Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1915-08-18
rmEsREpuB11cAN, MARsflA11rowN IOWA: AUGUST 49, 1915

w. Jarnigan. who attempted to pick
flaws with Thorne's figures. is worth
| reading. Jarnigan thought he had
something and addressed an open let
ter to Mr.. Thorne showing him up"
Thorne came back by pointing out that
Mr.. Jarnigan had read the statement
carelessly or had juggled the stated
facts. He explains that an average
, be from IS to $40. Farmers co-opera-
tive grain elevators, he explains, on
the authority of the president of the
grain exchanges of the United States.
will save from $1,000 to $4,000 annually
and there are 800 of these elevators in
Iowa. To quote Mr.. Thorne:
The saving of one or two million
dollars annually to the farmers OF
Iowa would be wrong, If the railroads
deserved the money more than the
farmer. Mr.. Jarrigan parades the
fact that railroad expenses have in
creased. That is true. However, earn
ngs have also increased. But wheth-
er they have gone UP or down, l Won
der just how much MIR. Jarnigan would
like to have these railroads earn.
The net income Of all the railroads
serving the state of Iowa. having gross
revenues of 100000. or more, handle
IS per cent of all the Iowa traffic. Last
year these railroads had net revenues
above all operating expenses, all
taxes all interest on bonds and debt,
all charges of all kinds Whatsoever
amounting to a.06 per cent on all their
common stock outstanding in the hands
of the public. The year before they
earned 1892 per cent on all their COM
mon stock, water and all. This in
cludes the rich and poor These rail-
roads handling IS per cent of our traf-
fic, are as follows: c. B. & c., c. &
\. w, a. T & s. F.. c. @, W., c. r. |.
& P, Illinois Central, G. ", NJ. & st.
L.. C. N. & ST. P. Wabash. and Union
Pacific. But You may object that the
Santa Fee. Great Northern. and Union
Pacific only touch the state. and should
not be concluded. All right. omit them;
and then we find those remaining
earned on their common stock last
year Sis per cent, and the year before
lois per cent
AS mentioned there is certain con-
nection between the Rock Island story
and the Thorne statement and the con-
clusion reached in the interstate COM
MERGE commissions report that its in
vestigation has demonstrated the need
of legal limitation of railroad securi-
ties issues and TO fix responsibility for
the dissipation of corporation funds
The public utilities should return
reasona BILE profit. AS Mr. Thorne says
il would be wrong to withhold their
just dues in order to thus save the
shippers; but it is not unjust TO make
full inquiry into the business OF
public service corporation and to fix
by law and court action rates just to
the servant and the served. Perhaps
had some railway commissioner with
Thorne's ability and purpose made in
quiry into the affairs OF the Rock
Island ten years ago stockholders
whose holdings have dwindled from
5000 to $50 might be better off today
and some officials might be shorter OF
bank account
The day of the public be damned is
over. The sooner the corporations and
their friends accept the new under
standing of a square deal which means
what it says. square deal for the
railroads and square deal for the
public the better ii will be for public
corporations and the public
service