The French Broad hustler. [volume] (Hendersonville, N.C.) 1896-1912, 1906-12-06

U.S. W oS 11AA4bS0 III EXbAS A4o0I
Route Of Southern Railway.
Washington, d. c., Special-At
joint meeting of the voting trustee
of the board of directors of the South
ern Railway Co., held at its ofic;
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 in Colum-
bus, Ga, March 2, 1S47, died Nov.
20, 1906, near Lawyers Station, Vir-
g1nia, 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
a~fectionate 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-
lection of his fellow-workers In the
service of the Southern Railway Com
pany. The Importance of his service
TO this company is a matter of com
mon knowledge throughout the rail
road world; but the. character, the ex-
tent, and the consequence of that
service are and a 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. Pr
erpont Morgan and conducted by his
partner, Charles II. 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- |
comOtives and 1854 ears, which car
ried 3,427,85S passengers and $685.
100 tons of freight and earned $16,-
643,298. In the last fiscal year, the
Southern Railway system embraced
1915 miles of road with 1929 loco
motives and 421IO ears, which car
ried 11,663,550 passengers and 27.-
339.337 tons of freight, and earned
$53,641,43S. The number of en-
had increased from 1918. |
June 30th, 1895, to 37,O03 June 3Oth, |
1906, and the wages paid from So.
n2,796 to $21,199,020. The full de-
tails and impressive character of this
remarkable advent, too extended for
present recital, are exhibited In the
masterly communication which upon
February ]. l90G, Mr.. Spencer adj
to Messrs. J.. P. Morgan &
Co., as the basis of the development
and general mortgage.
Tin this progress every step had
been initial and conducted by Mr..
Spencer with the cordial concurrence
the voting trustees and the board
directors, and it is significant of
-ae conservative and cautioned DO
'ition of Mr.. SpeI Ger and his sup
o%orters, and this pre nominal enlarge
nent of the system and its business
vas not made the basis of any in
crease in dividends beyond the
amount contemplated and stated in
he plans of 1898 with reference to
he properties originally re-organiz-
d: Every dollar that could be bor-
owed under President Spencer,s
management was put INTO the proper
y IN the effort to enable 1t to meet
every increase in demands of the
rigorous and wonderful growth of
he South and its industries. The
nightly fabric, which for II years he
ad been m~olding, must continue I'M
er others to develop and to improve
4 the service that shall render to the
ublie, but never can it cease to bear
ne impress, or to reveal the con-
impulse of the master mind
f its first president. In the height
t his usefulness and his powers he /
as been called away, but the inspir