The Hickman courier. [volume] (Hickman, Ky.) 1859-current, 1907-08-30
SEEK ONLY JUSTICE
PEOPLE HAVE NO THoUGHT OF
INJURiNo RAILROADS.
Justice Brewer seems 20 Loos At
Events Through . Glass Hinged
with Cooperation colors-
Democratic Position.

OrNNaNN aus NNHNhHHfH
Judge brewer Of the supreme court
has taken time by the forclock and
has decided against the reduction Of
-ailroad rates In advance of the ap-
zeal of the railroads reaching the ga.
rrcmo court la an address az MI
vaukcc before the annual meeting OF
The agents OF the Northwestern Mutual
Insurance company he said
There o. much said about 90 rail-
roads u d. popular pructicaao say
that they are very wicked, Tor IN
sance. like ne insurance companies
There has been a great deal 81 wrong.
such az granting OF special iaVora,
bad stock spcculalions. and the IKE.
uut say % you that. taking the earn.
lngs and the money invested In rail-
roads az a whole. there De- not fair
return ON the money invested. Tho az.
tempt 90 squeeze those Who built up
the railroads. and through them The
country. o. not right The men Who
Invested their money are entitled %
a reasonable rate u Interest
hut Judfe brewers conclusions are
not Justified b. the facts giycn by The
last report ue0sl 81 The Interstate
commerce commission on page % of
thar oficial uport Will D. found the
statement that. a. the result 90 that
years operations OF all the railroads
there VAS a surplus % tse0fi.iso.
after paying an Interest and dividends.
being an increase % tlg.1itiaa a.
compared with the previous year And
the report adds that
This steady. constant surplus from
operation since 1855 IL evidence ~ The
continued prosperity which attends
ne operations 90 railroad prosperity.
As the gross and net earninrs great.
~ Increased dur.nr 1886. and are stiil
lncreasing durinE 1897. aithourh the
oroFaiiuE expenses have sumevhai In.
creased ~ that the nct earnings are
not AZ larEc a. turuE 1855. the rail
roads ON the average are making
much more than crouFh to gay reason.
able dividends
Tho Union Pacific. for Instance. a..
clarcd dividend % ten pr cent on
BE- stock. and it De- said the Grcaf
Northern aud Northern Pacific are
earning ~ per cent after PAYING ln.
iefcst on bonds and other hted
charges Many other railroads might
- cited that are carninr enoueh to
paY much larger dsFidends than they
DO pas. N there vas space td point
out the oyorcapitaliraiion ~ most -
the railroads. aud how they are pay.
inF interest on vatered stock and
bonds. there would he lcsa cause 20
assert that on the railroads AZ q
whole there o. not fair return on the
money invested Efcry railroad
whose stock D. quoted shove gar De-
earning much more Than a fair inter
esf on che money Invested. ana many
OF those railroads whose stock De- o..
low rar. like the southern and RoCt
Island railroads. Tor Instance. would
pas large diyldsnds on a legitimate
capitalization
Everyone. except perhaps The So
ciansis and those who desire severn
menf Ownership, must wish tn see me
railroads prosperous. bat they 90 not
feel that they should D. called upon
20 pay "ail the trafrc vlll bear but
such reduced rates a. would aliow the
railroads a reasonable return uron the
money Invested ~ upon what they
would actually cost 20 replace That
a. the Democratic position and vili b.
the policy % that party vhen ontrust
"a with power Unreasonable railroad
rates viii be- made reasonable by state
and national legislation. and even
judge Brewer and The balance of the
supreme court. n hia brother Justices
view the matter as BE- does viii dis
cover On the end that public opinion
viii compel justice % the people a.
well as to the railroads.