The Caucasian. (Clinton, N.C.) 188?-1913, 1898-03-24
REDUCED RATE
TO STAND.
So Decides the Railroad Commits
sion After Hearing tbs E1-
csptions Filed.
SOME FACTS AND FIGURES

SUBMITTED by tomioi>.ionrr rear-ou The
Railroad. can stand the Reduction sud
still MaI. Large Earnings on A..-.-ed
Valuation,
The Railroad Commission met Lurs-
day. After disposing OF some minor
matters the exceptions of the railways
were taken up.
Chairman Caidwell read one OF these
TO the board-that OF the Seaboard and
Roanoke division of the Seabosrd Air
Line, setting forth that the receipts
from the Old passenger rate do not
yield enough TO pay operating eX-
penses; that the effect of the reduci ion
| would be 10 take private property for
public use and force the railways TO
| operate at continued loss.
Commissioner Pearson, as each ex-
ception Was read, moved that il be
| 0ver-ruled. The motions were put by
Chairman Caldwell.
Pearson voted "sye."
Chairman Caldwell voted ave. Dr.
| Abbott, no.
| Then in succession the other excep-
lions were taken up-of the Raleigh
and Castor, Raleigh and Augusta, and
| Atlantic Coast Line and the Southern
|
| tiOn and each time there WAS the same
| vote.
Then Mr. Pearson rendered to the Com
mission the following, which he offered
as the judgment of the Commission as
| to the Seaboard and Roanoke Railway.
In re Passenger Rates Raleigh and G as
ton Railroad Company:
The Commission last July assessed
nf ha
Raleigh and CASTOR Railroad Company
at $l,562,l5 as it's true value" as re.
quired by law. Its officers appeared
and strenuously insisted that said sum
was more than the true value of all its
property. The report of the Raleigh
and CASTOR Railroad Company for the
year ending June 3Oth, 1897, shows
that its net earnings were $l49, ,lO9.O7.
The reduction of passenger rates to
| two and two and half cents is not
| over all its business but on its passenger
| business and not on all its passenger,
but only on that done in this State.
The reduction will therefore be only
| about $50, ,659.2l if there was nothing
to make up for the reduction In price }
leaving still $2l3, 3,449.S6 net earnings,
which is $l50,9G3 in excess of per
cent on the true value to which point
| the numerous decisions of the Supreme
court of the United States would auth
OriZe the Commission to reduce rates.
| But we are of the opinion that even
this reduction can be more than made
good:
l 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.
) 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 Raleigh and CASTOR Rail.
road to the passenger rates established
by the Commission on the 2lst day Oi
February, 1898, are Over-ruled.
Mr.. Pearson offered the same judg.
ments as to each of the exceptions.
The judgment proposed by Mr.. Pear.
son for the Raleigh and Augusta an(
for the Seaboard and Roanoke were
exactly the same in form as the abov.
Judgment for the Raleigh and CASTOR
substituting the following figures il
each case:
Raleigh and Augusta esset
value, 81 1,26O,695; net earnings, sos,
274; reduction, $2S,O7S; leaving ne
cent, $29,777.
SeabOard and Roanoke-A ssesse
value, $474 OILS; net earnings, $lSOO37
reduction, 81 l ,4S5.SI; leaving net earn
l ings still, $16S,552; excess Of four pc
cent, $l49,591.
: For the other roads slightly differ
ent form was used. 1t will be notice,
in the following for the North Carolin'
, Railroad division of the Southern ref
. . erence is made to the failure to max
report of salaries and number of passes
, In re Passenger Rates North Carolin
Raiload Company.
E The Commission last July assesse,
; the value of the entire property of tn
North Carolina Railroad Company a
$3,117 1888, as its 'true value" as requir
ed by the law. Its officers appeared an
d, strenuously insisted that said sum wa
: more than the true value of all it
= property. The report of said Mort
s Carolina Railroad Company for tn
year ending June 80, 1897, shows tina
it's net earnings were SAB, ,44514. Th
;, reduction of passenger rates to y
cents is not over all its business bu
J: only on that done in this Stat
f The reduction will therefore be onl
: about $l59. .215O5 (if there was nothin
y to make up for the reduction in price
E leaving still $2S4,230, net earning
! which is $159, ,541.OO in excess Of 4 pe
- - cent. on the true value, to which pOlr
u numerous decisions of the Suprem
of 49, knho he
l., ize the Commission to reduce rates.
VI But we are of the opinion that eve
n this reduction can be more than mad
good:
el l. BY the increased travel induce
a by reasonable rates more in accOrdan.
70 with the reduced prices of produc
and labor and the enhanced value
~ money.
g 2. By observance of the law forbi
ding the use of free passes by all Otl
is ers than railroad officers and emplo
n ees. The number of these illegal f
IS vors are so great that this compaI
r has refused to report the number.
3. BY the reduction Of salaries viii,
are so large that this company has T
- fused to report them.
u Now, therefore it Is ordered that t
20 exceptions of North Carolina Raiiro
lg to the passenger rates established
;h the Commission on the 23rd day
So February, 1898, are Over-ruled.
e. The other Judgements, with the fl
~ lowing figures inserted in each case
= the proper places, are exactly like
above for the North Carolina RailrO.
10 Norfolk and Carolina Railr0ad-A
y sessed value, $959,617; net earnln
70 $124,O17; reduction, $l2,206; lsavi
n net still, Sill, ,Sl1; excess of per ce
$73, ,426.
Wilmington and Weldon RailrO
main line and Wilson and Fayet
Ii" vile branch-Assessed value, s., sc
re- 527; net earnings, $500, 1893; reducti
ng Sl4I ,ozs; leaving nsS se,,ola, so!1, %o'1'o
We eA1ses y, len Ts, SoA' oo
nd OOSA SOuA AsoAAA OeeeA- 1HoSSooS>A -.