New-York tribune., 1906-12-03
TRIBUTE PAID BY ASSOCIATES
Southern Railway Trustees and Directors
Tell of MI Spencer's Work.

Washington Dec 2,-The voting trustees andA
board OF directors of the Southern Railway 40
joint meeting to-day and took action on the death
of President Spencer First President A 3
Andrews presided. and the others present were J
Pierpont Morgan and George F. Baker. voting trus-
tees, and the following directors: Joseph Bryan
Richmond. Va; Samuel N. Iumau. Atlanta; Adrian
Iselin jr, New York; Edmund =. Randolph, New
York. James T. Woodward. New York: William w
Finley. Washington, and Charles Steele New York
statement was adopted and placed on the rec
ords paying tribute TO Mr.. Spencer's services to
the company, other corporations and to the pub
lie. and pointing out that the progress of the road
under his administration effected without
making il the basis of increase in the roads
stock beyond the amount contemplated when the
properties were reorganized. eleven years ago. The
statement follows:
: lsi7. died on November %. 1907, near Lawyers
station, a., upon the railroad of the Southern
Ir+1l,tW$tE oipaHy' oI winch ne was the first and
The personal qualities of Mr SPENCER his in
degtty IN Aeart and mind. his affectonate and
genlal als2osiuon his loyal and courageous spirit
~ 51i nv teI4gf All OF WoItny ends 4nd his comts4i up
sport combined TO establish MIN in the loving re-
e5atry ana n0whar more m secTI tSen % %i ms ms
affection Of his fellow workers in the service of
The Importance Of his service to this company
IS matter Of common knowledge throughout the
railroad world. but tne character. the extent and
the consequence of that service are and can, be
slates now gathered mere To at{es3 ths- he -To so
gard Tor him. and 20 record their high estimate Of
Upon June is ISei or the completion of the
Richmond Terminal reorganization, conceived by
Charles II. Coster. the first meeting Of the South
ern Railway Company WIS called order Rich
nond by Samuel SpFnCer president
In that calendar year the southern Railway Syy-
TEN embraced 1891 miles OF road. with 623 loco
motives and 1864 ears, which carried 3427S5S pas
Sengers and 6575,150 tons Of freight. ard earned
Sl6 SAG -29S
In the last fiscal year tho Southern Railway sys-
tenn embraced 1918 miles Of road with 1,+29 ioc0uo-
tiycs and 42110 which carried Gd3550 passel-
gers and 2I3c931T tons of freight and earned So,
81 i2S
The number Of employees had increased from E-
us June 90 ls9J. 10 $1,Go3 on June G0 1896. and
tIe wages paid from $, 7l2- 80 70 81 .l9S. .02u
I.r fUI details and the impressive character OF
this .anarhable advance, too extended for Present
~cHjtaI. are exhibited in the mastery communion
si.n which upon February l. 1906, Mr.. Spencer aci-
~sed to NIessrs. ]. T. Morgan & Co, the basis
" She development and general mortgage
In this progress every step had been initiated and
conducted by Mr.. Spencer with the cordial concur
-ence Of the voting trustees and the board Of di-
rectors and significant OF the conservat tive and
rautious disposition Of Mr.. Spencer and his sup
DOrters thar this phenomenal enlargement of the
any increase OF stock, or even OF any increase OF
dividends beyond the amount contemplated and
stated in the plan OF 1898 with reference TO the
properties originally reOrganZed Every dollar tina
could ba borrowed under President Spencer's man
lEement was put into the property in the effort 10
enable TO meet the ever increasing demands OF
the Vigorous and wonderful growth OF the South
and its Industries. -.