The Evening standard. [volume] (Ogden City, Utah) 1910-1913, 1910-10-29

more than doubled the governor
] Governor Stubbs was the principal
witness for the shippers, who occupied
only three days with their witnesses,
while the railroads IN previous hear
| ings consumed more week6 than the
| shippers have days.
Tomorrow the railroads VIII intro
duce testimony to Justify some of the
| evidence and statistics already In inc
case. II iS expected the hearing VIII
be completed tomorrow.
Governor Stubbs, time after time,
| Jumped from the role OF witness 10
| that of cross-uuestion-r and repeatedly
turned on the railroad attorney with
NOW, | want to ask you question.
Governor Asks Questions.
AT one point in the cro5s-eXamina-
! ton by Attorney T.. ] Norton of the
| Santa Fe. Governor Stubbs declared
"Now let me tell you something.
There Is not as much risk In build
ing railroad In good territory as
| I'm starting bank | don't think the
railroads need preferential rates, they
can make money as they are and they
! should be run on the same business
| basis as bank
Mr.. Norton asked the witness If he
knew of washout which put tho
! Salt Lake road out OF business for a
hundred days,
"Yes. heard of it," was the gov
ernor's reply.
al Jus, called attention to it, on ac-
| count OF your comparison OF the risk
of railroads and banks said Mr.. Nor
| ton
Gives Some Information.
well, let me give YOU some infor-
nation right along that line about
banks" interjected Governor Stubbs.
Il can tell you q story that VIII
make your hair stand up
Mr.. Norton disclaimed any desire
to have his hair stand up" and Com
missioner Lane, the top OF whose head
Is smooth, said;
Suppose you tell me that story
governor"
The story was lost in the laughter
that followed.
Don't You think. governor. was
another question. that the Santa Fe
road is entitled to the increased value
! of it's properties In Kansas? You do
not deny to the Kansas farmer the
! advance In the price OF his land"
Ripley ls Fine Fellow, But
Yes quickly rejoined Governor
| StubbS, rising from his chair and en-
| phaslzing his words by pounding on
the 1ndge's bench, but that land Is
worth more because OF the honest la.
bar OF the men, women and children
on every quarter section Of Kansas
land and the stock values OF the rail.
road holdings have been juggled and
inflated and | don't know how much
water there is in IT,"
Governor Stubbs repeatedly referred
TO the position taken ny President Rip.
ley of the Santa Fe that market quo
tationS of railroad stocks vera fair
criterion of the property values.
Il think President Ripley is a
+ mighty fine fellow" said the governor,
"but | don't agree with him on that
point. want the railroads to give
to the commission the actual cost Of
the roads and | want them to get A
fair return on their Investment
Governor Grows Dramatic.
Later In the cross examination Gov
ernor Stubs again stood up and pune
tuating his words with blows on the
bench beside him said;
The railroads ought to be allowed
to make five or six per cent on their
actual investment and also lay aside
a nice sudplus for emergency use. But
they ought not to invest this emergen-
cy surplus from time to time In per
manont Improvements and then add
it to the capitalization. Every bust
ness man ought to have surplus for
a rainy day and the railroads should
too"
Continuing on this line he said.
II don't think that S25 100000 is too
great an amount for the Santa Fe as
an emergency fund for a bad year on
washout But keep that fund sepa
rate and don't capitalize IT.
Must Stop Stock Juggling.
Now, let me tell YOU he added
pleased to pay the railroads liberal re-
turns in their actual investment If you
will only stop your stock juggling
A question about the automobiles in
Kansas caused the governor to throw
his head and almost shout;
I'm tell you why there are a lot
OF automobiles In Kansas. IT is be.
cause we've got Il prosperous, indus
, trious people, fertile fields and have
the stuff to buy :lem in spite Of the
; high railroad rates.
! In lull in the cross-examination
/ Governor Stubbs leaned forward and
. said to the railroad attorney examin
ing him:
, you've asked ME n LOT of ques
! tions Now, let me ask YOU one What
2 was the basis Of the Santa Fe Issue ol
100000 600 of stock in 1896 when the
I railroads were consolidated was thai
actual valuation OF the road2"
|. Worth Of the Santa Fe.