New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1882-03-16

T. ,,;,r,ads suffered accordingly. How utterly
80, : some of the talk Of legislation
nhout railroads, Why tell me. should the trans
narration of grain be matter OF Legislation, ""o
n few speculators, selfish and unwlSe, are ano"0u
to throw the whole carrying business into CONFUSION
~, ,ho;r sneculative movementst Legslate to re-
strict such ruinous speculation in grain OF eise '''
alope the transportation of it, when Is feeu"'O
sufficiently by competition.
Talking about competition see now '"o "'"'',''
ishemmed in with bankrupt roads. Why' on one N"e
is the Grand Trunk and on the other size 'he Eric
bo,h of them bankrupt That is competition enough
for ANYBODY They make the rates oil transportation
ond we can get no more than they do. although
We nav dividends and they do not. They dictate TO
Ms what we shall carry freight and passengers ior
and we have to submit 10 the dcta'iolL
Tur harm RAILROAD COMMISSION MIGHT DO
"What legislation contemplated Y
"why this talk about railroad commission IN
New York-peope do not realize what railroad
commission might mean to MS they 40 not 'ea'1o
that 10 nut us under.a commission would oe SuhpV
to place us at disadvantage WIN "u'
connections All the rival railroads are doing
all they can to help forward the movement 10
establish railroad commission in this state.
Their officers see plainly just how it would
hurt us and help them. No, no; y ms
State must have a railroad commission, let me
other States through wtdch onI coinpeW,,l n,r
YnrL ;nstitnton like the Central al the very mercy
Of rival lines. The practical operation OF such q
law wnuld be very pla Suppose the law Shouid
coInve the Central 10 take ITS oca business on the
basis of It's through rates. The Erie and Tue tehh-
syvsnia would quickly make such through ratSs ~
would just about ruin the Central. halnpeIG;d
with such q law. Those roads. so lar as theY "iu
business falling within the Pis9,v,sIit%ins
Of the law, would overcome their d'incnnes
ty their freedom III other states; the Central being
entirely within the state. would have no chance
t. suS effective 0pposlon. he tac' Is 'nSSo AMI
HIM, lttA pmu
not be heard of III few years. but Just now they
are trying to make great fuss They don't know
political power of some kind other. Demagogues
that is what they are-demagosues ana 'ha' ~
Tue Central has only one object . and
ali all along its line. The prosperity of -
customers is It's success II is mere business thlS
running Of railroads. We manage theuito get re-
turn for money. just as men sell groceries
or dry goods They do not do business
tbeyf No. they strive to make prOht, LOT
out of the income they support lher lalnes al,a
want to get who run railroads When cannot get
fair return for my III Investment you can Jast count
me out and that's all there is 10 1t.
now THE COST OF TRANSFORMATIONS HAS REEN kE-
DICED.
"These antimonopOlists want to cut down our
profits suppose, but If they accomplished their
PURPOSE. would they sell groceries whit
cheapcrg Not bit of 1T. 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 Prot
than any other business iii the country Five years
ago we should have said il was impossible to carry
freight at the rates the railroads are now
getting Think momeut of the great reduce
1ion that has been made in that time. Per-
hans in five years more may look back TO the
present rates and thiuk these were high. 1t may
Be; who can tell what the results of the growth OF
the country and of the constant increase OF business
may he But let the reduction come from far and
open competition. The railroads DO not want
20 chargc eAUrbtan rates they cannot afford 10 90
90 They 10 want rates that viii give tar re-
Enumeration for the work and the investment When
cannot get that, tell you shall sl oa land ana go
into something else It's mere matter OF business
and HAT rs all there is about 1t.
s. Yes there ~ the labor question, of course. d"
not know what is to be don6 about it. We are pay
ing the same price for labor that we did when the
profits were much larger than they are now. But II
W, attempt to reduce the wages, there goes up
again a howl from the anti-monoposts. who cry
thai we are grinding the poor; that We are taking
bread from the months Of ouI workmen. do not
know what we can do about IL
PRICES oF STOCKS NOW TOO Low.
How do the market prices of stocks compare. In
your opinion with the real value of the railroad
properties y
stocks of good roads are too low they have
been depressed below their real value. Take
Lake Shore for example. 1t earned
its dividends last year. as sald
a few minutes ag". hut there are men in Wall
Street who think they know more about it than |
do. and they will tell you, suppose. that is not
earning much of anything. Under COOL manage
,rent the Lake Shore road cannot ever fail
~ earn more than g per cent. | have every
reason to think it will earn its usual
dividends this year. and it certainly will If
tho business snonld improve as think it VIII But
IL will pay o per cent always under good manage
Ynent and a good per cent stock like Lake Shore
opght 10 be selling at least at 800 II has
no reason to he selling whore it is. But
! suppose il is all owing TO those
bears in Wall Street 1t is their business
10 deprecate the value Of the property OF other per
sons but It's and dirty business, and that's
ali there is about it. There are some very good
men in Wall Street, Of course, and some
nj the hotels and on the street occasionally nod
TO some of them when meet them. But they are
cheap fellows, very cheap men, all 81 Them: men
II with but bear pooh lie sells sometm ne
hasn't got and makes money out 81 the necessities
IF the wants of others is mean cheap han. lie
sells the property of widows and orphans,
aud out of their necessities he grows
rich. ! tell you it's a poor. mean business.
and there is only satisfaction. that easy come,
easy GO these usually leave II all rect all
they make. You will s-f some OF them stIutung
around the hotels aud smoking cigars but they are
a cheap lot the whole Of them As my father USED
10 SAY they sell what they haven't got and that is
the mcanrst business in this world"
DETERMINED TO PROTECT HIS PROPERTY.
"sustain my stocksf OF course | shall protect
NY property They can put my stocks down if they
want TO- hut think know what they are worth.
There is "A price at which will bny the entire capt.
tai stock OF my roads What buy put away;
buy il for what can make out OF II; Tor the re-
turn Oh the Investment.
J,R. GREEN on TELEGRAPH PROPERTY