The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1912-09-21
c. ( 0. SHOWS BIG
GAIN IN REVENUE
Net Income for Fiscal Year
Ended June 80 More Than
Four Million Dollars.
ANNUAL REPORT ISSUED
Dividend Payments During Year
Exceeded Three Million
Dollars.
vNvAL REPORT ISSUED

The net income Of the Chesapeake
and Ohio RAILWAY for the fiscal year
ended June 30. according to the thirty
fourth annual report Of the company
issued yesterday, was $i,274.2o693. an
increase OF s1.045,3?l or 40 per cent.
Four dividends. of l and Ia per cent
each, were paid during the year. ag-
gregating s3.l3Ss27.5o. The remand
er of $l.134.573.53 was devoted to I'm
proyement Of physical and other as
sets. In the report President SteV-
ems shows that the coal and coke ton
mage was 1s.osi.s77, an increase OF
la.3 per cent Other freight tonnage
amounted to s.oss.22s tons. de-
crease OF So per cent making the to-
tai 2e.i47.s03 tons. an increase OF 90
per cent.
The company has acquired during
the year additional shares of stock
in the Chesapeake and Ohio Equipment
Corporation. the First National Bank
Building Corporation and the white
Sulphur Springs. Inc II has also ac-
autred all Of the stock Of the Logan
and Southern Railway Company ahn
~ the Silver Grove Land and Build
ing Company. The number Of miles
operated at the end Of the year was
2,a05, an increase of sixty-three miles
The operations OF the Chicago line.
the Chesapeake and Ohio Railroad OF
Indiana, are included In the report.
It IL stated that this line has not yet
begun to yield any return on the IN
vestnent, cue In part TO its physical
condition at the time IL was acquired
ana the necessity Of steady improve
ment and excessive maintenance work.
coupled with the necessity OF expeoit-
ing through trasic. Measures have
been taken TO bring the Chicago line
into a much higher state Of EMERGENCY
and the outlook for the future earn
ings is favorably reported.
Results for the Year.
The results for the year are reported
as follows: Operating revenue. Sai.-
ess,sss: operating expenses. $22,s35.ssl:
net operating revenue. $l1.ss4,lss:
taxes. sl.el4.2is; interest charges
s7.3lz,3o64s.
EXTENSIVE yards and terminals have
been completed during the year at ST.
yer Grove. KY. about twelve mics
east Of Cincinnati. at total cost OF
ssle.37s. giving much needed facih-
tie. for handling the rapid increase
IN coal tonnage moved westward
Yards and terminals have been con-
struc.ed at Summit. o., and Boston.
Ind a, cost or S.9i.3o4. Exten-
sion. OF the Raleigh and Southwestern,
coal River and Guyandot Valley branch
lines aggregated 4s.5 miles The con-
s,ructicn Of all second track author
lied has been completed, and the COM
many now owns two tracks from Tide
water a. Newport News. Va. to Gin
cinnat! O.. distance Of SIS miles
except for a distance Of nine miles IN
the mountains Of West Virginia.
Passengers Carried.
There were 5,fss.eio passengers car
ried during the year. decrease OF rs
per cent Passenger revenue was
s5.505. $751; There were 1875 tons
of new rails used in renewal OF ex-
listing main track.
The cost Of the road at the be"
ginning of the year was placed at
SIs2.s14,3ss: there WAS added during
the ysoz. for additions and betterments
s3.5SE.ia5: the cost Of equipment at
the beginning Of the year was $685.
p44.3os. and there was added during
the year Ssii.742. less $351.27s value
Of equipment retired, making total
cost Of road and equipment on date Of
report $1ss.s:s.174.
During the year fifteen locomotives
and 3ls freight cars were retired from
service.
In the classification OF freight ton