The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1907-10-15
MR. /. FINLEY ! Denies ! ] !
A ST VI II STORY TO y
Southern Railway Has Not
Stopped Construction Nor
Curtailed Operation.
r. s: u MUST Us! WAIT
suspensioneof Work by Virginia
and Southwestern on Con-
meeting Link Only.
IMPROVEMENTS MUST WAIT.
Times-Dispatch Bureau.
Munsey Building,
washington. 5. C., Oct. /

- =
That construction work on the
Southern Railroad has been stopped
or that any operations OF the road
are curtailed, either as retaliation
against adverse state legislation or
because OF 1essened income due to the
new rate laws, is emphatically denied
by President Finley, OF the Southern.
The report from Asheviife published in
several papers this morning to : the
effect that the Southern had decided
to discontinue the operation OF tho
Virginia and Southwestern Railroad
owing to lack OF. capital is by Pres1-
dent Finley and other officials termed
an absurdity.
The Virginia and Southwestern, they
say, Is not now and never has been
operated by the Southern. but by a
separate corporation, whose president
~ j. 3. Newton, OF Bristol.
The Southern has acquired the ma
jority OF the stock in this road. but
IL Is still under It's original manage
mont, which will continue to operate
1t. This Is but IAN illustration OF the
continued rumors that the Southern
is curtailing It's operations and dis
continuing Its construction work on
account of the recent agitation. Presi-
dent Finley admits that the road Is In
need OF new capital In order to carry
out the contemplated and much needed
improvements In the roadbed and gen.
eral equipment but he declares that
this is true Of practically every other
road in the country, fact due to
general financial conditions and tho
present attitude of investors toward
railroad securities.
improvements Must Walt.
THE management of the Southern
fully appreciates the need OF i'm
proved facilities in the Southern
States" said Mr.. Finley. "And 1t In
tends to- make these improvements
as rapidly as Its means permit. Our
income. Just like that OF rpost roads,
Is at present insufficient to provide
ample funds for extensive improve
ments. and such Is the attitude OF the
public toward railroad securities that
1t Is impossible Just at present to sell
any securities on basis that we'll
managed business concern would ac-
cept.
Many important projects for Improves
ments must. therefore, wait. Certain
projects upon which work Is being dis
continued have not been Abandoned:
they will be carried out just as soon
as the necessary capital can be Sc
cured"
President Finley stated that the re-
port OF operations ceasing on the Vir-
GINA and Southwestern may have
arisen from the fact that the construc-
ton or short connecting line of some
thing like forty miles from Gate City.
Va. on the Virginia and Southwestern,
to point In Tennessee near Rogers
Vile. on the main line OF the Southern.
has been temporarily suspended This
line, while short. is an important one,
for 1t will save a long trip around a
bend. around which at present the coal
from the mines on the Virginia and
southwestern must be hauled to North
and south Carolina But the road can
do without 1t at present. he declares.
anG 1t can wait till financial conditions
are such that the money can be spared
for this and other improvements