The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1882-12-12
RAILWAY REGULATION.

mort of the Commissioner 81 Railroads
!, interesting aud il .stuetive poeu-
usnt
T,salyoroS, Dec. 10 In the annual re.
Nj Of the commls' .ioner of railroads for
fiscal year ende d June 80, 1852 the com.
,sIopcr s-ls; As u rule accounts of
Us are Keep in a thoroughly comprehen-
,e sad .Gsiness-lise manner. Members
he ,ureau made extensive trips this
MI inspect properties OF railroads COM
n within its jurisdiction. \ decidedly
shby Improvement in tie construction,
'ar,non and business were manifest,
rails have been substituted
\. iron. as lar as practicable, more ties have
,sn placed to the mile and OF superior
Sslhy. better iastenings and good ballast
" heiug used; bridges and buildings are
'otoply being repaired and renewed, but
.reraly improved or replaced by better
sfss embaukments aud cuts are being
vid,ned: grades ana curya ureS reduced
,nd great improvements as lar as praCtic-
.Re. the best locomotives are being used
,nd improved passenger and freight cars
.rrchased or built. The Unprecedented
rnstruCti0n of railroads during the present
,sar deserves very thoughtful Considera.
I'm. The Pacific companies ere rapidly
ipveOping that section, and make through
mnDection with important distributing
ranls, which will ultimately be of great
Niue to the main lines. The money appl-
able to the repayment OF interest, per
pDt, of the earnings, and the sinking fund
n0urementS, derived from trans
poftalion receipts will be $lG,SO7 ,0i4.
lhe total cash payment to December 3lst,
| ISL required from companies i'll addition
| 1.-THE retention of entire compensation for
sryices are: Central Pacific, 81 ,2S2 ,26i;
Central Branch Union Pacific, 81 ,953;
Union Pacific, 1901 ,S31; total, 81, lSG,U5
Total indebtedness Of the several subidiged
Pacific railroads to the United stat IS
June 80, 1852, was: principal, $685..
@Oi3 In view of the low rate OF interest
returned from investments made by the Sec
ptary Of the treasury, | deem it my
duty to recommend section of the
act Of May z, 1878, be amended to authorize
the secretary OF the treasury TO invest sink
Ink funds i'll first mortgage bonds of COM
panies or such bonds rs have been issued
0them by the United States, or other good
and sufficient securities, and convert the
bOndsnow heldby the treasurer of the United
States IN said sinkiug funds into money at
market rates and reinyest the srme into
like suIeties, As many doubts are expressed
IS to the ability TO meet the Indebtedness
or maturity, and as 10 the efficiency of the
PROVISIONS for the sinking fund, | deem it
proper to suggest, whether it may be prac-
ticlble aud highly desirable, with the cor
sent OF companies, to change the form OF in
deOtedness from running book accounts
into settlement by actual delivery of inter-
estbearing bonds for amounts found to be
due, on u convenient day, say July lst,
1883, at which time one-half of the interest
will DO paid by the United States.
Lei the ascertained amount be divided into,
say 100 semi-annual installments, each to
Represented by redemption bond, one
payable each six months, together with in
lerest upon the whole unpaid remainder of
the debt, the lien to remain rs it is. The
report also says: The adjustment of rail
road rates is one of the most difficult and
delicate questions of modern times, and it is
specially complicated in the United States,
where every trunk runs through several
states, each independent within its own jul
rsdctiOn, and jealous of all interference by
the general government. The enormous ex-
tIt OF this interest aud the rapidly of its
growth, both in increase of mileage and
tonnage, demand that its relations to the
public shall be under some judicious legal
control, that rates and discrimina-
lion shall not entirely be within the
arbitrary determination of railroad COM
panies They are subject to competitions
Which they cannot control,-upOn the
ocean, upon lakes and upon the rivers. The
great lakes and rivers, so peculiarly advan-
iageously located, with their numerous tar
reaching and widely extended navigable
tributaries, carry water competition into
almost every portion Of the country, with
the elect of so reducing general rates that
Tue lniicd States enjoys the cheapest rail
ioaG transportation in the world.
AS yet, no Just basis of general
application Tor adjustment and dis.
slmlu0tions has been found, and
Il is undenable that their hardships are
neither few nor small, arising from existing
denominations often arbitrarily imposed
which affect disastrousy local trade at nom
competing points. There is growing and
humorous demand among the people that
"a road management shall be subject to
Tue restraints Of law, nor is railway man
asemeut adverse to reasonable control 1t
las become necessity that wars OF rates
shall be controlled in the interests of the
people and roads such wars
ln'ettle within their operation
numerical values, ailording sudden and
unusual profits to a few and entailing heavy
o'sts upon others, Railway commissions
rave been appointed in tEoniy'onc states.
lac report continues: Tho exercise OF
ieil,hiul influences over railroad manage
nent but with railroad transportation
tucily confined within state jurisdiction,
50 limited that 1t leaves the real difficult
les unsolved and the power OF congress
,'er The whole subject can hardly be. qnes-
Toned. The supreme court Of Illinois cor
edcd 1t aud decisions OF the supreme court
y The United States seem to rem
Ter u indisputnblc. The commission
commended is to take into consideration
ne Whole of the question report to con-
TESS facts necessary for intelligent and ei'
.Cient action upon the subject. The COM
missioner speaks OF unnecessary and dan.
etouS dissimilarity OF railway signals, and
gcommonds the adoption OF a uniform syt-
va. Amer n review IN de-
NJ OF the operations OF the
aClhc roads mentioned, lac closes report
IN an estimate of expenses of the railroad
ulce Tor tho next fiscal year OF $4,000.
II
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