Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1893-03-27
The Opinion Of Vice-President
How Of the Wabash,
FROM GALVESTON TO DULUTH.
Yanklon, NorIok and Southwestern Scheme.
The Rock lsland--BeIl Cords Abolished.
Tank HOse-0Iher Railroad News
Of Interest
THE RAILROAD SIDE.

There are two distinct sides to the
general charges Of rapacity made against
railroads. The side sldust them Is cease
lcssly and often unreasonably mnle
through every possible channel, but the
railroad side Is very seldom heard. The
cause OF this silence has been largely
the hopclCssness of convincing the nc
cusers of their false positions and also
because channels of spreading iniUrmg
ton are often closed 10 railroad officials.
Yice-President How, of the Wabash.
will ably champion the railroad side IN
the next issue Of the Railway Age. In
part he says:
When Il Is asserted that railroad corpo
radons are earning dividends on watered
capital let hgures be produced, as they
can be- showing that but little watered
capital exists aud that the total actual
capital invested In the railroads of this
country Is paying about 3 per cent and
that the stock Of a large proportion OF
the roads Of this country Is yielding
no return to It's holders. Meet the gen
erGl accusation that the railroads are
paying less than their proportion OF the
taxes of the country with copies OF
official records from the different states
aud counties, showing In many cases tbat
general property Is not paying taxes on
one-h0lf of It's actual sulable value. while
railroads are paying on what Is consid'
cred full cash estimate.
Show that In Indiana. where the au-
thoritics are sworn TO, aud claim that
they do nssoss railroad property at its
full cash value the assessed valuation OF
real estate IS as has been shown to them
By figures taken from the official record
of county after county. fixed at less than
60 per cent of the valuation, named IN
the deeds conveying that same property;
| that In Illinois. whore the board OF equal
| iZatiOn has publicly adopted the rule as
I shown by their records, Of assessing
! property ut % per cent of It's full value,
| railroad equipment IL valued at one
! half Of what would be It's value III new.
/ and, taking into consideration the fact
/ that the assessment covers equipment
! which has been in use an average Of
/ from ten 10 fifteen years the valuation
/ placed on IL rs equal 10 the full amount
that could be realized from IL II sold
today; that In Michigan the values of
| railroads are fixed Oh n basis of their
I gross earnings without regard 10 the
| fact that In some cases, on account of
the physical condition Of the property,
excessive expenses may greatly reduce
I the net earnings, or competitive rates
| may leave but scunt margin between
gross earnings ard operating expenses
| and also regardless Of the fact that the
earnings of no other corporation, manu-
| facturer or individual IL considered In
valuing their property for taNnuoni
show that similar or equally uniusi
condition Of affairs IL regard to railroad
taxation generally exists.
Let the public camor which charges
railroad management with an attempt
10 put onerous rates on the Transports
ton of freight and passengers be answer
ed by facts and figures showing the
yearly dowJward tendency of charges
for such services. Meet every assault
with an array Of evidence showing how
groundless Is the foundation upon which
the charges are based, Let the railroad
champions be as vigorous and outspoker
In support Of their cause as their oppO
nents are aud have been against them
Let them try TO defcuN no wrong, but
assert their rights IN the bOldcst anC
most open manner. The effect of sucl
course may be slow IA reaching ftui
ton First attempts will necessarily
yield unsatisfactory results The rail
roads have remained silent so long undc
the flood Of caumny that they have suf
fered, TINT IL will take lorG aud con
slant labor 10 free them from It's results
but slowly aud surely the community
win learn that they have lahored nde
convictions uniustihed and illiberal, anC
the great sentiment of the American PEG
pie In favor Of fair play 20 all will even
tunlly assure 90 the railroads their right
and give them the same protection &C
corded TO other citizens of our govern
ment.