Charlevoix county herald., 1907-03-23
RAILROAD
LEGISLATION
HEADS OF GREAT TRUNK LINES
CAJOLE, THREATEN AND
MOURN.
THE GOVERNORS OPINION
Since the Interview With the Presi-
dent Railroad Men Talk Ruin and
Panic
Damning Two-Cent Fares.


The panic of the railroad presidents
continues. First they beg. then they
warn and finally they threaten. Some
Of them are openly talking financial
disaster, others are throwing bouquets
at President Roosevelt, still others are
planning reprisals. Many of them open
~ favor federal supervision, but all are
4 unit in damning the state legislatures
with their two-cent fare and freight
rate bills. Now comes j. Pierpont Nor
gan's paper, the New York Sun, with
he biting satire, directed at the presi-
dent himself 1t says editorially:.
1T is worse than nonsense to talk
Of diminishing the service, of abandon
ing the fast trains, of abolishing the
communication system, the mileage
tickets and the hundred and one amen
tiles to which the public has become
habituated. Such tactics only betray
futile evaporation and denote an
attenuated imagination. The thing to
do is to expand the service if it is
physically practicable to do it; to treat
the public better than it ever was
treated before, and to go into bank
ruptcy with all imaginable grace and
affability."
"The people are running the rail-
roads," yelled Mr.. Gould, son Of the
greatest railroad wrecker" of mod
ern times.
A. B. Stickney, president of the Chi
cago Great Western railroad. makes
this terrible prediction "The people
are now laying the foundation firm
and strong for tremendous panic. A
decrease in the average rates of only
mill per ton mile" said Mr.. Stick
ney, would wipe out all the dividends,
and further decrease of mill and
third would be equivalent to all the in
terest on their bonds and other in
debtedness. Within six months wages,
which constitute about 60 per cent of
the operating expenses of railways,
have been increased fully 10 per cent,
and unless railway rates can be in
creased as much the leading railroads
will be forced into bankruptcy"
President James j. Hill, of the Great
Northern railroad. told the Sunberg
legislative committee, of Minnesota
that he would be only too willing to
nave the United States government
take over his road.
Then" said Mr. Hill. "the govern
ment would be obliged to engage in
another lottery to get rid of the ele-
plant"
Mr.. Hill was then asked what the
government would have to pay for
control of the Great Northern. The
witness replied that it would cost up
wards of $4,000 per mile to repro
duce" the road not counting terminals,
docks and other property. Counting
these, he said 1t would take about
100000 per mile.
With two demagogues running for
president or, rather, one running and
the other occupying the presidents
chair--it is dangerous situation for
business men and business companies"
said Capt. ]. T. Jones, of Gulfport,
Miss, president and principal owner
of the Gulf & Ship Island railroad, in
letter to officials here This corpor-
alton is capitalized at $6,000,O0O and
has bonds and other outstanding debts
of $7,275,000. President Jones is ranked
as multi-millionaire.
The "demagogues" referred to in his
letter are Roosevelt and Bryan.
Gov. Warner was one of the prin-
cipal speakers at the fourth annual din
ner of the Roosevelt club in Flint,
dealing mostly with the two-cent fare
bill now before the legislature. The
governor said that statistics showed
that lower fares meant more business
for the railroads and increase instead
of loss in revenue. The governor said
that legislation would pass to over
come the car shortage and obivate
such situation in the future.