Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-03-29
OPEN LETTER To
RAILROAD HEADS
Expert Shows How Public May
Be Enlisted on Their Side
for Fair Play.
BY g. c. FORBES.

BY g. c. FORBES.
Railroad and Investment conditions call
tor this OPEN LETTER TO
THE PRESIDENT AND DIRECTORS
OF EVERY RAILROAD IN THE
UNITED STATES, AND
THE TRUSTEES, DIRECTORS AND
OFFICERS OF ALL SAVINGS BANKS,
INSURANCE COMPANIES, TRUST
COMPANIES, UNIVERSITIES, HOS
PITFALLS AND OTHER ELEEMosYNARY
INSTITUTIONS.
First-GentIemen Responsible for Safe
guarding Railroad Properties:
You declare that you are being so ham
1ered BY the Interstate Commerce Com
mission, by the Federal Government, by
state legislatures, by state railroad and
public service comm Ions, by taxing su-
thorites in general, and by labor combl-
nations that you are powerless properly
20 protect the vast properties intrusted to
your charge, and that conditions are
drifting toward disaster.
You declare that various authorities are
Imposing burdens and exactlons which
you can not continue TO meet, and at the
same time safeguard the billions Of dol
lars committed 20 you for investment by
individuals and Institutions.
You declare that you are becoming
graVely alarmed over the growing ten
dsncy TO pass such eostIy and, In your
Judgment, unnecessary and rulnous legis-
lstion as full crew bills, and bills enforc-
ING the hasty removal OF all grade cross
Ings
You declare that your taxes are being
Increased most GENEROUSLY and that you
are compelled 10 advance wages unreal
souably.
You declare that II Is becoming ex-
tremey difficult TO Induce investors to
provide the billion dollars (or more) nee
essary 10 supply adequate transportation
facilities, and that you are obliged 20 pay
Unprecedented rates for all your capital
requirements.
You declare that lstterly there has been
a dlsqueting tendency to order one rail
road 20 open its terminal facilities, con-
ceNed with foresight and constructed at
great cost TO other railroads having no
claim whatever upon these facilities.
You declare that the present Erdman
act Is an entirely unsuitable instrument
for the settlement Of labor disputes affect
ina LARGE numbers Of railroads, and that
you will be at the mercy Of labor oombi-
nations until proper arbitration law is
passed.
You declare that when il refused 70
grant your application for permission 20
increase freight rates the Interstate Com
nerce Commission based It's decision on
statistics and other Information which
were subsequently proved 20 be grossly
inaccurate, misleading and preludloia 70
your case.
Finally, you declare that the public has
manifested ignorance Of the true position
% the railroads, and that were the whole
facts known and rightly apprec ated,
there would be a demand that you be
given fuller measure Of fair play 20 the
end that you may be allowed 20 maintain
your properties In sound physical condi-
ton, provide the extensions called for by
the Growth Of this young country, build
up fair surplus 20 meet emergencies
such as those now arising from flood, fire,
tornado and other acts OF God throughout
. large part OF the Union-enabIe you 20
meet al interest charges on your bonded
indebtedness, pay reasonable dividends TO
your stockholders and, last, but not least,
pay living wages 20 your employees.
Your problem. you declare, is: How 20
arouse the public 10 a rIchtful apprecla-
ton Of the present railroad situation and
the Grave dangers that are threatened.
IL Is for the purpose Of Offering you a
suggestion that this open Letter is
written.
let the directors Of each railroad in the
country draw up a frank, truthful, lucid
explanation Of their roads position, point
ing out harassments that ought to be re-
moved and suggesting feasible method
Of relief from threatened disaster. Let
the president and every director person
ally sign the statement and mail Il TO
every stakeholder, bondholder and note
holder on their books, and, II need be.
have & printed In fun In the local news.
papers
There are perhaps four million security
holders IN this country, presumably per
sons Of intelligence, Of some standing and
Of average influence.
n proper statements are thus dissent
mated, a volume OF reasonable. righteous
pubic opinion would be created that
neither Federal nor State authorities
could defy.
American citizens will not stand for
anything but fair play.
AND that IS what you gentlemen declare
you want.
Second. Gentlemen Responsible for
Safeguarding Beuetciaries Of SAVINGS
Banks. Insurance Companies. Trust
Companies, Universities, Hospitals
and other Eleemosynary Institutions:
You are dependent for the whole or part
Of your income upon your Investments
billions OF which are In railroad stocks
and bonds.
You have seen. 10 your discomfort and
oismay, the value Of your security hold
jngs sink lower and lower
You must be prepared what railroad
managers ailege be true-to witness fur
tner very serious shrinkaue in your I'M
come.
You can not adequately meet your re-
sponsLb,itties II your income be CrsveIy
You are not less interested than the
railroad managers themselves ban outsIn-
ing fair play for the railroads
" you believe that the demands o. tine
railroads %re Iust-If you can h0uor51y
subscribe 20 statements prepared and
signed by tneU-wcuIC q not be Nour
duty 20 the millions cf citizens dependent
upon you 20 cooperate with the railroads
1y obtaining supplies Of these statements
and mailing Them 90 YOUR dsrre.trrs ,-..r