The Waco evening news. [volume] (Waco, Tex.) 1891-1894, 1892-05-11
". K. FINKS & co

Is hand to keep 1t from falling must
stricken dead like Uzzah, who put
rth his hand when the oxen shook
10 ark Of God.
| believe that we have the best
! bmmission yet adopted 10y any of the
bates. Time will show its weak
laces, which will be strengthened;
will be shorn of it's injustice and
endered as effective as such means
control can be made.
wATERED STOCKS AND BONDS.
There is one point, not embraced in
our inquiry, to which | venture a
ew suggestions. Is the public inter
sted in having the water and wind
2queezed out of railroad securities?
IS for my part, cannot see that the
mount of Indebtedness of a road
4 hould any more determine the rates
J. 10 be charged by it than the mort
Rage on the land should control the
armers wheat,
II the United States supreme court
uould finally hold, as some seem to
ear, that road must be permitted
% charge such rates as VIII pay the
interest on the bOIred debt, whether
fictitious or not, and leave something
or the stockholders, then it becomes
5ital that the state see that all the
utnre bonds and stocks be issued in
trict compliance with law and be
rec from all action. The decisions of
he supreme court, however, point to
he final conclusion that a railroad,
ike other citizens, shall be permitted
o earn a reasonable interest on its i'll
7ested capital. This is almost the
language used by it in the Minnesota
iase.
i have labored for q commission as
IN agency to investigate and deter
mine the rates which ought to be
charged to yield this reasonable re-
turn. should have despaired of its
9.uccess, but l thought it could not
disregard the Indebtedness of the
I'oads, Believing that the platform
promulgated by the state democracy
Iwere the expressions of it's honest con-
|yictions, and as indicated by the SUI
|preme courG of the United States, that
IA railroad was only entitled to a
reasonable return on its invested cap
|ital, offered as On amendment to the
commission act, when under consid-
|eration, the following:
The reasonable rates and charges
of railroad shall be such rates and
charges as will yield u fair intere on
the capital actually invested IN it,
and all rates and charges levied for
the purpose or on the basis of paying
interest, charges or dividends on fic-
titlous bonds, stocks or indebtedness
shall be deemed to be unreasonable
and unjust"
This is the platform adopted at Dali
las in 1888, in legislative form. 1t was
opposed and defeated by those in
charge of the administration measure.
If 1t had been incorporated in the law
and made the guide of the commission
it would have most etTectually
squeezed the water from the bonds
and stocks, but would lickewise have
squeezed very prominent issue out
of this campaign.
If the people discover that thosef
whom they trust are in the habit o
opposing measures and the settlement
of questions that they may be post
poned to serve as platforms for their
candidacy for office, the retribution
viii be sure and swift
1 write this letter and comply with
your request solely that justice be
done the legislature and the friends
of commission who did not yield to
ihe demands Of the executive. Yours
very truly, CONE JOHNSON.
Drink Coca Cola at w. l.. fuckers,