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 8 c. FORBES.

lSi ~
BY 3. c. FORBES.
Railroad and investment conditions call
for this OPEN LETTER 70
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
pITALs AND OTHER EILEEN oSYNARY
INSTITUTIONS.
First-Gentienoen Responsible for Ssfe-
ousrdina Railroad Properties:
You declare that you are being so ham
pered bv the Interstate Commerce Com
mission. by the Federal Government, by
state legislatures. by state railroad and
s,ubIIc service commissions, by taxing au-
S,orities i'm general. and by labor con'bi-
nations that you are powerless properly
20 protect the vast properties intrusted 10
your charde, and that conditions are
drifting toward disaster
You declare that various authorities are
ampo3ing burdens and eNactions which
you can not continue 70 meet, and at the
same time safeguard the billions Of dol
lars committed to you for investment by
Individuals and Institutions.
You declare that you are becoming
aravely alarmed over the growing ten
dency to pass such costly and, in your
Judgment, unnecessary and ruinous iegis-
Iation as fun crew bills, and bills enforc-
yng the hasty removal Of all grade cross
snss.
You declare that your taxes are being
Increased most GENEROUSLY and that you
are compelled 10 advance wages unrea-
sonaby.
You declare that 1t is becoming eS-
4remeIp difficult 20 induce investors 20
provide the billion dollars (or more) nee
sssary 20 supply adequate transportation
facilities. and that you are obliged to pay
unprecedented rates for al your capital
requirements.
You declare that lsttery there has been
q disquet,nq tendency 20 order one rail-
road TO open its terminal facilities, con-
usived with foresight and constructed at
preat cost. 20 other railroads having no
claim whatever upon these facilities,
You declare that the present Erdman
set IS an entirely unsuitable instrument
for the settlement Of labor disputes affect
Ina large numbers Of railroads, and that
you will be az the mercy Of labor combi-
nations until a proper arbitration law is
passed.
You declare that when Il refused 70
grant your application for permission to
Increase frei cht rates the Interstate Com
merce Commission based its decision on
statistics and other Information which
were subsequently proved 70 be grossly
Inaccurate, misleading and preiudicial 70
your case.
Finally, you declare that the public has
manifested Ignorance Of the true position
Of the railroads, and that were the whole
facts known ana rightly apprec ated,
there would be 2 demand that you be
given fuller measure OF fair play 10 the
end that you may be allowed 70 mstntalr
your properties IN sound physical cond-
tion, provide the extensions called for by
the growth OF this young country, build
up a fair surplus to meet emergenCies-
such those now arising from flood, fire,
tornado and other acts OF God throughout
= large part OF the Duion-enable you 20
meet all interest charges on your bonded
Indebtedness, pay reasonable dividends 20
your stockholders and. last but not least,
Your problem, you declare is: How 20
arouse the public TO riShttui apprecis-
zion Of the present railroad situation and
the grave dangers that are threatened.
II is for the purpose OF Offering you
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 harassmeuts that ought TO be
moved and suggesting a feasible method
Of relief from threatened disaster Let
the president and every director person
ally sign the statement and mail Il to
every stakeholder. bondhoder and note
holder on their books, and, II need be,
have II 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.
If proper statements are thus dissent.
public opinion would be created that
neither Federal nor State authorities
could defy.
anything but fair play.
And that is what you gentlemen declare
you want.
Second. Gentlemen Responsible for
Safeguarding BenefCIsries OF SAVINGS
Banks. Insurance Companies. Trust
Companies, Universities, Hospitals
and other Eleemosyrary 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. TO your discomfort and
dismay, the value OF your security hold
Hngs sink lower and lower.
You must be prepzred-if what railroad
managers aiiege be true-to witness fur
Rher very serious shrinkaqe IN your In
~estments-snd, ultimately In your In
come.
Ycu can not adequately meet your re-
sPonsibilities n your income be crsvely
impaired.
You are not less Interested than the
abroad managers themselves IN obtain
.~u fair play for the railroads.
you believe that the demands Of the
lads are lust-n you can honcrabIy
describe 10 statements prepared and
sluueo by theu1-vyould Il not be your
duty 20 the millions Of citizens dependents
upon you 90 CO. operate with the railroads
BY obtaining supplies o. these statements
and mailing them 70 your depositors. your
beneficlaries. your clients or others whose
Interests are under your guard ianshlp9
~ there are sucn rocks ahead as the
railroads say there are can you 90 less
Khan aid in steering clear 81 them