Abilene weekly reflector. [volume] (Abilene, Kan.) 1888-1935, 1906-08-23
PRIEST. RIPLEYs ANSWER.
ANOTHER OPEN LETTER 70 THE
PEOPLE or KANSAS.

mo- THR PNoPLN OF KANsAs..

| tSJLof nave TSCoiVOU V6Iy 1911 ~
number Of communications, Of which
about one-half are In approval. one
quarter in criticism and the rest ask
Ing for information.
| Finding It out Of the question to an
swer each letter. ! have decided 70
answer all at once 80 far as IL prac'
ticable.
Those who take issue with the first
letter mainly dwell on these points:
/. Alleged over-capitalization.
| 2. The taxation Of railway property.
3. The issue Of free passes.
4, The alleged interference Of the
railroad In politics.
As TO the first: stated that the
Santa re was worth ali II 10 capital
lied for l am asked Il the stock
holders who bought the stock ten
years ago at, say. $1,000 share. have
not made money. OF course they
have, but has that anything to do with
the case? They had courage enough
to buy an interest, In q discredite&
concern, Just emerging from bank
ruptcy--onl q few had the courage
to do 1t. The great bulk Of our com.
mon stock was held by those whG
owned 1t when the bankruptcy 90
Cured; who held It throughout the
receiyership and who paid an assess
ment Of 5000 per share In cash In
order to keep It. How about those !
people, most Of whom paid par or
more for the stock in the SOS. and
who not only got no returns between
1889 and 1893, but paid an assessment
besides?
Among the letters received is one
from which I quote as follows:
ION March II. 1889, l bought San
tn Re stock, paying S56 for each
share. On July ii, 1895, paid on
each share Of stock cash assess
ment OF $40. Fifty-five dollars, with
interest at six per cent compounded
annually for seventeen years
amounts to $147.95, and ten dollars
compounded at the same rate fos
eleven years amounts to 1880. And
there has been no time in the last
seventeen years that could mot
instead o9 arnwaIlv Nv 4stocE ahorIS
TODAY represent 10 ne S1s6s5 peT
share. / have received on each share
dividends to the amount Of S21.b0
Deducting this from the above
amount would leave each share
Standing me az $l4O.So. inc STOCK -
s ~ n at y. ana ! am loser q
So1;TS " o m. t 49, A1 r ~ ~
consa s4ocL snid i e - assht 1aars 49,
/ Am not 4 loser At III MI am 4 ea,ns s
81 800 Der cent, No dOuht but that
most Of the stockholders stand about
in the same position ! do"
The above letter II from Q CitiGen
Of Kansas whom ] do not know and
never heard Of before, but he was for
tunate in only having paid 96S per
share many Of the present stockholds
ers paid $3.50.
repeat that, whether we consider
what the nronertv has coat fineludius
N INC cnat tha ,ntarast on invarN
.N y 1890. - 1900. i. ~
nl''nS' ~ wnSsne. W oonsluel ~
prouucEon VAAus' u ID NOT OVSrcapiIhs
lied.
Second, taxation: The Santa Re
desires 10 nay its fair share Of the
taxes layied FOR the aupnort Of the
$500. n M, N. - ho.rd ~ ,r,-,c,,,
- 49, = ~ =. " =
- aVus ~ ~ p1VpeEty 40 "ssSss0u -
tne same propOFuon 81 lsS real vaius
~ IL the property Of other citizeneI
there IL no reason why 1t should be
favored in this respect on the one
hand or oppressed on the other n
- 80 thst q ~ cr,,,,o,, ! s,-,es
- 49,. s.n,,a.t,. S - ~. 49,
~. nonc,s @ppiacaelo~ - enls ~
siple woul0 consaoeraDiy reduce tns
laxes we now payO
Third, as to passes: It is almost
universal custom In every part Of the
,ountrv To TRANSPORT free OF charge
,..,onsi .+.ta 80 no,,ntv ofanar,. a.
s-,,..s,,. s -e'....
~ vsiSLnay m -, souy,
ln1- nave ne,e. IeN eart y save Ins
.silroaa ~ clam on tns consclencs
= cns vAnclal LoOolvIue ~ not nAsS
known o. my caSe wneEs lsl
Alor mas voVe9 % Deen eApectea Y
'oeS aSAlnst ~ con v pecenss
= nolcins Z pssa y tns people g
AAAsAs ueslIS eAn. Inls cyuLtesy Small
AXr0mGAA