The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1922-09-26
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Believing that they monopoly the freight
of the land the railroad directors generation engaged in
of plumber that ought to have landed of them
who participated the practice the penenary for the rest of
their lives There have been bigger asca perpetrators
greater financial fraud who have used the mails for
illegal purposes railroad directors generation
who unoaded billions watered stock guile
less investors and then for the dear widows and the orphans
who had entrusted their them and to whom they could
not large dividends. They legislatures with tears
pleading the privilege that they might protect
the endoments and savings of the widows and dear
orphans who rustingy made them guardians of their ALL
them the railroad transportation bust
ness nothing gold brick game, selling
engraved certificates that did have dollar Of valuation
behind them These pughatted froccoaed gentlemen ban
drooks passed for respectable in their comfortable leather
cushioned club chairs They put pous face They attended
church with regularity and today stained glass memorial windows
If the orthodoxy they pofessd real their
punishment plenty But the problems they bequeahed are
to solve.
work vexing problems did make Stockholders
of dividends their stock If the railroads had
spent the money they acquired from the sale of stock their
railroads. they could have made their stock worth more than the
stock of Standard Oil worth They would have made
earnings value of their stock But they found
profitable sell stock the from the sale in
their pockets and then force the traffic rates up so
they possible cent to keep the stockholders
They sold much watered stock they not able
do this.
The stockholders of more than railroad rebellion
Chicago Pacific The stockholders took
hands and put dishonest officers out
stockholders renanced the whole institution took their losses
and made effort put the road something like decent
basis pays than cent If
reorganzers all the the road would
pay infinitely they did the best they could to let every
defrauded stakeholder get little show for the money mucted
That road dishonesty mismanaged the New
York Hartford has been without
of business through of the richest
agricultural and producing regions all the world Honest bust
management made the stock of that railroad al
unpurchasabe would it have been instead of dis
management making it dead drug the stock market
it is today
anything like decent earning basis watered stock
the railroads have been forcing prices and and and
whole railroad strike problem today centers in the simple fact
railroad the land working against the logic and the
reasoning sound business principles by demanding that the
wages down and down and the
they receive shall go and up and up.
Let observe in point six classes of freight rates
from Buffalo and New Jacksonville that effect in
fair sample freight from given point
any other given point in the country.
Buffalo N Y and points taking rates to jacksonville
100 s. r. II II 50 Il In effect June 90 1918.
1875 1O4 965 80 IA SO Effective June 25 1918
1865 1885 1885 9S5 1875 Effective Aug &C. 1920
225 1914 III 144 III 81 Effective Jan. g. 1922
New City and points taking rates to jacksonville
s. g r 70 IS g II In effect June 90 1918
1925 1O4 965 87.5 1875 SO Effective 25, 1918
1885 1885 1885 1865 Effective Aug 26, 1920
1876 1863 1876 1o2 81 Effective Jan. Is, 1922
Not a single where rates decreased All railroad
charges ascend While they insist the employees getting back
normally they make such effort for themselves.
They however without argument
the claims they The today
paying the penalty of the pirates who preceded who