St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-02-22
BLACKSIoNk's PANACEa.
The Atoms President Suggests a
Railroad Remedy.

eAst o"NA
CHICAGO, Feb. 21.-The annual re-
port of the Chicago IL Alton Railroad
company for the year ending Dee. 81,
1889, was issued to-day. Ii shows the
company to be in much better condi-
ton financially than was expect
ed. The gross earnings from all
sources for 1899 were S7,5l6,616. against
S7.51l ,465 in 1888, an increase of S., Isl.
Operating expenses for 1889 were 81, Jl,-
1856. against 81, 66S, 0S4 In 1888, decrease
of 500, 34S; net earnings for 1889 were
S2,944, $50, against g, S43, $50 Ill 1883. an
perity is attributed to the fact that over
one-fOurth of the gross earnings for
freight traffic. OF over million and 4
quarter, was from farm pI oducts shipped
from local stations. The percentage of
such shipments in 1889 was about 81
per cent greater than the average for
the previous nine years. Appended to
the report was an elaborate dis
course by President Blackstone
upon the present railway situation,
the effects of the inter state commerce
law, and the regulation of railroads by
the government and states. He begins
with the statement that the PRINCIPAL
agencies employed by the states for the
last twenty years are
RAILROAD COMMISSIONERS
who fixed reduced maximum rates and
Speculatlng contractors authorized to
construct railroads where they are not
needed and cannot possibly obtain
traffic enough to support them. After
showing how the building of these roads
has caused the loss of many millions to
the shareholders of the older lines,
ne proceeds 10 give general
history of the manner i'm which
the national government has cO-operat-
ed with the various states in the regu-
latlon OF the railroads of the country.
He also submits tables showing the Der-
centage of increased mileage during the
last twenty years, the dividends paid
and, by inference, the losses sustained.
The great problem, he says,
with which seven-aighths of the
railroads in the country have
but how to maintain an existence and
keep out of bankruptcy. He ascribes
many of the evils with which the rail-
roads have to contend to the unjust
treatment Of railroad corporations by
our government. and compares the reg
nlations formulated by the English
government with those of our
own to the disadvantage of the
latter. He advocates higher rates for
the transportation OF freight on the
ground that the railroads have increased
the value OF lands TO fifty, and in many
eases to 100 times their original COST.
All reasoning from this he ar
CUES that there is no reason
why the railroads should be com
nelled to reduce their charges for
transportation indefinitely. Popular
dissatisfaction with the management of
railroads is due entirely, he SAYS, to the
manipulation Of the politicians who
have placed the railroads in the posi-
ton of
HALF STARVED SERVANTS
who must be thankful for such crumbs
as their masters may permit them to
receive. He does not think those who
have invested their savings In railroads
have done anything to merit such treat
ment. The government has the power
to deprive one class of citizens of their
just rights, but the exercise of
such power cannot be justi-
tilted. AS remedy for the
evils complained of. he suggests the
ownership Of the railroads by the ma
ii nal government and the organization
OF corps Of railroad operators who
shall remain III service during good be-
havior and bein nogreater degree under