New-York tribune., 1908-02-21
sN TO MR. ROOSEFELT.
President Smith Replies to 'f0ge
Reference TO His Railroad.

, es,A ,-esident of the Louisville q
Nashville Railroad Company, VINO i - ei's -
,ss,,ed the following statement Sesteie'S' "a ;.
orso IA the reference made 20 ms COMPANY "a
,r,,,,rtc rion addressed 10 the lnteIstate
r--,.-ca Commission by President RooseNei'' o'-
rss-+,g mat body 10 examine into the Justhcalioi
Tor rroposed reductions OF wages oi fa'ioa1 e".
poyes: ,u,, 81.
A. the United States government, threush thr ~ 80
lnferstate Commerce Commission, enoel ,|1 ne sI
.,,Trnl Of railway administration throdea ~
XII Il Nashviie Railroad Company has N @ o9f.. s.
ance with the order oI ne ools1o SsTS showing re-
81 sun - q 7sts 1eeded to enable promptly advise
- 70 the conditions obtaining on the LoulsElie q
Nashville Railroad JuStlfAins 4 e, ia will
pay Of officers and employes. oqcn ere Ds Gss been
material increase IN the pay OF nsalas ~ Of ,9lsnX
classes becoming effective on MaTch J. lso'. - ot<,
material increase in the gross and net revenues OF
the company that for the year enoeo Jun v.3Tf li
slight nominal increase IN net refS1es, ., anu
Was a small increase in gross revenues. large m
crease in operating expenses. and i corresponding
decrease in net revenues ,t-. +o- tho year
To paTcuIze: Ihe gross 3 sFninsF 5Tr se over over
previous gear. $o154sis Operating e S@Se lss1-
81 3i increase over previous year S4sl-'SSS' a.
ing other income and dedUctng taxes. hXed charSs
and dividends 0he dividends being ne , same uo- ~
the six months ended December q, ls1l, there was
an increase in gross earnings OF Ssl0s; opeatl5e n 5
expenses. s25i2.76; net earnings deereaSea s!1-os
SIS Adding other income and deducuns s IaAess,
hhsa n Surplus TSs of si75sIa fi7S ga i''-''S '''
The result q operations for December was as
loaLoSso sl i,'1saSa5 sSSs 445 nef earnings de-
Ing ~ SaS sSs a5dn S1hT income and deduct
I IS 5cIIy+5r I ri5ends shows deficit Of S257 .sls
The result eNhibited in the foregoing statements
imposed upon the management the duty OF IeduC33
@essiFf ~ and effective February /, 1905. the
pay OF officers WIS TgaQeed ,Sat o On ~ March their
pay would be reduced 10 approximately the same same
s my %f5g sTc @ The President Of the United
sTsres assumes that il is possible that there may
L. a contenTion between the Louisville & Nashville
suit in destruction OF life and property ana pubic
sn confident If @ t 9atse s9iR an e RpSin IRaSTe geat
Justice During a similar depression IN 4o55 ~
q reduction Of % and 70 per cent II the Pay & IIeE
Ss5s TsTs Ifsn fs st IN eeet in Ferusry 1907
basis 10 which ii is now proposes 70 IeoIGe te p r
rloyes Of the Louisville & Nashville Railroad CON- ,
pa9E are row less l2SsI sie9 iah eeK N ssuD that
they viii accept the moderate REDUCTION pfopose1;
b' b2 the FTesent Of the United states is not con
teEtzf hy any one conIeGtfo f ,ein Mis Heir en-
53ios7a-- - re rates in effect year ago, when
erg Teatiye&E ii & gTeasT 5d4 t9sn faTtun NAE Compared with
that Of the thousands whose services haye, ,f been
enfoTced idIeness with lis unfortunate results;
dents COMMUNICATION in which he quote. . from -, q
communication Of confieentla! characser Io
Sai-os5 ror1nsnv % The system chairman Of the
brotherhood Of Locomotive Engineers @ and lle
rLai-rnan 1f The Order Of Railway Conductors;
s.r,re of them the Louisville NasRre, IN az. az,
-7orlncinc, -he reduction states that the oraSSl
laws irical 10 the interests Of the RAILROADS that
have in the last year two been enacted oE on
.ress and the state legislatures are laIetIE tI
chief7v responsible for the conditions requiring 'lie
reduction. .,.z ,,o.a.io, fror,
7hp same communication: ,,.. -x-o,.
T7r@Se1l- business CoDdltiofiS conf
.,- a-d with the drastic laws ininllcal 10 the
Interests II the railroads that hare in the lSl
o. two been enacted by Congress ana by me go
legislatures which have resulted. and ~ WI! uii-
5,,t+s7i,- continue 10 result in the loss OF revenue
o-S i~c-ease,5 exoense thereby greatly impalT1ns
Tl1e rorDanys credit. ii is clearly apparen! liat
there exists urgent necessity AoL iOoe@e1-O- 49,
-he coYruany'S expenses H.. 49, ,,r
- ,o,raqer Of the Louisville & NashvllIe Ran
-os5 1'orpary did not assert that the leslsat -;
- .s,s,-e1 or chiefly responsible for the condl,
ions re0lirue the reduction. but thaL sgCl @ IeS
ssTe.io- sbas resulted. and VIII undoubtedlN coIl-
49, -se-i1- IN loss IF revenue and increased eX
,erra.,oa statement which am sure no one VIII
a-1eruvt 10 ccntroVert