The Connecticut labor news., 1922-12-08
Profits Come To Light
Some Things That Railroad Receiver Should
 Not Forget in Making a Public Address.
By LEVI STEVENS LEWIS.

Benjamin F. Bush, of St. Louis
 was appointed receiver of the Mis-
 souri Pacific system August Io, 1915
 This system" is, or was, composed
 of about 7,485 miles of line all told
 including both the Missouri Pacific
 Railway Company and the St. Louis,
 Iron Mountain and Southern Rail
 way Co.,, together with 10 minor cor porations. These minor or subsidiary corporations are quite insignificant so
 far as mileage. is concerned being from $50 yards to only 50 miles in length; all of them together aggre- gating less than I5o miles.
 About 60 days after Mr. Bush had been appointed receiver, namely, on October 27, 1915, he addressed the explain "Why several large railway systems are in receivers hands" A printed copy of this address lies on my table while I am writing these lines. It's the old, old story, that should be Cf it isn't) familiar to all well-informed citizens. It's the same old story of poverty and starva- tion," camoHfage and misinforma- ton. It should be reprinted with no tations, paragraph by paragraph (and 1t may be later on) but space to make proper comments IS not at my com mand at this writing
 In this alleged explanation-page I4-appears a decidedly interesting declaration which reads thus: "One of the systems with which I am con nected, operating 7,285 miles of line, IS in sound physical condition at the present time, but Pm sorry I cannot say as much for its financial condi- ton. Through stress of circum- stances, which I have already men toned, 1t has been obliged Ito de fault in it's interest payments, and as consequence, its control has been taken from its owners and put under a receiver by the Federal Court
 For the past eight years the owners have operated the proper ty to the great convenience and bene- fit of the people. It has transported their persons and their goods with advantage and profit to them. It has kept employed during that time more than 44,ooo persons and paid them $226, 100000 in wages. In addition, it has paid $o6,ooo, ,ooo for fuel and ma scented labor in other industries. It has paid over $I7,ooo,ooo in taxes for the upkeep of the states institutions. In four years 1t has expended $2I,- ooo, ,ooo of new money in road and equipment, and with all this-a pub lie benefactor as 1t has proven itself to be-the owners. have not received one dollar in return for their labors and their investment for eight years"
 In the light of that which we gath CT from other sources of information, namely, from the Statistics of the railroads in the United States" pub 1ished annually by the Interstate Commerce Commission, the above declaration becomes very remarkable 1 and very significant. T
 It appears from these official re- ports that more than five million dol lars were paid to "the> owners of this l system" as dividends Aproft) on the stock owned by "the owners in three years"
 We get this information from page 24o of the 1912 report; page 243 of the l 1913 report, and page 24I of the 1914 1 report. From these reports it appears l that the stockholders of the St. Louis, | Iron Mountain and Southern Railway l Company (the owners) received divi- dends amounting to $I,775,6 ,64o in 1912, and exactly the same amount in 1913 and 1914 also, making $5,32o,o47 in these three years,/
 And it appears further from the same reports, that the Missouri Pa cifc and the St. Louis, Iron Noun tain and Southern Railway Com panies together had on hand June 30, 1910, something more than $I8, 100000 of Surplus" which is undi- vided profit. In four years Ouly I, 1910, to July I, IoI4) more than $I4, ,ooo of this fund-$I4, ,262, ,285 1 to be exact-seems to have disappear ed. These millions Certainly belong ed to "the owners" and it is morally certain that only "the owners" re- ceived them.