Sacramento daily record-union. [volume] (Sacramento [Calif.]) 1875-1891, 1882-08-28

latter are the main things that attempt is made
to regulate. And to take away from these their
value is to confiscate the labor OF individuals to
cohiiscate property to blot out individual rights
anu the great associate principle upon which rests
our political, social and business prosperity and So
curity But am sorry to say that the supposition
mat our net profits nine million dollars per
mum is a great mistake. more careful scrutiny
oil cur annual reports would reveal the facts. From
tue apparent net earnings there needs to be de-
quoted the various amounts set aside for sinking
iuhd rrsr the law. legal expenses taxes interest,
ETC., Ia order to obtain the actual net available for
'nds, SO that in fact, since the COMPLETION o,
me road We have been able to pay in dividends an
amount averaging only tcar per cent. per annum
Inc greatest net earned in any year was 10 1879
"heh 1t reached nearly eight per cent upon the
capital stock ssued or in exact figures four mill
on three hundred and three thousand and fifty dollars
and ninety three cents The next largest wear MAS
iSsi' when the total was four million two hundred
aud eighty one thousand one hundred dollars and
seVenty-three cents Contrast this showing with
that made for the Penusylyania Railroad for the
same year (see +" Poors Manual" page 272) The
Central Pacifcs available revenue from two thou.
sand seven hundred and seven miles was four mil.
Ion two hundred and eighty.one thousand one hun
cred Collars and seventy-thrse cents That OF the
Fennsyyana's from one thousand one hundred
seVenly-two and half miles was nine million eight
hundred and twenty-eight thousand eight hundred
and hity-three dollars and forty.eight cents
In answer to the ninth allegation:
That an irIecoucilable conflict exists between
transportation and p otuction
Kermit me to say that it is entirely without iounda.
tioh IN reason or fact The two are TO large de-
gree mutually dependent and especially is trans.
portat'on dependent upon production.
without production the carrier would have moth.
ing 10 transport, and on the other hand production
is dependent upon transportation because without
transportation the surplus could not reach the
market, and the interdependsncs OF the relation
between these two interests is proven when 1t is
remembered that the greater volume Of the staple
products OF the country is moved to its destination
and market ct rates below the average cost of trans
portation The relative rights and interests Of
transportation and production are COMPROMISED
and adjusted to each other by means of classified.
ton OF fre!ghts already discussed in another par
this answer. 1t is clear however, that the hiyher
the maximum, the lower. the possible minimum.
For instance the average cost of movement being
TWO cents per ton per mile, ten OF silk or other
INJURIES moved at the ximum rate OF fifteen ccnts
per ton per mile would enable the company to move
thirteen tons OF wheat at cent per ton per mile
and yet maintain the necessary average There is
scarcely any hing that the farmer buys at the store
that would be sold to him airy cheaper if reduction
Oh twenty-five per cent. were made For instance.
suppose thai the freight from San Franesc to some
other point is four dollars per ton a reduction Of
1"=ntyh ve per cent would be equal to only one.
nall mill per pound, reduction SO inconsiderable
that it would not be taken into account by the
vendor or the yendee But the increase of twenty
hVe per cent, especially for long distances ON the
products Of the farmer, might determine the oues.
tion of production
In answer to the tenth allegation
That material reductions in the rates OF freight
aud iae are demanded by consideration Of the inter
ests OF both labor and capital,
assert that the rates in this State every fair cir
cumstance considered, as low as the rates upon
railroads IN any part of the world and to illustrate
THE on selecting for comparison the rates Of twenty
Of the principal roads in the State Of New York i.
was found that there was average rate Of 2,6i
cents per mile for passengers while that prevailing
on the Central Pacific Railroad includng the HIGHER
rates charged in Nevada and the territories Of Utah
Arizona aud New Mexico is only an average OF 2.47
cents uer mite l=4-z-.-----a-1-