The Indianapolis journal., 1883-01-16

operations. As regards their meddling with
rates, it would he all right il commissioners
were OF the character that they should be. With
good railroad laws aud good men for commits
sionersa commission can be made grand success
and a valuable auxiliary to railroad operation,
hut with bad laws and schemers for commits
siGners commission could interfere ser-
oHsly with railroad operations and greatly dis
tuTb the commercial business of the country.
The railroad interest of this country had be-
come too important to be tampsrcd with, and
bnrdened with uuwise iegislauon. The stock
holders and bondholders as well should have
some return for their Investment, and under the
most economical management at the rates
which composition enforces it was quite difficult
for majority of the roads to meet current ex-
peuees, neaVy taxes, interest on bonds and pay
dividends.
V. T. Maott, vice-presideut of the T.. P & c.,
thought that owing to geographical location,
Indiana Is especially favored with competitive
railway lines. There is scarcely an area twenty
miles square that does not have the benefit OF
cOmpetetion in railroad facilities. There are
comparatively few points on any OF the roads
that can be called purely local; rates must be ad
juSted to meet those of contiguous roads. Tho
people have advantages in this regard that per-
haps are not fully appreciated; freight tariffs
that are applied TO other portions of the West or
in the South, put into effect here, would resnt
in large loss of traffic to the road attempting it.
Under the influences af these advantages, the
material interests o: the State are developing
rapidly. Any changes in our laws that will
trammel our roads will result AS has been the
case in other States--in seriously checking
the prosperity of the State. can see no
pie in having railroad commi ssion. In States
wherever such commissions have been tried no
practical good has been accomplished. They can
have no positive authority over rates or trans
portation, their positions being simply advisory,
the making and changing of rates and furnish
ing cars remaining as fully with the
railroad management before. Wherey-
er radical legislation specifically prescrib-
ing railway tariffs has been tried, it has only
resulted in seriously gripping the roads fnan-
cially, at the same time proving detrimental TO
the commercial interests of the State
David Macy, ex-presIdenJ of the Indianapolis,
Peru q Chicago road, thought Indiana needed a
commission and railroad laws adapted 10 the
needs of the State, and on the character of the
commissioners and of the laws under which
they acted the success of the commission would
depend They should have authority to correct
abuses in local rates, which are often eXOrbitant
where there is no competition A railroad company
should have one object in view, that is to charge
rates which will fairly compensate for handling
and hauling the frelghts and no more. EX0rhit-
ant local rates tended to drive business from
the roads. Parties resort to other modes Of
transporting their produce Through rates were
quite as row as tney shouid De- lie th0ngnt the
chief mission of commissioners should be to
obvlate the abuses in local rates Possibly, IL
might he well that they should have authority
| TO gather statistical Information and
publish It,, that the public might
be better aware what the railroads were
| doing. 1t could hardly he expected that q COM
| mission in Indiana could be made much of d
success as in Massachusetts. The situation was
much acknowledgements owns her rail
roads, the stock and bonds were held by citizens
OF the state; In the prosperity OF the roads her
citizens were directly interested The railroads of
Indiana were in the hands of few men who
paid but little attention 10 the wishes of ship
psrs, but commission in this
| State would be an experiment It might do
good, and would likely do no harm. All de-
| pended, however, on the qualification of the men
| appointed as commissioners and the laws under
| which they acted. Good, sound railroad laws
| should be passed, and the commission should
have authority then to enforce such laws, or e Sc
they would be a nullity. He could reason
| why the commercial or the railroad interests of
! the State would suffer at the hands of good
| commission, and shippers certainly would be
| better Satisfied.
CINCINNATI SOUTHERN ELECTION,
| CINCINNATI, Jan. 15.-Tne stockholders of the
| Cincinnati, New Orleans & Texas Pacific rail
road, Cincinnati Southern division, have elected
| T. T. Gaf Briggs Swift, w A. Goodman, Otto
| Block, John Scott, Edgar NJ. johnson and Alex.
Mcdonald directors Tor the ensuing year. The
| first two named TOOK the place of Fred Wolfe
ami Theodore Cook; otherwise the board is he
same as last year. The new board Organlzed by
the election OF John Scott president and gen
eral manager; Edgar NJ. johnson, general ooun-
| sci, and Ii. II. Tatem, secretary anu treasurer.
| The matter or the overlssue of stock by the
| late Secretary Doughty discussed, but no
| proposition being presented, action was
taken. The general feeling of the board Is that
/ bR nr ~ Krfaa lu