Lancaster daily intelligencer. [volume] (Lancaster, Pa.) 1864-1928, 1880-03-24
lancaster f1telIigerlrer.
WEDNESDAY EvE'a. MARCH "a, 1890.
Railroad Directors.

Railroad Directors.
. The stockholders of the Pennsylvania
railroad have a magnificent property
which will pay them large dividends for
all future time if it lis honestly managed
in their interest. The earning power OF
this road is enormous; it is well situated
in rich country with steadily growing
local traffic, and has affluents under its
control from every important CONNER
cial centre. 1t is we'll built and well ad-
ministered, and if their past experience
could satisfy tho stockholders that their
officers were as honest as they are skill
full, they would have reason to be con-
tent. But they cannot have this salts
faction. They know that they have been
mercilessly plucked when their revenues
afforded the opportunity. They were
left so financially weak when the hard
times caught them, that it is almost
miracle that they were not stranded.
They are coming all right now and
their servants are getting saucy again
under the prospect of fat pasture ahead.
We do not wonder that the servants DO
not want sue: / disagreeablO inqulsitive
man in the board of directors as MIR.
Edward T. Parker would be. They pre-
fer to have respectable easy going direc-
tors who will take their word for every
thing and maintain a discreet Oblivious-
ness. 1t is the general theory of railroad
managers that the stockholders have
right to expect decent dividend if the
road can earn it, and that all beyond that
is a treasure trove which those who find
it can have and they take care to find
it; in fact, they make it, which gives
them an additional claim upon it.
Men of old-fashiOned ideas, on the
other hand, think that all the earnings OF
property belong to its owners and that
they are entitled to the entire time and
services of their servants in return for
the wages paid them. Mr.. Edward L.
Parker, stockhOlder of the Pennsylvania
railroad, seems to be of this manner OF
men. He sought to serve his fellow
stockholders in the board of directors.
They did not elect him; why, is not very
clear. Certainly they ought not to object
to such director as Mr.. Parker would
make. His inquisitiveness would benefit
them; unless they are of opinion that
the less they know about their company S
affairs the better; which would be a
novel position to take.
We know nothing of the quality OF
Mr.. Parker's judgment in railroad mat
ters; but it is very certain that if he wa:
in the board the stockholders would SOo1
have abundant information on which tt
form correct conclusion of the judg
ment, capacity and honesty of their Off
GERS. This they ought to have, and i
they are wise they will next year giv'
Mr.. Parker chance to root it out fo
them. 1t will be very difficult and un
gracious task for him to undertake, ant
we wonder that he is willing to do it
But he is probably one of those men wh'
cannot rest easy under a wrong, and VIII
would spend millions rather than b
robbed of a cent. 1t is a proper spirit
but it is not the stockholders spirit. TIN
fellows who manage their property know
that they are generally too careless ant
indolent to trouble them and bottle
themselves and when the officers Occa
sionally come across Parker they ar
too much disguised to preserve
their temper and to recOllect thei
subordinate places they show tn
ciOven foot and act as though they wer
tn masters instead of the servants an
practically they have been the masters
and may continue to be, though thei
seats are not as secure in the presen
state of public opinion as they ono
were and the constitutional provision
which enables a stOckholder to cumulat
his vote is thorn in their sid
which will have a very subduing effect
The Pennsylvania railroad cOmpan
claims not to be controlled by this clause
but if it is not it soon must be, and the
will he Mr.. Parker's chance to get i
among the men of putty and pusillanin
ity on the board of directors and to let i
the light on the dark ways of the maj
agement.