Sacramento daily record-union. [volume] (Sacramento [Calif.]) 1875-1891, 1885-01-10

direction. But if it run into competition
ut one end and into itself at the other, the
longer hauls being limitations on the
shorter ones, it would submerge the whole
line in competition. Applied to the grain
traffic of the Central Pacific system ofroads,
il would bring the whole of il to tide-water
at competitive rates. In defiance of natural
laws which compel, and of the Constitu-
ton. Section 20, Article MI, which ex-
pressiy permits competition, even TO gra-
tuitous carriage, " from one point TO an
other" . il would put the whole system,
from end to end, in constructive compeu-
ton with barge, sloop and steamer. That
such a tariff would be an insutferabie fraud
upon shipper and carrier, in conflict with
the laws OF man and nature and therefore
impossible. is no merit of It's own. Ii Is
simply the exploded DOGMA OF uniform
rates. with the addition of tape-line.
How it has been treated upon principle and
authority will be found i'll the judicial
opinions given in the report.
COMPETITION BETWEEN CARRIERS.
The subject of competition between car
riers and its effect upon shippers is taken
ND and thus commented on: Al cOmpet-
ing points the producer, manufacturer,
merchant, consumer and shipper are mas
tiers of the situation, and if they We're al
ways Just and impartial the rates they tix
might be considered prima facie, fair and
reasonable. But as they are not better
than other men, it may be that when they
get corner Oh carriers they are selfish
enough to make the most Of it.
In stating its views on this subject, the
Commission says Like that of Virginia,
it holds that competitive through rates are
not the true criterion, by any comparison
or relation, of what is just and reasonable
for local service. Like the Commission OF
Alabama, it refuses to put its judgment
in the placeof competition. "
Ii goes further and distinctly taxes issue
with those who would put competition in
the place of progressive development, and
by uniform rates limit both to competitive
points Where nature has made 4 differ
ence this Commission, by ditferential rates,
has made, and viii continue to make, a
corresponding distinction. Thus conced-
ing their natural advantages to seventy or
more favored localities by sea-shore, 1t eX-
tends to a hundred mountain towns, not
the best or cheapest, but better and cheaper
communication
| STOCKHOLDERS AND THEIR RIGHTS.
In 1882 the number of stockholders in
| the Central Pacific Railroad Company was
| 1910 In 1888 the number reported was
| 219S, an increase of S5S. If the ratio of in
crease has been constant the number now
is probably nearly 5000. The Commission
adopts as its own the declaration of Com
missioners Stoneman, Doyle and Smith in
their last report, rs follows: Our rail
roads have been built and are owned by in
dividuals whose property is as sacredly
under the protection Of the law as that OF
any other individuals. To render the
| stock and the road valueless to their own
| ers would be atrocious tyranny. 1t should
be added that whether done by three or by
thirty tyrants the atrocity is the same. And
as to take away the basis of values and
credit is to weaken or destroy them, it fol
lows that to jeopardize or deplete the in
| come of the roads, is to short or depreciate
| their stocks and to injure their owners
This is SO irrespective Of the agent or pur-
| pose OF the injury.
In speaking Of the Southern Pacific road
the report says that it is a work Of public
economy, by which the State has gained
much more than its owners. Its influence
in reducing freight charges by sea is pointed
| out, and the reduction estimated at 81 PEI
! cent.