
business are sven better than those of 1893.
The GROSS earnings for the wear ended
December 81, 1860, were 1857 ,430 rs, or $l2,-
747.17 per mile of road. This was an in
crease of sSs,7@.4l, or 12.S per cent oyer
1888. The expenses of operation including
the items formerly reported as hire OF
equipment were S244, 991 80, an increase of
81 ,140 IS, or 12.46 per cent. over those for
1889. The net earnings therefore increaS-
ed $27 ,140 50, or 12.S per cent. over those
for 1899, and amounted in 1909 to SIP, 43S 10.
Tons of freight, 1900, 1893, 453; number of
tons carried one mile, "a, 162 ,299; revenue
from same, $222, $50 10.
Passengers carried in 1900, 231 534; carried
one mile, 4,316, 1856; revenue from same,
SIP, 200. AZ.
There was but a slight increase, 39,157
tons, or 3.26 per cent. over the tonnage for
1899, the tonnage in 1900 being 1,2S9, 45S. The
percentage OF increase IN revenue was
icrease being Sic, 4S0 50, from s2O6, 1879 80 in
1899. to S222, $50. 10 in 1900.
While the total tonnage changed but
slightly, the classihcation of it shows
considerable changes in some items, as
follows: A falling off of 1886 tons in
coke; 1859 tons in pig iron; II, 039 tons in
castings and machinery, and 1854 tons in
bar and sheet metal, being more than
made good by a gain of 19, $40 tons in coal;
Al, 1872 tons in ores and 1855 tons in lum-
Der.
The passenger traffic, in which there
was a marked increase in 1899, shows a
further considerable increase in volume in
1900. The whole number carried was ISL
534. an increase of 44.113, or 1854 per cent.
over 1899, and there was a like gain in the
mileage. The revenue from passengers in
creases from ss9, Slab to SIP, 200. AZ, being
81. $50. 10, or A.92 per cent.
The operating expenses were s244, 991 "a,
an increase of s7 ,140. IS, or 12.4 per cent.
over 1899. This increase is for the most
part accounted for by the increase in ex-
penditures on bridges and culverts, $2l.-
637.S7 Chiefly for building a stone arch
over Boggs Run, on the Benwood extern
sion), and on interlocking plants, s3,3l0.S7
Chiefly for erection of now interlocking
plant at Wheeling Junction..
The ratio of operating expenses remains
about the same. being 6S.54 per cent. in
1900, as against 6S.5S in 1899.
The trustees, under each of the two
mortgages made by the company, have
furnished transcripts of their respective
accounts, and of the registry of the num-
bers of the bonds purchased with the