New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-10-06
RIPLEY DEPLORES
R. R. REGULATION
AtChiSOn President Finds
Menace in Attitude of
Organized Labor.

Edward =. Ripley, president Of ;he
AtchlsOn, Topeka & Santa Fe Railway,
in that cOmpany'S report for the year
ended June 80. 1914. characterizes the
regulations imposed upon the railroads
by state and national governments as
unnecessary and Superhuous. Mr.. Rip
ley also calls attention 10 the threat
ening attitude Of the labor organiza-
tons, which he regards as menace.
lie adds:
Your directors feel that heavy re-
SpOnsibiHties devolvc on them in the
present state of governmental activi-
ties directed at the railroad indus
tries. II has been found almost I'M
possible 10 make even an approximate
estimate Of the cost of regulation
which has been imposed on US by .he
state and national governments. With
out crltciSing the policy of proper SUI
peryision. 1t is fair to say that many
of the laws are not only expensive, out
ia the opinion of your officers unnec-
cSsaIE and superfiuous. Constant
whiting Of rates, plus constant legis-
lauon which adds to your expenses
without adding to revenue, have had
their inevitable effect.
There are some evidences of dis
position on the part Of those in author
lty TO realize that great injustice mas
been done in the guise of regulation
and that II Is time to call a halt, but
the relief which the railroads need
cannot come until this disposition shall
be Transmitted from mere expressions
Of frleudlineSS into positive remedial
measures. Hence your directors deem
10 their duty again to warn stock
holders that their interests are more
endangered by the various govern
mental regulations than from any
other source.
But IN making the foregoing state
ment the threatening attitude of the
labor organizations must not be lost
SIGHT Of as vigorous second in the
menace of the times. Your company
has always shown the utmost consider
alton for its employees. and as a class
they are credit to themselves and to
the road.
Left 10 themselves there would be
little of which to complain, but the or
agniZationa as a body have been ag
excessively demanding increased wages
tor their members with no regard for
the ability of their employers to pay.
and have been steadily demanding, and
frequently with success, many varieties
Of legislation, such as full crew bills.
designed to increase operating eX-
Icuscs.
Between the repressve forces of
government and the demands of organ
lied labor il is evident that the sum
remaining as the share of invested
capital is IN serious danger. Under
these conditions it is the intention of
your directors to make no additions or
betterments, however desirable, which
cannot be paid for out Of current earn
iugs, and to continue the policy of in
curing no floating debt"
The Atchison's gross earnings for
1914 were S116.896,251, an increase Of
S5,7s6,4o3; net operating earnings were
S34.591 ,56l. gain of S2,476.714, and the
surplus available for dividends was
22,153,734, an increase of Sl.969.770.
There was paid out in preferred divi-
bends $5,708, $50, leaving a balance Of
S16.44j,O44, which is equal to 8 2-5 per
cent on the $195, S27 900 common stock
outstanding, compared with 81-5 per
cent earned on the same stock the pre-
vious year