, 1874-04-21
THE WISCONSIN RAILROAD Law.
All Interview with the Hon. Alex
nntler Mitchell.
He Says thai, II Tho Law Shall 30 Enforced, Tho
Companies WIN Bo Compelled 10 Stop
Running Their Trains.

Tashtnaon tAprn 10y Correspondence Of the Ahirau-
ked Nctcs.
Noticing tint theroi is great dissatisfaction upon
tho part OF tlo railway. y.lnnuagements Of WiBcon-
sin at tho Into acts Of tho Legislature governing
thor rateB Of freight and that they wore going
to tost tho Inv, asked Mr.. Mitchell to give mo
Sail he, UT Is 1ko tha: The railroads Of tho
Btnto canuot run u,,dcr tho present lnw."
"pleaso explain"
"Woil, 1t takes just about 10 por cont Of tho
Eross earnings Of our foaa' anuer TIC iormor
md this leayos lib only 80 per cont for the pay-
mont OF tho interest on OR bonds. and to de-
onro dividends to our Stockholders. Tho now
TINT, wlloro wo had 80 por cont loft Of our gross
earnings, aftor paying running expenses, oto.,
wo hnyo now only 8, md 80 wo can only run at 4
loss. OF courBo, we hare but ono course loft
npon to us. if nl aro forcel to oboy tho new
Inv"
And what Is that ?"
"1f wo arc driven to It, re will havo to stop
entirely. This will DO inovitablo."
Bn befGre thai you will test tho oonattu-
"Yes, tho matter is now in the hands OF omi-
mont counsel, who arg carefully considering tho
subject. Nothing will bo dono without Tie most
deliberate thought. Il ne full to show the nm
eeonutitationality Of tho law, then VIC shnll bs
"Dutthat will create great domoralizationto to tho
Observation-Disclosures Of tho State. In fact, It will
snspend business almost entirely"
True, It iB a sogoro remedy; but the resronsi-
btlity will not DO with us. We will not assume
any such position unloss absolutely forced into
"What nro tho main grounds npon which you
the law ?"
ut il direct infringement upon private
rights, in the arbitrary division Of railroads into
clasaos, proportioncd according to their cnrll-
iuEs. Roads TINT do large bustnops nre taxed
moro heavily thau tloso that do q lessor curry
ing trade; this is as unjust as would bo a liko
1ax upon merchants IN proportion to the business
they do However, nm fully aware that tho
Legislature has tho right to interfere within
proper limits to prevent tho Charge Of eztortion-
ato rates."
"Wlo is to decide what is oxtortionate7 2"
~ suppose q jury Of twelve men,"
But ttero il tho gront difficulty Of private
Individuals obtaining his rights Hhcn he has to
fight largo corporation to obtain them"
natural inclination Of jurios to side ugainst
oorporations moro thnn compensate for the
disproportion Of relative strength. I may
add TINT alt woll-1nanaged roads desiro to
Jug thor business, they aro of course aided
by a favorable opinion. It ls, therefore, for
thoir interest to cultivate thie, and this ii ac-
complshed by establishing as favorable rntos us
possible, Besides, tho competition Of rival
within proper limits.n
"Nhut can the Legislature do, il you stop?"
Our stopping would likely result in bring
ing the Legislature togethor. They have
ths power to repoal our ch.rter, but they can go
without indomnifying us for it, aud, it they
should repeal our charter, they would have
either to buy US out or give us a now charter"
You do not think, however, that s,,ch ex-
v,P
- cannot assy: The matter is under careful
threat,-.it is only whothor we shall bo forced in
present law stands, and NO nre forced to obucrvo
1t, SEQ no other alternative but to STOP"
Do you intend to reduco pnssongor-fares 2"
"rhe Milwaukee,. d st. Paul Company havo
spared no expense In order to carry their passen-
gers aafely, comfortably, and with reasonable
1t less than the present rate Of cents per
mile. With inferior trnins and reduced speed,
tue fare might be somewhat lowered aud, when
the substitution OF steel rails for iron ras, now
completed, reduction in tho rate Of transporta-
tion for both passengers and freight cnn DO
made. The recent laws may, four, dolay this
much-to- -be-desired contamination by affecting
the credit of tho Company, md thereby IMPAIR
ing thoir ability to raiso tho requisite means.
All Of tho net cummings Of last year, aftor paying
interest upon tho bonded debt, were put into |
stool rails and ro1ling-Btock, and our stock
holders received no dividend whatever in money,
the holders OF preferred stock getting in secu.
rites about the equivalent OF por,e cent and the
holders Of common stock nothing at all.''
Has tho stock been what s called watered ?" !
By no means. Tho property, with the lnrge |
equipments depot-grounds, humorous elevators,
g., Stands at cost of only 73s, ,oo0 mile and
do not think it could be duplicated NTH cash III
band for much il Anythinr loss u