Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1907-10-16
SOUTHERN RAILWAY EARNINGS


The income account of the Southern
Railway Company for the fiscal year
ended June 80, 1907, was issued yesler-
day, aod with it the remarks Of Presi-
dent Finley, which will he a part of ths
lnll pamphlet report. The statement
shows an increase of little over SS, OOO,-
600 in gross earnings for the year and
a decrease Of nearly $4,000 600 in net,
resulting from the heavy increase in
operating expenses. President Finley
sqys of he causes for the increase oper-
sliug expenses:
"The conditions OF operation during
the last year have been extraordinary.
Tho investment OF new capi!sl IN the
construction Of double track, additional
wards and new lines has increased the
fixed charge upon the revenues of the
company without securing for The mo
ment an immediate corresponding bene-
fit, relief which can come only with
the completion OF the new work. 1t is
more apparent every day that this bene-
fit will more than Offset such increased
fixed charge WHEN The new facilities are
put in operation, as they will be largely
during the current year.
"Great as are the bkfdens upon the op-
grafton of railroad today by reason Of
the increased cost of materials of all
classes and the unsbating expectations
of labor, on the one hand, and legisls-
tive reduction of revenue and increased
tsxes, on the other hand, the crying
need of the railroads Of the South ia
raore track, more equipment, more term
isal facilities. With the strategic po-
sition and established relations which
the southern Railway Company now
hiss, there would be no stint in the
amount OF traffic it could obtain and
proftably handle if it had the facilities
necessary to afford to those who offer,
traffic the service they demand.
"During the last winter there we're seri-
GUS congestions of freights on the lines
of this company, whidh we're due, al
most without exception, to the failure OF
the plant to respond to demands which
we're made upon it beyond its capacity.
Apart from congestion of traffic, the
expenses Of operation, of which mention
has b,en made, have been extraordi-
nary"
President Finley also refers at some
length TO the growth of diversified indus
try in the South, particularly along the
lines of The Southern Railway system.
The South, he points out, "now meltS
more than one-hslf the pig iron and
converts into cloth and garments more
than oBe-fifth the cotton which it pro-
duces Its phosphate beds have formed The
basis for the m inufscMre of commercial
fertilizer on such scale as to make the
South independent of outside sOurces of
supply and to add greatly to her agricul-
tural productiveness. The manufacture
Of furniture has grown to such propor-
tions as are not exceeded In any other
like section of the country yet, without
decrease in the volume of lumber sent
from the South to other markets OF this
country and abroad. fhe production
Of coal has with difficulty kept pace with
the development OF industry. not because
OF inadequate supply, bat because of re-
stricted transportation facilities.
Concerning The relations of the South
ern Railway Company with the public
Mr.. Finley says:
"In all the dealings of the company
with the public it is the purpose OF the
management to cultivate a spirit Of CO.
operation, 10 deal justly with all the
patrons of the company on the basis
of sound business and economic prin-
ciples, and to this end particularly
special efforts have been made to bring
about courteous and considsrste treat
| ment by all employees of every person
trsnsacting business with the company.
These endeavors have not bean fruitless. +"
That the South is not hostile to rail-
roads is one of the declarations appear
ing in President w. w. Finles's state
ment. In fact, President Finley says
there is a growing feeling among ship
pers and travellers in that part of the
country in favor of a reasonable treat
ment of railroad enterprise. The state
ment then cites as an indication OF the
rapid industrial expansion of the South
that las! year no fewer than $50 new
plants of various sorts we're installed
along the Southern Railways lines, and