The Richmond palladium and sun-telegram. [volume] (Richmond, Ind.) 1907-1939, 1911-03-25
EXPRESS CARRIERS
MAKE LARGE GAINS
Enormous Profits from Bus
mess Stagger Belief
Story of Growth.

Albert w. Atwood, in the American
Magazine february tells OF profits
by the various express companies
which amount into the millions, yet
the original Investment, more particu-
lsrly with reference to the Adams eX-
press copany, as described In the rail-
road commission of Indiana. was prob
ably "the price OF valise carried by
Alvin Adams" In March 1880.
u IN believed, however, that William
J.. Harden became the founder OF
mighty institution when he made his
first trip from New York TO Boston.
with one valisc. That trip was really
the start OF the express business, but
today the business has grown till ex-
press companies buy transportation
wholesale from the railroads and sell
II. retail, to the public.
Doubt is expressed by the writer
if the Adams company has put one
cent Of now money into the business
since 1866. Indeed. there is grave
doubt IL any capital was ever invested.
TIL within recent years the express
companies were a kingdom unto them
selves, and IL was not till 1896 that the
companies we're placed under the auth
ority OF the interstate commerce com
mission. that year marking the decline
and fall from senatorial power of Platt
and Depew.
The express companies were repre-
scented in the senate by both OF these
men for a generation and before that
by Calvin Bryce In the meantime
their profits had swollen enormously.
In the first dash by the interstate
commerce commission the express
companies were caught In clumsy
effort to conceal millions of profits.
and which the commission decided
were Fictitious expenses"
During all the fifty years and more,
the express companies have gone
ahead slicing big, fat watermelons.
and yet. literature bearing on their
operations. In the way of official re-
ports. or such other matter as might
be called data, has been notable chief
ly because of its absence. Even yet.
there Is nothing explaining why its
costs II cents TO send fivepOund
package two hundred miles in England
and 80 cents to send 1t the same dis
tance by the American in America.
Yet, OF recent years. at least the six
big express companies have been earn
ing $l25. 100000 a year. and the service
which they perform has become an in
despensible part of the country's in
dustrial mechanism. So mighty have
the express companies grown that in
1880 they declined TO give information
to the United States census bureau,
and In 1890. what little was reported TO
the bureau was grudgingly given.
No Stockholders Meetings.
Not till three or four years ago did
the companies keep any general sta
tistics regarding their own business
The writer boldly avows that the Am
erican express company, during the
half century of its life. has never had
an annual meeting of stockholders.
while the United States express com.
pany has not held an annual meeting
since the civil war. Many of the
stockholders who reap golden harvests
therefrom. do not know how the bus
mess Ia run. There Is now. however.
u disposition by the general public to
know why the express companies have
no long enjoyed immunity.
A petition of l2i commercial bodies.
and one by the American Bankers
association. demanding an investiga-
ton. has been filed with the interstate
commerce commission, and possibly
there may be regulation of the bus