The Morning examiner. [volume] (Ogden, Utah) 1904-1910, 1909-01-24
WATGR-ANO RESULTS

That for which we have contended
and which we have tried to advocate
has at last come to pass at last in a
measure, On Dec. c, 1908 in the arn..
Gle. give every man his due" WA
sald' III the present rate of profit
were applied to the actual capital in.
vested, there would be great sur
plus. So, when the water Is squeezed
out oil stocks and a reasonable profit
is made, You Will see wages go up and
living expenses come down.
The man with barrel Of water with
little money In 1t Is principally re-
sponsible for high prices" We did
not know then just to what extent our
views might be shared by others but
we have since learned that W.. are
not alone-that even some high I'm All
thority hold the same views. 1t is
claimed by many. and perhaps all
public service corporations, that the
people. through the courts and leeIs.
latures have no right to attempt to con-
troll or regulate their business OF to
complain OF the profits they make:
Dut, as the people. through their pub.
Tic servants. have made II possible
Tor these concerns to establish and
maintain their business. they. the peo.
pie, have right 10 refuse to be mulct.
ed out of their property in the nav
ment Of exhorbitant rates of profits
Then, 1t has been the custom of al.
most all corporations, to, at intervals.
when the profits might look too large
to Increase their stocks or capitaliza,
tlon without adding To the value Of
10 l.,
ing the concern. and In this way they
are able to keep the rate OF profit
down.
So then, the people are mulcted of
their property in the payment OF di-
vidends on supposed values that do
not exist In other words. the people
have given these institutions fran
chlses and other property and practl-
cally set them up in business, only
TO be robbed BY them. Therefore. it
is but just to the people. that, after
having placed these clubs" IN the
hands of, unfortunately, dishonest men.
they should have some strings" at.
taohed. with which 10 control them.
We do not desire to do any Unjust
Ice to any one but from the fact that
at least part Of the property owned
by all corporations belonged. origin
ally, to the people, they have a per.
rect right TO share in the profits, or
TO compel the corporation to accept
a charge sufficiently low to meet a
reasonable rate of profit on the actual
money Invested. But the institutions
nave caught the people both coming
and going They swell" their values
In order to keen the rate of nrOfit |
down and at the same time To make |
more in the aggregate. except one dav |
In the year. and that Is when they |
see the assessor coming; then the val.
ues shrink amazingly that they may
escape paying their just proportion of |
the taxes. and the people have TO pay
Just that much more.
So long as the majority OF the peo-
pie desire to keep the competition sys-
tenn in vogue. they cannot and will
not object To paying q reasonable rate
1f profit on actual Investment. Rut
he question is, what is n reasonable
'ate and who has the power and au.
hority to fix 1t.
The supreme court of New York has
Undertaken 10 answer these questions.
n It's decision on what is known as
he IN. Y gas case" In line with
'ur contentious, the court decided that
'ctual value must be the basis Of es-
lmates Of capitalization. They pro-
'ose that the water" shall be all
'oured out (for that don't cost any.
hing except when drawn from a ny.
ranO and that the valuation shall In
lude the realty, equipment and fran.