Audubon County Republican. [volume] (Audubon, Audubon Co., Iowa) 1885-1894, 1888-03-01

singular piece OF property. II Is unlike any
o'her property IN this. For example, a man
lakes mortgage upon farm. He does 80
WIN view TO the salable value OF the farm
ny when nc can pay his debt But When
man lakes bond and mortgage on rail-
roadt he does not take 1t with view to sell
ing the embankments and iron and ties and
cuts al all, lie takes II with the implied
understanding and agreement that he shall
get no return for the money invested until
'nc ROAD shail nave traiiic enough along its
siues ana NJ It's Two ends, To pay all the OPP
Grating expenses ANA make IL paying con-
Germ, ana me residue, " there any.
NC looks 10 Tor his interest OH
nus money. To-day there are six
through competing lines from Chicago 10
o. iaui ana MINNEAPOLIS do not stop
mere 70 name them. You gentlemen are all
iamiliar win thenh Three years AFRO there
were only thfee through lines nom Kansas
WY 70 ohicag"' ana the business 10 IN trns-
poi'o" was aoont Si.,oVV,ooo ANNUALLY, anu
those three lines were not taxed anything
IKE 10 the extent OF their capacity. Now
tnofe are eight INES between chicago anu
hailsas Wy competing Tor the same pnsi-
ness You VIII readily see, gentlemen, that
thele mas been no snch increase IN popuia-
won una business Us 70 Justliy tiis increase
III foaus' MANY people say ana u may DO
uue' 'ha' THESE roads We're actually built De-
cause me pooithg system enabled inc rail-
ways !" ma',i'uih rn'es when were 80 large
ana pron'aole that II induced their people 10
puiiu unnecessary roahs' l am not now
ABOUT 10 dispute that proposition. ! nave
ohiy @nteu tne TACT that THESE eight lines DO
now eNis1 inc ins' one running through TINS
city, being the piagonal-the chicago, Kan
sas oity " o. fani road
Now, so back to state n little Of the rail.
way conditions east OF Chicago. There has
grown up large system OF roads south OF
Chicago which are competing for the Mssls-
sippi and Missouri business, coming aud go
ing from the seaboard, and they consist of
tile Ohio 4 Mississippi from Cincinnati to
st. Louis direct; tho Vandalia line; the
indianapolis n st. Louis; the Wabash line,
which lies north the Bloomington " West
ein, and the Peoria Il Western. and quito
number OF other roads, oil connecting at
Buffalo and Pittsburg and other cities With
the trunk lines east II turned out after the
Interstate Commerce law passed that these
roads began 10 cut tho through rates from
New York TO Mississippi and Missouri liver
points, and when they cut those through
rates ON those lines II reduced the local rates
under the fourth section all the way along
and that made the local rates In the State of
Illinois and In the State Of Ohio very much
less than they had formerly been. And
therenpon rs the Wabash came Into
keokuk and Burlington. II came d.
rcctly In competition with the &. H.
x O., and the q. d. Il q. was com
PEELED to lower their local rates; and the c..
Is. u q. came into contact with tho Rock
Island and that compelled II TO lower lts
rates; the Rock Island came into compcti-
ton with the Northwestern, and thus lower
cd IFS rates and the Northwestern with tho
Milwaukee and ST. Paul. So that II has
TRANSFERRED now that the local aud through
rates In all the northwest have been reduced
| cannot tell you exactly, but probably not
less than 30 per cent since the Interstate
Commerce law went into effect This lspre-
ciscly what Congress expected. that com
petition, when left to itself, would reduce
these rates very considerable and u has
done so But In all these eases these rates
are generally reduced under the stimulus OF
active competition TO u lower rate than u liv-
Ing rate, aud II may be they have gone there
now.
Now, gentlemen, want to invite your at
tentlon 10 the situation On the north OF Chi
cago which IL affecting the rates at 81. Paul.
II Is 1870 miles from Duluth TO ST. Paul by
rail, and there are two lines OF railway there.
: The transportation OF all heavy goods from
the east by water IL precisely the same, and
the distance is the same from the eastern
seaboard TO Duluth TINT II Is from the east
ern scaboard by tho lake 10 Chicago, and
therefore the lake rates are the same. Tho
railroads between Chicago and ~. Paul
| miles from Duluth To st. Paul, so that IL
al