The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1910-09-07

Into effect, and, In view OF this and
or the unfavorable business conditions.
II would do nothing at that time.
Condition or ItOnds.,
Mr.. Wickham delivered qultt O. con-
ylncing speech He said that in the
organization Of q State Corporation
Commission the Constitutional Conyen-
ton had for the first time established
tribunal to stand between the rail-
roads and the public. There had al
ways been a conflict between those
charged with raising revenue neces-
sary for the support OF TIE govern
ment, and those whose duty 1t was
to protect the investments Of capital
This was. he thought, rare pro-
vision In the history of the world.
The railroads Of Virginia, he as
serted, are In a more serious position
now than they were a year ago. While
the Chesapeake and Ohio showed an
increase In operating revenue OF about
s150,O00. there was decrease In net
revenue of $4,000. There had been
material increase in wages paid,
and the proportion OF operating cx-
penses to revenue had grown from 80
per cent in 1909 to 81 per cent. in 1910.
II am not pessimist," he saiu, land
1 do not think 1t admirable that bust
ness men should croak.' But, he
thought, business people should not
shut their eyes. People were not
buying, SO he was informed. and
drumrners are not going out In tho
numbers of former years. Contracts
are being withheld. Everything is in
q state of expectancy. We are,
think" he declared, in the trough
Of tile sea in which the country is
usually plunged in presidential CON
tests. and which Is on US at this
mo What rean1t will no
knows"
As to Passenger Rntes.
Mr.. Wickham aid not think the in
crease in passenger rates from 2 cents
to 1-2 cents was a sufficient reason
for adding to valuations, in as much
as 95 per cent. Of the earnings of the
road comes from freight-carrying,
which had not been changed. The
half a cent was negligible guam
| tity when considered with reference
to the value OF the roadbed.
| In Virginia, he said. the burden of
| taxation on railroads was greater
| than in the other States through which
! the Chesapeake and Ohio runs. For
! the year ending June 80, 1910. the
company was paying, all told, 1853
| per cent of 1t gross operating revenue
Assignable to Virginia in taxes. The
| total OF taxes will be s379072.71. In
j
| 324s2. or 3.133 per cent. of the gross
! operating revenue assignable to that
! State on the Chesapeake and Ohio
| lines in Kentucky the tax is $780,
| 448.94. or only l per cent. OF the
revenue. For the entire system, not
! including the Chesapeake and Ohio OF
| Indiana. the taxes will be about
| 1901 900, or 2.93 per cent.
| This amounts to 1891 per mile in
IN act
/ Virginia Virginia, he added, is In
the forefront in TAPPING property. The
Constitutional Convention, said Mr..
| Wickham, thought that l-2 per
| cent. OF the revenue was fair tax
alton was railway companies.
i Norfolk and Western Pays More.
Next came the Norfolk and West
ern. represented by General Counsel
| Lucian H. Cooke and Auditor Joseph
/ would pay on s1,236.015 more prop
erty this year than last This. how
i ever. Included small lines which had
! been consolidated, making the net in
crease $4,000. There had been a
rise of s3100.00o in the gross earn
ings, which would net the State s31.-
600 additional revenue in franchise
tax alone.
The Virginia lines of the road. con-
llHueu MT. SoSe, Hdu suIleieo AosS
Il of position in relation to the ton
ge hauled. The line from Roanoke
to Rluefeld which has heretofore held
4 first place in density of tonnage, drops
this year TO second place, the road
from Portsmouth to Columbus coming
} to first place. The Roanoke-Norfolk
line drops from third to fourth place
among the eleven divisions of the
system. There had also been great
increase in operating expenses.
Norton Situation.
! John Roberts appeared when the
commission asked II any one else had