Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1922-10-11
BRANCH AGAIN IS NAMED
TO BOARD OF SOUTHERN
Stockholders, in Annual SEES.
sion, Approve Annual Re-
port Of President.
GIVE HARRISON MORE rowEn
Adrian isciin, Charles I.nnlcr and
George n. S1ndc. of New York. hl,u
Arc Elected To Directorate of HALL
road Compnn! ut Meeting Here.

Stockholders "f the Southern
Hallway. In annual session In their
headquarters In The Times Dispatch
Building yesterday morning. 10
elected John Kerr Branch. OF Rich
mond; Adrian lsolin, Charles Lau!rr
aud George I. Sludc. of New York. to
the directorate. approved the annual
REPORT uf President Fairfax liarri-
son. ratified all acts OF tho directors
during the past year and adopted
the following resolution, giving more
power 20 tho president:
Resolved. That we. the stock
pany, In annual meeting assem- blcd.
holders OF Sothern Hallway Com
do hereby take this occasion to cx-
press or complete confidence In the
corporate management and control
OF the railway lines OF this system
and OF the ability OF this railway
to furnish TO the communities ard
tho territory trarcrscd by its lines
proper, efficient and economical
transportation system at III. loves:
possible rates consistent with the
proper maintenance and sound c,'ed!t
when operated under tn. manage
nlent OF It's president. the board OF
directors and it's officers: and that
To TINS end we believe a larger de-
gree of managerial responsibility :
and discretion should he returned To
ana vested in the president. board 81.
directors and officers Of this COM
pany, tr.c from the artificial r.s,-ic-
lions OF commission control: and.
inrthcr. that II is To the best inter-
est not only of the investing owners
Oh these properties and the security
holders. but also of the public and
Shippers in the way Of REASONABLE.
i"'eS' anu OF the operatives in re-
spect OF proper standard OF wac,
and for just settlement OF indus
'rlal disputes. that the initiative I'm
an matters of operation and manage
'hr"' Should De left u the sound
JuoSmcni and business experience. of
the operating officers OF this com
pany
The annual report OF prcsiJor,
Harrison regarding tho finances %;
'"c company. was as follows:
ihe financial results from op.ro
ton for the first half of the curr.u,
year present gratifying compari-
son win the year 1921. Durin" thu.
a rN ,m"n'hs from January TO June
~ W.. the operating incum. re.
maininI after the pavm,u, ~
pchS's' taxes. hire Of equipment and
loiht facility rents amounted To SIS
"''''-', an Increase of S6T33i1S uv,r
the vi 1897 of operating iucuuc FIR
the hrst SIN months OF the preceding
year. The gross was Approximately
inc same. being $i2l.33l. ur mn,
more than onc-half Of per con,
less IN i?22 than In 1871. The r.vcnu.
from freight traffic was So.33usl3 or
''oS per cent larger in 1927. but Their.
was falling of OF about TIN. s,m,
amount IN revenue from the opera
ZION oi passenger trains
Notwithstanding the fact that an
proNiinatcly the sam. raSs.nr..,
tram service had to b- maintained
TOT substantially smaller vnium,.
81 trafhc, operating expenses i'm the.
nrst SIN months Of 1872 wrr. r.,
""ce" s''53S.'So. or 1891 per cen,
ociow the level for the SANE. period
o! 1871. and eff this reduction NOR.
IMAM hNe millions were saved in con-
quoting transportation. less thun
"he-hali of that amount being chr
u,"'i me maintenance approximations
ne operating and tranSporlntinn
ratios in the FIRST six months of 49,.
were 'iS7 and 33.3a. rcspcc,iy.Iy
compared with S9.iS and i1.l1 i'm IA.
preceding year y surplus OF So
oVs.'3' of income remaining after
the payment of fixed charges for tho
hrst six months OF 1922 compared
with Il deficit OF si.757.5l5 for thu.
same period Of 1921, an Improvement
OF no less than S6.76l.. 20"