The Richmond Virginian. (Richmond, Va.) 1910-1920, 1912-09-22
N. 8 v. REPORTS
PROSPEROUS YEAR
LIBERAL EXPENDITURES IN I'M
PRovEMENTs HAVE NOT CUT
DOWN THE NET REVENUE.
FACTS AND FIGURES
DOUBLE TRACKING OF THE ENTIRE
MAIN LINE WILL SOON BE
COMPLETED-DETA OF
YEARS WORK.

its total operating revenues and OF
practically the same percentage in
Its net revenues is shown by the Nor
folk and Western railway company
In its sixteenth annual report covering
the year ended June so, which has
just been issued in pamphlet form.
The figures of the income statement
reveal that the total operating reve-
nues were s39.735. 231. which is an in
crease of $4,171.I14 as compared with
the statement of a year ago. Total
operating expenses were s25,669, 429.
an increase of S2,T1l.149. and the net
railway opera ting revenue was S14.-
045, 397, an increase of Sl,456,135. AZ
ter deducting taxes the railway oper-
ating income was sl2.635,39T, an in
crease of sI,S66,l35, or more than II
per cent. Gross income was 1898
639. increase I,426. 92s: net income
j after payment of interest, rentals,
etc. was $s.3S1,674, increase s1,s24,-
2ss balance to profit and loss after
dividends on adjustment preferred
stock 1852. COS, increase si,s24,2ss, or
about p liz per cent; total balance 20
credit of profit and loss after pay
+ ment of dividends on common stock,
appropriations for additions and bet
terments, etc, sS.5so.s31, increase ST.
42s.s34, or more than 80 per cent
PRESIDENT --E--Johnson- ys-ts, tho
stockholders, in commenting on the
substantial increase in the gross oper-
atfng revenues: THE liberal expen-
ditures which have been made for
improvements upon your lines and for
heavy engines and freight cars of large
capacity have enabled your manage
ment to show practically unchanged
4 IN st
ating revenues. notwithstanding sub
stantial increases in rates OF employees
wages"
Doubie-track work Is In progress as
follows: Jericho Tank to west of Suf-
! FOLK. Va, $40 miles. Nottoway to
Burkeville, Va. in sections. 407 miles:
| Evergreen to Phoebe, Va, 1888 niles
This double tracking will be COM
plefed about December. At the Ohio
| river bridge. Kenova, w. Va, the
vfaduct and the east approach have
been double tracked on grade of
3 per cent. and the double tracking
on the bridge itself is now In pro-
gress, 10 be completed next spring.
/ When these sections are finished the
company will have in operation be-
tween Lambert's Point. Va. near Nor
folk. and Columbus. O., very nearly
557 miles of double track main line
| Hncluding as second track the low
grade lines around Petersburg and
Lynchburg, Va. and the Big Sandy
| Hnel, about lac 1-2 miles OF single
track and one gauntlet track of lit
tie more than half a mile. The sin
gle track. is in several sections, the
longest being between Suffolk and
Estes. Va, about fifty miles
On the Dry Fork branch and its
connections grading has been COM
pleted from above Canebrake, w Va,
TO the initial point of Beech Creek
branch, thirty-one miles Grade is
also completed on the latter to a
connection with the Indian Creek
About one half of the grading has
been done on the Indian Creek
branch, and these branches will be
completed about December.
The following have been completed:
| North Fork branch of Tug Fork
branch from Jeanette. w Va, 4.3T
miles: Indian Camp branch. from the
Cripple Creek extension near Mile
post Is to an iron-ore tipple. about
three-quarters of q mile. The Bal
ard-Harmon spur of the North Fork
branch. Los miles, Is under construc-
ton. and will be completed in Octo-
Der.
The Williamson and Pond Creek rail-
road, II miles long from Williamson.
W. Va. to properties of the Pond
Creek Coal company. in Pike county.
Kentucky. il under construction, and
will be completed the latter part of
1919: estimated cost 100000. Eight
mines are being opened by the coal
company.
Equipment received during the year
consists OF passenger locomotives,
Is freight locomotives. 1000 ali-steel
drop-bottom gondola cars, each of
$4,000 pounds capacity, $50 all-steel
hopper coal cars, each of 1i5,o00
pounds car~city; scale test cars.
scoup car and 2 locomotive cranes.
Or this equipment freight locomo-
tives, all of the gondola and hopper
cars and the scroop car were built
by the railway company at its shops
In Roanoe. Va.
Considerable betterment work was
done in the way OF laying heavier
rails, stone ballast. installation OF sig
nails. besides the erection OF sunday
bridges and buildings at various
| points
Among the new industries estab-
lished on the lines OF the company
are IL manufactures OF mineral aMl
metal products. ~ mannfactories of
lumber products, AZ manufac tories Of
farm implements and farm products
and ] ! coal mines.
At the close Of the year there we're
Ia companies organized Cor produc-
Ing coal and coke on the lines. with a
totsl ofs AIS separate mines Of, which
zio were In actual operation. or the
1921 coke ovens. %,2O3 were in blast.
or the - iron furnaces. 8 were tn
blast
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