The morning news. [volume] (Savannah, Ga.) 1887-1900, 1899-08-06

ana ddN NtlttlllNtlt OIL ineal emp p- - hN
cause this method insures TIE in crest
and cooperation Of the employees them
selves.
"On the street railway fines with which
! am connected the men wi receive 8
day or over. II positions u the higher
service OF the companies are to be filled
they are filed from men WHO have shown
themselves bright and trus worthy en-
pioyes of these companies. Service and
ability alone count in securing promo
ton.
There have been attempts by profes-
slona agitators and by men interested ir
bearing the price of traction stocks 10
inCte strikes among our men. Recently
there was such an attempt among the
men employed in the New York system
IN which l am interested. The president
Of the New York company told me The
other day that a delegation of the men
had come to him with d paper containing
the names Of over 5000 employees who vol
unfairly testified that they were satisfied
and pleased with their treatment by the
company.
These are intelligent men. They are
capable of deciding for themselves wheth-
er they are Well off or not. Where such
men have a chance to see Tor themselves
whether combinations are to- the advan-
tage of laboHng men as Wei as of the
general community, they are apt to de-
eide that the advantages are quite evil
dent"
Are They Public BeBefactorst
The opinions so forcefully expressed by
Mr.. Widener are shared by Mr.. Whitney
and Mr.. Elkins. Doubtless they are sin
cere in believing that, while dong so noo.Y
for themselves, they have conferred de-
cided benefits upon the ten mill on Ameri-
cans who contribute nickels to the reve-
nues of their street railways. II their
view of the case is correct they are pub
lie benefaCtorS to a remarkable extent
Certainly never before has the control OF
so many street railways been lodged IN
the hands of a few individuals
This great system had It's beginning
back in the COS. when william V. Nc
Grath and Jacob E. Ridgway organized
the Union Passenger Railway in Phia-
delphia. Peter A. 4. Widener invested
the profits of his meat business in the en-
terprise and William L. Elkius a produce
merchant of the city, was another stock
holder. in 1879 this line was joined to the
Continental line, with ate Treasurer Will
liam Fl. Kemble at the head of the COM
bined system, and Mr.. Widener and Mr.,
Elkins closely associated with him. Ey
this time Mr. Widener was dev0t ng him
self wholly to the work of street railway
management, and on the death of Mr..
Kemble he became the dlrectns head of
the company
Getting Control in Philadelphia.
In 1883 the Philadelphia Traction Com
pany was formed. In the years that TO-
lowed Mr., Widener displayed his genius
for engineering consultations by bring
ing one line after another under the con-
troll of this company
The final step in this process was the
formation of the Union Traction Com
pany. which brought together three large
systems, and practically meant the CON
solidation of oil the lines I'm and about
Philadelphia The company has a capt.
talizaton Of over 10000 ,0O0 and a bonded
Indebtedness of about the same amount.
One hundred Millions would not be an ex-
cessive valuation of these combined lines,
which include over 400 miles Of street rail-
way.
The formation of the Union campany
made Mr. Widener and Mr.. E.klus SUI
preme in Philadelphia traction affairs.
BY extens' on, reorgan. zati1n and con-
solidation, the men who started out as
stockholders in a company with a face
capital of s1,00) C00 and only half of that
pad in, had worked themselves 10 the
head Oh an enterprise WORTH 800 COO 0oO
While dong so they had developed in
Philadelphia an extensive and efficient
system of street transportation.
Moving ON Chicago.
Having conquered Philadelphia. these
enterprising traction kings looked about
for new worlds. They he'd controlins
Interests IN Philadelphia gas companies
and owned as much Philadelphia real es-
tate as they cared for. 1t was really re-
cessary for them to go to other cidss Il
they were to extend their operations in
their chosen field of controlling munich
pal franchises
About this time Mr.. Charles r. Yerkes
who had gone to Chicago with bor-
rowed capital of a few thousand del airs
secured an option on the North Side street
railway in that city. Mr.. Wideuer and
Mr.. Elkins became stockholders in thai
line and so secured a foothold in Chica-
go traction interests They also invested
in gas companies and street railways in
Baltimore, and some of The smaller Penn
sylvania cities.
The Three Kings Join Forces
In 1889 MIR. William c. Whitney, having
retired from public life, began his inter
est in the affairs Of the Metropolitan
Traction Company. Widener and Elkins
bought into Metropolitan traction, and
the three men came into the close bust
ness relations which resulted in the COM
bination of their interests.
This combina ton was one of brains as
well IS millions. The political training
of Whitney and Widener had taught them
how 10 deal with men-and pol ticians
They ak knew the possibilities in street
traction, and they sci out to develoT
schemes so far reachiCg that less resource
ful men could not even have contemplated
them.
Backed by Unlimited Capital.
IT is very natural 70 wonder in this con.
nection how men, even with the rapidly
growing wealth of these three, could
hnancier undertakings so vast as they
have carried through in rapid succession
within the past few years. But largt
part of the strength of this combina dor
has lain in its ability 10 command seem.
ingly unlimited wealth for the scheme.
that its members devised.
Mr.. Widener has long enjoyed the con.
tidence and support OF a number of very
wealthy men in Philadelphia. Mr.. Elkin.
is Standard oil magnate, and his as
socrates in that great corporation are re
nowned for knowing and backing gooI
thing when il is praspntad 10 then, NIr