New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1894-08-11
OpEV THE RAILROAD hooks.

isn't II about time for railway managers IN
this country particularly The managers of West
ern railways 10 look existing conditions fairly
and sGuarcly in the face; Not the physical and
financial conditions Of The properties they ar"
handling-ihcsc. unfortunately for everybody in
,erested In them are So glaring that they can
not be eyadcd or concealed but III" conditions
surrounding the managers themselves in their
relations with their stockholders and win IN"
general public They can hardly help knowing
that railway management stands dsrrrdlt'u To-
day no, ONLY I'm This country but wherever our
railroad securities have found market III"
corrp,ions Of politics and dishonest practices Of
professional politicians are always In evidence
~ texts for mora-is and warnings TO honest
voters: but in Juggling with figures ana 'angiinS
Of facts in dcc"itful methods. Intriguing par-
iices. trickcry trcachcry and fasehood, II really
looks as II many modern railway manager
could give the professional politicians n great
many points is this Il sweeping statement:
VIII some railway manager who feels his per
sonal honor called in question by ii rise NJ ana
dispute II? Let him reflect for moment. before
protesting against The association and The com
parison, that the most pcrniciOu> activities Of
the professional politician exercised in lcgis-
latiye Hobbies, and ask himself who keeps him
There, whose instrument he Is. who plans his
work and lays ont his campaign. good many
professional politicians have been found ont
lately Some Of them are sagaciouS enough 10
see that they are discrcditcd and their methods
disapprOved. and are stepping aside. Ii X
question whether the gentlemen who have 50
long been playing pitch and toss with other
peoples property cheating each other and The
public In the game. bcdevilling accounts and
rigging the stock market. have equal sagacly
They are AZ The parting Of the ways The
Atchson exposures revealed nothing that WAS
new to railway managers. startling rs ;hcy were
10 investors In railway securities Though not
susceptible of proof. II was known among rail
road men five years ago that the Atchison pco-
pie were handling long haul traffic In compcti
ton with other roads, upon which there not only
could not by any possibility be a profit, but
for which, upon any reasonable adjustment OF
rates with connecting roads, the company could
not get any return. II was believed that while
an enormous traffic was built up. which ap-
peared in the accounts Of The company as hay
ing paid regular rates system Of rebates had
been agreed upon with shippers under which
the entire amount was refunded, the praccss
being concealed by some ingenious trick Of book
keeping in the company's offices. The company
was passing through a process Of reorganlzn
ton. and had large volume Of new securities
to be foated. The purpose Of this remarkable
business proceeding Ito make Il record
upon which this could be done The mystery
about II has been how this could be done and
kept up for four or five years without coming
to the knowledge Of the sccuriiy-hoders. II now
appears that there was convenient surplus
account"
These things are not done without the knowl