The Idaho recorder. [volume] (Salmon City, Idaho) 1886-1927, 1907-04-04

OF earnings so that they might doub-
10 dividends over night after they
had gone long OF stocks and, sell.
Ing the next day on the rise, put
tens and hundreds OF millions OF
gambling profits into their private
pockets, They have seized roads
that were legitiuately capitalized,
multiplied their stocks and bonds
several times, issued the bogus secur.
tiles To themselves or their sypdicates
at low price and then unloaded
them on the public Eat the top
They have piled up earnings into
huge surplus which ought to have
been used for buying locomotives,
cars and rails To handle the growing
traffic, but which they have lent TO
themselves to buy other stocks low
and sell them high, sturilna their
wallets with the proceeds
These manipalators of the railways
OF the country have taken hundred
million dollars OF shares Of one road,
added them to one hundred million
dollars OF shares OF another and called
them, by the mere process OF merg.
Ing, worth i've hundred millions.
They have issued securities TO them
selves assuring their possession OF
the actual worth of the properties
and printed counterfeit securities
representing the water they have
poured into the merger This stun
they have palmed OF on the public
as the original and Increased value
OF the roads and gathered 10 fat ulous
fortunes by the operation. And be.
cause the railroads were being hand.
led by the lawyers and stock market
gamblers u make saturnalia OF
speculation; because II was Of more
importance 10 them u take from
fifty TO one hundred points Of profit
on mareined accounts In the stock
Exchange than TO convey the traflic
OF the country In hand and 10 pro.
vide for that In prospect, the rail.
roads themselves have been going 10
the dogs. For lack OF proper equip
ment, track inspection, labor, etc,
they have been numbering passengers
and blocking freight To degree un.
approached anywhere else In the
world and never before paralleled
even In the United states. We
know case 1f railroad paying )
per cent dividends tdeclarcd To mark
up the price of the stock so that the
gamblers could unload nj tremendous
protts) which had lever break In u
switchtower aud the whole system
was tied up because there was not an
extra lever ready 10 be put In To
make bookkeeping showing which
would induce the public 10 take the
stock at more than POO, the road was
not buying necessary supplies like
ties, rails, spikes, levers aud
switches II Is doing this thing at
this very minute. II locomotive
breaks down, there is no other avail.
able to take Its place the train must
be abandoned
The high tinanclers and stock mar.
ket gamblers have played their game
TO the limit. They have male their
tens and hundreds OF millio r. Hut
the public has learned what il tile
materially there aren't cars
enough, why the trains don't run on
time. why perishahle goods are not
delivered at their destination until
they are rotten and useless, why the
mortality FROM collisions, derailments
aud other causes climbs To record a
terrible slaus hter Of the public. And
No In all the states the citizens are
rising Ia 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 by
tie IIarrimans aud Hills and 6oulds
and stickneys 10 the contrary not.
outstanding.
There will be no destruction OF ths
prosperity OF the nation. The
prairie lire" will burn Up nothIns
but superiious paper-ihe counterfeit,
securities OF the high iInancier Fic
titicus values Viii fall. The water
may stay In the stocks, hut nobod,
viii be paying the eounterfeiters ;
hundred cents for what isn't worth
copper. The crops will grow. The
mills aud factories will turn out theI
products. The wage.esruets vii
make their liyiuas. The gIganti,
wealth Of the country the res
wealth-will be here every dollar o
H. Only the railway green-good,
business viii anguish.
And perhaps IL Is not too much I,
hope that before The public Ilnisbei
the work that will close the higi
I n.