Norwich bulletin., 1913-11-12

pect me to keep the operating force at the top notch of efficiency? Or to make any necessary changes in the personnel of the operating officials?
 Tt has been said that we paid too high a price for the Rhode Island troll leys, In the light of present conditions perhaps we did. But that Is another case where hindsight is better than foresight The Rhode Island trolley lines under New Haven ownership are rapidly increasing earnings and will soon be paying good return on their cost.
 Tn regard to the steamship end of the system, they are such an integral part of the service that it is impossi- ble to say how profitable they would be if operated separately. It is just a question of bookkeeping whether cer- tain expenses are charged to the rail- road or steamship branch. If my ad- vice had been followed we would have sold those steamship lines five years before the government ordered us to sell out. When Morse offered the New Haven $20,000,000 for the steamship lines, I advocated their sale. But the directors voted to hold them. Even at that time I pointed out that some day the government would compel us to sell them. MT Morse's offer of $20, 100000 was for the stock of the New England Navigation company, 50,0O0 shares, which cost us less than $6,000000. More than 50 per cent. of the business car ried by the steamship is given directly by the railroads.
 But aside from the mere question of policy I never cared to have the steamship lines on our hands. l was always terribly afraid that some day fearful accident would take place on one of the sound liners. It is true that for many years our boats have been operated without accident. But accf- dents have occurred on other lines, and I was afraid that the day might come when we should meet this trou- ble I was really afraid that if some big accident occurred to one of our boats that it would cost me my life, as people would be wrought up against me as the responsible head of the property.
 Government to Own Roads.
 "The railroads will all go under gov quickly. Five years ago I felt that would not live to see it. But now l think that I shall. The regulation by the government during the last 10 years has tended to lower the value of railroad stocks as investments. There is not the big money in railroads that there used to be. There will not be any great opposition to government ownership when the time arrives, be- cause private capital will find the field unprOhtable as result or the LOO strict regulation.
 That is my story. What do you think of it? That is my reward for 10 years of honest, faithful service. That is my reward for fighting my employ ers' enemies and for shielding the con- trolling interests of the system by standing the brunt of the attack for them. I fought back hard. I could say sharp things to the schemers who were fighting us because I knew was standing on firm ground. I have made mistakes in my A years of railroading, for I am human, very human. But l have always served my employers to the best of my ability and in so doing have been accused of crookedness, That is why I could talk back sharply. If had lived in glass house l should have thrown no stones. l should not have dared to take chances.
 T am teaching my boys. to be loyal, honest and faithful, and am impress ing upOn them the baSeness of the sin of ingratitude. If I ever find that any of my boys have been guilty of this sin; if I ever find that they show in- gratitude to anyone who shielded them or theirs, I will take that son of mine out into the pasture, smite him with the handiest fence rail, and leave him as fit food for the crows.