The leader., 1904-10-22
The !. c. Statement.

It was an Athenian who reduc-
ed the philosophy of happiness to
two rules of action: Take much
from life, and give largely to the
living. And in the centuries that |
have passed since Pericles exem-
plified his precepts in his own life
the world has progressed but little
beyond the ethical law upon which
he insisted. The terms have
changed, but reduced to its ulti-
mate intention, the dogma of al
most every school of moral science
from his day until now is fairly
stated in these words.
Judged by this standard of hap
piness, the year closing on June
80, 1904, was an exceptionally
happy one for the Illinois Central
Railroad, for during that year it
increased materially both its gross
receipts and its expenses. The
fact that the current expenses of
the road increased more than its
gross receipts, ought not, per-
haps, to be argued by the pessi-
mist. The road has, at least, felt
the JOY of disbursing munifcent-
ly. 1t has been medium of en-
larged aud wonderful activity,
carrying more cf the commerce
and travel of the nation than ever
before. 1t has, at the same time,
cost the road more to carry its
business than before, and the ra-
ito of increased cost has outstrip-
ped the ratio of increase in the
gross income.
Stated in the more exact Ian
guage of the figures Of the report
of the directors of the road for
the year referred to, it is shown
that the increase in gross receipts
from traffic amounts to 81, 045,-
059.04, while the increase in ex-
penses of operation foot up ST.
957, 367.9 SO. The reasons assign
ed for this disproportionatc in
crease in operating expenses are:
The prolonged cold season of the
past winter, the increased cost of
fuel and the increased wage scale
of operatives. In the latter item
alone the increase is shown TO
have been SO, 400, 1925.
There is food for reflection in
this latter statement. 1t is some
times bitterly complained by the
working force that there is an un-
fair division with them of the
profits of the gigantic industrial
enterprises which transact the
business of this Twentieth Centu-
ry world. If there is reasonable
foundation for such an charge, it
certainly is not to be found 10 the
fact that the largest item of in
crease in the expenses of this road
for the year is in the wages paid
to its operatives.
One moral, however, is certain
ly pointed out by this condition
of affairs. 1t is cumulative evil
dence of Republican prosperity,
which consists in augmenting the
earning power of an individual,
or of a corporation, and at the
same time increasing still more in
proportion the essential expense
account of the Garner. That the
Illinois Central Railroad should
show such a result at the end of
its years business is not matter
for wonder. 1t would be if the
result were otherwise. The road
is an integral part of the CONNER
cial and industrial development of
the United States, and necessarily
reflects prevailing conditions.
The facts shown in the statement
referred to indicate how closely
identified are the best interests
of labor and capital, and how I'M
possible it is for the one to pros
per or suffer without involving
the other.
AS Gne great commercial artery
along which pulses the interchange
of business north and south, the
Illinois Central is of special inter
est to both sections. As the chief
of the many lines of railway CEN
tering in Memphis and discharg-
ing their swelling tides of COM
merce through her gates, the road
is of special interest to Memphis.
And hence it is with more than
ordinary qualification that Mem
phis unites with the rest of the
busy world of commerce, North
and South, in felicitating this en-
terprising line upon the splendid
showing made. The Illinois Cen
trail has been an enlarged distribu-
tor of wealth during the past year.
So much is evidenced by the an
nual statement. And in that re-
spect, at least, it is to be congrat-
ulaeed upon having fulfilled what
PericIes denominated the law Of
happiness. Il has taken with q
larger grasp Of the business
Of the world, and dispensed with
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