1890.] fr<3 [Vaux. 



interests which were involved in the management of this corporation are 

 not easily to he described. It may be said, however, that the holders of 

 the various securities of the company, and those who were engaged in 

 providing the chief traffic of the road, were not usually unanimous in their 

 agreements as to the conduct of its affairs. 



From 1869 to 1884, he was President of the company. He then resigned, 

 and in 1886 he was again elected President and served till 1888, when he 

 again resigned. 



It was well said of Mr. Gowen's Presidency, that it was ' ' fifteen years of 

 struggle and achievement." 



Reference to Mr. Gowen's administration of the business and policy of 

 the Reading Railroad is here out of place. 



The interests involved were enormous and the contentions of the parties 

 representing them were inspired by efforts to control the management 

 vested in the executive authority of the company. 



The President and the Board of Directors were subjected to the conse- 

 quences of divergent views and opposing opinions of their constituents. 



Mr. Gowen's responsibility was not divisible. 



During his Presidency he met antagonisms, hostilities and obstacles 

 that would most likely have overwhelmed a less courageous, able, self- 

 poised and confident administrator. Criticism followed the course he 

 pursued — severe criticism often — but patiently listening, ready to defend 

 himself, he followed out his plans. His views were broad, far reaching 

 and based on what, to his extraordinary comprehension of the vast possi- 

 bilities of the Reading Railroad, were vital to the permanent triumph of 

 the producing and transporting capacities of this coal-carrying com- 

 pany. 



Securing coal fields by purchase, thus owning the sources of supply of 

 freight for the support of the traffic and the augmentation of the earnings, 

 and with the topographical advantages of his line of road, Mr. Go wen 

 conceived that he could place the Reading Railroad beyond the reach of 

 competing rivals. 



This much is said in some sort to indicate the character and capacity of 

 Mr. Gowen. And let it be proclaimed that during his management of the 

 company, amid all the contentions it occasioned, in the direction of the 

 policy he regarded as essential for the success, not a word was ever 

 uttered that expressed a doubt as to his spotless integrity. 



The Engineering and Mining Journal, of New York, a professional 

 periodical of high standing, in an editorial reference to Mr. Gowen, 

 thus epitomizes his character : 



" Mr. Franklin B. Gowen was undoubtedly one of the most admirable 

 men this country has produced. To brilliant ability, eloquence, undaunted 

 courage and an incorruptible honesty which placed him, even with his 

 bitterest antagonist, above the faintest suspicion of doing a dishonorable 

 thing, Mr. Gowen united a winning personality that firmly attached to 

 him all who had the honor and pleasure of his acquaintance. 



