The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1913-10-15
P ASSENGER TRAVEL,
HEAVY ON SOUTHERN
President Finley's Annual Report
Shows Million and Quar-
ter Increase.
FOUR DIRECTORS ELECTED
Stockholders Receive Fine Rec.
ord OF Years Vocabulary
New Industries. /.

Agricultural and industrial develops
ment in tho territory It traverses, and
marked increases In passenger traffic
are given prominent place In the nine.
tecnth annual report OF President Fins
Icy. OF tho Southern Railway. as fao4
tors contributing to the good showing
made by tho financial statement for
the fiscal year ending June so. 1913.
The report was submitted yesterday
At the annual meeting OF the stocks
holders held In the company's princi-
pal office in The Times Dispatch Build
ing. First Vice-Presdcnt a. e. Ana
drews, of Raleigh. presided The an
nual report for the fiscal year ending
June 80. 1913, was approved and the
following We're elected directors of
the third class for terms Of three
years: GeorG. T. Baker Jr.. Adrian
lselin. Charles I.anier and Edmund d.
Randolph.
Revenue Increase.
Net operating revenues for the fiscal
year were s2o 255 500 65-an increase
OF S311,255.34 over the net operating
revenues for the fiscal year preced-
ing. Gross revenues increased over
those OF tho preceding year s4,9S9.-
1870 Operating Expenses Increased
! Si,51"6ST16, OF which increase STA
per cent. Or more than one-half was
in maintenance OF property: 33.aS PEI
cent In transportation; 1862 per cent
IN development or traffic, and 1876 per
! cent In administration expenses APP
proNinateiv a7.6S per cent OF the in
crease IN tho cost OF transportatio
vas due 10 higher wage schedules
The passenger traffic OF tho com
pany.' reports President Finley, .lfas
shown n gratifying Increase during tho
%cnr. the increase in revenues there
from being S1,2sOG1S.07 An import
ant factor bringing this about is the
geographical location OF the system,
with reference 10 the currents OF com
nercial travel aud TO the summer and
winter resorts OF the Southeast
Increasing numbers OF conventions,
reunions. religious assemblies and sim.
liar gatherings arc being held ut points
on the company's lines. and in connec-
ton with tho religious assemblies there
- in progress noteworthy Develop
ment OF community life in the summer
resort regions In the mountainous ter
ritory served By the company. result :
ing in 4 substantial increase in travel
/ q, CT its lines"
Agricultural Development.
President Finley reports optimistis
oally upon the vast agricultural and
j. dustrial development In the nine
southeastern states traversed BY tho
company's lines-the percentage of in.
crease being much higher than is shown
for any other group of older States. He
Ctes the wider divcrsincation in farm :
iIg and the increased attention to live
stock.
The advantages or the territory alcng.
The company's lines for diversified man,
unfacturing have led TO continual de-
VI lopnent during tho year" says Mr..
Finley. Special attention is being
: Ven 10 the location of industries
hich use as their raw materials tho
products OF primary manufacturing.
and TO attracting to the Southeast in.'
'nstries which have not heretofore been
largely developed in that section"