The Providence news. (Providence [R.I.]) 1891-1906, 1895-05-11
AS TO FOREIGN CORPORATIONS" I"

l
AS TO FOREIGN CORPORATIONS" !"
OF all the queer, not TO say fantastic,
ideas which have floated to the top Of
the incomprehensible onslaught that
has been made with so much of hur-
rah against the city government AMI the
Union Railroad Company, nothing has
tended to so confound and amaze think
ing folk as that factor of the attack
which makes the Union Railroad an
offense because it is - foreign corpora
tion."
When anybody starts out to find
fault 1t is the disposition to
seize upon anything that comes
handy for weapon. The attacks
on the city government and the railroad
company had their inception in protest
from anarchy against what is called
"strike legislation" which aimed to
make statutory distinction between
malicious mischief and murderous
rioting. Then the transfer ticket idea
blazed into new life by reason of an
other legislative measure asked for by
the City Council. Then, on the PROPOSE
| sition Of the Common Council to buy
a piece of land for park pur-
poses from the Union Railroad,
an apparently tremendous ou,cry arose
because, the railroad company being the
seller, it was taken for granted that the
city was about to be skinned by the
otherwise innocent transaction in real
estate. Finally all this hue and cry de-
veloped into a so-called indignation
meeting, and we have been edited by
protest that was based on so many and
so varied things that it fairly wobbled
and left the mind obscure as to what
it was all about, any way.
The foreign corporation idea bobbed
up from the maelstrom, and it appears
that one of the heinous things of which
the Union Railroad Company is guilty
is that it is a foreign corporation, the
presumption being that most Of it's
stockholders and bondholders live out
side the city and State.
AS to the truth or falsity of this
charge we know nothing. And we
presume the majority of sensible persons
care nothing about it. How long is il
since this city, or any city, has stood in
opposition to the investment of foreign
money in the community? We are of |
the opinion that the foreign capitalist is
very much sought for person.
If he comes to town and sets up
an industry aud brings to the COM
munity, or furnishes work to, employees
who tenant our houses and patronze the |
grocer, and butcher, and the dry goods |
store. 1t is ordinarily matter for re-
}oicing. II he comes and resides among
US himself so much the better, but if he
chooses to dwell in New York or Lon
don he is welcome to the interest on his
investment so long as we have his plant
and his employees with US, contributing
to the taxes and buying goods of us.
Providence has always been an attractive
place for foreign corporations" and
they have helped to build up the town.
The Boston Store is foreign corpora
tion. So is the III. w. Ladd Company.
So is Shepard and Company. So is the
dorham Manufacturing Company. Ex-
Governor TAFT, if we are not mistaken,
came from out Of town to do business
here. and so did Mr.. CHARLES FLETCHER.
we could mention dozens more
men who came here from abroad and put
'apital into industries or mercantile es-
Adjustments that contribute to the pros
,erity and prestige of the town. Some ]
II the proprietOrs of them live among
Is, but the contributions that the indi-
'idual members Of the Boston Store firm,
II the big mills, or the Ladd Company
make to the wealth of the city, could be
ispensed with so. long as they left
heir plants here with their army of
mployes, and their transactions of trade !,
hat contribute to the towns prosperity. {
Is matter of fact we have no doubt
hat considerable part Of the income
l our business men is expended abroad, 7
ny way. Some of it has been wasted "
broad. Butw certainly will not COM
lain If they happen to live abr Dad ),
nd we won't ask any questions about :,
hat they do with the interest that a
ccrues from the enterprises they have
among us so long as we
ave the enterprises. The municipal lc
itself is, in sense, subject to t'
reign cooperative influence. Our bonds I"
70 sold in other cities all over the world
nd our taxpayers pay interest on them
foreigners who never return cent to
;. We are about TO redeem "a sizable