Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1889-04-13
RAILROAD FREIGHTS.
A Problem That Some People Con-
slider Vast and Complicated.
THE P. R.R.'Ss19,O 100000 SURPLUS
Regarded as Prudential Reserve to Bear
Grievous Burdens.
LAYMAN AGAIN DEFENDS THE COMPANY
To the Editor OF The Dispatch:

As true journalist you are willing to
give one a fair hearing, although you may
not agree with HIM. This is shown by your
insertion of my article in last Saturdays
DISPATCH, and by your editorial accom-
panying it, and your spirit of fairness is my
warrant for venturing to solicit your further
audience
Ny object in discussing is never merely
to win a triumph; it is to arrive at truth
and to attain justice. In all propose to
say about railroad freights want to de-
velop correct principles of action, and to
find proper answer to the question, what
are you going to do about it?"
The problem is vast and complicated, and no
one can have any conception of it, except as he
actively engages in the attempt to solve it, or
diligently studies it It is many-sided, and we
must endeavor to rise above mere partisan
views-looking at the other side, and all sides,
as well as the side to which our individual in
terests Qf any would tend to incline MS. 1t
will do no good to use personalities, for they
are not arguments, nor to set up your own man
of straw. and bravelY knock him over, under
the delusion that you are demolishing your
enemy who may have never even alluded TO
your man of straw; we should endeavor to use
only solid, ingenious argument and to stick to
the text.
Some of this may seem rather trite but it ap-
pears to me TO be apropos to some of the ideas
contributed to Mondays DISPATCH. l am
not combating anyone with personalities, and
am confident that Mr.. Carnegie himself would
not claim that l am. as Veteran" tntimateS
Mr. Carnegie is an old acquaintance, and I
have had some personal business dealings with
him, and believe we are good friends. have
followed his career with great interest; have
read his books with delight, and am greatly
pleased that his principal public benefactions
are being devoted to literary institutions. He
evidently wishes to level mp, to raise the poor
and ignorant to better conditions. He, desires
TO do and is doing, grand service to his fel-
low man, and deserves all of his great wealth,
for am confident he will do all the good with
it he can. He is great in ability and great in
purpose, and being possessed of the necessary
means, he will be able to carry out many of his
noble purposes. That is my opinion of the
man.
SLY INSINUATIoN.
His dealings with the Pennsylvania Railroad
Company have been very much moro extensive
than mine. and from his long career as en-
ploye and patron of the road he ought to have,
and doubtless has, a thorough and intimate
knowledge of the true inwardness of its meth
DDS. He doubtless knows much about the COM
panys dealings with the Standard Oil Com
pany, for instance, and if these or any other of
its dealings need ventiating in behalf of justice,
let them be shown up. Fiat justitia, ruat
cRlum! At the same time, while would con-
demn whatever is wrong as decidedly as any
one, feel assured that the great bulk OF its
business is as fairly conducted as clrcum-
stances will permit, and that many of the
things which are condemned would be &C
corded full justification if fully understood.
So far as Mr.. Carnegie is right in his warfare
upon the PENNSYLVANIA Railroad Company,
hope he will win, and that he will succeed in
reforming all genuine abuses. wish also that
he might always take pains to state his case in
anf1N for oNv-h hfh
attacks seem to me TO come so far short OF this
standard, that 1 am impelled, almost solely on
that account, to protest, and to say what little
can by way Of effect chiefly to satisfy my own
sense of justice, for do not presume to set my
self up as the champion OF the pennsylvania
Railroad Company.
THAT BIG SURPLUS.
A great deal is made out of that SIS, ,ooo, ,oOC
surplus 1t may be well to ascertain, if we can
what that surplus really means I have be
fore me the forty-frst annual report of the
Pennsylvania Railroad Company for 1887 and
the preliminary report for 1885, from which
gather the following statements, VIZ:
Statement No L
ASSETS, 1855.
Total cost Of construction, equip
Total cost Of bonds and ISs 2s6 oSS s
All other properties at cost......... Se, 6SS 6oS
a8a O64, 50 Q
LIABILITIES, 1888.
Capital stock. .SlO6, 545. 400 90
Mortgage bonds, ETC.. sc, $40, 2S3 IS
Other liabilities. 40.71e, 4S5 70
- sra SIS 1es 6
Credit to profit and loss 1888 1s % s6s 8
Statement No. 9.
from surplus FOR 1885 as stated S19 % s6S 8
TaKe surplus for 1887 which is ........ IL COS s s.
Increase for 1855. g. sl4, 90 s
Statement No. 8.
for...........i.. - els. 70 sss 8
Take cash in London to pay
coupons. VI, lZO, So6 Il
Cash held by agents and
treasurer................... !, 81 174 IL
--- g. s4S, 100 S
SlA 80 ~ "
In statement No. we have condensed ex