Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1896-04-29

| communstlc In sentiment and NJ utter
" without respect for the rights Of
| property To this day the business In
teresta OF Texas feel the eyIl effects OF
that campaign OF slander At last
| however, II Is dawning upon the minds
OF the monied interests Of the east
that there was something at the bot
tom OF that campaign besides benev-
oient desire to protect their invest
nents They are now beginning to
understand that they were worked
most dexterousiy for fat campaign
fund. and that the racket they heard
was raised to swell the amount OF
their contributions.
Every person who took part on either
side In that contest. In candor and sim
certify. should read and consider a
leading editorial from the current num-
Der (Aprll 23 OF the Engineering News
and American Railway journal, a rep
resentatIve exponent or railway Inter-
ests published In New York City. II
IL a lvuggestlye coincidence that the
Ieaders Of the na,i-commisslon fight.
Judge Clark. Mr.. Mcdonald and others.
are the leaders OF the gold campaign IN
Texas and that they are using in sub
stance the same arguments against
silver that they employed against the
commission. Where can be found
propto cts more discredlted than they?
The following is tho editorial OF the
Engineering News and American Rail-
way journal;
THE WORK OF THE TEXAS STATE
RAILWAY COMMISSION.
The state OF Texas has for some time
enjoyed an unenvlabie reputation for
ita treatment OF the railway companies
operating within It's borders During
the decade ending In 1890. the state
building operations. Every town and
city OF any size wGs eager for railway
lInes. The real estate boomers and the
railway promoters had things their
own way and state railway CON
troll was ignored; but with the end of
the aeason Of reckless railway con-
Ftruction, new element got the upper
hand, and Texas for a season bid fair
10 rival the work OF the granger states
OF the Northwest dozen years earlier
In the extremity OF the measures which
Il was proposed to take In the contro-
Versy OF the People W.. the Railways.
II IL partly the attacks upon tho rail-
ways by politicians and public speak
crs during this era, and partly the
Misrepresentation Of the real attitude
OF Texas toward the railways that have
given the state It's bad name In this
matter
As matter Of fact after careful
examination OF the last report of tho
Texna railway commission, we Nre con-
strained to believe TINT this bad name
Is undeHerved, IF the attitude OF the
state toward the railways Is correctly
| yet forth In the commissions report,
we are free to say that the position ~
economically and politically correct.
aud hat othNr states and state rail-
way commissions can prontnbly study
the work that has been done In Texas.
II may be said at the outset. that
the Texas commission has attempted
task which has never been attempted
before anywhere. and that Ia TO base
railway rates upon the cost Of service.
the railways are entitled 20 charge
| ratcs hiRh enough to return fur
| rate OF Interest on the actual value OF
their property. and no higher By
value In meant not the par value OF
| outstanding stocks and bonds, nor the
amount Of money which haa been actu-
ally spent and charged to capital ao-
count. but II Is what the entire plant
| OF tho railway company could be du-
plicated for Mt the present time
That this principle Is a sound and
safe one. and equitable TO both the
! railways and tho public. all careful stu
dents Of the railway problem will gen
orally agree That the Texas commits
| sion 10 willing 10 adhere to It and carry
| IL out impartlally the following extract
from its report bears Witness,
While It Is the duty OF this commits
sion, NJ far rs II has the power TO do
1 so, BY It's rates and rulings, 10 nrn-
| teot the public against discrimination
in rates and service between shippers.
and against excessive freight charges.
| It IL equally Its duty 20 establish and
maintain such ratch as will secure to
the railway corporations proper re-
turn OF interest on the capital Invest
ed. II tho conditions OF the roads with
| reference TO population and business
VIII enable II to do 30. And it would
rot hcsitRtc, II It should be shown 10
be necessary. to Increase rates for this
! purpose, This commission has often
stated TO the freight agents and traffic
managers In ita meetings With them
that n the railway companies engaged
ia interstate shipment would make and
maintain rates which would he fairly
compensatory to them on such ship
ments. this commission would do all in
Its power by its rates. to secure thom
/ reasonable revenue on their railway In
vostments In this state. And we now
repeat that statement. But this sug-
gcFtlon contcmplntes good faith on
both sides In the making and mainte-
nance OF rates.
That tho principles above stated have
been carried out IN practice. as far as
the commission IL concerned. appears
10 be shown by the figures IN the re-
port. and Ills stated that notwithstand-
ing the important reductions In freight
rates (somu OF which were made by re-
quest OF tho railway companieH) tho
! returns show an Increase In revenue.
Rates are not always lowered by the
commission, but In some cases are as
high as or higher than those which
were In force before the railways were
subject to regulation This has been
on account OF the necessity OF preaery-
ms rates which have long been In force
,. On account OF competition or other To-
cal conditions These cases are quite
limited In number. There has been
atendy increase In both gross and net
earnings per mile In rexaa, as compar@
ed with the equally steady decrease
for the whole United States.
Tho valuation OF the railways as in
stituted by the commission WAS niliv
described In our isaue OF March 7, 1856.
ana the present report states that OF
AZ railways thus valued tho net earn
ings for 1885 were 7.4ig per cent on Tho
80 N''ef