The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1914-10-14
BRANCH
is MADE DIRECTOR
OF SOUTHERN ROAD
Edwin "A. Alderman and
Bishop Kilgo Also Put
on Board.
ANNUAL MEETING OF
sT0CKHoL LpERs HELD
Southern Men Now in Majority
in Management of Great
Railway.
GARY AND BAKER RETIRE
Voting Trust Is Dissolved and Inter-
locking Directorate Is
at an End.
ANNUAL, MEETING OF
STOCKHOLDERS HELD
GARY AND BAKER RETIRE
Voting Trust Is Dissolved and Inter.
locking Directorate Is
at an End.

Z Is . .st. - i = 6 &
Carrying out the announced policies
! ing the Southern Railway q more dis
tinctiyely Southern institution, the
stockholders at the annual meeting,
held inThe Times Dispatch. Building
yesterday morning. elected as directors
John Kerr Branch, vice-president of
the Merchants National Bank. of
Richmond: Edwin a. Alderman, presi-
dent of the University of Virginia. Raw.
John G. Kilgo. d. D., of Durham. n. c..
a bishop of the Methodist Episcopal
Church. South, and Robert Jenison, Of
Birmingham. Ala. Charles Steele, OF
New York; City, a. partner in the firm
of j. p. Morgan G. Co., was reelected.
The election makes majority Of the
board from the South and fulfils the
hope expressed by President Harrison
In his first address before Southern
audience at Chattanooga, on. January
90. when he said: 81 look forward to
the time when there may be more
Southern men sitting on our board of
directors
RETIRE OUT OF DIFFERENCE
~ TO PUBLIC SENTIMENT
Mr. Steele succeeds himself the four
newsdirectors filling vacancies caused
by the deaths of w. w. Finley and II.
c.. Eahnstock, the resignation of George
r. Baker. Jr., of New York, and the
,J
New York, to accept reelection. Judge
Gary ,whoiis chairman of the board OF
the United. States Steel Corporation anG
Air. Baker, who is allied with num-
Der of other corporations. nre retiring
from the board of directors of the
Southern Railway largely IN Difference
to public opinion of THE present .dayEin
regard to tointeriocking directorates,,de-
spite the fact that both have been ac-
tive and useful members of the South
crn board.
Yesterdays meeting of tire stacS-
holders of. Southern Railway was Sthe
irst ut which tkcy have, Had tile op-
uuytynitg dirgeffy f5EYfaEs n Ra hi In
the manhs cement of it's AFFAIRS arid The,
election of directors, the voting trust
ghnfzation of the companylin 1894 now
being in, process of dissolution.
FIRST GENERAL MEETING
OF ACTUAL STOCI<HOLDERs
\ large number OF stock holders At
tented the meeting in person. and over
was represented. The meeting was
open TO the public, and there was full
and frank discussion of the report COW
ering the operations of the company.
for the fiscal year ending June 80, and
of the recently accomplished financing
before approval was voted a num-
Der of the directors and the principal
officers were in attendance and an
swered questions asked by stockhold-
ers touching the management of tho
property and gave all Information re-
quested in regard to the affairs of the
company and the progress Of the ter
ritory wnich II serves.
PRESIDENT HARRISON SUBMITS y
tTWESIIEFH ANNUAL REPORT
President Harrison submitted 4 the
twentieth annual report OF the COM
pany; Referring to the actual result
the financial condition of the COM
by the income, statement and the gem.
eral balance sheet and with special
irefernece to an. increase in operating
expenses OF i.T6 per cent. compared
with an increase of only 1.47 per cent
in operating revenues the report saws:
THE slack ening in the general VOL
ume of business done lin the, United
States which has been so marked dur
ing the past year, was. felt last of all
in the South, but had become part
of the problem of management of this
company with the opening of the CAL
endar year 1914. The high level of eN-
pense of operation is maintained not
so m Sch by any nutural economic law,
lect OF management. as by general So
cial tendencies which arc in substan-
tial measure abnormal and beyond the
control OF management. cit can hardly
be expected thdt the operation Of an
American railroad shall be again on a
normal basis unless, and until, the
question Of the railroads shall cease
to be a factor in American politics.
~. f(,ontJnuod co.Irrh;rd -r,a -. y $500