Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1908-01-31
pEsERET EVENING NEWS FRIDAY JANUARY 81 1908

lnelr OWL DoAlS anu curry pii Ilbuh
fields controlled by themselves along
the Goa near San Luis obispo to San
Francisco at a much lower cost than
the special rate we have made them
and In competition with the Union OIL
company and the Standard OH COM
pany, II was necessary for them to sell
at the San Francisco hay points ON tn.
basis of the cost of water Transports
ton from the coast fields. They ilgur-
ed they could only afford to pay us the
% cents per barrel IL by doing this they
sold cur company q certain amount Of
fuel oil, otherwise the business COW
cred by the attached rapers would have
come IN by boat from the coast fields
| am writing this up completely SO
that there may be in the papers a his
tory of the reasons why this arrange
ment was made, l wish you would 10
ahead and make the adjustment as
soon as possible, as the Associated OH
company are very anxious to have the
matter closed. The arrangement was
cancelled ON Nov. 10 at conference
between Mr. Ripley. Mr. Wells, Nj.
Porter and myself. Yours truly,
EDWARD CHAMBERS
shipments Associated Oil company.
Mr G. a. Davidson, auditor Los
Angeles"
ATTACKS ON ADMINISTRATION.
The attacks by these great corpor-
atons on the administrators actions
have been given wide circulation
throughout the country, in the news
papers and otherwise, by those writer's
and speakers who. consciously or un-
consciously, act as the representatives
OF predatory wealth--of the wealth
accumulated on a giant scale by all
forms of iniquity, ranging from the
oppression of wage workers to unfair
and unwEshsome methods of crushing
out competition, and to defrauding the
pablo by stock jobbing and the manip-
ulatiOn of securities. Certain wealthy
men of this stamp, whose conduct
should be abhorrent to every man of
ordinary decent conscience, and who
commit the hi1eOu5 wrong of teach
ing our young men that phenomenal
business success must ordinarily be
based on dishonesty, have during the
last few months made II apparent
that they have banded together to
work for a reaction. Their endeavor
is to overflow and discredit all who
honestly administer the law, 10 pre-
vent any additional legislation which
would check and restrain them, and
to secure if possible freedom from
all restraint which will permit every
INSCRIPTIONS wrongdoer TO do what
he wishes unchecked provided he has
enough money. The only way to
counterfeit the movement in which
these men are engaged Is to make
clear to the public just what they
have done in the past and just what
they are seeking to accomp y n in the
present.
The administration and those who
support its views are not only notengaS-
cd in an assault on property, but are
strenuous uphOlderS Of the rights OF
property. The wise attitude to take
is admirably stated by Gov Fort OF
~ tn IA inaugural |
address, the principles which he up
holds as regards the state being OF
course Identical with those wniln |
should obtain as regards the nation
In Just and fair reg Ilation can only |
be objected to by those misconceiNlns |
the rights of the state. The state grants
all corporate powers to Its railways ano |
other public utility corporations, and
may not only modify, but repeal an |
charters and charter privileges 1T con- |
fers. IT may, therefore, impose con-
ditions upon their operation at us
pleasure. OF course, in the DONG Oh |
these things, 1t should act wisely ana |
with conservatism, protecting all vested
rights of property and the interests
of the innocent holders of,the securities
of existing quasi public corporations.
Regulations, therefore, upon wise
basis of the operation of these puplc
utilities companies, including the NIX
ing OF rates ana pupilS biA4 $50 Nf'
complaint and subject To court review
should be intrusted to proper board,
as we'll as the right to regulate the out
mt of stock and the bonded issues o4
such corporations. II this were done,
ii would inure To the benefit of the peo-
pie and the companies, FOR IL Woulu IN
the value of such securities, anu act
as a guaranty against their deprec1"
ton. Under such law, tine ho4ue'a
OF existing securities would find then
protected, and new securities ohered
would have the confidence oil the pso-
pie. because of the guaranty OF the
state that they were only Issued Lor
extensions or betterments. IL is ollh-
cult TO suggest any legislation tnal
would give greater confidence to the
public and investors than Il wise punnc
utilities bill; and the mere suggestion
of its enactment should cause TINS
class of security holders to feel thal
their holdings We're strengthened am
that the state was about To ana the
managers Of the public utillty corpora
lions to conserve their corporate
nroperty for the public benefit and lor
the protection of invested capital.
Tbe time has come for the strict super
..ision of these great corporations ano |
the limitation of their stock and boliu
issues under some proper pupllc ON
eial. 1t will make for conservatism
md strengthen the companies doing a
legitimate business, and eliminate, let
IS hope, those which are mercy spe,-
ilatlve in character and organized SIM
Div to catch the pnsuspecung or cfeo
Ions investor Corporations have come
in our bushes world to remain Ior az
time. Corporate methods are the mos
satisfactory for business purposes In
many cases. Every business or enter
orise honestly incorporated should ne
nrotected and the public made 10 feei