1. The physical care of the property. 2. The handling of the trains. 3. The making rates and soliciting business. 4. The collection of revenue and keeping statistics. 5. The custody and disbursement of revenue. The president is, of course, the executive head of the company, but in important matters he acts only with the consent and approval of the Board of Directors, or of an executive committee clothed with authority of the board, which may be called the legislative branch of the management. More or less of the executive power and supervision of the president may be delegated to one or more vice-presidents. Often all of it but that relating to financial matters is so delegated, but, as their functions are subdivisions of those of the president, they have no essential part in a general scheme of authority. Of the five subdivisions of duties indicated above, the first four are usually confided to a general manager, who may also be a vice-president, and the fifth is in charge of a treasurer, reporting directly to the president. The special departments under charge of the general manager are each officered by trained experts: A superintendent of roadway or chief engineer has charge of the maintenance of the track, bridges, and buildings. A superintendent of machinery has charge of the construction and maintenance of all rolling stock. A superintendent of transportation makes all schedules, and has charge of all movements of trains. A car accountant keeps record of the location, whereabout, and movements of all cars. A traffic manager has charge of passenger and freight rates, and all advertising and soliciting for business. A comptroller has charge of all the book-keeping by which the revenue of the company is collected and accounted for. All statistics are generally prepared in his office. A paymaster receives money from the treasurer and disburses, under the direction of the comptroller, for all expenses of operation. All dividend and interest payments are made by the treasurer, under direction of the president and board. There are, besides the above, two general departments with which all the rest have to do, to a greater or less extent--the legal department and the purchasing department. The quantity and variety of articles used and consumed in the operation of a railroad are so great that it is a measure of much economy to concentrate all purchases into the hands of a single purchasing agent, rather than to allow each department to purchase for itself. This agent has nothing to do but to study prices and markets. His pride is enlisted in getting the lowest figures for his road, and the large amount of his purchases enables him to secure the best rates. And last, but not least, in matters where dishonesty would find so great opportunities, it is safer to concentrate responsibility than to diffuse it.