The Mankato free press. [volume] (Mankato, Blue Earth County, Minn.) 1879-1924, 1907-01-11
Curling the Greed Of Magnates.

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We do not wonder that Ed IL. Harri-
man is conveniently ill just at this time
sion is making an investigation into the
methods employed by railroads to com
bine their forces and unite in a com
munity of interest to the detriment OF
the public. The digging of the commits
sion will result in exposing great many
tricks of the trade. 1t is known HOW
that but Il comparatively few men con
troll the transportation lines of the coun
try, and if stringent laws are not en-
acted to restrict and prohibit this con
solidation movement which in late years
has had such a sweep over the country,
the ownership of the railroads will be
narrowed down to but two or three men
whose object will be to squeeze the last
drop of blood from the public. What we
need is more competition among the rail.
roads. If such were the case the car
shortage would soon become an unknown
thing, and rates would be cut material
~.
The people have no disposition to
hamper the railroads in their legitimate
operations. Far be it from the people
to demand legislation that will crowd
these highways of IN to the
wall, but they do demand the enact
ment of laws that will prohibit the rail
roads from a continued plundering of
their patrons. 1t is apparent from the
figures obtained from witnesses before
the interstate commission inquiry III
New York that the railroad magnatcs
are receiving more cash than they are
entitled TO-. For instance. it was brought
out that the Union Pacific showed last
July Il surplus of SOL 200, 900. The Ore
eon Short Line declared Il dividend OF
fifty per cent on its stock held by the
Union Pacific and also contributed out
of its general assets TO the purchase
money.
II developed that of the holdings of
the Hartman companies the stocks of
the Illinois Central, Baltimore & Ohio,
New York Central, Chicago & North
western, Chicago Milwaukee & st. Paul,
Atchison, Topeka & Santa Fe and st.
Joseph & Grand Island, a~ggregating in
value $l03, 293 ,74J, have all been bought
since July /, 1906. This vast sum was
wrung from the public in excessive and
eXorbitant freight and passenger rates,
and used to further solidify the great
railroad combination which is enimical
to the peoples interests. In the light
of events are the people to be blamed
for calling on congress and state legisla-
lures to put into operation laws which
will stay the rapacity of the magnates
Tor more gold and curb their power and
tyranny over shippers and those who
are forced TO deal with them.
The letter which Mr.. Hartman wrote
George Gould is significant, and exhib-
its the greed which dominates the pres
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A copy of this letter was laid before
the commission, and reads as follows:
2 The era of prosperity through which
we are now passing, has been marked
by less construction of destructive, COM
p%etitivc and non producing lines of trans
p~ortation than any former one; but
there has been great expenditure in
providing for improvements and addi-
ional facilities to the already existing
mes. thereby better conserving the in
srcsts of the public and the sharehold-
5 as well. For myself, I shall regard
e loss of your advice, which | have
in our affairs, as well as the per
al pleasure of having YOU included
them"
dr. Gould. it seems, has determined
support the construction of a new
road, the Western Pacific, which will