Spirit of Jefferson. [volume] (Charles Town, Va. [W. Va.]) 1844-1948, 1913-09-30
The Valley Branch Of the B. 1 0.

railroad; George +. Randolph, first
vice-president; C. w. Woolford, secre-
tary: Jacob w. Hook and David B.
Stewart, the two latter being the
representatives of the City of Balti-
more on the board.
The balance sheet shows the capital
stock of the company to be S2.7I5. 400.
OF this, the Baltimore and Ohio rail
road company owns 81, 704 300 and the
City of Baltimore 81 1000, 900. the city
and the railroad having made the in
vestment jointly shortly after the war
at the solicitation of citizens of the
Shenandoah Valley, committee of
whom was headed by General Robert
E. Lee.
The stock subscriptions of the Valley
Railroad while providing for grading
much of the entire line from Harrison
burg to Salem, had only made it pos
sible to complete 26 miles of the road
between Harrisonburg and Staunton.
In 1882 the Baltimore and Ohio COM
pany advanced $750,00O for which it
received bonds of the Valley Railroad,
the proceeds of which were used for
the completion of the line to Lexing-
ton, q distance of SO miles. While
something over 81, 100000 had been
expended for grading and masonry
work on the line between Lexington
and Salem, this portion of the lire was
never completed
The statement of the operation of
the road for the past year. as sub
mitted to the directors al the meeting,
shows gross earnings of 5000, 1884, an
increase of $27. O23 so. The total ope-
rating expenses were $255, 140.3l, an
increase of 1872. 402 The taxes were
$40, 651, while otner income was So, III,
total income showing loss of S57 508.-
80, a decrease of S54. 1913. Charging
the interest on the $3.50. 900 funded
debt. s45. 900, the net income would
show loss of $103, 220. Of the large
increase in total operating expense,
$82, 402. 19, $I1, It's was in transporta-
ton expense incident to increased
mileage and increases in rates of pay
to employees. The principal item con.
tributing to the increase was in main
tenance of way and structures, which
increased SGT 228.
| Speaking for President Daniel Willard
who was absent from the city. Second
Vice-President George nj. Shriver ex-
planned that the large increase il
maintenance was incident to an ex-
tensive program of betterments inaug.
urated more than year ago for the
general rehabilitation of the Valley
Railroad. The road had heretofore
been ballasted only with cinders anC
dirt, Mr.. Shriver explained In connec
ton with the betterment program. anC
the 60-pound and 67-pound rail with
which the line had been laid many
years ago had become so worn as Il
require renewal; and that while The
road had heretofore been maintained
in thoroughly safe condition. it seem
ed desirable to the management tt
bring it up to a standard in keeping
with modern ideas with respect II
branch lines of the Baltimore and Ohm
system. The program for relayins
the 62 miles with 85-pound rail involved
the laying of over 5000 tors of rail. a
cost approximately of $175,00 ant
Mr. Shriver further said that to ballas
the entire line with stone it was esti
mated that 240 900 tons of ballas
would be required, at a cost approx
mating 1874, 600, making total cost O
1915, 900. On account of this worl
there was expended during the curren
year $62, 900. which with SIS, 600 expend
ed for strengthening bridges, account
ed for the $67, 900 increase in mainten
ance expenses. The balance of tn,
work, it is expected, will be EXTENDED
over the ensuing two years or more
Other improvements were included
in the betterment program, and tn,
attention of the directors was drawn
to the fact that during the past year
commodious passenger station, thor
oughly modern in every particular
was completed at Lexington. Station
improvements are also in contempa
ton for Staunton and other points
and with the new stations at Harrison
burg and Lexington, it is believed tina
these buildings compare favorbly will
any terminals in the Shenandoah Val
ley.
Daring the past year the Baltimore
and Ohio substituted considerable,
heavier power for the light engines
which have been operated on the Vale,
Railroad, and every effort is being put
forth to maintain the service of III.
Valley Railroad on high plane
1t was noted with considerable salts
!, faction that gross revenues of the
Valley Railroad for the year had in.
creased $27, 023. ard the hope was ex.
pressed that the cooperation and sup.
port extended to the line by it's patrons
) would justify the large expenditures
which are being made.
The directors representing the City
of Baltimore We're assured of the
willingness and desire of the officers of
the Baltimore and Ohio company to
furnish them or the city with any and
all information in their possession with
respect to the Valley Railroad of Vir-
ginia.
asb aHE