The semi-weekly messenger., 1907-11-22


lion Paid Out III Year for Extra AMI
Increased III age.
Because of the unsettled HndncIaI
situation. directors Of the Atlantic
Coast Line Railroad Company notified
the stockholders, in session OH Tues
day Richmond says Times-Dispatch,t the
question of dividend payments WouiH
be deferred until December, at which
time Il special meeting Will be held III
New York. The company heretofore
has been paying 6 per cent. per annum
and notwithstanding the untavorable
conditions which have affected rail-
xy5ads, the report of President Emerson
made d gratifying record the COM
pany being without any floating debt.
The same board Of directors were re-
elected with the exception Of Mr. w
w Mackall, of Savannah, who was
named to fill the vacancy caused by the
death of colonel J. II. Estill, of that
city
The stockholders meeting was
largely attended. The directors met an
bcur earlier, at the conclusion of the
Inference the announcement being
-.a as to the dividend. Officials of
X = company from Baltimore, Whining
ton and other points left Richmond af-
taN the meeting for Charleston, S. G
4 M. Emerson, of Wilmington, n. c.,
was Reelected president, Alexander
Hamilton, OF Petersburg, first vice
president; c. S. Gadsden, Of Charles
ton, second vice president, and J. r.
Kenly OF Wilmington, third vice
president.
The board Of directors is composed
Of the following:
Henry Walters Of Baltimore; Michael
Jenkins, Baltimore; Waldo Newcomer,
Baltimore; Warren Delano, Jr., New
York; NJ. F. Plant, New York; Fred
w. Scott, Richmond; Alexander Ham
ilton Petersburg; E. B Borden. Colds
D0rO; Donald McRae, Wilmington, n.
c.; H. B. Short, North Carolina; J. J
Lucas, South Carolina and w. w. Mac
kali, Savannah.
President Emerson called attention
in his report to the fact that the At
Iantic Coast Line was now operating
the reduced passenger rates in three
states, although" he added I'VE be-
neve them to be confiscatory, and their
legality is being tested in the courts
Nh the meantime the country is suf
fering irreparable loss, pending final
decision"
20 the stockholders Chairman Wal
ters of the board of directors, said that
the great increase in the cost in OPP
Grating was due to two reasons-1a-
Dor and material. The labor unions
he said are strongly organized and
road
He also said that within the past
ten years the cost of material mas in
creased 70 per cent. There was re-
trenchment in every department, Mr..
walters said and he felt confident that
this policy. made necessary by unus-
ual. conditions, would serve as pro-
zection to the stockholders and the
property itself.
For the last fiscal year the total
earnings were 6,771, ,52S.54, an i'll
crease over the preceding year of ST..
500, ,080.49, or gain of 7,66 per cent. Op-
Grating expenses, taxes for last fis-
cal year were $50, O,422 ,O2699 an increase
of .s3, ,549, ,S27.53, or Of 2102 per cent
More than one million dollars was
paid out during the twelve months
fOl extra and increased wages.
These interesting facts about the
report:
Owing to the shortage of the straw
berry and vegetable crops, the gross
revenue from that source was S239,'
2S1.25 less than the preceding year.
Other traffic conditions We're favOra
HE. and with our increased equip
Tnent We were able to overcome this
hess and show gross increase from
freight traffic of 81 1,069, ,170.26, or SIS
per. cent.
Passenger traffic shows gross in
crease of S647, ,S1S59, or 1872 per
cent.
'FThe number of tons of freight
earning revenue increased 7.72 per cent,
the number of tons carried one mile
increased ILL per cent; the mileage
: of revenue freight trains increased
5.52 per cent; and the average num-
bsr Of tons carried per freight train
mile increased 6.33 per cent.
~The number of passengers carried
INCREASED 6.S per cent; the number