Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1913-09-19
UNIQUE RAILWAYS.
Three Lines Attracting Wide Atten
ton to the South.

Three of the most interesting and
unique railroads in the world are in
the South. Two of them-the Glinch-
field and the Virgnian-Were built
practically without regard to initial
cost, with view to enabling them u
handle traffic at the lowest possible
figure. The remarkable results which
have been obtained by these roads
demonstrate the wisdom of their
builders. The third-the East Coast
Line of Flofida-stands pre- eminent
among all the railroads of the world
for uniqaeness by reason of the con-
struction Of its Key West extension
over series of long viaduets stretch
ing from island to island along the
coast of Florida. This road, like the
others mentioned. was built at cost
that would have staggered any ordi-
nary financial genius and when pro-
Jected was regarded by the ablest
bankers of the country as a visionary
project of Henry NJ. Flagler, and ono
which would never be financially pro-
fitable. Indeed, some of the best rail-
read men of the country looked upon
these three enterprises as visionary IN
the extreme.
The building of the Clnchfield road
at a cost of about $150,0o0 = mile
was claimed by some railroad people
as foolish venture destined to dis
NAL failure The building of the Vir-
ginian by Fl. IL. Rogers, which, like
the Clinehfield, was built at an enor-
nous cost per mile in order to secure
low grades and freedom from curves,
was also accounted by many as an I'M
dertaking hardly more wise than Mr.
Flaglers extension of the East Coast
Line to Key West. And yet all three
of these roads has demonstrated tn
pre-eminent wisdom of their builders
AS the Clinehfeld road was proba-
bly, the eostliest $50 mile line ever
constructed by a new road, it is inter-
estlng to note that its operating cost
in proportion to its income is proba-
bly, today the lowest in the world for
any important road.
The Record gives a column or more
of facts and figures to prove the state
ment in the last paragraph above, ami
also to show the splendid work the
road has accomplished in developing
the resources of the country thrueh
which it runs, including portions of
Virginia, North Carolina and Tennes-
see, and the proposed developments
in South Carolina. 1t then says of
the Virginian Railway:
when Henry Fl. Rogers deter
mined to build the Virginian Railway,
he planned to construct a line some
what like the Clinchfield, to be built
at a very heavy first cost in order to
handle traffic at a low figure. 1t is
said that Rogers had in mind the pos
siblity of reducing the cost of oper-
ating expenses to as per cent. of the
gross earnings. At that time such a
figure was regarded as almost, If not
quite impossible. The Clinehfiela,
however, has already beat that figure
and the Nirginian is rapidly reducing
its operating expenses, having cut it's
operating cost from 6143 per cent.
for the fiscal year ended June 30,
1872. to 57.75 per cent. for the fiscal
year ended 1918. The Transportation
ratio for the year was 235 per cent,
or 3.4 per cent lower than the 1872
ratio. During the year the Virginian
earned a surplus, after all charges, %
F 81, 01S, f3l, which is equivalent to S.66
per cent on the $27,779.00O, of ; per
cent. accumulative preferred stock
outstanding. When this road was built
some experts thought that Mr.. Rogers
had made a serious biunder and that
it would not be possible for the line to
develop sufficient business to justify
its existence, Its success has demon
strated the correctness of Mr.. Rogers
judgment, although it had been his
intention, prior to the panic of 1907, 10
carry this road on to the Lakes, and
thus greatly enlarge it's field of opera
ns.-Manufacturers Record.