(Excerpt from Address of S. Davies Warfield, President, Na...)
Excerpt from Address of S. Davies Warfield, President, National Association of Owners of Railroad Securities, President, the Continental Trust Company, Baltimore: On the Occasion of the Dinner Given in His Honor on Monday Evening, December 13, 1920 at the Waldorf-Astoria Hotel, New York I should have preferred to avoid the embarrassment I feel this evening in being wholly unable to adequately express my appreciation Of the compliment you pay me. But I am only part of a great movement. We are con fronted with questions of serious concern to the country and to the members Of the Association. It was therefore clearly my duty to yield personal inclinations or prefer emees to the Opportunity this occasion would present for discussing with you who have a vital interest in this situa tion, the necessities of the immediate future rather than past performances. There is much yet to be done growing out of the constructive railroad legislation enacted by the last Congress. The same co-operative spirit you have shown during the three and a half years of the Associa tion's life will, I am sure, be welcomed by the governmentalauthorities who will undertake the solution of the questions at issue. To enlist your co-operation, it becomes necessary to burden you with some past details that you may the better follow suggestions dealing with immediate requirements. 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 Address of S. Davies Warfield, President, Na...)
Excerpt from Address of S. Davies Warfield, President, National Association of Owners of Railroad Securities, President, the Continental Trust Company, Baltimore: On the Occasion of the Dinner Given in His Honor on Monday Evening, December 13, 1920 at the Waldorf-Astoria Hotel, New York I should have preferred to avoid the embarrassment I feel this evening in being wholly unable to adequately express my appreciation Of the compliment you pay me. But I am only part of a great movement. We are con fronted with questions of serious concern to the country and to the members Of the Association. It was therefore clearly my duty to yield personal inclinations or prefer emees to the Opportunity this occasion would present for discussing with you who have a vital interest in this situa tion, the necessities of the immediate future rather than past performances. There is much yet to be done growing out of the constructive railroad legislation enacted by the last Congress. The same co-operative spirit you have shown during the three and a half years of the Associa tion's life will, I am sure, be welcomed by the governmentalauthorities who will undertake the solution of the questions at issue. To enlist your co-operation, it becomes necessary to burden you with some past details that you may the better follow suggestions dealing with immediate requirements. 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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(Address of S. Davies Warfield on the occasion of the dinn...)
Address of S. Davies Warfield on the occasion of the dinner given in his honor on Monday evening, December 13, 1920, at the Waldorf-Astoria hotel, New York. With introductory remarks of Hon. Myron T. Herrick and letter from former Senator Elihu Root. This book, "Address of S. Davies Warfield on the occasion of the dinner given in his honor on Monday evening, December 13, 1920, at the Waldorf-Astoria hotel, New York", by Solomon Davies Warfield, is a replication of a book originally published before 1920. It has been restored by human beings, page by page, so that you may enjoy it in a form as close to the original as possible.
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Solomon Davies Warfield was born in Baltimore, Maryland, the son of Henry Mactier and Anna (Emory) Warfield, and a descendant of Richard Warfield, who came from Berkshire, England, to Maryland in 1662. His father was prominent in the business and political life of Baltimore.
He received a common-school education.
Solomon obtained a clerkship with George P. Frick & Company and later with D. J. Foley Brothers & Company, both of Baltimore. Forced by ill health to go to his grandmother's country home, he indulged his taste for invention and patented a number of devices, including corn cutters and corn silkers, and soon established in Baltimore the Warfield Manufacturing Company to make them. Becoming active in politics, he organized a club to support Cleveland in 1888 and afterwards founded and became the president of the Jefferson Democratic Association, the largest independent Democratic organization in Maryland. In 1891 he was nominated by the Independent Democrats for mayor of Baltimore and was endorsed by the Republicans, but he was defeated by Ferdinand Latrobe in a close contest. In 1894 Cleveland appointed him postmaster of Baltimore. He gave the office a progressive business administration, extending the service and for the first time using street cars to transport mail. In spite of being a Democrat, he was reappointed by McKinley and served until 1905. While still postmaster he organized and became president of the Continental Trust Company (1898), which was to be the agency of his later extensive financial operations. His chief interests were in railroads, public utilities, and cotton manufacturing. Railway consolidation in the South was then in progress, and in 1898 Warfield, with John Skelton Williams of Richmond, was a member of the organization committee of the Seaboard Air Line Railway. He became a voting trustee, a director, and a member of the executive committee of the company, but withdrew in 1903. The road having fallen into financial difficulties in the panic of 1907, Warfield was made chairman of the receivers, January 1908, and in two years returned the road to its owners without having assessed the stock or scaled down the bonds, its market value having increased meanwhile over twenty-five million dollars. Warfield became chairman of the executive committee of the reorganized road and at the time of his death was president of the Seaboard, his management and extension of which were of great importance in the development of Florida. Through participation in the sale of the interest of Baltimore City in the Western Maryland Railway Company to the Gould syndicate, he was made a director of the Missouri Pacific. Fearing that the "duck trust" would move the old-established Maryland cotton duck mills to the South, he formed a local syndicate and became chairman of the board of the International Cotton Mills Corporation (1910), controlling many mills in Maryland and elsewhere. This venture, however, never proved successful; its promotional costs were excessive, and the general drift of the heavy goods industry was toward the cotton fields and the South's cheaper labor supply. Beginning in 1903, he formed a syndicate with a capital of eleven million dollars to purchase the United Electric Light & Power Company of Baltimore. His plans were interrupted by the great Baltimore fire of 1904, which destroyed the large building of the Continental Trust Company. He went to work immediately and secured millions of dollars for the rebuilding of the city. The control of the Consolidated Gas Company having passed to New York interests, he formed a syndicate which brought that control back to Baltimore. Later he joined this company and the only remaining independent electric company of the city with the United Electric Light & Power to form the Consolidated Gas, Electric Light & Power Company. He had long wanted to develop the power resources of the Susquehanna River; unable to do so, after the panic of 1907 he brought the McCall's Ferry current to Baltimore by sale of stock in the Consolidated to the Pennsylvania Water & Power Company. By intensive work he negotiated a contract in 1909 with the Standard Oil Company to bring natural gas to Baltimore from West Virginia. A large proportion of the patrons of the Consolidated thought the terms disadvantageous to them, and the board of estimates of the city would not approve the contract. A bill presented to the legislature to permit a popular referendum on whether the board should negotiate for natural gas was also defeated. The Maryland Public Service Commission was set up in 1910 as a consequence of this fight. In 1910 Warfield retired from the chairmanship of the Consolidated Gas, Electric Light & Power Company to enter more actively into the development of the Seaboard Air Line, unaware of the tremendous strides which electricity was soon to make. He was director in a number of steamship, railroad, coal, and insurance companies. When the railroads were turned back to their stockholders by the government after the World War, he organized and was president of the National Association of Owners of Railroad Securities, and worked out the plan, incorporated into the Transportation Act of 1920, for equating earnings between strong and weak roads.
(Excerpt from Address of S. Davies Warfield, President, Na...)
(Excerpt from Address of S. Davies Warfield, President, Na...)
(Address of S. Davies Warfield on the occasion of the dinn...)
He was a man of great nervous energy and drove both himself and his associates. Dominating and self-centered, secretive and often indirect in method, he was not lacking in social charm.
He was unmarried.
