Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1910-12-23
Attorney General sysrs' Suit Certain to
Dr;nn Results-combats companiss'
Plsa That ausinsss Would BE Ruined
-Dysrs Believes lewa's Growth Has
Been Retarded by Unfair Rates.
Special to rimes-Republican.

Tdo fe0OctlOn aSkeo ny AoWd SHY
pers Is per cent from h present
schedule Of maximum rates. Such re-
duction. according to the companies.
would wipe out all profits in Iowa and
more: but according to the shippers 1t
would mean such an increase in BUSH
ness that it would greatly add to the
enormous present profits Of the COM
panies.
Attorney General H. W. Byers, on be-
half Of the people Of the state and more
especially as representing the Iowa
shippers In the suit Of the Iowa State
Manufacturer Association. has just
filed with the railroad commission an
argument which, unless it is held to be
wholly at variance with the facts. will
compel q reduction Of the express rates,
for he gives the figures to show for 1t
that the companies have not only made
exhorbitant profits on their business as
q whole, but have done we'll on Iowa
i~ntrastate business. All the Stats
tics are gathered from the official re-
ports Of the companies themselves.
Profits Enormous.
The reports of the four big companies
show that for 1909 they had a COM
bined income Of over 102. 600, 900 dollars
F.. and a net profit Of over IL, 900, 900 dol
lars. The business Of the American.
for instance, increased from about $22,-
900. 900 In 1903 to $50. 000, 900 in 1909.
The companies pay from from 40 to 81
per cent of their gross receipts to the
railroad companies. 1t is figured out
that the American makes an annual in
come Of 122 per cent on the value Of
the equipment as given in the company
reports. II there should be deducted
the overcharges of the railroads the net
profit would stand at 269 per cent.
In like manner It Is figured out tina
the Adams makes 333 per cent profit
on h value Of equipment and In the
case Of the Great Northern Company
the true net profit percentage is 1871.
The report Of the Great Northern.
however, shows that on a business in
Iowa Of $5.901 the company saved out
only $142 for profit.
Business is Growing.
Attorney General Byers presented to
the commission statistics showing In
brief that OF the strictly Iowa business
the percentage of profit t o equipment
actually used is, for the Adams, 600
per cent; the Wells Fargo. 230 per
cent; the American. IS to 65 per cent:
the United States from 60 to 70 per
cent.
Attention Is called also to the fact
that all of these large companies have
grown from small beginnings to enor-
nous corporations practically upon
the. business done and from the earn
ings Of the business that only last
Jan,lry one Of h companies gave the
stockholders out Of the accumulated
surplus s24,ooo,ooo d, and that while all
h companies are able to show very
poor business in each and every state
in which business is done the reports
all show great profits.
eyers' Strong Plea.
In his plea for reduction Of the ex-
press rates on behalf Of Iowa prosper
ity and Iowa industry the attorney
general said:
There is no other one thing that IN
creases population. stimulates enter
prise, accelerates growth and develop
menta and adds to the stability and in
dependence OF a state so much as man
ufacturing. and no richer field car be
found anywhere in the country for
factories Of all kinds than right here
In Iowa, and yet that business is in it's
infancy here; in fact It may be truth
fully said that we rave hardly made a
beginning along that line. There must
be some reason for this situation, The
cause can not be found in a lack Of in
dustry. thrift or enterprise upon the
Part OF u people, because there are
mono who excel us in these virtues: nor
can It be found in a lack OF the means
OF transportation and communication.
because state Is gridironed with
railroads. telegraph and telephone
lines. running east, west, north. and
south and to every corner of the state.
We have abundant capital. a productive
coil and q healthful climate. and a
state full Of men, women, BOYS and
girls willing n capable to do every
part Of the work involved in operating
factories, and the demand turnout the
country for what can be made in Iowa
factories is unlimited and yet we find
ourselves shipping raw material thous-
ands OF miles away to be fashioned
INTO the finished product by strange
hands and carted back to us at great
expense for transportation. thus filling
our shops and stores with goods and
wares. most II not all Of which could
nave been made right here at home to
our great and lasting benefit.
Real Reason For Loss.
TO n the true reason for this tre-
ouShI W US luS UuSIS
ness OF every patriotic Iowan. There
may be. and undoubtedly are several
contributing causes. but I am sure that
no unbiased person could read the rec
ord in this case and consider 1t with
h clean cut forcible logical argument
made by Mr. Wrightman for the man
ufacturers' association, without finding
one Of h principal reasons. If not the
principal one. why Iowa instead Of
gaining population has lost. and why
the state Is tagging behind in manu-
featuring instead Of forging ahead as
le ought TO.
The Iowa factory to grow must have
p widest possible use Of the fast par
eel carrying service and the promptest
po10Sble movement OF goods and ma
to11als among the people. This IL the
vety hasis Of prosress and the manu-
SNkunn ~ InRa havA tha raRht - ~.