The Emporia news. [volume] (Emporia, Kan.) 1859-1881, 1871-03-10

of those who manipulate the affairs of
this company, straightway q classical
ton of directors will be made and cap
ital stock incre ased, if necessary for
that purpose, so that the obnoxious di-
rectors shall go out, and more pliable
ones come in-One is classified out and
the other classified in. If other directors
become FESTIVE that classification is re-
sc1nded and new one made, and so on
indefinitely. The provision amounts to
perpetual lease of power to those
heavy stockholders who control large
quantities of stock. This provision al
lowing the company to classify their
stock by the issue of sfpreferred shares"
simply amounts to license to the big
fish to swallow the little fish at their
pleasure. If enacted, it will enable the
persons who manipulate the affairs of
the company to sfreeZe out" and "gobble
up" the counties of Lyon and Morris,
and the other smaller stockholders, so
far as their stock is concerned. For
a full and complete history of the work
ing of such scheme I would refer to
the history of the Erie railroad contro-
versy, as managed by jim Fisk and jay
Gould.
believe the only reason why this
bill has any support is that it may re-
sultin some local benefit. I submit that
localities had better do without railroads
for a while than to inaugurate, in the
management of railroads in this State.
the provisions of this act. / have no
sympathy whatever with the 'Ehowl"
that is often raised against railroads as
''soulless corporations" but / do not
propose to support any measure which
will, in effect, if it has any effect at all,
pass the people over to the railroads,
body, soul and all. 1t is argued by some
that the stock owned by counties in
these railroads is of no value. The Leg
islature of the people is the last body
in the world that ought to encourage
that sentiment. The people look to the
Legislature for protection. They ask |
that we shall not discriminate unfairly |
and to the injury of their interests in |
favor of railroads. tits urged, also, that |
this company has done much in q short |
time for the development of the State. |
This is true, and for this the company
should have and do have all praise. /
They shall always have my vote for
anything they want that is reasonable
and just. They ought to be encouraged
in every reasonable way, by the people,
but they ought not to ask the passage
of such an unfair, unreasonable and
measure as this. They are a
growing power. Their interests are
with as much shrewdness as
any other interest in this State, and 1
do not propose to give them the advan-
tage over the people which this bill seeks
to give them. I do not propose, by my
vote, to re-enact the history of the Erie
railroad in Kansas. Nor is it to the in
terest of railroads themselves, to enact
such laws as this. AS a friend of rail-
roads, vote against it. If the railroad
interests commence the fight to get pos
session of this State, as they did of Illi-
nois, they will soon find the people of
the State clamoring for a new constitu-
ton, in which document, when adopted
by the people, their "death warrant"
will be inserted, as it was in the new
of Illinois. 1 warn them
not to bring on such a fight in Kan
sas, as they will inevitably be the
chief mourners" after the conflict is
over.
These considerations, crude and i'm
perfect though they be, are some of the
reasons why 1 oppose this bill. / COLI
slider it the greatess railroad swindle,"
so to speak, that was ever sought to be
enacted in Kansas, and therefore shall
vote against it.