Brenham weekly banner. [volume] (Brenham, Tex.) 1877-1907, 1886-09-09
RAILWAY CORPORATIONS.

| NAIL " Il OOHI Una IIONC.
For the past few years it has be
come the fashion of demagoguc!
and agltators to attack railway cor
poratlons, and every other corpor
alton, denominating them as grasp
ing msnopolies and enemies of th,
people. Suppose for a momcn
that all the railways and grca
manufactures of the country wcr,
suppressed or wiped ont of cxIs
tence and our population remained
as it is now, that is, without any dc
crease in numbers or change IN oc
equations. Millions of men aGt
their families would be thrown out
of employment and would be left
without the means of substance
The entire social system OF the
country would be completely rovo'
lutlonIzcd. Without corporations
it would be impossible to build and
operate railroads or extensive
manufacturing Establishments
There are two sides to every gues.
ton. Tho Railway Register, a rall,
way journal has something to say
on the railway side of the question
and as matter of interest to those
who never see or read n railway
paper we present brief synopsis
of its views:
Corporations arc artificial per-
sons which OF themselves have
neither hearing or speech, which
to q certain extent exist only in
imagination, and in reality are
only the names OF certain bodies of
men who own the corporate stock.
Personally these railway officials
are well known in their respective
communities.
According TO the latest figures
there are about 10000 miles of
railways in the United States and
which represent an investment of
$3.50, 100000. Suppose the Van
derbilts, Gould, Sage and all the
other magnates have so millions IN
railway stocks and bonds, the re-
mainder is held by other investors
who live in all parts of the world.
Tho investors and their represen-
tatives cannot be blamed for
taking an interest in the business
and legislation of the country.
According to the last census $780,
45S men were employed by tho rail-
ways and in the car shops 1914
more men are given work.
In 1885 the actual earning of the
railways were about 765 million
dollars, of which nearly 500 mil
lions we're expended in operating
Out oftbe net earnings
s1S6, 253,171 were paid out in in
tcrcst on bonds and floating debts
and only s77,672, los for dividends
on capital stock.
SO railways in 1888 resolved
for work about 10 per cent OF their
cost and of this all but little more
than one per cent. was consumed
in the ceufso of service and inter
est on borrowed money. The own
Drs of railway stocks did not there
fore receive an exhorbitant profit
on their investments.
1t is thought all right for farm
,rs and working men 10 havc leg
station in their interest, but when
is done tor railway
here is complaint. The people OF
,he United States invited this in-
7ostment of these elght thousand
million dollars and from that IN
ycstment they have reaped re-
urn from increased wealth which
S beyond calculation. The inves-
ors on the contrary have often
ost and DOW get profit of one
,er cent only. If the national debt
5 sacred, should not this capital
invested in railways be equally
protected?
The Register says the railways ;
re not arrogant, they simply claim
cgal protection. Even If Nj.
iould owns one per cent. of the
'ailway capital does this make .
'ailway cOfpeFatiOus grrogant? {
IAN laws be devised to prevent the {
accumulation of money? If polr- |
icIans and political economists are s
foE arrogance they need
Tot go for to find it. Municipal
'olitics are run by ward bummers,
nd men who never paid a cent OF
axes IN their lives arc pretent
n the oiaotiQp of officers, from the !
owest to the highest.