The times. [volume] (Richmond, Va.) 1890-1903, 1892-01-24

The Merits Of tho Kent Bin Argued Before
tho Committee-Posfpone

tho
The House Committee On Roads and Inter-
nal Navigation held another meeting yesterday
morning with Chairman John +. Ryan as presi-
ding officer A committee from the ChamberO II
Commerce WAS IN attendance 70 advocate the
passage OF the Railroad Commission biii in
troduced by Mr. 4. c. Kent, u Wythe.
Among those present were Messrs. s.
W. fravers John K. West. james
d. Crump :. G. Crensbaw. j.. O.. Leigh, etc
Mr. J. Randolph Tucker. Jr.. counsel Tor the
Chamber OF Commerce made a lengthy argu-
ment in favor OF the bill which took up tie
whole morning. until the members had T.
leave 20 attend the session OF the House He
quoted from the reports OF railroad minis
si0uers q Georgia. Illinois and Missouri. who
were all IN favor OF the passage Of such % b.ll
lie thought the only possible object
against the bill could be raised II the Rail-
road Commission should decide that certain
railroad company should adopt lower
freight rates for certain classes ~ freight
cattle for instance. The decision OF tie
commission being considered pflma facla r.
rect the company would be compelled %
obey orders until final decision in the courts
should be reached II this decision should
be IN favor Of the company then tie latter
would be ont Of pocket the difference fe-
tween the two rates until the decision * the
court had been rendered
Mr. Kent stated that IN framing the bill
this matter had given him the greatest tr0u-
bic and 20 had finally decided on provision
which says that II the commission determines
on "a lower rate notice shaft be given 20 t..8
company that such change should be made
Wit in reasonable time say within thirty
days Within that time any company could
secure redress IN the CAancery Court of Rich
mond and decision could Oe reached be-
tore the time stipulated Tor the change bal
arrived.
. hot I,l1 4 .f.fa fr.a. e.
the creation of a railroad commission IN tlis
State would increase railroad service. but l1
other States the service had proven Oh e .5
octive inter an eSta olisnmeut OF % cOmmss
as before. During the first nine months ot
1850. about Is year after the railroad c1Mm.,-
sion had been created IN Georgia, tuA. 0iAte
was i'm the lead iu tae nitet states in regard
fo the LAYING OK new tracks. DE rr gi
companies wore opposed % the OIL .r tne
reason that they DAD not want any restrictive
legislation. because their earnings were
sra Ter than those Of most oi the olneI s"f
of business lhe rep IT'S oil the inlft Its
Commerce Commission since lts e,ti
mont showed that the railr ais Oh tae h..'l
states averaged q net earning OF lrf
ce.t. Tie capital aggregated r.'a
billions of dollars but they c.aIur
that al the existing roads could eduplca-al
for much less than one-half OK that amount.
the actuM cost being about four iil"ots Ot
dollars The difference between the $50
e,oo',uts was what they called BOB courtesy ar-
preciation of values. but what in iaet WAS
watering of the stock. The compaa.as
claim - earn only B per cent. on tAe n.ns
billions. whiethey actually carmel pD-
cent. on tie amount Of money invested. Tie
assertion that the charges for freight ou
tho roads of Virginia were as l.w
r not lower thaa in aay other state
of the Union was misleading because tic
principal roads IN tas State get tie larg
part f their tonnage from the products 90.
MINES. and while the fro -lt charges ga ores.
coal. iron. etc.. were low, tho rates ou agr.
cultural products. which were about per
cent of the total tonnage, were open 70 cfit-
Cism.
4 number of gentlemen were anxious 60
be- heard I'M opposition 10 the passage ~ the
bill. but owing o. the lack Of time they wore
requested 20 appear leilIe the comAittes
next Tuesday evening