New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1871-02-21
FRAUDS IN RAILROAD hANAGEAENI'
AND THEIR REMEDIES

RUFUS HATCH'S CIRCULAR, NO. 4-MiLm AZ NM
AND ST. PAUL RAILROAD COMFANh'
The managers of railroads have great many
different ways Of robbing the people Comlno"o,o
derbilt does not build railroads.&c. Guys then'
no his ateripes their share capital and doubfs IN Tue
same way his profits provided always ne can nahe .o
people pay dividends his watered STOCK. 1liS n V
measure and scope OF his ToSdGflu there was
Jiferent role Contractors and SPECTATORS outsiders
made the to se h @e and give them back
the oyster. The public pntortuStSy' mas 20 pay Ior wy
eIar0cs upon rhdtccer they rat drink, or tceor FOR
every bunder. for every act OF m g. OF u
the people pay the penalty II may he OIL the Same 70
the parties building or owning road Wnether COST
$4,000 or 100000 per mile 10 me luDc tle on ,
is that between the amount Of dividends paid ON teese
sums 90, . ,,,,-, =, @. t,,, ..,o,.o-.
has been different from either OF those haIne1. Inc
money made here by an inside ring, VINO bud ana
uy railroads and sell them az their own price 10 the one
they control TINS rs ssie Anu .ssy way, uue V
poorly with the brilliant ehrohtery OF COmniod0Te Van
derbt who despises and dehes public opinion Every
Goy feels II to he a mean aud sneakng thing for h,
contractor 10 sell his wares 10 as railroad director
detection or Acknowledgement from Office which is
the penalty feared because IL removes from oppor
tunIties TO plunder-is almost imIoSsible.
The Milwaukee aud Sc. Paul Road is q patchwork,
made Of all kinds Of material and taken In at prices
lions oossit rs impOSsbls 70 tell as they se Al sa5d
together IN one mass 1t IS equally Impossible 70 t9
One OF these the McGregOr and YanctOn line which had
ling controlled by Milwaukee and ST. Paul directors
and fast built turned over, without equipment 90
fhiS COMPANY minus the lands, and at fpioC Its cost
Already o6 have been built. Tire land that viii In
this wy be secured to the ring will he worth, proba
by S1OOOOGOO The road Is being built through coun-
FRY almost destitute Of population and cannot for long
fine nav much. III any more than running expenses
Another land grant ike, which now comPoees P0r-
ncsof Central The land grant calls for e4a4OS acres.
Tins link wac lat into the consolidated company as the
plice demanded by the ring" who built IT, and after
hey had severed from II the lands, " be COMMUNICATION
Their benefit and use.
Another laud-gnant road which the Milwaukee ana 81
Paul ring have got hold OF Is the Hastings and Dakoa
which Is entitled to grant Of $50 900 acres OF tins me-
miles are built II Is fair 10 presume that TINS ROAD Is
he built and nut upon the Milwaukee and ST. Pau IN
the have been the other land grant lines
already named.
Another or the same "rng are building direct line
of road upon the banks OF the Mississippi, from st.
Paul La Crosse, he sold to the Milwaukee and ST.
PAU Company when the rails laid. This is rival
line 10 already in operation, and belonging 10 the
same Company The two parallel 10 each other ana
will compete mainly for the same traffic third road,
the West Wisconsin, being built by another railroad
company, Will also be parallel 10 the two named when
completed which il speedily will be, there will he three
roads competing for business only sufficient TO support
Another magnificent operation, and in which vast
genius for rairUadng shown, the leasing OF the
Western Union Railroad To the Milwaukee and ST. Paul.
The former a thoroughly brOkcndOwn concern,
having paid dollar either interest or di yidends
1905 its capital put down at S3,26 693; ITS
funded debt at 1900 600 and its floating debt at 1896 i46
The gross and earnings for four years after its open
ing stated as follows: