New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-02-21
NATION AND RAILROADS.
THE PRESIDENT OF THE ALTON URGES THE
GOVERNMENT TO BUY THE LINES.
HE CHARGES THAT THE PRESENT SYSTEM is
EQUIVALENT TO CONFISCATIoN-HIs PLAN
FOR RUNNING THE BUSINESS AS
A NATIONAL CONCERN.

Chicago. Feb. 60 (SpeclaD.-Presdent blackstone
OF the Chicago and Alton, has issued his annual
report lie dilatcS upon tho part the Government
ha, had in reducing railway values and ends with
detailed proposition TO the Government to buy ana
opc.lte all the railroads Of the country. The report
i, AN extremely long and mention OF the points
made even /, impossible. His arrignmcnt of Legs
Iatiyc action and his proposition for Government con-
troll Of tho railroads is IN brief, as follows:
Tie remarkable course which the Government has pnr.
sued ia causing competing railroads 10 be constructed anu
v lnpo.lng what appears to be. in some eases IN
necessary restrictions upon railway managers cannot d.
t., often referred to while Il romans unchanged IL Is
t TO say that the state Governments are not responsible
for the q the many railroads Ihey ana '''y
only ha,c had absolute power TO prevent the bunde oil
aiirad No railroad has been can be constructed
o ia. rud state, except by State Fed raj authority
II 81, mo- answer 20 say that the object IN multiplying
railroad. has been 70 regulate rates or 10 reduce 'n
Within reasonable limits Reasonable raes cannot De
secured BY multiplying railroads without limit IS wen
.rht a nan AZ the head large family attempt 10
re,o hi, servants, whom ho has already suhcieHo
NUMBER. BY adding many a. his house VIII ho'u' anu
then attempt % obtain good service from them by r"uchg
tbc, WAGES and eplng them IN haif-starved CONDITION
IL said that We sAoHlo nU'
comillin unless prepared to suggest remedy We VIII
therefore suggc, the ownership o. railroads Oy inc NJ
onal Government and the organization OF corps or ran
road operators who rain In the service during Rood
lcha,o and be IN GREATER degree under the influence
o, politicians or political parties than the army militant
Tho outlines OF suggestion may be stated a. follows
TIr-Thc national crumcnt shall acquire the owner
-n5 Of all the railroads the United states which arc
now used for ranc, such railroads 10 De- a''
ure y tho exercise Of - right q eminent DOMAIN OF
by purchase under such limitations and rules as % price
a., Conkress may determine.
Seood- Payment therefor be made by the ISSUE Of
Government bonds bearing interest AZ rate not exceeding
q ,r cont rer aunum said bond, b. redeemed By tho
annual application Of sinking fund. equal IN amount 20
ono per cent Of the whole amount Of such bonds issued
tho annual Interest and sinking finu 10 DC PAW 4i' ~
NOT earnings ~ the railroads, aud the ratios Tor taSo
,,, f,u yoar TO year 10 reduced, a. u pO'lde
mo- moro money than shall be needed Tor such payments
11irdro the end that citizens Of each State SHAH De
rcqr,rcd 10 pAy greater rates for transportation ~
h,u DO necessary TO produce annual amount Oh net
earning. ON the railroads ot the state IN "hch ucy Iu
,l In th annual interest and sinking fund on 'he ooh1'
issued by the Government IN payment ior SUE" i"''
. .euart schedules OF rates shall Dee made for trans
uortation ON railroads in the several STATE anu mans
fro tiu a. NAV be- necessary 10 sccui" that Oo!ec'
tr, snch railroads a, may Doe hereafter Constructed
aud d for Interstate tralc tho several states may DO
Dur ha-ed 10y the National "o'ernm'h' VI "o ." ~ W
=, ,., Government shall az any time not elect to
rurb.e ruirold, hereafter constructed anu u'u LOT '
state traffic IL shall nevertheless have h' rpn' 10 nv
u.-,,ch rates from time TO time Tor ua'"c
over Che same, IN connection WIN o'"c'
lines. and all such through rates sha De
,.t,id.d between the several Ines owned by
the Government and lines not 30 owned IN proportion TO
MILEAGE. .- ,.,
rfthA Board OF National Railroad Directors consist
,c ~, - usrsos shall be appointed by the President OF
me United states aud persons appointed snail ho'u
ch onre, during good The Board OF Directors
m ooponted shall exercise general supervision over ana
,, all necessary general orders relative TO- the man
,o,n,o and operation OF such railroads, subject 10 Such
l,cs =. Congress nay from time 70 time enact
In an interview this afternoon President Blackstone
said:
mean all have said. and more have shown ina.
a., ,.,,,,ont has practically connscatcd hundreds OF
millions OF railroad property. aud that things Keep on as
ho, have another decade will every railroad IN heip
less bankruptcy.
Tho statistical part of the report shows; loUu
Icnetb main track, 03t0O miles side tracks, @o9'''
t,,... ., = miles: capital stock $3l,71iI5O; gross
earning, for I-o0 S77ooAo1 l.; inca,c Oyer 10.
,,,.r go63lo I6; balance on hand, $2,7lo,o9O L.