The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1910-11-16
REVENUE
|NR0AD' s HISTORY
Atlantic Coast Line Stockhola-
ers Get Gratifying News at
Annual Meeting.
STOCK ON 6 PER CENT. BASIS
President Emerson Gives De
tailed Account of Business.
Old Officers Reelected.

Reports from officers of the Atiah'ie
Coast Line for the fiscal year eNue"
June 80 read before the annual meet
ing Of the stockholders yesteroas
morning, showed the most graui!ihs
results in the roads history, me re-
port of Comptroller H G. Prince iho.
Gated net income for the year =.
Sc, 993,254.03, an increase as com CO
with the corresponding period OIL iiiole
than $2,250,00O. The directors
clared the regular dividend oil per
cent, payable January 10, W. ~
stockholders of record December -.
1910, thus Keeping the stock on
per cent. bases.
=. j. Same Officers Elected.
The following officers were elected:
President, r. NJ Emerson FRS,
vice-President, Alexander Hamilton
Second vice-President, c. ). Gaasaen'
Third Vice-President, j r. ken!y; Cen
eral Counsel, Alex. Hamilton; secre-
tary and Assistant Treasurer II.
Borden; Assistant Secretaries, X y
j Cronley, w. r. sullivan, G. B. Elliott;
Treasurer, James +. Post; Assistant
Treasurers, u. j. Helligan, j. b, kirby
w. r. Jones. j. Moultrie Lee; Gen
eral Manager w. n. Royal; Frelsh'
Traffic Manager, r. A. Brand; Passeh-
ger Traffic Manager, w. j. Craig
Comptroller, II. G. Prince.
Board of Directors-H. Walters
chairman; Michael Jenkins, Waldo
Newcomer, NJ. F. Plant Warren De-
lano. Il. w. Scott. Alexander Hamilton
/, Z. B. Borden. Donald MacRae, j. X
| Kenly. Major j. j. Lucas and w. w
Mackall.
Immediately after the meeting th'
officers left Richmond for the Soutt
by special train.
Income account
The income account showed gros
operating revenues of s29,slo2617s
To this must be added interest OF
deposits and current accounts; divi
dends on other securities; rent o
real estate. rail tracks, hire of equip
ment and income from miscellaneou
sources amounting to S2,9+7.155.97. De
Quoting from these amounts operatin
expenses of s1S.614,1572T; taxes I
the amount of s1,2oS,9576s; interest o
funded debt, equipment trust bond
three-year gold notes, B. and w. Rail
road income bonds, certificates of III
debtedness and freight certificate
$5,S45.3S826; rental of leased line
S40,2T6: rental of terminals, s55,3s3.5
leaves the surplus income for the yea
S6,993.254.03.
According to President Emerson
seport, although the rate per to
per mile and per passenger per mi
remained practically the same. gro
! earnings were the largest in the hi
. tory of the company. Below is h
0 H.. t,,a M,
a of freight-ear revenue, 1890 p
cent: tons carried one mile. 1887 p
q cent; mileage of revenue freig
v trains, S.73 per cent; tons per freig
9 train mile. S.75 per cent: number
9 passengers carried, 14.74 per cen,
l. number carried one mile. 1899 p
D. cent. mileage of revenue passeng
trains, 9.43 per cent: passengers p
's train mile, 5.41 per cent.
% Great Years Business.
~ "The very satisfactory net resu
from the years business" said Pre-
e dent Emerson, must be attributed
y the economical momentum which CO
o. ried through the first six months
K December 81. 1909
~ "Since that date such large increa!
ee have been made in wages and the c.
re of materials has advanced to such
ce extent that the increase IN OpeTdtl
ry expenses In the month of Septemt
IS 1910, has exceeded the increase mgr
he earnings so that the net shows
n crease as compared with Septemt
n 1909"
rt Referring to the Industrial depa
ment of the road, President Emer:
. says: THE increasing number of hor
seekers moving to points on your III
made 1t necessary in the furtheral
of the industrial development of "
z territory, to appoint an additional I
n ricultural and Immigration agent, Il
creating two divisions of this depa
ment. One agent Will devote his
20 tention to the States of Virginia, No
Carolina and South Carolina, while
other will have Jurisdiction over
States of Georgia, Florida and A
bama.
In the course of the year 2,966 S
70. tiers (heads of families) ;ocated
"a your lines in various States and
o1 gagged in agricultural pursuits, and
factories, mills and other manufact
ing industries We're located at lie
10 points on your lines"
-. -. During the year many improveme
e"e We're made on various parts of the re
NJ At the close of the year 1928 per C,
81 of the total mileage was laid "
1ei' rail weighing from seventy to eigf
10 five pounds per yard. Eighty-f
pound rail has been laid on 90 per C
M of the mileage
nts -,----
ri