The Guthrie daily leader. [volume] (Guthrie, Okla.) 1893-1996, 1908-01-16

able 10 Keep that intention In actual
practice. and there viii only be, 50
far as ] can see. one opportunity TO
recover even n small per cent OF the
result OF their manipulations. and that
Is for the public taxing authorities.
where their property is located ~ The
future to put them on the tax sched.
ula like they do the property of ordi-
nary people instead of letting th m
escape even the ordinary burdens Of
taxation as their own report shows
They are practically doing today and
when contemplate this one example.
a creature OF the year 1901 : am I'M
clined 10 inquire If Il would not have
bcen better 10 have TUNED on the
light six years ago.
ore more example OF suffering from
beiated sunshine:
Pacific Railroads.
In 1902 there existed five SO called
Pacific railroads Without taking time
with the fact that these properties
had largely been created by dcna-
tions OF public land and credit TO
the end ttat our people might have
the convenience and benefit of com
petitive transportation. go at once
10 the proposition shat SCR good and
sufficient. as wellas legal reas MS,
our people were entitled io have \ ,Ase
several lines of railroad maintained
as separate competing lines OF trans
p,u,ation
In 1902 a notice appeared in the
newspapers of the east lt racited
nat the directors of the Onion pa
cifc had authorized the issuance OF
one hundred million dollars of bonds
10 be used in purchasing the stock OF
the Sorthem Pacific. and other rain.
roads, ana day was fixed az which
the stockholders were called 70 vote
10 ratify on reject this act OF the d.
rectors at the time fixed, the meet
ing of the stockholders was held, and
the ratification of this act OF their
directors was made. and the succeed
ing animal reports show that the
Union Pacific Is a large owner of the
stock of the Southern Pacific system.
Yes. further than that. today It owns
largely OF the stock o ftwo Of the
other Pacific railroads, and an exam
nation Of their annual reports show
that through the ownership of stocks
and the iHterlocking OF their direc-
torate that they have so completely
destroyed competition that the ship
pers Of this vast country between the
Missouri and the Pacific are without
competition In the transportation OF
! freight and passengers.
And what Is the result? We are not
asking you to base your conclusion
upon our mere assertion A business
man will Invariably cOncede that re.
suits are the surest basis for correct
conclusions
People Need Relief.
We find that the Union Pacific IN
those few years increased its gross
earnings far above the rates of in
creased volume OF its traffic. the
conclusion is easily arrived at Wnen
, the per cent OF increased earnings
exceeds the per cent OF increased ton
mage. you only explain il by admitting
the Increased rate for the Transports
! ton OF ton of freight, and the re
suit Is that during these few years by
thus destroying competition and boom
4 Ia gthe earnings OF the company, stocf
OF the Union Pacific, which could read
! ny be bought for less than twent,
dellars ten years ago. was given sucl
dividend paying power that II has
since sold as high as one hundred ant
eighty dollars per share
And the time since 1902 has been
diligently employed by the lrcnziet
fnanciers who manipulate these deal.
in dsposng OF their stocks at thI
fancy prices made possible by these
unjust freight rates. until naturally
Z those stocks are distributed in small
holdings throughout the world whera
ever there Is an investor TO be dupel
by such conditions. and II in The futur
we are TO decide that the shipper hN
suffered long enough and Is entitlel
to competing freight rates on "a,
Pacific roads. and give him his jus
relief. We viii then realize that W
have made thousands OF honest nvcs
tors suffer
! win Hartman suffer- Certalnl
mott lie did not make those stocks 8
keep He made them TO sell and
\ ycu look az the stock register yo
will ind he has delivered the goods
And n an opponent OF Hartman h.
! access 10 the stock list OF his con
/ lpany, he wOuld have been just g
eager IN securing proxies IN the baitl
fer the coniroi OF the Union Pacific q
Stuvyestani Fish has been battln
with the same man through the proN
road for the control Of the lllinol
Central
1902 the Opportunity.
My friends. would not q iittle lin
light IN 1902 have prevented thi
condition which our Chief ExecutiN
tells as he Is In no way responsib
! for today? Had the light been tulne
. on when the newspaper notice al
! nounced the effort 30 control thei
other competing limos YOU would M
see the enormous freight rates whic
made possible the last annual repo
. Of the Union Pacific system; ami
brief what Is that ropartg
Gross earnings seventy eight m
} Hon dollars; net earnings fortyfiN
million dollars: deductions Tor inte
est on bonds. etc. eleven million dc
( lars. net, thirty-ionr million dollar
My friends, challenge him wi
! cares to differ. s.ther those who nr
NOTED this robbery or the public of
, cials. who failed 10 turE ON the lis
I al the right time, 90 dispute my stat
b mcnt that this thirty four million d'
, lars Of net proceeds IN single yea