The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-10-22
NJ j r j. H Dooley ana
Fed w. Scott l.ffer
designations.
GIVE NO REASON
F Jk RETIREMENT
New York Accommodations Said
to Have Lessened Relative I'M
portance Of Richmond Stock
Holdings-Annual Report
Shows Decrease in
Net Income.

Although officials of the shesapeake
ana Ohio Railway Company. both here
and in New York. decline to discuss
the matter. It is asserted on apparent-
~ good authority. that the resigna
tions of Directors Frederick w Scott
and James H Dooley are in the hands
OF the management, thus leaving the
way clear for the election of two new
directors at the approaching annual
meeting, to be held on Tuesday morn
ing at II o'clock at the Offices OF the
company IN Richmond
At the home Of Mr. Scott. on West
Franklin Street. 1t was stated last
nigh, that ne was out of the city, that
he had left New York to spend sun
day at some subur ban point, end that
his address was not known here sew
eral efforts were made to secure a
statement from Major Dooley at his
home ct Maymont last night, inquiries
being met each time by the informa-
ton that he was engaged.
Frank Trumbull, chairman of the
board. was approached in New York
last night and refused to CONFIRM or
deny the report of the resignattons
saying that II IT was reported that
these two Richmond directors had re-
signed, they were the proper persons
TO conhrm or deny the story. Both
MT. scott and Major Dooley have been
In New York during the past week in
consultation with officials Of the road
The announcements of the resigna-
tons were sent over stock wires early
Yesterday, and were not contradicted
From New York.
special from New York received
last night SAYS:
1T has been expected for some time
In Wall STREET. that the large increase
IN New york stockholdings in the road
would be followed by a larger repre-
sertat!on of New Workers. in the di-
rectorate.
There is nothing to indicate thatI
MI. Scott and Mr. Dooley have lessen
ed their holdings of the comp any's
shares but the accumulatons here
have virtually lessened the rela
tive Importance of the Virginia
stockholdings It is understood that,
In view OF the approe ching annual
meeting. which further representa-
tion of the New York stocks was in
eviteble, the two Richmond directors
placed their designations in the hands
OF the controlling interest to be acted
upon when the time came for making
up the new slate. There are now ave
directors in New York and four in
Richmond
Abstract of Annual Report.
In common with other Southern
railroads the Chesapeake and Ohio in |
It's thirty third annual report, cover
Ing the fiscal year ended June 80 last.
to be submitted to the annual meet !
ing of the stockholders on TUESDAY.
shows increased earnings. In commoa |
with most other roads OF the country
the road reports that expenses have
increased far more in proportion, so I
that net earnings for the year show
decided decrease Is compared with
those of the year ended June so. 1910 |
In the present report the hgures |
cover the operations of the Chesapeake
and Ohio OF Indiana. otherwise known
as the Chicago Line" and formerly
the Chicago. CineinnatI and Louisville. |
The income account compares as fol
lows
Operating revenues. ss2,5ss.411 lin
crease. s1,34e,2+2); operating expenses,
s2l,7s3.615 increase. s2.s56,s1s); net
operating revenue. s1o,7ss.7se (de-
crease. s1.b1e.674; gross income. SIP
35o.6i1 decrease. s1,l11.224: interest,
rent. tax. etc, ss.1e2,326 increase, ST.
s5o.e7D; net income, ss,22s,2s5 tde-
crease, ss,ose,2oD dividends. ss,1ae.-
SIS; surplus. sss,sso: total P. and 1.
surplus. s2,oo2,e1o; discount. sinking
fund, etc, 1921, 500; balance to credit P.
and L, s1,711.1oo.
Some Comparisons.
Tbs percentage OF operating e::-
penses to operating revenues was $50
IS compared with sos in the previous /
Year. The net income FOR the year. |
sS,22s.2s5. is equal to 514 per cent. !
on the capital little more than half !
the percentage earned last yea
Freight revenue. s25.5eoo27, vas an
increase of sess.s2I, and passsnz, ~
tafic Welded s5.512.ss2. an increase II
s51o727. Transportation costs. $40
ot4l7s. were an advance OF s1,5s4,7sa |
Chiefly on account Of increased wages
and cost of fuel Maintenance Of wov
and structures cost s4,141,s7a an in |
crease OF sTso.54o, and maintenance |
of equipment was ss,1es.s25, an In |!
crease of sa3e.es2 The average !
mileage operated was 2,22s, an in |
crease OF 2e2.a over the previous year,
ainly through the addition of the i
2s4.4 miles of the Chicago line Dur. |
Ing the year the Chesapeake and Ohio !
acquired all the 100000 stock OF the |
kanawhe Bridge and Terminal Com
pany which owns the bridge ar |
Charleston, w. Va, the connecting link /
with the Kanawha and the Michigan |