Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1920-10-13
PROSPERITY OF SOUTH
REFLECTED BY RAILWAY
Southern System Prospcrs Greatly
as Cornucopia Is Held Over
Its Territory.
FAITH BRINGS BIG RESULTS
Prosperity OF Country Crops Out
as Big Item in Success OF Rail-
road ut Annual Meeting OF
Directors In Richmond.

Although the Federal government,
added an increase in wages OF 81
$4,000 10 the expenses OF the South
crn Railway System during the four
months of the first six under private
operation. through the award OF the
wage board. the company made
s6ie.07S4s Ivy taking sporting
chance" and relying on the pros
: perity OF the South and refusing to
accept the government guarantee.
These facts were made public by
Fairfax Harrison. president OF the
company. at the annual meeting of
the stockholders held here yesterday
morning
Proof OF the wonderful strides
made by the South industrially also
is given in the twenty-sixth annual
repor, OF the company. The report
: says:
Measured by every economic test
business world to hc prosperous. The
iong generation of struggle for bare
existence is passed
ubtncr, IL says lndl tue coming
Of prosperity 20 the Southern terri
tory has made possible the substan-
iisl gain in the revenues Of the com
rany and the operation of the system
at a gain over the figures of last
year and also those which would have
been allowed the road IL the guar
antee OF the government had been
accepted.
big Growth OF Industries.
Growth OF new industries during
1919. and tho first six months OF 1920.
was almost mushroom-like, the re-
port shows. In this period sos new
business establishments have been
gotten into operation, covering vast
number OF manufacturing activities.
Capital to the amount of $225.Sl6.-
600 was invested in new industries,
and the extension OF old business
activities in the territory served by
he Southern Railway system during
lished cost OF plants under construc-
ton on July /. 1920, was $l53,l65,o 900.
One OF the most cheering signs of
the times. says Fairfax Harrison.
president OF the system, is the
marked increase in the variety of
manufacturing concerns in the South.
The movement is toward complete
conversion OF raw materials. into FIN
r. shed articles
Speaking of the rate increase
granted by the government, Prcsi-
dent Harrison. in his report. says
that the government increased the
expenditures OF the company 10 such
an extent that il was necessary &c
thus complete the circle"
- Hints mt Reduced Rates.
1T remains for private management;
to-resumc the practice CT competitive
efficiency which distinguished the
American railroads durn ESQ many
years SO as To justify preference
the report reads, by making posi-.
bic, not only success Of individual
companies and the prosperit vol
their employees. but a constant anG
progressive reduction Of rates, ac.
companied by an enlargement OF
service To the public. such az may
be traced through rte' old-[sshionet
railroad statisticS"- =.
while ;hc Southern proper los,
S7I2,4sI.7s by standing alone without
help from the Federal government
is revenues increased over those col
lecthd by the railway administrator
IN the corresponding period OF 1919
s5,ti3,12i.lS. Three OF the compa
MES OF the system. the Cincinnati
New Orleans, and Texas Pacific Com
pany, the Alabama Great Southern
Railway and the New Orleans an,
Northeastern Railroad Compan
showed phenomenal gains in reve
nues. The first Of these three comma
MES revenues amounted 10 $500,
260l7 more than the amount yuaran
teed by the government The A. G.. ;
Company shows also surplus owe
an dabove the guarantee OF S532
1861. while the \. o. & y l. haL
surplus over its possible conpensa
lion from the government for the ne
& rIod Of S25s,0iS.5I.
Directors Are EIected
Total corporate income FOR The yea
ending December 81. 1919. was $40
sS4,ola.s7, an increase OF s5i .3s3.
Ks over 1913. SO much OF this figure :
represents compensation from II
s government is limited TO Tn" SOCIAL,
standard return" $lS,Gj3.ss3.l5. &c
tilted by the Interstate CONNER,
Commission pursuant TO the FEEDER
control act,
~ Edwin y. Alderman. Of Charlotte
s vile, president Of the University
Virginia; Robert Jenson. ST.. OF T..
mingham. Ala; Bishop John Car!is
ki1go. OF the Methodist Episcop
Church. South Charlotte. y. c.. a,
. Charles Steele. Of New York, were r
& elected as members Of the board
y directors for the term OF three year
large majority Of the stock OF /
company was represented at I
meeting.