Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1917-10-10
s1HI B.
HAS PROSPEROUS YEAR
SSss S9F
Manual Meeting of Stockholders Is
Held in The Times-Dispatch
Building.
wo NEW DIRECTORS NAMED
Jnilliard and Reynolds Go on Board.
9 DIR. Alderman, Bishop Kilgo, Rob-
3 ert Jemison and Charles Steele
.fs Are Reelected Directors.

1 Are REFLECTED Directors.
Ssssa The election OF two new directors
ssAnd tho reelection of four directors
itwhose terms expired constituted the
S:principal features of interest Mt the
< annual meeting OF the stockholders OF
the Southern Railway Company which
stwas held in the principal office OF the
s9company in The imes-Dispatch Build
ing yesterday morning.
sSSfThe new directors elected are Au-
& EIstus D. Juilliard and jackson f. Rey-
&. nolds. both of New York. MIR. JUL
slIIsrd is connected with large interests
Nm the North, and is prominently iden-
3Esttfied with Industries in the South
Mr.. Reynolds is vice-prcsident OF the
First National Bank, of New York
Both are officially connected with in
g stitutions having large interest in the
81 securities OF the Southern Railway
L Company. They were elected TO fill
vacancies existing in the board.
Dr. Edwin A. Alderman, of Char
4 lottesville. president of the University
Of Virginia.; Robert Jcmison. ST.. Of
\ Birmingham, Ala; Bishop John Car
isle KilEo. of Charlotte. n. c., and
y Charles Steele. of New York. were re-
elected directors for n term OF three
years to succeed themselves
4 tisThe meeting was largely attended
y
fourths OF the total stock being repre-
& scented in person or by proxy. In &C
s cordancc with the custom establish
4 ed three years ago, the meeting was
open to the public. President Fairfax
Harrison and the leading officers OF
the company were in attendance to
discuss with the stockholders the at
fairs and problems of tho Southern.
ard to give Information in regard to
any detail in connection with the man
: agement of the properly.
There are now 9563 stockholders in
the Southern Railway Company, ac-
cordng to statement read at the
meeting.
= EAIRFAX HARRISON
SUBMITS ANNUAL REPORT
Fairfax Harrison submitted
tho twenty-third annual report of the
company.
ut has been record year" says the
report. THE volume of revenue, Of
= Expenses and OF income. as we'll as
Athe extent of improvements and bet
tel ments carried through. all reached
new high levels, rejecting the good
and the evil OF the prosperity which
has come to the South. Expanding
Z business has brought in large returns,
Z but II has set higher than ever before.
and. perhaps. higher than is economi-
cally warranted, the standards of cx-
r penses Nevertheless. until business
S shall again contract it would seem tina,
Z the South may be expected still to
prosper
4 Summarizing the results of the year
j the report says:
Y "1btal revenues were. sS1,3SS.324.e7
4 an increase of 14.46 per cent over the
4 previous year. OF this there remained
after paying out 7o.1o per cent for the
expenses of operation and taxes a net
operating income of s24,331,4 This
Is equivalent to 5.s7 per cent earned
upon the property investment OF tho
company. which is now si07 .6SS,l5l.71.
I The final balance of corporate income
over charges was s12,360,16l.11. 4 sum
I which exceeded by s3,026.G26.50 the like
Y balance of last year and the previous
Z record This income balance has en-
y abled the company to spend during the
4tSear S1o,ilS.6S7.6O for additions and
B bettermcnts to and upon the property
sover and above the proceeds of the
Atlanta and Charlotte Air Line bonds.
which are being applied on double
q track construction.
.F%k"The sproperty has been we'll main
tanned; its physical condition was never
better than 1T the close of the year
The roadway destroyed by storms and
foods in July, 1916, was restored and
the entire cost Of reconstruction was
charged to maintenance expenses fol-
the year. General expenses in
creased with other expenses largely
bS reason of increases i'm pay to clerk!
and attendants and Of the continuing
increase in the contribution to Fedora
valuation. : on the other hand. tn,
charges forAhlaCisS and expenses o
general officers snow n decrease Take
ngain show large increase. equvalen
TO 1853 per cent above last year
.lEfs Except as affected by varying crop
local and temporary conditions. whicl
caused this year Il loss OF certain trat
3A nc. principally Dcr!shables, there was :
substantial. steady and uniform in
crease of every class of traffic handle,
oy the company. Through the 10
cation OF numerous military camp
.ts within the South, we have engaged
and Tor some time may be expected 4
continue TO engage, increasingly in IN
+ transportation OF supplies for accoun
OF the government. Independent of this
the business condition in the Soutl
warrant the expectation of a health,
+ growth Of traffic for the ensuing wear
y MANUFACTTHING PLANTS
IS DOT ENTIRE RIGHT or WA,
Ihe report shows that during IN
& year there We're completed 7ST ne,
b manufacturing plants in the tcrritor
served by IN" Southern Railway svs
4 tenn and associated lines rcprescntip
a total capital OF s44,5S5,2so. Addj
4 ftens were made to existing plants n
4! ecost Of sl7,11l .3T0, and there wcr
+ eighty-nin new plants under construc
lion on June 80. 1917, with total capI
II tai OF sls,ss6,5oo. The cotton MANN
\ featuring industry continued to gro,
and the consumption of cotton Il
Southern mills during the lively
s. months ended July 81, 1917, cxceede
IL that in tho mills OF all other States Il
IN 1,001,63S bales.
q Estimates OF the United States DE