Mineral Point tribune. (Mineral Point, Wis.) 1869-1938, 1876-02-23
soy- aL.-aoAD STATISTICS.


Xera1d are correct-and there seems
little room for doubt on that head
we see no propriety in the claim that
the Potter law has proved 50 ruin
Gus, as is claimed to railroad inter-
ests. The measure practically re-
pealing the Potter law will no doubt
pass the Legislature, and we hope
no serious consequences to the peo-
pie will result, but fear there is dan
ger of it.
The following editorial appears in
the columns Of the Chicago Tribune
Of Feb. 18th:
The fate of the Potter railroad
law in Wisconsin is sealed by order
ing the Vance bill to third reading
in the House by vote of 81 TO 81
in a House composed equally of Dem
ocrats and Republicans, which in
sures the repeating bill passage
through the Senate. This will dis
pose of the most arbitrary railroad
legislation ever enacted in this coun-
try. 1t gave the State Commission
ers absolute control of the railroads,
after making unfair classifications
and unjust determinations in rates,
both freight and passenger, and then
in case Of non compliance with the
requirements Of the law gave them
the right of coniiscation, and this
popular tyranny has been Endorsed
by Supreme Court decisions. The
people who demanded the passage
Of this law, and were even fanatical
ia that demand, have now for two or
three years had All opportunity to
witness the effects Of its operation
They have found that it has been OF
no benefit to the State, but has re-
tarded It's progress. They have
found that it has not enriched either
the farmers or the merchants-in
fact that no one had proiited by it..
They have found that freights have
not been cheapened as they expect
ed that stockholders have been
discouraged and railroads have been
placed in u position were they could
not pay dividends, or, substantially,
have been bankrupted I; that the law
has depressed the value of produce
and stopped railroad building; that
no new roads have been constructed,
no steel rails have been substituted
for iron, no improvements have been
made that thousands of men form
erly engaged in railroad extensions
have been thrown ont of work; and
that foreign capital has been stopped
from coming into the State. The
politicians have been ready to repeal
the law for some time, but were
afraid Of the Grangers, but ct last
the popular pressure has become 50
strong that this unjust law is now on
It's road to repeal. 1t has had fair
trial, and its results are painfully
apparent. Its repeal will lift a load
Off the people of Wisconsin, and
give railroad developments and ex-
tention, and the general production
of the State fresh and healthy inn
pulse.
1t may be interesting, and perhaps
instructive, to the editor of the 1rj-
bune and others to know how spain
fully apparent" have been the re-
suits of the Potter law on some of
the railroad corporations in the
State. For the purpose of ascer-
tanning how much the oldest and
largest railroad corporation in this
State-the Milwaukee 4 st. Paul
has suffered by that law, and wheth-
or that company has been placed by
it (the Potter lawl in position
"where il could not pay dividends,
orsubstantially has been bankrupted
| have examined the oiGcia! reports
of that company for the past foul
wears, which are rs follows:
/ Net earnings, 1872, on l2S3 miles S2,2t2, Is,
/ Net earnings 1875 on 1899 mites. -. 2,i5l ,5ti
| Net earnings, lSsl ON lSJa miles,, S,uNlqll
/ Net earnings, 1875, on 1899 miles. S,'N5 ~
This company report S53,273,491
As the cost of their road, from which
| it will be seen that the net earnings
for the two last Potter law year: