Background
Samuel was born on March 2, 1847 in Columbus, Georgia, United States, the only child of Lambert and Vernona (Mitchell) Spencer. He was in the fifth generation of descent from James Spencer, who settled in Talbot County, Maryland, in 1670.
(Excerpt from The Railways, Their Relations to the Governm...)
Excerpt from The Railways, Their Relations to the Government: Address of Samuel Spencer Before the Traffic Club of Pittsburg, April 7, 1905 One of the chief purposes, and what should be one of the chief results of the Elkins Law of 1903, is expedition in all court proceedings instituted by or on behalf of the Commission against the carriers, and yet the significant fact stands out that there has been no indictment, 110 prosecution of a single indi vidual or of a single corporation under the terms of that Act now in force for more than two years. If the passage of that law, with its drastic remedies, and its almost summary methods of procedure, does not expedite the trial of offenders against the Interstate Commerce Law, what can be the effect of any additional legislation for similar ends? About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
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(This is a reproduction of a book published before 1923. T...)
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(Excerpt from The Railways, Their Relations to the Governm...)
Excerpt from The Railways, Their Relations to the Government: Address of Samuel Spencer Before the Traffic Club of Pittsburg, April 7, 1905 One of the chief purposes, and what should be one of the chief results of the Elkins Law of 1903, is expedition in all court proceedings instituted by or on behalf of the Commission against the carriers, and yet the significant fact stands out that there has been no indictment, 110 prosecution of a single indi vidual or of a single corporation under the terms of that Act now in force for more than two years. If the passage of that law, with its drastic remedies, and its almost summary methods of procedure, does not expedite the trial of offenders against the Interstate Commerce Law, what can be the effect of any additional legislation for similar ends? About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
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(Excerpt from Vital Points in Railway Rate Regulations: An...)
Excerpt from Vital Points in Railway Rate Regulations: An Address Delivered by Samuel Spencer Before the Board of Trade of the City of Newark, October 11, 1905 Most of the delays which have been complained of antedated of course the passage of the Elkins Law in 1903. One of the chief purposes of that law was to expedite hear ings and decisions in contested cases against the carriers, and this would be one of its greatest benefits if the swift procedure there provided should be utilized. It provides, whenever the Commission shall be satisfied that the carriers have been guilty of illegal acts, whether in the form of rebates, or unjust discriminations, or the charging of unreasonable rates, the case may be carried forthwith to the Circuit Court, injunction obtained if necessary to protect com plainants, and the case advanced on the docket for early hearing in preference to all except criminal cases. This process is as summary as court action can be made con sistent with due process of law. If the action relates to a rate which is adjudged to be unreasonable or unjust, the finding of the Circuit Court is sufficient to put the revised rate into effect, and it continues in effect pending any appeal to the Supreme Court. This not only avoids, if the Commission so chooses, the long, tedious and frequently ineffective hearings before that body, but it limits the carrier in cases of contested rates to trial in one court before the rate decision becomes effective, and pro vides that that trial shall have precedence over all others except criminal ones. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
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Samuel was born on March 2, 1847 in Columbus, Georgia, United States, the only child of Lambert and Vernona (Mitchell) Spencer. He was in the fifth generation of descent from James Spencer, who settled in Talbot County, Maryland, in 1670.
Spencer obtained his early education in the elementary schools of Columbus and at the Georgia Military Institute in Marietta, which he left in 1863 to enlist in the Confederate army.
Resuming his education, he entered the junior class of the University of Georgia at Athens, and was graduated B. A. in 1867 with first honors. He studied engineering at the University of Virginia in the two following years, and received the C. E. degree in 1869.
He served first as a private in the "Nelson Rangers, " an independent company of cavalry, and later under Forrest, remaining in uniform until April 1865. Spencer's lifelong railway career began with the Savannah & Memphis Railroad, on which he acquired practical engineering experience in various capacities between 1869 and 1872, ending as principal engineer.
In 1872 he went north and was for a few months clerk to the superintendent of the New Jersey Southern Railroad at Long Branch, New Jersey.
He then spent four years in charge of one of the transportation divisions of the Baltimore & Ohio Railroad. For a brief period he was general superintendent of the Long Island Railroad, but in 1879 returned to the Baltimore & Ohio as assistant to the president. He rose through successive vice-presidencies to the presidency in December 1887.
His incumbency of that office was brief and stormy. His central purpose was to reduce the floating debt, which had grown to over $8, 000, 000, by rewriting book values and by other drastic measures. In this program he met with considerable success, but his opponents forced his resignation after a year, fearing that Drexel, Morgan & Company were seeking through Spencer to gain control of the road.
In March 1889, Spencer became the railroad expert for Drexel, Morgan & Company, and by December 1890, had become a partner in the firm. In this capacity he had an important part in the Morgan railroad reorganization campaign, particularly in regard to southern railroads. He was appointed in 1893 one of the receivers for the Richmond & Danville Railroad, and for the East Tennessee, Virginia & Georgia Railway.
In 1894 a Morgan reorganization created the Southern Railway out of the Richmond & Danville and other moribund southern railroads, and Spencer was made the first president. The twelve intervening years before his death saw efficient, conservative management and great expansion of this Morgan-controlled railroad.
The emphasis, however, had been placed on increase in volume of traffic, and the road's physical condition was not improved proportionately. In the two years preceding his death, Spencer was much in the public eye as an opponent of further legislation for rate-regulation. Although he agreed that secret, discriminatory rates were indefensible, and did not deny that the railroads were affected with a public interest, he characterized further government control as "commercial lynch law".
He appeared before the House Committee on Interstate and Foreign Commerce as spokesman for the railroads, and carried on a vigorous campaign, public and private, against the passage of the Hepburn Act of June 29, 1906.
He died in 1906.
Samuel Spencer was perhaps the most outstanding southerner in the American business world. Under his leadership as the first president, the mileage of the Southern Railway doubled, the number of passengers served annually increased to nearly 12 million. Spencer, North Carolina, site of the North Carolina Transportation Museum, was named in his honor.
(Excerpt from The Railways, Their Relations to the Governm...)
(Excerpt from The Railways, Their Relations to the Governm...)
(Excerpt from Vital Points in Railway Rate Regulations: An...)
( This work has been selected by scholars as being cultur...)
(This is a reproduction of a book published before 1923. T...)
On February 6, 1872 he was married to Louisa Vivian Benning, daughter of Henry Lewis Benning.