The Fairmont West Virginian. (Fairmont, W. Va.) 1904-1914, 1905-08-14

infusion Of new and vigorous blood
from the West. the results were mem.
orable.
The year 1896 was very far from a
lean year and in Its becoming the ba.
sis for comparisons is with the gain
ing of no advantage because of the in.
solvency. The, total tonnage was the
greatest TO that time in the history
OF the company, and exceeded by two
million tons that of the previous year
C95) Ave million tons that OF '94 and
four million tons that of 80, when the
freight earnings per mile were the
record figures; SO remaining for a
decade. The tonnage of sc surpass.
ed by two million tons the total of the
year the twenty-five million point In
earnings was first reached and pass
ed C92). The succeeding year. Cs3)
the earnings went to twenty.six and
quarter millions, and. while the rev.
enue from freight in ninety.six was
within Ave hundred dollars a mile of
that of the banner year. the freight
tonnage was a million tons in excess
OF ninety.three's aggregate. The
difference in the total freight revenue
Of 1890. the year Of the largest freight
earnings per mile of record to that
time, and that of the bankruptcy
year c96) was but hundred and sew.
enty thousand dollars
The foregoing to the fore of the traf.
fic getter has not SO long been of the
conspicuous advances in American
railway administration. Individual
distinction, succession through inherl.
lance and other than what might be
termed the commercial. ruled, with.
in easy memory. to more rather than
less extent. The policy was largely
personal: conformed to the views of
one man, the predominating bulk of
whose holdings. or those he person
ated. viewed as justifying his suprem-
acy. A subordination to him, where.
as now, the Difference is to it. Traf.
fic is the 1t and with capital I.
Whether or no Murray was the first
to emphasize tonnage and policy
centering upon securing 1t as the de-
stratum. is immaterial. Since his ad.
vent upon the B. and o. has come
about the concentration upon traffic
bearings notable in railroad direction.
In continuity too with that which sig.
nalized his course as co.receiver with
Cowen, when the railroad world was
treated to the unprecedented spectacle
OF system brought to comparatively
high stage of efficiency while under
court control. Instead of these re-
ceivers holding their places as soft
snaps, and following custom in infiu-
encing allowances of fees based on
commission upon gross sums involv-
ed, they accepted stated salaries, that
were by no means excessive when
taking into account their experience
and conceded ability. Another strik-
ing departure from the then conven-
tional practice, was the reversal of
the rule to SO administer the proper.
ty as to enhance the salable values
of certain securities In which a co.
terie of insiders had large interest,
and let the others slide. The tobog.
gaming, as a whole, carrying things
to the demition bow-wows as typified
in the auction Of broken down old
road foreclosure. This was the bar.
gain time in the ordinary course of
events and the bargainers usually
knew where they were att" the re-
.ceivers, as likely as not, being of their
own selection. But the B. and o. as
SO characteristic of its long career,
marked even the stage of bankruptcy
with innocations. 1t was not sold I'm.
der foreclosure proceedings, and.
eventually, every outstanding security
was brought to par.
The recognition of Governs part in
!