New-York tribune., 1907-04-24
ASKS FAIR TREATMENT.
President Finley Urges Square Deal
for Railroads. Egr

Memphis. April 23-In the course Of his speech
at a reception given in his honor by the Mer-
chants Exchange here to-day President W. W.
Finley OF the Southern Railway declared that
the results accomplished for the good Of the
country by the railroads in extending their lines
into unoccupied territory and seeking new re-
sources TO be developed in territory already oc~
cupied would have been Impossible had they been
hammered and restricted by a spirit Of popular
and legislative antagonisn and by repressivs
and restrictive laws.
President Finley spoke on the Importance ot
TRANSFORMATION to commercial development and
the dangers to commercial prosperity in legisla~
tion crippling the railways. The common car
riers are not opposed to legislative regulation
within proper limitations. he said. but there IS a
noint beyond which legislation ceases to be regu-
Iative and becomes destructive. Laws for the
regulation Of railroads. he said. TO be just and
aoI,itabls must afford full protection for tha
roads as well as for the public. He continued;
IT., ALWAYS Of to-day are working as earnest
y. for the development Of the territory traVeTsed
y - thayn as they have in former years Ihey
rScornize that in doing so they are adVahcins
tbeir own best interests IL Is not uhreasOhaOls
49, S 49,, - ask and expect the same measure OF
Ior LOT s,Inport that was accorded them in their
pioneer days
He referred to the systematic efforts OF ths
system of which he is the head, acting IN CO"
operation with the communities along its Inca
in the Southern states. TO advance the develop
rnent OF every locality in the section traVerseo
bv ii. He said that it had been the solo duty o>
the Southern Railway Company TO give its CO.
operation without any charge to every individ@
uaI and organized effort for the material and
social advancement Of the South. He added;
T. is constantly working to develop new re-
sources in the Southern field and TO bring men
seeking to better their condition into touch
with southern opportunities. This work Is 20 ba
continued. and the road IS to be mads. ~ pSs-
sibIe a more important factor in southern de-
veIopment than II has been IN the past IL ASS
from the Southern people only the support oH
public opinion. and from the southern legs
iatures only such wise and economically SOUND
conservatism as has been displayed by the Leg
islature OF Tennessee.
If the railways of the South are 10 continue 70
be the most efficient agencies Tor It's TnaterlaI
advancement. they must, in the immediate nut
ure extend and improve their facilities on =
scale that will involve the expenditure or large
sums of money. Practically all OF II must Do
borrowed. and borrowing power rests on % %a9u-
ity TO show 10 investors in railway securities
that the income over operating expenses. taxes
and fixed charges is sufficient to protect their
investments, and that future income Is not en-
dangered by adverse legislation or the prospect
Of adverse legislation The course OF the iegis-
Iotures Of Tennessee and South Carolina in de-
clininG to enact laws that would hamper railway
development will be beneficial not only TO those
states hut to this entire section OF the Union.
The benefit to these states will not be confined
10 the encouragement Of railway Developments
within their poluers, out vii SNtTilS ~ 'l-T
couragement of investments or all Kinds. Gap
ftaI is proverbialy timid. and always flows with
the greatest freedom into those enterprises and
into those localities where 1t is safest The best
/ advertisement that any state can have Is the
J widespread knowledge OF the fact that It's law-
makers can be depended upon TO give every
prOper protection 10 property and not 20 en-
bark upon policies that would endanger invest
ments The people OF these states will beneh.
by their conservatism. and believe they VIII
/ be found to be active and earnest advocates oe
J legislative policies in all the Southern states
/ that will insure 10 the railways OF this section
/ fair and Just treatment and freedom from such
restrictions as would hamper their ability to
/ so increase their facilities 20 keep pace With
\ the growing demands Of the South