The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1908-10-22

talk politics. No matter which way the
national election goes, it Will take bus
mess conditions just so long to adjust
themselves.
1T is the state legislatures that we
fear most. But regarding hostile leg
islations from these sources the rail-
roads are optimistic. Probably they
have done US all the damage they can.
The two cent fare was an outrage on
the railroads and this Will probably
in time be changed. Already the Ar
kansas courts have knocked out two
cent rate and in every other state the
rate is still to be passed upon by the
courts as to its validity. 1 would hate
to think that it had come to stay in
Kansas or in any other state.
LAS to the business outlook at the
present time, the Santa Fe is improv-
Ing. We are not hauling the volume or
business that we did a year ago, but
conditions are now much better than
six months ago. Our loss in business is
in the traffic usually handled from the
east. Business in the west is as good
as ever. The west scarcely knew what
the recent panic was. The entire coun-
try. however. is gradually recovering.
AT the present time the railways
are unable to secure funds to carry on
new improvements on account of the
shaken confidence in the money mar
ket. Bankers won't handle railway
bonds. We are unable to borrow
money as the bankers are afraid to
lend 1t.
"As far as the Santa Fe is concerned
= we will attempt no new improvements
during the coming year. We already
have a large amount of new work un-
der execution and we will carry these
projects through. Our double-track-
ing and the numerous other big pieces
of construction which we have started
will be pushed to completion
I'VE will have to feel our way care
fully and keep operating expenses to a
minimum Where reductions can be
made, we are compelled to retrench,
but We will not hesitate to make ex-
penditures where needed. At any rate
we will spare no expense in keeping
the Santa Fe and it's properties up to
their present efficient standard"
President Ripley arrived in Topeka
this morning fromKansas City on a
special train. In company with j. w
Kendrick. second vice president of he
Santa Fe, who is also here, he left al
8 o'clock this afternoon for an exten-
sive inspection trip Of the Texas lines
which he makes annually at this time
He will stop off at Arkansas City and
other division points.
The Annual Meeting.
The annual meeting of the Santa FL
stockholders, who number $4,000, wa.
held in the Office of General Manager
J. Z. Hurley at noon today. But a few
of the stockholders were present. mos
of the stock being voted by proxy. AND
there was little business transacted
outside of a routine nature. TIL,
meeting required but about twent!
minutes.
The chief business transacted at tn,
meeting was the reelection of four di
rectors to succeed themselves. TIL,
directors reelected were: f. J. Ber
wind, New York, n. Y, A. j. McCul
Tough of Vermont, A. c. Jobes o
Wichita and Henry c. Frick of New
York, n. Y.
The independent auditing firm o
Price, Waterhouse & Co. of New Yorl
city were elected Independent auditor
of the Santa Fe.
The out of town officials who attend
ed the meeting were: z. P Ripley
president; ]. w. Kendrick. second vic
president; George T. Nicholson. thir
vice president: w. B. Storey chief en-
gineer, and w. E. Hodges, genera
purchasing agent.