1907 - The Virginian Railway

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Wed Mar 14 22:08:45 EDT 2007


Roanoke Times - March 14, 1907

THE VIRGINIAN RAILWAY

The Virginian Railway, nee the Tidewater, invites some interesting
editorial discussion, particularly with reference to the cost of
construction and compared with the cost of the construction of other
railway lines. The Portsmouth Star, commenting upon an editorial
which recently appeared in the Richmond Times Dispatch upon the subject says:
Aside from the interest which is naturally felt here in the
organization and building of a great railway system, which is to be
such an important feeder to this port as the Tidewater road promises
to be, there is still another side to this mammoth undertaking which
interests students of railroad economy everywhere.
It is nothing less than the object lesson to be afforded by the
construction and operation by one man of a great system of railways,
such as will be comprised in the Virginian railway, in which has been
merged the Tidewater and Deepwater systems. It is even now a vexed
question among railway men whether or not most of the railway systems
of the country are overcapitalized or whether they could be
duplicated for the amount represented by their stock issues and bonded debts.
Single handed and alone Henry H. Rogers, the Standard Oil
magnate, has undertaken the construction of the Virginian system, and
it is said to be the best constructed line of railway ever laid down
in this country. The topography of the country through which the
Tidewater and Deepwater systems run is varied. The eastern end is
flat and there are no heavy grades and few curves, while the western
end runs through the mountains.
The average cost, the Richmond Times Dispatch thinks ought to be
fairly representative of the average cost of railroad construction in
the United States, although the work is being done at a time when
both labor and materials are abnormally high.
The cost of construction of the Virginian railroad will, of
course, settle nothing definitely as to the actual cost of the old
roads, for they were built under other conditions, and then
reorganized - and rebuilt, and it would be an impossible task to
figure out just what they did cost. But, if Mr. Rogers will take the
public into his confidence, he will give valuable information as to
what the actual cost of a well-constructed road should be.
If he can build the Virginian at a cost per mile considerably
lower than the capitalization per mile of competitive roads, he will
be able to do business at a lower rate and still earn a fair dividend
on his cash investment.
________
Ron Davis




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