Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1914-11-18

less taxes decreased s976,5a0.0s, or
s.73 per cent.
The ratio OF operating eXpenses and
taxes TO operating revenues was 1910
cent for the previous year
DEMONSTRATING RESOURCES
OF SOUTHERN STATES
The number OF miles operated June
SO. 1919. was +.s6l.o5; the average
mileage operated during the year was
4.64s.+5; the mileage owned June so
.3i4, was i.6S7.74. and tho double-track
mileage Juno go. 1919. wns 2sa.So
During the year. the report says.
q demonstration car. containing an
exhibit OF agricultural resources OF
tho six States through which the line
runs. accompanied BY tho agricultural
and Immigration agent, was sent TO the
Canadian Exposition. at Toronto, and
10 State fairs In New York and New.
- England.
"a number OF land companies hive
been organized during the year !n tho
territory served by your line, which
are devottng their energies to the sale
or farm landa to homesceleers. There
were 2.9l3 heads OF families engaged In
agricultural OF Industrial pursuits. To-
Gated or, your~line during tho year.
There wero 207 new Industries, In /.
Guiding mills. factories and various
manufactories. located on your line
during the year. There were 252 In
austria! sidetracks or extensions con-
structed during the year to reach new.
plants or to extend those already In
existence"
CoNDITIONs IN EUROPE
REFLECTED IN EARNINGS
The common stock outstanding June
~, 1918. was $6s,55S.0o0, an increase OF
$500. which was Issued In exchange for
$1,000 convertible debenture bonds ro.
tired. :
The preferred stock outstanding June
80. 1914. was $la6.700. decrease of
Sl.SoO. which was retired by the is
suance OF $4,000 Of new 4 per cent GER
tificates OF Indebtedness.
The report shows that the condition.
In Europe have been reflected to n
marked extent on the earnings of the
company, and that, in order to Offset
this loss In revenue, It will be neces
sary to inauguratc n strict policy of
retrenchn1ent and curtailment of ex
penses' and the cooperation and sup
port OF tho stockholders and of the
public Ia asked to aid In meeting this
situation.
Continuing. tho report states TINT
there. has been a heavy Increase in
empty freight car mileage OF I7.2 nor
cent, due mostly to tho increase OF idle
cars, which makes 1t desirable to ro
turn foreign cars TO owners instead of
holding them or sending them for
loads.
ohlcers and directors were elected
as Yollows:
II Walters, chairman of the board.
New York; ]. r. Kerly, president, VIII
mington. NJ c.; Alexander Hamilton.
first vice-president. Petersburg; C. S.
dadsden. second e-president, Charles
ton. 9. c.; Lyman Deiano. third vice
president, Wilmington N. c.: r. A.
Brand. fourth vice-president, whining
ton, N. ca Alexander Hamilton. general
counsel, Petersburg; H. L. Borden, sec
rotary and assistant treasurer, New
YORK; II. y. Cronly, assistant secretary,
Petersburg; Lyman Delano, assistant
secretary, Wilmington, N. c.; George E.
Elliott, assistant secretary, Whining
: tonS N. C.; James r. Post, treasurer,
Wilmington. N. c.; j. ]. Michigan, as
sistant treasurer. Baltimore; Joseph e.
Kirby. assistant treasurer, Baltimore;
j. Mouitrie Lee, assistant treasurer.
savannah Ga; w n. Royal, general
manager, Wilmington, n. c.; w. ].
Craig, passenger traffic manager, vii
mington, N. CO James Menzies, freight
traffic manager, Wilmington. n. c.; IT.
4. q Prince e0"ptrol'er' wilmington
Dlrectors-H walters, Baltimore:
Michael Jenkins. Baltimore; Waldo
Newcomer, Baltlmore; Warren Delano,
New York: M. F. Plant, Groton, Conn. |;
X. w. Scott. Richmond; Alexander
Hamilton, Petersburg; &c. 3. Borden,
| 4oldsboro;. N. c.; Donald MacRae, WIZ
minEton. n. c.; w. w. Mackall, So
yannah: Ga; Il, 3. Adams. New York
CITY,, II. L. Borden, New York city.
Executive Committee--H. Walters,
chairman; Michael Jonkins and j. f..
Kenly.