The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1906-06-29
s',rhe Government and the Rail Rail

ssE &, ,ot The government Is to take upon
,t.s,, the task Of regulating railroad rates y7
md exercising q more rigid s superY's'oit
n 4han# ever over interstate roads, ttieros =
& much speculation and more or less ~ ~
% .,ness as to the policy to be ndopteu
t,,,,,, .ha I Interstate Commerce Com @
N ~ 4 thing is certain; under the new ''
B ~ the rebate system must must be en-
Il firely abolished. There is dcr '0.l' -
,x;,da ns the country for O squar VS. -
Ia ali, for d system that VIII give 3the
n ~ .h,nner an equal chance with the
g Big shipper. :5 ..5, & I, !. gu. II,
nother popular demand is that ra all
" 49, officials, from highest to lowest E'
NJ .fall receive for their services es on1s ' ne
If ,arv allowed, and that they sh ne no y
M ra special gifts from shippers IN ex-
Il "a ange for special ga atons in''
NJ sort e graft must be abolished Or 'ne
G 4 ara viii sooner or later ma the1 m
s Selves l,s behind prison bars ''a''stsI ),
8S But the most serious question 1 l1'vo'yeu
me question OF rates There are nose g
e VT contend that GONE Of the ra a. as
~ :, "a !, las are earning too much money
hair Investment, and that N al euc g
q ses the public will demand g reductl 20
VI, 10 5 senator La Toilette has gone
" ~ as to say that the rate 411 y =
s re, need IL q point whore the revennie WI
n NJ ! Yair rate OF interest upon the
av actually invested in 0eS roe d-no
s mi ana no more But there are seyeral
u. e, IS 4 be taken into considerat ton
NJ m erstate Commerce Commission a7
nos esses something Of the 3fuhc tlons y ~
NJ and 1t must preserve the equlties,
sl,s sn,te 81 popular clamor. Moreover,
s * Y - roads have the right OF appear 20
A n y 1Tnited states Courts, and the courts r
s,s,, m see ~ 1t tint the railroads, as well
M s .h M shippers, get their rights ~ o e'
n our railroads are now prosperous w
they were not always 50. The sl history
~, most Of them is q history OF BANK
4 a,,,ntcy. foreclosure and
M and it Is only within the past rev years
VI ,t,a tGt he rai lroa DIS, as whole, have been
n ,,avina dividends on their capital stock.
tier reorganization they were compeialed
Nj 3 spend their earnings in rebuilding the'f
Nj IN cks. their bridges ard their terminals
ssssa;nd II the purchnse of'new and improved
II IS Ipment, Tie public have demanded
Sss ~ hetter service, and the demand con-
& inues for better and better service. II IS
" demand which the railroads must seet,
Il and large portion OF their earnings
II ~, u continue for long time to be en-
81 rloyed in that direction. This Of itself
M iii III prevent any Immediate SLAUGHTER
u sof rates. Z.
Ssaa3s Al, the stockholders have rights which
4 must be- respected, and which, the courts r'.
\ .vu,ill respect. They have waited long nn pal
4 nv t,y for returns on their investment,
tfrd until the past few years they waited az %
Y III vain. A distinguished citizen o. Vlr-{
81 ainia. who is a hnancler with expert
& kno,wledge Of railroad operation, expresses
the opinion that there are few, 4 any,
VI railroads In the South which could BIO
| Reproduced and equipped as they are TO-
nav Tor the entire sum OF their capitallza-
xion and ne says that tho aggregate
t12iyidend received by the stockholders Of
southern railroads during the past fifteen
M 81 twenty years would show an exceed
Il inEly small average percentage on the
l IA Actual investment,
4 I'll IL safe to predict, therefore, that
4 pnder the new order Of things. the rail-
IT roads VIII be made to obey the law, to
Il refrain from rebates. and all forms q
NJ discrimination. and 10 give all GLASSES
NJ 81 shippers square deal. On the other
y hand the courts will see to II that the
/ stockholders also get o squasn deal the'
1 i he property is not conhscatcd, and tina
Eli III their rights are preserved
ST I'M N.Y. ~ hi .g -----7--- q
| iA Markham Confession