Barton County democrat. [volume] (Great Bend, Kan.) 1885-1915, 1906-08-10
ROSS Stubs
TO Mr.. RIPLEY.
The Republican square Dealer"
Makes Reply to Santa Fe Man.
WORDS With THE BARK ON.
Kansas City, Mo. Aug. 2
the Editor of the Capital:

% oS"iSl WV SSHt ioiSo III NduSdo
which seems plausible and on its face
appears to be fair and honest state.
ment.
Mr.. Ripley is one Of the ablest and
best Of the railway presidents of
America, but his statement, when
carefully analysed, demonstrates ad
mrrably to what extent a great man
can be prejudiced in the interest of
the corporation which he serves. For
instance, he discusses at length the
small interest rate earned and paid on
Atchison preferred and common
stock during the past 10 years, and
refers 10 two-cent rates as conhsca
ton of property, but fails to mention
the vital and important fact that not
S1.OO of cash was ever received by
the railway company for the Sl02,.
100000 Of common stock and prob.
ably not to exceed s4O,O00,OOO in
cash and securities was received for
the 4,OOO,OOU Of preferred stock,
which gives approximately sl76,OOO,'
600 of watered stock out of S215..
100000 of preferred and common.
He also states that Atchison com
mon ard preferred, which amounts to
S216,OO0,0O0 is now worth par on
the market, but fails to state that the
market value Of the preferred and
common stock within the past 10
years was less than s30,000,000,
which shows net gain to the stock
holders of Atchison of approximately
SlS5, 100000 through the increased
value of their stock in addition to
dividends which amount during the
last 10 years to a little over $780,.
100000 thus giving Atchison stock.
holders in ten years total net gain
of approximately s247.OOO,OOO all on
an original investment of approx.
mately s4O,O00.O0O.
Mr.. Ripley has raised a very inter.
esting question. Will the courts hold
that it is confscation of property if
the people refuse to pay dividends
on hundreds of millions of water rail
road stock? The ''two-cent fare or
as low arate as conditions will justify"
is only an incidental proposition. the
main question being to free Kansas
from the political pass and the dom
lnatlon of the railroads.
| am one of those who believe
that the railroads of Kansas can paw
splendid returns on every dollar that
has been actually invested in their
property on two.cent per mile basis
if they eliminate the free pass. 1t is
not, however, proposed to enact this
law without full and careful inves-
tigation of the whole situation and
unless this investigation discloses the
tact that the railroad companies can
pay good dividends on the money &C
tually invested in their property on q
two'cent fare basis, there is no dispo-
sltion on the part of any one with
whom | am acquainted to enact such
laws.
The men engaged in this work are
not, as Mr.. Ripley supposes, dema-
gogues and sensationalists. They are
as a rule the same class of men who
have worked faithfully and earnestly
during the past fewyears to free Kan
sas from railroad and machine domi.
nation in politics. They are men
who who were tireless and indefatiga.
Bile to pass the state depository law,
the board Of control law, the state
printer law and on the whole to put
the public business Of Kansas on a
sound, square, honest, business basis
instead of political graft basis.
These facts are based on CONNER.
cial statements listed by stock ex-
change which are considered unques.
tionable as to facts and entirely reli.
bic in every way.
W. r. STUBBs.