The morning call. [volume] (San Francisco [Calif.]) 1878-1895, 1892-04-12
FAIRLY sAGAcIoUs BUSINESS MEN.

We copy the following paragraph from
an editorial of nearly column in length
from the Record Union of Friday last,
which it may be " ell for our citizens gener-
ally to read:
1t may be assumed that the railway transport.
ers are fairly sagacous business men, and that
as such they would not commit themselves 10 a
policy TO deliberately cripple their own interests
which lie In the conservation OF the productive
and commercial prosperity OF the city aud eUun-
Try alike. II is impossible TO conceive OF s3ne
business men COmmi ting the folly OF working
the Injury Of either OF the business interests
referred 10, when their own prOsp- rity is depen-
dent upon the advancement and fun development
OF boIh.
Wien, therefore, the San Francisco newspaper
press 4vers that transportation business is de-
Hberajely engaged in cutIyaiing an anlagOnism
between sections which can only result in harm
TO II as tie carrier between these sections il
talks folly and gives small credit 10 the reading
public ior Intelligence.
There are not many persons We presume,
In California who doubt the sagacity Of our
railroad managers in one respect, which is
their capacity TO put money in their own
pockets. When four persons who had no
money Of any consequence to begin with
contriye to so manage affairs as to obtain
from the public in a few years fortunes
varying between twenty and forty millions
Of dollars each, it is fair TO conclude that
they are not lacking in business ssgacity
The question is not, as the Record Union
suggests, whether our railroad managers
ARE fairly sagaeious business men," but
rather are the inhabitants Of this State
sagacious men. to permit such unparalleled
exactions as We have endured for several
years past.
Our railroad managers have received, as
we stated few days ago, what Is equivalent
10 seventy millions Of dollars from the Gen
eral Government in bonds and interest.
Then they have received S27, 855, $50 more
for f rst-mortgage bonds. And we do not
know how much these men have obtained
from San Francisco and other towns in the
way Of subsidies. but it has been consid-
cradle amount. Then our railroad magnates
have what they term paid-up stock amount
ing to SD. 100000 Here are three items
amounting to S151. So $50. Mr.. Huntington
complains because California does not fur
nish business enough to enable the railroad
managers to obtain dividends on all the
stock OF the Southern and Central Pacific rail-
roads. In our estimates Of what four men
have eXacted from Us we do not include as
we have suggested, the bonds aud grants Of
lands by cities and towns in California
Then there are the railroad lands, which
amount to some millions of dollars more.
The Mission Bay property has also been
obtained as a gratuity. This is worth some
millions more. The Record Union now
taunts our citizens by saying that the rail-
road managers ARE fairly sagacious bust
ness men," Tie four men who have made
SO much money by manipulating railroads
and politics do not even pay their taxes, but
they do dictate who shall hold all of our
Offices.
If frauds are committed by the men their
money has assisted to place in Office and an
effort is made to punish them the chances
are as ten to one that the railroad company
or some Of their employees will help them TO
escape. There is not an interest IN California
which has not or is not now suffering from
the wrongs put upon us by the railroad
company. Every description Of roperty is
taxed excessively by the miscreants whom
the railroads have helped to place in office.
The public has scarcely realized what was
the effect Of permitting three or four men to
fill all Of our important Offices in the State,
but IL IS ~ fair way 10 do so.