The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1904-05-24

examination or even by use Tor short
period whether cylinder OIL is in
trlnsIcally worth thiTty-one cents or
SeNenty-hVe cents a gallon. The OH
people know this, and exert themselves
10 convince the purchase that he
needs high-grade oil. Ha!lnS sue
ceeded, they usually proceed TO IuT-
nish him the lowest grade which hey
believe Will answer the purpose ut the
price OF the higher grade which they
nave convinced him he needs. II IS
shown in the evidence that President
Patrick first made the deal complained
OF with the National Oil company, ana
we presume that he thought ne add
about the right thing at about the
right price. 1T is wise man VINO
knows that he is ignorant, and IN our
opinion it shows Mr.. Bryan wisdom
that he refused to change a relation
ship which had proved satisfactory 1t
is sometimes better to bear the Owls
we have than to fly to those we EnoW
not of, and this is certainly true II 1t
it is question of oil. The Standard Oi!
company made lower prices to the At
lantic and North Carolina railroad
than they We're selling what was sup
posed to be the same grades Of oil for
to the other roads, and surely in deal
ing with these people it is we'll 10 fear
the Greeks bearing gifts.
Charge in Relation to Wood Contracts.
Owing to the growing scarcity Of
timber and extensive purchases " I'm
Der land by lumbermen IL mas cen
become more and more dlllcult - Sc
cure a sufficient supply OF wood for
fuel. During the last two years several
large brick-making plants have been
started alongside the road, and they
have become purchasers of large guam
titles of wood The result has been
that wood has advanced in price very
materially, averaging today very near
~ $500 per cord, as against Sl.4V TWO
years ago. Finding himself unable to
secure fuel from private parties, Presl-
dent Bryan bought for the company
quite a large acreage of standing TIM
Der, in order to secure u supply of
fuel for the future. quite lot or
this timber is situated on the Atlantic
Coast Line, ten to thirty miles from
Goldsboro. In order TO get this wood
to Goldsboro the company entered INTO
a contract with one Mr.. Overman TO
cut the wood from the company's land
and deliver it in Goldsboro over the
Atlantic Coast Line track at SGD per
cord credit to be taken by the COM
pany for the standing wood at 20 cents
per cord This has not been profit
able arrangement for the company, IN
view of the higher cost of wood, the
difficulty of securing a regular supply
by reason of scarcity of cars and the
necessity of advancing money to the
contractor before the wood is delivered
to the company at Goldsboro, pro-
ceeding prohibited alike by the charter
of the company and good business
Judgment. Wood standing upon hnd
contiguous to it's own road would nave
been better bought even at 30 cents
per cord, as at least this sum mas
H., &c, n rssls ~ a
rails Of the Atlantic and North caro-
lima railroad. This timber land sew
eral miles from its own tracks should
not have been bought Neither should
the advances have been made 10 the
contractor nor to any other person.
The company also bought quantity
of standing timber along its own traces
east OF Dover. 1t entered into a con
tract with one Ives to cut the WOOD
from this land, agreeing TO pay hsH
1890 per cord and retaining % cehls
per cord for the standing wood, max
ing net price TO Ives Sis. ON account
of the scarcity of labor Ives hired 1lfty
convicts from the States Prison, ana
the railroad company advanced nam
the money 10 get to work; buit quac
ters for him, and advanced money 10
meet his pay-rolis during the lad
weather which prevailed at the i2Si,l-
ming of his operations. IT IS clear tla'
the company had not the authority to
make such advances and ii is chaf5ed
that there was no necessity to 20 so
The company stood ready to enter J &c
n contract to pay $1-75 net to have
their own wood cut and put on the
road. 1t is clear that a contractor bad
at least a chance to make proi1t on
his operations. and il would seem thai
he should also have assumed what
ever Of chance there may have been
of loss. On account of bad weather and
other like causes. 1t is alleged that
many persons with sufficient means 70
equip themselves for the work With
out asking or requiring advances IRON
the company. would have been *lao
10 have the contract if 1t had beer
known that such a contract was 70 Dt
| let. In all deals which hold out 'ht
hone of profit there is also chance
| for loss, ana it seems 10 lis that IL was
unbusinesslike and unwise for the rGac
| TO let such a contract as this, lnN0N'
| ing as it does $30.000.00, to contr3c-
| tor who was unable, by reason OF an
solvency. to assume the risk of Toss
which attends every business transic'
| ton of this nature. II shoul1
| proye profitable the proht goes 10 tIlt
! contractor: if loss resulted ii Woult
! have to be borne by the company since