Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1915-07-01
RAILROADS INACCURATE
DRASTIC ECONOMIES
Offset to Large Extent Decline in
Business From Cotton
Belt.
STATEMENTS ARE is
ISSUED
Seaboard and Coast Line, Heaviest
Losers From War, Will Still Be
Able to Earn and Pay Their Diyi.
dendS.

Financial statements Issued yester
day by the Atlantic Coast Line and tho
Seaboard Air Line for the month of
May show that the retrcnchment poll
cies Of these two railroads have cut
down their respective operating ex-
penses to such an extent that the heavy
losses In net earnings will not ma
terially affect the financial condition of
either Tor the fiscal year, closing YES
terday. The showing for Nav is the
pest made by either road since July.
1914. and foreshadowed further i'm
proving conditions during June.
The gross earnings OF both roads for
the eleven months from July / 1914
TO may 81, 1915. suffered heavily as n
result OF conditions brought about IN
their territories by the war in Europe.
The loss Of a large part of the cot
Ton market and the generally depressed
business situation in the South which
followed the staEnation Of cotton trad
ing, hit the Seaboard and the Coast
Line more seriously than any otbor
roads. considering the mileage OF zach
however, by introducing economies i'm
operation, the losses were onsct IN
some extent at least, and both ro,ds
are expected to pay their regular diyi
dcnds out of the earnings for 1o14I5
Inc Seapoard's loss in net operating
revenue Tor May was 10 per cent, com
p .,m Win the same month last year,
while for the eleven months ending
May 81, the loss was 90 per cent. rho
coast Lines loss for May was 10 nor
cent. and for the first eleven months OF
the fiscal year % per cent.
me gross earnings of the Seaboard
compared with s2,o49,393 during tho
sa"'e month last year, the decrease he
ing S2S6,987. At the same time the
operating expenses for the same months
vno reduced by s213.ss3. or from ST.
5o2.'3l In May, 1914. to s1,osS,Se6 in
V.
May. 1915. were s73,154 below that Of
inc same month year ago
During the eleven months ending
May 81. 1915. the gross earnings
e,uppca from s2a,467.26s during the
same period of the preceding year to
Sl9o5l.121, decrease Of S3S155a1
operating expenses and taxes were ont
from Sl7,o61.25o to s14.753,2o9-a de-
crease OF s2,SoS.o41, and leaving a loss
In the net earnings of s1.5O7. 500 for ,ho
eleven months.
me Atlantic Coast Lines report for
May OF the current year shows an on
Grating income Of s5653Oo ne CON-
pared with s629,o9296 for the same
nnonth IN 1914, loss Of s64,7a0.37. The
operating revenues fell from s3o55
sSl.69 to S2,596.949.13, while the onor-
ating expenses and taxes were rcd,,cod
from S2,426.7Ss.73 to s2o3l.64s.54 n
saving of S425.142.19 rs part offset Of
the loss OF S459,93+.5 in operating revc-
nue.. eve
For the eleven months endinr N,,.
81 last. the operating income vas
So.ooo'' o6.S6 as compared with sS.5S3
$685. for the corresponding ner;od ~
the preceding fiscal year
me total operating revenue for tho
eleveh months was s2a,2O9,2l4.05 n dc
crease of S4,772.6ll.G5 from tho toto1
or s3",9Sl, S25.69 for the first .,a,.n
months in the fiscal year cndinr ~
~, 1911. The operating expenses for
"a. me same periods We're reduced from
S2"'"'S,o2a.73 to s2257S.457.1o do
crease Of S2.S1a.57256. makinc NO lie.
In operating revenue s1.o52.o3e.
wee -President Campion and Auditor
1ohh a Meuse. of the Carolina, ClIncb-
neia and Ohio Railway. were callers
Mt the general Offices of the C.hcs,na,r
and Ohio yesterday for tho nmrnasn NC
completing arrangements for tho in
""suration OF through freight service
over the tikhorn extension Of this roo1
from Dante, Va, to Elkhorn CITY, Nv
Where it VIII connect with the Chesa
peake and Ohio. The service will ho
lnauEuratcd to-day with tho formal
opening Of the extension through tho
cumberland Mountains The wcstward
.ratiic Will consist principally Of coal
from the Ciinchfeld territory destinnd
LOT Lake ports and the Middle West
over the Chesapeake and Ohio. solid
trainioad OF Ciinchield-P Portland CO.
ment will be among the first trains n
go over the new line.
Last Monday the Chesapeake and
oh'o broke It's record for tho number
OF cars loaded In one day, tho total
nelng 2'265 cars. or a total of 1883
tons OF coal
Yesterday morning at the Chesapeake
ana ohios docks at Newport News
. mere were fifteen vessels for cargocs.
rms is an indication of the growing
Importance of Newport News as a mort
D.. M: HUFF. OF Washington. superin-
tendent of tn" Adams Express Com
pany' and Harry Daw. of Roanoke. di-
vision freight agent OF the Norfolk and
western were visitors in Richmond
yesterday.
Held for Grand Jury.
Carroll Lane, the young man charged
with the larceny of an automobile from
Z. +. Mingo. was held for the grand
Jury by ,JISticp