Courier Democrat. (Langdon, N.D.) 1891-1920, 1916-02-10

80. .1oiiy, was Il most popular sal
| at the governors ball. The street rail-
way company has always made money,
and the city needs additional trans
! portation facilities. We have reached
the normal period Of extension. and I
do not see what is to prevent us from
limitless prosperity"
THE franchises" Senator Allerton re-
minded him. Your present permits
have less than five years to run"
81 have had any trouble in hav-
ing them renewed" objected Marley,
priding himself on his management.
Times are changing" sighed Aller-
ton. There is a growing disposition
on the part of the public to charge pub
lie service corporations for the use Of
public property
1.-The people are ungrateful." mourn
cd Governor Waiver. who had enriched
himself through furnishing electric
light ut his own price to a public
which had known nothing better than
gas. The moment they see a profit
on their luxuries they want part Of it..
An undivided surplus such as the street
car company has had is a constant
menace"
That was a sinking fund for extern
slons and improvements" Marley re-
minded him. THE stockholders had
no right to ask for Il division of it,"
"They would if we had not put it out
of harms road" insisted the governor.
That much has been saved to the
men Who really earned it. but I should
not like to see a similar profit exposed.
10 my mind, Il Z per cent dividend is
an even worse folly"
1T gives confidence in the stock"
argued Marley. The public would
never be so eager to take up this lew
issue if it had not been for that { per
cent dividend"
That's what it was for" interpo-
lated Sledge, looking out of the Win
dow into the sunken garden and vain
ly hunting the hand hole in the gate.
1T has served its purpose" granted
Allerton. but taxpayers arc becoming
greedy. When they see the stockhold-
ers of Il public corporation making {
per cent they want some of it and try
to make the corporations pay part Of
their axes. In every city of impor-
lance the voters are demanding pay
for street car franchises and making
the street railway companies, in addi-
ton, bear half the cost of all street
improvements"
Its Il bad outlook" agreed Cover
nor Waiver. Cranky, as soon as 1
receive my new issue Of stock | shall
have it quietly placed on sale"
Marley looked at him Indignantly.
why. the street railway company is
entering Oh the greatest period of
prosperity i'll its career" he asserted.
"There'll be no trouble about fran
chises. The city is wild to have the
improvements and must have them"
Allerton looked at him wonderingly.
Waiver is right" he stated. Il shall
sell my own stock, and I'll venture to
say that Sledge has already made 81
lent arrangements for disposing of his.
Do you know hat the franchises at
present granted in this state are rev.
ocable and that it is not possible to
secure one which is positively safe for
longer than ten year periods? When
you come to the renewal Of your fran
chises. Marley, you will be met with
Il demand for pay and will have other
restrictions imposed on you. Our pres
ent franchise law, in view of the pub
lie tendency. is Il bad one for in
vestors."
Let's fix it, suggested Sledge.
I'm afraid it's too late" protested
Allerton.
Sledge. "A new one can be put over
quick"
II fancy that there should be protec-
ton somewhere" opined the governor.
No matter what changes in public
sentiment, the investing class, upon
which the public depends for prosper
ity, must always be protected"
But how:' inquired the senator.
How in this particular case"
Head 'em Off" grunted Sledge.
I'm keeping my stock"
"Id be glad to hold mine,'' stated the
| q buC ID IL " Uc 1luuC VI
future value?"
That's up to YOU" Sledge replied.
rising. Figure i: out and see me to-
morrow. Marley. | want to talk to
you"
MI. Marley, today a man worth over
a third Of Il million dollars in the street
railway stock alone. arose in offended
dignity. He was a trife too imper-
tant. too capable and too wealthy to
be ordered about like a messenger boy
by a man who might shortly be a con-
victed criminal. Molly had arranged
an interview between her father and
Bert on the previous afternoon. and
MI. Marley also now knew a thing or
two.
II would suggest tomorrow" he stat
ed coldly. II should much prefer to
talk with you during business hours"
"This amt business" said Sledge.
leading the way into the library, where
he took q seat in an alcOye.