The Bridgeport evening farmer., 1915-02-04
GOVERNOR HOICOMB KNOWS THE EVIL OF THE RAILROAD BONDING BILL;
 IF TT PASSES, VETO WILL STOP IT

 railroad finance which already dotted with scandal and marked with disaster and dshonor
 dent Elliott the New Haven Co., which would authorize every railroad trolley company double the capital without adequate public scarcely necessary to say readers Farmer followed of methods, attendant the operation of such for several should become law do to it's debt what already The stock has been STRIPPED of it's DIVIDENDS
 little while under such law thedebt could be STRIP advantage in having Holcomb al head state at this Junere that he has the problem, has definitely declared principles which this dangerous railroad bill would establish
 Be does NOT believe that the railroads trolley oaConneccut should authority the amount of twice their capital authority hearing and hz a1a ths Rie utilities eonission General appointed to commission to consider the leeialaon evils He was of inc which reported 19oe Among the defects which the governor then Judge R the adequate knovedge of the financial condition of railroads bill recommended by provided, respect to bonds as follows
 s sss sssf @ sssss s sa rule but quite different thing from go- Ing debt double the value of the paid nobody would sanction rule by which might be mortgaged twice it's value very positive as to the unvisdon of permitting railroads and trolley lines eurltes at their own will as the bill provides rne za zss Bs Psbss Gss0sasRasasa ss s as Folsi
 @ ss t. aa s
 a Bsposs @ = q the s = sas s sa aBPfsa
 Had this rule been in force throughout England the railroad system of
 state collapse it's stockholders would receiving the blood of divers would railroad wFecks its directors would not be indictment of England be stained These two rules aimed capitalization Gov
  which he. briefly stated, as follows:
 m sas Aas s ss @ s d a
 spoke has, resulted not in one of evils in ALL them. Rates increased the service is poorer. and there dividends. Thousands of have suffered the trust funds have been impaired Public confidence shattered Honest toers have been deprived work beyond recovery The evil that has been done seems endless.
 the General Assembly facilitate more destruction and wider suffering
 result already wrought insurance conpa- Connecticut piece hurry up aton called amortization plan which enables keep upon valuation of bonds gardless of the actual facts of value
 This bit of legislative deceit is defended Gourant, in it's issue of yesterday in this way
 Life coanDsn do not buy long time bonds syy matter shao aa lP te5 n h s 5ae at
 fy the @ s9 @ % a ns @ pa1poss @ % taes @ m of them
 Not much chance for financial sanity in Connecticut its leading of public opinion utter like
 The stock was bought because it known it would yield certain fixed but the state neglected it's duty and the stock stopped paying
 Holcob found that the Connecticut Railway Lighting Company, early 1e09 had acquired azaion of @ 5o0o0 property formerly capitalized ss2ioe82
 Shore Line Electric Company $2oooOoG property valued by the company two examples in addition example the New Haven system which show the fruits policy which these issue securities without The commonwealth has given what amounts to per aloft