The Superior times. [volume] (Superior, Wis.) 1870-1912, 1874-10-17

THE NORTHERN WISCONSIN FAIR, SEPT. 3DTH.
From Oshkosh Times.
The next speaker introduced was
Gov. VIM. r. Taylor. The fine
manly appearance of the Governor
surprised many, and they were more
surprised at the speech he delivered
He said he came merely to fill a con
tingency. He sometimes wrote ag-
ricultural addresses and read them,
and he sometimes wrote newspaper
articles and made reports, but never
made eXtemporaneous speeches.
He had been requested to speak on
the railroad question because he had
been engaged in the railroad busi-
ness somewhat lately, he supposed.
Last winter after some twenty-five
different bills were introduced re-
lating to railroads the Legislature
succeeded i'll passing law eXercis-
ING control over them in this state.
The companies Haunted the red flag
of defiance in bis face, and said he
could not enforce it, lie had sworn
to execute the laws Of the state,
and like a good executive he was
obliged to enforce that law with the
rest The case had gone to the
courts, and the result was well
known to the people. The railway
managers and their organs claimed
that they would lose % per cent. of
their gross earnings by operating
under the Potter law, and that
would be obstruction of their prop
erty. On the other hand, the rail
road commissioners and other eX-
perts, after giving liberal figures,
claim that they would lose less than
six per cent; while others claim
that by cutting off rebates and dis
ordinations to fayorite shippers the
companies would actually make
money operating under the law.
The St. Paul company made enough
last year to pay all operating expen-
seS, taxes, interest on their bonds
aud repairs, aud then had enough
left 70 pay y per cent. dividend on
their stock, and that, too, on an
assumed cost of $37,5o0 per mile,
when in fact the original cost of
the road was but little more than
one-half that. The stock Of this
company is worth about 80 cents
on the dollar; now y per cent. on
that would in reality be about 10
per cent. on dollar
The Railroad Gazette says that
for the first seven months of this
year, the St. Paul company earned
$773, 900 more than last year, and
4he Northwestern earned S528,000
in the same time, more than last
year. Ii these statements be true,
the people ought to know it, and
be undeceived, so that they can
act inteiligeutly upon these impor-
tant and complex questions. Ii
these things be true, IS it not wrong,
and cruel too, for these companies
TO discharge so many employees,
under pretended oppression Of the
Potter Law? How did they make
SO much the first seven months Of
the year? BY moving u large
share of the immense wheat crops
of Iowa and Minnesota. Last year
Iowa had $4,000, 600 bushels of
surplus wheat. Minnesota had 30
600, 900, and Wisconsin had p, ,o00,
600. by cutting OF many per
quisites to the public, and cutting
off rebates and determinations, the
companies were enabled to make
these profits. As the Potter Law
does nor affect freight passing
through the state, the Iowa and
Minnesota wheat crops were affect
ed by it but slightly.
And yet the attorneys, agents and
newspaper organs of the companies,
whose name is legion all up and
down the country, are perSiSting in
the destruction of their property and
general ruin of the companies. If
this loss Of twenty five per cent,
that the companies claim, We're true,
ii would not be more than the par
alySis otmany other industrial inter
ests; for instance, depression of the
iron interest, numbering aud impor-
tations. Importations have fallen
off more than 800, 100000 from
last year. These effects following
the panic are produced by a forced
economy OF the people, and dis