Union County courier. [volume] (Elk Point, Union County, D.T. [S.D.]) 187?-1913, 1897-01-28

Will Not Reduce the Passenger Rate.
The Illinois state board of railroad
and warehouse and commissioners has
decided, after careful and thorough
Investigation of the railroad business
in this state to vote against the pro-
posed reduction of the passage rate
from 3 cents to 2 cents per mile. AS
this report is based upon accurate data
from official sources, it is safe to as
sumo that the present legislature will
not care to ignore recommendation
made by those who are not authorized
by the state to propect The interests of
the people and at the same time to deal
justly with railway interests.
While it is important that the people
should enjoy the benefits of the cheap
est transportation that is consistent
with good servive, any legislation that
is calculated to cripple the earning
power of the railway to the extent
that they will fail to yield fair return
upon the invested capital is clearly OPP
posed to public policy. 1t is conceded
by those WHO are familiar with the
history of railroading for the past
twenty years that the railroads have
been the heaviest sufferers from the
widespread and often unreasonable
honesty OF corporations. They have
been seriously embarrassed by an
avalanche OF unfriendly bucolic legisla-
ton in many western states, when they
were struck by the panic and the
Wilson-Gorman tariff law of 1894.
The last three years has witnessed a
desperate struggle for existance on the
part Of most of the western railways.
/ According to the report of the inter-
state commerce commission for the
year ending June 80, 1895, the railroad
companies of the United States lost in
their operations the enormous sums OF
s29,S45, 24l. Seventy per cent of the
stock failed to pay dividends and there
was default in the payments Of interest
on II per cent Of outstanding bonds.
The twenty-fifth annual report of the
Illinois railroad and warehouse com
missioners, recently submitted 70 the
governor, showed that the Illinois lines
had suffered heavy losses from the
business depression and financial un-
certainty of the year. The report
shows that only sixteen OF the forty
five roads operating in Illinois paid
any dividends and that there was net
deficit for the year Of $7,SO3,544. The
passenger department shows de.
Crease from last year OF S5, 1858, OF
1886 per cent In the receipts from
passengers, the ACREAGE passenger rate
per mile being n cents.
1t is possible that some OF the big
trunk lines might stand the proposed
reduction, but 1t must be born in mind
that much OF the railroad property in
Illinois is branch mileage, and any re-
duction in fare would inevitably result
in enrichment OF transportation fac
ilities that would ne inimical to the
interests Of the travelling public.
AS q matter OF fact there is no pop
ular demand for reduced railway fares
at the present time. After three years
of disastrous depression the railways
are struggling to get q new lease Of life
under an administration that gives prom
Use Of . revival Of prosperity In all the
productive industries. The public In
terest would not be promoted by re-
ducing the resources Of the railways at
this time.