Show CALLAWAYS EETIHEMENT What an Eastern Journal Says of It When Mr S R Callaway retired from the position of vicepresident and general manager of the Union Pacific Railway it was well understood in railway rail-way circles that he would not remain out of the service any longer than he desired Having declined offers of important im-portant positions in order to take a rest Mr Callaway went to Europe for the summer and although he has but recently returned it is now announced that he has been elected to and assumed the presidency of the Toledo St Louis Kansas City Railway Company This company is to be congratulated on securing so able and experienced an executive under whose charge its prospects pros-pects will be very encouraging The road now consists of a line from Toledo to St Louis 450 miles and it is not impossible that it may be extended to Kansas Citv Although built as a narrow gauge road 250 miles of the line have been changed to standard gauge and the work of widening the remainder is still going and will ere long be completed As Mr Callaway has like all other retiring re-tiring railway officials been the subject of some criticism in respect to his management man-agement of the Union Pacific it is proper in this connection to refer to the fact that under his administration the Union Pacific was greatly improved in its physical condition During the last year an enormous amount of rail was renewed numerous iron bridges were substituted for wood heavy steel replaced re-placed light at an expense of nearly 25 per ton which was charged against operating expenses and notwithstanding notwithstand-ing all these extraordinary charges the company earned a handsome dividend divi-dend on its stock The intimation of extravagance is one easily and frequently made against railway managers and on this account the inclination in-clination of many is to avoid making expenditures which will not redound at once to the increase of the revenue It takes a patient and farsighted mdnage ment to expend immense sums in improving im-proving the physical condition of a road so that while immediate returns mav not be seen the net earnings in a term of years will be greater than they would have been if less costly improvements improve-ments bad been made It is often the succeeding management that gets the benefit of the work done by its predecessor prede-cessor and it is but just to the many able and successful managers who have left roads just as the fruits of their labor was beginning to be reaped that these truths should not be lost sight of Railway Age |