Wood County reporter. [volume] (Grand Rapids [i.e. Wisconsin Rapids], Wis.) 1857-1923, 1907-11-28
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A deed of bargain and sale from the
Norfolk and Southern Railroad Company
to the Norfolk and Southern Railway
Company, conveying all of the rolling
stock and other property to the latter
concern for a consideration of $40, has
been filed at Norfolk, Va.
That railroad building in the United
States has reached it's maximum under
existing conditions, and that business is
growing five times as fast as the mileage,
is the latest pessimistic view announced
by President Hill of the Great Northern.
He says further that there is no money
to invest in railways in view of the atti-
tude of the State Legislatures and of the
national government in passing regulative
and restrictive measures.
IF the present pernicious legislation
against railroads is persisted in, and more
particularly the enforcement CT the p
cents-a-mile passenger rate, /, as a rail-
road president, say that it would be bet
ter to abandon an passenger trains and
close all the passenger stations in the
United States than continue the running
of them at the expense of the stockhold-
ers. The passenger business is now car
ried on at loss, and to this, 2-cents-a-
mile legislation / attribute IN no small
degree the present financial depression in
the United States" This is the language
said to have been used by George j.
Gould, president of the Missouri Pacific
railroad and the owner of a controlling
interest in a vast number of railroads
throughout the country. Mr.. Gould has
hs' oil
sence in Europe, where, he said, the peo-
pie were timid about investing in Ameri-
can stocks in view of the recent hostile
legislation against corporations. He said
that among the reasons to which he at
tributed the late financial panic was the
terrible verdict against the Standard Oil
Company for rebating. He thought there
was no comparison between the railroads
of this country and those of Europe, al
though there were some pretty fair ones
in Germany.
The report of the Erie railroad for the
last fiscal year, which is now made pub
lie, is remarkable in several respects, but
chiefly in the statement that not single
passenger out of 24,199,723 carried was
killed during the year. AT the same time
there was a reduction in the cost of OPP
Grafton and more passengers were carried,
at less rate per mile. Wages were in
creased million dollars in the aggregate.
In spite of the big increase in wages, the
road made gain in net earnings Of near
ly 100000, the total being $16,171,-
1856.
The Georgia State Railroad Commits
sion has issued an order calling upon the
Central of Georgia railroad and the
Southern Railway Company for full
disclosures touching the sale Of the stock
of the former so far as the facts may be
known to them or their companies or APP
pearing in the books Or documents in their
possession" 1t has been charged that
the Southern Railway Company owned a
controlling interest in the Central Of
Georgia, contrary to State law prohib-
iting one line from owning stock in 6
competing company, and it is the purpose
of the commission to establish the fact
if such is the case.
All the franchises granted by the
Cleveland (Oh.o) Council for 3-cent fare
street car lines have been declared lille
gal because they were granted prior to
the date upon which Mayor Johnson be-
came financially interested in the low-fare
companies, but the court holds that his
action in approving the extension ordi-
nances was contrary to the common law,
which does not permit one to act IS agent
for the public in making a contract
affecting his private interests.