Newspapers / The Charlotte Observer (Charlotte, … / May 31, 1907, edition 1 / Page 3
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. . L Vi i i. .: i ii, J-v i. .... ...it ; i war ia front of calum ,i n and Intrigue from be- l r t the end gave to his i -whom he had served no i 1 Ijoj-bought gift of a race I a nation forever united. - ;uU problem that we have i,. id to : preserve the rights perty; and these can only be vea u we rememoer that they j less Jeopardy from the Soclal 1 the Anarchist than from the ory man of wealth. ft nna h evident that to refuse to invoke ower of the nation to restrain rongs committed by the man it wealth who does evil Is not to neglect me Interests of the , Aut is to neglect the Interests i man or means who acta honor 'y his fellows. The power of auon mustvbe exerted to stop 3 Of CUnninir no less thnn rrlmu lence. There can be no halt In )urse we nave deliberatelv iant I pursue, the policj of asserting Ight of the nation, so far as It ae power, to supervise and con- ae ousmesg use of wealth, espe i m us corporate form. To I ,11 y wora to you Ui. 81 na most important woi. or, tne common c&r dolng an inter-State business; a a0!,uiuieiy vested in the na . One In so far nn tha rs also transport the mails It my opinion probable that er their business la or Is not i ? 10 in 8ame extent ct to Federal - control, under .lause .of the constitution grant f v,? f a nal government power posiroaas and therefore fcessary Implication power to ill action necessary in order to them at the highest point of l'ii-r ...... y i? eaerai aw ooiin .t. J , wkuuun Willi iatlons or with railroads that put upon the statute books X the last six years has been a n advance in the right direc J All action taken by the admin- j.n unaer tnese and the pre g laws has been Just and prOD fvery suit v undertaken during t n a "ult not merely f, 7wul reJu,rea, Dy the facts; in the interest of the people as le, and, in the long run, par- ,.- me interest of business m property generally. Th ' no swerving from the course '3. een mapped out In the leg- u uiuwiy enacted and in the res in whfrh T f legislation. We best serve the 3 or me Honest railway men iwe announce that we will fol ;u precisely this course. It ia ,urse or real, of nitimnf nn, sm. There Will ha nn holt In wara movement toward n tn bment of this policy; and those jisn us to take a sten hnnt into stand still, if their wishes fealized. WOUld find tha thnw vited an outbreak of-the very mey rear. There must be eva legislative and n dm into taction for the correction of us which every sincere man umu to have existed In rail anagement in th nnt INMENT MTTKT STTPW!Tt7Tcw i w faf . V i additional legislation as that icn l have asked in the past, ecially that for which T message at the opening of the -n oi congress, is not mere ,he Interest of the public, but Thphatically in the interest nf onest railway manager and of aiors or would-be Investors in t securities. There must be in the Federal government a wer or supervision and con er the railways doin? inter usiness; a power In many re t. X FASHION SEBVICE ' -3 i ll IflOl rTaS' BOX-PLAITED BRUSH Pw-Xecked Yoke and Elbow 81mtm. f am Pattern Ko. 189L 1 AH Seam Allowtd. ter problem presents Itself to tli an ending a suitable pattern for the ,:lrl between the trrtng areiof six and rs. The model here illustrated will j all that difficulty. The waist and ailewlth wide box-plaits, and the w1 roke with iu Voutllne Is a distio aature. All sorts of tub goods are . for this smart little drM. rn is jit 4 si to VI tim. For a M-rs, tii lirrun nd I'-i yr-U cf ImcIim ! or i yari 34 t;i !:$ ; .4 ft , ..... i - monev Instis.Tl nf ntn,?. If in lm. provt nvnts en ul.i 1 iiirrif-j cor porate purroscs: and anv man aetins in sucn rasnion should be held to a criminal accountability. It should be declared eontrarv tr nnhHo nnllfv henceforth to allow 'railroads to de vote meir capital to anything but the transportation business, certainly not to the hazards of snefmlatinn. For the very reason that we desire io lavor tne honest railroad man ager, we Would afipk to disoourair thfl activities of the man whose onlv con cern with railroads la to manipuate -"ir stocKs. The business of rail road organization and management ouuutu Tift ITAnt Annralir A1&tnt rnwt . J. UlOMUUl. XtVUl investment or brokerage business, especially of the speculative type, and f'uperw 01 th rnrnnrsit An ahnnld be devoted to the extension and bet terment Of its taJlrnada and tn tY development of the country naturally tributary to th lines Then nrtnoi. Pies are fundamental. Railroads BhOUld not be UrohlhitAd fmm nt. quiring connecting lines, by acquiring stocks, bonds, or other securities of such lines; but it is already well set tled as eontrarv ta nuhllA nnllcv in allow railroads to acquire control over ana ; competing lines of transportation. Sublect tn first tv. Ing to the government the power of SUDervisIon and rnntrnl whlrh T hgim advocated above, the law should be amenaea so that railroads may be permitted and encouras-ed in mnk traffic agreements when thana tH-in the Interest of the general ; public as well as of the railroad corporations making them. These agreements Should Of COlirRA h'A mndo -ntiKlIn fr the minutest detail, and should be "uujeci to. securing the previous as sent 6f the Inter-StatA mmmnrx. commission. The movement tn ras-iiiaf vntimn... n 1 ntlr 1 a . V' M come to stay. The peo ple Of this nnuntrv hava ' mad. their minds -and wisely made up their minds to exercise a closer vuniroi over ail kinds of public-service comoratlons. lnniiidino. ..nn,.... 171... i . ' ..& lauiTftJIO, ivery honestly managed railway will .i miu uui lose Dy tne policy. The men more : anrinn tn nirii.. !.thanJt0 make the management i "r roaas emcient ana honest are io uuiy ones wno nave cause to od pose it. v STANDS FOR PULICITT. . . , oreouv : aiiu neaithv crorrena ntnnd ..toUKi.. - - - - uimibviwij I it i e era or tne widest pub- "vijr, uu oi iair aeanng on the part Of railroads With RtonkhnldAr. o-- sengers. and shiDoem. wa ooV consent of no man in carrying out I we giacuy welcome tne aid of everv man in n..n.- the law in n dAtniio . u, IU BCtUfT "s enactment and the faithful ob- oi its wise provisions. We seek , nothimr nvointinnn for such laws as in their essence now VS? 8taid oll Common wealth , of Massachusetts; such laws as now Obtain In Rnirlnnd Tn., . - --'-avsA yuf . w fwicy, in us tnor ough carrying out and its progressive develonment. l in ." .i..r tn ni,ve' ,We ould be the first A-ot 8t.afira,nst any 'orm of con SifL0' prPerty' and whether we s,?nieAd 2,r n 1 may add that the Supreme Court .could be trusted in hAye,nt 2 " we that thM should D6 nothtnt? dnn nniia u i ' v vuniycusauon or with- out due nroces nf inw - of course, we shall punish any crim SS.'I m wucan convict under the law; but we have no Intention of counfounding the 'Innocent many and the gu ltv few hv nV"J""s sweeping scheme of vengeance. Our io vuuwiiy W prevent these abuses in tha fntiiPA " ... " e doeracan bethey shair be,' brought j aitu iiu .criminal, high or low, whom we can reach will r. celve immunity. But the rights of 5!,,ns should . tfot" bef --" u wy ie8isauon or execu tive action; we sanction no legisla. ' wh,c uld fall heavnfon them, instead of on the original wrongdoers or beneficiaries of the D-Tnr,e must be no 8ch rigid laws as will prevent the development of the country, and such development ?JnlY U h,ad lf estors a??o?: "red an ample reward for the risk they take. We should be the ffret tS oppose any unreasonable restrictions belnsr nlaced nnnm k i . s ocks and bonds, for such would xt?? Sfmper the growth of the Ultimately stand nn . ...u Z leLntVL ?ur demanding - " "";'"v ' ma govern ment power to nrii - .,.'. fnde 1 inflation of securities! train Vhl 8 v 1 come In i train. The man who builds a great railway and thoA whn ,1 render a great public service: for -u7" iiansyonaiion facilities are a vital necessity to the country. We uli and ampla retur to such men but we d nnt oJl10!"8 many for the benefit Or the few. , Wa favm. ka man who operates his railway upon a straightforward and open business ient8'nfrm the. tandP0lnt of peS nent invastmAnt. an ,u i . . nnt Ku11 lta fut'Jre; we . are against only the man who cares nothing for the property after his speculative deal m its seeurlHM nam h i j . favor the railway manager who keeps ... wuvu wnn me people along his llnm rathAf that, i- " r . . u V1U0 toucn ui apiecuiauvej market: krho operates hl tin witt, .r.lv.. adyantae he can legitimately get out of hl a vr i,BtOCkhoMer8 and to tha public good service with reasonable Ete2 Who doer nnrnnamt. vi- . ... ' a, view to the temporary speculative advantage which will follow capifij! . t i". -:-ti i . to the l-;-r- : cor.:;..;. -Ion t:.i r- ;."c N ca tl.rlr cc-pt of fnr'n".i tion, tend to show that as a whole the railroad property of the country is worm as muca as the securities rep resenting it and that in th sus of opinion of Invest fro f Vi a f'sl value of stocks and bonds is greater man meir ioiai iace value, notwith standing the "water" that has been iiijeciea in particular places. The huge value of terminals, the immense cApeuuuures m . recent years In aouoie iracKing, improving grades, roadbeds, and structures, have brought the total investments to a po nt where the opinion that the real r eA v?rea.ter tnan the face value is probably true. No general state ment such as this can be accepted as ?wng more than a seneral value; there are many exceptions; but the evidence seems ample that the great mass or our railroad securities rest upon safe and solid foundations; If JJJ1 lnvany deffree to command complete Dublin pnnfldann. t cause isolated Instances of uncon- onaDie stock-watering and kin dred offenses arouse suspicion, which naturally extends tn on . ate securiUes so lone nn .imiior practices are possible and the ten dency to ' resnrt tn; tv.A. strained by law. While there hav oeen many instances of gross and flagrant stock inflation, and while, of course. thero nm.i. T, '""""i vaocs oi over capitalization, yet when the statis tics of the weaker roads, the overcapi talized roads, are combined with thOSA. ff tha itmnn. - j- - .. v- uv..6c, iTOuo, ana con sidered in . the aggregate, in . my Judgment they will not be found to impair the whnioanmA . in nnnui . v.wwwv aiiAa.Aiv;ia.i standing and position of the 'rail- roaas as a whnlA- find whiu ihn.. railway owners and managers who nave enrlhad thim..!.... . i u ,i niuwma uy iunuiuk their properties with securities rep-! cBcnung little or tin ri mi... t.: Serve Our Strongest nnndamnatlnn i on the other hand our hearty com mendation is due those owners" and managers representing; U I ( "believe, the large majority who have year after year worked faithfully, patient ly, and honestly in building up our rreat Bystem of railways, which have knitted together In close commercial and social Intercourse widely re moved sections of the country and stand second only to the great " busi ness of agriculture itself In contri bution to national growth and devel opment - Ample provision should be made oy congress to enable the lnter-State commerce commission, by the employ ment of a sufficient force of experts, to understake the rhvsiri Vnlnatlnn of each and any road lit the country, whenever and so sobn as In the opin ion of the commission such a valua tion of any road would hA nt vat.. to the, commission In its work. There are . undoubtedly some roads as to which it would be an advantage, from the standpoint of the business of the commission, tn h valuation as soon as possible. PHYSICAL VALUATION. , At the, outset let It h that physical valuation i a , cea: it la no fmffltMAnt tndaatiMm.Hi a Tate; but it will be ultimately need- u m on cBsenuai instrument In ad ministrative supervision, it will be of use to the commission in connec tion with the dutv nt isfrn.ini.. the reasonableness of future capitali sation, both as one element to enable SUCh a bodv tn inm tn a -iut c usion in tie matter, and also as an lo do pia,ced before the in vesting public, to enable this public in Its turn tn Kaoni. - u .,.J. though of course capitalization must . """-erminea in large measure by future need rathA fh o i . " J!.0W ,mPrtant physical valu- r""" wm prove as one of the fac tors to assist in flYinv T fc Y -" vimuiuio laics t ifimv not able t0 3udge but that it will be of a certain Importance can bet safely assumed because of the opinions of the inter-Stat cpmmissioniandrofftheTand because of the recent action of the Northern Pacific Railroad in advancing-such a physical valuation as de cisive on its side in a rate contro versy. Such a valuation would neces sarily help to protect the taUroads "-""v. wouia therefore be as important from the standpolnt Of the nrotectlnn r Foini J??.11! ia,"dp?Ln.t Vth Protection w vw vuuuwi nun nr . rAiaja. n ?nSesAary, t0 the endurtng prosperity knd development of the countnr that r?.." y'eld reasonable standpoint quite as ImpoK tS Know thA nr nil m. . . ... lng of the road as to Jtnow what it would now cost to reproduce it; from f,theK BttandPInt the human equ tion that is. the mtnnnmM . 9-".vuv UL IHB road Is more important by far than the physical valuation; and the physical valuation of the road in one region may have an entlrelv different relation to thA rei J 4V- . . , " ""UO VI, mo juaa n nnumer region where the conditions ' are utterly different Therefore the physical valuation can never be more than one of many ele ments tn be rnn)Wod. i element, and at times may be a very important . element, when . taken in connection with the earning power, franchises, original cost, character of management, location, and, busl. ness possibilities, in reaching an es timate on the property and rights of a corporation as a going concern. CANNOT BE RETROACTIVE The effect of such valuation and Supervision Of nornrltl AH AflMn a! 1 1 . retroactive. Existing securities should ! , I :ne ,aws ,n existence at a " i t pppcial examiners, ; - i: v::i te to sec that the t.os of tha carriers are kept in conformity with the rules laid down by the corn mission. Thus the means are already at hand and the machinery already created which, when perfected, will put the public in position to know the facts, so that the small investor can exercise an intelligent judgment when entrusting nis money to the promotors of,great railway enterprises. We hope as one of the chief means for better ment of conditions to secure ascom nlt tmbllcltv In thfi affair nf rail roads as now obtains with regard to national oanKS. There need be no fear onthe part of Investors that this movement for national supervision and control-over rniiwnv win dg Tor tneir flotrfTriAnr. Tf fhAV miM this, let thAm stndv thA -' J Ta -- j .... . ... . . . . nisiory oi tne rauway-coniroi move ment m sucn a oiaie as lowa. it wouia oe nara to nna anywnere a more pros- nurnni nr mnrA tntAlHffpnf MmmnnttT V-VMW . " " . a community of thriving farmers and thriving townspeople, lowa did us share in the work of building railroads when the business was one that de manded men of the utmost dar ing and resourcefulness; men like that gallant soldier and real captain of industry, Grenvllle M. Dodge; men who ran risks and per formed feats for which It was difficult tn mnlrA thA reward tnn hlch? dim who staked everythlnr on the chances nf a. lwslnMs which to-dav hannllv In volves no such hazards. Iowa was at length forced to undertake the work or reguiauns; me railways wunin ner borders. There was great outcry Arnlnat It. Tt wan nrorlaJmAd thnt such effort would ruin roads! already built, and prevent building more. But Iowa proceeded with the task, and It resulted, not in ruin and stagnation, but In increased safety and profit to the honest investor. ; Instead ' of put ting ma A a tntm thA handa iftf tArelvArn It was followed by a prosperity that rescued many of them from receiver ships. , WHAT WAS DONE FOR BANKS. No State, of course, can do for the railways what the national govern ment has already done for the hanks, and that government should do some thing analogous for the railways. National hnnlr stnok or a hrmirht and sold largely on the certificate of char acter which the government, as a re sult of its examinations and supervis ion, gives to them. To give another Illustration from Iowa's experience, when the national banking law was amended to allow small banks to take out national charters, srreat nnmbers of the State banks of that State were re-organlzed Into national Institutions. The Investing public was ready to back with unlimited confidence the Institu tions on which the Federal govern ment had set the seal of Its confidence and approval. The railways have not been given this certificate of charac ter, under the seal of the national government, and therefore many peo ple who invest freely In the shares of banks are reluctant to buy railroad securities. Give then the same guar anties as to railroad securities which we now give them as to national bank shares, and we would nr tiv see these people Investing In railroads and thus onenlnsr a. new reservoir from which to draw the capital now so much needed for the extension and betterment of the railroads. AH this, mv friends, la unhRtnntuiTv wnat i nave saia over and over again. Surely. It ought not to ha A. 11. . . II I io Bay mat n in no snape or way rep resents any hostility to corporations as such. On the contrary, it means a iran recognition or tne fact that com binations of capital like labor, are a natural result or modern condi tions and of our national development. As far as in my ability lies my en deavor is and will be to prevent abuse of power by either and to favor both so loiig as they do well. ThA aim nt the national government is quUe as much to favor and protect honesf cor porations, honest business men of wealth, as to bring to Justice those In dividuals and corporations represent ing dishonest methods, i Most certain ly ther will be no rin Yfltinn .hv ft Via v ... - v.m-wvA W government authorities in the effort io get at any great ratfroad wrecker any man who by clever swindling devices robs Investors; oppresses wage worners ana aoes injustice to the gen eral public. But any such move as thta Is In the interest of honest railway operators, of honest corporations, and Of those who, when they Invest their small savings In stocks nd hnnd wish to be assured that these will represent money- hon for legitimate business purposes. To confer upon the national government the power for which I anlr wnnld h check upon overcapitalisation and. up on the clever gamblers, who -benefit by overcanitallzation. "Rill1 If ftlAMA would mean an Increase in the value, an increase in the SafftfV fit thA mi nnlrm and bonds of law-abiding, honestly managed railroads, and wnnM n. it far easier to market their securities. oeueve m proper publicity. There has been comnlalnt nf .nm. u. ..x. x. . """"" v in vestigations recently carried on, but those who - complain should put the a.mihe J1 belongs-upon the misdeeds which are done In darkness, and not upon the Investigations which fratfS?,.6"1 t0 "ht- aminls tration Is rennnnthlA tn . - . r T.T M lUlIJlllMT VII IhJ'ftnJ8 not sponsible for what the light showed. I ask for full power to be given the Federal govern ment. because nn ini . legislation effectually Cop with these r Si crp orauons engagtd In In t- 3 i it : J h-s I' t.i rl..tv rf .-! i ..i t v :tk by corporations in the pdtt. There will not be the slightest Icf-up in the effort to hunt down and punish every dishonest man. But the bulk of our business ls-honestly done. In the natural indignation the people feel over the dishonesty, It is all-essential that they should not lose their heads and get drawn into an Indis criminate raid upon ail corporations, . :j t'. i s!.- 1, ;ve t: V t;a c railroad pwllclts. Tl r i J .t 1 t t are t::t:t:e,l lo Rreat rt'rtarJj; a' 1 i i t tj " -return public opinion is right in hoi 1- (.,'. CTl t ing them to a rigid accountability for'frv j',- t'-e the way they perform their public du-Jj c .".v,,, ties. For several months past some, if; insSt oa tC , not all, of our roads have been in a. themselves 'a-1 condition of extreme congestion. aop' -exact Doubtless this is mainly due to the Let the b' ; fact that the COUntrv has mite-rnwn ! ..," r1"- i.. " a- "I". .: . retrain, irom ail people of wealth whether. they do i well or III. flnt nf anv atirh wild ! sano-i j 4tii.. . i lne "Uty Of er-. movement good will not come, can not been unable to keep pace with Its ft,!,. V? S to 1 6me, and never has come. On the .growth. But It is also true that or- ?n, Trn;, contrary, thtf surest way to invite re-j dinary methods of operation, which fhaf it v. tt'J, V ". action Is to follow the lead of either jhold good in a placid time of steady iLS th!Ir duty,t demaffOffUA or vlsinnarv in a nween. I and' reinilai. i ia - - . sharpest way I . . . ... . b.ivtm.u w . wnv Ty a . .v. -a lime Of CT RIB I I "'"H WU UUt S necessities of public need. The experience of the past winter proves how great U our dependence on the railroads and how serious tha responsibility of, those who undertake to care for the public In tha matter of transportation. I believe that there is sufficient Ingenuity and executive genius in the operating offi cials of the roads greatly iio diminish the troubles com plained of. The most effective way to lessen the demands for unreasonable Inff assault unon nrnn vnltiAa and upon public confidence, which would work Incalculable damage In the bus iness world, and would produce such distrust of the agitators that in the revulsion the distrust would extend to honest men who, In sincere and sane fashion, are trying to remedy the evils. The great need of the hour, from the standpoint of the general public of the producer, consumer, and shipper alike Is the need for better transportation facilities, for additional tracKs, additional terminals, and lm-1 n aim, Buuiuuiim terminals, and lm-1 '-'v-i "v "ua iur unreasonaDie provements In the actual handling of legislation is for the railroads acting the railroads j and all this with the' individually and collectively to reme- uy m maiif 0,3 vu39iui 01 me aDuses and shortcomings for which there really are remedies, and for which remedial laws are demanded by the shipping public. The admirable national legislation of recent years, in taking away from the railroads the power of giving il legal favor has taken away from them one of the Illegitimate methods by which they used to protect themselves from improper attack; and-it Is there fore necessary that upright public ser vants should be as vigilant to protect them against harm as to prevent them from doing harm. Undoubtedly many high officers among the railroad men have followed the extremely unwise course of endeavoring to defeat the enactment of proper laws for their own control, and of endeavoring tn thwart, obstruct and bring Into dis credit me administration of the laws. But the folly of some nf their num. ber in no way alters our duty, nor the wisaom 01 nrerormm? thta -Antv in a spirit 01 aosoiuie justice alike to the railroad, the shipper, and the srenerai liuuiav A MATTEH OF .MORALS. Finally, friends, let us never fnnrt that this is not merely a matter of business but also a matter nr mnmis The success of our whole system of government depends upon our dlscrlm lnatinsr between men. not with rAfAr ence to whether they are rich or. poor, Whether they follow. Bit Arminntlnn or another, but with reference solely 10 wneiner tney act as honest and up right citizens should act. Let the local attorneys of the big roads keep out 01 pouues; ana wnen iney nave to ap pear before the national or any State Legislature let their names be put on a special register, and let their bus! ness be above-board And nnti T-h (are blackmailers in public life, and least possible delay. Ample, safe and rapid transportation facilities are even more necessary than cheap transport tatlon. The prime need Is for the in vestment of money which will provide better terminal facilities, additional tracks, and a greater number of cars and locomotives, while at the same time securing, if possible,; better wage? and shorter hours for the There must be Just and reasonable regulation of rates, but any arbitrary and unthinking movement to cut them down may be equivalent to nttin o cornplete stop to the effort to provide netter transportation.. There can be no Question aq tn tha desirability,, of doing away with re bates or any method of favoring one shipper at the expense of a competi tor, and direct dealinc With thA rataa Is sometimes the only method bv which this favoritism can be avoided but where favoritism Is not alleged, of srettlne alower rat. It must ha membered that It Is often possible that those demanding It may be diametri cally opposed In Interest tn thnA whn demand a better, safer, and more rap Id transportation service, and higher wages and" shorter hours for employes. If the demand for more taxes, W hlghef wages, for shorter hours for employes, and for lower rates becomes so excessive as to prevent ample and speedy transportation, and to eat up the lesrltl mate profits; if popular and legislative movements take a shape so Ill-directed as not only to threaten honest Investments and honest enter prises, but also to prevent any effort for the betterment of transportation facilities, It then becomes out of the question to secure the necessary In vestment of capital In order to bring about an improved service. Rates should not be unduly high; . the should be a thorough safeguarding way man who does in to remember that ths l al harm done to the corruption Is Just as the corruption takes blackmailing a fci (Continued on F StatesvilleFem: Modern equipment, Large attendance. Ki fluences. Moderate rri excellent advantages. ( studious girls are want tuition for session, JH, prices as moderate, t logue. J. A. SCOTT, I For Good BuiL. address Rock Hill Brie!; Rock Hill, l or Catawba Hn: Van Wye!:, ; against accidents; there should beho'fu9 b1lacltma,1er Jn VPUbllo life, and improper shirking of taxes; the shin-' tne . cl:,zln who ls. honest w,n wa" pers of the country must be supplied .,n81 in,T m!n wno "lea t0 bIack generously with cars and all nthAf. ma 1 a railroad or a big corporation equipments necessary to properly care w , i t t"ame ern termination to for our commerce and All this means Punlsn him as against the man who consider a proposition tn mi- the public debt. But the public Tn" terest requires guaranty against Im thaPfutnflrAlt,P,ilCaUOn "rltles in u!ur.e- Reaonable regulations for their Issuance should be prov Jed so as to secure as far as may be that to legitimate bi we snau harm no human belnsr whn Is honest; and we shall beneflt l,!.? above all upon "the1 hoT,e mK lM " Scoropete incT SfJS:?5. the crpua the t me of their issue. This n,tlnn ter-State eomm.rr. -.t!" '5. .- ShaM ore , injure securities them full justice v exact from them lS of th naVt?nne?0me fn ,mPtnt part ; return full Justice to others h .Sid? wish to make it tn th- 7PUU11C wo 1 r ine,r ,S!"iance she investor o m liJ!1 . ?. , !2 68 to as far honest development orthe rai road. asainst the man who, while Anrth In himself, lay, upon the S S: wviib oi tne road and ruita. a. niirrtnn z debt without adding eornSSg -wUfc mo iiiriKjiiiy or f.lwny rrr !- II tTffliM m ... . ur ai::.3 ft v , v.. 7 l- Z.M , ' VUI1U1- tlons of our Immense Inter.Rto merce, are such as to make the cen tral government alone competent to exercise full supervision and control. GRAVE ABUSES. The grave abuses In Individual cases of railroad management In the past represent wrongs not merely to the general public, but, above all, wrongs to fair-dealing ana honest corpora tions and men Of wealth. b'eanA th excite a popular anger and distrust which from the very nature of the case tends to include In the sweep of its repontment good and bad. alike. Prom the standpoint of the public I c-in nt to r rntly ?-y tbnt ns soon '''"- -l f- 1 r f" -f--t for our commerce, and All this means that the national government must be given full and effective power of su pervision and control. But the Inter ests of those who build, who -manage, and who Invest In the railroads must be no less scrupulously guarded than the interests of the public. It Is ur rently necessary at the present time, in order to relieve the ATtittnr nnn. gestlon of business and to do away with the paralysis which threatens our expanding Industries, because of limit ed and inefficient means of distrlhittinn that our railway facilities should be so increased as to meet the Impera tive aemanas or our internal com. merce. The want can he mt nniw hw private capital, and the vast expendi ture necessary for such purpose will not be incurred unle nH afforded reasonable incentive and pro tection. It Is therefore a prime ne cessity to allow investments in railway properties to earn a liberal r,t,,m . return sufficiently liberal to cover all risks. - We can not get an improved service unless the carriers nf thA try can sell their securities, and there- rore notning should be done unwar rantedly to impair their credit nor to decrease the value of their outstanding obligations. BELIEVES IN RESTRAINT. I emphatically believe that positive restraint should be Imposed upon rail way corporations, and that they should be required to meet positive obla tions in the interest of th ni public. I no less emphatically believe that In thus regulating and controlling the affairs of the railways It la tapa. sary to recognize the need of an im mense outlay or money from private sources, and the certainty that this will not be met without the of sufficient reward to Induce the ne cessary investment. It Is plainly inad visable for the government to under wits to direct tne physical operation oi me railways, save in wholly excep tional cases: and the supervision and control It exercise, ahnnii h. v.. tlreiy adequate to secure Its ends, and el hv mure naraasinar than i. .. sary to secure theA And. 1 believe that the miimm thA TTmII. A rtt't" M "I mi.icu oiaces are coming to i more perfect sense nf th. -f-.--.. blllty of the relation thih tv... to the public, and of the dignity of that ooIuHaw mi ... ifuuiii uiey are public ser vants In the hle-hont ,.it. T A m ' ' WT"- luteal OCIIBC. Indeed .there is not a brakeman nor a switchman upon the tnost remote roaa in the land who does not fill a puDiic runctlon and render a service of large public usefulness. We be grudge neither honor nor reward to these men to whom we entrust our lives and our property. Behind these active workers in the railroad field Let ir.e mall you free, to prove mrit, samples of my Dr. S hoop's Itestoratlve and my Book on either uyspupsla. The Heart, or The Kidneys. Address me, l)r Ehoop, Racine, Wis. Troubles of the stomach. Heart or Kidneys, are merely symptoms of a deeper ailment Dmi't make the common error of treating symptoms only. Symptom treatment il treating- the result of your ailmn .J3 Tint ih rntise. Weak Ktnmarh npfv- th tnte nerres-mems Ktonuch wchV r, always. An(J the Heart, and th. , . tn well ntv t!-,-!r cf-ntrn"',.. I Tone Up With; Good Paint It fs good business to keep prop, erjy "toned up.M S coat ot PurWWte Xead Pains not only nt a k e things look better and gives them a higher telling value, but it makes things wear better and gives them a higher value for long wear. Lewis Pure White Lead gives an opaque, durable coat that protects and preserves from the ray. ap ot time and weather. Prospective buyers of Pure; White Lead have heretofore been subject to much attempted fraud in adulteration and sub stitution. You are now pro tected by the Dutch Boy trade mark which is found on the tide of kegs containing only Pure White i-eao, made by the Old Dutch Process. Look for the boy. SEND FOR BOOK "A Talk im Mnt." gitm JnM ldfnrw maeion oa ti puiat tihiwt. Snt jut BPOU f VQUMt. JOHN T. LEWIS & BROS. CO. . sji 8. Frost St., Philadelphia, Pa. JAMES E. IIITC: co3imissiox Btrr, Cotton Yarns ar Cloths. CONSIGNMENTS BCI Philadelphia, 122 and 12 1 Boston, 185 Snn;? New York, No. 73 Charlotte. 25 & Ti SolomOn-Norcrc: CIVIL, STRUCTURAL DRAULIO ENGIX. 1622-162S Candler I ATLANTA. C FOR S Hendersonvill:, LIVEnY, SALE AND I'l., Liberal Ten 10 horses, good c 10 carriages and all new and the he: 15 sets of name made by Studebal. Wood, new bn: block to Gates I: court house. 50 fr ons. The best Dlac Carolina for live in stable. Party has 1: tnan he can do ci-1 for selling. Como Jf. U. Box 422, HendersonvilL License For Sale by all Dealers The following licenses t 1st, 1907, and must be r Auctioneers, Architect, dealers, Bakers, Barbers. ) Bugjy and Wagon dealc dealen, Civil Buslneers, C dealers and manufacturer Bottlers, Electricians, n Companies, Furniture Feed, Stables, Gas Comra Pistols, Hotels, Hacks, Bones, Job Printers, J Fertilizer dealers, Lai ber Yards, Livery r Stands, Machinery , Lenders, Newspaper busses, Pawn Brok;: -, panics. Clothes Trc phers, Ice Cream d tains, Soda Water r. tate Agents, R. R. Galleries, Skatlny I. Stamps, Undertakers, Dogs. THE GllflRLOT " , AQtNT S TOH American All-Wrougbt Steel Spin Pollejs csj "GXz:" r . , BcUln-. We carry fas stock Yal. ana Town Hoists to ait t full line of racking Finn, Valvfa snj mjh . Dilworth Floral G- a vi. In laclnt your or.-r, leir li r-.', l. Ros, J.'rr-.Moi. I." t f r i V ' - r-
The Charlotte Observer (Charlotte, N.C.)
Standardized title groups preceding, succeeding, and alternate titles together.
May 31, 1907, edition 1
3
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