The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1906-01-08
BY w. fP. klrkwood.

RAILROADS AND THE RAILROAD
RATE EM.-Congress will soon
be wrestling with, railroad rate regula-
ton, and as the great problem is dis
sected. there will be many readers seek
ing detailed information covering the
finer points brought out. For their BEN
eft for anyone in fact, interested in the
general subject of railroads. there are.
three new publications on the market.
These are: 1922
Government Regulation of Railroad
Rates, by Hugo r.. Meyer (The Macmi-
Ian company, New York;.
American Railroad Rates, by Walter c.
Moves (Little, Brown & Co.; Boston,.
Restrictive Railroad Regulation, by
Henry 5. Haines Crhe Macmillan COM
pany, New York; }. 3D. 49,
one seeking the greatest light might
do well to read thensa all, for altho, in the
handling OF the general subjects by three
different writers there is necessarily
some covering Of the same ground, there
/ are declded dltferences of viewpoint and in
fmethod OF, presentation, as also some va
ration in the material used. If discrim-
ma tlon or selection must be made, Pro-
1essor Meyers book would recommend it.
SER as most comprehensive, altho the
Wofd exhaustive cannot so readily be
USED. Ihefe is the faint suspicion of bias
about 1t. Professor Meyer has appa rently
! carried on. his Investigations from a rail-
road or corporate environment With this
IN mlnd. however, one may read it
With benefit. There is a mass of tnfor-
1latlon relative to railroad operation in
our country and Europe, and the subject
or transportation other than by railroads
1 IS Wen covered. Contrasts are drawn be-
tween condltlons In Europe and in Amer
lca the purpose of which, apparently is
to prove the necessity Of non interference
with railroad affairs on the part of the
government. The holding of this bias
does not impair the value Of the foreign
information and domestic, statistics gath.
cred by the author. 81.
/! The work of judge Moves is the MOS
scholarly. 1t presents essential facts anf
hgures in readable form, and carries evi
dence of the legal mind turnout Judg,
MOVES brings out very forcibly the i'm
| menslty OF the rate question. Two hun
dred thousand miles of railroad in Amer
lea represent nearly one thousand oper
atlng companies, great or small, and lit
terally millions of rates that meet ant
overlap and depend one upon the other
10 change g. rate is to change multi
tude Of rates. Thirty thousand station
agents are involved in the matter of tn
, changes. The argument does not ex
tend to the point that no changes shout
be made, but points out effectively tn
} immensely of the problem, a question fey
, understand and the great importance Q
which few have grasped.
The book of Mr.. Haines will appeal t
the practical man.. Experience, in rail
road affairs thru connection with tn
. Plant system and in other ways has mad
Mr.. Ha1nes competent. He handles tn
subject much as a highgrade railroa
man would talk. His points are well pre-
3 scented. His views necessarily lean some
= what to the railroad side. yet the boo
1 is very fair, and despite his intimate raj
road relationship, it really carries les
l bias than the work of Professor Meye
4 An interesting chapter in the Haine
r book deals with the attempt of state off
Gals to base rates upon cost of propert
. or capitalization presumably warranted
s In 1876. for instance, the roads that a.
0 terward went into the Great Northe1
! system were sold under mortgage fore
closure for IS, 600, 000 In 1890 they stoc
for $40, 900 inSstocK a11d6 $84,000,O0O
s bonds. The effortaoeE the railroad con
a mission to hold rates upon parity wit
/ former basis of capitalization; and tt
y defeat Of it by the courts, makes inte
8 esting reading.
r The three books present a. total Of il
O: formation valuable to anyone who me-
desire to be informed upon railroad maj
agement and financing, entirely asit
r from their specific purpose Of elucidatit
d Of rate regulation questions.
/ j. E Neville.