The Providence news. (Providence [R.I.]) 1891-1906, 1906-02-22
ARGUMENTS ON
BOTH SIDES MADE
Municipal Ownership Question
Was Ably Discussed
At ECONOMIC CLUB DINNER
Many People Came Out to Hear Eminent
Speakers Present Their Views
On the Question
At ECONOMIC CLUB DINNER

Municipal Ownership" was the topic at
the nth after dinner discussion OF the
Economic club OF Providence. held last
night at the Wellington. At the banquet
covers were laid for li3. but these proved
insufficient There was much larger
number In attendance including Albert
Babcock, Edward s. Bacon. Chester w
Barrows. Edward d. Bassett. Earl c.
Battey, William M. p Bowen, Hon. d
Russell Brown. Walter G.. Brown. Harris
H. Buck1in, Charles s. Chaplin, George
Lewis Cook. Edward 8 Clark, Earl s.
Colman. Richard B Comstock, John A.
Cross Frederick ]. Dana, George G. Oar
ling, William c. Dart Professor Nathan
iel f. Davis. Professor James .. Dealey.
Henry G. Dexter. Stephen o. Edwards,
n. Curtis Fletcher, Henry T. Grant, +.
w. Hartwell Laureston Hazard IL.
A. Hunt. James H. Hurley. Frederick w.
Jones, James A. Kinghorn, DIR. Eugene
Kingman. Walter j. Ladd. j. f. r. Law
ton. John B. Lewis George c. Lyon, Pro-
fessor william Mcdonald. Fletcher s.
Mason. III. A. McKenney, Albert +. Mil
Ter, Jr., William w Moss, Rev. Robert
y. Parker. George NJ Parks. John c. Pc
gram. DIR. John NJ Peters, Dexter B.
Potter. Julius II. Preston. Charles g.
Reynolds, Walter II. Small, Edward A.
Stockwell. Samuel S. Stone. Oscar Swan
ron. Simeon Sweet, rloyal G. Taft, Jr., Ar
thur A. Thomas. James w. Thornley,,
William NJ Thornley,, William ". Thur
ber. John A Tillinghast and Professor
George q. Wilson.
After the banquet had been disposed Of
a business meeting was held, President
John c, Pegram presiding. Hon. ID. Rus
sell Brown, T.. S. Clark and j. +. p Law
ton were appointed a nominating commit
writ fFautr aNt fn RI Tar In
the evening following which the first
speaker, Samuel f. Moffit, assistant edi-
tor of Golfers Weekly, was introduced.
He took the affirmative side OF the ques-
ton. saying In part:
DOODLE THE OFFICIALS
THE corporations 10 defeat the public
Doodle the aldermen, the Judges and the
legislature. and bring influence to bear
even upon the clergy The electric light
Ing service OF New York controls the eiec-
tric subways and keeps a competing COM
pany out OF that city. The electric light
corporation is controlled by the Standard
OH company, which in turn controls the
life insurance companies. and thus the
monopolsts have the public at their SER
vice
THE only way to control all these pub
lie utilities Is through municipal owner
ship: but that may mean political cor
ruption IL Ia said the private business
affairs are managed on business princi-
pie. That means that the cost OF con-
etruction and maintenance must be added.
in the case OF the big corporations, the
cost OF bribing and grating.
"A private corporation, by watering Its
stock. reaches point where 1t reaches
out and absorbs another company. The
two are bonded at $3.50. 10000. The dlvi-
dends paid are sl2,000000. while the city
by operating the two on an economic
basis, less water in the stock. would pay
81 10000 on the bonds, which would suffice
10 establish and maintain both utilities.
The only difference is that I'm the first
instance the. corporations own the prop
critics and allow the citizens TO pay for
their use: and that in the latter the cities
own the utilities and pay for them In the
name Of the citizens when they are first
acquired.
What is the difference In the manage
ment? The citizens elect officers and the
latter are held responsible for what they
do. The stock in the big corporations Is
owned by people who have no capacity
for the management OF the properties;
many OF them live In other cities or coun-
tries and know absolutely nothing OF
what is being done with the business.
Some use the shares merely for gambling
purposes in the Stock Exchange"
The other side OF the question was pre-
sented by Everett w; Burdett of the f1rm
OF Boston He spoke In part rs follows:
THE OTHER SIDE.
Tonight We have listened to a philo-
sophicaT and logical paper. | have heaul
many arguments and papers In the inter
ssts OF mefI'PIi hsnn eied VIII apres ou' te
were incorrect and facts that were not
true. The paper we have heard tonight
was radically dif.Srent from these and
The trouble with the first speaker is
that he comes from the wrong city. where
no mans life. liberty or property are safe
and where mems characters are assailed
and both the just and the unjust assailed
and railroaded 10 Jail. II they happen to
be dogged at the heels by yellow news
II do not agree with any of the con-
clusions OF the speaker. but / do agree
with certain OF his propositions The
remedies he proposes are inapplcable In
Massachusetts,. and believe would he so
In this state. ! believe that the evils of
stock watering should be checked. but IL
would be jumping from the frying pan
into the fire to turn even the corporate
interests of New York over TO the tender
merces OF Tammany The affairs OF the
corporations never began 10 be as bad as
those OF the city government"
Referring TO the railroad commission OF
Massachusetts, the speaker said
They have no powers. and yet the rail.
Voluntarily do that which the members
OF that board suggest. Yet no man will
raise his hand and say that any member
OF that board Is guilty OF anything wrong
The gas and electric light board IL differ
entity constituted. IL regulates prices and
fixes dividends. IL has great powers,
which are oxerted for the good OF all
people.
'The corporations know when an order
Is given IL is 20 be obeyed. and ID IL. No
member OF that board has ever been ac-
cused OF grating or anything approach
Ing t Now Just imagine what would
happen In Now York II Tammsny should
ret within it's grasp like properties
NO HARM COMES
"rn Massachusetts no harm comes 10
the public by reason OF the holding or
trust companies. There Is one danger