Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1907-06-26

and the people shall make between
themselves.
dc not believe that railroads
should enter into politics, and | look
confidently for the time when the rail-
roads will not he forced to go to a.
state or federal capital TO save thcm-
selves from dangerous legislation.
That time will come when the people
and the railroads bring to the settle
ment of their differences the same
common sense that they bring to tho
settlement OF their private disagree
mcnts.
Employees and Investors Associated.
The one and onc-half million cnl-
pluNes of the railroads and the stock
holders are closely associated and their
Interests are Identical. You ann in
lure one without affecting the other.
There IS a total stock issue on rail
roads Of about $6,650. zoe. 900, of
which amount $4.150,000 900 Ia divi-
dend paying stock, and $4,000. 000. 600
Is non-dividend paying stock. The
stockholders receive annually about
S240,O00, geo as dividends, which is
DIS per cent on the total dividend
paying stock, and but SO per cen on
the total stock issue Of the railroads.:
while the employees receive annually.
in monthly installmcnts. $S40, 600, 600.
which is equal to a dividend OF 1916
per cent on the total railroad stock
capitalization OF $3.50. 900. 600.
An employe earning 5000 on a rail-
road Is receiving an income equal to 3
per cent on SIS, 600, and has a stake in
property equal to an Investment OF
that amount in 6 per cent securities.
An employe who earns $500 per an
mum has an income cQual to an income
from $50, 000 of s per cent bonds or
stock. and so on through tho list OF
railroad employees.
The railroad employees are am in
t~etligent class of citizens; and as the
railroad question, now being 80 vigor-
ously discussed by the legislatures and
the people, Is a campaign OF education
which is the only method of solving
such a problem with fairness To all
interests believe the voice OF the
employees. individually ana through
their organizations. will be steadily
heard against unjust laws, or laws that
will unjustly injure their profession
and retard the proper development OF
the country, which means constant and
increased employment to a greater
number of men, and which furnishes
safer tracks and instrumentallties In
handling the passengers and the com
merce of the country.
In point of fact, the thing hat tn,
shippers and the people Of this country
now desire is not so much reduction
WI aus is II - HNtANl " NlAts I Nv
people have a right to insist that theii
service shall be constantly improved
| do not believe that the railroad man
ayers OF the country will refuse "a
treat with the people, through their
representatives In congress-, openly and
fairly on the question of how the best
result may be brought about, nor hesi-
tate to endorse a Legislative policy that
promises better conditions.
Railroad managers viii not stand in
the way of lust Legislation merely be-
cause such legislation might have an
adverse effect on railroad securities in
the market. We all recognize that
the true condition Of Wall street is of
supreme importance to every section
Of the United States. Without Its
agency we can neither build. extend
nor improve our great railroad prop
critics to any large extent.
The leading financial interests in
New York and other money centers,
are coming to realize that the only
true basis of public confidence in us
and our securities must be found In
closer and more cordial relationship
between the people and the railroads,
and that the strong arm of the govern
ment Is necessary to accomplish the
most satisfactory results.