Review of reviews and world's work . hecommittee of protesting shippers, explainedwhy. from his companys point of view, it wasbetter to offer stock at $100 a share to oldstockholders than to make a public offering50. Thus he opened up the root of theproblem: What is a railroad investmentand what constitute- a fair return on it? , . It was hotK-d that other testi- fmding I ? mony would tollow as to the exact processes through which id turn> its stock into cash, and dis- - of that cash. No such fundamental had been unt termi- I. Tl. era roads had presented to the Commission in V York to that
Review of reviews and world's work . hecommittee of protesting shippers, explainedwhy. from his companys point of view, it wasbetter to offer stock at $100 a share to oldstockholders than to make a public offering50. Thus he opened up the root of theproblem: What is a railroad investmentand what constitute- a fair return on it? , . It was hotK-d that other testi- fmding I ? mony would tollow as to the exact processes through which id turn> its stock into cash, and dis- - of that cash. No such fundamental had been unt termi- I. Tl. era roads had presented to the Commission in V York to that the entire increase iii rev- -i miles represented, li would x> om the desired higher till fall more than $7,000,000 ^h»»rt of ni ip to the railroads their ?000,000 not 1 the higher I, On the other and the fthii>f>er* |x>intcd out I lupplies, ? »rtliuhi< hhigher in |-ri. 1 thai through modh rule o( thumb 1 tii ti N. Y. GOVERNOB STDBBS OT KANSAS seemed the only method open to the Com-mission under the present law. Withoutthousands of expert accountants, and morelegal powers and directions than exist to-day,the Commission can only approximate in de-ciding as to what is a just and reasonablerate. It is to be congratulated on seizing thisopportunity to bring out such incidental tes-timony as that it drew from the IllinoisCentrals Comptroller. The New Assurance is now strong that inRmiroad no great time the country and Commitaion , -n i 1 , • ( ongress will learn how to esti-mate railroad rate- scientifically; for lasl month President Tafl announced the per sonnel of his Commission, which this yearsamendment to the Railroad \< t authorizes, to report on bonds and tl< their issuance, and how it may be controlled by the puUic. It ua- understood thai the of this bodj was to be 1 on idered at the Cabinel meetings later in the month, as one of the < lii< 1 intc rest of thi V
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Keywords: ., bookcentury1800, bookdecade1890, bookidreviewofrevi, bookyear1890
