Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1914-11-23
SOUTHERN RAILWAY HAS
FINANCES WELL IN HAND
No Large Obligations Mature Dur.
ing 1915 Apart From Richmond
and Danvilfe Mortgage.
NEW WORK is PROVIDED FOR
Improvement Is Shown In Freight
Locomotive and Train Efficiency.
Double-Track Work Goes Forward
Steadily Along Main Line.

X Apart from S4.722,000 Richmond and
,oanville per cent consolidated mort
gage bonds and the usual instalmcuts
ct interest and principal OF Equipment
notes. the Southern Railway has no
maturing obligations during the cur
rent fiscal year. according to the Wall
Street Journal. On July |, S241i.Oo0
Western North Carolina braus maturrd
aud We're paid on.
Toward the latter part OF tho 1914
year. the Southern Railway m:tnag !.
men', finding the money market scarce
" right for the sale OF It's lony-tc-m
securities, disposed of $4,000. 900 s per
cert three-year notes to provide funds
Tor the completion of improvement,
contemplated several years ago. About
q re same. time the company sold equip.
rl"n; notes To acquire rolling stock
costing over S5.O0o.00o. Since chen So
100000 Atlanta and Charlotte All. Line
hallway IL per cent bonds nave been
sold, making available sufficient funds
TO complete ouble-tracking on :.u OF
the main line between Washington and
htianta, except the Air Line This
financing, except. perhaps. for ,he small
maturing issues mentioned above. Will
probably carry the company through
the 1915 fiscal year.
In consequence of these transactions,
and due to uneNpeuded balances. tic
cash account of Juno 80 last showed an
increase of something over $1,000. COO
above cash Hiiown.4n the balance shee;
OF the yehf previous. Despite this &C
suuisition Of casl. the total Of current
assets. not including s5,0S06a9 ma
sterials and supplies, slo.652,200 securi-
lies held In the treasury and S435.5Sa
marketable securities. exceeded current
Ja DiiitlcS By ONLY SJ.GtS.glS
STATISTICS OF TRAFFIC.
AND TRAIN MILEAGE
Nmons It's working assets are sched-
.nled Slo,652.2O0 securities issued or as
Sumed. held In treasury, as compared
with S27.l4S.SGO OF June so, 1913. This
decrease OF almost s1l,50o.0oO is cx-
planned by the increase of s166G7 900 II,
bonds Issued or assumed, pledged"
by the placing of the latter amount as
collateral for the three year notes sold
last March. The additional amount ot
the bonds pledged was due To draw
ing into the treasury, in accordance
with the terms Of tho mortgage, Of
S5,lSl,cVu Of the general ana develop.
ment is.
Statistics Of traffic and train mileage
for tie iai year showed improve
lnrnt In freight locomotive and rain
efficiency. Revenue ton miles decrcased
O.lo per cent aid the average haul
"''c ~ 'Sh'' bht 'li'iEiiN tram
mile revenue gained 6.29 per cent
This vas due to "a decrease in revenue
freight train mileage OF 5.3l per cent
and 10 an increase in the average train
lead OF GA per cent.
Passenger traffic results were not
particularly satisfactory. While num-
hcr of passengers carried one mile In
creased o." 'pcr cent. and passenger
train mileage Increased 5.63 per cent
pAsscnS.r scrvic: per train mile de-
elircd o.!3 per cent. Average receipts
per passenger mil" fell 0s3 per cent
and the decrease in passenger car load
ing ofrsc; the increas" IN train load
iIll.