Grant County herald. [volume] (Lancaster, Wis.) 1850-1968, 1873-10-09

our other railroads do and can; bat
do not be to sure of this. One day
IN your section of the country it is
the Soathern Minnesota Railroad
Company that fails-another it is the
81 p and Pacific, the Des Moines
Val, the Iowa Central, the Rock
ford, Rock Island and st Louis. the
81 Joseph and Denver. the Chicago
and Michigan Lake Shore, the MIS-
souri,, Kansas and Texas, she Canada
Southern. Whose turn will come
next? | Will tell you 1t will be the
railroad companies that continue TO
DO business at prices ruling 10 the.
| Northwest previous TO Sept Is, 1873
| How long can you large railroad
companies continue to stagger under
the burlhen Of their large floating
debts and keep out of The bands OF
their mortgage creditors en- tariff ex-
isung prior to Sept 70? | do not
believe for the year. Who carries
THESE Immense floating obligations Of
your railroads? Mostly, at any rate
very largely, your own citizens and
banks. Who suffer temporarily if
they are rot paid? OF course the
holders OF TIE obligations. Now if
the people OF Wisconsin, believe these
things relating TO the earnings and
! operating expenses Of railroads ia
that state, and they can learn the
truth Of all that is here said, by leg
i7iatlgo or other inquiry, from the
books q the respective railroad com.
panes-l do not believe they will
blame Us for making struggle for
Misrepresentation against "a popular
clamor raised by demogogues and
COMMUNISTS ia high aud low places,
aud more, by those wanting places,
aided by middlemen aud spectators
in your farmers crops.
You well know, every body knows
that your own leading citizens form
rings, or become aiders and abettors
Of the same, to depress the market
price Of wheat, to buy it al less than
It's market price at the various sta
tons upon the line of railroad.
From 1 to II cents bushel is an or
binary prohl to thom-their profit is
often more per bushel than the rail
road company gets for hauling wheat
200 miles and upwards is not
commended and approved by the
people OF your State, is at least not
cried out against in your cities-no
laws are sought to be enacted pro-
ulblung, taxing or regulating 1t
why not enact that no man or cgm- |
bination Of men shall buy wheat at
or near any station upon any line OF
r.ilroad IN the State, al price great |
er than 4 cents per bnshel under the |
Milwaukee price, at the time Of pnr-
chase, mo purchaser could suffer 10 |
loss, on the contrary no could make |
clear 4 cents q buahel, tor no could |
sell TO arrive by telegraph ia Mil
Yankee -the honest farmer then,
would not be compelled TO pay
profit sometimes OF 10 cents aud |
L cents per bushel TO the gentleman
who kindly buys his wheat at a pro.
lit to the buyer after excepting the |
whole toll charged by the railroad |
company for hauling it. 1t is the
buyer f wheat that needs regulating
by aw, il you want TO afford the far
mer The protection he deserves.
The merits or want OF merits in
Jay Gould's buying and selling your
railroad stocks have nothing to do |
viii the question Of what is a fairly |
renumerauve price tor the railroad
TO charge for carrying wheat and |
other treights We have no interest
IN any OF his prospects. Bat mas
much IS you seem TO think that Jay |
Could has something to Go with our
mtslortunes, and 10 be the cause OF |
woe to the stockholders, it may be |
we'll 10 put his experience on record, |
20 that your people, and all others,
may read, and profit by 1t.
Two short years ago Gould was
SAID 10 have Accumulated "by hook |
on Is crook" from 5000, 600 TO SIS,
900 900 Alter leaving the Erie
Railroad he looked about for places
to invest Bis money. Among other
Investments he is said 70 have bought |
about 10 600 shares OF ST Paul COM
mon at S58d60 per share. 1t is now
reported mat he has sold it at asa
Il share; If this is SO, be has lost
$40 per share besides interest, say
ia al 500 600 on st Paul com
mou. l.Is also reported that pre-
vlous to his purchase Of st Paul com
mon he bought 10000 shares of
Northwestern common at $1,000 ?
per share. This large purchase made
il corner in The stock, and enable
him to make settlements with Dam
q Drew and others who had sold L
ebors, by which hc is said to have
reduced The co-t of his stock 10 about
So. most Of which he is now said 70
nave, but ii IL said that he has :
Gently sold some of it at about co.
Ii be could sell the whole ut So.
which ii very doubtful, be would
loose, say So per share, which 90
/ 10000 shares is the sum Of 3, 900, 600
The result OF Gould's investments IN
Wisconsin iai.road stocks are not
particularly encouraging TO him
+ 10 yen tnlhK any nav NJ monty
70 invest would ike to initiate him ?
If so, the markets are open.
You speak OF punishieg US by 9
/ per cent tax upon our gross earnings
We should regret thus, and much
more regret that the Legislature or
the people of Wisconsin desire to do
this. Under the present per cent
rate Of taxation, and with tue tariff
existing previous % Sept 10, 1873
We cannot earn sufficient to pay cur
ordinary operating expenses aud The
interest upon our mortgage debt, Us
will be proven By inspection of our
hooks from January /. 1873, to Sep
TENDER / 1873. a 6 per cent tax
upon our gross earnings is therefore,
TO Us, couf,cation What you or
/ v0uP paop}o avna0t 40 rain nv a