The Chickasha daily express. (Chickasha, Indian Territory [Okla.]) 1899-current, 1909-01-07

poaited ~ the bank and upon failure 10
comply with the Bank Commissioners
order 20 replace the borrowed money, the
bank was closed. The depoiOtors pain
within forty-eight hours and within less
than three months, the department had
Nquldated this bank to the point Nhert
the draft on the state guarantee fund had
heen entirely replaced, ana assets rec
manning equivalent 70 about ifiy-hye per
cent for the stockholders
We congratulate the people Of our
state on the success Of It's banking law
and commend the banking department Of
thc state upon is Yigilant and efficient
discharge or management Of that de-
parimcnt, and the bank Officers upon the
assistance they have rendered The depart
ment IN making the banking business
safe and generally satisfactory 20 the
people
II Is nlso fair TO the national banks OF
our STATE 70 say that we nave every rea-
son 20 believe they are IA a safe and pros-
porous condition.
The bank guarantee fund has lost
nothing during the yenr and the cost
oi administration has been iess than me
Interest earnings OF The guarantee fund,
and while oklahoma iA the pioneer IN a
guarantee law IN recent years. we con-
Rratuiate our people on the stable cond-
ton produced ~ banking circles. the cons
hdenee and approval Of the people. not
only within our state but in two-thlrds
OF the other states OF the union. whose
people nave added 20 the hank deposits
OF tNt 0hlhnuiiiH state nAnkss
Railroads
one ~ the important features IN the
development and commerce Of the state
is our means of transportation We have
now nfty-alX hundred aud ninety-hve
miles Oi railroads operating within the
state owned and operated by "a total Of
Twelve different companies, including the
six large railway systems Of the SOUTH
west. These twelve corporations operate
their various lines extending into "a total
- thirteen states tincludng Oklahoma),
and two territories.
During the last nscal year these several
railroad companies have constructed a
total ol one hundred and thlrty-six miles
or new road IN Oklahoma, and "A total OF
only one hundred and thirty-nine miles
of new railroads in AN Of the other twelve
states and territories. II Is true the
amount OF railroad construction IN Okla
homa during the year Is much less than
lr former years. yet as Oklahoma alone
has had ms much new railroads built
within the year as AN OF the other twelve
states and two territories combined. we
are bound 90 feel that Oklahoma has done
well IN The presence or existing condi-
tiOns This small amount Of new con-
stWcton Is practically due 20 the fact
that after ten years Of reckless eXpan-
sion ana frenzied finance Ia ihc United
states, the depression came IN the fall
~ nineteen hundred md seven 20 that
when statehood began IN Oklahoma the
country al large was sun ering from a
business depression that almost COM
pictelv suspended development and even
regular commerce and manufacturing
throughout the entire United states, and
ln the pscseucc OF this continued dcprees-
Sion throughout the entire year. ] believe
Oklahoma can fairly be congratulated
upon the fact that lts mileage Of actual
constructed railroad ls SUBSTANTIALLY equal
TO whai these twelve companies have
done in the other twelve states and two
territories.
oklahoma n criticised by the intense
partisan, az well as By those intensely
greedy OF having legislative and cOnsu-
tutlonal provisions claimed 90 be destruc-
tive 90 business enterprises, but since
the great financial centers Of the East
have not during the one year of statehood
Just paFsed financed any amount OF rail-
road construction In any state equal 70
that ln our own state. and in nearly eN-
ery state even much less or none at an
we DO not couccdc that the laws uf the
state OF Oklahoma have paralyzed the
energies OF ihe great financial centers OF
the East
one Illustration taken from the report
of the Gulf. Colorado Santa Fc rail-
road lnay be interesting 70 those who
want the truth.
This company has one hundred miles
OF railroad operating IN Oklahoma. the
remainder Of this system being IN the
Gross earnings apportionel TO okla
hOma's one hundred miles. one million.
three hundred and thirty-hve thousand.
three hundred and eighty-one dollars and
Operating expenses. six hundred and
eighty-three Thousand. six hundred and
eighty.sx dollars and seventy-sx cents.
Taxes. FIffy-one thousand. eight hun
dred and twenty-five dollars and twenty
Cents.
Rents for equipment and other prop
erty. Fffty-seven thousand. one hundred
and nineteen dollars and twenty-slx
cents.
Interest on funded debt. ninety-four
thousand. one hundred and eighty eight
dollars and nlnety-four cents.
Net profit: -Four hundred and forty
eight thousand. I'VE hundred and sixty
dollars and ninety-ssven cents.
Hence Il win be seen that after the
interest on the funded debt. presumed
10 repreeent substantially the cost Of the
road. has been deducted. there was still
a net profit of four thousand four hundred
and eghty-nve dollars per mile 70 give
to the stock md the road has an actual
net profit on whatever money. II any. vas
Invested IN that stock
This one illustration taken from the
official report made hy the railroad com
pany itself and while Ii Is no doubt
somewhat above the average In the en-
tire state Il certainly fefutes the charge
that Oklahoma railroads are oppressed
by our laws 50 as TO deprive them OF
Ii fair profit on the cost Of construction.
road for the four months that have eiaps-
ed slneee the above annual report was
madn this report SHOWS an ncreaRe in
It's ret earnings for this said four months
over the same four months Of the pre-
eeding year. Of thirty-ulne thousand, two
hundred and slxtv-three dollars and
twenty cents on this one hundred miles
of railroad within the State of Oklahoma.
We also note from the records in the
office OF our State Corporation Commis-
sion report made By the officials OF the
Rock Island system. Of Increase in pas
senger revenue for thE four months end
ing October 81. 1905 eghty-tive thous-
and, eight hundred and forty-nlne dol-
lars and hfty-three cents as compared
With the same four months 81 last year.
and ii is we'll known that that period Of
the year nineteen hundred and seven
was recognized In railroad circles as be-
ing the banner year for railroad earnings
in the history Of the system. Mention Is
made Of the Rock Island system because
of the fact that 1t traverses many Of
the states where the twO-cent passenger
fare became effective about the same
time as the two-cent fare was made
effective in Oklahoma.
We know that Oklahoma needs large
amount Of additional railroad mileage and
therefore Ii must offer under Its laws A
fair opportunity for Investment and al
opportunity TO earn a fair profit for the
service It renders tho public. and we sub
NIT that the above statement completely
refutes the charge that Okahoma's con-
stitutional and legislative provisions are
either oppressive or destructive to rail-
road enterprises and that Il is fair to
presume that whenever there Is money
1xyaifahla far new construction anywhere