Daily capital journal. (Salem, Oregon) 1903-1919, 1908-04-18

n OK, twelfth and Leslie.
fits and dividends on fictitious cap
itallzation.
The people can cut all these graft
Ing processes and build the Salem
and Stayton railroad as a business
proposition. as they would build a
mile of fence, a cement sidewalk, or
a street.
The people who take the stock un-
der an honest management can be
the owners Of the property and II
can be run for their benefit along
the lines THAT WILL PRODUCE
THE MOST BUSINESS AND AC.
CONIAiODATE THE MOST PEOPLE.
If such a line can be built from
Salem TO Stayton. and we do not
see why Il cannot Il will be the first
OF series Of such lines that can all
be built and operated on the same
plan.
The country from Salem 10 Sill
verton will support such a line. The
country from Salem to Dallas will
support such n line. SUCH LINES
WILL BENEFIT THE OTHER
TOWNS JUST As MUCH As THEY
/ WILL SALEM.
What Is needed Is public senti-
ment and public confidence In the
short terminal lines as the best
means OF developing the towns and
/ the country and management
that will protect the small investor.
There is no reason under the sun
why the owner OF Ave acres, or one
hundred acres or Ave hundred acres
OF land cannot become a stock hold
or I'm such road for his own bene-
| At
There Is no reason why a bust
ness man cannot be a stakeholder In
enterprise that WILL. DO MORE TO
BUILD UP TRADE IN EVERY
COMMUNITY than any other means
that can be employed
Young men who want 20 see OPEN
ings for business. and want 20 see
the country on up with people and
develop more ranidly In Eve years
THAN IT OTHERWISE WOULD IN
TWENTY YEARS, FAVOR ELEC-
TRIO LINES.
Why shall we wait for the man
'nulators or high finance and mill
lionalres and money-kings 10 do for
us what they viii never do when
they can make more money keeping
the money out OF circulation
LET us HAVE CONFIDENCE ~
THE MEN OF SMALLER MEANS
I'm our communities who are active
I'm business and who make money by
their energy and brains and indus
try instead of relying on the grasp
Ing plutpcrats of Wall Street
The plan for constructing the Sa-
lem and Staytou electric railroad
that has been endorsed hy the Salem
BOARD OF Trade. the StaytOn Com
merclal club. ana by the people of
Aumsville Is perfectly fair aud just
Il Is a nlan DEVOID OF ALI
THE MYSTERIES or HIGH I'll
NANCE and that Is so plain and
ed1are there Is no deception or tricky
scheme possible under its operation
There viii be no great stoCk-wa.
tered corporation that will pay bis
, corporation tax and that will he op
on TO innumerable official gratis hut
a straight cooperative business
, lplan
EVERY DOLLAR on STOCE
. SUBSCRIBED Will GO STRAIGHT
INTO CONSTRUCTION on TIN
, LINE, and viii be publicly account
ed for once month and the people
3 who put up the money will know
4 what IL Is used for
: No debts or liabilities against m,
! stockholders will be created ant
1 when the road Is built there will d,
no mortgages on the property ant
! no interest 20 pay out of It's earn
lngs.
The day nye or ten miles Of IN,
road Is done cars will run and IN,
road WITH so 20 earning money. ant
THAT MONEY WILL BELONG T(
THE STOCKHOLDERS. and will b,
used 20 redeem their stock n the,
want 20 sell
n they do not want 90 sell thei
stock. the orisinal stockholders be
come preferred stockholders and ne
main the owners ot the property. thD
franchise and an the transporta
tion contracts and owners OF th
earnings
An this Is SO plain there Is n,
chance for any iugglery or sharl
practice. and II the road Is built ol
the plan that has been CAREFULlN
MORkED Ol'T ANn PURIICIN
DISCUSSED IN WILL NEVER BI
JlGGLEn.
The people have a right 20 he sus
piciOus OF the ordinary corporate
management OF a public service util
ity and no one can blame them 20
not taking stock in the usual bri
gand method of swapping such en-
terprises.
But let the people for once reallE
that the only way this enterprls
: can possibly succeed Is TO play fai