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Page 116 - ... this rate, it would more than cover the expense of hauling an extra car by quick train back and forth every day, with the incidental expenses of interest and repairs. So they put the car on, and were disappointed to find that the local oyster-growers could only furnish oysters enough to fill the car about half full. The expense to the road of running it half full was almost as great as of running it full; the income was reduced one half.
Page 70 - A railroad connects two places not far apart, and carries from one to the other (say) 100,000 tons of freight a month at 25 cents a ton. Of the $25,000 thus earned, $10,000 is paid out for the actual expenses of running the trains and loading or unloading the cars; $5,000 for repairs and general expenses; the remaining $10,000 pays the interest on the cost of construction.
Page 83 - Utica and Schenectady, Syracuse and Utica, Auburn and Syracuse, Auburn and Rochester, Rochester and Syracuse direct, Rochester, Lockport, and Niagara Falls, Buffalo and Lockport, Tonawanda, Attica, and Buffalo.
Page 117 - Of course there was a grand outcry at X . Their trade was discriminated against in the worst possible way — so they said — and they complained to the railroad. But the railroad men fell back on the logic of facts. The points were as follows : (1) a whole car-load at...
Page 115 - Suppose It Is a question whether a road can be built through a country district lying between two large cities which have the benefit of water communication, while the Intervening district has not. The rate between these points must be made low to meet water competition ; so low that if it were applied to the whole business of the road It would make It quite unprofitable.
Page 135 - They were defeated again and again, and finally, in 1877, the Supreme Court of the United States sustained the constitutionality of the Granger Laws.
Page 71 - ... cents a ton. The old' road must meet the reduction in order not to lose its business, even though the new figure does not leave it a fair profit on its investment ; better a moderate profit than none at all. The new road reduces to 15 cents; so does the old road. A...
Page 255 - ... operations possess an invariable routine-like character. 3. Where they are performed under the public eye or for the service of individuals, who will immediately detect and expose any failure or laxity. 4 Where there is but little capital expenditure, so that each year's revenue and expense account shall represent, with sufficient accuracy, the real commercial conditions of the department.
Page 229 - Commission of 1878 sums up the arguments on the other side by saying, first, that it is a mistake to expect lower rates or better facilities from Government than from private companies. The actual results are just the reverse. The State is more apt to tax industry than to foster it, and when it attempts to tax industry it is even less responsible than a private company...
Page 116 - That is, those oysters would bear a rate of one dollar per hundred, and no more. Further, the railroad men found that if they could get every day a carload, or nearly a carload, at this rate, it would more than cover the expense of hauling an extra car by quick train back and forth every day, with the incidental expenses of interest and repairs. So they put the car on, and were disappointed to find that the local oystergrowers could only furnish oysters enough to fill the car about half full.