r . 'I IIIW— IH iS l ..ill -mm a IM I.PWOOI) Y \KD vr l MS MY II,I,K—Brisk business in pulpwood shipment originating here help ed build the Vi« freight traffic the past year to r cord highs, as reported in the road's annual re port. The view above was made here Tuesday aft ‘rnoon.
Page 12
Friday, April 12, 1957 — The Farmville herald and farmer-leader · 29 of 29 source blocks
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I>usinoKs and Industry koport Norfolk & Western Railway \nnnal Report Shows 1956Record ) ear in Freight. Income
.Norfolk and Western’s annual re port issued Friday reveals 1956 as a record year for the railway in many aspects from total freight business handled to net income. Other marks established included new highs in total operating reve nues. eamunis per share of common stock and merchandise traffic car ried. Net income was $42 486.857. an increase of ten per cent over 1955. Gross income was $254 213.103 and expenses other than Federal in come taxes were $182,351,246. repre senting increases of 14 and 13 per cent, respectively. Total taxes were over $45 1-3 mil lion. or S3 07 per share of common stock compared- with $7.88 in 1955. The operating ratio, or tin amount of each operating revenue dollar consumed in operating expenses, was 68.8 compared to 66.1 the prev ious year. Freight Hauls I p Freight revenues increased over 15 pc r cent to a record $225 million. Measured in rt venue ton miles the Norfolk and Western also handled ■ to y 12.t per cent over 1955 and eight per cent ever 1948. the prev ious record year Coal mines served by th- railroad produced 52.4 mil Ton ton. compared to 47 million tons rite year be hoe and the volume of c -.i 1 exported over Noriolk and Western p.■ ; - at Lamberts Poire in creased 51 5 p> cent For the fu st time the major part of the coal load moved east instead, of west -over th'w mountain ranges to the sea. N rfolk and W- stern ore usvri 1 o.5 per cent of all coal mined in the United Stales ts highest pro portion ever, and also carried 7.7 million Puis {ton mutes served by other Tin-:: an increase of 17.6 per
frill ovt : < : Traffic nihe tli -a coal and coke also ut(affiled th'- inmost volume in I’.’storv Hi 2 m lltoii * oils for reve nue of $70 "> m ll'on Tlir in " o)iao. disr* i';iff'c |u... ino.-oasod almost 12 per com in tic last n : ye irs. Passman- revenue declined five P-; cent to $3..':iK :j71. Mail, expror-s and lmscellaneoiis ope-nfing reve nues wen up 11 per cent to ?ll million, although mail revenues alone declined slightly Dividend Earnings Net income cqualle I 17 7 per cent of total operating revenues, one of the highest {irrcentages of any ma jor ra’lroad. Earnings per common share were $7 :i!> compared to $6.70 J(‘ler>\ illr These from here attending the Model Geneml Assembly in Rich mond on Friday were M‘ - Milton Anderson and Misses Ada a n d Grace Anderson. Mrs Hcllcn South all and Miss Phyllis Southall and l.uev Pave stone Edwin Smith was sue tas a deleeab and went Thurs day and stayed through Friday.
Mrs ,Nefl Sillier.-, visited her mother. Mrs J. I! Store Saturday Miss s Ada and Grace Anders m visucd then aunt. M e John Call, in Richmond Sum! iy M' -st's fchmly U ake and Geral dine Caliborne. who have been visit ing Mrs A L C lc siieut Friday with M s.s Lucy Pare Stone and re tunii d to their home in Williams burg Sunday. Jack Crone, of Mannboro, visited ins sister. Mr- J-Houser. Mon day Miss Virgin N-e fleet ha.- been s p r u d i n a s-me turn with la > mother. M Ke'i N.*rfliv' w k ' has hei n , ufe ■ d • ■ her tv ■: M .. I ,,-v Pa ;< Si . 10 w. :e dm supper me , • : Mis. U. • A m Saturday Mr' ami M . (. C I - >m. of Green Pay visit• 1 M .ml Mrs Nlek U i ia i d Mi1 ■ ,e ■ Mi .aid Mis i'avid Mi n " and family. spent tin wtek end u. North Carolina with Mrs Me; r.: par ents. M: and Mm- Be.tvei
ill 1955 and $4.52 in 1**54. The pre vious record of $728 was set in 1929. Common stock dividends were $3.75. including an extra. The board of directors increased the regular quarto, ly dividend from 75 to 90 cents. Preferred stock dividends re mained at $!. It was the sixtieth consecutive year with dividends on ud.iustent preferred stock and the fifty-sixth consecutive year, with dividends on common stock Capital expenditures for improve ments to fixed properties and rolling
stock totalled SG2 million - -TO per cent more than the amount spent for such improvements in any prim year. The company employed ah aver age of 21.113 persons during the year who received wages of $102 and one-half million, an i average of $4,8.v> per employee Payments for railroad retirement, unemployment insurance, supplemental pensions, medical and hospitalization plans and other employee benefits totalled $11.45 million, or $543 per employee.
VjaUoax F”' i* At"- 'eh ."1 of 'he midd’e d’st-ct, WMU, will hold its sn-'nsr tv.ppfine at M? Hope Bnp'ist chu ch /Mr-I 13, beoinning o* If*‘30 a m. All '. men of the Bap t'st ch*"'ches in Amelia county are 'n’-ired *•' s»‘fend. Vt^nofeiisOc services were con ducted last week at Mattoax Pres byterian church by the Rev. J. B. Sbc'-r, "asp;'- 0f G’ -ic ■ Covenant Prp'-,hyt»"iaii ch»-ch in Hampton. M s Cha les Dodson *s a nation* at the Retreat for the Sick Hospital n R'chnrnd M’s a C West has retimed 1 ome R’c'en ind h"sivial M s. P <ye Bad "’tt Bunker. of HhKersbufsr. has been in a Peters burg hospital. b'it is slowly improy 'pc M s Bunker s a former rest den’ of this community. A week end Youth Revival was conducted at P'edmont and Union Rarest churches. The revival was conducted by a team from the Uni - •'s"v ,,f Richmond and Westhamp ton Colleges.
Mrs. Curtis Haden was a Sunday afternoon guest of her mother. Mrs. Empress Gunter. Others who called during the afternoon were Mr. and Mrs. Clinton Bowlin and Carlyle, Woodrow and Connie Bowlin and Misses Esther and Alma Whitting ton. Misses Esther and Alma Whitting ton entertained t h e evangelistic team from the University of Rich mond at supper Saturday evening. Mr. and Mrs. Roy Saunders enter tained ft ur of them at supper Sun-. day. A number of Mattoax Home Dem nstration club members attended the Spring Federation of Home Demonstration clubs, meeting at Amelia April 4 This was the fust time Amelia had entertained the Fell ratio; P T. Barnum managed Jenny Lind in her first cone Tt at Castle Garden in New York September it. 11,50.
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