The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1910-10-29
I0W ESTIMATES
BUILD ROADS
|;orernor Stubbs of Kansas
Saws He Could Duplicate
Roads Cheaper.
HALE OF OFFICIAL
FIGURES MAKE MONEY
|Qn the Stand All Day in the
Chicago Rate Hearing
Case.

CHICAGO. Oct. 2S.-Presentation OF
&fdencc by the shippers who arc oppos-
Inx the proposed advance in freight rates
raa concluded today before the inter
.tatc commerce commission with the
|4stimony of Governor W. l.. Stubs OF
[ansas, who, i'm characteristic manner,
1cc]ared his opposition TO an increase In
rtes and his belief as practical build er
ID railroads that valuations have been
laced too high.
'-sI'Il put UP II million dollar bond" said
|he governor. that ! can construct a
nain line railroad in Kansas, an up-to-
90 line, too. for s25 900 81 mile and
1iake 10 per cent profit on the job
. The lowest estimate OF railroad build =
he offered by the railways more than
Ioublcd the governors estimate.
Gpycrnor StubbS was the principal wit
hess for the shippers, who occupied only
|hree days with their Witnesses, while the
-aiIroads in previous hearings consumed
more weeks than the shippers have days.
Tomorrow the railroads will Introduce
|estlmony 10 justify some OF tho evidence
md statistics already i'll the case. it is
.xpected the hearing will be completed
Governor Stubbs. time after time,
umped from the role of witness 10 that
N cross -quostIoner and repeatedly turned
M the railroad attorney with. Now. /
rant 20 ask YOU question"
AT one point In the cross examination
~ Attorney T. J Norton OF the Santa
fe, Governor Stubbs declared;
Railroads VS.. Banks.
NOV, let me tell you something. There
! not as much risk in building a rail-
bad In n good territory as in starting q
aux | don't think the railroads need
lrefercntial rates, they can make money
IS tley are and they should be run on
-l,,ne
Mr.. Norton asked the witness if i,
new Of n washout which put the Salt
Lake road out Of business for six months
Eyes. I heard Of IT," was the gov
fnors reply
II just called attention to It In connec-
Ion with your comparison of tho risk Of
allroads and banks said Mr.. No
'"Don't you think. governor" was an
fher question. that the Santa Fe road
5 entitled TO the increased value OF its
in Kansas? You do not deny
rice OF his land"
sYes," quickly rejoined Governor
Itubbs, rising from his chair and en-
hnszing his words by pounding on tn
ldge's bench But that land Is Wort
noTe because OF the honest labor Of the
1cn, women and children on every quar-
er section OF Kansas land. and the stock
alues Of the railroad holdings have been
ugglcd and inflated. and l don't know
oW much water there Is In it.
"a Differs With Ripley.
Governor Stubbs repeatedly referred 20
he position taken by President Ripley
I the Santa Fe that market quotations
railroad stocks was n fair criterion
tho property values.
81 think President Ripley is a mighty
he fellow said the governor, but
ont agree with him on that point. l
'ani the railroads 10 give TO the COM
lission the actual cost of the roads, and
vnnt them to get a fair return on their
nvesiment,"
Later I'm the cross examination, Gov
rnor Stubbs again stood up, and, pune
O8ting his words with blows on the
ench beside him. said:
"The railroads ought 10 hc allowed TO
pake or per cent on their actual in
estment and also lay aside q. nice sur
Ius for emergency use. But they ought
ot 10 invest this emergency surplus from
lme 20 time in permanent improvements
nd then add & 10 the capitalization.
YER business man ought to have n
nrplus for 2 rainy day and the railroads
h0ud too"
Continuing on this line. he said:
Il don't think that $@6.000,0O0 is too
Tcat an amount for the Santa Fc as an
mcrgency fund for n bad year or Il
'ashout. BNt keep that fund separate
nd don't capitalize IL"
'sNow. let me tell you he added en-
hatically. 1.-The people will be pleased To
ay the railroads liberal returns on their
ctual investment II you Will only stop
our stock Juggling"
question about the automobiles in
lansas caused the governor TO throw
ack his head and almost shout