Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1916-07-11
STOCKHOLDERS TO VOTE
ON STREET CAR MERGER
Virginia Railway and Power Com.
pany VIII Increase It's Pre-.
ferrcd Stock S1,0OO,OOO.
TAKES OVER HENRlCo ROAD
Railway Men Who Accompanied Vir-
ginia Regiments Through South
Tell OF TriI-Seaboari Air Line
Makes Good Showing.

Stockholders o! the Virginia Railway
! and Power Company will meet in spe
cial session July 20, formally to an.
prove tho plans for tho merging and
consolidating of the Richmond and
TIenrico Railway Company with the
older traction company, which has been
approved by the board OF directors of
tho Virginia Railway and Power Com
pany. The board of directors has sug-
Eestcd the issuance of 1000, 600 OF pre-
ferred stock to retire the indebt edness
OF the iicnrico Company, and the stock
holders viii he asked to ratify this &C
ton.
In addition to providing for the re
tiremcnt OF the Indebtedness OF the
defunct company. which wns acquired
by the Virginia Railway and Power
Company in the spring OF 1915 at Il
receivers sale. the new bond issue
Will also give the company additional
working caDital. increasing the pre-
fcrrcd stock from $4,000 900 to So,Ouo.-
oeo. The traction company will then
be capitalized at s2i.0o0,o0o The adj
ditional stock, however will not be
sold 10 the public. but placed in the
treasury of the company TO be dis
posed Of as the board of directors
deem most advisable.
Richmond railroad officials. who &C
companied the special trains handling
the First and Second Regiments ~
Virginia Volunteers as far as Rir
mihSham. WHO returned to the city
yesterday. said that the trains had been
well handled through the Southern trim
ana mat the soldier boys made no COM
plaiht oil the accommodations furnished
them. Several stops were made while
en- route that the troops might lcnv.
the trains for few minutes for cScr-
cise Coffee was purchased by tho Of
hcers IN charge as only dry rations
h'n been provided on the train.
Both regiments. while one left Rich
mona practically twelve hours earlier
IMAM the last one, arrived I'm Birming-
nam at almost the same time the
second regiment making the fastest
.'me OF the two. At that city tho
troopers were transferred from .hc day
coaches to tourist ears and were ,bl,
10 cohlpietc the trip in greater com.
Tort While there was some criticism
OF inc railroads in handling the troops
caused entirely by the military au
thorities not having their commands
ready Tor entertainment at the spcci-
ned time, tourist cars had been pro-
Fided by the railroads for tho Rich
mona soldiers, but they were com
mande"red by the War Department for
the movement Of other national guards
men.
during the fiscal year lust closed
mo Scaboard Air Line Railway Cam
panE earned more than = per cent or
us S'a.N"i.lo outstanding preferred
STOCK, after all charges and tho nav
nicht OF the fun Il p"r con; on tho nd
1usfmcnt income bonds The uroe.
earnings OF tho road for the wear ar
eresated $4,000, 0O0 which is. how
ever. not new record for tho pron
cry inasmuch as conditions brought
anont by the decentralization In lumber
cot'oh ana phosphate trades ms n rc
sun OF inc war have not yet di.ap.
pcarcd.
me recovery from the low level fol-
| '""lho the outbreak Of tho var is
nevertheless substantial. and for the
year gust closed gross earnings show
All increase of a little mcrc than IL
per cent over 1915. Conlpared with
| !he h'Fh record year. 1914, the earn
.mtS OF the road decreased 3s Der cent
inc net earnings. after operating ex
PchScS and taxes for the past year
we're S'.""o."on. The figures for the
Yea include those OF the Carolina. A.
'''.'ic an" western. which was CONSOLE
dated with the Seahoard some months
ago. '''o"'"H
inc property ia being steadily i'm,
proved ana this course will he of moro
,'sti"S benefit than il the funds ha,,
zen diverted TO the Stockholders The
oi" Pany has under construction a new
'i,e between Charleston and Savannah
when viii. it is expected. be In onera
| ton by November