The Mitchell capital. (Mitchell, Dakota [S.D.]) 1879-1918, 1913-07-24

'ey. All the committee could do was
to confess its powerlessness to pur-
sue the subject further, and was OBJ
liged to content itself with a state
ment expressing it's belief that in
terest on state funds was retained by
state ~treasurers prior to the enact
ment of the present law compelling
them to account to the state for all
such funds. or course this is no more
than the expression of what is COM
mon knowledge.
Certainly 1t was II colossal blunder
by the legislature to fail to give this
committee power to inquire into the
biggest known subject for inyestiga-
tion into state affairs. The interest
received by the state ~treasurers no
doubt amounted to many tens of
thousands of dollars and the legisla-
ture knew this but still failed to
give the committee authority to find
out about 1t. AS IL is, the committee
chase, and with blank cartridges!
Now it must be borne in mind
that under a law carried over from
territorial days, the state can obtain
a judgment for every dollar of inter
est on state funds retained by state
tr%easurers. The n chief reason why
this has never been done is that no
one has ever obtained direct evid-
ence showing the payment of this
interest money to state ~treasurers, or
the amount paid. This is a ask for
precisely ouch a committee as the n
authorized by the last legislature.
Gov. Byrne possibly may find a
way to come to the relief of the COM
ffitee.q It's report expressing belief
that such interest funds we're re-
|tained by the state t%reasurers may be
considered enough by him to warrant
the initiation of some kind if action
against the former state treasurers
for the purpose of forcing restitu-
ion.
BY all means, the light should be
turned on. The investigating commit
tee is ready and willing to do this,
but is allowed no oil for it's lamps.
%@As<g
L HIGH FINANCE IN DISGRACE.
Far more than ordinary signific-
Iance is to he found in the retirement
lof Charles S. Mullen as the head of
the New Haven railroad system. 1T
I 7HE"
means, In word, an untoward end.
ling for a ''%pretentious scheme to
create q monopoly of all forms of
transportation, steam, ,lectric and
water, in the New England states.
The New Haven railroad had been
cchservatively operated under the
presidency OF John NJ. Hall, when in
1903, J.fP. Morgan requested Mellen,
then head of the Northern Pacific. to
assume charge. Shortly after he be-
gan developing alvast scheme of con-
solidation forswhich evidently he was
given his appointment by Morgan.
las the years have passed, popular
hostility toward che New Haven has
tbeen increasing. Inferior service was
repeatedly alleged by the patrons and
all4of New England was alarmed by
the prospect OF a complete control
by n firm of all formsiof transpor-
tation. Added to this was the dissatis-
faction of stockholders, who saw
New Haven stock decline from zoo
to, less than par.
The troubles OF. Mellon, were
brought to n climax by a report made
public BY the interstate commerce
commission, two weeks ago. in
which 1t WAS declared that the "out-
side financial management. of the
New Haven was "wastefnl in the ex-
treme," and that the trouble with
the system was an affliction of mon
opoly madness"
To drive its contentious home, the
commission computed that, with
proper management, the New Haven
would have paid dividend, of s per.
cent in 1912 and had a surplus of
S1,794,00O, instead of a deficiency of