Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1882-12-04
PoFfel'.s Position.
Especial Telegram to the Globe. I

CHICAGO, Dec. 3.-Being asked to favor
the GLOBE with an exact definition Of his
position on the question OF territory, Mr..
Porter dictated the following statement:
Since 1856, the railroad companies have
been a source of great suffering to invest
ors IN railroad property, owing to specu-
lation and over building. Of late years
the construction of railroads has been rap
i'd and ill-considered, and, with increased
momentum since 1880, the railroad fever
has increased and innumerable railroad
schemes have been put through, some
good, others wild and foolish. Some lines
have been built by roads, it being well
known at the present time that they would
not pay for years, for fear that some
other road would occupy the
territory and deprive the first road of pros
pectlve profits. This has been the condi-
ton of things for years, and if it continues
much longer there will follow panic,
much more sweeping and terrible in its
effects than the crash of 1873. The only
remedy that can see is for the railroads
to stop where they are, look at the facts
which already stare them in the face, then,
like wise managers, agree as to what terri
tory each will protect, and what territory
has legitimate business connection with
its line. Each railroad should agree to
occupy and protect the territory consigned
to 1t, and should build such extensions from
time to time into it as the business
requires and will support. In order to
bring this about and stop what has been
going on, it was necessary for some one to
take position on the question. I have
tried to do this, and believe that when
the question of an individuals power with
other peoples money has been carefully
determined and the responsibility for trusts
more fully appreciated, this division of
territory on which insist will be brought
abont, and the community, the investor
and business generally will be bettered
thereby. Perhaps no better example of
this condition of things could be cited
that the late action of the Northern
Pacific and Manitoba roads in dividing
the territory north of St. Paul. For two
or three years each of these roads had
built into the others territory, and every
move of the one called for counter-con-
struction on the part of the other road.
Finally the principal managers and own
ers of the property got together and set
tied the territorial question satisfactorily
to both companies. If this question is
settled in this way, the transaction of bust
ness can be made steady and regular, and
business men can know what to count on.
and the price of transportation will be
cheapsned, as one road can do all the bust
ness now done by two or thr Q
roads, and the capital invested to
do it will be much less.
The operating expenses would be greatly
decreased,and fairer interchange of bust
ness would take place between the rail-
roads at their connecting points. Just
what the details are which would bring
about this condition don't know, but rail
road mon should get together and devise
plan for the division of territory and put
it into effect. Defects would probably ap-
pear, bat these could be corrected later.
Nothing is more disastrous to tho in
terests of the Northwest than to have east
ern capital sent here to build railroads and
advance other industries prove unremu-
nerative to an unreasonable extent. Some
people affect to care nothing for
the losses of the Eastern
capitalists, alleging that we have got the
Improvements. But we haven't got them.
We have only got the foundations, and if
their investments prove success, indus
tries will keep growing and railroads will
be responsible institutions and not bank
rupt and poverty stricken, a drain upon
the peoples purses and loss to invested
capital"
Mr.. Porter further stated that he did not
believe that the meeting in New York
would be productive of any result. The
position he had taken was comparatively
new in the West, and a struggle would
probably take place before its wisdom
would allow. 1t might be a year or more
before the question was settled. In
the meantime he would agree to no restora
ton of rates. He was fighting for prin-
ciple, and was bound to win, however long
it might take.
No change occurred on the field of bat
tie, and it is considered that the present
cut rates will re main in effect until after
the meeting in New York.
Alexander Mitchell on the Var.
MILWAUKEE, Dec.3.-Alexander Mitchell |
of the Chicago, Milwaukee & st. Paul road.
stated in an interview regarding the rail-
road was tonight: ''Porter's demands are
unjust. My company claims the right to
extend business into any part of the coun-