Belington progressive. [volume] (Belington, W. Va.) 1912-1927, 1916-01-20
n. & ". COAL TONNAGE
is EIGHTY PER CENT
OF Total Tonnage of This Re-
markabIe Railroad
Proposed Advance of Rates Would
Cripple Its Own Business as Well as
That of Coal Producers, But That
Appears Not To Matter To Its own
ers-the Pennsylvania.
(By G. C. McIntosh.)


which are proof that the demand OF
the N. C w. Ry. for advanced rates
On coal transportation Is not justified,
come from a highly reliable source,
and are trustworthy.
Nearly eighty per cent Of the total
| tonnage of the Norfolk & Western
| for the year 1915 was bituminous coal
and coal products To be exact, it was
1918 per cent This was gain of
about one per cent over the report for
1914. About FIVE and one-half per cent
| Of the total tonnage was lumber; nine
J and one-half per cent was manufac-
tured articles; about four per cent ag-
ricultural products; nearly two per
cent was cement, brick and lime.
Other commodities sank into insignif-
canoe.
The construction of the road and it's
equipment is especially designed for
the carrying of coal The stability of
the road and it's capacity to earn
money depends almost wholly on the
movement of coal. The road was built
from the mines to the markets served,
by the most direct route possible, and
| without special view toward the trans
| portation of other commodities. The
NJ & w depends on coal and has
profited in exactly the proportion that
the coal business has grown and pros
pered. While there was falling off
last year of 100000 tons in total
traffic, there was gain of about one
per cent in coal traffic, as has been
| shown.
| In 1902 the N & W. carried about
! five and one-half million tons OF coal;
In 1912 it carried nearly twenty mil
| lion TONS; in 1915 nearly thirty mill
lion tons
| The N. & w. apparently obtains
| rates 8.24 per cent higher for coal
sportation than the G. & o. The
| average rate appears to be 92.35 cents
| per ton transported. At this rate, the
present traffic of coal on the n & W.,
which is placed at 27,S35,O00 tons for
the year, means revenue from that
source of $25.797,90O
| The gross earnings of the n. & w.
| are now said to be running 22.7 per
| cent ahead of last year. An estimate
has been made and given circulation
| showing that the total net income of
| the road for the current year will
amount to $20,22O,O00. Estimated
charges and taxes to come out of this,
amounting to s6,3665O0, will leave a
| surplus for dividends for the year of
| s13,853 800 These figures, it is pro-
| vided, come from rough estimates, ad-
| vance figures not being available. 1t
| is claimed however, that the estimates
should be fairly close.
Norfolk & Western common stock
Is now earning 11.S per cent, as COM
pared with SIT per cent in 1915; 1917
per cent in 1913; I'LL per cent in the
very prosperous year lJIU.
Norfolk G Western stock is de-
! ,lared to be one of the most stable
and conservative investments among
all the railroad stocks of the world.
The funded debt is not so large as five
FEARS ago, and the fixed charges have
been reduced to low proportions. This
statement appears: at is doubtful if
! ~, INIT cd Cfafa
show so clean a bill of health
According to the theory of West
Virginia coal producers, this amaz-
Ingly prosperous railroad, serving an
amazingly prosperous coal section, is
10 be made the victim of conspiracy
in the part of the Pennsylvania rail-
road tits owners), and certain fnan-
,ial interests having the power to de-
clare what shall be the policy of the
Norfolk & Western and other West
Virginia railroads.
The statement will bear repetition
hat it is unbelievable that the officers
and others Interested in the n & w.
and other West Virginia carriers are,
in this fight for rate increase with
any heart. They have been made the
puppets in scene contrived by inter-
ssts outside the state.
1t can not be believed that the won
1erful state of rosperity outlined
above for the N. 4 W. would exist if
the rates that are asked for should
be granted by the Interstate Com
merce Commission. The loss of bust
ness that is bound to follow would
abound in i'll to the railroads as we'll
as the coal producers.
The corresponding advantage in the
stimulation of the coal industry else
where and the railroads serving It,
will explain the interest taken in tne
rate-raising project in West Virginia
by the Pennsylvania railroad and the
: strong financial interests" that are
: Allied with If In tho coba,oa