The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1912-05-29

munities made the party guests of
honor a formal dinners in the early
evening Sometimes as many as three
hundred persons took part in these
banQuets. After the dinner the WIS.,
itors We're escorted TO their special car
and night travel was resumed. Day
peated, and the Informal conferences
between the citizens of the commune
ties and the members of the party
were very helpful 10 the electric rail-
way interests of the country. Testi-
mony of that kind was given to the
members of the party by representa-
tive citizens of every community which
they visited.
Building Up Towns and Cities.
Withtrt exception of any town or
was demonstrate n IF the very helpful
effect Of the highway trolley and cleo
trio railroads in building up towns and
cities ard then in linking them to-
gether.
The principal theme in all the ad-
dresses was the public relation of
these electric transportation COM
panies. These executive officers dis
covered many things that communities
want, and they have also learned how
to do almost all Of the things that are
wanted The party was rejoiced to
discover everywhere a most cordial
disposition and a desire on the part
of the citizens t. deal fairly with the
electric companies.
\ Little POI:tical Economy.
In one of the larger communities
visited by this executive committee
there was discovered disposition to
question whethe-' or not capitalization
of the electric railroads and highway
trolley companies did not contain
good deal of waIer. Frequently mem
bers of. the committee were reminded
of a statement made by Senator La
Toilette that the Steam railroads of
+I,a feC q
of eleven billion dollars. The senator
appears 10 have persuaded some peo-
pie that in the capital of the steam
railroads of the United States there
are five billions OF water. There seems
to be some disposition to support the
senator in his alleged purpose of
sque ezing this water out and then be-
ginning all over again.
President McCarter, who before he
became prominently identified with the
electric and trolley railroads of New
was one OF the leading lawyers
of New Jersey and for some years
ark deemed it expedient to explain to
those persons who have been inf1u-
enced by Senator LaFollette's state
ment what would be the effect of
squeezing five billions OF water-if
there really be any water in the rail-
road capitalizatio n-out of that CAPT
tai He was the better prepared to
make answer because he is the owner
steam railroad company. He told
these inuuiring persons that if the
policy advocated by Senator LaFollette
were adopted, thera would not be a
home in the land, however humble or
remote Il at would not have a shadow |
cast &C .oss it by such reputation. He |
told thcrn that these railroad securi- |
ties were issued under the law and |
with the acquiescence of the public. |
These securities are now scattered far |
and wide. If there were any watering |
the man who did it long ago unloaded |
the securities upon the public. The |
public bought them in good faith. |
Therefore. if there be legislation !,
which Will affect the capitalization of |
the railroads it will hit not the man
whom the public wants to hit, but the |
innocent holder Ct the securities. Those /
who will suffer are those who least of
all ought to suffer, for they have in
vested their honest money in the |
In all of the addresses made by the
members of this party it was frankly |
and cordially a1mItted that electric |
railways and highway trolleys are
for that reason they
should De thoroughly regulated and
supervised by public service commits
sions or other boards. care being taken
hat these boards contain none but men
IF experience, thou htfulness, courage
and absolute integrity.
HOLLAND.