The gold leaf. [volume] (Henderson, N.C.) 1881-1911, 1898-11-10
NEW ERA HAS CONE
nent in tie United States - the
Southern Railways Management.

" TItlnT from PItt~DUrT, Ia. cor
respondent Of the Duluth. Mimi,
Ercning Hcrnid, speaks "a follows in
q recent issue Of that paper:
\ new era in railroad management
and railroad investment has come in
thi, countrv-the investment age
the running Of railroads for dividends
for their stockholders. You may
say that i no new era: that has
AWAY, been the reason for running
railroads, May be, but the railroad
history in this country doesn't show
it. The past era has been largely a
stock iobbing era. Tie power OF J.
picrpont Morgan in the financial
world Is to great extent putting
the railroads Of America upon new
basis and paving the way for their
control for dividend purposes, pure
and simple. Mr.. Morgan represents
investors more than stock dealers
and spectators, and while he con-
trolls the roads he selects the best
practical railroad men in the country
for managers and gives the road care
full management. He is not a rail
road wreckcr and does not run rail-
roads for the sake of milking them.
Jim Hill has always managed the
Great Northern in a way to make it a
diyidend-payer. Low fixed charges.
small cost per mile for construction,
the lowest practical grades, the best
terminal facilities possible with bus
mess to shippers, an interest in the
country through which the road
passes for the roads sake, and firm
adherence to the broad principle that
the way to make business for the
road i to develop the agricultural
ami industrial resources along it
these are the things which character
ize Mr.. Hills railroad management,
which constitute his policy and which
has made the Great Northern the
most successful system of the West
The Hill policy is what makes cities
like Duluth willing and ANXIOUS to do
him honor.
One Of the Morgan systems of rail
roads is the Southern Railway, which
was organized in 1894 and built up
out Of many bankrupt connecting
lines. Its management shows. per
haps, the best idea in railroad rum
ming it is like the Hill idea, At the
head OF the company is samuel
Spencer, SDutherner. and as nearly
j. }. Hills equal as any man III the
country. Many think him the great
est railroad president in the country.
The work done in four wears in build
ing up and improving the Southern
system is simply wonderful, There
has not been its like in the history
Of railroading. Now the system has
nearly 5000 miles of single track, it
penetrates eight Southern States, all
East Of the Mississippi and South of
the Ohio and Potomac save West
Virginia and Florida. In 1894 the
roadbed was poor, the tracks in mis-
cradle condition, the train service
wretched. All this has been changed.
There are now good, smooth roadbed,
heavy rails, finely equipped trains
and excellent service. The country
along the road has witnessed a great
Improvement in business, following
and accompanying a great develop
ment. The Southern Railway has no
lands, like the Western land-grant
roads, and so no reason as they have
to maintain land department. But
one Of the first things done after the
reorganization in 1894 was the esta5-
lishmcnt Of an industrial depart
ment, to look after development
along the road. That department is
presided over by Northwestern man,
NJ. Y. Richards. wears AGO connected
with the land department Of the
Northern Pacific. 1t works with the
local peopl" along the road, and has
been the instrument Of a marked
growth in Southern industries. Last
year-thc railroad year, July l, 1897,
to June 81. here were estaL-
li>hed along the line Of the Southern
Railway, and in many eases directly
through the Industrial Department
OF the road, 2jJ new manufacturing
plants. cotton mills. furniture fac
tories, tanncrieS, iron mills. saw
mills. canning establishments, etc.
The amount Of money invested in
these new establishments and in
addition to old ones is nearly So
% 300. Settlers from the North
have purchased 80 }, 900 acres of land.
The result of work of this kind is
showing in the increased prosperity
of the Southern States and in the
growth of the business of the rail
way. 1t might be added that the
people from the North who are set
Ting in the South are generally salts
fled with their change.
For the past ten years the Western
Pennsylvania Exposition at Pittsburg
has been an established success.
Year after year it has run its even
tenor. cordially supported by the
people. and doing the cities of Pitts
bury and Allegheny much good. The
crowds this year would do credit to
the more prctentious exhibition at
Omaha. For three years the South
ern Railway has been making ex-
hibitS here. This year it has prob
ably the finest exhibits ever made by
a railroad company anywhere 1t
consists entirely of the resources and
products Of the country along the
railway, of manufacturing. agricultu-
raj, horticultural. forest. mining and
quarry products and of minerals. 1t
occupies space of about 1000 square
feet. The fruit country. the hard
wood and pine forests OF the South.
the great mineral deposits and
wealth, the GRANTEES, the marble. the
cIavS and kaolins. the grains, cotton
truck and tobacco wealth are all in
evidence, and the display is attract
ing great attention.
Knows How to ssAd'