The Richmond Virginian. (Richmond, Va.) 1910-1920, 1910-09-08
REVENUE FOR YEAR
OVER 500, 900, 600
Three Lines Alone Distribute
Nearly 100000 Among
Stock Holders Business
is Still ON Increase. III

Reports In the hands of tho Stnt0 &
Corporation Commission show that the
five great eastern trunk lines operating
In Virginia, which have Just pleaded
poverty and bankruptcy in the in-Ts
creased tax assessment hearings, now
being conducted before the commits
sion. received during the year ending u
June so, 1910 a total gross revenue az q
more than sl6Q.0o0,G9o.
After paying all expenses ana s.
charges incident to operation there re-
NAMED net sum of $4,000, o0o. Three
OF the roads alone, the Chesapeake 49,
Ohio. the Atla5-ic Coast Line and the
Norfolk q Western, distributed divf-
bends at the rate of Ss.500,000 UPON
their capital stock. some of this stock,
1t being shown, rpreSenting no actuMl s
capital Invested.
These three roads. impressed with
the great increase in revenue and be-
lieving that Ii forecast great business
prosperity. increased their rates "
Dividend, paying out thousands OF doll
lars additional To their stock holders.
Attorneys and officers OF these roads
declared almost without exception that
to increase the tax assessment from
$4,000 mile to Sz0,oU0 d mile would
practically rub them They pictured
in asonized tt-ms the ever growing
cost of operating and maintenances
they pointed out that business Was At
a stand still; they sad that the coun-
try al Large was Ia sLeh state or un~s
rest that any advance In the tax rate
would 50 serio .sly afIect he operations
OF the roads that all lines Of trada
would inevitably suffer.
Heavy increases.
The official reports, when are being
carefully studied by members Of the
commission. show, however, without
single exception that gross receipts Tor
1910 were largely IN eysess OF those tor
1908. The operating Expenses likewise
advanced, pL- comparison proves thar
the increase in revenue was far in ex~
cess, or the increase In the expanSen
Judge hopert II. Prentis, cnAirM&n
of the state corporation commission.
While giving no intlmation OF what
the f1nai decisIon of the commiSxion
Will oa--that being indeed practically
impossible at this time--says, how-
ever. That All the 7,eports ayafiahio
will be thort lgnly studied. not only
those recently flied by the ratlwayn
tending to show their inability to pay
an increased taxi but those pub
ltshed by the roaus just previous ~ q
the hearings, eshowing their tncreA8-Ss
cd business and the general pros
perity or the COUNT. at large.
That report showing the operations
operations of the Atlantic Coast Linz
for 1910 places the gross revenue ~
s2S,Sl0,26s, an increase over the reyoe
nue. OF 1903 by over $3.600.000.
The net reeeuue--after opratln2
expenses were paid--is placed At So
7sl,o2l Over against the increaao
in gross revenue-$3 soc. 000-a ~ d
placed the increase In operating ex~s
penses. this figure being given as 41.s
s56.S4s, this increase being approxt-
81. hnfF s.f t,,,
gross receipts.
In 1909 this road paid upon IL
preferred stock q dividend OF par
cent, the amount distributed betan u
s7s.s30. Upon It's common stock NJ
5 IL per cent dividend was paid.
the sum dist 4puted to the commou
stock holders being $2,6s9.5s6. THE
total amount paid In dividends wAa
s2.74s.39s Il.
Larger Dividends.
Not only was this amount set aafanz
out of the revenue of. 1910 but the
rate of dividend upon the commoM
stock was increased from IL p11l
cent. to per Cat, making this -
curity of such value that. accordtnnA
TO the operations of the New Yot1
stock exchange Wednesday morning. n
1t was rated as a $40 stock on pa1#
value OF s10n 3 i
The report OF the Chesapeake auA
Ohio covers the operations for TIL
first eleven months Of the fiscal yeaIs8
During this time the road received 1#
gross revenue $2s. 721.s sos, showing Il Is
increase over the revenue Of the c01S4
responding period OF 1903 BY S4.teo]
ASA l IVY sg M
Net revenue for that period amoun1 h ~
ed to slf,+70.3o4. being $z.1e1.1o4#
rnroe than that for the first 0a0v1
months OF the fiscal year ending Ju11&2
81, 1909. SSS9 Ss
In the distribution OF dividends xkI1z
road holds an enviabie record. x1$
steady increase in the sums app0 MI
toned among the stockholdern Gtx1I q
an excellent idea Of the able and ao4a5|
nomic methods emuioyed BY she rnGSfz
ngsment. Ess 4
This road cow pays y2,Byl.sse &
dividends, according to- this 4pr1noM q
rate. In 1908. and In the ten yox1j
previous. the annual dividend wM4
the rate OF per cent In 1909, h0s1
ever the rate was increased TO 4 N
cent, and this has been itnel1 II "
vanced until the road II now pM41
a fat 4 per cent, dividend. SS "a
Record Breakers. s$E
The gross revenue OF tbs Bou11
railway for 1910 was &67. 44AS
This showed an increase over tn
responding item for 1908 nv a
600. though the operating
Increased $3.675.0e0. The n<E
n9e, however, ID given ~ e1AsA4l
which In an increaSe over k1&3T
revenue OF 1909 ~ over tx,09ev ~
Figures covering the OptTa<14
the Seaboard Air Line thlo T.
like that II the sEheD4peaxe AQl
covering eleven m0ntea @
haps the most rexnn4}o
between the increeMe a