The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1913-11-04
Street CAR LINES
REPORT BIG GAINS
Virginia Railway and Power
Company Closes Its Most
Prosperous Year.
MANY IMPROVEMENTS MADE
Offers Free Uniforms TO Emu
ploycs Who Have Clean
accident Record.

The fourth annual report OF the vir-
.inia Railway and Power Company.
made public yesterday, shows the most
prosperous Year Ia the history OF the
company. which operates street rail i
gay and electric lighting lines in Rich
inond. Petersburg. Norfolk and Ports
mouth Extensive improvements have
been made during the year. and others
are in contemplation. The new Office
building of IN" company Inns been com
pieted ana put into use. and plans have
been submitted TO the city Council Of
Norfolk for Il complete rcarraugcmcrt
Of the system or street railway trans
rortation for that city. including . re-
duction OF fare 20 the six for . cents
basis now used IN Richmond.
F!nanc'n! Statement.
Tho financial statement for til. fiscal
year ending June 50 follows,
Gross earnings for the fiscal year
amounted TO $4S6i.loI.2l an Increase
over the preceding year of $305.913.2o
Operating expenses and depreciation
amounted 10 $2.ii6.9SS.0j. y decrease Of
$5,3l5-37 leaving the operating reve-
nuc Owe: and above expenses S2,+i7.-
li9l5, an increase over that Of the pre-
c"ding Year of $3liS2S.9G. Taxes and
licenses amounted 10 $27i.5S9.7l. FIX
ed charges aud rentals, including inter
est on the funded debt. amounted TO
Sl225.si leaving the surplus for
the year over fixed charges Sl.o33-
81 -. an increase over that OF the
preceding year OF $252.0Ti33 other
charges including discounts. reduce the
surplus over all fined charges 10 S.S3.-
lII.2i. This was disbursed as fol-
lows: dividend 81 l = per cent on pre-
icrred stock paid January 10. $l92.4So:
dividend of - per cent on preferred
stocl; paid July 10. $I92.ise dividend
on common stock OF i per celt paid
b.. 81 III : . IA.
! l. per cent OF common stock paid
April 10 1919. Sl7?.25o; total dividends
S"S3.IVa, surplus after payment of divi-
bends. S2ao.i6 81
Operates FOL Miles OF 'Trnck.
The company operated during the
year total or 25l miles of track Of
which ilfty-cight miles was located In
Richmond. fourteen miles in Henrco
twenty-five miles in Chesterfield. nftv-
i've miles III Norfolk city, thirteen miles
IN Portsmouth. and siXty-nine miles in
Norfolk County or the above. fifty
eight miles is double track, lis miles
single track. and fourteen miles sid
mGs. To operate this track, IL had IN
uSa IN Richmond. Petersburg and on
the interurban line lOl double truck
cars and iaS sinele-trucli cars: and in
Norfolk ana Portsmouth, II" double
trCch and forty-three single truck
cars. The track mileage in Richmond
ana vicinity has been decreased BY the
sale OF the Seven Pines Line. In Pc
tcrsburg II has been Increased bv the
construction OF extensions TO the Syca-
/ more Street and Halifax Street lines.
/ The track mileage IN Norfolk has been
decreased b.: changing tho Mason's
Creek line from double 10 single track
taking NJ dead track to Marine Bar
racks reservation, ana remeasurcnent
/ Of all lines.
Twenty New Cars.
E'EnrlI.l In.
traffic congestion III Richmond. au-
thoFl@ed the purchase az twenty new
steer side-entranC" cars To cost Sl4c-
600. I" he delivered shortly \ large
hulneer OF cars We're rebuilt. length
ensd and improved No ferries have
been operated ~ the company. ferries
between Norfolk. Ola Point and New
port News. formerly operated by the
company. having been leased The
pe" power station No. > at the foot
~ twelfth street. Richmond, was put
INTO operation March "a. Increasing ,ie
capacity OF the light ma power d.,
partment 5000 kilowatt The trans
mission line between Richmond ana
Ictcrshurg was completed March
The work 81 rchahilitatinr the limos
iorlherlN owned by the Norfolk and
portsmouth Traction COMPANY bas
been progressing steadily. Sla7.4437s
having been expended during th, y.,,
bonds Are Sold.
The capital stock of the comnanv
outstanding Is; preferred. s7.699.Io
common, 81 l,33o,5O0 During The vc,r
Soo"'ooV face value first mortgage >
per cent bonds We're sold to bankers
ana the proceeds used as provided IN
INC mortgage FOR additions and bet
tcfments. The bonds OF the Norfolk
City Railway Company. aggregating
Sl@o,ooo. maturcd January /, and the
entire issue has been paid. During the
year $4,000 old Richmond Railway
ana Electric Company bonds were ac-
CURED, leaving only $1,000 In The
hands OF the public. Efforts are being
made 10 acquire and cancel the entire
issue The total funded debt Of III.
company. including all lines. on June
30 was 2l.63i.12 1906 with n sinking
fund OF S2.3i2,373.75. In tho general
balance sheet the plant. property. fran
chises and privileges are valued at
Sao.o65. ol.S3, and the total assets are
SiS,o52 l1i.5l. In the liability state
inrnt Sl.22S.,76.oi is charged 10 the
profit side Of the prunt and loss ne
count an Increase Of S39a.46S. 81. as
shown in the foregoing statement of
surplus after payment OF dividends
Outlay for Hcttcrments.
During the year there Was expended
Tor permanent bettermcnts and charged
10 capital account in Richmond SlG7.
1875; Norfolk S22o.%3+.t1 Portsmouth,
Si7.47",io; total railway department..
Si7o.S49.7i: light department in Rich
mond, siiS.41l 80. Norfolk S53.997ii:
total light department. SS5G.629.43; gas
department Norfolk. $5G1i6.2l; new
! -. u ~.