The Washington herald., 1912-10-14
lssIIls
PROPOSED MERGER
Rev. John yaa ssAaisk Jr.,
Prssehss On de slbject ef
rublie Utilities.
STOCK WATERING coHDE1nxD
|srocK WATERING co1DElnzD

S4SS ~S~.
Public utirtiesN vas the theme Of .
remarkable sermon in which one Of ''the
two great systsms OF street railways''
was harshiy criticised by the preacher.
Rev. John Van schaicl. jr. At the Church
Of Our Father. Universalist. Thirtsenth
and L Streets Northwest. ysbterday
morning. Mr.. Van schaick had - his
subject. The Good Citizen" and hls text
was what doth the Lord reQpirs Of
thee but to do Justly. love msre3. and
walk humbiy with thy oodr.lAicah.
via
Mr.. Van schaick said:
Tn the Capital City Of our country We
have two great ssytems OF street rail-
ways. For many years the financial con.
troll Of one Of these systems has been .
puxzle, . wonder. . scandal or . humil-
iation. ~ We have happened to look at It.
Many Of NJ have not understood what
was taking place, and we have wondered
ness and was economically managed
should be in financial dimculties. Others
of US have looked beneath the surface
and have seen the capital stock enormous
ly increased without the investment OF
any money, the road called upon to pay
dividends upon these millions OF Uatered
stock. and finally the whole system
wrecked. the stock put down to 10 or II.
investors ruined. while promoters made
millions.
Watched stoelk Rise.
During the past year We have watch
ed the stock make another sudden and
spectacular advance from "a to sz,5. We
have been informed by the highest au-
thorities that this advance was engi-
neered by Q group Of directors Of the
have had in mind three things: First. to
make large sums Of money for them
selves by the fluctuations Of the stock.
which they knew all about. and were
able to control.
Second. to form q syndicate to ab-
sorb all the public service corporations
in the District Of Columbia. enormously
water the stock and make other millions.
Third, to defeat the public utilities
commission bill. which the Commission
ers have been urging in Congress. Most
Of these things have been or are being
carried out None Of the promoters
has violated any law. so far ~ We
know. What they bought and sold. and
organized and opposed was done strict
ly within the letter, and under the pro-
lection of the law.
They succeeded in defeating . public
utilities commission. which would have
seriously hampered their operations.
They have undoubtedly made fortunes to
pile upon the fortunes Of other years.
They have organized their great merger.
But here they are stuck. They begin
to act like men balancing upon a tight
rope. They are beginning to reckon with
. force called public sentiment. They
are beginning to feel . loss which even
stock gamblers recognize. and that is
public confidence.
The people Of the community are
waking up. They are scanning critically
and with more Intelligence than former
>ly the action Of q director who took
advantage Of his position and special
knowledge to deceive other stockholders.
whom he was supposed to represent.
They are asking II there ID not some
thing peculiarly dishonorable in . direc-
tor buying out other Stockholders, some
of them with very small holdings. which
represent all their savings. and paying
them thirty-four. when he knows. as q
director-and in no other way-that. the
stock will sell for nearly three times
that amount within Q year.
They are asking II stock >Vamblers are
fit to be directors at all. They are ask
ing in the second place what effect such
gambling in the stock Of a public serv-
Ice corporation mas on tnems Wnetner
forcing up. forcing down. watering.
wrecking. means anything to them be-
yond a mere exhibition Of financial skin.
Paklic Has Rights.
I'VE find now almost general accept
ance OF the proposition that in the man
agement Of every great public service cor
poration the public has rights.
If this were simply an economic prob
lem, / should have nothing to say upon
1t to-day. But 1t IL more than that. It
lem. 1t involves not only the money, but
the health. the safety. the happiness Of
the people.
IF 1t Is right for a church to advocate
public health movements, 1t Is right for
II to show why we as a community can
only afford crowded, e-disseminat-
ing cars on some lines. II it IL right for
1t to labor for parks, 1t is right to labor
for means to take the masses to the
parks at rates they can afford. The DIFF
ference between the outlay Of so cents
and Is cents to take a family of six to
the Zoo on a Sunday afternoon is the Diff
ference between going and not going.
IF II Is right for a church to urge the |
old precept. DO justly IL It In right for
1t to thunder again the command. Thou
shalt not steal;' II 1t IL still proper to |
refer to human brotherhood and mean II, |
the church has a right to expose gam
bling in the stocks OF public service cor
porations. and a solemn duty to pillory |
the 1arnhlers NJ the har NJ v,f,hILr f,,s.