The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1897-02-23

President CDR. Norvin Green, who ad-
mitted he received a salary of 800, OOOl
it appeared that their corporation,
which TO- has a capital stock of $780,
600, 900, on which it pays 6 to 8 per
cent. dividends has never paid into it's
treasury by stockholders but $44O, 600,
less than one half million; while the,
other $119, 500, 900, it's annual dividends
paid out to stockholders, have been
collected out of the people by It's ex~
eessive charges. This certainly iusti~
des this State IN demanding an abate--
ment Of such tolls.
The Bell Telephone Go, has almost a
parallel record. Itpays its President
$50, 600 per year and has accumulated
over 100 per cent. annual dividends
added TO it's capital stock, besides the
dividends to stockholders, The n
nual report Of the parent Bell Company
for 1895 shows net profits of So, 1872. 685
on gross receipts of 81, 848, 245, almost
70 per cent.
According to the New York World
at rates of $50 a year, the profits of the
Bell Company in New York City were.
497 per cent. in five years, nearly 100
per cent. per year. The Home Tele~
phone Company, of Mobile, Alabama
earned Is per cent. net on rates of $50
and $50 a year and are now earning 25
per cent. though the Bell Company has
reduced rates from $50 to $3.50 a year,
down to $12 a year.
The rates for kilograms in Europe
average ten cents for 90 words, and in
! many countries annual rentals of tele-
phones is S., as in Switzerland and
also in Paraguay and South America.
When rates are high enough in this
country to be making millionaires Of
corporation owners and enormous sal
aries to corporation Cficials, the peo-
! pie who are taxed to pay them, are en-
titled at our hands to have us exercise
| the power the U. S. Supreme Court
decided is vested in us of reducing
charges by those corporations. The
people have long been FESTIVE under
the iegue of free passes to public off
Gals and a Difference to their will de-
mands that this evil should be stopped
because every free pass must be and is
! paid by, some n who pays for his
pass.
A section creating the Railroad Com
mission was understood at the time Of
its passage to prohibit free passes, but
the Railroad Commission not having
so construed it, unmistakable laws
should now be passed to prohibit this
evil. The railroads could not turn q
wheel or move a car but with money
collected out of the people.
To continue the present system is to-
provide an Office holding a~ristocracy
who ride free at an added expense to
their constituents. There is less excuse
for members Of the Legislature to ride
on free passes as they are paid 10 cents
per mile by the State, each way.
The provisions for the keeping a list
of free passes to those not Office. holders
is a safeguard to prevent abuse. The
increase in the value Of money by the
addition of the gold standard has
greatly increased the rates of Railroads,
Telephones and Tolegraphs which are
and remain as high as they were when
farmers got from 10 to 13 cents q
pound for cotton, and 81 so to 50 90 for
wheat and 81. 90 for corn. The men
who own and control these corpora
tions are the very men who have
brought this country to the gold stand
ard. These necessary institutions Of
civilization are now practically 9
stricted to the use Of the rich and dead
head officials except in cases Of emer-
gency and necessity.
To reduce their charges somewhat In
proportion to the rise in the value Of
money and the corresponding decline
in prices in produce and labor, would
be just to them and would again throw
open the uses of these great convenien-
cies to the public at large as should be
the a g
The majority Of the committee, after
hearing the arguments of the railroad,
telegraph and telephone lawyers
against the bill, declined to hear the
undersigned (HaUser in favor Of the
bills after agreeing to do so. Even r.
R. Commissioner s. Ohio Wilson came
before the committee purposely to balk
and defeat the bill by saying the r. Rs
could not live at 2 and II cents per"
mile and after that acknowledged that,
the average now Was only 2 1 5 cents
per mile.
These are some of the reasons we