The Montgomery advertiser., 1906-12-03
ard. William W. Finley and Charles

W~tut W1ltlhm ". piHleS hat1 CA.ea 1ce Steel.
 The following minute was adopted and was ordered to bs entered on the records and published at length In the press upon the lines of the Southern Railway:
 Samuel spencer. born in Columbus. Ga.,. March 2, 1st7, died November 2s. 1906, near Lawyers Station, Va.s upon the railroad of the Southern Railway Company, of which he was the first end only President The personal qualities of Mir. Spencer, his integrity in heart and mind, his affectionate and genK disposition, his loyal and courage < spirit. his untiring devction to A =. his persistent achievement of ~.ny ends ana his eomradeship on the Aslds of battle, of affairs and of manly sport, combined to establish him in the loy- ing regard of hosts of friends in every section of his country. and nownere more securely than in the affection or his fellow workers in the service of the southern Railway Company.
 The importance of his service to ,nis mon knowledge throughout the silroad world but the char aetsr, the extenc and .he conse- auenca of that service are ana can be al preciated at their full worth oniy by his associates new gathered here to attest their regard for hi1n and tc record their high estimate of his life
 Upon June 1s, 1894. on the comple- tiou of the Richmond Terminal reoT- ganfzatfon, conceived by J. Pferpont Morgan. and conducted by his partner. Charles H. Goster. the first meeting of the southern Railway Company was called to order, at Richmond. py sam ueI Spencer as president In that call eniar year the Southern Railway sys- tenn embraced 4.39t miles of road with 62a locomotives and f9,964 cars, which carried S.427,s5S passengers and s,sIos- 75O tons of freight and earned Sle,- 64s,29S In the last fiscal year, tne Southern Railway system emoraceu 7.5I5 miles of road with i,41s ssa ao1Yi,lI 1I : lives and 42.11e cars, which carried 1l,- esq. $50 passengers and 27,Sss,3S4 tons Of freight and earned $5s.e41,4Ss
 The number of einrloyes aad fncrens- 1 ad from 1S.f7s, June 30, 1885, to 3I,Oos June 30. l9A6, and the wages patd frnln s6.7l2.7S6. to $2l19s,os0. The fuli de- tails and the impressive characleI VI this remarkable advance, to9, s.eenvse ,S. ~ for uresent recital, are exhibited in the nasferly communication which, upon February 1. leee. MT Spencer address e dto Messrs J r. Morgan and Compa- nv as the basis of the development ana general FncFtgage.
 m this progress every step had been initiated and conducted by Mr ~pencer with the cordial concurrence or tne voting trustees and the board of direc- tors and it is sisnlficant Of the com servatiye and cautious disposition or Mir. Spencer and his supporters that thfs phenomenal enlargement Of The system and It's business was mt made the basis of any increase Of st@ck or even of an increase of dividends beyond the amount contemplated and stated in the plan of 1s03 with reference to tue properties originally resrRanized.
 Every dollar that could De borrowed under resident Spencer'H management was put into the property In the ef- fort 10 enable it to meet the ever ln- creasing demands of the vigorous and wonderful growth of the South and its ! industries.
 The mighty fabric which for twelve l years he had been moulding must con- tinue under others to develop and to im- lprove in the service thet it sl1all render | to the public, but never can ft cease % bear, to impress, or [ orevesl the cons 1 tinuine impulse Of the uaster mind of It's first president
 Tn the height oe it's usefulness and his powers he has been called away but l the inspiration of his shining example and his lofty standards must ever an- innate, his successors. To many other corporations conducting the commerce of the country as well as to the south erl Railway did Mir Spencer render in- valuable service and all of them will share in our sense of loss and personal grief
 Asstheir chosen spokesman in the tre- mendous agitation eliminating in the congressional action of 1908, his mas tery of his subject, his dignity of bear ing his integrity of character com manded the confidence and approval of the vast interests did he recognize his obligation.
 How well he conceived, how admira- bly, he performed that duty, was indi- cated In the last of his public address es. his last message to his friends in the South delivered at Montgomery, r Alabama. on October 25, 1906. Tn ad- dress, which deserves wide circulation and close consideration. not only In his own South that he loved so well. put throughout the whole country which he had learned to know far better than most of its citizens where ho was horn.
 His chosen careor has closed but the wisdom and the virtues that character ized that career will abide as long as there shall be Q regard for duty bravely done and for high service gallantly rendered. To his family we extend our deepest and most respectful sym pathy and our assurance that for them as well as for his associates, honor and happiness will ever result from their relation to Samuel Spencer that just and upright man and officer"