The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1906-06-04
STUYVESANT FISH
MAKES STATEMENT
THE PRESIDENT OF THE ILLINOIS
CENTRAL POINTS OUT WHAT
coNFRoNTS HARRlMAN-INTER-
EsTlNG INFORMATION.
From the New YORK Sun.

From the New York Sun.
stuyvesant Fish, president of the ILL
nois Central has submitted to his board
of directors a long report giving detailed
statistical information OF the progress
made by the system as whole and by
every department in the nineteen years
since his first election to the presidency,
in May, 1887. statistical table is also
presented. showing the relative gains
made by the Illinois Central and other
large systems.
Since the breach of the Mutual Life In
surance company which led to Mr.. Fish's
resignation as a trustee because other
trustees refused to indorse his advocacy
of a thorough housekeeping there have
been many reports that E. ii. Hartman
and others who objected to Mr.. Fish's
action were bent on ousting him from
the presidency of the Illinois Central
Whether or not Mr.. Fish made the re-
port with the idea of fortifying his man
agetnent against attack by the Hartman
interests and inaugurating a campaign
for reelection the figures contained in
the report are available for that pur-
pose.
In comparing the progress of the Illinois
Central between 1886 and 1905 with that of
twelve other systems, Mr. Fish takes
three eastern trunk lines, six lines run
ming out of Chicago and three southern
lines. He shows that the aggregate gross
receipts of those roads increased 245 per
cent, In the nineteen years. while the in
crease on the Hin Ms Central was 1854 per
cent. The latter re ID showed an increase
of 227 per cent in dividends paid on com
mon stock against a gain of ITO per cent
Q.... ~ 1. q r1D
cent in units of service performed against
an increase of S39 per cent for the others.
The capital stock of the Illinois Central
showed an increase of 227 per cent as COM
pared with an increase of 104 per cent
for the others. In reference to this Mr.
Fish says
'or every share of added capital the
company has received In money at least
it's par value. Each stakeholder. In re-
spect to every new issue, has precisely the
same right and opportunity of subscribing
and in no case has the company paid a
dollar for having any of its stock under
written All of which proves that the
shares have been held by the general pub
lie for investment, and that those owning
them have had such an abiding faith in
the enterprise as to have thus admitted
of an increase in the money at the risk
of the business, from S29,0O0,0O0 to $95,04O,-
co.,
After presenting many tables showing
the growth of the property under his man
agement Mr.. Fish concludes with this
statement:
''That which has been accomplished Is
primarily due to the consistent way in
which the board of directors have, since
1890 followed the conservatively enter
prising policy then so wisely adopted
You and your predecessors have inquired
patiently into the various projects brought
to your and their attention and in all
liberal and whole hearted manner have
after due investigation and discussion
provided the means for raising all the mil
lions of money needed to enable the com
pany to meet the enormous and constant
| ly growing demands for more and better
service.
'It only remains for me to enter my
thanks to you and to the stakeholder:
for the confidence which has through al
these years been put in me and to once
more express the gratitude which we al
owe to the able, experienced and upright
staff of officers who have for so long beer
associated with me in the management
and to the like-minded men under their
in every branch of service