The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1899-01-12

FL /. 4
N n : go 80 4 - go N n ~ go N, n IN,
10 proetlo11, - we'll - irum = IoInf u404s
point, OF this coutoutlon, not Will oloI
% prove, - I IN sure I coQ11, t1nt tnefo
never will BE- IN Independent line ot rail-
road 10 milea long constructed u tAl1
state a. long - that contentlon y eerlcusly
urged By our State eovefnmoht. Without
going further Into the Queatiun. let me. 81
the risk Of being tedious, refer briefly to
the injustice OF the contention, waivlne
for this occasion its Absurdity and tmprac.
ticability. I will not elaborate, but will
merely use q single Illustration. IS
| Take, for instance, Z factory or an Of
Ace building. or any modern enterprise;
any will servo the purpose, but let ~
take a factory. Mr.. A decides to erect In
this city some factory or manufacturing
establishment. We will say 1t IL novel
entcrprise and that the work IL done At 1
time when construction materials for such
work and the labor required are high, Let
us even assume that through insxperience
| Or lack OF Judgment the architect or super
intendent makes mistakes which greatly
add to the cost, and that the completed
structure cost Mr.. A very much more than
III should; that inetead Of building Il for
500. 900 the plant actually costs him $780,
600. On account, however, OF the conven-
ience and advantages OF the products OF his
factory and the improvement over what
was previously In use the demand Is such
that Mr.. AS customers can nfford and
do take them in such quantities and at such
prices as will afford Mr.. a Oil income wo
will say Of pei cent upon tho actual
cost Of his Investment running to 100000.
Suppose the State Of Texas. or some agency
cstablisnSd by II, should come to Mr.. A
and say that his plant could be reproduced
for 100000 eyes," says Mr.. A, "because
| my enterprise was new and since then the
cost OF construction, materials and labor
has fallen. ana. besides. my architect and
superintendent Of construction. for lack of
experience, made mistakes which grcatly
added to tho cost OF my building. But
| that Is your misfortune" says the State;
"nnd az your plant could be reproduced for
500. 900 YOU must reduce the returns Upon
your Investment to the basis OF 100000. :.
But" MIR. A says II have actually Invest
ed 5000. 400, and ought to be allowed to
earn reasonable return upon the actual
Investment, at least II trade and compcti-
tive conditions will allow me to do So.
NO" says the State ngaiu. the hign
prices of construction prevailing when Your
work was done ana the mistakes m"ae ~
reconstruction were your misfortune. our
plant can DO reprouuccd Tor one-ha,l oi
what yours cost ana you must Gu, down
your prohts 70 tnat OASIS, hu,, says
Mr. a (and mere we ,get 70 ,ne ker I.pe.I
IL mas not peen reprouuueo NM n'"y ,,,, ~
oe. wait Until so.ic onu swnee !, W. n,,d . sn
money nocessurs " tsp ..,u,, sra. 90 81
apsoiutciy Tree Irvn, nuu ~ ~ o', .a "a
avoid mistakes, ana Goes. M INV wv, ,st. nv,
" wu uus ~. ;.,sat,,,, III. ,,nn.v h,re ns
10 w MN ~ me- Va. ,,,,t We q man 40
I. 800 s.,S -. nS,ny IL i,,dyn,ant nd Ia
lesn.es - a.'% "a nstah,ish a,,ch ! niant nv
sba IA. :, r,inc when There nrc sd many
n.har TalSa ha mny occ,iny. NV property,
ocnora,nrl n every test that Is applied In
~ nra,,,orv asssire ~ lifc Ia worth what
y, ny 100 ,,,a ~ nnvs returns unnn that be-
nn,,so thai IL lis value. RI one half its
yaimc would be DESTROYED by the .onstruc-
tion ~ another NV the side OF II, walt
until the other IL constructed 1t has not
been constructed yet. II Is possible. but
Ia mt even probable. Do not ronhscate
NV property upon mere theory, but walt
until tho condition arises and then ] Will
meet II and deal with IT.
who will deny the justice OF Mr.. AS
contention? This thoroughly illustrates
the position of the railroads. ana IL put
one of the several conclusive answers
that we make to the contention tnat inc
value of our property should be iimlteu
to the supposed cost of producing II.
Wait until some one or some company
comes along with enough money and SO
little sense ms to construct railroad
alongside tho Houston and Texas Centrai,
for instance VIII they ever come? Cer-
tafnly II is not probable; indeed. may
say, IL iS scarcely possible business HUI
are not guilty of such folly. and there are
too many other fields for them to occupy
So We say to the State that you should
not measure the value of our property by
n test that can never be applied, or by
condition that will never arise We are
dealing with condition and not the
DRY. Do not sacrifice our property 10
mere theory; do not let condition which
does not exist and never Will exist, be
conjured up to destroy us. Tho constitute
ton OF another line OF railroad alongside
of ours and equal in all respects to yars
might deprecinte the value OF our prop
erty 80 per cent, but I do not believe 1t
would because with our old and well sea-
soncd road the relation OF our tracks TO
Industrial enterprises erected along them
and our location with reference 10 business
sections and communities would still give
us an immense advantage over any par
allel line, II Is for that reason, among
others. why 1t never will be closely par
alleled. At all events, II has not been
done yet, and 1t Is unjust and unrea3on-
able to destroy us to satisfy theory or
because of condition that does not exist,
that is not probable. and, In my Judgment,
is not even possible, because In all the
world do not believe there is man
,,.,.h onovoh p,npnv and with so little