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Dr. Getter, left, is examining the handiwork of the track foreman and his six helpers. Notice the lack of ballast between the ties. To save money no ballast was used in the construction of the track; ties were laid directly on the ground. The KV constantly struggled to keep its rail and tie plates from sinking into the mud, and to keep its track in line. (Forrest Kauffman collection)
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First Dividend Issued
After 24 long years, the KV
stockholders had yet to see any return from their
investment. That is, until the evening of June 9, 1917, when the directors
gathered at the Belleville station for their monthly meeting. Getter, general
manager of the road, gave the annual report on its financial condition. The
outlook was indeed promising, for upon a motion by W.B. Maclay, the company's
secretary, the board immediately authorized payment of a 3 percent dividend.
This became the first of 12 dividends, ranging from 2 to 4 percent, which the
company issued within a period of 14 years remembered fondly as the
KV's
"Boom Times."
Though dividends were small management was optimistic. Passenger and freight
receipts were on the rise. Belleville had grown in population and industry,
and although the KV
was responsible for this growth, it, in itself, would never
attain financial success. Transportation costs continued to plague the road and,
despite the company's permanent improvement policy, heavy right-of-way maintenance
expenses were frequently incurred, though it was reported that few finer
stretches of railway could have been found anywhere.
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