Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1916-02-10
r., F. & STOCKHOLDERS
To MEET THIS MORNING
Will Pass on Recommendation OF
90 Per Cent Scrip
Dividend.
MAY DISCUSS STATION PLANS
Action VIII Add Largely TO States
Rcvcnue From It's Holdings in
This RailrOad-Alany Railroad
Men Visiting i'm Richmond.

! Stockholders of the Richmond. Frcd
cricksbnrg and Potomac railroad Com
| pany Will hold Il general meeting .his
| morning at IL O'Clock in the offices
! or the company III the First National
/ Bank Building to take action on tho
recommendations adopted by the board
! ot directors OF the company ut Il special
| meeting held in New York city on
! December 10.
Tho board OF directors. At this meet
ing. Following an urgent request from
the stockholders committee, Of which
Governor Henry g stuart was chair
| man. voted to recommend tho issuance
OF scrip dividend OF 80 per cent on
| the common stock and dividend obli-
gaN"ns OF tho company now outstand-
Ing.
This will virtually mean, IL the rec
concentrations are adopted by the stock
holders. that the share owners of tho
road, including the state OF Virginia.
VIII receive All Increase Of 40 per cent
III income from this source, provided.
OF course, that the present dividend
policy OF paying ? per cent annually
on the stock and obligations is main
tanned. 1t is proposed to pay dividends
on tbs scrip issue.
The request for tho issuance OF dlvi-
dcnd obligations was presented TO the
board OF directors in New York by
Governor stuart as chairman Of tho
committee, representing. with Second
Auditor Page. the interest Of tho state
IN the railroad. II WAS based upon
the excellent financial condition of tho
road, which IS ono of the hest pro-
duccrS in tho country o. cash income
IT was believed by I'll. stockholders
committee. which is composed of Gov
crnor Stuart, Second Auditor Page
ESbert &. Leigh. Ir.. Edmund Strud-
wick, Edwin y. raimer. James 4. Mon
cure and T.anghou!nc VI. Williams
tT-s ~.
easily bear the payment of additional
dividends, and it was agreed that the
payment had best take the form of q
scrip dividend.
The State OF Virginia owns a3proxi-
mately Is nor cent Of tho stock OF tho
Richmond. fredericksburg and Potomac
Railroad COMPANY. acquired two gem
crations ago. when the road was
emerging som its original status OF
stage line and becoming a rail thor
oughfarc between Richmond and Wash
ihSton. When the State assisted In
putting the ENTERPRISE on its feet. none
could forcSce the time when It would
become one OF the most denscly trav-
clcd and most profitable railroad prom
critics in the country.
II is probable that other mattcrs
including tho question OF erecting a
ne" passenger station In Richmond,
to be used Jointly by the Richmond.
Fredericksburg and Potomac Railroad
Company ana the Atlantic Coast Line
railroad Company, will he discussed
Business interests of the city are maxi
ing strong efforts to secure the early
erection OF the station, and TO such
an end conference between officials
OF the two roads and business men was
held last week
Among the railroad men visitors in
Richmond yesterday were w. II. New
ell, general superintendent OF the At
lantic Coast Line Railway, or Rocky
Mount: s. p. Strngfellow, assistant
general freight agent of Seaboard. Of
Atlanta, who was formerly purchasing
agent Of the road. with Headquarters
In Richmond; II. c. Penrcc. purchasing
agent Of the Scaboard. of Portsmouth:
r. i. HollinEer, travelling freight agent
OF the Texas and Pacific, of New York
City; Z. NJ. Decker. travelling freight
agent OF the Lake Erie and Western,
Of New York: Howard NJ. Morton,
travelling freight agent Of tho Penn
sylvania Union Lines. Of Ironton. o.,
and ]. w. Calvert. travelling freight
and passenger agent. with headquar-
n Nprfp1ly