The daily Gate City. [volume] (Keokuk, Iowa) 1855-1916, 1910-10-28
President Ripley of the Santa Fe Has
Something to Say About the
Charges Against The
Roads.
NO GREAT PROFITS
His Road Pays Less Than Three Per.
cent on the Investment to the
Owners of tho
Stock.

TOPEKA, Kan. Oct. 2s.-President
e. P. Ripley of the Santa Fe fired two
broadsides at the men who are at
tacking the railroads-on in a speech
and one in letter addressed to Gov
ernor Stubbs.
Last night before mass meeting
OF citizens of this city in his honor I
Mr.. Ripley said: "The theory of wat
cred stock is today untrue as to most
of the railroads of the country and
particularly untrue as to the Santa
Fe.'
Discussing the relation between
railroads and the general public, he
said:
How has the duty Of the public to
! the railroad been performed and does
the public owe any duties to the rail-
road? The answer to this question
will vary with the views of him who
4 is asked, but all would probably agree
as general principle that the public
owes the railroad:
1. Protection for its property.
2. Freedom from interference with
its business methods as long as they
are clean and honest.
This is all we ask. We do not
4 seek to evade legitimate responsible
ilities.
TN the forty-one years that have
J, elapsed since the original line was
. projected from Atchison to Topeka
!, the Santa Fe has paid its owners less
than per cent on its capitalization.
We are told there is water in it--I
don't think so-but suppose even that
1t is one-third water the earnings
would still show less than per cent
on the actual capital invested.
"Is that an excessive return for
: those who have risked their money in
] the enterprise? Even now the prop
erty is earning very moderate re-
5 turn on its value, and yet you are be
/, ing told that you are paying the rail
5 road too much and the state officers
: are spending the taxes in the effort
to reduce your rates.
Il have no hesitation in saying tha,
if a regular debit and credit account
, had been kept, charging up on the
one side the actual cash outlay with
regular savings bank interest, anc
crediting all earnings on the other
the state of Kansas would be some
millions of dollars in debt to the
Santa Fe.
I'VE do not want to be above the
L.
lation of rates as a settled policy o
! the government, but by what authorit.
: do your state officials proclaim tha
the railroads are earning too mucl
and that rates must be reduced?
= "What experience have they tha
iustifes them in assuming without in
vestigation and without knowledg
that rates are too high? BY wha
authority do they, acting for you an
Il all other citizens, prejudge the cas-
before trial and send emissaries q
1T state expense all over the country t
argue the case AGAINST the railroads
"The people are giving NOR
thought to the railroad question mo-
Il than they ever did before. That is
" hopeful sign. When the people civ
Of attention to both sides of problei
Sc tney become more liberal in the
e views.
le "The Santa Fe has been forced il
OF to a publicity campaign to give to II
public its side Of the controversy. tn
campaign has been REGARDED with ia
or bv the people because it is educ
!. tional The things we are telling II
- - reonlo are so. And it is gratifying
~ ~ the officials of the Santa re to leai
in from the people themselves that th'
na ~ believe we are telling the truth"
as Gov. stubbs Talks.
We CHICAGO, Oct, 28.-"The ~ailroa
is Of this country ought to be broue
mr. ont into the daylight was the kc
rt note Of a statement made TODAY to I
United press by Gov stnhhs of Ka
sas. a witness in the railroad ra
hearing.
is He told the interstate CONNER
Us. conmission that the railroad bo
led OUGHT to he shown to the public
it He said that 9T wears ago he sta
err cd life as a railroad contractor
cir he believed he could renroduce eve
ces line of railway in Kansas and make
red nroet for $50 100000 Hc said
main lines could be huilt for s25'
a mile and the branch lines for $
600 mile