Newark evening star and Newark advertiser. [volume] (Newark, N.J.) 1909-1916, 1910-06-30
To the Honorable John Franklin Fort.
Governor of Me1p Jersey:

The railroad companies Jersey have assented to
the request Commission that the
Inauguration passenger rates be deferred
until July 90.
such roads attempted do otherwise but show
of Federal authority compelled quick submission.
Were Federal Intervention the increased rates
would be in effect in this State today.
humiating that corporations, which
which have acquired State rights
and powers by license respond only to Federal ad
nonition?
True we have no Sherman law with its formd
penalties but entirely helpless? Certain public
utterances attributed you to this inquiry In
the affirmative their authenticity is doubted You are
adro taccan and too much knowledge of the
weakness of the railroads position to make such admission
The State has power to meet this emergency and 1t rests
with you it. Corporations entitled to fair treat
ment nothing the present the citizen Is asking
relief against conditions which bespeak corporate
favoritism
The defense of the railroads necessity. The defense
is upheld by the facts DURING THE PAST YEAR ALL
THE RAILROADS ANNOUNCING INCREASED RATES
SHOW INCREASED INCOME. Dealing with the matter in
round figures the following the facts
The Pennsylvania Railroad Company for the year 1909
surplus all expenses Of three and quarter mil
lions of dollars increase millions the previous
year. For the three months ending April 1870 this COM
pany shows increase in net income the preceding
period of four and a half millions of dollars.
The Erie up June 80 19O9 earned surplus OF three
millions dollars For the nine months ending April l91O
it shows increase net income over the previous year OF
$1,s600O0.
Delaware Lackawanna and Western, the centre OF
heated complaint presents figures bewdering In
their magnitude company earned the equivalent
per it's capital stock increase of 12S per
previous year. After paying 20 cent in
dividends available surplus of ten millions
of dollars against million four hundred thousand the
previous year. April of the present the company
shows increase in net of over $sO0O0O.
railroad for the 1909 earned 1884 per
cent capital stock against 1867 the previous year,
the nine months ending April 191O there is gain
In net income million and quarter Of dollars The Cen
trails showing favorable the other roads but 1T Is
evident that It k earning money than It needs for
recently increased It's dividends from to 10 per cent
THE MOST STRIKING AND SIGNIFICANT FEATURE
IN ALL THESE STATEMENTS is THE FACT THAT
EACH OF THE ROADS SHOWS A DECREASE IN THE
PERCENTAGE OF OPERATING EXPENSES TO INCOME
may that the profits earned else
where and the sustained here 1t is doubtful how
ever corporations soulless they would ad
plea SO shallow.
The asking the people of New Jersey to fur
ther swell their surplus Governor in turn ask
the railroads whether sheer folly You
mon the officials you and that for they
have successfully just taxation Were they paying
their full share would be such protest against
increased rates. would be than offset
nv the reduction average citizens You
t them that they facing increased taxation This they
cannot escape may say ALSO that they heed
IN vour admonition they may special session Of the Legs
atur be called by made to and bear other and
more serious conditions be brought to realize that Is
nor wise to unnecessarily infame the public mind