Evening star., 1918-04-01

manage the property ana u eneG ar .
alsglsassa N gl.h thst Asne sssnt sssme
the directors ana 6fassFs add 6Vsffufh
the Objectionable policies. WhAh MAsh1
inKtonians own. the street railways as
taxpayers under the psnaln9 bill ana y
as provided In that blu the G9inmis-
without responsibility % TIE. taApAy yins
owners, the people OF the coa atunity,
II displeased with the peSnOnalitien of
the policies Of street railway manA9e.
ment, can change neither this dnp6pniAr
managing ofiicials nor the obnoxaous
policies.
Safeguards Of Present System.
Even the travelling public 10 better
safeguarded In its rights by the prss-
ent system than by the pfopesed brand
OF municipal ownership. Since, the
railways are largely owned in WASH
ington, the pressure of enlightened
veloped from the complaints. feHHeh-
strahees and petitions OF fell6w
washingtonians Influences the st6ek-
holding ownefe, and through them the
directors and officers of the fallw4yA to
be fair ana considsfate OF tbs com
munity.s rights and welfare Moreover,
II abuses Of eJ.s,munity rights 90
cure correction by appeal 70 the Public
Utilities Commission, which has been
created and endowed with large pow
ers for the very purpose OF guarantee
ing fair treatment by tho corporations
to the travelling publie.
Under the proposed system Of opera
tion the travelling public and the com
munity in general will have less safe
guards than at present against abuses
OF rnisfnanagement. II dissatisfied
with the Commissioners as railway
managers they cannot discharge them.
II disgusted with, the policies pursued
the owners cannot alter them. II rebel
lious over pser equipment and
poor service, slew, iHfreauent or over
crowded cars. the community cannot
drag the railroad management before q
public utilities comtaistion for adj
Inohitien or pdnlshfheht Uhder the BILL
there will be no public utilities COM
rights, and the Commisaionersswhe are
to control the railways are responsible
to nobody apparently for the manage
YneAt or Yf1ishiAhAkefhefit, ANA least OF
all to the owners Of the railways, the
taxpayine people Of thA coih1nunity.
who do not select the Comm1ssiohefs.
cannot discharge them. and haye no
power to compel them to alter any
policy or to do or to leave undone any
act In railway management.
To Buy, to Own, But Not centfsl.
The bill sets mp nunicip.l ownershir
without municipal control 1t reduces
the psWeF o. the people to mold street
railway eondfttsAs In their own inter.
est, while burdehing them. a. Momtnal
owners with Milli0nb q doliAfa 81
bonAea debt. The eUahmunity'i sofe
funesfsn II to beafs Ail burden ssf ihA
debtedness ineutfed N buyihg the
roads and to pay fronA future taxes
such bills 0k expense fer bO0t nianage-
ment By lne1beriencea efAeian ~ these
enlcfals choose to. fncdr in tAeir naMe.
The ecmniunity NJ owner under the baii
hAb obvfstAit leAs eeAtfoi ever the
IL own istefests thsn aA1ef the sys-
tem " private UwneraAiD which II II
proposed to dfsplace.
FRANK Parsons in hia s'story Of New
Zealand" says In 1894 that the evils incl
then ftiateriaiiAed liz REV. Zealand and
were not likely to manifest themselves to
any serious extent where the government
as well as the railroads were really owned
and operated by the people: Where po-
says. these evils afs vsis iksly to occur
ruilowing this line Of thought, Parsons de-
ciares that government ownership OF the
railroads, while. HI his opinion. good Tor
New Zealand, would not do f0f the United
States at could not be done In America
vet, for the common people do not own
the government. ThAt Is the hrst condi-
ti0h. In New Zealand the common peo.
Die own and operate the government, and
are therefore able to have the railways
The essencs of ownership Is control"
In direct accord with Parsons' reason
inG, since control by the people ID the
supreme test, municipal ownership is IL
cipaiity like Warrington. which is not
controlled by its people.
Confscation Of Franchise Values.
Another reason why municipal owner
ship should be last resort here is found
In the difficulty Of fixing q price Tor the
compulsory purchase Of railways which
shall be fair 10 both Taxpayers and stock
% The = present owners Of the washing
ton street railways are the men. wom-
en- and children who own street rail-
way stock. They are largely waning
tonians. OF the 1,0o3 Capital Traction
hallway Rail- W ana Electric stockholders are
residents Of Washington. Some are
large owners; many are small owners.
They have paid all sorts OF prices TOR
their stock. A few still remain WHO
bought as q gamble ct low prices in the
period of no dividends experiment.,
failure and pessimism. Most OF the
present owners have bought after the
losses and anxiety OF the pioneer ana
experimental period had been endured,
and some returns in dividends were In
evidence Or immediate prospect Many,
Influenced by q confidence, perhaps
foolish, in the future prospects OF the
property, have paid excessive prices for
watered, change-manipulated aud IN
flated stock.
II the washington taxpayers will buy
the street railways from the Washing
ton stockholders who now own them,
how much will they fairly pay? Will
they give back to the many who have
been lured into paying inflated prices
for watered stock the money which
they have invested? Or will they dis
the present owners. and the market
value OF the stock, and corlf1scare the
future franchise values (Which the
stockholders thought they owned) by
paying only the amount necessary to
replace the existing equipment and
plant?
why should wasnin 8 tonians as tax
payers either cheat Washingtonians as
stock owners or cheat themselves?
II the taxpayers reimburse the stock
holders, including those who have paid
artifcia1ly inflated priceS, they viii be
foolish. II they do not reimburse the
| stockholders and confiscate the future
franchise value that entered into the
stockholders investment when he
bought the Transaction VIII be IN As-
senee dishonest. II In buy1ng one nauAt
be either q fool or q knave, one SHOULD