The Richmond Virginian. (Richmond, Va.) 1910-1920, 1912-09-22
c, 8 0. ENJOYED
PROSPEROUS YEAR
THIRTY-FOURTH ANNUAL REPORT
OF CORPORATION GRATIFYING
TO STOCKHOLDERS.
INCREASES MILEAG E
OPERATIONS OF THE ROAD SET
DOWN IN FACTS AND FIGURES
IN DOCUMENT SUBMITTED
ny PRESIDENT STEVENS.

ny PRESIDENT STEVENS.
The thfrty-fourth annual report OF
the Chesapeake and Ohio railroad,
which was made public yesterday,
makes showing which la extremely
gratifying 20 the stockholders of that
corporation. The essential features
OF the report. which Is signed by
President George w Stevens. follow
The average mileage operated dur
ing the year by the Chesapeake and
Ohio lines was 1881 miles. an in
crease over the previous year of 3Ss
miles. The mileage at the end of the
year was ..3os.5 miles. an Increase OF
$50 miles over mileage on June 80
1911.
The operations Of the Chicago line
fthe Chesapeake and ohio railway
company or Indiana) are included tn
this report. This line has not yet
begun TO yield any return to your
company upon the sums invested in
the purchase of its stocks and bonds
This is due in part TO its physical
condition at the time IL was acquired
and to the consequent necessity for
steady Improvement and excessive
maintenance work coupled with tho
necessity for expediting through traf-
&c in order that the bushes offered
your company might be handled
Careful measures have been under
taken for bringing this lire TO
much higher state OF efficiency and
THE outlook upon Its future earnings
appears more favorable now than al
any time since its acquisition,
Results for the Year
Operating revenues were s342Ss
sss.77-inerease si.7es. 45s.53. or 5.2a
per cent.
Operating expenses were s22.es5.-
ssi.o4-increas ss4s, ose-02, or $50
per cent.
Ne. operating revenue was sti,s54.-
dss.73-increase sssi3s2.5l, or sol
per cent.
faxes were si,o14,21s.s4-decreas
$53.633.ia. or 4s4 per cent
Operating income, taxes deducted
Was s1o,s3s. ass.Ta-~increase sei6so25.-
TO- or s.42 per cent
Miscellaneous income was si.s0s.
$50 .so--increase s2&7,T4s.iT, or 1881
per cent
Rentals and other payments were
sss2.ofs.f7--deerease s3Ss. eos.17, or
as.T0 per cent.
Income for the year available for
' interest was s,l,6is,5t2. 52-increase
2l.4ss.oSH-U1. nf+S-sl tST cent
Interest (6S.2I per cent of amount
available) amounted 10 s7,s+2, 3o6.ts~-
increase s45275s.s4. or 65T per cent
Net income for the year. equivalent
10 s.Sl per cent on capital stock out
standing. amounted TO st.2I4. 200. o.
increase si,045.s2i-2e. or $40 per
cent
Dividends paid during the year
-Four dividends of l IA per cent each,
sEgregatIng ys.1se e.. So
Remainder. devoted IN Improvement
or physical and other assets, T.l34.-
s7s53.
The outstanding capital stock was
reduced during the year through the
conversion of $500 par value of 1rs'
preferred stock into common stock
The changes in funded debt In tbs
hands OF the public during the yea,
were as follows:
IL per cent secured gold notes
increase. ss.50e.00o.
IL general mortgage bonds in
crease, $4,000.
4 per cent Greenbrier Railway com
pany. first mortgage bonds, decrease
$4,000.
Equipment trust obligations. de-
crease. $2iis-67i-34.
Total Increase. $3.50 goo; de-
Crease. A2.Isl,ht1aSf
Net increase. $t.T3s. 52S.ss.
Other changes in funded debt
shown on the balance sheet of June
30. 1912, were:
!, per cent first iian and improve
ment mortgage bonds, increase, S22.-
4ss.000.
Der cent Raleigh and Southwest.
ssrn Railway company first mortgage
bonds, increase. STA, 0eo.
4 per cent Coal River Railway COM
pany first mortgage bonds, increase
$4,000
per cent Big Sandy Railway COM
pany first mortgage bonds, increase
$1,000.
per cent general funding and i'm.
proyement bonds. decrease, s6,7S1,-
600.
Equipment trust notes of November
Is, 1903, decrease. $3,lT0,o00.
None of the first lien and imporve.
ment mortgage bonds issued during
the year have been sold, all Of them
with the exception Of small amount
in the company's treasury, having
been deposited as collateral for 49,.
100000 of outstanding 1-2 per cen,
secured gold notes. These bonds
were issued during the year and were
authenticated and delivered in re-
pect of the acquisition OF certain
stocks and bonds. for the payment oil
certain equipment obligations. and
S5,00O.00o, face amount for addi.
tions and betterments
The IL per cent secured gold
notes issued during the year weer sold
to provide for new equipment and
other additions and betterments: this
- ner cent general mortgage bond.
were issuVf FOR the building of addi-
tiouai second rack: and the Raleigh
and SouthWestcrr, Coal River and
big sandy Railway company firs,
mortgage bonds issued during the
!, year were. acquired ,by. ,your company
in reimbursement FOR capital expendi.
lures made for account OF those
branch tines and remain In your COM
pany's treasury. The decrease in the
amount Of 8 per cent general funding
and Improvement mortgage bonds
outstanding ID due to the pledge Of
that face amount OF bonds acquired
: by your company Two Years III. ago,
against which like amount of first
item and Improvement 4eFtgage heads
have been issued. and other decreases
shown above In amo,fnts OF Outstand-
- fft0u3tnuAA On G4cuud p4xel