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.


Railroad and investment conditions cali
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
PITFALLS AND OTHER ELEEmoSTNART
INSTITUTIONS.
Flrst-Gentlemen Responsible for Safe
guarding Railroad Properties:
You declare that you are being so ham,
pered by the Interstate Commerce Com
mission, by the Federal Government by
state legislatures, by state railroad and
public service commissions, by taxing au-
thorlties in general, and by labor oombi-
nations that you are poweress properly
20 protect the vast properties intrusted to
vour CHARGE, and that conditions are
drifting toward disaster.
You declare that various authorities are
imposing burdens and eSaetlons which
you can not continue 20 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
dency 10 pass such costly and, in your
Judgment unnecessary and rulnous isgls-
iation as fun crew bills, and bills enfore-
ing the nasty removal Of all grade cross
ings.
You declare that your taxes are being
Increased most GENEROUSLY and that you
q are compelled TO advance wages unrea-
sonably.
You declare that II Is becoming ex-
fremely difficult 10 Induce investors to
provide the billion dollars Cor more) nee
essary 10 supply adequate transportation
facilities, and that you are obliged to pay
unprecedented rates for all your capital
requirements.
You declare that lsttery there has been
. dlsquletlng tendency to order one rail-
road 90 open its terminal facilities, con-
cetVed 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
Ing large numbers Of railroads, and that
you will be at the mercy Of labor combi-
nations until proper arbitration law is
passed.
You declare that when II refused 10
grant your application for permission TO
Increase freight rates the Interstate Com
nnerce Commission based It's decision on
statistics and other information which
were subsequently proved 20 be grossly
Inaccurate, misleading and preludicial TO
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 appreciated,
he -
aiVen a fuller measure Of fair play 20 the
end that you may be allowed 20 maintain
your properties IN sound physical condt-
zion, provide the extensions called for by
the growth Of this young country, build
up fair surplus TO meet emergencies-
such as those now arising from flood, fire
tornado and other acts OF God throughout
= large part Of the Union-enabie you TO
meet all interest charges on your bonded
indebtedness, pay reasonable dividends to
your stockholders and last, but not least,
pay living wages 70 your employees.
Your problem, you declare, Is: How to
arouse the public TO rightful apprecia-
ton Of the present railroad situation and
the grave dangers that are threatened.
u 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
inc out harsssments that ought TO be re-
Of relief from threatened disaster. let
the president and every director person
ally sign the statement and mail II TO
every stakeholder, bondholder and note
holder on their books, and, " need be,
have II printed m 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.
u proper statements are thus dissent
I'D na4f 81 sa.k.T
public 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 Beneteiaries Of Savings
Banks. Insurance Companies. Trust
Companies, Universities, Hospitals
and other Eieemosynary 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. 20 your discomfort and
dismsy. the value Of your security hold.
inps sink lower and lower
You must be prepared what railroad
managers allege be true-tO witness fur
ther very serious shrinkaqe ln your in
Nestments-and, Ultimately, In your in
come.
sponsibiiities If your income be Crsvely
impaired.
You are not less interested than the
railroad MANAGERS themselves fn Gotta In
no fair play for the railroads.
II you believe that the demands Of the
railroads are JUST you can honorabIy
subscribe 10 statements prepared and
signed by then7-yNOuid II not be your
DUTY 60 the millions - EFtikens depcndeni
upon you 20 cooperate with the "a iirosds
BY obtaining supplies OF these statements
and mailing them 10 your depCsitors. your
beneticiaries, your clients or others whose
Interests are under your guard isnshiD2
~ there are such rocks ahead as the
railroads say there are can you DO less
than aid In steering clear Of them
oil hHnDE NHTEC EEFCT