The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-01-14

"W hen the properties are rightly valued.
as the Government proposes. II IL probable
that some Implications may have TO
be deducted. When this Governments
valuation. due to Old estates and in
vestors, among whom ar. women and
minor children dependent for hVings and
education. Is Justly made IL Will 20 far
toward clearing up unnecessary apprehen-
slons and max" a better market for securi-
ties
The Eastern railways for tho last two
years have been urging ! per cent in
crease Of freight rates. which would add
to the high cost Of living. Say this ia
All .nilnitcs!nal sum. but II Is heap
OF iniin!tesimals that has brought us to
the present high prices
"a study OF the figures which the rail-
road companies put before the Interstate
Commerce Commission brings out some
interesting points. viz. that In u period
OF eleven years these railroads paid
sllse, 100000 ia dividends. Over and
above this the railroad companies had
left s6S9,0Q0,G0o, which was either ex-
pended upon the properties or held as
working capital
Last year these railroads in the east
ern territory earned an average OF more
than s per cent. on their S2.559, Is2. 900
OF capital stock and paid out OH 1t ) lilo
per cent. in dividends.
Last year their freight charges we're
wound add to this amount nifty millions
more which III" people would all find
added TO the cost Of articles they buy.
II beg you to believe me- my esteemed
and houored brothers Of labor and toll
that not word I have spoken must b,
construed or considered as even in the
slightest degree an opposition to the
management OF any railroad company.
Out of Date Methods Used
- believe IA revolution In economy would
| lie brought about by overhauling and ia.
constructing the bookkeeping, accounting
and purchasing departments. including
the veriiicatlon of qualities. quantities and
lost discounts in all the Executive depart
ments OF the United States Goyernmen,
and tho transportation companies by sea
and land. Our companies could Learn
much from the Hamburg, North German
Lloyd and cunard companies.
The time for more system for all o.
us has arrived The railroads have il
many ways developed wonderful eff
| ciencies. The great through trains. upoi
fast and precise schedules for long runs
compel a thrill OF pride In their op
orators.
| 1T goes without saying that the cit
| zens OF your present directories nr,
held IN highest esteem. II is quite true
however. that a new day has dawned e
| corporate affairs. All over the land there
| In ringing the keynote that efficiency ant
intelligent service must be given to stock
holders by men educated to the bushes
In hand
| "lf a railroad or n university was
mere social institution II would be quit,
another thing, but the prosperity Of tn,
whole city turns upon It's great enterprises
and institutions. Banks. trust companies
and corporations believed 10 be now con
trolled by the same half dozen men, pro
fessionals or merely moneyed men as re
ported In New York and Philadelphia, pro
vokes serious criticism
| Look underneath things and lots o.
lost motion will he easily discovered II tn.
hundred year old Rip Van Wrinkle spec
| tacles are laid aside
who is there at all conversant will
, the inside work % many corporations tina
! could not put two men At work wher,