The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1898-03-18


tons.
Caldwell directed the clerk to make the
same entry of the vote in each case.
The judgment proposed by Mr.. Pear
son for the Raleign and Augusta and
for the Seaboard and Roanoke were ex-
actly the same in form as the above
judgment for the Raleigh and Castor.
substituting the following figures liz
each case:
Raleigh and AuguSta-AESessed value,
81 ,260, 695; net earnings, sos, PA; re-
ductiOn, SIS, 06S; leaving net earnings
still, $50, 205; excess of 4 per cent, $780,
III.
Seaboard and Roan0ke-AkseSsed
value, ,015; net earnings. S1S0.O37;
reduction, $l1 1881; leaving net earn
ings STILL $l6S.552; excess of per cent
$149,591.
For the other roads slightly differ
emit form was used. 1t will be noticed
in the following for the North Carolina
Railroad division of the Southern ref
erence lis made to the failure to make
report of salaries and number of passes:
In re Passenger Rates North Carolina
Railroad Company.
The Commission last July assessed
the value of the entire property of the
North Carolina Railroad Company at
So, 1T .233, as it's true value" as requir-
ed by the law. Its officers appeared and
strenuously insisted that said sum was
more than the true value of all its
property. The report of said North Car
DINA Railroad Company for the year
ending June Both 1897, shows that its
net earnings were $443, 445.14 The
reduction of passenger rates to 2b
cents is not over all its bust
ness but only ON its passenger bust
ness and not on all its
passenger business. but only on
that done in this State. The
reduction will therefore be only about
S159,215.05 Cf there was nothing to
make up for the reduction in price)
leaving still 1884 ,230, net earnings which
is $159, 541 90 in excess of 4 per cent OH
the true value. to which point numerous
decisions of the Supreme court of Uni
ted States would authorize the Commits
sion to reduce rates.
But we are of the opinion that even
this reduction can be more than made
good:
/. By the increased travel induced
by reasonable rates more in accordance
with the reduced prices of products and
labor and the enhanced value of money.
2 BY observance of the law forbid
ding the use of free passes by all others
than railroad officers and employees.
The number of these Illegal favOrs are
so great that this company has refused
TO report the number.
5. BY the reduction of salaries which
are so large that this company has re-
fused to report them.
Now. therefore. it is ordered that the
exceptions of North Carolina Railroad
to the passenger rates established by the
Commission on the 23rd day of Febru.
airy, 1898, are Over-ruled
The other judgments. with the fol-
lowing figures inserted in each case at
the proper places. are exactly like the
above for the North Carolina Railroad.
Norfolk and Carolina Railroads.
sessed value, $959,617; net earnings.
S124,017; reduction. $12,206; leaving
net still, Sill, S11; excess of per cent,
$73, 426.
Wilmington and Weldon Railroad
main line and wilson and Fayetteville,
Branch-Assessed value, 1896, 527,
net earnings, $500, 1893; reduction, STAT.
623;x leaving net still, $672,574; excess of
4 per cent, $617,953
Petersburg Railroad-Assessed valnc,
S115,3S1: net earnings, $50. 800: reduc-
lion, $3.50; leaving net still, $30,39S;
excess of 4 per cent, S25.7S3.
Atlantic, Tennessee, Ohio, Piedmont,
Northwestern North Carolina Railroad,
Western North Carolina Railroad and
Charlotte, Columbia and Augusta of the
Southern Railway-Assessed value, $4,.
912.437; net earnings. $3.50, 461 SO; re-
duction. $1JS.S79; leaving net still.
S791 $50; excess of per cent, $685., 0S5.
ATLANTA and Charlotte Air I4ine--AS-
sessed value. $645, 525: net earnings. $G4,-
1896; reduction, $50. 7G6; leaving net
still, $333,353; excess of per cent ST.
So.
Pearson said his figures were made npI
from the records and called Clerk Brown
TO prove this. Clerk Brown said it was
true. but that while the railways re- |
ported net earnings, they didn't deduct |
from these interest or funded debt, &c.
Pearson then said he desired to sub
NIT n few remarks, and said that the
three great railway systems in North
Carolina were notified to appear Janu-
airy 2Sth. and show cause why n deduc-
ton in rates should not be made hut
that these answers, then few, were from
cacn WnOle system, ana rcTCffeu TO eacl
separate line. they then saying they
were not able to separate intra-State
earnings from Interstate. but that
since the decision of the United States
Supreme court in the Nebraska case,
they show no difficulty in showing the
business within and without the State
They have had their day in court
There is no disposition on my part to re-
tard railway progress, but ] feel that the
people have some rights in connection
with the common carriers. The low
average of - cents per mile, which the
railways exhibit is due to the low inter
State rates. There is no evidence of any
reduction in passenger rates in this
State since the Commission was organ
lied and no evidence of any increase in
wages of employees, but on the contrary
one system made 10 per cent. cut three
years ago. and it has not been restored.
Commissioner Pearson stated that
when the reduction of rates was made
February u. Caldwell wanted it to go
into effect at once, while Pearson
thought about April LIST proper time,
so as to give the railways about six
weeks Caldwell objected to this and