The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1910-09-24
MILLION AND HALF IN
DIVIDENDS LAST YEAR
Chesapeake and Ohio's Annual Report Shows
Increase Amounting to 1875 Per Cent-Fi-
nancial Record for Year.

According to the thirty-sccond an
nual report OF tho Chesapeake and Ohio
Railway Company for the fiscal year
ended June 80. 1910, issued yesterday.
the operating revenue amounted to
.23116o.3o. an increase of s4,606.-
4b1.52, or 1929 per cent, as compared
with the previous year. In the same
period operating expenses were $751;
936.ss9.02. and increase OF 15.7oper
cent. Tho net operating revenue.
therefore, amounted to $12,300,4 70.2s,
an increase OF 2.036.590.45, or 1884
per cent.
During the year three dividends OF
! per cent. each and one dividend of
la per cent. were paid. the total
being $2.6ss.s17.50 This dividend In
crease totaled si,412.s03.5O. or 1l2.5
per cent, considerable part OF
which was paid to stockholders In
Richmond.
In the special report. or statement.
prepared by President George W.
Stevens. 1t is mentioned that while
there was decrease OF 2.5 per cent.
In the number of passengers handled
during the year. passenger revenue in
creased Ills per cent. There was an
increase of 237 per cent. in the total
ltelSnt tonnage.
Acquisitions During Year.
President Stevens refers at length
to the properties acquired by the
year, reviewing the facts connected
with the Hooking Valley Railway deal.
President Stevens says:
In pursuance OF authority given by
the stockholders at the last annual
meeting, held in Richmond, Va. Oc-
tober 10. 1909, your company has ac-
CURED the properties of the following
companies. whose stock 1t had pre-
viously owned: Coal River Railway
Company. owning 6e.3 miles OF road
Raleigh and Southwestern Railway
Company. owning 20.1 miles. The
properties named having thus been
made integral parts OF The Chesapeake
and Ohio Railway. their funded debt
Is now listed in the balance sheet as
funded debt of your company instead
of being shown. as heretofore, below
the balance sheet as bonds guaranteed
by The Chesapeake and Ohio Railway
! Company During the year. SIS mile.
| were added to the Coal River line. anc
| an extension of OF mile of the Pain
| Creek branch was completed. Further
extensions of ia miles of the Goa
| River Railway and 141 miles of thu
Raleigh and Southwestern Railway arr
In progress: also an extension OF the
| Guyandot Valley branch of 21.4 miles
These extensions are for the purpos'
| of further development of timber and
| coal tonnage, and should be completed
and in operation during the fsca
| year 1911.
Hooking Valley Stock.
Other acquisitions mark most i'm
rortant epoch in your company's bis
| tory. namely: STATS shares of stocl
| of The Hooking Valley Railway Com
pany and 4o,271 shares OF stock Of
! The Kanawha and Michigan Railwa.
| Company; and payments amounting
Z, To s3.91919692 were made on account
of cost of the Chicago Line hereinafter
referred to- Your company owned a
the beginning of the fiscal year ll,54l
shares of common stock Of The Hook
| ing Valley Railway Company, so thai
| its ownership Of stock of that com.
pany at the end OF the year was 49,,
s1s shares. Al the time fthe pur
chase referred to. The Hooking Vale!
Railway Company had OUTSTANDING