The Montgomery advertiser., 1907-06-12
FINLEY TO EDITORS
RAILROAD PRESIDENT SPEAKS AT
 JAMESTOWN.
chief Execative Of Southern Discusses The Transportation Problem From Viewpoint of the PeO-
 pie Who own Securities.

pie Weo own securities.
 | Norfolk, Va, June 11.--President W. | W. Finley, of the Southern Railway Company. delivered an address before ' the National Editorial Association at the Jamestown Exposition this after | noon, In which he asked the editors to look at the transportation problem rom the viewpoint of the railway | manager and to consider the difficult ues confronting him in his efforts to improve railway service.
 MT. Finley referred to the newspa- per and railway as the two most pow erful agencies for the social and ma terial development of the country and to the desirability that they should work harmoniously together for the advancement of the communities in which they are located. After referr- ing to the duty of the railways to give all proper information frankly and freely to the newspapers and of the newspapers to be careful of the facts on which they base their criti- cisms. MT. Finley said:
 Editorial criticism, when based on clear understanding of all the facts involved, and when written in spirit of fairness. may be helpful to the railway and should never be resented by the railway manager who has proper appreciation of his duty to the public. as well as to the railway. In fact, in this country, where legisla- tion affecting railway interests is based so largely on public opinion, which is molded by the newspapers, the lasting prosperity of the railways must depend in no small degree upon meriting and receiving your support. If you advo- cate policies that result in legislation arbitrarily reducing railway income and impairing railway credit, the in- evitable result must be that the rail- ways will find 1t difficult If not i'm possible. to secure from investors the funds needed for the extension and improvement of their lines. On the other hand, if you advocate policies that are economically sound and that recognize the right of the railways to just and fair treatment, there is lit- tie danger of the enactment of leg islation that will be unjust to them and that will react upon the public" Railway Problems.
 MT Finley, after suggesting that the editors should look at railway ques- tions from the viewpoint of the rail- way manager and consider his diff culties, reviewed the railway problems of the day, declaring that the most difficult problem confronting the rail- way manager and especially the mana ger of railway in the Southern States is that of providing facilities for the | transportation of the constantly tn- creasing volume of traffic that is of- 1 fered to his road. He gave statistics showing the rapid development of the | South in the past quarter of a century, and the resulting increase in the de- mands made for transportation service. showing that the ton mileage of the railways in the South in the years from
 1894 to 1905 has incerased 1887 per cent, against an increase of but 117.5 per cent in the ton mileage of the Northern States east of Illinois. In the same period, the passenger mile age in the South had increased 117.6 per cent, against 40.1 per cent in the | Northern States east of Illinois. This | development of business had been made possible because the railways of that | section had been able to handle the | increased volume of traffic, but in the | immediate past production had in- creased more rapidly than transpor- tation facilities and, the choke-point of today in Southern commercial pro- | gross was in transportation. If South ern progress was to continue, facilities would have to be largely increased in the immediate future. MT. Finley quoted from President Roosevelt's h. dianapolis speech his emphatic declar- | was additional transportation facilities, Endorsing this, MT. Finley said:
 ."The need of the hour, as the Presi- | dent has stated 1t, is the need for bet | ter transportation facilities. The ques- | tion of the hour is how are these Ia | cilities to be provided so as to meet | the immediate emergencies that are | pressing upon us. It Is a question that l is daily confronting the railway man. | h hiS ic directed | ditions in one locality after another that are calling imperatively for tm- provements and additional facilities to provide which large amounts of new | capital would be required. These fa- cilities can not be produced by the touch of a magician's hand. They can not be provided by destructive criti- cism of the railway system of the country"
 Improvement of Securities.
 After quoting President Roosevelts strong argument as to the importance of preserving railway credit, Mir Fin ley said:
 "Unfortunately. conditions which the President has said must be scrupu- l lously guarded against already con- | front the railways of the country. | Largely as result of legislation | enacted in some of the States and !
 tainty as to future State and national Legislation even though some of that | proposed may not be harmful, the values of railway securities have been l impaired and such investments are, Tor the moment, not attractive. This con- dition has been brought about by agi-
 tation undertaken with a good pur- l pose and for the accomplishment of proper objects, which has gone far be- l yond the original purposes of those
 who initiated it. It is easier to set the
 prairie on fire than 10 extinguished the
 conflagration. Having corrected rail-
 way faults, this agitation now threat | ems railway credit"
 MT. Finley said that the railway
 managers of the United States had not
 been unmindful of their duties and re-
 responsibilities; that those of the South
 ern States had not been unmindful Of
 their duties to the people of that | section. He referred to the expen-
 allure by the Southern Railway Com
 pany of over $96000,000 for additions
 and improvements and said that
 the company was not without con-
 prehensive plans for continuing
 its Improvements, nor was it without sound financial plans for
 securing necessary capital Arrange ments had been made more than | year ago for the issue of 4 per cent.
 bonds to the amount of $200, 100000, l part for retiring, at reduced rates of
 interest outstanding obligations as they mature. and the balance for inn
 provements and bettermefts. Ha de-
 clared that the management of the company Was prepared as soon as con-