The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1912-06-20
A RAILROAD QUESTION.

everybody WOulQ De pdrOOneu Iof
| laughing at a charge that William r.
Hearst and his many newspapers are
| in cahoots with the interests" which
rather indefinite term is merely an
other characterization for trusts" of
all sorts, real and imaginary, the rail-
roads included. Certainly, his publ
cations, in their news and editorial COL
umns have been belaboring the inter
ests" night and day these many years.
And because of this fact there is un-
usual force to an editorial which ap
peared recently in one of Mr.. Hearst's
papers, the New York American. It
was written by B. C. Forbes, the bust
ness editor of that paper and is as fol-
lows:
'Are American railroads heading
toward prosperity or toward bank
ruptcy? The question concerns not
only banking people, not only railroad
managers and employees, not only in
vestors in railroad securities. 1t con-
Germs you, no matter what your station
in life. You cannot afford to remain
Indifferent to it, for were widespread
trouble to overtake our railroads, the
people as a whole would suffer, and
suffer more seriously than the thought
less can imagine. True, the public in
bygone years had too often cause for
wanting to punish railroad owners who
acted in the most autocratic, some
times insolent manner, defiant of both
reason and restraint.
but has not retribution enough be-
fallen the railroads? Is it not time
that halt was called in imposing re-
StrictiopS Ynop the running of oI1r vail
ways? Can the hands of railway man
ayers be tied still tighter with impunity
to the public?
"Ths man in the street cannot be ex-
pected to spend hours and effort in an
alyzing intricate railway accountable
has problems enough of his own nearer
home. He has a deep rooted feeling
that the railroads are very we'll able
to look after themselves and little
more. He has not forgotten the past.
II a vague sort of way he realizes that
the railroads have been tanned a bit,
that the government has bribed them,
that when they planned to exact higher
freight rates a federal commission had
the power to say No and that in
other ways the railroads cannot now 10
as they please. But that he should be-
come solicitous concerning their well
farewell, he guesses that is none of
his business.
Now is it the business of you or me
to worry over the knocks the railroads
are receiving? Should we pay heed to
the now chronic complaints of fresh re-
strictions and impositions that, accord
ing to the railway people. threaten the
financial and even the physical stabil- |
ity of the railroads? I am inclined to
think we should.
Every one can readily understand
that the country could not prosper
were railroad after railroad to go
under An impoverished, decrepit, |
languishing railway is a handicap 10
every industry and interest depending
upon it for service. Not only so, but
when a road begins to go down hill its
power to get capital vanishes, and the |
funds necessary to maintain the prop
erty cannot be obtained-and therefore
cannot be spent. Stockholders in course |
of time suffer the loss of their income, !
ard, unless something helpful be done, |
bondholders also have to starve, events |
which hit the pockets of thousands
indeed, if bankruptcies became gem
eIal millions of investors would be in
volved. Is there any danger of this |
happening? Railroad authorities of |
sound Judgment say there is.
Without holding any brief for the
railroads, it can be said in all truth !
that the outlook is not inspiring A |
railroad manager is not today a man
ager in the old or full sense of the |
term. He has now a superior-the In
terstate Commerce Commission This
body has maximum of power, but a |
minimum of responsibility. 1t can
and does-order railway income to be |
reduced without having to trouble itself !