Daily capital journal. (Salem, Oregon) 1903-1919, 1913-04-14
GOOD WILL A VALUABLE ASSET

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chase the Salem Water Company's
plant is moribund, the next thing
to be done is to get some relief from
the present exorbitant water rates. Just
what steps to take to accomplish this is
up to water consumers, those who pay
the bills to decide. We suggest, how.
ever, that the simplest way to accom-
plish this is for the company itself to
make a substantial reduction voluntar.
lily.
There was a time when corporations
considered that their business was no
one else's business, when such men as
Vanderbilt, for instance, remarked,
when told the public would like to
know something concerning his rail
roads, "The public be d-d.7
1t was the old plan to keep the cur.
tains of secrecy tightly drawn about
corporate business, but that time is
past. The successful big corporations
of today have learned that the good
will of the public is one Of the most
valuable assets a public service cOrpo.
ration can have.
To obtain this these companies have
found that to gain confidence, they
must show confidence, that to make the
public have faith in them, they must
show their faith in the public, and to
do this, they must give the affairs Of
the corporation publicity. This change
in policy has been brought about by the
fact that some corporations have be-
come so big that no man or set Of men
can longer finance them, and that the
public alone can do so. Hence the big
railroads and other big corporations
make detailed statements of their busj.
ness showing valuations, earnings divi.
dends and all other matters, necessary
for the information of the public, that
invests its money in their bonds.
A public service corporation of to-
day which is at war with the communi
ty or communities with which il does
business, is travelling over very thir
ico, 1t is about as safe financially a.
a powder house in a burning town with
the water shut off.
Massachusetts set the example Of cor
poratc control by providing a publ,
service commission, with far.reachinI
power over public utility corporations
Oregon along with many other states
has followed her example, by providin
n railroad commission, whose power
were extended by the last Legislature /
cover practically all public service con
missions. This gives the people Of Ore
gon chance to compel such corporI
tions to come through with informatio
concerning their physical valuation
income, profits, ETC., and to regulate an
make them reasonable.
This is why The Capital Journal SUI
gests that the Salem Water compan
takes It's patrons into its confidenc
shows them It's plant valuation, cost {
running, receipts and profits, and at Il
same time voluntarily fixes it's rates
they are fair to itself aud to Its p
irons. II the good will Of the public
worth having, II is worth earning III
Snlcm Water company has to depend {
Salem for its patronage, just as muC
as the Salem people just now have
depend on the company for their waite
II the company is wise, IL il does n
want to stand in It's own light, II vi
do this voluntarily, rather than do
grudgiDgly when II is compelled to
80.
Salem people want to treat the col
pany fairly and they are not going
ask the company to furnish them wat
free, or at rates that will not allow Il
company fair return on its inycs
mcut At the same time they do n
intend to longer pay more than u
service, all things considered, is wort
They want to deal fairly with the col
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