The Brownsville daily herald. [volume] (Brownsville, Tex.) 1897-1910, 1907-12-23
OPINION OF
B. YOAKUM
Article on Railroad Situation by
Magnatc.
Must Be Closer Relations Between Rail-
roads and People, Government APP
prOvaI Safe and Sane Substitute
for Federal Ownership.

last week contains an aitiCtC ny
F .Yoakum, the executive head OF
the Rock Island and Frisco sys-
TENS. entitled : Fhe Railroads Op-
portunity - which is of wide in
terest in Texas, where the writer
is so we'll known, not only as ma
tive of the state, but also by reason
of the fact that it was in Texas
that Mr.. Yoakum first gained prom
inence as railroad president.
The article has been very favor
ably commented upon as the ex
preston of a fair-minded railroad
Official, and is of peculiar interest
on account of the new ideas which
it embodies on the subject OF the,
relations between the railroads and
the government and the people.
Following are some extracts from
it:
Any man responsible for a cor
poration's policy who can not read
the signs of the times sufficiently
well to see that there must be a
change in corporate procedure IS
blind to what is going on about
him.
The policy which has been pur-
sued bv the Federal Government,
while causing a heavy shrinkage OF
security prices. bringing loss to
many people and temporarily de
pressing business. has undoubted-
! ly been instrumental in preventing
National disaster of far greater
magnitude than the present period
of tension and unrest -
Mr.. Yoakum was the first of the
great railway managers to realize
as he did some years ago, that there
| must be a closer relation between
the people and the railways, and
supervision by the Government III
some manner, and that this super
vision should be fair to both the
railroads and the public they serve.
Of this he says:
The new State and National
legislation will revolutionize the
methods of solving our transporta-
ton problems. Under it the rail
roads will have an opportunity tc
become important factors in for
mulating and putting into efec'
: fair and equitable rates and reg
ulations under an agreed working
plan that makes. for close Co opera
: tons and mutual protection to thu
public.
THE earnings" he says, mus
be sufficient for the railroads tC
meet all legitimate requirements tt
develop the country's traffic, and
at the same time, give fair returl
to the owners.
y In speaking of retrenchment ant
d the necessity for abandoning al
n new improvements and maxim
+ only expenditures necessary fo
If safe and proper maintenance of til
e properties, he says:
This forced retrenchment, con
ing as it does at the beginning {
: winter, must make a serious di
ference among a great mass of tn
wage earners of the country. O
account OF the exceptional prospe
- ity Of the last few Yeas many
them have grown accustomed to
more luxurious way of living ths
they enjoyed before. To be force
n to economic will be unpleasan
TO say the least.
d Looking forward to better tim
he says:
q we shall emerge from our pre-
. ent disturbances with clearer II
~ Outstanding with the Governmer
= a closer knowledge of orr respo
~ sibilities to our stockholders. wi
Nc our railroads and corporate pro
= critics, worth the money, and b;
:, ed on their actual earning capacii
!: etc"
III Speaking of Government contr
regulation of ownership, he sa.