The Cairo bulletin. (Cairo, Ill.) 1???-1928, 1907-03-04
HARTMAN SLAPS
R00SEVELTP0L|CY
SAYS FAIR PLAY" WILL PREVAIL
IN THE END AGAINST THE
square DEAL"
DEN0UNCES HIS PROBE
BY the Interstate Commerce Commits.
sion--Declares Nothing New
Was Brought Out at Recent
Session.

Washington y. c. March 3E, II
Hartman today erticise he admir-
! sistrations square deaB policy as
demonstrated by the inters ate con
merce commission, aud predicted that
in the end tie old American spirit OF
1lir play would prevail, in discuss
ing the cenJ heag ing he said
There was not a single new po.nt
r ugh o"t i, the recent nq Try r
/ wa, simply reha h Of matter thai
was given wide publicity seven years
ago. This continual reform agitation
simply shows the animosity that eX.
lists today as1inst men and corpora
tons that Rave mad success. The
interstate commerce commission
could produce far better results ii the
members would try to cooperate with
the business interests cf the country
instead Of antagonizing tn m.
In view OF the unfair methods of
l4he administration as carried out by
the interstate commerce commission
there is no incentive for man to be
sUcCesSful but ! am sure that in the
end the american spirit Of old Of fair
play' viii prevail That is more to
the purpose than square deal We
may have square deal, but unfair
play. There seems to be a tendency
amCng all unsuccessful peopl 10 as.
sDH nj, ft1
Alton Charges previously Covered.
"All the SO called charges made at
the recent hearing in New York are
fully cover in the application in DC.
tobcr, 1900, for listing the Chicago 4
Alton railway securities in the New
York stock exchange and every point
+, brought out by the in' ergtate com
merce commissions the other day
was given publicity al that time
! This circular to which refer mon.
toned the fact that $3l 9SS.000 in }
per cent bonds were sold to the ssoch-
holders at G5, and that the amount.
$22.4H,177GG, that had formerly been
charged to income was properly charg
cd 70 construction II was stat d a
that time that the charter of the Chi
cago 4 Alton Railway company pro
vided for new construction. and that
the line had been surveyed. but had
not vet been constructed
1T cost the Chicago & Alton Rail
way company for the St Louis, Peoria
& North TN Railway company for
lif y-seyen miles about si2 600 600
There was expended on the property
about 22,000000, the proceeds Of the
sale of $3l 100000 of refunding IS and
the collateral trust bonds against
which $7O00.000 of the refunding IS
produc $2G 100000, making a total
of $90,O0OOoO.
Sets Forth Alton Issue.
AS against that snere were issued
of the Chicago e. Alton Railroad com
pany, he new company $22 000, 600 Of
SO per cent bonds, $20,000 o00 Of pre-
ferrcd stock, s20,o00.OO0 OF common
stock. and Si5 00O,0o of 3 per cent
bonds of the Chicago & Alton Rail.
road company's refunding SIS or a
total of $l07,O00000. To this might
be add about $S000,000 cf equip
mcnt trus notes. bat these latter are
being paid out of the income, so that
the amounts are withheld from the Sc.
curity holders until the cquipmeat
trust notes and bonds ar redcmmel
and. therefore IL is no. altogether "a
capital charge.
So ID would seem that for 100000
900 of securities iss cd, $9ouODHpa
has been paid ont There may be- be-
tween $4,000 600 and g. 5UoUn0 ob,ig3-.
tisns not inciHd in the above Ia
Guiding this would make The amount
of obligations Z date about SiIo.o"U.o1"
ins cad of $1o10ouooU our payment
TO security holders has not ircrcaSci. 3.
taking into account So 600 GOO OF now
capital put into fhc property
Increase in Interest Payment.
The annual increase iu tb. inter
est payment and dividends i- $500 900
at the mos after spending S23nuaUH4
ou the property. The business Ia
been increased threcfold hcraus Of
that increase in facihtics brought
about hy these expenditures
Pres uf Hartman alsJ pointed
u- that the Chicago d Alton listing
circular ISSUED in laHa referred ro 'he
payment 81 th. ae p'F cent dividend +
Iuou the preferred and common stock. +
'Vhe- This poiuf was 1r0I-lt o1f +
ar the New York hearing" d. said /
-the inter ta.e cemmerie commission +
e-s Thought -haE we're Developing /
some new and srtiing facts when /
as a matter Of fact the wh~ie thing is