Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1911-03-03

H8s& y. shipper mus MS Iates w iie'S"'
= 3SNSe been raised when he asks for re-
licf? He must go to the Interstate Com
Nghission in Washington. The question
ASKED first is how much las the b. 4 ~
&N1nyested in its plant? And next, what Is
VA fair return on that Investment" Then
the shipper is not allowed to show no"
the B. & A. came 10 invest 50 much II
rs plant and he may not be able to
show, probably, and l have that direct
from the secretary of the Interstate
Commerce Commission. that the rake-oil
has been taken by the stockholders or
that the rate was due to inflated prices.
He finds that the B. & y. will be per
lnitted to charge a fair return on the
ostensible investment, whatever that may
be.
1t comes TO the question whether we
shall permit any further infiation' or
whether we shall say TO this railroad
you have had 80 per cent. rebate from
the State to help YOU on your taxes Il
am not here to argue the wisdom or I'M
wisdom of thatl. you have had monop-
oily provision in your charter which gave
yon control of IL miles of territory on
each side Of your line. so far as steam
railroads are concerned. You have had a
special act in the laws of 1908 which has
permitted you to load your road with wa
tered stock" Shall we not say to them,
gentlemen, You have had all the special
favors from the State that YOU are en-
Z titled to- Now go ahead and build your
Allagash extension. Nobody objects to IT.,
but build it under the sane and decent
laws of the State of Maine. Charge the
a
for every legitimate dollar invested In this
extension, and If We have to stand some
increase Of freight charges for time
on account of the lack of profit on the
new extension we will not complain But
from this on you shall have no right any
more than any other road to charge your
shippers with interest on an inflated Issue
of stocks and bonds
fssz4s have tried to show you. and nave
gone over this hastily that this is not
revolutionary scheme, as l apprehend
counsel would have you believe, or TO
talk something new. They came here two
years ago and said they could not puiid
in the Allagash unless We gave them an
extension on their rebate. The Legisa-
ture said. and very properly. that what
ever has been done in the past. no more
tax rebates would be given in the future
II they come here and say to you. we
cannot build in the Allagash without this
special provision which provides for an
imitation of our securities. without this
rake-on to the construction company,
then / say tell them to let the Allagash
extension wait until there is demand ior
IL to he built on an honest, sane and
sound basis.
That is all there is in this amendment.
and / do not know whether | have MADE
II plain. j have tried to do 50, AS
said at the beginning, if any objection Is
offered to any part of the amendment Il |
anybody thinks there is anything In the
amendment beyond that, am ready TO
accept any change that does not defeat
the main purpose.
1t is not offered for anything new. but
to take away any special exemption they
have had. and whether they ought 10
have had il or not they have certainly
had ii long enough.
/ hope the amendment Will prevail =
Mr. MULLEN of Penobscot: Mr. Pres |
ident. / am not only interested i'll the de- |
velopment of the country north OF US, |
not only the county of Aroostook bat also |
in nv own county of Pcnobscot and the |
adjoining county of Piscataquis / have |
listened with a great deal of attention, |
with as much attention as l could, to the |
argument OF the senator from Aroostook, |
and l gather from what he has said that |
the condition prevailing today and the ex-
tension asked for by the b. \. people
is lust the condition that they have had
they have not been able to build the Al |
lagash branch and they have had, accord
ing to the deduction l have made from
the senator's argument AL the chances OF
graft and watering their stock and in
hating their bonds, that they are asking
for in this extension. Now If they have
not been able TO do it III the last two
YEARS. with all the privileges that they
have had and with the markets of the
world in fairly good condition, 1t seems
TO me that if we cut off that privilege,
or IL W. adopt this amendment. that we
might just as we'll refuse the extension
Of the time which they are asking for.
Most men would tell you, gentlemen
of the Senate. that If | had anything to
say in relation to the 3. & y. railroad
assyA4 IL would be hostile but do believe
tif5t We must hold out inducements to
capital 10 come to the Stale of Maine,
particularly in the remote and northern
regions of this state. | have done some
work in that direction myself and ! know
that people do not want 70 come here and
do not want TO send their money here for
possible three or three and u half or
four per cent. investment. They can get
that without trouble in other places.
/ have not very much TO say on the
1natter. ] could not say very much if !
wanted TO; but ] do hope, Mr.. President
and gentlemen of the Senate, that the
amendment offered by the senator from
Aroostook will not be adopted.
Mr.. KELLOGG of Penobscot: MI
President it would be useless for me 10
undertake TO say anything that would
make this palmer than Senator Miiliken
has done am surprised at a man
have seea here from Bangor. lobbying
against this amendment, man that in
Ye4rs past has said as much against the
j. a. a. Railroad, more than the men in
~--sroostook county have said, and they
have gone SO far here today as 10 want