Waterbury evening Democrat., 1889-05-15
them by the men who are racking their brains fer new tortures to put upon them,
THE CONSOLIDATED INCREASE.

l titiOn of the Consolidated road for
 power to increase its capital stock will
 begin before the railroad committee at
 Hartford tomorrow. Whether the pc
 tition will meet with any considerable
 opposition cannot now be foreshadowed, 1 though it has been hinted that the Hous-
 atomic people are disposed to make some
 trouble. AS an earnest friend of the
 Housatonic and profound believer in
 the justice of it's demands the DEMOCRAT hopes it's managers will do nothing to
 hamper the Consolidated.
 It will be remembered that at the time the railroad commissioners made their special report favoring the desired increase of stock for both roads we took
 the position that the report should be
 made the basis for favorable action by
 the legislature. So far as the Housaton-
 ic's petition is concerned, the railroad
 committee has not deemed it wise or ex- | pedient, after an exhaustive hearing, to
 report favorably. We believe this
 action of the committee is, a
 mistake and liable to cause charges of
 favoritism that cannot be easily ex- plained away. But though we have
 been urgent in favoring the claims of the
 Housatonie, and though we regret sin cerely that the committee did not see its
 way to report affirmatively on its peti- l tion, we are none the less heartily in
 favor of granting the power of increase
 asked for by the Consolidated road. If
 injustice has been done the Housatonic
 we would not for that reason have treat
 ment dealt out in kind to the Consol- dated. The latter has claims on the legislature in this matter that cannot,
 and we believe will not, be disregarded.
 For years it has given a wonderfully
 efficient service, and it has gone on in-
 creasing its facilities until it has reached
 a point where it is ready, with the power
 of carrying out its intentions that is
 sought by the management, to step to
 the front of all American railroads. Tho
 Consolidated road is the largest tax 1, payer in the state, its contribution to the l state treasury last year being in ) the neighborhood of $4OO, ,OOO. With its
 capital stock increased and the
 improv ements made which it is designed
 to make as a result of the increase this state tax would become considerably larger and the state would thereby be the gainer. Persons living along the
 lines of the leased railroads which it is designed to improve with the means
 secured by an increase of stock would :, feel the impetus of those Improvements in market for their labor or supplies and in the enhanced value of their lan(
 that is a necessary consequence of wei equipped railroad in the vicinity. Tt take up the capital stock and bonds O. those roads that are leased for term O. fifty years or more, which amount tt about SIS. .O62, ,S5S. 24 on which a rental i 5 paid of about $940, ,000. would require u as the railroad commissioners estimate V, about sig, ,50O, ,0OO, which with the pre-
 sent stock and indebtedness of the roaC u would aggregate S53, ,000,OO The fou T. tracking of the New York division whicl
 is now under way, and the doubl,
 tracking of the Shore Line division
 which IS in contemplation, would cost a
 least $S,000,000, and with the grad
 crossing law putting the entire expens of eliminating these death traps on tn road an enormous additional burde1 = would be placed on the Consolidated
 To meet this great expense and to ex :, tend the already magnificent facilities o the road the company demands, witt
 justice, that it be granted the power o
 increasing its capital stock. How mucl the amount of the increase will be mad ~. known at the hearing.
 As we remarked above, we ar Z heartily in favor of the road bein
 granted the power of increasing it if stock. Such increase would be bene r. ficial alike to the stockholders of tn IF road, to those owning stock in the lease l. lines, to the state and its citizens, to tn ,s employees of the road and to those other x of our citizens who in the improvement m under way or contemplated would fin market for their labor or supplies. I r. the consideration of the petition tn m railroad committee and the legislatur ,el should have thought only of these be1 If efits that are certain to proceed froI 10 favorable action on the roads petition n No extraneous considerations should | is taken into account, and we do not b. ,o lieve they will be- We look for a favo ia able report from the railroad committe 70 and favorable action from the legisl; in ture on the petition of the Consolidate, It One Unonending Editor.
 lk First Senator-The president has a] Iy k14hted the editor of the Numbsku paaly to 0 consulship, eh? We'll, don y bpowanythipg about him. Has he evt IT written anything unpleasant about us?