The Laurens advertiser. (Laurens, S.C.) 1885-1973, 1901-01-09
THROWING OFF THE MASK,
The Interstate Commerce Commits
sion and the Railroads.
n. Y. Financial Chronicle. Dec l. 1900

sion and the Railroads.
n. Y, Financial Chronicle, Dec. |, 1900.
In decision rendered this week tn,
Interstate Commerce commission ha,
thrown Oft all disguise and has revealed
the animus which is controlling it,
course and action. The trainers of tn,
interstate law intended that the com
mission should act in an imparta
manner, deciding cases before IT
strictlyln accordance with their merits
The board has from ine first acted a,
If it were the champion of the shippers
and as if its chief function consisted in
harassing and embarrassing the rail
roads and ruling against them when
occasion offered. But while the com
mission could not conceal the bias il
felt, its utlerances at least have hither
to been couchcd in judicial and unob.
jectionablc language, thus preserving
semblance of impartiality. This
week, however, it has finally thrown
precaution to the winds. The South.
ern Railway company had asked for q
rcheanng in case involving relative
rates to Lynchburg, Danvil,c, etc.
which had been decided against it in
the spring. In its petition the COM
pany claimed that to obey the decision
of the commission would involve a loss
to it of $433 900 per annum, and that
as no dividend had been paid on the
company's co nmon stock of Sl20 900.
900 during 1899, to insist upon cutting
OIL that amount of revenue per year
would be tantamount TO depriving the
owners OF the stock of their property
without due process of law. The com
mission makes an attempt TO dispute
the figures of loss given, and then goes
on to say that the stock was issued as
part OF reorganization scheme under
which the company came into exist
encc, that it does not appear that any
thing was ever paid upon such stock
and finally (apparently to clinch q
weak argument) "that it does not rest
IN the whim OF reorganization COM
mittee in Wall street to impose q tax
upon the whole Southern country."
The allusion hele to the "whlm of a
reorganization committee" in "Wall
street" is not only irrelevant and in ex-
ceedingly bad taste, violating every rule
OF official propriety, but in the in
ference which it seeks to convey ls a
gross misrepresentation of the facts of
the case. There was no occasion for
Juggling in the reorganization commit
tee at all and we can conceive of no
reason for so doing, except desire on
the part OF some of the members to
pose before the country as foes Of the
railroad and financial interests. The
reorganization committee was not on
trial, and If the commission doomed
the capitalization Of tho Southern rail-
way excessive and wanted to maintain
its position with reference to the rate
question, a decorous statement to that
effect would have answered every pur-
pose and have shown that the board
still had some regard for its official po-
sition. Instead, the commission seeks
to cast aspersions upon body of men
who in reorganizing the old Richmond
and West Point Terminal company and
its constituent properties rendered as
important a public service as was ever
rendered under similar circumstances
by like body anywhere in the coun.
iEation committee, instead of being pill.
loried, should be held up to public ap
proval and praise. They accomplished eG
a task which seemed wellnigh hopeles,
"a task which several previous com
mittess formed for the snme purpose
had been obliged to abandon bccaus,
of it's onerous character.
The imputation that this committee
which carried to success an undertak
ing which everyone else had aban
doned, sought by the reorganization ct,
impose Tux upon the whole Sou,nerl
country" Is absolutely without an,
foundation in truth, and has nothin,
whatever to sustain it. When thes
people took hold the properties consti
tuting the present Southern railwa
system were physical as well as
financial wreck. The service was bad
and tho costly way IN which it wa
rendered forbade tho possibility @
cheapening the charge to the public
The reorganizers provided the mean
for rehabilitating the system, an
poured millions upon millions into
for it's Improvement and development
Now at last the territory served by tn
lines has railroad service worthy {
the name. SO far from having i'm
posed tax upon any portion Of til
Southern country, we venture the a
sertion that the South today, as tl1
result of these efforts and expend
lures, is being served better all
cheaper than at any previous perio
in its history.
The statement that there 10 no ey
Q dencs that anything was aver paid c
- the common stock OF tho Souths,