The Pulaski citizen. [volume] (Pulaski, Tenn.) 1866-current, 1881-08-18
ANOTHER NEW ROAD.
A Gilt-Edged Dream Of Monopoly.
Modern Highways.

CoNeIeu III tue CITY JAN map Ol Tue
United States and some railroad
connections which were entirely
new to him. On making inquiries
he discovered that the map had
been drawn by couple of prison
ers, and was the ground plan of q
big railroad scheme in which the
two were lntere sted.
"We PROPOSE" said one of them,
''to start a new railroad system be-
ginning at Carson and ending in
New York"
"When will you begin opera
tions?' queried the officer.
"Oh, as soon as we get out. Now
let me outline the plan. We start
out with some pins, chains and
compasses to make a survey. We
announce through the press the
proposed Carson, Arizona and Tex
an line. Then we incorporate and
let in a lot of the solid citizens, ap-
point a committee to go to the
financial centres and lay in with a
syndicate of bankers TO place our
securities. They make satisfac-
tory lay, advertise heavy in the
high-toned papers, and the treasury
begins to bulge. We get the coun-
try excited, the people subscribe
for the bonds and they 60 like
hot griddle cakes.
"Do you catch the ideap
The constable began to grow in
terested and nodded his head.
swell, then we apply for gov
ernmeLt subsidy, throw a few
thousand shares of stock around
congress, get some of the operators
to talk of the wealthy country
about to be opened up, great natu
raj resources requiring develop
ment, DC, and the things done.
Then we sell the land at five dollars
an acre, and push right through to
Texas"
"You get quite a start" said the
officer; "but who pays off the
handsp
"Oh, forgot one Of the most i'm
portant accessories; of course we
organize a construction and finance
company; as directors of the rail
road company we vote unanimously
to give ourselves, as a construction
company, fat contracts; then we
sub contract the construction out
to actual contractors at half price,
and they pay the hands or not, just
as they choose, But these are mi
nor details. Now our next point
is New Orleans. We want more
money, so we find flaws in the orig
inal bill of sale, and as we take a
hand in electing the judges they
pronounce the title invalid, holders
haven't money to contest 1t, so we
serve writs OF ejectment on the fel
lows who have improved our lands
and sell 'em again at higher prices.
This gives us another raise, and
then we freeze out the original
stockholders, sell the road, buy it
in, reoganize, water the stock like
the devil and give everybody a
chance"
"But the law steps in"
ooh, d-n the law. The law
doesn't cover railroads; railroads
are too lively; besides we're putting
up job now to have a majority OF
our own men In the United States
senate (we've got all the little
states senates now) and the su-
preme court, and then we can head
off any "communistic attacks" you
know. When we get our road to
New Orleans out of our earnings,
our lands, and the taxes we should
have paid the government, what
we made on the construction com
pany and the reorganization, Uncle
Sam swoops down, calls for his
money, and threatens to take the
road. We'll, there's nothing small
about u.s. we say, take the old
road; it's a busted concern any
how Then he won't want it so
bad, you see, and we continue busi-
ness"
"But how do you freeze out the
stockholdersY'
"Why, we hire the government
to make report and
bear the stock. That shakes the
holders out and we rake it in in
blocks. Then he makes another
one you see and the market rallies"
"Rut this costs money; you need
a good lot"
sWell, we've already made a good
lot in back freights and sockin' it
to the small shippers and the
non competitive points, to say
nothing of construction company,
our lands, and freezing out stock
holders"
The policeman had no reply.
"Then from New Orleans we go
to New York"
but have YOU made enough to
build the New York road. The
eastern people won't stand the back
freight racket"
Maybe not, but the dear public
there are always keen to put up for
railroads. The bankers arrange all
that, and if it's too thin for the Uni
ted States they have pals across the
big pond who are always ready to
help unload a road On foreign in
vestors for divide. They are al
ways ready to build the road and
let the company run it-and we're
the company, you know.
"One splendid racket to work is
when stocks are low we buy, then
form a pool with other roads, show
big earnings, stocks advance, ,ey cry
body rushes in, and we let 'em boom
it up till we think they are high
enough, when we quietly unload
pass the word to break the pool, we
sell short and the lambs are sheared
both ways.
"Railrosding is a money making
business anyway. By givin' the
big shippers special rates and
slingin' around passes lively, givin'
free excursions, subscribin' literally
statesmen's benefit funds. and occa-
slonally buildin' a church-perhaps
owning n newspaper here and there
to blackguard anti-monopolists and
lead public opinion; by pursuing
liberal policy like this, we can al
ways make ourselves solid with the
ruling classes. or course this