The semi-weekly messenger., 1907-03-22
WILMINGTON, N. c.
FRIDAY MARCH p, 1870"
puTy OF TRUE DEMOCRATS.

cnt ont some of its passenger trdlna
west of Atlanta after March Path. We
look for similar statements as TO some
of the local trains in this state. Rail
roads can't be expected TO run trains
that people do not patronize enough II
pay the cost of operation. AS the legs
lature has reduced the rate of passcn-
ger fare of course the cost Of operation
in proportion to receipts will be III
creased. 1t costs as much to ru" a
passenger train on which 2 1-4-CeEt
fare is charged as one on which The
rate is 1-4-cents.
We believe in government control OF
railroads but we do not believe in car
rying the idea to the extent Of forcing
them to run their trains at a loss TO
the companies.
Every stockholder in a railroad is
entitled to a fair profit on the money
he has invested just as much as is
every other person who puts his money
in any kind of business. All are en-
titled to fair profits if they can be
made by legitimate conduct of the bus
mess, and any legislation which tends
to cause a business, whether by a cor
poration or an Individual, to be con-
Quoted at a loss or without fair profits
amounts to confiscatiOn of the property
of the investor.
The parties who are crying down
railroads and corporations these days
seem to be imbuad with the idea that
all corporations are the enemies nf
"the people, and that the chief aim
and object of corporations is to grind
them down. They forget that corpor-
ations are nothing more than aggre-
cations of individuals who for cenven-
ience and the better handling of busi-
ness join forces in a common undertak-
ing. You can't hurt the corporation by
unjust attacks upon it; you injure the
individuals who have their money IN
vested in the corporation.
We have case in point right here
at our own doors. Who suffers in the
present slump in Atlantic Coast Line
stocks, caused chiefly by the animosity
toward railroads demonstrated BY the
anti-railroad legislation in this state
and SO many others? It is not the cor
poration but the people who own the
stocks and bonds of that COMPANY
many of them widows and orphans Of
our own state whose sole means Of
support is the income from the money
invested in the securities of that cor
poration.
The idea with many is that all the
corporations affected by recent leeis-
lation are foreign concerns which have
come into the state for the purpose
of making money off the people. Sup
pose this We're true; is not the foreign
corporation Or individual who brings
money into the state and invests it
here in the way of developing the state
and adding to its wealth entitled to fair
play? Is it justice or even common
sense to place such obstacles in the
way of management of such invest
ments as to make them Improbable
to the investors? Don't our people
want outside money brought into the
state to aid in its DEVELOPMENT? Can
they expect that to be done if thev
stand on the state line and wave red
flag in the face of every would-be in
vestor as he attempts to cross the
border?
But it is not true that it is the
foreign corporation and the foreign i'll
vestor alone who is being hurt by this
anti-corporation crusade being waged
by a certain set of our people; nor is
it foreign money alone that is being
kept out of investments that would
increase the material wealth of the
state. Those of our own people who
have already invested are finding their
fortunes depleted, their estates grow
ing less with startling rapidity, and
others who have money which they
wish to invest in home enterprises,
seeing what losses those who have
heretofore made such investments
have already suffered and what still