Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1915-03-30

dealers. livestock dealers. and other
producers, and consumers. scattered
,hruout the territory.
Never before has there been such
an extensive organization on behalf
of the public In any case.
I'm the gathering Of this material,
every courtesy possible has been ex-
tended to us by all the railway COM
panies, with only one exception.
I'VE will demonstrate to you some
mistakes in the figures offered by the
railroads. We do not call them mis-
representations, for all Of us are liable
to err at times. Some Of these errors
are small and Of little importance:
while others are basic and funda-
mental. Y
ItHis not necessary for us to parade
glaring, sensational incidents of high
finance or questionable acts. 1t IL q
cold blooded business proposition. The
famous Gould printing press scandal.
where they made Erie stock over night.
IN incident that will probably be ia
nous for all time, only involving
some $23,000.OOO.
d
"The present movement tor increased
freight and passenger rates involves
several times that sum of money, not
just at one time. but every year, now
and in the future, for this and future
generations to pay.
Western Roads Prosperous.
'"The impression has been given that
railroads hav not been able to main
toi I,osv 0ntt ,psv ~t
years. that they have been compelled
to retrench so severely that the public
has been injured, as we'll as the rail-
road properties. This is true as to
some railroads, but we will show you
it is absolutely untrue to western rail-
roads as a whole. AS in all business,
there are temporary periods of de-
preston when the railroads as whole,
including both the strong and the
weak lines. are compelled to retrench
in their expenses for time. It will
be conclusively proved to you that
these western carriers expended in 1914
in maintaining their properties $2,800
per mile Of line, which was greater
than in any other year in their his
tory.
TT will be proved that the railroads
in western territory as a whole have
actually expended in maintaining their
properties during the last five years
an average of $5O,000,000 a year more
than for any preceding fve-year period
since the first railroad was built in this
territory. Every railroad witness who
took the stand admitted on cross ex-
animation that they were maintains
ing their properties at a higher stand
ard during recent years than ever be-
fore.
1T will be shown to You that the de-
cline in the percentage of operating in
come on property investments upon
which the carriers are relying so
strongly. results from a change in the
system of accounting, and not from
any operating condition.
During the year 1914. as all people
know, there was q worldwide busi-
ness depression. In the United States,
the, grain crops Of the preceding fall
fell over SOC. .0o0, 600 bushels. S sa
I'm the exhibits that will be offered.
it will be shown that in 1913 the net
revenues of the railroads in western
territory asfa whole, above all operat-
ing expenses. amounted to $4,000, 900.
being the largest with only one ex-
ception-1910-since the first track was
laid west of the Missippi.
when prosperity is at its very high
est, the railroads can show the lowest
net earnings by simply building a
larger amount Of improvements there
by automatically reducing their net in
come.
I'VE are perfectly willing to pay the
people these gentlemen represent an
adequate return for their investment
such adequate return to include a
reasonable surplus for tiding them over
lean years. but are absolutely unwilling
to build their properties for them and
pay return on what we build"