Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1915-10-30
JITNEYS CUT INTO
TROLLEY RECEIPTS

/
while the operation was being con-
Quoted ~ tho close OF the fiscal wear
ended June 30. 1915, il was discontin-
ucu III September. In the meantime
nc independent operators who started
INC business in March had gradually
dropped out until there were at the
close OF the fiscal year very few Of
those who originally started still i'm
the business. and the experience both
IN the territory served by this COM
ranN and elsewhere has demonstrated
that tho cost OF this service Is largely
ia cAcess of tho revenue. Like other
tadS III the trans portation business If
is believed that the Jitncy Bus viii
soon pass out OF business
IN Norfolk and Portsmouth this
company "id not operate any huSscs.
bur independent companies were
tor,ned in Norfolk for this purpose.
which companies soon met financial
disaster and the business is graduailv
diving out in this territory"
REVISED SCHEDULE OF
LIGHT AND POWER RATES
The report draws attention Ia tho
revised schedule OF light and MOWER
rates which Went into effect on April
l. 1919, pointing out that while the
new schedules which were put into
"nc', IN Richmond. Petersburg and
SUFFOLK have resulted ana will result,
IN some decrease ia the revenues OF
TN" company from this source /, Is
believed that this is Offset ny the more
equitable and satisfactory conditions T.,
me customer which resulted there
from"
The Ocean View accident Of Ju,v
1914, Mr.. Wheeiwr!ght reports in,
VOWED an aggregate cost OF the set
Element Of claims OF Sln1.Sl6so TLe
settlements. he reports. we're made
promptly and without serious Iirica
ton
"As a result of this accident" the -.
port continues. lin addition to tho zen.
crnl accident experience Of th,. com,
lahN. the payments and expenses on
account Of injuries and damages ror
IN" hs'ai year ended June 80. 1919
nmounl"d to S2"3,26I.@2 az against
- l',"I'.A? for III" preceding fiscal ,ca,.
The payments for the current vc,r
amounted to $ol.i2@.24 in cxccs. of ill.,
amount reserved which. after absorb
ing the surplus which had accImul;,,,l
in this fund, left :. deficit of sioioo az
against this reserve. The board ,f iii =
rectora therefore Increased the amour,
Of tho reserve on the Norfolk ana
Portsmouth divisions from 1; per conf
10 per cent of the gross transport,
ton receipts. and this increased re.
serve is rapidly absorbing the dcticit
thus created as Il result OF this acct
, dent.
IA portion Of the increase in charges
for injuries and damages during tia
past fiscal year shown above was duc
TO an unfortunate accident eXncrirnre
/ on the Richmond division. where there
We're several fatal accidents To ncci
this condition ana to restore ;hc sur
, plus in the reserve for In iuries and
damages which !; j. the policy of In.
company TO maintain. the AMOUNT Pc.
served on this account for the Rich
mond division was incrcused from . :,
per cent TO per cent OF the gross
transportation receipts beginning on
July |, 1875. With these increases in
the charges for this account the in
jurics and damage reserve should in
, the near future show an accumulated
surplus sufficient to provide ADEQUATE
protection against unusual 81: uney-
pe"ted accidents
While no new main tracks were
mileage OF tracks. especially in Rich
inond, was rebuilt and additional sid
ings and turnouts constructed
The statement Of assets and liabili-
Ties shows that thc company's total
assets arc valued at S505HS.SSSo an
increase Of $2,o3l, 1l6.97 over the assets
ct the close OF the preceding fiscal
year. The expenditures durim,, the tis-
| cal year for additions. extensions and
capital account amounted Il S3aG.
, HaSiS.
/ During the year the company car
/ ried 1G,?77,ilS passengers. ~ 4.a93.3 :.
( less than last yeaI. OF The number car
/ ried 62,27i.603 were revenue passcn-
( gers. and li706,1i5 were transfer and
free passengers. The average fare per
! passenger, including transfers. was 3 Z
, cents.