New-York tribune., 1907-04-09
FAVOR UTILITIES BILL.
Low AND TVINS FOR ACT.
"Superrise Corporations" Sag Er-
Mayor and Former Candidate.

Cooper Union was crowded last night AT the
mass meeting 10 discuss the Public Utilities
bill now before the Legislature. Charles
Sprague Smith, president OF the Peoples Insti-
tute. under the auspices OF which tho meeting
was held. introduced ex-Mayor Low who pre-
sided. The chief speakers were William NJ
WINS and j. Aspinwall Hodges. Circulars we're
distributed signed by the West Side Henry
George Club. asking that nothing be done to in
terfere with the existence Of the Rapid Transit
Commission.
Mr.. Low said the Public Utilities bill offered
equal benefits 10 all
1t is just as fair to name rate for a fair
charge per pound of freight as it is to give rates
for a thousand pounds" Mr.. Low said. "It
be made fair. equal and uniform as the
fare for one person riding In horsecar.
THE commission Will have power to say un-
der this bill whether stock or new bonds may
be issued. A company that has issued bonds
and stocks for inflated values cannot give good
service to the city To the citizens OF New
York because it has discounted it's holdings for
the future and must pay too much out Of its
earnings to pay dividends on it's inflated values"
Mr.. Low said the system of holding companies
should be abolished.
''The personnel of the commission should com
pare with that OF the Supreme Court" said Mr.
Low. The members Of the commission should
receive large salaries, as large as that of a MEM
ber of the Supreme Court and should have long
terms"
Botn the state and city commissions. he said,
being appointed by the state, should be paid by
the state.
Mr. Ivins recalled some conditions which
brought about the demand for the Public Utili-
ties bill.
Mere rabid criticism OF corporations is one
of the most ridiculous forms of abuse" ne con-
tinued. Because there are bad corporations
does not make ii necessary to condemn all cor
pOrations: there is no more reason TO condemn
all corporations than to condemn all humanity
because there are some bad people in the popu-
lation.
''I would beg you and the newspaper editors
TO bear in mind that what is wanted In con-
trolling corporations is not retaliation, but jus.
tce. Corporations have grown fast and
powerful that they forget that they are Great
of the state. and Mr.. Gould forgot that
his railroad was creature of the state.
Whether not corporation needs punish
ment, all Of them need supervision. Corpora
tions should not be permitted to make one dol
lar represent four dollars I'm stock
Mr.. Wins said that the railroad companies
We're responsible for the Public Utilities bill by
conditions which they had brought about The
railways of the city, he said, were receiving a
nickel for each passenger carried, at a cost of
$40 cents. Adequate service by city railways
which Is provided for I'm the BILL he said was
not along the lines To please the railway COM
panies, but to benefit the people,
THE commission would say to the railway
company said Mr.. WINS speaking of its duties,
"'You have watered your stock to the extent
that the line OF the road in oath street is over
capitalized or inflated to the amount of $4,000
for half mile of track
I'VE do not want the Supreme Court To de-
eide on features OF the Public Utilities bill or its
application Moreover want no more gov
ernment by Injunction"
Mr.. Hodge said that conditions had changed
DO you know railway president in the coun-
try to-day who would dare to say. The public
be damned!' y the speaker said. The RAILWAYS
ne said' respected the opinion of the public