New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-04-21
WALL STREET SCORED.
DIR. MERRITT CAUSTIC.
Skinner of Cream of Enterprise
Defends Utilities Bill.

| ndT ASSOCIATION at DelmOnicOs.
The cry against these bills" he said does
not come from the operating departments Of rail-
roads or public service lighting companies to
any great extent. 1t comes from the financial
distriet-from what know as Wall Street
! a region IN which men deal and speculate IN
profits; where they hold the skinner and take
| OF the cream OF every enterprise
| All the wealth here is produced outside. Our
FARMS and factories and mines and quarries and
| water powers are making a ceaseIess effort to
| add to the greatness and the spIendor OF this
imperial city Sometimes gentlemen who specu-
late In profits imagine that they are doing busi-
ness This is a harmless haIIucinatfon'
/ Inc AsSemblyman said that the most irnpor-
tant problem before the world to-day, more mo-
mentOus than the Russian revolution was thas
Of the relation Of the people in their corporate
/ capacity to the public service corporations. The
enactment OF the Public Utilities bill. he de-
| clared, would do more than anything else thae
/ could at present be done to settle the public
mind and to do away with the "unreasoninx
and unreasonable attacks OF the misinfOrmed or
partially Informed upon those interests which
are affected"
| FRUITLESS LEGISLATION
Reviewing the theory OF legislation as an exs
preston OF the peoples viii. AssembIyman Msr-
rttt said:
There Is no more frutless effort than that which
IS exhausted in an attempt whether successful or
Il is not SO important whether a bill pass as that
PTstIV % W b 1TGIasE f1 R t5prSSSlon S or the truth
the decisions Of our courts efforts to apply to
hizat1on some of those primary commands
written c Of old on tables Of stone briefly stated
eovet" or Thou shalt not bear false witness
Then the speaker made plea for the indf-
vidual. saying that the future would have moro
n will
the obligations resting on the individual "ths
obligation OF service. the obligation OF obedi-
ence. the obligation OF usefulness. than with a
discussion and assertion OF the rights either oc
individuals or governments"
He went on:
In the discussion which has been had and which
known as public utility measures in this and oti.sr
states states certain things must be borne in mind
tain thing, it delegates part OF its sovereign
power to a corporation. because for sufficient
IN IN relation TO which the franchise is granted as
many Of the rights Witch iniividgais have unss
the law They not vested rights in the sense
IN which we use that term They are Quali6ed BY
rience may show to be necessary TO protect ths
TSsessS Th GBS5,,o1 oT 53s people Pies se1ssai
limited or unlimited has been conferred but
tions is in fact administered in way which Is for
sected fs Ss''a'e ." 'hs whole OF al Of the state
The public service bills now before the Lesfs-
who have corporate rights 10 conduct railroads and
9SS Puotic f ~, utTes are NOT me masters nor the
The commissions to be appointed to be the
the members Of the board of directors representing
that interest and to have in addition The mower n
direct where necessary 10 preserve the public in
the public has an actual interest.
He then took Up the various criticisms OF the
measure.
REPLY To CRITICISMS
OF these he said in part:
In criticising the bills themselves the opponents
OF me measures have made particular objection
ernor the power to remove commissioners Vit5ous
abaT b6 ~ n action by the Senate or any
the responsibility may be centralized.
government They must perform the duties of
their SfflGe haying in mind their Immediate
set up as court TO scrutinize the legal questions
They are part Of the adn1inistratiye force Of the
to do, the things which form their duty in an
affirmative manner. This not be the case X
diatey responsible 70 some power by which they
Tn, second principal objection that has been
spechc method OF court review over the OrdeFs
it did not provide It would still be the law that
any act Of the commission which Is unconstitu-
10 tell any lawyer how he may get into court oa
ANY substantial remedy to which corporations
entitled be secured for them through tho
are demanding a right to review by a specific
e'a4a By appeals 'aS no only IN S R 0s 0s
remedies TO which they entitled, but also upon
matters 1,s Of form for the & purpose OF DELAY
appeal which the people OF the state take ad-
vantage OF frequently, They may appeal to the
Legislature. the representatives OF the people,
provided the acts of the commission oppressive
The appeal for which they ask thrOugh the
right expressed IN these statutes. might take years
ItSls. however the belief OF the trainers OF this
bill that the most important thing to make this
g. ~ EI,,J tbt vvIP5sr tts orGarS SsI ,
corporation shah Immediately begin 20 obey 1t is
by these bills Will act n fo0iish or unwarranted
manner IL IS not possible TO suppose that huC
ever violate the constitutional rights OF the cor
pOratiOns or any of the people.
No will disagree with when I say that
an ideal way to get at this subject would be to
enact statute. containing all the substantive
ties ana ODIiSauonS or All corporations deriving
their powers from the state subdivision
thereof and, having enacted this statute and
pealed all other statutes IN any way conflicting to
constitute commission or commissions to that
this law was obeyed- Doubtless this will some time
The third objection. which has been greatly dweIt
upon Is that the Legislature has constitutional
right TO delegate such broad powers to any
mission think IL is the opinion of most lawyers
that the constitution is broad enough that the
powers sought TO be given can be delegated
The corporations are complaining that they
asset the value OF the franchises They should not
be permitted 70 do So unless might be for the
the FRANCHISE tax department ana under the Oper{
tiOn of the Franchise Tax law. Whatever induca-
porations doing semi-pubic service II Is sbsrS -
permit them 70 take a valuable gift, estimate its
value as an asset and then expect the public 20
My contention Is that the use and benefit OF tbs
value OF franchises which Is In fact the eontTibU-
should be returned to the people either in service