The Cairo bulletin. (Cairo, Ill.) 1???-1928, 1910-10-29
GOV. STUBBS A
GOOD WITNESS
HIS TESTIMONY LAST IN THE
RATE HEARING AT CHI
cAGo YESTERDAY.
MADE STARTLING OFFER
Would Put up Milton Dollar Bont
That He Can Build upto.Date
Road For $25. 600 a Mile
Says Stock Watered.


Says Stock Watered.
Chicago, Oct 2S-The presentation
of evidence by shippers who are on
posing the proposed advance m
freight rates was concluded TODAY
before the interstate commerce com
mission, with the testimony Of Gov
Stubbs, of Kansas, who declared his
opposition to the increase In rates,
and his belief as practical builder
of railroads that values have been
placed at tcc high point He said
"I'l put M a million dollar bon1
that can construct main line rail-
road in Kansas, an up-todate line too.
for s25,ooa mile, and make 10 per
cent profit on the job
The lowest estimate OF railroad
building offered by railroad men Is
more than double the governors es,
innate
Stnbts was the principal witness
introduced by the shippers, Tomot-
row the railroads will introduce tes-
timony to justify some evidence AMI
statistics already In the case. The
hearing is expected to be completed
tomorrow
Banking More Risky.
AT one point of the cross-examina-
tion by Attorney T. J Norton, OF the
Santa Fe calroad, Stubs declared:
There is not as much risk in
building railroad in good territory
as in starting bank. | don't think
the roads need preferential rights:
they can make money as they are
and they sneuld be ann on the same
'husiness basis as a bank
Norton asked the witness IL he
knew Of the wash out which put the
Salt Lake road out of business for
n hundred days
The governor said Yes
We'll, let me give you some infor
nation right along that line about
banks" interiected Stubbs. Il can
tell YOU a story that will make your
hair stand up"
Commissioner Lane, the top Of
whose head is smooth. said:
Suppose you tell me that story,
governor
The story was los; in The general
laugh.
Value OF Kansas Land,
Don't you think. governor" WIS
another question, that the Santa rs
is entitled to an increased value OF
its properties in Kansas? You do
not deny to the Kansas farmer in
crease in value of his land
Yes" quickly 'taioined Stubbs,
rising; but that land Is worth more
because of the honest labor of the
men, women and children on every
quarter section OF Kansas land, and
the stock values of the railroad hold
ings have been juggled and inflated.
| don't know how muca water there
is in it.
~ want the railroads to give the
commission the actual cost of the
roads, and | want them TO get fair
returns on their investments"
Later, punctuating his words with
blows on the bench he said;
The railroads ought to be allowed
to make FIVE or six per cent on the
actual investment, but they ought
not to invest the emergency surplus
from time to time on permanent i'm
provements, and then add 1t to the
Now, let me tell you the people
will be pleased to give the railroads
liberal returns on their investments
If you only stop your stock Juggling,
AS to Autos In Kansas.
A question about automobiles In
Kansas caused the governor to throw
back his head and almost shout: an
tell you why there are lot of auTo-
In Kansas II is because we
have got industrious people and have
the stuff to buy them, in spite Of the
high railroad rates
Once Stubbs asked of the railroad
attorney examining him:
What was the basis OF the Santa
Pc issues of $l5,o00,000 of stock n
1896, when the railroads were con
Was that on the actual
Of the roadr
Auditor Bailey of the Santa F'e sys
TEN, said the actual cost Of the road
was matter impossible to determine
as the books OF the system did not
go back Of 1887
Comparing the estimate of $4,000
a mile given by Stubs with what the
Santa Fe had expended in building
what is known as the p line cut Off.
Attorney Norton gave the figures OF
the cut on at sil,02f a mile.
Stubbs insisted that the grading
obstacles encountered in the New