The Salt Lake herald-Republican. [volume] (Salt Lake City, Utah) 1909-1918, 1910-09-21
CENTRAL
INQUISITION OVER
(ContInucd from Page OneD

com pa ny. proper SUBJECT Tor adqi-
tiOUal capitalization. wouldn't your
"Of course" was the answer.
Then. when you later had capital
lied, YOU would say you ought TO be
entitled 10 a reasonable dividend upon
that equalization
Yes"
Then the simple fact is. pou think
You ought to be entitled to- charge
shippers enough to bring in sufficient
earnings that you can devote a part to
new capitalization and then get big
return on Dc In the shape Of dividends.
DO you2 Is that your idea Of what con-
stltutcs a fair tariff for the shippers
The witness did not answer.
Attorney ". IL Horton Of the Illinois
Central sprang a surprise on Attorney
II. e. Lust Of the Illinois Manufactur-
ers association. The railroad attorney
Mr.. Lust. viii you give me the
names Of four or five Of your largest
why do you want them, returned
pers who pay S150.000.000 annually in
freight rates"
Il want them" retorted Attorney
I Horton. to produce statements similar
on the investment is only 4 s. and see
what their returns are. DO j get the
we will have a consultation" an
swcrcd Attorney Lust.
~RaIIrOHd Intuition"
Manager Parks introduced a now
term In railroad nOmenclature-"rai IL
road intuition He had been asked by
based his opinion that the present
physical valuation Of the road was FAR
In excess Of about S2S5. 100000 capital
why. ] haven't any exact data by
which TO determine the physical valua-
ton. said Manager Parks. de-
pend upon what I might call railroad
intuition--ycs. that's it-railroad in
tuition. You see. a man can't do moth
ing for thirty five years but ride over
railroads. compare property railroads
and buy new lines. without gaining an
tutuitiVe value appreciation. I COulun
name any definite figures. but 1T is
much higher than the capitalization"
Chief Engineer A. =. Baldwin, who
followed Wee President Parks. said
that because Of the sO-Called panic OF
1907. millions Of dollars worth or re-
expenditures that 10 would have been
wise 20 incur and which IT was false
economy not to-" had been deferred,
and now demanded attention.
when ! call your attention TO your
controllers figures showing your COM
surplus in 1908 and 1905. respectively,
VIII you say 30 was poor business man
aEementg' persisted Mr.. Atwood.
Witness wouldn't Say.
Il don't wish TO give an opinion on
the wisdom Of the management, with
out knowing what their problem was,
was the reply.
Engineer Baldwin commented on the
effect Of wage Increase on labor eff
cheney. lie said:
"In ten years we have raised GER
tain workmen's pay % cents day. and
"a a result We are getting less return
for our money. This IS particularly
true with the negro. The more money
le gets. the less efficient he e.. from
our standpoint. Then. too. the more in
dependent worker becomes. either
through unions or otherwise. the less
dependent he feels towards HIS en-
plOyer. the less conscientious effort
NE gives in return. II is a safe rule
90 say that increased wages means less
labor efficiency
The illinois Central announced at the
close Of the days session that 30 had
put in its case. To was understood the
next railroad 20 present testimony
would DE the Chicago. Milwaukee d
81. Paul. This road viii appear before
the commission.
surprise was evident in the commit
tee room when Mr.. Parks declared that
the Illinois Central. although rated as
one or the best constructed and best
equipped railroads in the west and
south. should eXpend between S25,000.-
600 and S30.000.0 900 at once In the me-
| ChaniCal department in order 10 brinR
I 81 up 10 standard.
! Tie also asserted that the record his
I railroad and others are making in the
l matter OF killed and injured IS due
] largely 20 the fact that they lack mon
l ey with which TO provide block sig
I mails and other safety devices.
/ The Illinois Central. for example
] should spend s5.000.000 on block sig
I mails. and. he said. would do so. IL the
] revenue ~ was permitted to earn gave
] 10 sufficient money.