The Meridian times. (Meridian, Idaho) 1909-1938, 1911-04-14
is HERE TO STAY
Control and Publicity for Public
Service Corporations.
VERDICT or PROMINENT MAN
Theodors ". Vail, President Of West.
ern unlen ars TeisgboEe compa.
nlss, Recognizes Rights ef the
American Public.

Public regulation of public service
corporations has cnfns 70 stay. IL
! ought - have eogaA and fl ought ID
Atay, That Il the sat and HneauiyoeaI
assertion ~ Theodore N. Vail, prsaI.
dent 81 both the American Teiephons
and Telegraph company and the West.
egn Union TelsgfsDh company. Il
came ~ the form oF his annual re-
port % ths seventy thousand stock.
hoidsFs Of the iwo great corporations.
Although Nr yaiI's advocacy of fall
publicity 10 connection With che affairs
~ eueh concerns was we'll understood.
nobody IN fnanciaI circles had antici
pasad 20 frank an ayowai III fIllI pub.
lle rights IN the shaptng IN their gen.
srsi conduct Il came consequently as
q surprise, NOT only because of ia
novelty and aqaareHeaH, bot also on
account 81 the unqualified aequles
eenes 81 4 board 81 directors eompris,
Ing such eminent ard conservative
iiBanelefs Al Robert WlnEon, al Kid.
def. Peabody 4 CO.. ana Henry Il.
illgEinann of BOSTON. Henry =. nayi.
son 81 ! Y. Morgan d Co. Senator
" Murray Crane, George i. I3aer.
r Jefferson Coolidge. Jr.. Norman VI
ilRrfiH. John Waterbury and olhers
President NaiPa declaration Ii her.
aided AZ tbs figst recognition by those
IL high corporate authority 81 the lla.
ties N the dernena thar the public
b# regarded IN virtual partners
IL All matters that pertain 10 the com.
aion welfare HE goes directly 70 the
point
Public control 0r regulation IL pub
iie service corporations ~ permanent
ooflmiaatuns no rays. hRs come and
auia 70 stay Control 81 regulation,
90 BY effective, means publicity;
II means semtpublir discussion and
liberation before action Ii means
yihing which II the nppo.
alta nf and inconsistent With eifectlye
aafapatltien Competition aggressive,
Ffpatiye competition meana strife.
iatiuasriai warfare; II meana conten.
ION n atteniimea means taking ad
stage oF of fasor,ing 10 any means
ttat tho conscience 81 the contestants
oF the degree os the enforcement Of
the laws viii permit
Agste9stye competition means du.
piicatlan ~ plant aud taytstnsat. The
ultimate object Of such competition
Il the possession OF the field wholly
VI PARTIALLY therefore II means eth,
RI ultimate combination on such
basis and with such prices 40 win
cover past l0asea on Il means loss or |
return On Investment and eventual
'aaa 81 capital However Il results.
~ costs q aggressive. uncontrolled
competition are eventually borne,
directly or Indirectly. by the public. |
Competition which II not aggressive.
'feauBpnaea cooperative action, Under
agreements, which result
h general uniformity or harmony of /
aetton, which, IN fact, il not cnmpetl
Ion bat = combination. unstable, but
.oe the time effective, When thor,
taghly understood Il will be found
hat 'eontrot viii give mere OF the
tehenis and public adv an.ages. which
nv expected 10 be obtained through I
saeh ownership, ard WIN obtain
hem without the public burden Of
'stheF the public utIlce holder OF pub
te debt on operating deficit
When through a wise and IudIclous
tate control and regulation ali the
advantages without any Of the tllsad
az state ownership are So
'afsa. state ownership h doomed"
w Nth Vain is right" SAYS
iarper'B Weekly. IN concise sum.
alhE up, sthsn Il seems pretty plain
bat we are entered upon a new era ii
'ath aruaaniCs aud politics. And Il IA
,tSh thine We did II evolution ID 10
upplans revolution as an efficient 1
GREE in the development Of elvilisa.
iun."