The Coeur d'Alene press. (Coeur d'Alene, Idaho) 1892-1907, 1904-03-05

aI OF thslr 'meueMh0ider1. In order "
pay iiVIGAsnds II was found good policy
n cater to the -nes1s md wishes Of the
patr0ns % ,these roads. As rule thu
onaeiais were hsGxtiy taesrested person.
ally IN iaAe sasnaks and looked for In
creased ineOmes fsOm Improved service
and added trarac. EAeh road had one
o. more competitors. and each man'
uKsmeut was On tha lookout for any
sew iMventinn or suggestion which
wouId give an sdvantage over its rival
scr rivals. an q consequence. inventors
found a fruitful Aeld for their seniua
IN seeking - taeFease speeds. promote
comfort or eject economies. IL yeas In
the period from 1855 To 1855 ThAt Amer
lean railroads made their creates,
progress. This WAS an era OF cOnstrue'
ton anAz of hsgieknaaae effort On the part
OF the financial interests which were
In cOatrOl Of railway properties. The
railroad maKnAte OF those years was .
great business man, who attained sue
cess BY catering to the ever increasing
demands Of the eountry traversed BY
his traekA He Waa personally AZ,
QuaInted with the leading merchants
and farmers. and had ears and eyes
for their demands and complaints.
Those days have passed. probably for
ever"
Il have mot noehced any radical
change In railroad management" DE-
cared Juass sawyer after a pause.
In many tnStARces the same mea arr
st the IAsad ot railroads as twenty OF
more YEARS age, rske the NJ. \. and
W.. fur instance. Mr.. Neweome Is pres.
dent and has been for more than b
gsnsrAtion-"
yes. and President Neweone has
about az much to say about the Affairs
Oc the a. y. md W. a. have to say
about Jour hama a0Ahs. ard that 10 10th
Ing" responded CoiOnel Monroe. Years
ago Mr.. SsveOme was the principal
stOckholCier and the active head Of AZ
1n12- To-day be does n0t hold a Sharv
Of stock and Is simply q nEurehead Tor
<As- syHaleMse which eomtrols ~ ~ and
". The road b combined with all VI
AA8 A4AAAMN AAN1AAh A. ~ A4eEh&kG4 LE0ll
WaIfztrsst. b. WaltSaEsst and for Wall
street am personally acquainted with
mr.. keweons and enjoy hls confidence.
| An Dot violating II when I say that
he does not know who owns the M. n
al ". and dos not care. Il Il a
aReh Of a bEanch VI one Of seven
ies which have been merged into
syndicate controlling 1000 miles Of
rFack. Stock has been Issued to many
times its value. and only an expert can
say how many kInds Of bonds are piled
on top OF 1t. The man supposed to b.
at the head OF the combine never saw
LineOlRSIlle and pr0babiy never will
see II. He could not 'dFxw q map Of
the road II be tried. He knows less
x practical rallrOading than I do Of
the vegetation OF Mars. and that L.
mighty little. But he Knows all shout
The gambling value Of stocks and
bonds. He Knows when To buy and
when 10 sell Thu n. a. and w. b
Que Of the sections n the roulette
wheel. one OF tkSe cards IN ne faro
layout and this great railroad mag.
nAte' Ii one Of the owners Of Ghe game.
NE bears the same relation to eOmmeFrp
nat a tomato warm does to the plant
On which u feeds. There are times
when be finds his interest In the sue.
eeSs Of the road. and there are others
wbsn be n fully sMtisflsd with the re-
verse. He II q gambler who always
An0ws which way the cards will fan.
When the public has q furOre Of buying
Ne sells them stocks; when the public
% IN q panic be Il the great nnancief
VINO stands under the market aud ~.
ssOees public confidence"
You DON'T mean Mr.. J. Pterpout
Morgan, do your asked Postma stsE
Jenkins In an Awed half whisper.
'Iih2ge no Uafticular man In mind. &"
answered AAIs eolousl ~fhe point I am
trying tO make Is that our railroads
are and have been run by fnanciers for
purposes Of speculation polite w0rI
f1e gambltng-aAd not By practical
railroad men for the honest PROFITS OF
ne traAic. An attempt IL being made
- he present time To wiring from the
public 81 excessive freight and passsn.
ger charges q Sul3efeut sum OF MONEY
with which tO'kesp up the pFetsuse OF
paying aiVi4snes 81 stocks which have
esen Satersd over and over axain. A
ximS viii come when these same man
having disposed Of the bulk OF their
seedlings. will profess great fear cen.
esrning the future Of railway nroflta
Ihen q panic In these securities will
Follow. with such incidents as bank
snpe@, FeostSsEshiDs and reorRaniza.
tsons. Wsth the money realized from
seemef opsEstions-'ODssations' Il wha,
S2m weiier would have caileCi n ten
derer word for what some person,
Specify a. robbery these Wall street
sAllSoad nen will again rescue M from
he sWsmDs 81 Failure. am not dls
sosa1ng the morality Of this system. II
@NnAoHBtadly ResDeeta BILE. being prof
leaoIa. The great mass Of the American
people are interested In railroads from,
NE fact nat itsey are compelled 10
Sa6oniGs thea. Ths average citizen n
asstnsr . Stoekholder nor a FailwaV
sesek speeulatOT think that IL can he
aswn tAat Wall streets DONNA ton