The Roswell daily record. [volume] (Roswell, N.M.) 1903-current, 1909-03-08

such reasonable profit. The Court has
reached the conclusion that upon this
question the statutory rates fixed by
either and both statutes are not re-
munerative."
In giving the reason for such con-
clusions the decision says: THE un-
questioned and undoubted rule is thai
there is a presumption both of fact
and of law in favor of the validity of
every legislative enactment. The rail
way companies have the burden of re-
moving this presumption, and show
ing that the statute clearly, or as
some courts say, palpably, and other
say beyond a reasonable doubt, that
the statute is invalid. In these cases
the Court has recognized this rule.
The authorities upon this question
form long and unbrOken line, with
the single exception of the majority
opinion in the Pennsylvania case de-
cided a year ago. (6S Att. Rep. 676)
And that one authority is not persua-
sive.
"All testimony and argument bear
ing upon the question as to what con-
sideration the Legislature of Nilsson
ri gave to these enactments, is utter
ly immateria1. Much was said in argu-
ment as to the message of Governor
Hughes, of New York two years ago
| in declining to approve the two cent
| fare statute of that state. Governor
Hughes had the moral courage to ve-
to a measure of popular favor be-
cause as he believed the question had
not been fully considered. But the re
| lation consummated, are entirely diff
ferent.
Most of laymen and many lawyers
believe that the question is whether
the railway company as a system is
earning sufficient revenue upon the
value of the property of the system.
They believe that if the Burlington.
Santa Fe, Wabash, Or any other rail
road system is earning such money
as will pay all charges and expenses
| including taxes and interest, with rea-
sonab1e dividends to the stock holders
| that state rates for state business
| must stand. Of course no one be-
lieves this who has given the slight
est attention to the question. That
precise question was before, and was
decided by, Justice Brewer, and affirm
| ed by the Supreme Court in the Ne
braska case of Smyth v. Ames. The
only question is as to Missouri rates,
| less expenses properly charged
against the same. And if this balance
does not leave sufficient to pay a
| reasonable return, the law is invalid.
And if the railroad system of any
company is earning more than a rea-
nable return by reason of interstate
rates, which affect the people many
times more than local rates, and if
such interstate rates are to high, Con
gress acting alone or through a Com
| mission must make the corrections.
"The Supreme Court during the pre-
sent year in the case of City of New
York v. Consolidated Gas Company of
New York, decided that six per cent
was fair and right to be given to the
owners upon the true valuation. My
opinion is that while a gas plant is in
some respects different from a rail-
road, that a railroad property, prop
erly built. and properly managed,
should over and above expenses make
! a return of six per cent per annum.
| And considering all the evidence; the
evidence fairly shows that all OF these
roads we're properly and economical
ly built and are being properly and
economically managed; and that after
paying the expenses for maintenance
and operation. that there is less than
! six per cent of returns, and not mora
than three per cent, upon any of them