Phillipsburg herald. [volume] (Phillipsburg, Kan.) 1882-1905, 1898-10-13
Q. what is the stoek yards LAW?

A. The Populist party IN the 1891 Leg
islature,
@. Are there any public stock yards
In the State to which this law applies!
A. Yes, the one at Kansas City
Y. What reduction did the law make
in yardage charges?
a. 1t reduced the charges for cattle
from % to Is cents head, calves from
10 to cents per head, hogs from to
6 cents per head and sheep from to
cents per head.
@. What reduction did it make in feed
charges?
A It eliminated the charge of 81 per
bushel for corn and 81 per hundred for
hay and provided that the company
should not charge to exceed 100 per cent.
above the market price.
O. Did the Kansas City stock yards
company comply with the provision OF
the law?
A. It did not, but went to the Federal
courts and secured temporary injunc-
ton against Attorney General Boyle en-
Joining him from prosecuting 1t for its
refusa! to obey the law.
O. What reason did it assign for not
complying with the law?
A. It alleged that the rates were not
compensatory and that it would ruin its
business.
@. What did Judge Foster do in the
matter?
A. He appointed Judge Geo. w. Clark
as a special master to take testimony as
to the cost and value of the Kansas City
stock yards, and as to the reasonable
ness of the rates fixed by law.
@. What did the special master do?
A. He proceeded to take testimony for
twenty-five days and made report
which was accepted and adopted by the
court
@. What does this special masters re-
port show?
A. First, that the Kansas City stock
yards company started out in 1871 with
a capital stock Of $4,000 paid in cash;
second that up to February l, 1897, 1t
had expended upon the plant cash to the
amount of $2,4S4,5 third, that dur
ing this time it had drawn out cash to
the amount of 81 ,660,976; fourth, that it
had watered it's stock from time to time
until ii had outstanding stock to the
amount of $7,36S,650; fifth, that it's pres
ent value is S53SS, 003.25.
q. Does the report Of the master show
that from an investment Of only $4,000
plant, has expended $24S4 500, divided
in cash nearly two millions and a half
and still has property worth over S5,
100000 upon which it is asking the stock
Taisers to pay revenue?
A. 1t certainly does.
Q. Whose money built up this tremen-
dous business?
A. The money of the men who ship to
the Kansas City stock yards.
G. What does the masters report
show in regard to the profits of the BUSH
ness for 1896?
A. First, that the total receipts were
&1,012, 271.22; second, that the total dis
bursements were 1866, 712.49, leaving a
net income for the year of $646,55S73.
@. What per cent. Of profit would this
be on the capital stock?
A. The masters report finds that it
would be 1886 per cent, but as nearly
$5,000,000 of this stock represents moth
ing but water, the actual return is about
40 per cent.
O. What does the master find that the
profits of the concern would have been
in the year 1896 had the Legislative rates
been in force?
A. $345, 90696. A rate per cent. Of 1893.
be for the year?
A. $3O0,65177.
O.. To whom would this saving be
made?
A. To the stock raisers who ship to
the Kansas City stock yards.
Q, How would the business for 1897
compare with that of 1896?
A. The twenty-seventh annual report
of the company, for the year ending De-
cember 81, 1897, shows that more cat
tie, more hogs more calves and more
sheep were handled in the yards in 1897
than ever before, and that the business
Of the yards is growing. So that this
one saving made by the Legislature will
annually exceed 100000
Y. What per cent. of the stock han
died in the Kansas City stock yar6s
comes from Kansas?
A. About 60 per cent.
Z. What has been the result Of the lit
Jgation so far?
A. Judge Foster sustained the law In
every particular. The company then
carried the matter before Judge Thayer
who also sustained the law in every par
ticular, and it has now taken an ap-
peal to the Supreme Court of the United
States. where it will probably be heard
next January.
Y. What provision has been made tc
protect the interests of the shipper in
the meantime?
A. The court, at the request of Attor.
ney General Boyle, has required the
stock yards company to enter into bonds
to return to every shipper the excess
charges over and above the law that he
may be required to pay during the pend
ancy Of the suit, provided of course, the
law is upheld by the Supreme court o.
the United States.
Q. What does this mean to the ship
per?
A. 1t means that the company will b.
required to refund upwards of 100000
excess charges taken during the year!
1897 and 1898 from the shippers, anC
that nearly 100000 of this will com,
to the shippers of Kansas
Q. What are some of the results tina
have already accrued to the shippers
A. The company has made a partia
compliance with the law by making
reduction on feed charges and on SOM
yardage charges.
Q. What else has this litigation done