The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1914-05-01
FAIRFAX HARRISON is
H0N0RED AT lYNCHBURG
Hnnquct Is rendered to President of
the Southern hallway by Cham
Der OF Commerce.
mh TALKS OF DEVELOPMENT
bankers Realize Tint South Ii Coming
Country and Arc Putting Their
Money Here.

lSpecloi TO the Times. Dispatch.
Harrison. president OF the Southern
Railway. was the guest of honor ut
the Virginia Hotel tonight nj II no
occasion being under the auspices of
the Lynchbu:G Chamber of Commerce.
George w stevens and l.. l.. Johnson.
presidents of the Chesn peakc and Ohio
and Norfolk and Western Railways, re-
spectively. were also guests of honor,
and all three executives made adj
| FicePresidcnt Davant and Mahr. Of
the Norfolk and Western: NJ. J. Caples.
OF the Chesapeake and Ohio and L. IL.
Coapman, of the Southern, were also
present. The event was absolutely in
FORMAL, and several stunts were
! pulled oil on the guests. one of these
Vas waiter strike. prominent resi-
dents volunteering to serve. This they
ana Tor one course, when the walters
resumed. +. S. Kirkpatrick. n Norfolk
and Western attorney here, attircd as
"a Kussian anarchist, entered the ban
quot hall. and while berating the presi-
dents he was elected by Chief Of Police
Seay. President Harrison talked on
fpl view for the future: Mir. Johnson
pleaded for cooperation. and Mr..
Speke ST,E
way men were given an auto ride over
the city during the afternoon Covers
were Ere iada az the b2nIuet for 100.
the South and the Southern Railway.
MIR. Harrison said:
Every one of you has IL large personal
| interest in the perfection OF the Southern
kaiiway as an instrument of commerce.
steady determination TO to nccomp rIn 'e Every
year step towards the realization of your
aure bringing into tho South many millions
OF new money. We cannot hope to earn
that We need 20 spend on these railroads. as
voted all OF income to tina, end. and for
Of
| the Agricultural and Industrial South -
with II. much less keep ahead OF it and so
hep 1t 10 grow. Neither Is the South Il
buying our securities Under the operation
OF the new Income tax law VIC have had
certain where and By whom many OF our
railway SECURITIES are held. In this way
bonds. and lind that they held not only
the United states and in many foreign coun.
tries ana 10y nearly HOO individuals. OF this
.lividuals res!den; in the states the Southern
kai,May serves and 81 per cent OF these
of Richmond and louisville. This demon
stratcs that the money We have secured for
In the past has been drawn not from a few
.ich men, but from an army OF Investors hav
than ii0oc5 apiece. and that the soath itseit.
which has had the benefit OF the eNpendi-
ture Of The money in the promotion OF
yet contributed only per cent of the capi-
Until the South is prepared to supper,
our capital requirements on II larger scale.
eHannS SHA for the fn we as,r,S
! Hon of large blocks OF securities among q
and this necessity brings us inevitably to-
the banking community. to the hated Wall
street for access TO the money we need to
| Il GLAD to be assured that these bank
/ cvs have realized ;hIt the South H. the COM
/ II
confident that they can safely venture their
rsenGtation in distributing the securities OF
day conditions am glad, too. to believe
that ! have their personal confidence ana
| that they Will listen my recommentIa-
,ions. They have already supplied Slj0l)0)o
sice the Is, ei Janns si,yh a ftc0 o
they are ready "a supply more for further
| Improvement Of the Southern Railway plant
All al this Is to he spent for the South
most of !, in the South. In such ways that
eventnally II viii seep into the accounts OF
many southern merchants. Just rs the pro-
ceeds oi large crop eventually reach the
, Every one whom now address
money and In what Will result In the way
Of personal convenience anu facility ior do
II II new crop worth $1,000. 800 had been pro-
dnccd in the south this winter. Think what
| the rejoicing would have been Ii II had
1T is. then. OF great Importance to you and
TO me and to all the people OF the South TO
have and 10 hold the confidence OF these
bankers. The way to accomplish that Is
/
al the bankers business. do not even pro-
pose new statute TO compel them TO sup
ply Us with money: that mght be the
simplest way but 1t appears that inves-
I legation nor any statute has yet been devised
to make banker invest where he does not
want TO invest; such miracle is uppar-
entity one OF the few things which neither
an Investigation nor statute can he made TO
perform The bankers do not ask ANY Erati-
tude. any lip service. for they expect to get
their reward In the form Of Il commission:
that is their business. They do not expect
10 control the railways the popular
Imagination pictures them as doing. TO make
rates and initiate policies affecting the well
fare Of thousands OF people. Never In my
personal experience with them. and IL has
been an Intense experience over many years.
have heard suggestion OF that kind or
Interference. nor hav. | experienced an at.
tempt TO exercise such power through the
/ control of the sources Of money.
"ln Il prosperous community ihere is only
one condition OF the bankers cooperation.
bu; It Is an essential one-that the pubic
shall be as fair in the treatment OF invested
. capital as IL has demanded that those who
control Invested capital shall be fair 70 the
public.
personally. I have no doubt tina. we in
the South shall meet the condition and get
all the money we need"
riIhCDhI OE nd ri ADV