Putnam patriot., 1910-09-02
Byron ID. Bug be C


terests involved in the general man agement of railroad system. l vent ,ure confidently the assertion that no tribunal could be created by law which would be more certain to re spond promptly and efficiently to any appeal for the public good than the Board Of Directors of this corporation.
 The Board of Directors and the off eers of this corporation find no antag- onism between their duties as trustees Of the great business placed under their charge. and the interests of the public whom this railroad serves They know that there can be no pros perity for any railroad which does not result from the prosperity of its terri tory New England is of in corner of the country The raw products of it's manufacture come from distance It's finished products find distant mar. kets. The prosperity of New England is dependent upon the maintenance Of freight rates which are no heavier than it's industries can bear The New York. New Haven and Hartford railroad company Is all the time con tending for the maintenance of such proper relations between the different portions of complicated national system of freight rates as shall justly protect New England industries against their competitors in other parts of the United States.
 In the matter of public service. the officers Of this railroad are all aware that the best and indeed the only way to secure for a railroad the high est degree of prosperity. is to attract the greatest possible business. by giv- ing the best possible service.
 In their turn. l think Connecticut people ought 10 realize clearly that any political action which materially decreases the earnings of its chief railroad company will injure the pub lie even more quickly and more seri- ously than il will the investors in the securities of that company, There has never been any considerable se- ries of years In the history of this company during which all of the net earnings of the company have been paid out to the holders of its seeuri- ties. IL has always been the practice of the company to invest ail of these net earnings over and above the eN pected return to investors in the i'm provement of it's plant Any action hy the state winch lessens tne earn ings ot the corporation will naturally tend te diminish the power of the cor poration to improve it's railroad and will result necessarily in less efficient service Any political action which diminishes the earnings of this corpor- alton will also necessarily tend to i'm pair it's ability to pay fair wages to Us employees. and to give those orders for the purhcase of supplies upon which the prosperity of so many citizens of Connecticut depends. The railroad cannot pay so much for wages or for ties or for machinery or for thousand and one things unless u IS allowed to earn money with which to pay fer them.
 could answer the questions of ynur letter more specifically, if I knew more specifically what the abuses are which 1t Is desired to cor rect Sometimes it happens that they are abuses which call for drastic rem edies- Sometimes such abuses can be corrected by very simple remedies. IL seems te me impossible to intelli- gently discuss the remedies. without having definitely in mind the evils to be remedied think the intellec~ tuai atmosphere surrounding this dis eassion would be much cleared. if there could be a preliminary eonsid- erstion, in detail. of the evils which Connecticut men find to complain of in the conduct of their railroads.
 frankly avow that l am not op- posed 10 any legislation which. after such consideration. may seem to be necessary for the correction of any real abuses. actual or threatened. believe that any such iegislAtion which Is really necessary would hene- ns the railroad ss much as the public. have no doubt that the E1kins Law foreiddink rebates to shippers has benefited the railroAds of thu country quite zs much as 1t has the business world h general l believe that the main advantage which has accrued to the public from Federal lsgislnttce with regard so railroaas. hns srcrae1 from the Eikins Act. e0cieatly e.