Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1911-08-04
PROGRESSIVE LEGISLATION HAS
INJURED NO LEGITIMATE
ENTERPRISE.
FIGURES SHOW RAILROADS
HAVE NOT BEEN HURT
w. e. odel Presents Statistics to
Provo That Companies Arc Prosper
ous-corporations Driven From Con.
troll Of Affairs Of Administration Of
State and Nation.
al to Times-Republican.

Special to Times-Republican.
Des A1oines, Aug 4-Progressive
legislation has not destroyed property
no.' ruined profits Of legitimate enter
prtses and the complaint of the corpo-
rations against the progressive move
nlent as one directed at business is not
we'll founded. SO says W. o. Odell, who
for many years has made a study Of
this question. In regard to one phase
Of the question. that of the effect of
progressive legislation on railroad
earnings, Mr.. Odell furnishes the fol-
lowing statistics:
We have heard great deal about
progressive legislation and policies ap-
piled 10 railroad properties resulting in
practical contiscation of the railroad
interests of the country the past ten
years. II is interesting to note in two
instances. which are no exceptions TO
the rule, the practical operation of leg
islation in view Of these dark fore
bodings.
The earnings of the Illinois Central
railroad in the year ending June 80
approxinated S1a per cent on the
Slo9,2s6,o00 capital stock. This COM
pares with III per cent earned in
1910 Accurate figures for the current
Year are only obtaira BILE thru May, but
in eleven months gross earnings We're
increased $4,000. 600 About one-third Of
this is passenger earnings The in
crease in transportation expenses took
up half of this. but ma rked lowering of
maintenance charges left net oper-
atirg income for that period Of 3d.
800, l2l. en- increase OF s21.O00O, or
about 19 per cent. Other income may be
estimated at s4.700, 600. and all charges
at about $500. 900 This would leave
about 100000 earned on the stock or
So per cent on the issue. The June in
come and adjustments would seem 10
assure earnings in excess Of SIP per
cent. There is fair prospect that the
coming year viii show even a better
surplus. a rather fine exhibition Of
coafscatior.
Another Illustration.
Here is another still better and
more convincing illustration of the per-
nicious effect of this 'insurgent' revolu-
ton as affecting this kind OF property
The Atchison, Topeka &, Santa Fe rail-
road will also show Improvement over
1910. The balance after IL charges will
approximate 9ia or 10 per cent on the
sl65, 100000 common stock as against
S.89 per cent in 1910 And yet President
Ripley, poor President Ripley, in the
face Of this showing, insists on feel
ing badly and giving expression to his
pent up emotions in these dolefuI
phra ses:
The farmers are prosperous, but I
haven't changed my views on the men
ace OF underlying conditions: political
conditions i consider most dangerous
This phrase underlying conditions
is good. Yet notwithstanding these UNI
deriving conditions and political con-
d!tions that are so dangerous TO busi-
ness. that Mr. Ripley is so alarmed
about. his road is doing very well in
deed Would It not be better for him
self and the property he controls, es-
peciaily in view of the earnings above
stated, to cheer UP. 1t is better to live
in nope than die in despair"
but Mr.. Ripley and other gentlemen
OF like kidney might as we'll bow to
the inevitable that the railroad COM
panies will not be permitted again by
the people to control the Administered
ton OF the affairs of the nation. and
the sooner this is realized and accent
ed the better time they will have the
remainder of their existence"