The commonwealth. (Greenwood, Miss.) 1896-1923, 1914-01-30


tions they are. To him who insist
that the railroads should be judged b
I their black sheep, It is fair in answe
\ TO invite attention to many exemplar
| OF high minded integrity In the ad
m!pistration OF railroad property. W
In the South can cite shining example
OF such rectitude. ] may be forgiven
a proud reference to my late chief
William Wilson Finley, whose oppor
tunities were not less than those o
any OF the fragrant individuals L
whom allusion has been made, but who
after years of devotion 10 a public duty
and the practice of a large private
charity, left an estate the amount Of
which, as announced in the public
press. Is at once a certificate OF can
did character and an illustration OF
just administration. One who knew
them can add to the same roll Of honor
two more executives Of railroads In
the South who have recently gone to
the gr~aye-Thomas NJ. Emer1on and
John w, Thomas, Jr.
Despite the holding OF railroad stock
outside Of the territories the railroads
serve, and despite the alterations from
integrity In the administration Of some
particular railroads, | believe that |
am not claiming too much when ] as
sert that such has been the develop
ment OF the recognition in recent years
OF the public nature and responsibility
OF the administration of the railroads,
and such have been the practical on
sequences OF that recognition, that to-
day in every essential a railroad be-
longs to the communities 1t serves.
In this aspect and in a very real
sense the Southern Railroad belongs
to the people OF the South. II Is not
only their highway to market, but its
fiscal operations are part Of the life OF
the communities along its lines.
At some risk Of trespass upon your
attention, ! venture to support this
claim with a brief argument from sta
tistics. They record a condition which
Is astonishing and | confess astonish.
ed me when | saw how far they 60
along the lines of a tendency which
! knew to obtain. OF the one hundred
and three millions Of annual revenue
collected last year by the railways in.
Guided In the Southern Railway Sys.
TEN, there was Immediately paid out
again along its lines at least seventy
Six millions, an amount not far short
OF the total collections from the peo-
pie OF the South: for approximately
twenty-five millions of the total reve-
nues were collected from people out
side OF the Southeastern States-a
'act not often taken into considera- !
Ion, the explanation Of which Is that
appreciate part Of the passenger
.rafic of the system consists of the
transportation of residents OF other
ocalities travelling in the South, and,
furthermore, that to a large extent
reight charges on Southern products |,
hipped to other localities are paid by
he c%onsignees.
What then becomes OF these great
evenues collected In the South? Are
hey hurried away to some cavern in
Vall street? No. The fact is that
II the moneys collected in the South
re deposited in Southern banks which
re drawn upon from time to time
My as funds are needed for proper
seal purposes. The funds of the sys.
sm thus become an important factor {
l strengthening the banks Of the ter. I
tory and SO are at all times at the /
sryice Of the Southern people. I
l have said that these funds are :
ithdrawn from Southern banks from '
me to time only rs needed for proper .
seal purposes, but YER in that opera. i
on, to a large extent, the moneys col. &C
eted for transportation service on ?
IT lines are not withdrawn at all from p
&c Southern communities ini-which a
icy are collected. This can be dem. L
istrated by an analysis Of S%outhern 2
ailway expenditures for the last ifs. 3
year. Such analysis shows that. t
every dollar disbursed, 41717 cents
ent to the payment of wages, sub. e
antially all Of which are paid along O
o line of the road. and So remain Z
Southern banks. a disbursement "
hich, for the Southern Railway prom. a
averages about two million, dol. p
a month. The purchase of ma q
and supplies used &c. 80 cents, 10
d. under u policy Of buying as tar y
practicable from Southern people, q
IL cents Of this was expended In y
0 South and only Ais scentsgin other re
Miscellaneous operating ex- ~
required SOD cents, all ~spentI, 4
the South. Taxes, all paid in tho To
uth, required 8.65 cents. Interest. OF
ltals and other miscellaneous nav. sc
'nts accounted for 2O83 cents, and al
; holders Of the company,s prefer. IN
J stock received A. 2Ieents. II NJ un. to
.tunately impracticable to determine pa
} proportion OF interest and diyi- po
nds paid to Southern owners of tn
nthern railway securities. ! wish Of
was all paid to Southern people. ha
!, leaving these entirely out of ac. en-
INT, 1t is seen that at least 7O5T co,
It's out OF every dollar expended nv -
southern Railway remains lin or IL -,
'ught into the South. 1t may be add. pol
that these figures do not take ac. DIT
mt Of expenditures Tor additions and, bel
amounting last year to- chi
ee millions and a half and in, ten mig
.rs to t~wenty.seven millions of the
the major part, expended on I'm,
dway and structures, was pract' cal! 80
paid out along the line OF the
a.. We may then take II rs es. NO
'isfed that what the Southern par
pay the Southern Railway lines for OF,
isportation remains q part Of the tut
king capital OF the Southern peo. 10