The Olneyville times. (Olneyville [Providence, R.I.]) 1887-1917, 1908-05-15

NJ" SNii hhO"H, ludl tue Tdls Oh
freight transportation In the United
States upon the greater portion OF the
necessities OF life is now so low as 10
be negligible quantity, and II it were
reduced TO nothing, probably few re-
tail purchasers would receive any ben
efit through any reduction of their
retail price.
"By the case, or carload, the price
charged for transfer OF a pair OF shoes
made in Lewiston, Me, TO Chicago,
1850 miles. is only cents. Does any
one suppose that If this rate were
either increased or decreased One-half.
the Chicago purchaser OF a pair Of
shoes made in Lewiston, would ever
discover any increase or decrease in
the price he is now paying for them
The freight rate on barrel OF flour
from Minneapolis 20 Boston. 1900
miles is 80 cents, and this rate re-
mains unchanged for long periods,
while by reason OF the fluctuations in
the cost Of grain from which the -four
is made, it's retail prize not infrequent-
ly huctuates as much as 81 or So a bar
rel; Is It supposable that an increase
or decrease Of 10 percent in this cur
rent freight rate would have the
slightest effect upon the retail price
of -four in Boston.
Will Be Helpful 10 3. & M.
"As | said in my opening, the New
Haven company has acquired, through
exchange OF its stock share for share,
about 10000 shares of the Boston &
Names common stock, a minority Of
about One-third OF the latter COM
panys yOtable shares. This exchange
Of shares has left the actual personnel
Of ownership in the combined proper.
ties Unchanged; and as some of those
who have exchanged their stock were
the largest individual owners In the
Boston & Maine and have now become
holders OF large-and probably the
largest-individua ownerships in the
New Haven, there would seem to be
good ground for the belief that their
attitude toward the Boston Il Maine,
and their potent voice In the admins
tration of the New Haven company s
affairs. will, in the future as in the
past be helpful and not harmful TO
the Boston & Maine, as well as to ev-
cry public interest that is dependent
upon or concerned in its successful
operation and development.
"It may be assumed without ques'
a minority as this will, under peaceful
and ordinary conditions OF the com
pany's affairs, control the election or
its directors and its policy; but the
fact nevertheless remains, that when
control by such a dominant minority
is found by the majority to be against
theirs and the public's interest, IL VIII
not be difficult TO arouse sufllcient
interest on the part of the majority 10
produce united action that will assure
them the fullest protection OF their
rights.
T therefore confidently believe
that IL self-interest does not dictate
q wise use of the power inherent In
this large ownership, there will be at
all times at the command OF the ma
iority an effective and coercive power,
sufficient for remedial purposes-not
to speak Of the reserve force OF the
Great and General court, which Is in
session for almost one-half or the
time and devotes the remaining half
to the discussion and arrangement OF
matters that are to come up at its
next session.
Much discussion has taken place
about the future possible acquisition
by others of the New Haven's present
ownership OF Boston & Maine stock,
and alarm has been expressed that Ii
and perhaps the control OF the New
Haven itself-may pass into the
hands OF other than New England in
terests. With the rapid extension of
governmental power, state and nation
al. over every detail OF the operations
and functions OF railroads, their own
ership has become the shadow and not
the substance OF their existence and
relation to the public interest.
Private Ownership Not Vital.
81 am firmly convinced that the
governmental relation with our rail
road corporations should properly be
gin with their creation and end with
the supervision and regulation of the
performance OF their public duties;
and that any attempt to go into ques
tions concerning their ownership
which is a purely commercial as vel
as private matter is repugnant to the
fundamental principles of our nation
ality.
IL therefore express, and with only
one reservation. my earnest belief
that so long as the state holds and ex
ercises the fullest power Of supervi
sion and regulation of the acts of the
public service agencies that II has
created. II is not of the smallest con
sequence what their private owner
ships may be. or how these private
ou.rarsbips shall be bought. sold OF