Ottumwa tri-weekly courier. [volume] (Ottumwa, Iowa) 1903-1916, 1907-06-01


ting lines Of transportation. Subject
to first giving to the Government the
power of supervision and control
which / have advocated above, the
law should be amended so that rail
roads may be permitted and encour-
aged to make traffic agreements when
these are in the interest Of the gen.
eral public as we'll of the railroad cor
porations making them. These agree
ments should Of course be made pub
lie in the minutest detail, and should
be subject to securing the previous as
sent Of the Interstate Commerce Com
mission.
Advances Square Deals.
The movement to regulate railways
by law has come to stay. The people
Of this country have made up their
minds-and wisely made up their
minds-to exercise a closer control
over all kinds or public-service cor
poratfons, including railways. Every
honestly managed railway will gain
and not lose by the policy The men
more anxious to manipulate stocks
than to make the management of their
roads. efficient and honest are the
only ones who have cause to oppose 1t.
We believe In steady and healthy
progress stand unalterably for the new
era of the widest publicity. and Of fair
dealing on the part of railroads with
stockholders. passengers, and ship
pers. We ask the concent Of no man.
in carrying out this policy; but we
gladly welcome the aid Of every man
in perfecting the law in It's details, and
in securing its enactment and the
faithful observance of it's wise provi-
sions. We seek nothing revolution.
airy. We ask for such laws as in their
essence now obtain in the staid old
Commonwealth of Massachusetts:
such laws as now obtain in England.
The purpose Of those Of us VINO SO
resolutely believe in the new policy,
in its thorough carrying out and in
sense punitive or vindicive. We would
be the first to protest any form OF con-
| f1scation Of property. and whether we
protested or not, may add that the
Supreme Court could be trusted in any
event to see that there should be moth
ing done under the guise of regulating
roads to destroy property without just
compensation or without due process
OF law. AS matter of course, we shall
punish any criminal whom we can con-
Wet under the law; but we hope no
intention of confounding the innocent
many, and the guilty few by any Ill
Judged and sweening scheme Of ven.
geance. Our aim is primarily to pre-
vent these abuses in the future
Wherever evil doors can be, they shall
be, brought to Justice; and no Grim
inal. nigh or low, whom we can reach
will receive immunity. But the rights
of innocent investors should not be
jeoparded by legislation or executive
action; we sanction no Legislation
which would fall heavily on them, in
stead Of on the original wrongdoers OF
beneficiaries of the wrong.
Raps Imitation Of Securities.
There must be no such rigid laws al
! will prevent the development of tn
country and such development can onl,
) be mad If investors are offered an am
! pie reward for the risk they take. w
would be the first to oppose any un
) reasonable restrictions being places
upon the issuance Of stocks and bonds
for such would simply hamper TIL
growth of the United States; for
railroad must ultimately stand on It
. credit. But this does not prevent GU
demanding that there be lodged in tn
. Government power to exercise q jea
!, Gus care against the imitation of sc
!. curities, and all the evils that come il
!. its train. The man who builds a grea
= railway and those who invest In
= render great public service; for az
; equate transportation facilities are
r. vital necessity to the country. We ia,
q or full and ample return to such men
\. but we do not favor a policy of e.
= plotting the many for the benefit of tn
q few. We favor the railway man VIII
! operates his railway upon straigh
!; forward basis, from the standpoint {
L permanent investment, and who ha
a an interest in It's future
d we are against only the ma
I. who cares nothing for tt
a property after his speculative de-
n in It's securities mas been closed. W
favor the railway manager who keel
in close touch with the people alor
his line rather than in close. touch wit
II the speculative market; no operat'
I, his line with Wow 20 the 'advantat
ID he can legitimately get ont Of his ra
le way as a permanent Investment
e. giving fcir retrrn to TIE stcrklc;de
ls and to the public good service wi
OF reasonable rates; who does not 0
OF erat. his road with u risw to the tie,
IN porary speculative advantages While
% will follow capitsllizing an uncerta
a future and unloading the securities {
OF the public. We wish to make it to Il
te interest Of the investor to Put b
Us money into the honest development
az the railroads, and therefore we wi
le to discriminate against the man WI
ID while enrlching himself, lays upon t
H. future owners and patrons of the ro
TX and above all upon the honest M
a. whose duty 1t may become to opera
se the road, burden Of additional de
al without adding correspondingly to
e actual worth. Much is said about t
y, inability of railway presidents
er agree among themselves as to VIII
" policy should be advocated and VIII
us plans followed in the effort to wo
" " cut the problems which now prese
III theuSeJrss In so far ns the law