The Oakley herald. [volume] (Oakley, Idaho) 1908-1961, 1911-03-10

IN FOUR PARTS-PART 3
champions AHgaziAe)
PART PLAYED BY THE EXPRESS
COMPANIES


the eating. Every enlightened
country except the United States
has parcels post. No country
would think of abandoning it,
any more than it would think of
disestablishing its letter postal
service. In the experience OF all
the world the argument about
injuring the country town is
sweepingly and completely retu-
ted. The small town would gain
vastly more than the large town
by this tremendous increase and
improvement of its transporta-
tion facilities. The whole public
would benefit, for precisely the
same reason that it benefits by
having fast steamships instead
of sailing vessels, limited passen-
ger trains instead of stage
coaches, two-cent letter postage
instead of hve.cent.
The people who oppose t h {
parcels post are the innocent
and unwilling dupes OF the ex-
press monopoly. This is the one
point in the parcels post argu-
ment that cannot be too con-
stantly emphasized. When the
dupes are brought to understand
their true interests, Congress will
not dare stand for single ses-
sion as the protector of express
graft.
Small wonder that the express
companies are fighting with
every resource against the par
cells post. They constitute one
of the greatest groups of 6napz
cial power IN theeoxI 11
are united Gfnk '. g
companies s4e b.
ers in the co.'s IE1G ~ (..e
ted States Express Com
was shown by the report OF the
Public Service Commission of
New York, issued in 1908, to be
capitalized at $1O,OOO.OOO. Of
this the Adams Express Com
pany owned nearly $1.OOO,OOO,
the American Express Company
exactly $1,OOO,OOO, and the
Southern Express Company
$4,000. How tremendously
profitable the business of the
United States Express Company
has been is sho wn by the fact
t h a whereas the company
claimed an investment OF only
So, ,O42 900 in real estate and
equipment, it had 81 AGA, 900 in
investments, $895,OOO in cash
holdings. and 81 100000 in col
lateral and other loans That
is to say, while this company
had little more than $2,OOO,OOC
invested in its transportation
business, it had more than $40,
100000 representing surplu:
and undivided profits in genera
investments
1t has c.umulated such vast
profits because it has been foI
many years charging uncon
Scionable and scandalCus rates
for its service
The Adams Express Company
is shown by the current number
of MoOdy's Manual o h VI
$12, 100000 capital. After pay.
ing large regular dividends and
numerous extra dividends f o
many years. the company ir
1907 found itself with such a
tremendous surplus that it act
uslly paid special dividend o.
200 per cent in f. per cent bonds
Every holder of a one-hundred
dollar share of stock was pre-
sented with two hundred dol
lars worth of 4 per cent bonds
The present, of course, represen
ted in part the excessive charges
which the company had beer
permitted to collect from the
public.
But the most startling stats.
tics of express accumulations are
the financial statements of Wells
Fargo & Company. For many
years this company's capital
stock was $8,OOO,OOO. It's most
recent statement, as published in
Moody's Manual, listed these
assets: Real property. SAL, ,O0O,,
900; equipment used in trans.
portation, @2,044,OO0; stocks
owned as investment, $3,211,.
600; bonds owned as invest.
meet, $3, 100000; loans, $17..
165, 900; cash on hand and in
the bank. SIS, $4,000.
Such were the accumulations
Of this company whose own
| ofo ofer,,auf admitted 4 h a <h.