| Show I WATER AND RESULTS I I That for which wo we have contended J i l e c hao tried to advocate 1 has at last come to pass at last In a measure On Dec C G 1908 In tho the arti artl article I cle do give every overy oer man his h Is due wa wo said If the present rate rato of profit were wore applied to the he actual capital In iii Invested vested there would be a great sur surplus surplus plus So when whon the water is squeezed out of stocks and anti a n reasonable profit is made you will win see wages go So up u and living expenses come down The man with a barrel banel of oC o water vaLer with witha a little money In It Is principally pr re responsible responsible responsible for lor high prices We Wc did lId not know lenow kno then just to what extent our views lows might bo be shared by bv b others but bitt ut we have havo since learned that w are arc not alone that oven even SOnIC some high in au an thorit hold the same views It Is claimed e by isy IJ man many and anti perhaps all public service corporations that tho the people through the th courts and ani legis have no right to attempt to con cun or regulate their business l or to complain of the profits they th y make mako hut but as the people through their pub lie servants have made wado It possible for these concerns Con corns to establish and amid I maintain their business ss they they the the pee peo pic pie have hae a right to refuse t to be bo mulct mulcted I i ed cd out of their property in III the pay ment of rates of profits I Then It has been tho the custom of or al ali a aj almost j i most all 01 corporations to at Intervals I when then tho the profits might aught look too largo large to Increase their stocks or I tion without adding to tho the value of ci their property this is called water t Ing lug the concern and amid In this way wa they the theare I are able to keep the rate of o profit j i down I So then the people are arc mulcted of i their property In tho the payment of oC dl Ill IllI dividends I on supposed values alues that do donot donot donot not exist in other othel words the people have given these institutions fran franchises and anti other oilier property and cally call set them up In business only to bo be robbed rob cd by br them Therefore it is hut but just to tho the people that after atter I having placed these cubs clubs in the tho hands of unfortunately unfortunate dishonest men menthe they the should have some strings at attached with which to tb t control them We re rC do not desire to do any an ice to lo any an one but hut from roni the fact that at least a part parl of tho the property owned bv b all corporations belonged origin originally ally ali to the people they the have hac ha 0 a per pet perfect perfect feet rIght to share in tho the or I to compel compol tho the corporation to accept ac opt opta a charge sufficiently low to meet a reasonable rate of profit on tho the actual m nc Invested But the institutions have caught t the tho people both hath coming and going They Thoy swell their values In iii order to keep tho the rate of profit down loWn and at nt the tho samo same time to make mako more moro In iii the aggregate except one CIne day in iii the tho year ear and that Is when whon they see sec tho the assessor coming coniing then the val vat values i ues shrink amazingly that they thoy tIle may escape paying their Just proportion of tho taxes and tho the people have to pay par Just that much more So long as tho time majority of the tho peo pee people people pie desire to keep the competition HYS system tern tem In vogue they thoy cannot and will wJ not nol object to paying a n reasonable rate rato of oC profit on actual Investment Bitt But ButI I ho tho question Is what Is a 11 reasonable rato rate anti and who lio has the power and au authority thorit to fix it The supreme court of oC Now New York hats has undertaken to answer these questions In Its lis decision on what is known as the N Y gas ease case In line lino with our contentions tho the court decided that actual value must bo ho the basis of or es eg estimates of 0 capitalization Thor They pro propose propose propose pose that Mint the ito water ater shall ho he all a poured out for tor that dont cost coat any an anything thing except when drawn from Crom a n hy II 11 drant and that the valuation In Include Include clude clinic tho the realty equipment and fran tran T 1 Continuing tho decision states that thit chine chiac of oC tho the concern which the peo Pi pe I plo always wa s gives thorn thom thornon on this lair fair and equitable estimate of ot 1 actual values the tho net not earnings shall ahall not be moro more than six per pel cent cont and t when the tho state fixes the tho charges that thoy tho must be adhered to until experience 14 J Jonce once ence shows them to be bo either too high or Inadequate We cannot BOO soc how anyone anyon can cnn ob oh object Y Jeet to this ruling for or the right of 1 t both the thc people and tho the corporations arc protected and we wc feel sure that IV the conditions that would necessarily follow ollow decisions of oC this lIlls character all ail alt allover over the country would bo be gratifying The Tho people have too long paid onor enor j inoue inous tribute to greed greedy grasping tT av avaricious avaricious and unfeeling corporations Let us ug call a halt and at least partly reverse the tho order and give the tho under underdog i 1 dog a chance We Wo await awalt moro more laws lawa t 1 of this character and decisions uphold d v vInn Inn Ing them S S |
