Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1907-04-01

Helena, Mont, lighting and power
plants in Porto Rico, railroads in east;
.ern Pennsylvania, lighting works in
Monterey, besides electrical works in
Maine, Michigan, Long Island. and
Iowa. The contracts that have been
mentioned are only a small part of the
work that is going on. Several scores
OF smaller enterprises are being car
red out by the company.
The White company is only one of
the large organization of capital and
engineering skill. The Macarthur
brothers of Chicago is another firm n
the same class. 1t was in the MacAr-
thur-Gillespie combination that bid ON
the Panama canal
1t is engaged in large steam railroad
enterprises. The Arnold company of
| Chicago is another. Westinghouse,
Church, Kerr & Co. of this city is an
other similar concern, but it confines
its operations chiefly TO electrical work
! in all parts OF the world.
The Atlantic. Gulf and Pacific com
pany, with headquarters in San FraE-
cisco, is another great concern. as are
OROurke * Co, who are doing the
great tunnel work for the Pennsylsa
MIA and making the improvements tor
/ the New York Centrals New YORK
terminal Half a dozen other similar
firms might be named.
! The effectiveness of one of these
concerns depends entirely upon its or
ganiZation. Each is divided for work
, ing efficiency, into engineering and con
structing. the financial and the operdt-
. ing department
| All Subdiyided.
| Take the engineering department
1t is, in Il typical example. subdividsd
! into five engineering bureaus. named
the civil mechanical, electrical. hy-
draulic. and street railway bureaus. In
addition there is purchasing depa l.
ment which acts for each of these bI-
Teaus and also acts independently.
1T obtains supplies of all kinds.
from dredges. locomotives. dynamos,
down to stationery. Each of these Ou-
1eaus has its chief engineer and staff
of assistants, whose number varies 20
the work in hand.
The financial department is COM
!, parable to the financial department of
life insurance company. 1t has high
officials and low. The directors of the
company represent largely great bank
ing houses.
They seek the contracting conce n
as an outlet for their investments.
, Loans have TO be made and bonds fioa--
ed. A complicated system of account
: ing must be maintained.
, Heavy payrolls must be looked ont
for. Checks and balances must be pro-
t vided. Adjustments of capital must he
made from time to time.
:! Frequently the contracting company
I becomes so confident of the ultima e
success of some operation that it put
: up part of the capital itself. Il takes
bonds and its profits go into industrial
enterprises as well as into banks.
. The investment of its securities and
! the twisting and turning to get tn,
most out of the money involved and
s the payments on work present nicy
/ problems in finance and accountin,.
L and call for the employment of higt
n priced experts.
: "The operating department calls fo
S the employment of men who are COM
p petent to run railroads. light and pow
:, er companies, waterworks. with an II
e ficiency that the actual owners coul-
K not display. The benefit of large eA
u perience and of the successful owe:
L coming of difficulties in operating al
d kinds of mechanical plants is secure
in this way"