The evening herald. (Klamath Falls, Or.) 1906-1942, 1911-12-04
COURTESY 4 RCsiNkss ASSET

q PEAKiNG before a number Of
- trainmen employed on the South.
ern division recently. x. J. CLANCY.
asSistan, TO general manager 4. 4,
Calvin OF the southern Pacific. said:
The quality OF the railroad cm.
ployc Is the chemical employed by the
general public TO determine the quail
ty Of service furnished by the railroad
aud the extent that the empioye sat.
isfies the public to that extent tn.
pr scipita,e Is free from alloy. Up-to-
date equipment. speed. ailuring ad.
vertisements are no, as important rs
courtesy and concern In the care and
comfort OF passengers. Every dis
courtesy Is an over-drAft on account
of the employe with the public. every
courtesy an asset
Railway employees in all branches
OF the service occupy practically the
same relations to their positions as
does the owner OF railway stocks to
the owner of railway bonds. or ms does
the owner OF mortsaged property to
his property. Their position Is the
property. the rules OF the company 10
the mortgage. and their pension is the
deed that invests them with absolute
title. II the owner OF mortgag d
property violates the provisions OF the
mortgage. he forfclts title TO the prop
erty; II he complies with the terms of
the mortgage. he receives a deed and
acquires absolute title. II a railway
employe violates the rules he for
feits the right and title TO his POSI-
tion. but u he complies With the rules
governing his employment. or. In 9th.
er words, with the mortgage held by
the company. on reaching the age of
retirement be acquires title and deed
In the form OF a pension for the re-.
mainder OF his life.
There are four classes OF invest
ors In n railroad: The empioye. the
public. the stock holder and the bond
holder. and In the order In which they
are named they are directly concerned
In its material and financial welfare.
The employc. because Il affords the
only market for the particular kind
Of labor he has to sell. the public be-
cause Il is essential TO successful COM
merciai and industrial existence and
evolution. and 10 the only agency af.
fording substantial intercourse BE-
tween producer and consumer. In
vestments In business blocks. factor.
les. farms and city property. In short
Investments by the public. depend
upon the quality and quantity Of ser.
vice furnished by the railroad. the
profits OF these investors being gov.
, erned In large measure by the build.
Ing up Of commercial centers. the di.
!, versineation OF market and vide and
} prompt distribution Of products. A.
} the railroad In the only market In
which q railway employe may sell
railroad is the only agency through
which . producer may obtain a vide
ly diversified market. The stock
holder and the bondholder are inter
ested as direct investors. but are not
more dependent on the Investment
than the employe or the public. 10. In.
deed. as much. while II In very evil
dent that a. bcnihciaries, the employe
and the public receive greater proAts
and greater benefits from the invest
ment Of the stock or bond holder than
he himself receives. Indeed. the stock
holder stands sixth In the line Of cred
itois. Ahead OF him is the empioye.
the tax collector. the bond holder. cur
rent charges for material and sup
plies and the public. II Is only after
these demands have been met that
the stockholder may realize on hts
investmep'
Remembering that the railroads
Of the United States employ more men
and pay out more money for labor
than any other single industry In the
world. the wisdom Of the public show
Ing fair treatment In dealing with
these properties Is apparent. For cer-
tain IL is that SO great an industry
cannot be imperilled without affecting
adversely and In q substantial degree
the whole Industrial and commercial
ediflce."