The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1898-11-25
The Future of Our Railways


country has worked itself out and that
opportunities for large ventures in rail-
road building have ceased. what is to
be the future of the railway business
in America? A subject of such mag
nitude which affects so directly and
materially the general prosperity cam
not be answered Oft hand. but VIC are
Impressed by some opinions recently
offered concerning this matter by that
enterprising and far-sighted railroader,
President NJ. r. ingalls,.
In his judgment some plan must be
adopted to increase the ownership in
railways by persons residing along
their lines. Greater permanence must
be given to the condition and owner
ship of railways. 1T would" says he,
"he a great step if we could adopt the
English method and create debentures
that there should be no foreclosure for
nOn-payment of interest. Such thing
as foreclosure of u railway in England
is unknown. If the interest is not paid
upon the debentures there may be IL
receiver of the profits. but the stock
holder still holds his interest in the
property. Here. with our system of
bonds, if there come a few bad years
when the interest is defaulted, the
hondholder takes possession and sells
it under his mortgage, the interest of
the stockholder is eXtinguished, and
when prosperity returns he has lost his
opportunity to get his share of it. This
makes the possession of railway stocks
speculative and uncertain; in fact, for
years they have been more subject to
ass assments than to the receipt Of div
idends. If our form of mortgage could
be changed to that of the English de-
| benturc it would stop the immense
number of reorganizations and would
prevent values being wiped out in
times ot panic, and would encourage
investment by the people in the securi-
ties of these enterprises; for, after all,
that is the real improvement that is
TO come"
Other suggestions of value are Of
fered by President ingalls,. The rail-
way officials themselves, he believes,
must be taught to conduct their busi-
ness with care and with due respect
to the rights of the people. Their ac-
tions must not be secret. but above
| board and open to the public. There
must be but one rate 20 everybody,
| and that must be reasonable. and the
Legislature must provide remedies by
which railway officials can agree with
| each other on these rates and their
contracts can be enforced. Passenger
rates, he thinks, need revision. I'VE
| charge" says he, 1.-THE same for the
man who rides in the palace car and
| for whom the railway has to haul two
| tons of dead weight, as we do for the
man who rides in the ordinary coach,
and for whom only One-half a ton of
| dead weight is hauled. We charge
practically the same for the passenger
| who is carried sixty miles an hour on
the fast and expensive train as we do
| for tho passenger upon the slow and
| less expensive train. These rates
should he changed and graded" Above
| all, in President ingalls, Judgment a
better understanding must be arrived
| at with the vast army of railway en-
| ployes. They must have greater in
terest in the success of the railways
| and they must be a part of the power
| that will produce better understand
| ing with the communities which the
| railways serve. This must be done by
| system OF hospitals, pensions and
| profit sharing.
AS to material changes, Mr.. ingalls,
| predicts electric locomotion, higher
| speed and cheaper trains, but foresees
| that railway construction must here
after consist largely of branch lines
acting as feeders to the large systems
now in vogue. Speaking broadly, he
concludes most interesting interview
| in the Washington Star with these
words: This country win soon have
1OC OOO, ,OOO OF people. 1t will require at
least $4,000 miles Of railways to serve
them properly-an increase Of 40 per
cent, over the present mileage. They
cannoe be built, they cannot be inn
proved and increased with the pres
ent system of legislation and with the
| present prejudice against them. The
development of the country demands
that this must be changed. In the CEN
turtles that have gone the youth of
the various countries sought fame and
| preferment in war and its accompani-
ments. We live in better days and in
a higher civilization, but the service
of our railways offers a wider field for
achievement and for fame than any
! thing of old. The road TO success in
this line is not through carnage and
suffering, but ii is none the less sure,
and requires equally moral courage
and intelligence. A new evangel must
be preached in reference to railways.
| They must be placed upon a higher
order and instead of being pariahs in
business they must he the benefactors
and friends of ALL"
Brave old Joe Wheeler is not bit
disturbed by the arguments of the
anti-eXpansionists. Says he: II don't
think the great men of a century ago
who laid down the rules for the con-
duct of our government would repeat
their recommendations If they lived
today. In the days Of Monroe, Jetfer-
son and Madison we were not the pro-
ducing nation we are today. We must
reach the markets of the world with
our products, and / believe the gov
ernment will now most wisely solve
| tI,a vrohIafa Iafopa NE ~.