New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-12-24
RAILROAD INTERESTS.
A WESTERN ATTACK ON RAILROADS.

THE ATTORNEY GENERAL OF NEBRASKA Ck"E@'
GOVERNMENT CONTROL OF TRANSFORMATION
Lincoln Ncb. Dec. 23.-ln his report 10 the "o'
ernor giving an account Of the conduct OF MS on''
for the last two years. Mtorney-Gcneial Lcc'c NV
added some fuel TO the excitement growing out o 'o
present political middle in this state by hihiih- wv
TRANSFORMATION question without gloves ana adNo'd"e
Government control Of railroads. In speaking Oh NV
Board OF TRANSFORMATIONS which is composed oi h'r
state officers. including the Attorney General hc'sh'
the present system is complete failure eApcrcn',
fully demonstrating that the railroads are too p""er"
in their influence for the people 10 expect Wu'h !"
lief. The Attorney General recommends thnt a mani
mum schedule of rates should I've adopted by the LcE'S
laurc on a basis with other state similarly eltu'''"
He think, the railroads should be made to nhder'W'
that if is To their interests tighten the burdens I'll
the people and not merely make as larg" per cent
a. possible for the Eastern investor Inc Ia"
charged today" he says. large enough 7" Wei"
dividend amounting in some cases 10 per cent OH
stock that COS, the stockholders nothing Whatever p"'
for the printing and the officers Of these r"an> Use
every effort and strain every point to have the STOCK
holders of their roads receive their annual divhcnd>'
and they have 10 do this to hold their Jobs.
1t i notorious fact that the road, in Nebraska
now openly violating the plain provision OF our
fundamental law embodied in section Of Article II OF
the Constitution. which provides that NO. corporation
shall, -,uc any bonds stock except for money. labor
or properly actually received and applied n IN" pur-
poses for which the corporation was created, ana that
all stock dividends and either ictitiou> increase "i
oapta Sock or Indebtedness Of any Such corporation
shall he void II j. admitted fact that the rail-
roads in this CITY have outstanding stock m q very
large amount. that has not been issued for money.
labor or PROPERTY and the several reports OF theS"
roads -how dividends all such stock W"llh
recommend law forbddiug any railroad corporation
from issuing any mortgage bonds or stock until an
tented account If the cash. labor or property dnS
sworn Ia. has been presented to some ohiccr NJ mo
state for examination, and # found to bc trio az
count Of the money. labor or property received tH
register and certify Ia the same ~ issued In pur
suancc Of law and constituting part Of the capital
stock Of such corporation. such law would strike
ont all fictitious increase Of capital stock Of all roads
now in oprr ton ~ well a those 10 be formed mere
after
The report refers 10 the recent consolidation OF IN
ter sis in railroads and declare, that II i
menace public rights which requires Immediate az
tu,on Ia save people II this country from being
bound hand and foot to perpetual bondage 10 these
tran >pnrintcn monOpohss.'
Government coutrbl j. urged the only rcnncdV
The report ends by urging the Governor n bring me
matter before the Leg Stature thai that body can
send a memorial Con and bring the question tl
an issue before the people Of the country by tor'l
Ing the lien Of the Government on the Union racine
EailNrtd Company.