The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1905-12-24
AtehisOn, Topeka & Santa Fe
Railway Has an Anniversary.
Twelve Years Ago Yesterday 1t
Went into Hands of Receivers.
GREAT PROGRESS SINCE
Gross Earnings More Than
Doubled in Ten Years.
Gossips and Matters Of Interest
in Railroad Circles.
GREAT PROGRESS SINCE

~eu1ber % 1893, the AtchlsOn, 10
nalea & Santa Fe Railway company
went into the hands of receivers, ana
for MANY months succeeding that
date things looked black for sue
cessful future for the big railroad sys-
TEN. But when the work of the re-
eeivers was concluded in about two
years and a reorganization erected
the tottering property gained IN
strength by the minute almost, ana
with leaps and bounds, sprang to the
position it occupies today-One of the
most substantial railroad properties
in the country.
When the road went into the hands
of the receivers not one of those VINO
knew Of the possibilities of the many
lines comprising the system, had the
temerity to dream that if the prop
ertv was saved, it would within dOz-
en- years, and this is short time IN
the life of a railroad, considerably
more than double its earning capaclly
and become one of the big DIVIDEND
paying roads of the west.
Details of the bankruptcy OF the
road, the appointment of the receiv-
ers. their work and the reorganlza-
ton of the property are matter OF
railroad history which are generally
known in this part of the country.
During the financial depression or
1893. the Santa Fe, with all others
suffered and that depression was
worse In the territory tapped by the
railroad than anywhere else. Bot
toms dropped from all sorts OF booms
in cities and towns all along the line.
People actually were becoming prov
erty-stricken. There was no business
for railroads or any other industry
for a time. Those managing the
Santa Fe had just undertaken the
characterization of the system. 1t was
found necessary to default in the pay
ment of the interests on the bonds OF
the company and this resulted in some
foreign bOndhOIders bringing suit for
the appointment of receivers Ihls
suit was successful and j. W. Rein
hardt Of New York, then president OF
the company: John J. McCOOk of New
York, and Joseph c. Wilson of To-
peka were named as the receivers
Theirs was no easy task and some
months after the creation of the re-
ownership Mr.. Reinhardt retired from
ct and was succeeded by Col. Aldace
F. Walker Of New York.
On mere than one occasion the re-
ceivers thought that they would have
to wind up the affairs of the corpor-
alton but money men eventually came
to the rescue and two years after the
receivers were appointed reorganl-
zatlon Of the property was erected
and they we're discharged.
During the first few months of the
recefvershfp hardly any of the force
in the general Offices received any
pay and there are many working in
the offices now who remember these
hard times 1t is not generally known
but it is a fact that the late Edward
Wilder. secretary and treasurer of the
company, did as much as any one man
to keep the property aflOat, and on
several occasions when a crash
seemed imminent he borrowed some
hundreds of thousands of dollars on
his own name to tide things over
But after the reorganization
change for the better was not long in
coming and it has continued ever
since. Nothing shows better the most
remarkable progress made by the road
I'm the ten years since the reorgani-
cation than a glance at the gross
earnings of the company. For the
first six months after the reOrganiza-
ton ending June 30. 1896. the gross
earnings were $13.590,234 For the
succeeding year up to June 80, 1897. /
they were S3O.621.230. and for the
last fiscal year ending June 80. 1905, t
they totaled in round figures $4,000
600
When James E. Hurley. general I
manager of the company, had his at
tention called yesterday to the fact
that it was the anniversary, as it
hands of receivers, and had looked
up the figures given above he was
greatly surprised at the actual
growth in the gross earnings of the
road.
cit is a most remarkable showing"
said Mr.. Hurley II knew that the
progress had been wonderful but not
to such an extent. It was my inn
preston that the gross earnings for
the first year after the reOrganiZa-
mark. Think of it, the road within
the last eight years has considerably
more than doubled its earning ca
pacity 1t is a record that has few
equals. For the month Of October of
this year the gross earnings on that
part of the system under my charge
were S4.093,594. and for the entire
sustem S6,793,29O. or a good deal
more than one-ffth of the entire
gross earnings the frs year after re-
organization. OF course these gross
earning figures show the progress of
the company, but they hardly tell the
real story of what has been done. It
would be pretty hard to give an idea
u 1t off-hand. But since the time of
reorganization every mile of steel on
the entire system has been relaid with
heavier steel. and some portions of it
have been relaid two and three times. /
improvements of all sorts have been
made to the roadbed until IL is in the
best possible shape. Stations have
been rebuilt and replaced by new
ones Mammoth elevators and ice
refrigelaung plants have been erect
ed. In fact improvements of all kinds
have been made on all parts of the
property and at a great expense. Mil
hons have been spent for equipment.
An idea of the amount of money that
has been spent for Improvements may
be gained when it is known that on
the Santa Fe system proper, that part
Of the system under my Jurisdiction
$4,000. 600 was expended for improve
ments this last year.
1T is certainly a wonderful rec
ord for progress that the company
has made during the few short years
mat has elapsed since it went into
the hands Of receivers"
SCHOOL FOR APPRENTICES.