Show STATE Of TEXAS AS HORRIBLE EXAMPLE titon 1111 II II t Hally Journal I Is of Co Coi of the nt T Dan Daily St at date Mender Au Aug Ie 10 1001 are In circulated In Ia large among the of the tate stat lief et C lb legislature tura la Is to toI receive a I sample alJ le The Journal contains aft an editorial cOen covering moot moat of tI the page di de voted to tt that department giving to It UI of the situation obtain tog In st 1 that date dat lit In Texas TeaM and aDd ot of tile the remarkable condition of na brought about by tile the or of the man DIU mandate dal date of the la In the theLme Star State The article hR ha to 10 do with tile the pro JKO proposed posed Increase of 1 id per r cent on en Inter Interstate state rt rates on originating In hi the lb tale slate of Texas The went Into etl effect t on Aug 1 II sad ad according tIme the editorial quoted wu was the left Ift by which the railroads of that state ate could bt be resuscitated from froal the thet t of death or dissolution tie de creed III by the laws of Texas Texa which the railroads or of the tate elate could not live up to on of the reduction In mt rates by b the Texas raIlroad corn com 1011 and sanctIoned by time the I law lawmaking making bodies of the stale The Th article enters Into the of thee lite situation stating the total amount of mileage III the tho state ant and to toti ti Ial amount of outstanding nueh mIleage The average amount of at such stocks anti ana bonds bond on a mileage or of 1174 footed up UI per tall mile which the In Iii their sworn statement to the railroad com coin mIssion said IBId had cost t to build and equip The railroad eton ston would only admit a tal III of the railroad property ot of As Aa to the real value or of the tho property In question the tia Jour ol elates that thaI the Texas tax board on oath wi values the property at Th rIm railroad commission 1 risk mak lag 1811 sweeping reductions In railroad rates mes tAking the greatest shipping ala 1 pl l or the and lumber lumberas as the especial objects of reduction The r rate l on cotton w was reduced by tb the commission to te 6 cents ir lOr hundred pounds Many heated hoate lIlon held between the commIssIon anti and ran rail railroad road The latter rep represented po resented that they could not exist and haul freight at the r rate te fixed for fol them by the They pointed out that th the I law or of Texas the death knell of any corpora tin withIn the tho borders or of the which could not meet maet all U of IbI It tIns and such each or of theIR and that It was wal ruining th the business of the roads and plunging them unto Into bankruptcy to take away y theIr thel chief source of rove revo ntH flue Th The commission watt Implored to let the rates remain where they were but without avaIl hen the results of the year 1001 a appeared Jred they showed earning or of only 4 per pel edit cent on the tho rail railroad road outstanding Thin Things went on Bt at a rate te thAt It in when the commissIon lon proposed to 10 take oil U 33 per cent of the passenger rates being charged by the raIlroads that tM thu officiate ot of the road filed suite aun In the courts courtl or of the tale state asking that all the ral rates by the Texas railroad bo be set aside Th Tb panic was wa on The cotton otton ship Mip shipment meat ment COI Os the year had fallen tallen oft orr 35 per er cent from the previous year and this grain crop was wall even shorter horter Sheer ruIn stared the roads road In the lb face The Thelast I last straw was vall about to tall fail when the good Judgment or of the commission a as ached Itself and the proposed J reduction In passenger rat rates Wits wall withdrawn lint Hilt what of the reSults which actual actually ly hy followed the thu wholesale al reductions In rates rale enforced by the Texas Ion In 1007 the tho commission ordered the r railroads of the stat to purchase worth of ne new equipment The groes revenues of tbs road roada fell ort oft last year NI more than th n Operating expenses Increased of A million dollars The Income fell oft orr with such A slump lump that instead of oC hay over ove six Ix millions million In ot of fixed charges a In the year ear previous the fixed charges Income on May 31 I exceeded the Income by In other word the prIncipal railroads railroad of Texas In IPOS failed to earn enough by to 10 pay their honest hone t debts The rhe roads road were Vero In the hadow or of death accordIng to Texas laws Some Something thing to be done don Either the wages or of the men must bo be cut down or the tho thoral ral rota The Tho railroad officials chose the latter course and announced an Ino aso or of 10 p per r ont cent on Interstate rate The questIon Is II now up the p people or of Texas Texal and on the out outcome come cot hangs hang the Ihl ale rale of the railroads railroad or of orthe the Lout Lolle lIAr Ita state II |