Virginian-pilot. (Norfolk, Va.) 1898-1911, 1900-02-09
TWELVE PAGES
FRIDAY. FEBRUARY .. 1900.
CORPORATIONS AND THE
ST'ATE-NO PARTNERSHIP
BETWEEN THEM.

Corporations arc mere business or
CARNATIONS. They are understood to be
soulless. They are working for them
selves and for nobody else. 1t is mere
question of dollars and cents with them,
and they do not care q continental
copper who they make money out of, so
they make money. They would as soon
make 1t out of the State as out of any
body else. They are very useful insti-
tutions; and whether that Is the motive
or not, they are ordinarily and natu-
rally beneficial to the public, especially
where they encourage competition
which reduces costs to the public.
These observations are suggested by
the hot controversy now being waged
before the General Assembly of Vir-
glnia upon the application OF u rival
corporation to parallel the line of the
Richmond. Fredericksburg and Poto-
nae Railroad Company by building a
lew road from Washington City to
Richmond. The Seaboard Air Line is
ALTERING the proposed new line, and
appealing TO the public spirit of the
Legislature of Virginia to break down
.he bloated monopoly which, for more
han sixty years has been pampered
)y the State and fattened and grown
great by the combined operation of eX-
emptlon from taxation and exclusion Of
all competition.
The Richmond, Fredericksburg and
earnestly reslsts these sordid appeals
and seeks to vlndicate it's public spirit
and show what a blessing 1t is to the
State and the taxpayers of the State.
by citing the large amounts 1t has
heretofore paid the State in dividends
and by offering to the State bride Of
IL per cent. upon the State stock in
that company for the future.
Now, whatever contrary views OF
these matters may be held by others,
either of these corporations Is Animal
cd by desire to bestow benefits upon
others. but only to reap benefits for
themselves: and we have no quarrel
with them on this score. We expect
them to work for themselves alone
But we think the Legislature of Vir-
ginia, while granting all proper and
reasonable privileges. ought first, last
and NIL the time, to look out for the
interests of the PEOPLE OF VIR-
GINA above ali corporations.
{ To illustrate our meaning as applied
70 the particular case in hand: Some
sixty or seventy years ago railroads
were scarcely known in Virginia, and
our people felt natural desire TO pro
mote an enterprise that offered such
great advantages to the people in facil-
0ty of travel and TRANSPORTATION: ana
the Legislature of Virginia, in response
to this sentiment, subscribed for 2,752
shares OF the stock of the Richmond
Fredericksburg and Potomac Railroad
D Company, and paid the amount of it's
subscription. towit: $275,2O0, and OK
empted the company from taxation.
We'll. with this exclusive monopoly and
these advantages, the road was built.
and has paid good dividends TO tho
State. amounting in all Common stock
and dividend obligations) TO sl,l5O,S so.
We find this statement furnished IN
Auditor Marye and published in the
SVirginian-Pilot OF yesterday. The An
ditor omits all alluslon to the dividends
ITO private stockholders; but he fur
gnishes facts enough to enable us to
make out our calculations The com
mon stock issued by the company
p1nounted to 1856 shares, of which the
Etste had Z, 762-leaylng 1904 shares in