The Fairmont West Virginian. (Fairmont, W. Va.) 1904-1914, 1905-08-14
B. And c.
RAILROAD


Wi lungs ffoH operation, tHey aver
aged nearly sixty per cent. in excess
Of the annual average charge to CAPT.
tal. while the average of net income
equalled the capital increase, and the
surplus was equivalent TO nearly TWEEN
" per cent. Of the latter after pay
nient OF all charges. dividends and ap-
preparations from earnings for better
ments. equipment. etc,
Taking the period embracing the
six years preceding 1893, viz: 1893
1898, inclusive. for comparison with
the period comprising the correspond.
ing number OF years from 1898 to 1904
inclusive. the average annual earnings
the latter period were forty-four per
cent. per mile greater than those of
the former period, the increase ex-
seeding the average annual charge
per mile to capital by thirty-six per
Cent. The increase OF net earnings
was equal to sixty-three per cent. Of
The charge 10 capital for construction,
betterments and equipment. In other
words. the expenditures were being
fveeighths reimbursed through an
auemented net revenue from operation
as the improvements progressed.
Other millions fourteen and half
viii be paid out as rapidly as the two
hundred and fifty engines and ten
thousand freight cars recently ordered
can be delivered.
Il would appear that hundred and
twenty-five to thirty millions of dol.
iars, disbursed within decade upon
track, motive power and rolling stock,
ought to put the road in pretty fair
shape for business. 1t will. But,
when the contemplation of the i'm.
mensity OF the figures impresses that
It costs heap of money to do rail.
road business nowadays, the fact
should be borne in mind that the b.
and Q. had everything to get. 1t
was a case OF being born again, sure
enough The making of railroad in
fact as in name. And most inter
asting feature in such connection as
has been shown, is, that the system
is paying for II as the process goes
on.
To have doubled the volume of ton.
mage in the nine years since 1896,
three of them enveloped in the doubt
and distrust sequencing defaulted
credit. stands as revelation OF the
Importance Of the B. and o.'s geo.
graphical position and is most signifi.
emily illustrative Of the possibilities
whml men and method measure up to
them. II is doubtful if record
matching it in interesting and express
siye aspects. can be found.
An Mobilization inaugurated with a
receivership was as much of a sur.
prise, in railway as In circles gener.
ally, The position, that business came
through facilities to handle 1t. and not
Wy favor or sentiment for individuals,
egmmanded interest in the way 1t was
proposed to prove it with a system
seif-confessedly so meagrely constitu.
ted as to be unable 10 stand alone
The further ayowal, that there was
ample business for all and no neces.
sity for the expensive practices that
hut hecnrne the rule on part of com.
petins cnnzsaufes, was taken with due
zhuwance for the wish being father
TO thesthought, but it is beyond denial
tha1 t'eyidenced prescience, some.
What remarkable in the light of subse.
qnent developments.
The Millions of receiver certificates
issued at the starting in to provide
befterments and equipment, demon.
strated Murray's faith in the business
which would Offer and, relatively.
the B. and o. was in better form to
meet the tremendous rush when it did
come than other systems where there
were no such serious handicaps to
contend against, in preparing for it.
Bringing the freight figures to the
mileage plane. the average earnings
ADVANCED beyond seventy-ive per
: - ~ ei llhoSe VI 10, exceeding
twelve thousand per mile in 1904.
This for the entire system, the lean,
AZ, also. the fat lines, punching them
al together; mindful of the relative
bearing each has upon the other, now
and as to future development. While
fhe tonnage of freight as whole was
doubled forty-three and a quarter
million tons to twenty-nine and three
quarter million tons, the total reve-
nue. as Q whole, from freight in 1904
was two and third times that of 1896
forty-eight and half millions TO
twenty and three-quarter millions.
On the face of it the deduction
would naturally be that rates were
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