The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1909-11-26
KANSAS COAAENT
CREATING A GIANT.

| Edwin Hawley, apostle of high
nnance, Is now engaged in the inter
est1ng operation of creating q new
| railroad giant
fusion of the Frisco. Rock Island
Katy, and half dozen other lines
into one system of $4,000 miles. eX-
tending from Minneapolis to the gulf
and from Kansas City to the Atlantic,
with traffic agreements with the Hill
lines for Pacific outlet.
This corporation. with half cap
italization of half a. billion dollars,
will be worthy rival of the Harri-
man lines.
dnancier like Hawley. In manipulate
ing deal involving eight or ten rail-
roads, and half billion dollars. there
are many men of less ability than
Hawley who could drag out of the
episode a hundred millions or SO for
personal profit; a soft and delightful
piece of velvet.
Possibly Hawley has no such in
tention; possibly he is merely at
tempting to build up railroad trust
on strictly business principles But it
is an unusual railroad deal, If such is
the case.
The chances are that the consolida-
ton of these roads will be to make an
opportunity for the issuance of mil
lions of dollars of watered stock; mil
1lOuS u QOlldfS VI llCttlAO0S NdA0O oPoAA
which the public will be required to
pay interest in the form OF excessive
freight rates
The bottom of the freight rate ques-
ton will never be reached until the
mythical stock value and the fictitious
of government valuation, and solid
rock foundation is established on
which to build up a system OF frelght
rates which will be fair to the pubic
and honest with the holders Of honest
railroad securities.-Salina Journal.
BOUGHT OFF A CLIENT.
The independence of Warmer in
asking the Big -Four people what they
were going to do about it after he
had taken $643,000 of their money
reminds the Lawrence World OF
case in Salina twenty years ago. The
trusted employe of a firm was found
to be a thief and confessed that he
had been robbing the firm for years
He then said, "You can do one of
two things; you can send me to the
penitentiary and not get cent. or
YOU can receipt me in full and l VIII
pay you $1,000" The firm being
thrifty accepted the $4,000 and the
thief went to Europe.
That is pretty good story. but a
better one is the alleged action ac-
credited to the late Benjamin Frank
lin Butler of Massachusetts.
A bank cashier came TO MS ONCE
one day and confessed that he was
short at the bank $4,000 and that
every effort he had made through
speculation to make good his loss,
only increased the deficit. He wanted
Mr.. Butler to take his case. advise
and defend him.
"How much cash is there in the
bank to which you have access?"
asked the attorney.
"About $4,000 was the reply.
Mr.. Butler thought minute and
then said: "You go take the balance
at closing time tonight and put it in
some safe place.
The cashier followed instructions
That night Mr.. Butler called the
president and directors together and
addressed them as follows:
Gentlemen: My client, your
cashier, is an embezzler in your bank
to the amount Of 100000. Will you
accept $4,000 and take no further
action, or will you prosecute and lose
the entire amount?'
It is said that the directors accept
ed the $4,000. What became of the
other $4,000 the legend does not re-
late.-Wichita Beacon.