The Ellensburg dawn. [volume] (Ellensburg, Wash.) 1898-1914, 1907-04-02
VOL. XIV.

low and sell them high, stutiing their
wallets with projects.
These manipulators of the RAILWAYS
OF the country have taken hundred
million dollars of shares of one road
added them to one hundred million
sollars of shares of another and called
them, by the mere process of merging
worth five hundred millions. They
have issued securities to themselves in.
surlng their possession of the actual
worth OF the properties and printed
counterfeit securities representing the
water they have poured into the mer-
ger This stuff they have palmed off
on the public as the original and in
creased value of the roads and gath
cred in fabulous fortunes by the opera
ton.
And because the railroads were
being handled by the lawyers and
stock market gamblers to make satur-
MALTA of speculation; because it was of
more Importance to them to take from
fifty to one hundred points Of profit on
margined accounts in the Stock Ex-
change than to convey the traffic of the
country in hand and to provide for that
in prospect, the railroads themselves
have been going to the dogs. For lack
OF proper equipment, track inspection,
labor, ETC., they have been numbering
passengers and blocking freight to a
degree unapproached anywhere else in
the world and never before paralleled
even in the United States. We know
of a case of railroad paying 8 per
cent dividends declared to mark up
the price of the stock so that the gamb-
lers could unload at tremendous prOits)
which had a lever break in switch
tower and the whole system was tied
up because there was not an extra lever
ready to be put in. To make a book
keeping showing which would induce
the public to take the stock at more
than 200, the road was not buying nee
essary supplies like ties, rails, spikes,
levers and switches, 1t is doing this
thing at this very minute. If loco
motive breaks down, there is no other
available to take its place; the train
must be abandoned.
"Ths high fnanciers and stock gamb
lers have played their game to the
limit. They have made their tens ana
hundreds Of millions. But the public
has learned what is the maternity
there aren't cars enough, why the
trains don't run on time, why perish
able goods are not delivered at their
destination until they are rotten ana
useless, why the mortality from COILS
ions. derailments and other causes
climbs to record terrible s!aug hter OF
the public. And so in all the states
the citizens are rising to compel the
railroads to be operated for the people
Of the United States, not for the stock
market gamblers. And the railroads
will he so operated, the cries OF panic
NV tho Harrimans and Hills and Goulds
and Stickneys to the contrary notwith-
standing. .,
sTbere will be no destruction OF Ihe
prosperity of the nation. The ''pralfle
fire. will burn up nothing ont super
anous paper-the counterfeit securities
Of the high fnanciers. Fictitious val
nes will fall. The water may stay III
the stocks, but nobody Will DC paying
,ho oonnterfeiters a hundred cents Tor
what isn't worth copper. Inc crops
will grow. The mill and factories Will
t,ro ont their products. Inc wase-
earners will make their living ne
oigantic wealth of the country-tne
real wealth-will be here-eVery oo'
lar If it. Only the railway s'o0"
Goods business will langush'
"And perhaps it is not TOO muou ~ "
homo that before the public iinlSnes U'e
wnrk that will close the hlgn nna"o0