The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1907-11-20
DIRECTORS ORDER
DELAY IN DIVIDEND
Atlantic Coast Line Stockholders
Approve Action, Owing to \
Money Conditions.
55 .-.---.-.--.-- ---- 4 n n
LOW RATE HURTS REVENUE.
More Than One Million Paid Out.
in Year for Extra and
Increased Wages.

~ 7N2 r. f. d ! r IT. r. s It
Because Of the unsettled financial
situation, directors OF 6the Atlantic
Coast Line Railroad Company notified
the stockholders, In session here yes
terday that the question OF dividend
payments would be deferred until De-
cember, at which, time special meet
ing will be held in New York. The
company heretofore has been paying 6
per cent. per annum, and notwithstand-
ing tile unfavorable conditions which
have affected railroads, the report. Of
President Emerson made gratifying
record, the company being without any
rectorss was reelected. with the ex-
ception Of w. w. Mackall, OF Savan-
nah, who was named to fill the va
cancy caused by the death OF Colonel
j. II. Estill. Of that city.
Same Officers NEGLECTED..
The Stockholders meeting was
an hour earlier. at the conclusion OF
the conference the announcement be-
ing made as to the dividend. Officials
Of the company WHO came to Richmond
points q., let the city a i ?: IN N; for or
Wilmington. N. c., was reelected
president, Alexander Hamilton, Of Pc e.
rst G vcs
mlngton. third vice president. The
board of directors Is composed Of the
following: Henry Walters. of ,Balti-
Waldo Newcomer, Baltimore: Warren
Delano. Jr., New York; NJ. +. Plant,
New York; Fred w. Scott. Richmond:
Alexander Hamilton, Petersburg; L.
3. Borden. Goldsboro: Donald McRae.
Wilmington. N. CT; H. B. short. North
j. J.. Lucas, South Carolina,
and w. w. Mackall. Savannah.
Two-Cent Law Harmful.
President Emerson called attention In
his report to the fact that the Atlantic
s as n rates n rss
he added. I'VE believe them
to be confiscatory, and their Legality
is being tested in the courts. IN the
meantime the company is. suffering
irreparable loss, pending final dec1s-
ion.'
TO the stockholders Chairman Wal,
ters, of the board OF directors. sala
operating was due to two reasons
labor and material. The labor unions,
he said. are strongly organized ana ana
had enforced unfair burdens nItb on me me
past ten years the cost of material
had increased about 20 per cent. There
was retrenchment in every deparLment.
Mr.. Walters said. and lie felt confldent
that this policy. made necessars ~
to stockholders ana the Piop-
erty itself
Wage Increase One Million.
For the last fiscal year the total
earnings were s26.77l,52S.5i. an IN
creas Sc over the preceding year Oh ~.
0nsrating expenses, and taxes for the
lac, fiscal wears were $20,422, 026:g9 an
Increase OF ss.54s,s27.5s, or sl.9s per rs
cent. More than on ,,a m T,xa9ys Months Months
f mHs Extra p and Increased wages. ~
THESE interesting facts about lne
road are taken from the president re
port: 40 tho straw
,or uwi and y vegetable crops. the gross
rnvenue from that source was S ,.aor
aS7.s5 less than the preceding ora f HE
Other traffic conditions laa % annipment we
and with IN, our Ut o nnere this loss. and
sMn,y a. q gross increase from freigntt
s sraffic Of $1,000 1926. or 6:l5 per s cSm.
passen NJ ssfs47s1s.5e or ii.ss per cent
- rp,nr hq rever.ue increased 7.72 per
cent: the number Of tons carl carr: t t,e
mile increased I'LL p per ct ernins in In
n,r l.,easS SO per cent. and the average
WINNER Of tons carried per 11e'sh.
train mile Increased t6.33 per cent ~, -, :
'rrhe number of passengers carney ~
Increased 6.S per cent: the nn .i o.
messengers carried one mile 1n &c re. 81
1sSoI 5er cent. and the mileage, o.; 81
revenue passenger trains lncreaseu 10
per cent. The average number Of pas rs
senpers carried per tram Inlle ~
creased 800 per cent.
sThe statement attached to this re-
mort page 40, shows in detail our
traffic and mileage statistics.
'''' 'rhe Industrial Feature.
"Through the efforts of our agr1cu!-
ttural and Immigration department. 51S
settlers were located on our lines IN
different States and engaged IN agri.
cultural pursuits. The figures stated
cover heads Of families only. one
hundred and seventy-seven industries.
such as factories, mills, etc.. were To-
Gated on our lines during the fiscal
year.
number Of settlers have been located
on our lines by private organizations.
real estate agents. etc.. with all of
whom our agricultural and imlnigra-
ton department co-operates.
TO LYNCHBURG ACADEMY
Sictcr A1oyhius of Rtchmnnd RacO,nes