Waterbury evening Democrat., 1889-02-09
OUR RAILROAD PROBLEM.

It cannot be doubted, from the puDllc interest that is being drawn to the mat ter, that Connecticut has a very weighty railroad problem on hand. Neither can it be doubted that, before our legislators shall have passed for the last time as members of the present assembly from outs the shadow of the gilded dome, some very important and far-reachlng railroad history will be written. Whether that history shall leave it's i'm press for good on the interests of the state will depend on the wisdom and prudence of the legislators themselves.
 It is being very industriously alleged that the purpose of the Housatonic man. agers is to parallel the New York and New Haven road, and that their object is in the nature of speculation which IS bound to be ultimately disastrous to all but those who are inside the scheme. In so far as the parallel scheme IS con- cerned, there does not seem to be any effort at concealment on the part of the gentlemen interested, and President Starbuck's frank acknowledgment before the committee that such was the intent will go far to inspire confidence in his further explanations and promises. There is, however, nothing to sustain the assertion that the parallel project is not designel in good faith, that it is a pure ly speculative scheme, designed, as the Hartford Courant maintains, ito force the Consolidated road to buy off what the managers themselves admit Is a parallel scheme" Indeed, as the Housa tonic and its leased lines are but a part of the great New England system whose controlling powers represent mil lions of capital that would hardly find profit in selling out to its great rival, a better purpose than mad-cap speculation must be conceded to the gentlemen who are behind the project We prefer to believe that they see ln a parallel road profitable business venture, that they are really convinced that the returns from operating such a road would repay the investment, and that in its construc
 tion and operation they are pursuing business policy based on the experience of profitable and legitimate competition. And we are not entirely persuaded that l the public is removed from all considera- tions of profit from such rivalry when we recall the old adage about competi- tion being the life of trade. If the | Consolidated road now furnishes most excellent ommOdations-and nobody could reasonably maintain to the con- trary-might it not be spurred to even greater exertions by the fact that it had 8 rival competing for the same patron age to which it caters? And would not the travelling and freighting public be | the gathers from the more earnest atten- 1 tion to their wants that would come with such rivalry? The state, too, would be the gainer, for it would have an addi- tional taxpayer, it would secure new citizens in the increased numbers of men necessary for the operation of the new road. and it would benefit from the building up of the towns which the roads would touch. There need be no fear of | injustice to stockholders, for we take it that there is likely to be business enough for both roads to furnish all the returns to which stockholders ought to be fairly entitled.
 For these reasons, and for others which will suggest themselves to thoughtful minds, we favor the concession by the legislature of the petition of the Housa- tonic for power to increase its capital stock. The purposes involved in such increase seem to us legitimate, bene- ficial and public-spirited, and unless it can be shown that those who seek it are not acting in good faith there is no req son for withholding the grant. If there be any doubt on that score the state can easily impose such conditions as to safe guard every interest involved. We hope, for the sake of the state and the private interests concerned, that the legislators will approach the consideration of our great railroad problem animated by a
 broad public spirit and disposed to effect its solution in equity and justice to all
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