Bluefield evening leader. [volume] (Bluefield, W. Va.) 1906-1911, 1907-07-05
Public Opinion
REArING Tnr wmrnLwIND

Since the beginning OF the anti
slavery agitation which has been felt
throughout the country, Tho Dis
patch has repeatedly warned those
who have taken an aggressive part
in this mtoxication against the day
of reaction And now. indeed It
would seem that that day is here.
when six O'Clock struck last night.
thousands of men and hundreds of
teams folded tents and railway
building in West Virginia has. for
the present at least come to stand
stll
Tn different railway systems OPP
Grating in West Virginia had per
fccted plans on the nrst of January
1907, whereby they would spend
within the ensuing twelve moths
over forty million dollars i'm double
tracking, constructing extensions
and purchasing additional equip
ment. The expenditure OF this sum
was necessary in order to properly
serve the public ana take care of the
. freight that would be offered for
shipment The roads did not have
sufficient cars i'm which to move the
traffic. nor were their trackage ia
cilities equal to the daily demands
made on them. They were COMPEL
ed to have more care and more
tracks in order TO handle the pub
lies business. This required the
expenditure of forty million dollars,
and this sum must i'm some way be
secured A railway company can
only SECURE additional capital by.
selling is stocks and bond If there
is no market for those securities
the railroad company can get no
money. Something has happened to
the bond market it will not take
these bonds. and the railway com
panies have failed to get the money
and as result all work has been or
dered suspended July LIST
What has happened that makes it
impossible for the railroads to Sc
cure new money? There has never
been a time when the business of
carriers was as good as it is now
Their tonnage is increasing. they are
daily offered more than they can
haul, their capacity is overtaxed
and the gross income is larger than
ever before
Their problem Is not how to Sc
cure business, but how to provide
for what they have and will be re-
ceiving With this tremendous traf-
nc to be moved, and gross earnings
increasing from day to day, the cred
it OF these companies should he
strengthened, and in the ordinary
course of things they conld secure
all the money nevessary for their
purposes But instead we have the
anomalous condition of an impaired
credit upon an increasing volume of
business Heretofore these com
ranies have been able to secure vast
sums of money AT reasonable rates,
when their earnings were far less
than now. There must be and is a
reason for the investor refusing at
This time 10 put his money into rail
Dad properties Men will not in
vest i'm railroad securities an the
present time. owing TO the open hos
ulity OF the national and state gov
rrnments to railroad enterprises
That the national and state admin
isIauons are hostile to these con
Germs is expressly denied by the ad-
ministrations, but it exists neverthe-
less And to point out and to spec
ify 10 the public authorities the hos
tile attitude they take 10 is only nee
ossary to call attention TO some of
the things they have done and per
mitted to- be done fin West Virginia
the state administration has increas-
cd and is still increasing the taxes
ON railroads far beyond their reas-
enable and proper share The rail-
roads are assessed in This state at ann
oNtrayagauuv high valuation over
and above the valuuous of other
property Zoo the state. thereby maxi
ing che railroads pay about forty