The Caucasian. (Clinton, N.C.) 188?-1913, 1906-12-06
TRIBUTE TO SAMUEL SPENCER
Voting Trustees and Board of Direct
ors in Joint Meeting Adopt Min
utes to Be Printed in Press Along
Route of Southern Railway.

Washington, ID. c., Special-At a
joint meeting of the voting trustees
of the board OF directors of the South
ern Railway Co., held at its office
the following minute was adopted
to be entered on the records and pub
lished at length in the press upon the
lines of the Southern Railway:
Samuel Spencer, born III Colum-
bus, Ga, March ?, 1S47, died Nov.
%, 1906, near Lawyers Station, Vir-
ginia, upon the railroad of the South
ern Railway Company, of which he
was the first and only president. The
personal qualities Of Mr.. Spencer; !;
his integrity in heart and mind; his
affectionate and genial disposition !;
his loyal and courageous spirit; his
untiring devotion to duty; his pre-
sistent achievement of worthy ends !;
and his comradeship on the field of
battle of affairs and of manly sport
combined to establish him in the low
ing regard Of hosts of friends in ev-
cry section of his country, and no.
where more securely than In the af-
fection of his fellow-workers in the
service of the Southern Railway Com
pany The Importance of his service
to this company is matter of COM
mon knowledge throughout the rail
road world but the character, the ex-
tent, and the consequence of that
service are and can be appreciated at
their full worth only by his associates
now gathered here to attest their re-
gard for him and to record their
high estimate of his life and work.
"Upon June 18th, 1894, on the
completion to the Richmond terminal
a reorganization conceived by J. Pi-
erpont Morgan and conducted by his
partner, Charles Fl. Coster, the first
meeting of the Southern Railway
Company was called to order at Rich
mond by Samuel Spencer as presi.
dent. In that calendar year, the
Southern Railway Company embrac.
ed 1891 miles of road, with 623 To-
eomotives and 1864 cars, which ear
ried 3,427 1853 passengers and 6,673,
$50 tons of freight and earned $16,-
643, ,29S. In the last fiscal year, the
Southern Railway system embraced
1915 miles Of road with ,429 loco
! motives and 42,11O ears, which car
ried IL ,663, $50 passengers and q,
339.337 tons Of freight. and earned
$53, ,641, ,43S. The number of sem
ployes had increased from 1918
June 3Oth, 1895, to 37,O03 June 30th
1906, and the wages paid from Sc,
7l2,79e to 21,1S9,020. The full de
tails and impressive character of thi
remarkable advent, too extended fo
| present recital, are exhibited in tn,
| masterly communication which upol
February ]. 1906, Mr.. Spencer ad
dressed to Messrs. j. p. Morgan 4
Co., as the basis of the development
~and general mortgage.
sln this progress every step ha'
been initial and conducted by Nh
Spencer with the cordial concurrene
of the voting trustees and the boar,
OF directors, and it is significant o
| Ic tOuSSIf fdtivc JIM CdutiOHcQ pu
sition of Mr.. Spe1 eer and his sup
porters, ana this rrt nominal enlarge
mens OF the system and its bushes
WAS not made the basis of any In
crease Id dividends beyond th
amount contemplated and stated j
the plans OF 1Sa3 H':h reference I
the properties originally re-organiz
ed. Every dollar that could be bon
rowed under President Spencer
management was put INTO the propc,
ty in the effort to enable it to NEE
the every increase in demands of tn
vigorous and wonderful growth O
the South and its industries. Th
mighty fabric, which for II years b
had been molding, must continue III
der others to develop and to improy
| in the service that shall render to th
public, but never can it cease to bea
the impress, or to reveal the COZ
| tinuing impulse Of the master min
of its first president In the heigi
Of his usefulness and his powers
kas been eslIed awsy, bst the mepi