The Richmond Virginian. (Richmond, Va.) 1910-1920, 1916-11-22
A. c. |. DIRECTORS
DECLARE DIVIDENDS
President Kenly and All Directors
Reelected at Stockholders
Meeting.
BUSINESS VERY GRATIFYING
President Kenlys Report Shows
Splendid Growth In Income of
Great Corporation-Large Increase
In Taxes Noted.

In Taxes Noted
President J. r.. Kenly, OF the At
'lantio Coast Line Railway Company.
and all of the directors and other Of
ficers were reelected at a meeting OF
the stockholders held yesterday in the
Offices at Byrd Street Station.
Ono of the most interesting actions
taken by the directors Immediately
following the stockholders meeting
was the declaration of n 8 Ia per cent
dividend on tho common stock OF
the company. 1t II to be payable
January 10 to stock on record De-
cember 20. It was stated yesterday
: at the meeting that the earnings OF
the company for the past year have
been very good and the declaration
of the dividend was not unexpected.
, Other routine matters were taken up
, at this meeting and the annual re-
, port of President Kenny was SUBJ
mitted.
, At the conclusion of the meeting
1.-THE directors and officials OF the COM
, pany Immediately left on q tour Of
inspection over the entire Atlantic
Coast Line system. It Is expected to
|, last about ten days
The officers and directors reelected
& are as follows:
II. Walters, chairman Of the board.
! New York. n. Y; J. r. Kenly. presi-
dent, Wilmington, NJ. c.; Lyman De-
: lano. viee-president. Wilmington, N.
C.; r. A. Brand, vice-president, WILL
mington. n c.: Fl. l. Borden, secre-
tary and assistant treasurer, New
York y. Y: r. D. Cronly. assistant
, secretary Wilmington, N c.; T. F.
, Darden. assistant secretary, Whining
ton. N c.: James r. Post treasurer.
Wilmington. n. c.; J. J. Michigan. as
sistant treasurer. Baltimore, Nd. Jo-
seph b Kirby, assistant treasurer,
Baltimore. Md; J. Moultris Lee. as
sistaut treasurer, Savannah, Ga;
/ George 3. Elliott general counsel,
| Wilmington, N. c.; P. r Albright.
w. j. Craig. passenger traffic man.
ager, Wilmington, n c.: James Mem
izies, freight traffic manager. Whining
ton. y. c.; H. c Prince. comptroller.
Wilmington, ~. c.
Directors-H Walters, George c.
jenkins. Waldo Newcomer, Baltimore,
Md. NJ. F. Plant, Groton. Conn; r,
b Adams. Greenwich. Conn; Warren
Delano. H l. Borden. New York: r
t w Scott. Richmond. Va: E. B. Bor-
den. Goldsboro. N. c.: Donald Nc
Rae, George b. Elliott, Wilmington,
y. C; W. W. Macka!l, Savannah, Ga
Executive comnittee-H. Walters
chairman; J. r. Kenly and George B.
Elliott
= President Keniys report, IN part,
: was as follows: Cooperating revenues
! for the year, amounting to s34.445.-
2 1903. showed an increase OF s2.-
= eos ,635,45 or s.22 per cent over 1918.
T Your business has not resumed its
Z n
I the fact that In the year 1914 the
, operating revenues amounted to sse.
: s32,779- 81. II is very gratifying,
. however. that with increased bust
= ness OF s2,s0s.63545 over 1915, oper-
? ating eSpen ses actually decreased
$lo714sSl. leaving an increase in net
= OF So 015Ts4.2s. Owing to the fact OF
t the abnormal increase IN taxes, which
amounted 20 s204.s73s0, your net
! operating revenues, less taxes, In
, creased only s2,Sl1,l1o.36. This alb
5 normal increase in taxes may be IL
I Illustrated by the following COM
. parison: From 1907 to 1915 your
l gross revenues Increased s7.eT3,-
5sl,7s. or 2s-es per cent: your oper-
Z attng expenses increased 5000
( 63o.ss, or 1888 per cent
! Despite the increase of-s2 ,aaS.-
63545 in operating revenues. this in
! an actual decrease in cost due largely
3 to the increased tons per train mile,
the tons one mile increasing 335. 800
I 1875. or 22.6l per cent. while your
! freight train mileage increased only
9 365,753. or 5.44 per cent This was
. due largely to the increased car and
train loading. and the use OF super
t heated LOGON olives the average num-
= Der of tons OF freight a train mile
being 27435. as against 1855 In
3 1915 and 1859 In 1907.
= AT Richmond, Va, the passenger
s terminal facilities at Byrd Street have
become inadequate and 1t Is impossi-
q BILE to enlarge them sufficiently at that
I location. The board, after careful
1 consideration, authorized the officers
= to Join the Richmond, Fredericksburg
j and Potomac Railroad Company in
l organizing as equal Joint owners. the
r Richmond Terminal Railway Com.
= pany, formed to purchase the ole
: fair grounds" and such other prop
r erty as may be necessary. and to con
I struct thereon a passenger station and
: facilities which Will be adequate fol-
n the needs of the patrons OF both rail.
] road companies and be capable OF
1 further expansion when required. We
n believe the transfer to this new loca-
@ ton can be made before January
r 1918
Extensive development Of freight
facilities at Byrd Street. so badly
needed, have also been authorized
The Jacksonville Terminal Company
G at Jacksonville, Fla, Is used by five
railroads centering there. Its facilities
: have also become inadequate to han
4 die the increasing tourist travel. The
: terminal company. owned bv the five
T railroads Is now completing the pur-
e chase OF additional land necessary II
e build a new passenger station and
greatly enlarge and improve its pas
Q senger track facilities The com
a pletion of this Improvement will now
] be expedited in every way possible