The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1894-11-22
Supervision of Railroads.

The Hazleton Sentinel has evolved
what it think Is at least the ground
work of a basis of permanent improve
ment for the coal trade. The Sentineps
plan is divided into four parts, as fol-
lows:
First-The regulation OF the elections of
railway officials so that such elections will
be free and open and represent directly
and fairly the wishes and interests of the
security holders
Second-The creation of a state bureau
of inspection and control and bureau of
publicity providing for the regular pub
lication of certified reports showing fully
and accurately the earnings, expenses,
acts of directors and all business results
which affect the value of corporate prop
erty.
Third-Making each violation of the law
by any. act of usurpation or wilful mis-
management u crime entailing imprison-
ment and requiring state officials to in
stitute and conduct prosecutions for such
offenses.
Fourth-Providing for a thorough revi-
sion of the system of appointing receivers
and making any president or director Of
any defaulting combination ineligible TO
the place of receiver.
every evil of the coal trade" in
the Sentiners opinion, "can be traced to
dishonesty and incompetency of the big
roads that virtually control the trade. "
Consequently, the fancied need of addi-
tional supervision from state or federal
authority, upon the supposition that
| roads under added surveillance will nee
essarily increase in honesty and fair
| ness. We are inclined to doubt the
Sentinel's premise, so far as 1t concerns
the anthracite situation; for the rail
roads primarily We're certainly not to
| blame for the oVer-competitiOn, the
slaughtered wages, the imported cheap
| labor and the subsequently vanishing
profits of the coal trade; albeit they
| may have helped these evils along.
Nevertheless, as a proposition apart
from any particular interest, the Sen
tiners suggestion contains points wor-
| thy of careful consideration. That
| there is almost criminal laXity in the
management of many railroads under
system which very frequently permits
speculative president to complete his
looting of valuable properties in the
shielded capacity of a receiver does not
| admit of dispute. We do not have
| much confidence in the notion that a
state bureau of inspection and control
would bring perceptible improvement
in this direction. State bureauX that
manage private or corporate property
| generally move with such easy methods
that their progress toward reformed
condition of affairs Is seldom startling
There Is, though, pertinency in the
suggestion that the election of railway
officials be made more public and OPEN
| an end which might be attained if these
elections were placed, for instance
within the supervision of the state de-
partment of internal affairs.
| 1t is to the interest of fair-minded
railway executives themselves, even
more than it is to the interest of the
| public, that the railway corporations OF
the country may by wise and equitable
management regain the confidence OF
] the people. If they do not soor
strengthen themselves in this essential
direction, the cause of governmental
ownership, already gaining ground de-
spite its evident impracticability. will
reach momentum that cannot bt
overcome.