West Virginia argus. [volume] (Kingwood, W. Va.) 1877-1946, 1916-01-27
(By G. G. McIntosh.)


which are proof that the d,mand OF
the N. & 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, il was
1913 per cent. This was a gain or
about one per cent over the report for
1914. About five and one-half per cent
of the total tonnage was lumber; nine
and one-half per cent was manufac-
tured articles; about four per cent az.
ricultural products; nearly two per
cent was cement, brick and lime.
Other commodities sank into insignia
canoe.
The construction OF the road and it's
equipment is especially designed for
the carrying Of coal. The stability of
the road and its 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
N. & 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 a 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 1t carried nearly twenty mill
lion tons;; in 1915 nearly thirty mill
lion tons.
The N. & w. apparently obtains
rates S.24 per cent higher for coal
transportation than the c. & o. The
average rate appears to be 9235 cents
per ton transported. At this rate, the
present traffic of coal on the N. & W.,
which is placed at 27,935,O0 tons for
the year, means a revenue from that
source of $25,797,9OO.
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 $20,220,000. Estimated
charges and taxes to come out of this,
amounting to $6,366,5OO, will leave
surplus for dividends for the year of
S13,S53,500. These figures, It is pro-
vided, come from rough estimates, adj
vance figures not being available. II
Is claimed, however, that the estimates
should be fairly close.
Norfolk & Western common stock
Is now earning 11.8 per cent, as COM
pared with ST. per cent in 1915; 1917
per cent in 1913; iii per cent in the
very prosperous year 1910.
Norfolk & Western stock is de-
clared 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
years ago, and the fixed charges have
been reduced to low proportions. This
statement appears: at is doubtful II
another road in the United States can
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
to be made the victim OF a conspiracy
on the part OF the Pennsylvania rail-
road (its owners), and certain fnan-
cial 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
that II is unbelievable that the officers
and others 7terested in the N. & w
and other West Virginia carriers are
In this fight for a rate increase with
any heart. They have been made the
puppets in a scene contrived by inter
ests outside the state
IL can not be believed that the won
derful state OF .rosperity outlined
above for the " & w. would exist II
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 III to the railroads as well
as the coal producers.
The corresponding advantage in the
stimulation OF the coal industry else
where and the railroads serving Il,
will explain the interest taken IN the
rate-raislng project IN West Virginia
BY the Pennsylvania railroad and tho
STRONG financial interests" that are
allied with n IN the scheme
Keep IN mind the fact that the Nor.
folk & Western Is owned by the Penn
sylvania, and that It's present course
O. being directed by that railroad.