The Sunday telegram. [volume] (Clarksburg, W. Va.) 1914-1927, 1915-10-03
IS|IOT
ENTITLED TO A
RATE INCREASE.
Breaking all Records as a DiWi-
dend Producing Road, Says
Journal.
az George Q. McIntosll.l

In well displayed news article in
the Wall Street Journal. in its issue
Of Saturday, September Is. 1T is clear
" shown that the Norfolk. and, West
erh IS breaking all records as divl-
q dsnd producing road. The news ar
ticle is as follows: 's
NORFOLK AND WESTERN tss.
AT ALMOST ITS TOP PRICE
August Earnings of Record. Proper
tons and July Surplus Gained
4 Sixty-nine Per Cent.
II Norfolk and Western Is now selling
at the highest price IN its history with
the exception of short. period in
1912 when top figure of 119 IA was
reached. The low point this year was
90 1-2.
The August earnings of Norfolk and
Western are known to have been Of
record proportions, although actual
figures have not yet been reported.
July surplus over charges amounted
T to s ,S5l ,1Ss, compared with $797,OSS
the previous year. gain of S5541il2,
or sixty-nine per cent.
In the 1876 fiscal year the road
earned a surplus equal to S.7S per
/ cent on $aCs 10000 common stock,
compared with $50 per cent on $107.-
1880 common stock In the 1914 year.
The soft coal tonnage both to sea-
board for export and westbouue has
been exceptionally j, heavy in recent
I months. lit IS authorltatlveiy stated,
also, that merchandise traffic lately
has been very satisfactory.
Norfolk and Western is probably
the sole railroad regarding which
there have been rumors OF dividend
increase. In this case there are GER
tain interests in the company which
expect higher dividend rate on the
common stock before the close of the
present fiscal year, IL earnings con-
tinue at all as they have been in re-
cent months.
The chief-almost exclusive-busi-
ness of the Norfol k and Western
railroad is the transportation of coal.
q Its coal movements east and west are,
perhaps, about equally divided. All
of its coal tonnage originates in West
Virginia and Virginia. Its present
"
upon the increased demand in the
markets for West Virginia coal. Pure
ly and exclusively the reason for the
increased business OF the Norfolk and
Western Is the ability of the coal pro-
ducers along It's line to reach the mar
kets on competition basis with the
producers of rival fields north Of the
Ohio river. 81
1t must naturally follow that any
increase in freight rates imposed nv
the West Virginia coal carriers mon
the coal producers will serve 10 mini
mlze the shipments. IL not entirely
rembye the west virginia coal nrod.
uct from the markets affected nv the
proposed increased rate The margin
OF profit to West Virginia nrodicers
Is Ifnuch less than the nronosed IN.
crease Of rates. In fact. in some
fields the selling price Il hui slieht,s
very slighyy-aboye the cost Of nro.
iuction. =
The nnblic will natnra11v ;n,r;ra
why It Is that the Norfoli and Was.e
i ern and other west virginia ra,,ro.ds
while fully nossessed Of information
/ concerning these condit;ons should
] arbftrarily without conference -,
1. communicated with tba;r shinnk,.s
seek to, ENFORCE rate that wom,S
eliminate Wast v;ra;nia col sro, mo t,,a
no,rthern ana western NJ s,te,sa W
The contention nada Nv n,anm u,a,.
4 virginia coal nrodncer. hoe Sssn | tsst
the lines. for this sct,on- nn ltba n .art
of the West virgins carr,ers wera pa ~
iaifi ri The otiasas ~ IIosa r;;hs 80 g..
troll the Pennsylyania railro.d vh S
syatem IL IN contrn1 :; tSa ps Ns Mn.Is
ana Western ana e nnt con+ reI1 ~
"A certainly IN close touch With athe.
west virginia ra;IrosJs ads "'sA osAs4
That the Norfoir and w.s+ar, s
dominated nv the spennsv,rania -
al sleast. that ;ts nrnsnar,ty 10 rat f ~
ed upon that great system ia rerssi:
"A in 4 naraersTb annear;ns n tha
same issue 81 ihe Wall street '1onrnai
Z but nndar another haadins Tha ~. no !. !.
aFrauh "a as follows. - 80 p'As
apart AZ the stranytb ~ pan,sv,-
yania was due to t6e nrobabil;ty ~
;the Norfolk and Western dIv;dend vii,
\ - - -, -. - = -. "AAA