New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-05-31
N. ii. FinanCier Says Gov
eminent Ownership Is
Inevitable.
FAVORS ROOSEVELT
MONOPOLY THEORY
Calls Wilson philosophical Anar'
chist"-InSists That COncen-
tratiOn Must Come.
LBy telegraph 10 The Tribune. !

Boston MAY 30--Charles S. Mellen for
merly president of the New York. New
Haven & Hartford Railroad. who recently
told the Interstate Commerce Commission
the inside of New Haven high finance.
. gave an interview to-day in which he said
public ownership OF railroads was inevi-
table. termed President Wilson and Louis
u. Brandes philosophical anarchists"
dccried the accumulation of great fort
unes and gave his remedies for--corpora
ton abuses.
Men who are honestly managing a
railroad corporation for its stockholders
would just as soon manage II for the gov
eminent" he said. They are working
for fhe salary and the public service in
either case. and. when once the public
feels confident that their work is honest
and patriotic. their positions will be hon
orable, and this honor will compensate
them more than even their salaries.
THE cry against public ownership will
vanish in the air when once the oppor
tunity for making profit out of the CON
cession.' so to speak. Of the business is
gone.
"In company with a great many other
men In big business. / have long believed
that public ownership was inevitable. |
did not think, however, il was coming
so fast as it seems to be approaching
now. You would be surprised to know
how many men in the conservative walks
of life secretly believe that public own
ership must come. The number of those
men is legion who are saying TO them
selves. This will last as long as we do.
After us, the deluge.'
THE conservative members of society,
above all. ought to be most vigilant in
this situation. l do not believe that this
democratic Republic is doomed TO be
failure. but il cannot long stand if men
are going 10 continue the accumulation u
gigantic private fortunes. with all the
power that goes with them and with all
the class distinctions and privileges and
arrogance and servility which follow.
Public ownership and a proper system Of
taxation will bring the ship Of state back
to an even keel again"
AS remedies for corporation abuse Mr..
Melen advocates that executive officers
salaries should not be eXorbitant. Voting
by proxy should cease. he thinks, and
stockholders should be compelled TO vote
personally or not at all. He would oblige
railroads to market their own securities.
Meetings Of directors should be open TO
the public and bids for all purchases
should be advertised Minority stock
holders ought to have the right, when
they dissent from the directors, TO call on
the courts to compel the corporation 10
pay the expense of an appeal.
Mr.. Mellen said that men like Wilson
and Brandeis appeared to regard big busi-
ness as unnatural, and seemed to think
that given a square deal, nature would
abhor monopoly. Men like Roosevelt. on
the other hand. regarded monopoly as a
natural tendency which must be accepted
as the inevitable. and regulated for the
greatest good Of the greatest number.
Il am of the same view as Mr.. Roose-
welt" he added. at is also. / believe, the
view of the Socialists. The Wilson and
Brandeis view is that OF the philosophical
anarchist"