The times. [volume] (Richmond, Va.) 1890-1903, 1902-01-05
SECOND PART
greatly retarded tho expansion OF bust.
NoRVoLK. AND NEsTERN.

NORFOLK AND WESTERN.
Mr.. Z. E. Johnson, general manager OF
the Norfolk and Western Railroad, WAS
the next speaker. He asserted that the
good VIII OF the people was the mos.
valuable asset on the balance sheet OF
q. railway company. and that 1t was the
constant effort OF such corporations 10
adjust rates and facilities SO that the
public could be encouraged TO patroaize
railroads, and that products and develop
nient could be constantly on the Increase
He made very ablo argument asaanst
tho insertion Of the proposed experiment
tai and drastic law in the Constitution
He cited many States as having ADOPTED
such laws by tho Legislature ana ths
repeal or repeated amendment Of nearly
all OF them The adoption Of this oTd.-
nance would stop railroad building IN
virginia, because the stocks and lords
could not be marketed on value ENeo
by a commission. and the organization g.
a railroad or otke- corporation Wauin &c
made practically impossible III the II!
ture. and disaster and RUIN ""C!o os me
result He had heard no complaint from
farmers or shippers and no general oe-
mand for tho adoption of a railway or
corporation commission from the genera
public.
Such a commission would not be COM
DoSGd OF men VINO hi4S" e!iO
business Of railroa6ing. and yet 1t was
rroposed to put the whole business and
property of such corporations in their
control without even the right of appeal.
lie quoted freight rates for the past
ten years to show how much less they
were now, not half what they were ten
wears ago. He thought it would be UNI
iust 10 carital invested here under iib-
cral laws to now place In the Consul
tuition stringent and harsh restrictions
upon it. Il Being impossible for II TO DC
withdrawn
DEMAGoGUEs VS.. PEOPLE
To have q Railroad Commission elect
cd t,y the people would make it possible
for political demogogues to array the
populace against corporations, without
a knowledge of their actual merit, and IN
measure destroy invested capital ana
bring disaster to the State. He Illus
trated this by citing the disastrous re-
suits of the Granger laws of the west
some years ago.
Speaking of the long and short haul
rates, Mr.. Johnson said no State IN the
Union had Droiited so nucE as var
ginfa by low long haul rates II was
Impossible to fix J, fair infieSlole long
and short haul rate based on mileage
If the rate was made reasonable for
| tCn-Illle maui, dHu sikS SAM r.
was maintained in a hundred-mile haul,
the shipper living one hundred miles
from market would have to pay SO rlucn
in freight he could not set his products
to market. He showed how it often cost
less TO haul freight one hundred miles
than it did to haul it ten miles. 1t was
impossible to base traffic rates on the
cost of service.
In concluding. Mr.. Johnson said the
vast yea, hal! been the most prosperous
in the history of Virginia. and he ap-
pealeI u the committee to leave the
enactment OF any such law as the one
proposed to the Legislature, so That II
a mistake was made it could be remedied
Mr.. Hotchk,ss, general freight agent OF
the Chesape and Ohio. made a very
brief speech saying that 9th IS had 50
we'll covered the. ground he Would only
ay that he did not believe the commit
tee would finally adopt any such ordi-
nance as the one proposed.
Mr.. johnson then stated that he thought
the r. Threads ought to be allowed for their
1awvere to also make argument before
the committee.
At er ON confusion, 1t was determined
to Il next We 7resday, ut 500 o'clock, to
h ar the counsel for the railroads. The
committee rose at 1920 O'clock.
An effort was made by DR.. McIlwaine
20 have the arguments last night after
s o'clock hut the ATTORNEYS objected that
t ey were rot pre"ared TO make their ar
cum - Monday vas too soon, and
We nezday was greed on.