The daily morning journal and courier., 1907-05-25
4 BUsYvEss G0TERHMEN1


 Governor Woodruff can justly be called obstinate in his insistence that business methods should prevail in the conduct of the peoples business. He first presented his views, which have caused such bewildering dissent in the halls of legislation. in his inaugural message He next formed the uncom- mon habit of going among the people of the state and telling them what he meant, and for this he was charged with lobbying and with violating the purpose of the constitution, which We have been told is that the governor should recommend and then hold his tongue. That this is not Governor Woodruff's view is now shown in his veto of a street railway bill of incor- poration on the ground that it offends against sound business judgment.
 When the house was about to pass the merger bill introduced by the New Haven railroad, Representative Gum offered restrictive amendment. He was asked why he should single out that corporation for punishment? When he undertook to amend in a similar manner the merging powers of the proposed charter for the East Ha- ven and Morris Cove railway, he was lagain asked why he selected that enter prise for punishment? When the New Haven county legislative meeting un- dertook to inquire into the expensive auditing habits of the county with the purpose of reducing them to some thing endurable, one of the new audi tors asked why the reform should be. gin with him and his associate? It is the judgment of Governor Woodruff that time has arrived when the state of Connecticut should take a conserv- ative attitude in the matter of over capitalization and be careful at the same time to protect the interests of the people in corresponding ways, He says so in his veto message, and we have not the slightest doubt that at the first opportunity some one will pop 1up and Inquire why this particular railway proposition should be selected as the one to be given wholesome medicine when all the others are in possession of similar privileges? There is always another time than the right time to enforce such business ideas, as the history of Connecticut tells.
 Senator Luther of Hartford brought down about his ears in the senate the politely expressed ridicule of his asso- ciates because he asked why public service corporation should be permit ted capital larger than is necessary to construct it's property, equip it for service and yield 1t sufficient working Icapital? It is because the proposed Icharter of the Windsorville Street Railway company gave 1t more than lenough capital than would secure these ends, and in addition the right lof eminent domain, that Gov. Iernor Woodruff drove his veto Ipen through it. We must admit 1 that this is not view which has pre- vailed in the past, but that affords nc defense for it's continuance. The di- rect effect of giving railways sweeping l rights in the matter of capitalization iS to increase the burden upon the inno. cent public, which provides them witt their business. As Governor Woodruff
 says in his message of this practice
 "If a corporation be watered it k obliged to earn a percentage on an un necessarily inflated capitalization tC lsatlsfy it's stockholders, and that mean' that the general public pays a sum un
 fair in proportion to the service ren
 dered." Rather unusual philosophy t
 flow from an executive pen, we vii
 admit, but we like it. We wish we hat had more of it in the past.
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