The Richmond Virginian. (Richmond, Va.) 1910-1920, 1914-05-18
v|RGIN|AN'S
Possibilities
ROGERS ROAD MAY SECURE c. 4 o.
INTEREST IN
gXlEg a E;1.
F1yy7 r.
WESTWARD
FACILITIES For HANDLING COAL
is GREAT. WITH SUPERIOR
CONSTRUCTION OF
ROADWAY.
REACHING WESTWARD

NEW YORK. May 1.-THE Wall
Street journal of tomorrow will say:
Although the Virginian railway s
stock, preferred and common. is not
listed on the New York Stock Ex-
change. it has an interesting connec-
ton, not only with the business OF
carrying bituminous coal to tidewa-
ter from one of the most productive
districts OF the United States, but al
so with its possible extension west
ward.
1t was regarded as one of the pos
sible purchasers of the Chesapeake
and Oho's interest in the kanawha
and Michigan. which would enable 1t
to send coal to the lakes, as well as
to Hampton Roads. The road has had
a distinct advantage in Its direct
competition with the Chesapeake and
onto, not merely in respect to tapping
the same coal district. but because
of its facilities for handling coal at
tidewater. Its coal pier at Sewells
Point Is as good, or better. than that
of the Norfolk and Western; and GER
tainly better than that of the Ches-
apeake and Ohio at Newport News,
although the latter is now building
and will have completed in a few
days, a pier which can load vessels
with coal to the extent of $4,000 tons
day.
As it was first fioated the Virginian
was called the Tidewater Co, and was
the pet project of the late n. Fl.
Rogers He not only believed in 1t.
but in the crisis of 1907, he borrow
ed money for its bonds. and expert
enced the most huuiliating episode
of his life He could only get money
on an per cent basis. and had, more
I,rl f,tx
No doubt he would have made some
of his money back, hut he died too
soon to recover the loss on what was
an investment that needed nursing.
Proba bly, he would have been worth
$50 600. 900 more If he had lived a
few years longer.
Retains Stock
On its capital stock the Virginian
railway pays no dividends, but 1t has
not sold that stock to the public
It is practically all held by the bene-
ffciaries of the estate of II. III. Rogers
The funded debt consists OF s25,-
100000 of per cent fifty year bonds
with an additional $50, 900, 900 of the
same issue authorized Before the
preferred and common stock there
is. according TO the last annual re-
port, an amount of 2,42T. 900 of first
and equipment trust notes. This de-
benture comes ahead Of s27.779. 600
5 per cent cumuiativs preferred and
s34. $50, 900 common stock
No one who has travelled on the
Virginian railway could fail to note
4 how good the work done in construct
ing the road was done. and how well
/ IL compares with everything Of the
I kind ever done in the building of new
! roads: 1t Isl in fact, altogether too
| good Between New York and Phil
adelphia the Pennsylvania Is now
running on its eighth right Of way.
1t has Strengthened curves and cor
rected the mistakes of it's inception
that extent. The Virginian is running
/ on it's first right of way.
/ 1t has built q road which It may
easily have to abandon. The grades
4 are excellent when it energies from
/ the coal fields of the Alleghenies and
runs to the seaboard. But In the coal
/ fields 1t Is a positive switchback. To
/ run over the road in that region. in
/ an observation car with the iocomo-
tive behind. instead of in front. is to
/ experience every sensation Coney Is
| land could give The cuttings are
/ deep The trestles are built of steel
/ over large gaps. and are extensively
curved. The tunnels are numerous.
and admirably constructed The I'LL
/ ngs to emhank the road for some =
/ thing like a workable grade are such
1 as modern railroadng simply cannot
afford. Being very well built at one
! time. all this will fall In together. in
/ future years. The question will then
arise whether to renew II or to build
| different western connection along
| the river valleys
Fine Rolling Stock.
| Nothing is stinted on the rolling
! stock. There are Mikado and even
| Mallet engines to haul the coal, which
constitutes virtually the whole freight
traffic. But to get this coal out OF