The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1907-10-24
SUITS PUBLIC, NOT
ALL STOCKHOLDERS
Cant Improve Service and Pay
Big Dividends, Says One
of Them.
BUT MEETING WILL DO GOOD
Chesapeake and Ohio Has Pre-
pared to Handle Increased
Traffic OF Its Territory.
BUT MEETING WILL DO GOOD

According to those who claim to be-
familiar with conditions affecting the
Chesapeake and Ohio Railway Com
pany, the main point of difference,
aside from the question of bookkeep-
ing methods, revolves around the point
of paying larger dividends or invest
ing proper share of the profits In
making the road first-class in every
way and providing a service which
Will meet the growing demands OF
prosperous section through which It's
ines run.
SO far as the management is con-
cerned, there is and has been no adj
verse criticism. Even the minority
stock holders, who object to the man
ner in which the expenditures have
,een charged unhesitatingly declare
chat President Stevens and his asso-
-iates have worked hard to improve
the property. and their conduct of Its
nffairs has been highly commended.
1t is well. therefore. for the public
to bear in mind that there l. no sps-
picion of wrongdoing. point which
al stockholders apparently desire to
emphasize.
Looks for Better Conditions.
High officers OF the con>cany made
no comment yesterday on the events
sentatives of the minority stockhold-
ers said, however. that there would
probably he no more misleading" re-
ports, whilt President stevens said at
the meeting, that he was of the opin-
ion that with increased traffic larger
dividends might be paid in the fu-
ttre. Being a close student of con-
dtions ne VS. naturally optimistic,
and that feeln~ is shared by not II
few OF the people who are financially
Interested in the company.
Policy Was to Improve.
In recent years. while dividends have
been small. the Chesapeake and Ohio
Railway Company's policy has been to
make heavy expenditures for improve
ments of one kind and another, the re-
suit of which is that it is better pre-
pared thar, some other roads IN the
South and West to handle the volume
of traffic which is steadily increas
ing. Terminal facilities have be n en-
lnrsed and improved new equipment
and rolling stock has been purchased
and even with what the company fears
VIII be n reduction in revenue by rCa-
son of new rate laws, the Chesapeake
and Ohio is on q iirm basis and has
conditions which are likely TO arise
Al any time i'll the life of transport
.atlon company.
The NIe.t of the Argument.
Most of us sympathize. of course
with the stockholders who want bet.
ter returns on their Investments" said
stocRholder yesterday land ] be.
lieve better day is coming 1t is
natural TO draw that conclusion. main.
~ for the reason that the CHI sapcakt
and Ohio is now in u position to rear
the reward which must come from
expansion. The South has been crying
tor an improved service ahead Of bis
diVidends on what the public calls wa
tered stock, The Chesapt axe and Ohio
has looked after the public. Their in
yestments are allied and this is be
coiiiihg more ai,d more apparent whel
i you remember that the Federal govern
mtnt, and The various States axe exer
csins more powerful control thai
~ dan Former years ni, J, You eannot pay divi
provide iirst-class railroad out o
the same dollar, TO my mind the mol
10y or the company is what the Heo
pr uem .ii,i though it Is moi in nc
holders who, want big profits on thci
x investments"
Want More Local Directors.
Some OF the, stockholders, howevc,
y Pre- not satisfied with The fact tina
CREASED returns, and declare that the
have been squeezed out by that faI
nen, w ~ j, Is investing In improve
ought ito share In the profits Mors
oyer. They object to the fact that II
Il directors OF majority Of them, CON
from q section in which the Chea,
peahe and Ohio does not operate, an
that they give directions from phil
delephia or New York without bein
t4AIaTftiilafs WAN what happens In III
company's territory. Stiil, The gener
opinion is that the annual meeting
the stockholders Will prove more be,
eficiai than harmful and that even
ually the factions win work in clos
z harmony for the success of the cor
pany, Its stockholders and the couI
t65 try II serves.
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Fast W0rs on Niuuuct
About 200 men are now at work ,
A IN. Richmond and Jlenrico Niadn,
IS "a Which is ahnllt dnllhlr Tic nn1nh