New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1906-03-05
GAYNOR FLAWS TRUSTS.
ATTACK ON ROCKEFELLER
Justice Bitterly Denounces abuse
of Public Franchises.

/ - ~, c,,rsrna Court of the State of New
! York delivered an address on Public Franchises;
Their Uses and Abuses" before large audience at
ew-Rochelle yesterday. He fiayed the corpora
,ons calling attention TO the fact that the richest
man In the world is now a fugitive from justice
and praised President Roosevelt for forcing Con-
gress to take action the bill TO regulate freight
rates in a manner which caused outbursts of ap-
plause.
He denied that Mr. Rockefeller had made his
money by his superior genius. He said that he had
succeeded rather through the superior rascaity OF
the railroads. In speaking OF John D. RoeHefeflers
action in evading the process servers. Justice Gay
nor said that amount of money given 10 charity,
no amount of church Sunday school teachings;
no amount Of money given to found colleges, which
was the unpaid wages due to labor, could make
such a character respectable in this country or
in any other country on earth unless II is abso-
lutely degenerate community. In this connection
Justice Gaynor. in speaking of Mr. Rockefeller,
said:
He is no better than Hamilton. the insurance
lobbyist. who ran of to France to escape examina-
ton before a legislative committee"
OF President Roosevelt Justice Gaynor said;
II honor the President OF the United States !
honor him because in spite Of all this talk, this
cheap political talk this humbug talk on the sub
ject of rate legislation. he had the manhood and
integrity to put ii up TO Congress in such manner
that they have TO pass this law or go home in dis
grace If Congress dares adjourn without doing it,
wait and what happens to them. If had my
way I would have Congress not only pass the rail-
road freight rate BILL but place government freight
agents every railroad With the government in
charge of the freight departments. we would then
If the railroads would charge man more
than another for hauling his freight market
Justice Gaynor declared that X the present rate
determinations cannot be stopped by law. then the
time will come when the people will compel the
governments to resume these franchises.
Justice Gaynor introduced by ex-senator
John Ford. who attacked the Rapid Transit Com
mission for it's lethargy. He said that every time
he was reminded of that commission it made his
blood boil That great city like New-York would
tolerate such autocratic institution he said. was
than he could understand.
The meeting attended by about two thousand
prominent persons from New-Rochel's Greenwich.
Mount Vernon, Yonkers and White Plains. and
great interest taken in Judge Gaynors speech.
which was, in part, as follows:
Twenty gas companies were created from time
to time IN what was the old city OF New-Hork'
They We're given separate districts 10 supply;
Through laws passed later one company was aoiS
10 get control of all, and the city has become a
victim of her own offspring.
The same applies TO stree, railroad companies.
When the elevated roads were built they paid large
the Metropolitan Street RAILWAY Company took
the surface lines the total bonds of the lessor
politan issued on top this sl6OOOOO in bonds and
Sl29Jooo9 in stock Then the Metropolitan was alb
with a capital of S2o00Ooo after which the Metro
5 S ao9uired the Ti City RaWay COM
pany. The grand total of stocks and bonds of the
surface companies IS 500 10000.
The people will not tolerate lease for 999 years.
nor yet for nine years. The intelligent people Of
this country are finally making up their minds that
created fostered by the abuse the public fran
chises of the country. under which our public
vice corporations exist, and they prepared to
elect legislatures and courts and public officials
who viii even resume such franchises. take them
back. unless such abuses are stopped.
We cry out against trusts. but the legislators
whom We have elected busy themselves passing
pass laws to curb trusts, called antitrust laWS-fQ
fact they sometimes pass both kinds OF laws in
crous?
Speaking of the subway. Justice Gaynor said that
ii was "a remarkable piece OF financing at the
public expense for the benefit OF few private ndi-
Yduals, the like Of which is not 10 be found in the
whole world" He declared the city was deprived
of its own property for which it paid the moment
the subway opened All the city gets is the
So per cent interest on the ss5OOOO bonds sold to
build the tunnel. and per cent on the s35OOoO0O
this to be applied to principal But this per cent
Is 10 be paid after per cent IS paid capital in
vested by the subway company. What that capi-
tai is or is TO be fixed the contract does not say
Justice Gaynor asserted that the city could lease
the subway TO a private company for s5.0O0OO0 a
year Again referring TO the interest paid by the
company to the city, he asked:
WHO ever before heard Of interest being applied
TO pay principal? If you hold mortgage on my
house what would you say If I claimed that the
interest payment of AZ per cent should 90 to pay
the principal?"
In speaking of bribery of legislators by exploiters
OF public franchises, Justice Gaynor said that It
was frightful to realize that chairmen of i'm
portaint committees were on the salary list of
He took fling at rebates, affirming that freight
faVorftlsm is the mother OF trusts