The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1910-10-12
LARGEST INCOME
|NR0AD' s HISTORY
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Southern Railway Stockholders
Hear an Encouraging
Report.
ANNUAL MEETING is HELD
Cost Of Roads Living Has
Greatly Increased Because
Of Higher Wages.
ANNUAL MEETING is HELD

Of Higher Wages.
Indicating the largest gross oper-
atins revenues In the history of the
road. the annual report of the South
i.ern Railway Company was submitted
Yesterday to the annual stockholders
meeting. held in Richmond. The meet
ing was, as usual, III the principal office
of the company In the Times Building.
| Colonel A. b. Andrews, of Raleigh
N. c.. first vice-president of the South
ern ofhctated at the meeting in Inc
absence of President w. w. Finley
George +. Baker, Jr., Adrian tIselin.
Jr.. Charles Lanier and Edmund D.
Randolph were elected directors of the
third classsfor the term Of three years.
Freight revenues We're shown by
the report to have increased 11.97 pes
cent. during the year as compared with
the previous year, and passenger reve-
nues 9.92 per cent, with gain of 1890
per cent n the gross operating reve-
nues The latter amounted to $751;
S9i, oOS.S4. as against s521SS,106.64 in
1909 The actual increase is S5,106.-
40i.7o
Increased Cost.
While this is stated In the report
to be gratifying, attention Is called to
the fact that the increasesin operating
expenses almost kept pace with the
gain in revenues. being 9.91 per cent.
In 1903 these amounted to s35,56s.
$1,000. while in 1910 they were $685.
535.145.s4. an increase of $3,066. T65.34.
However. when the operating ratio
is considered 1t is found to be only
6743 per cent. as compared with 6S.04
per cent last year. and 1901 per cent.
in 1907. The Improvement in these
three years is attributed to the i'm
proved TRANSFORMATION conditions under
the wage scale heretofore in effect.
The property" continues the report,
has been well maintained during tho
year. and Is in as good physical condi-
ton as is necessary. not only for the
preservation of the integrity of the
capital account. but also to make pos
, sible efficient operation. Ins!stent ef-
fort to increase efficiency in oper-
alton has been made, looking especial
! ly TO maintaining a reasonable ratiS
between transportation EXPENSES and
iEross revenue. The continued high
/ cost of all the materials and supplies
which a railroad consumes. and the
| increased cost of labor without any
proportionate increase in the cost OF
the one thing the railroad produces
Ia,
! has so intensified the problem of sue
cessfuI railroad operation that the OPP
portunity for good results is narrowe
under existing conditions to efforts to
Increase the volume of business and
| Improvement in operating efficiency"
Other Figures.
The Southern operated I20.19 miles
less of road on an average than dur
| ing the previous year. Its net operating
TN Itch To
added sis,S9o36 from outside sources.
l Taxes accrued totaled s1,979,722.33, but
| with other income the total gross in
come reaches nearly s20.000.000. In
| terest on funded debt and equipment
I obligations amounted to sl1,313,6S6.11
! which, with other deductions from
gross income. brings the balance down
1 TO s5,757,01s.61.
4 Additions and betterments made
further reduction of s52,372.91, which,
in the last analysis. brings balance
/ of S5,704, 645.70 to be carried to the
credit of the profit and loss account
Approximately s2.00o,0oO will be
/ added to the annual payroll of the
| company by reason of the recent in
creases in the ay of employees. which,
| however. affects this years report very
| little because they were made late in
the year.
No new construction of Importance
] was undertaken during the year. The
! benefit expected to be derived from the
| operation Of the revised line through
Lynchburg is delayed because of the
/ fire in tie tunnel. 1t is now expected
| that the new 'double-track line from
Monroe TO Sycamore through Lynch
4 burg will be In operation before the
end of the year
New Double Tracks.
| Double-track work has been COM
| pleted during the year between Spen-
Ger, n. c., and Concord, N. c., 24.07
miles: between Harrisburg, N. c., and
North Charlotte, N. c., ser miles, and
north from Greensboro. N. CO.. 1.S0
miles. The heavy work on the 1861
miles of revised and double track be-
tween Chico. Tenn. and Oltcwah,
Tenn. is nearing compilation.
Three hundred and 1ftyfive new
Industrial plants were completed on
the lines of the company during the
/ year. classified as follows: Brick
fertilizer works. 8; flour and feed
mills, 81; furniture factories. q; iron
/ industries. 81: lumber mills, 60: stons
|tauarries, coal and other mines 30;
textile mills, sc; woodworking plants,
TO- miscellaneous plants, 1OS.
Acknowledgment made in con-
clusion of ''the industry, loyalty and
4, efficiency of the officers anu enlplo!es
|Sof all ranks during the year.. Atten-
j ton is called to the fact that the cost
Of living OF the company has heavily
4 increased. due largely to the increase
wages paid, and 1t relies upon Its
4 employees to Justify this increase by
securing for the company, through
roper relations with the public, etfec-
! tive solicitation and efficient service
i