The Dallas weekly herald. [volume] (Dallas, Tex.) 1873-1885, 1882-05-04


grower would nay Tor the transportation NJ
the years product N his lnrm ten or
twelve times more than the COtton.Frower.
This method Of comparison extended
would exhibit discrepancies stu more
marked aud u IL 10 equnlize such dlscrcp-
nncies that freights are classified, and rates
varied, from the maximum allowed by. lnw
TO the lowest rates applied to articles
tstones, bones, etc., whose value will not
lowest rate permissible, The question
as to
now Low 4 RATE u REMuSERATtyE
Is so varying, and dependent upon so
many facts, as to empty cars, rains, acct
dents, ETC, that IL beyond human fore
sight 20 state them, except in special ana
individual cases.
To make brief our argument, that
could he extended into volumes, the rail-
road commissioners of various states have
finally concluded and asserted the trans.
pOrtatiOn problem TO be governed by the
usual laws of commerce and trade, and 1t
seems a logical conclusion that when an
average is sought, the reduction Of the
maximum limit would necessarily raise the
minimum limit, especially when the great
est tonnage is Of the lowest class.
The other evils proposed to be remedied
| by pending bills, If they exist at all, should
be relieved in such manner as not TO impair
| the ability of railway companies to sustain
| themselves in doing business rs
common carriers and protecting
the investments honestly made
under the existing legislation of the state
of Texas; and whether any or all Of the
evils exist or not, vet il is evident that they
are believed 10y many representatives VINO,
laboring under that conviction, honestly
desire to protect their constituents.
But we are not apprehensive, nor do we
desire to be understood, by any views we
may present, to express fear that injustice
will be done the railroad properties of this
state, after careful and intelligent inquiries
into the true condition Of these highways
of commerce and travel shall have been ill.,
stituted, and their results deliberately scru-
timed by the law makers. We do not
believe that the common carriers OF this
state will be dealt with by the peoples
representatives, in the light of the
facts as they are, otherwise than
other Taxpayers ofthe state, nor that their
REMEDIES FOR WRONGS,
nor redress sought against them, will be
transferred to forms other than those pro-
vded for the people of the state.
On account of the large number of bills
before you, and the wide scope of legisla-
ton proposed, differing so materially as
some of them do from each other, | have
not been able, and the very limited period
which has interviewed since have had ac-
cess to the bills renders it impossible to
make specific reference to the details and
provisions of each identical bill in terms;
but addressing myself to the main and vital
provisions, looking to the decrease in the
maximum of passenger and commercial
traffic, beg to call your attention, in the
outset, to the fact that your predecessors OF
the sixteenth legislature, after careful
ard intelligent consideration OF
the question, fixed a maximum
rate. At that time, in view
of the volume of business to be handled by
the railroads of the state, 8 cents per
mile for passengers and go cents per 100
pounds per 100 miles for freight moved,
were deemed as low maXimums as were de-
manded by the public, or as would compen-
safe the roads for performing the duties re-
quired of them under their charters and
under the law. Every company i'll the
state acquiesced, notwithstanding many of
them believed that under their charters the
legislation was oppressive, and in contra
vention of a contract between the company
and the state. Three years have elapsed,
and a fair experiment has been made as to
the wisdom of the legislation. The return
of prosperity to the country, and conse-
quent increased activity in every depart.
ment of trade and business, has saved
the railway companies of the state from
disaster by reason OF that legislation.
Yet you will perceive from the report of
your comptroller that not a railway COM
pany in the state has been able to declare
dividends to its shareholders. Some OF
them show increased earnings, whilst
others Have not been so fortunate. Dat the
lines which show increased earnings within
: last year, show not only largely in
creased mileage, out of proportion to the
increased earnings within the last year,
show not only largely increased mileage,
out of proportion to the increase of earn
ings, but also show an increase of expenses
more than equal to the increase OF gross
earnings.
| beg, in this connection to call your
further attention to this report, from
which you will ascertain the tons of freight
moved, the amount OF gross earnings, the
actual expenses, the bonded debt, and all
other statistics necessary to inform you
of the exact degree of prosperity OF
each company in the state. These sta
tistics are authentic; they are compiled by
the comptroller under law OF the state
They have been accepted as true, and are
to be taken and received for all purposes as
admitted information: You Will perceive
also, by further examination of these sta
tistics, that only two Of the companies were
fortunate enough, out of their earning, to
pay all OF the existing fixed charges upon
outstanding bonds issued and sold for the
construction ana equipment of the road.
The state of the case is, therefore, that no
railroad company in the state of Texas is
able, under the pres ent law, to make any
return to the stockholders for the capital
invested and actually paid in for the CON
struction of these roads, although not few
subscribed and paid in their money many
years ago.
The most prosperous of the railroad COM
panies, i repeat, are barely
able, under the law as IT
III. Iafe hnH
debt. Therefore, IL you make any reduc-
ton in the rates OF either freight or fare,
you not only continue
THE BURDEN or THE STOCKHOLDERS
of maintaining dead capital, but you place
it beyond the power of the railway com
panies to pay the interest upon their debt
What will be the consequence The mort
cages upon the properties oil the compahies
will be ioreclosed, and the stock, honestly
invested, will be lost to those who contrib
uted il in good faith, under an unbroken
line OF friendly legislative acts, beginning
as far back as the year 1851 or 1872. The
aggregate of the railroad stock actually
paid into the Texas railroads, as you will
see from the comptroller's report, is S1O,-
100000.
Is there a member Of this legislature who
would intelligently aid in doing such palp-
able injustice TO the citizens OF this or
any other state2 / feel sure that, how
ever jealous you may be TO tighten the
burdens upon the public; however anxious
you may be TO represent the wishes oil
constituency, you cannot, and Will not,
treat with 50 much injustice capital which
has been invested in good faith, and under
repeated declarations from the executive
and legislative departments OF the state,
that this great interest, which has deyei-
oped your state, converted a wilderness into
an empire, built up your towns and cities,
and more than doubled your population IN
and protected.
That I may be more explicit, pardon me
for referring especially 20 the company with
which am more familiar, because OF long
ASSOCIATIONS. believe there are no prop