Kansas City daily journal., 1897-01-04
SANTA FE DIRECTOR.
SPEAKS HIGHLY OF THE PHYSICAL
CONDITION OF THE LINE.
COMPLIMENTS THE OFFICERS.
DOES NOT FEAR ADVERSE LEGIS-
LATION IN KANSAS.
Chicago Great. Western Rumor-
McLean's Projected ROad-Utah
d CaIifOrnia-CIHuS Spreck-
els Line-IntcrestinE
Railroad News.

Thomas P. Fowler. one of the directors of
the Atchison, Topeka & Santa Fe. and
president of the New York, Ontario &
Western, is very favorably impressed with
the physical condition of the roadbed Of
the Santa Fe and with the bright pros
poets for the company and the territory
tributary TO its lines. He says:
Much of the main Zine of the company
is fully up to the highest Eastern stand
ard. The ties throughout are in good life
and much of the track is ballasted with
broken stone, or good gravel. Many miles
Of heavy steel rails have been laid during
2 the receiversnip. and since the reorganiza-
tion, and this work will be resumed in the
spring and continued until all of the main
line and branches are up to the high stand
ard odopted by this company. Many thou
sand feet of wooden trestles have been
filled, or replaced with permanent steel
structures during the past year. These
improvements are being charged to operat-
ing expenses. as well as many additions to
motive power and equipment. The COM
pany is served by an efficient and capable
corps Of officials from one end of the
system to the other and there is no doubt,
in my mind, as to its ability hereafter to
earn its fixed charges, even in times OF
great business depression. The present
policy of the management should receive
the support of the holders of the companys
stocks and bonds. For a time. at least.
the surplus should be used for bringing the
roadbed and equipment fully up TO point
which will ultimately reduce the operating
cost and enable the company to economic
when necessary, without running the risks
of deterioration. To attain this end is Il
more wise and conservative object than
straining point for the sake of immedi-
ately paying interest on adjustment bonds
or occasional dividends on preferred stock.
The property is being gradually put in
shape for the greatest possible economy in
operation, and once that desirable end is
attained, surplus earnings will be an as
sured fact, and the payment of interest on
the adjustment bonds, when once begun,
ran then be continued without interruption.
Much Of the railway mileage of the
Southwest has been subjected 10 the pro-
cess of liquidation, in many cases owing to
bad management il is true but adverse
legislation has also been d factor. There
is good ground for hope that legislation
has gone in an adverse direction as far as
IL will go and that the pendulum viii now
swing In the other direction. l would not
be surprised II the Populist would now set
q good example to his legislative brother
Of other political faiths. One of my Pop
ulistic friends in Kansas with whom was
discussing the outlook slyly reminded me
that no Populistic measure had been so
unfair 10 the railroads as two of the bills
passed by our own New York legislatl,re
last winter-one obliging the railroads 70
carry bicycles free Of charge, and the other
compelling all companies to issue mileage
tickets at 2 cents per mile when some
roads find It improbable. during nine
months out of twelve. TO run as many
trains the public demands at cents a
mile for local fares. Ny friends sympathy
led me to hope for better things from the
progressive West, and l am rather inclined
to the belief that the railways arc now
likely TO receive better treatment at To-
peka than they have met with at Albany
for several years past"