The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1904-01-03
Increased Thirty-five Over
Previous Year.
FEWER WERE INJURED
Railroads Earned Six and Halt
Million Dollars Net---Banks---
Building and Loan AS
SOciationS---0ther
Business.
Business.

The report of the Corporation Com
mission is tied up in the hands of the
State Printer the same as the Tax Con-
mission report. The clerk of the commits
sion says for ten years past it has al
ways been issued promptly the first OF
January, but this year the printer has
not even begun the printing, although he
has had the copy for several months.
The report as heretofore is Interesting
and contains valuable information.
The commissioners in their report to
the Governor says:
Raleigh, N. c., Dec. 81, 1903.
Governor Charles B. Aycock, Raleigh.
N. C.
"Sir:-We hand you herewith our re
port for the year 1903 being the fifth
annual report of the North Carolina Cor
poration Commission.
RAILROADS.
During the fiscal year ending June 30
| 1903, 6893 miles of railroad were con
structed and put in operation in the
State and there was total at the end OF
that year of 3,750SS miles of railroad IN
operation. The net earnings OF railroads
within the State were greater for the
| last fiscal year than they had ever been.
| Gross earnings amounted to 1860, S15.39,
| operating expenses S12,136, 97752. The
| number of employees OF railroads within
the State for the year were 1862, against
II ,401 for the previous year. We regret
| to say that there was considerable In
crease in casualties also. These reports
| show that 121 were killed and 1,657 We're
| injured against the report Tor the pre-
vious year of 81 killed and ,068 injured.
OF the killed these reports show that D
were passengers, 43 were employees and 81
were trespassers and IL not trespassers
OF the injured 176 were passengers, 81
were employees, and 131 were trespasscrs
| and SO not trespassers. The total num-
Der of passengers carried during the year
was 4,442,794-
WORK OF THE COMMISSION.
There were 3S9 complaints made to
the commission during the year 1903,
against the railroad companies The great
er part of these were settled by CORE.
spondence satisfactorily to all parties
In some of the cases hearings were
and orders made. These orders were
obeyed in all cases except one, namely.
il the case of the Greensboro Ice and
| Coal Company against the Southern Rail
way. In this case there was an appeal
which will be sent to the Superior court
OF Guilford county for trial.
''For the convenience of parties the
commission held sessions at Durham, Char
lotte, Greensboro and Hickory during the
year. Under powers conferred by laws
passed by the General Assembly in 1903
the commission promulgated rules regu.
lating demurrage and storage charges,
which. it is hoped, will relieve complaints
for failure to furnish cars and failure to
deliver freights and prevent excessive
charges for storage
"The most important work of the ccm-
mission was the assessment of railroad,
street railway, telegraph, express and
telephone companies, electric light and
power companies, water companies, etc
The result of this work was an increase
over former assessments Of railroad prom
eIty of $26773,7 1877. The total assessed
value of all railroad property in the State
is s69, 4O1 ,O5S00. The total assessed val e
of all properties assessed by this COM
mission amounted to $73,784 Csc.
BANKS.
''There are now 155 banks in this State
against 12O at date of our last report,
and 65 at the date of our report for 1899,
the wear in which the supervision OF
banks was conferred upon this commits
SIGN The total resources OF banks in
1899 were s11, 275 400; in 1902, $22,341, AIS,
and according to reports of banks at the
close of business on November 18th, 1903,
which reports are summarized in this
report. the total resources were $26, 168,
282. The reports of the banks will not
be inserted III full in this volume as in
cur former reports, for the reason that
they have already been published sepa-
rately and distributed to persons entitled
thereto. A list of the banks IN the State.
giving name, location, names OF Off
GERS, capital stock, when chartered, when
organized and opened for business, will be
found in this report.
''Mr. John o. Ellington, of Johnston
county. was elected Bank Examiner, and
entered upon the discharge of his duties
as such on the first day of June. 1903.
After an experience of few months,
it was apparent that Mr. Ellington could
not discharge all of the duties. and Mr..
county, was elected assistant, and en-
tered upon his duties on November LIST,
1908
There were two failures during the
year.-the Merchants and Farmers Bank,
Oh New Bern, and the Pilot Mountain
Bank and Trust Company at Pilot Noun
J tain. Both of these failures were attribu-
table to the dishonesty of cashiers. the
creditors of the former have been pad
in full. as we are informed, and the
creditors of the latter will be pad in full
according to our information, AS soon
as the insolvency of these banks was
discovered the Bank Examiner was direct
ed by the commission to take possessic On
of the assets and hold the same until
| receiver could be appointed, and this was
done in each instance.
BUILDING AND LOAN ASSOCIATIONS.
'The building and loan associations are
all State organizations and are IN
prosperous condition and serving very