The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1916-10-11
SOUTHERN RAILWAY
!, YEAR PROSPEROUS
Storms, However, Cost the
Company S1,25O,OOO
DIVIDENDS PASSED
Consumption of Cotton by Mills in the
South Shows Big Increase.
Four Directors Are
Elected
DIVIDENDS PASSED

Richmond, Va. October 10.-(Special)
John Kerr Branch of Richmond, Ad-
rian Ise1in, Jr., Charles Lanier and Ed
mund D. Randolph of New York were
reelected as directors of the South
ern Railway company for a term OF
three years at the annual meeting or
( the stockholders held here today. The
meeting was open to the public and
| there was a large attendance of in
| dividual stockholders. The annual re-
port of the officers was submitted and
approved.
Special discussion was given to the
matter of the payment of dividends
on the preferred stock at the close
of which resolutions approving the
policy of Withholding dividends for the
present were passed. In the annual
report it was stated that the dam
age to the property of the company
by the storms of July was estimated
at approximately $1,25O,ooO without
taking into account loss of traffic
or cost of detouring trains.
HARRISON'S REPORT
President Fairfax Harrison sub
mitted the twenty-second annual re-
port of the company. Referring to the
conditions under which the railroad
was operated during the year, the re-
port says:
The industrial characteristics of
the year in the south have been re-
vival and expansion. The march OF
progress, which was interrupted at the
outbreak of the European war by the
depression in the price of cotton, the
south's chief staple has been resumed.
This fact is reflected in the revenues
OF the Southern Railway company.
During the months of July, August and
September. 1915. those revenues con-
tinued to be on the footing of the con-
ditions which obtained during the pre-
vious year. but beginning with Oc-
tober they swelled progressively I'M
til they reached a volume greater than
at any similar period in the history
of the company. The result was that
for the entire year the revenues
amounted to s69,9s7.67524. or only
slightly less than in the year ended
June 80. 1914. which still marks the
high record on that side of the an
nual account. On the other side of the
account this year there are reflected
the lessons of experience learned dur
ing the previous year of depression
Expenses were so controlled that in
the aggregate they were actually less
than in the previous year, to the great
advantage of the income over all
charges, Which grew to S9,245,7 035S.
pr $2,215,7 1889 more than in 1913 the
last previous record in that respect
While this is a gratifying achieve
ment 1t must be noted also that the
pet operating income 1,004, 005. O9)
which is the basis of the results Sc
fIred this year. is the equivalent of a
return OF only 5.31 per cent on the in
Festment (s395.722,785.06) in the rail-
road and equipment which produced
l. 1t may perhaps be said that there is
20 industry except a railroad in which
so large a capital is risked for such
return in it's most successful year"
COTTON MILL ACTIVITY
The report summarizes the continued
iealthy growth of manufacturing in
he south and says.
"A notable feature of southern man
featuring development is the rate at
(Which the consumption of cotton. one
the principal raw materials of the
outh, has increased in southern mills.
United States census figures show that
the IL months ended July 81, 1916,
ne mills of the south consumed a.526,-
~ bales, as compared with 3,026969
ales last year, an increase of 499,S1S
ales, or 1851 per cent. The mills OF
II other states consumed 2,S69,1S5
ales in the IL months this year, as
ompared with 2,570,393 bales last year,
n increase of 29s.7s2 bales, or 11.sa
er cent Fully rs per cent of the cot
pm spindles of the south are in mills
long the lines of the Southern Rail-
Jay company and it's associated COM
tanies."
An outline map printed with the re-
Nort shows the distribution of the cot
pm mill industry along the lines Of
ne Southern Railway company and it's
associated companies. each 10000 spin
Res being represented by a dot. re-
hiring $40 dots to represent the $780,
20 spindles.
REFERENCE TO STRIKE
In concluding the review of the op-
fRtions and accomplishments of tho
sar, the report says:
During the year the organization
a the officers and employees was knit
Noser than ever before. The confident
aim that it Is now an efficient organ
alton, working smoothly and heartily
gether for common purpose, seems
be justified.
Demands made on behalf of COM
lratively small portion of the entire
dustrial army in nationwide wage
tovement of train service employees,
Nfre apparently supported but half
fartedly, If at all. by our older men.
That they would have done in case OF
Tsstrike it is unnecessary now to con-
Ecture, but 1t is apparent that they
lie greatly relieved that no decision
hs necessary for, as good citizens.
ley felt keenly tho many pronounced
hvate and public manifestations Of
sapprobation of the attitude into
.lich tho leaders of their brotherhoods
ia put them. They are. and Of right
5ght to be. we'll paid, prosperous
bhtented class of hard working. self
SBpecting. manly and efficient public
WANTS They are in no need of hui
Unitarian sympathy, and they have
Il respect and esteem of their Of
Xers'
Submarines Sunk
khristiana, Monday, october 9.-(Via
49,. no%ober MA D,rciop torpoNc