The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1882-03-17

sengers for, and we have to submit I,
their dictstion. Why this talk about ,
railroad commission? In New Yorl
people do not realize what a railroad
commission might mean to US. The,
don't realize that to put VI under a com
m ssion would be simply to place US at {
disadvantage with our competitors. All
the rival railroads ere doing all they car
TO help forward the movement Il
establish 8 railroad commission. Their
officers see plainly just how it would hur
rs and help them. No, no, if this state
must have railroad com omission, let the
other states through which our compe.
titors run. have like commissions. Dc
not put New York institution like the
Central, at the very mercy ofthe riysl
roads. The practical operation of such 8
law would be very plain. Suppose the
law should compel the Central to take
Its local business on the basis of /
through rates, the Erie and the Panama
would quickly make snch rates as would
just about ruin the New York Central,
hampered with such law. Those roads.
so far as they did business, falling
within the provision of the law, would
overcome their difficulties by their
freedom in other states. The Central
being entirely within the state would
have no cosnce to show effective
opposition. The fact is these anti
monopolists are nothing bnt demsgogues
They will not be heard of in a few wears.
But just now they are trying to make
a great fuss. They don't know wat
they want, except that they banker after
political power Of some kind or other.
Demagogues-that is what thew are.
and that is all there is about it. The
Central has only one object, and that is
the building up of business all along its
line. The prosperity of its customers is
its success. It Is a mere business, this
running of railroads. We manage to
get return for our money just as men
sell groceries or dry goods. They do
not do business merely for the fun of
the thing, do they2 No, they strive to
make q profit, for out Of the income
they support their families and edu ate
their children. Very well, that is all
that we want to get who run railroads.
When 1 cannot get fair return for nv
Investment, you can just count me
out. and that's all there is to it.
These anti-monopolitts want to cut
down our profits, I suppose, but if they
accomplish their purpose would they sell
groceries one whit cheaper? Not bit of
it. They will take everything they can
get and then ask for more. They do not
seem to know that the transportation of
freight is done at less profit than any
other business in the country. Five
years ago we could have said it was i'm
possible to carry freight at the rates the
railroads are now getting. Think one
moment of the great reduction that has
been made in that time. Perhaps in five
years from now we may look back to the
present rates and think these rates were
high. It may be. Who can tell what
will be the results Of the growth of the
country and of the constant increase
of business? But let the reduction
come from fair and open competition.
The railroads do not want to charge ex-
orbitant rates. They cannot afford to
do so. They do want rates that will give
fair consideration for the work and the
investment. When I cannot get that /
tell you I shall sell out and go into
something elee- It's O matter Of BUSH
ness, and that is all there il about it
Yes. there is the labor question, Of
course. do not know what is to be
done about it. We are paying the same
price for labor that We did when the
prospects were much larger than they
are now, but if we attemp: to reduce
wages there goes up again how. from
the antl-mnnopolists, who cry that We
are grinding the poor that we are taking
bread from the mouths of our rkusn.
| do not know what We can do about it.
How do the market prices of stock,
compare in your opinion, with the real
value Of The railroad property
he stocks Of good roads are too !ow.
real value. Take Lake Shore for exam
pie. 1t earned its dividends last year, l
said q few minutes ago, but there are
men in Wall street who think they
know more about it than do, and they
will tell you, suppose. at it is not
earning much of anything. Under good
management, the Lake hire cannot
ever fail TO make more than 6 pr cent.
| have every reason to think it will earn
its usual dividends this y ar, and it GER
t4inly will if business should improve a.
l think it will, bat it will pay per cent
always under good management, and q
good 6 per cent. stock. like the Lake
Shore, ought to be selling a. lea,t at 100.
Il has No reason 10 be selling
where it is, but l Ell pose it is all
owing to those "bea s., in Wall street
1t is their buiness 10 depreciate the
value of the property of other persons,
but it is 8 mean and dirty business too,
aud that's all there is about it. There
are some very good men in Wall street,
and CT course some of the "bears." l
know that as / meet them at the hotels
and on the streets occasionally. nod to
some Of them when / meet them, but
they are cheap fellows, very cheap men t,
all of them. When a man buys stock
he has got 10 have something to do it
with, but bear, poohl he sells some
thing he hasn't got, and makes money
out of the necessities Of other people, and
a man who will take advantage Of the
wants of others, is 8 neal, cheap man.
He sells the property Of widows and or
phans, and t,of their necessities he
grows rich. I it'd you. it's poor, mean
business, end Gnere is only one salts
faction, that easy come easy 90.
These men usually leave in Wall street
all they make. YoL will see some of
them struttiDg around the hotels and
smoking cigars, but they are 8 cheap
lot, the whole Of them. AS my father
used 10 say they sell what they haven't
got, and that Is the meaneat business in
this world. Sustain my stocks Of course
| shall protect nay property. They can
put my stocks down If fhey want to. bat
| think | know what they are worth.
There ia price at which I will buy the
onfira 20 pisa al ct0nk ~ INV roaI. VII A