The Washington herald., 1917-08-31
HOLLAND LETTER
The Biggest Daily
Financial News Feature Of
the Counhy's Best Newspapers.

Howard Elliott. chairman of the
board of the Northern Pacific Rail
way Company, and also in the serv-
Ice of the government as a mem
Der Of the Railroad Council, is TAX
Aing a brief vacation at his country
place at Dublin, N. H., near Mount
Monadnock. Mr.. Elliott has been
greatly occupied with the govern
ment service since he retired from
the presidency OF the New Haven
Railroad and after he returned from
prolonged and much needed rest,
which began late in the winter and
ended in midspring. His resigna-
ton OF the presidency of the New
haven Railroad Company has been
attributed to various causes, but
there vas in fact, only one. Realiz-
ing as he did the inherent and un-
DERIVING value which Is in the New
Haven Railroad property he hoped,
when he accepted the presidency
after Tesigning the presidency of the
Northern Pacific Railroad, to de-
Velop that value, make it visible and
OF material importance. But his ex-
perience was baffling. There were
many snags, some occasioned by poll
tlcaL some by legislative and gov
erhnental interference and some by
the general Generalization of bust
ness which was in progress when he
decepteu the presidency of the cor
poration.
The strain was too great, There
came monitions that IL he were To
preserve his health he must, in some
way, relieve that strain. A railroad
president can delegate to subordi-
mates various details. no matter how
important in the confidence that they
will be well cared for, can do much
hard thinking without at the same
time causing mental and physical
strain. But Mr.. Elliott had a
thousand and one perplexing details,
some OF them financial, some of them
operating, some of them legislative.
70 whlch he was compelled to give
MS personal attention. At last IL
became question whether he was
Justlned In bearing this burden. The
directors OF the railroad company had
good understanding of the burden
and were in complete sympathy with
him. Reluctantly they accepted his
resignation. He went in the late
winter to Jekyl Island to recuperate
and his sojourn there Of three months,
during which he was occupied with
no business matters, restoring his
health so that he was able and glad
upon his return to assist the gov
ernment in bringing about such co.
ordination and cooperation Of the
railway systems OF the United States
as would cause these roads to be
operated practically as single
unit.
The late Mr.. Coster. partner of ].
P. Morgan &c Company, undertook
task which so highly skilful and ex-
pert man as Frederick P. olcott
acknowledged himself unable to worlr
OUT 1t was at the time of the con-
teniplated reorganization of the Rjcb-
mond Terminal Company; the work
lhNolVed months of intense concen-
tratlon OF mind. 1t was successfully
done ~ Mr.. Coster. and it was an
achievement that has become tradi-
tional' but he undoubtedly paid for il
by such impairment of health as at
last TO become mortal The late
James Z. Carter, who In the last
years Of his life was esteemed the
leader OF the American bar spent
many weeks. sparing himself neither
night or day, in preparation of
very important litigation. He felt
nat iiS PlOAeSsloldl reputation was
at stake. The overwork reached its
climax when the case was brought
into court. for Mr.. Carter coll
lapsed just as he was to begin his
argument and was three years in
recovering his health. 1t is observed
that in Washington those who are
undertaking the great things that are
now necessary for the government
are perfecting highly competent or
ganizations so that the mental and
physical strain may not be beyond
their capacity. HOLLAND.