The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1906-11-14
RATE HEARING IS
AGAIN TO FRONT
Assistant Comptroller of B. and
O. Testihes AT Great
Length.
GEN. FREIGHT AGENT NEXT
Good Progress Being Made, and
End Seems Now in
Sight,

Resuming tho hearing on the famous
uniform freight rate matter yesterday tho
Corporation Commission called the Bait
more and Ohio Road. and Assistant
Comptroller c. ". Booth occupied the
stand all day.
Hon. 4 &. BraNton completed his
cIoss-eNamination Of captain Booth on
behalf of the State before adjournment.
and General Freight Agent T. w. Gala
her VIII be the first witness this morning
Messrs. John G. Wilson and Rudolph
Bumgardner appeared for the company.
and Mr.. Braxton for the state. Attorney
General Anderson oeing detained IN the
supreme Court. and FOR that reason
unable TO be with his colleague. the
stanton lawyer.
Captain Booth made brief preliminary
statement concerning the history of his
read AT the suggestion or his counsel. and
then he was questioned al length concern
ing IFS financial condition and operations.
iie testified that the Valley Railroad.
which is a branch OF the Baltimore ana
Ohio. had never paid dividend. and
tAat the controlling company would toe
glad TO dispose Of its interest therein.
A Full History.
what is the capital stock OF this Val
ley Railroad2" MT. Wilson asked.
I'm round numbers. $3.50. 900"
How is this divided?"
1.-THE Baltimore and Ohio Railroad Com
pany took about I.70o.1p Baltimore city
took $1,000 00o-for both Of which cash was
paid The remaining shares are held
by some eighty-seven private parties"
"As TO the mortgage2'
This was made I'm 1881 70 vuD rortr.
years The authorized issue was 81 .ooo.oOD
but only $4,000 was actually issued. an
thls being taken bv the Baltimore ana
OHIO for which S6Sl. 900 was paid in cash
This shows total OF $40 90 IN cash
put into the road. speaking in round
numbers The property IS valued at about
|."o'"1, plus. &.W2,s7s IN rolling stock"
HAS the road ever declared a divi-
dend?"
ut has not"
Has It met its bond obuEatons?"
nave ahe operating expenses ever ex-
ceoded the income?'
Yes; this has been clre case three out
OF eight years during which I have been
connected with the road
What were tile earnings ana er,e,sos
Of the road for the year 1852"
Gross earnings. Sl5s1n r.: expenses.
Sl-''a''i' net 1~-nines $34.aI0.79. showing
a percentage Of IS 3-1O''
For the State.
THIS about completed t1e examination
IN chief of the railroad official. and Mr.
braNton took him IN hand and held him
Until tho hour OF adjournment
The attorney FOR the state called for tho
annual reports % the Valley Railroad Cor
Tho past ten years. but witness said no
could not produce all OF them. as many 81
Tho records had been destroyed In the Bal
uuore fire.
Mr- braNton cross-eNamined him close
iF on ali the points brought out by the
attorneys for tho road. and sometimes his
questions were Of q most searching ma
ture.
The commission IS making fine progress
vvitIf the examination now. and two long
sessions are being hold each day.
Several more r0ads are to be examine.
ana most az those that have had witnesses
on have others On examine. but II Is ex-
pected that aN the testimony will be IN
hy Christmas