for perhaps $100 to comfort the plaintiff, and as a consolation for his having had such a groundless and miserable case. And yet the treatment of corporations by courts and juries is almost divine when compared with their treatment at the hands of legislators. The dealings of legislatures throughout the country with the corporations which have been created under their sanction is in most instances characterized by anything but justice, honor or honesty.

But this brings us back again to the source and origin of all the trouble. Individual legislators come together fresh from a vigorous canvass for their election before the public, and therefore from an intimate association with the people who in most cases quite sincerely believe that there is no danger that any authority will ever be able to abuse or oppress any corporation as much as it deserves. Is it to be wondered at that the Legislature under such circumstances forthwith introduces, and passes, if possible, every conceivable measure it can contrive which shall punish the corporation without hurting the public? All that limits this persecution, practically, is that in most matters the public and corporate interests are so nearly identical that a severe injury to the one is no little detriment and loss to the other. The long lash intended only to lacerate Some corporate interest, not infrequently winds itself about and stings a whole community of individuals.

But aside from these oppressions visited upon them by authority, the corporations are not fairly dealt with by the press. Still, the newspapers cannot be very much blamed for the positions they take nor the influence they exert. If those who control three-fourths of the industries of the country are determined that the impersonal agencies which control the other fourth have no right which they are bound to respect, and so are resolved to place upon them all the taxes and burdens of society and go free themselves, we can hardly expect the newspapers, which prosper only as they accord with the public opinion, to take up the unpopular cause of the corporations for no more substantial reason than that it is just.

Besides, it has always been the

complaint of the press, put forth no doubt in good faith, that many corporations enjoy valuable grants received from the public, and which the same public has been greatly inconvenienced by granting, such, for instance, as railroad franchises and privileges in the public streets.

case.

As before stated, this never is the

If it were true that a street-railroad lessened the utility of a public street for any purpose for which the street itself was opened and dedicated, then this position would not only be tenable, but the railroad ought not to be allowed there at all. But if the railroad, on the other hand, enables more persons to traverse the street than otherwise could do so, and to get about at less expense of time and money than they could in any other way, then the public has surrendered nothing which it would not be injured by revoking and taking back. Then why should a street-railroad, which carries people through the streets, rest under the opprobrium of being in some sense a public nuisance, and be subjected to half a dozen separate and excessive, if not punitive, taxes per annum consequence? Why should it be constantly taunted and abused for simply existing, any more than individuals who transport passengers for a living over land or even upon the high seas?

in

The only remedy for all these evils under our form of government is a change of public opinion; and this must come with enlightenment and education as to the real facts of the case, if it comes at all.

It is, I know, extremely difficult to convince one class of society which has become accustomed to deal unfairly with another class that it is wrong to do so; even more difficult still when that is accomplished to change the practice. Consider for a moment how deep-seated this anti-corporation prejudice is. There is no provision in the constitution of the State of New York that taxes shall be uniform and equal. Such a provision would allow corporations to escape punishment. The organic law of the great State of New York would not prevent the Legislature from compelling the corporations to actually support the State, provide for all its paupers and criminals, maintain the public schools and provide for all the wants of society. Now, all this is simply outrageous; it must be changed, or corporations must in the end go out of existence. The first step to be taken is to demand for corporate property the same rights and immunities extended to all other property. Every legislative body should be, respectfully petitioned to establish equality between all proprietary interests, whether they be corporate or individual. This would open a full discussion of the question. If there is any good and just reason why twenty men associated together in any industry should be treated more harshly than two men associated together for the same purpose, some one will doubtless be found bright enough to discover and state it. Certain catch words are constantly applied to corporations, which do them great injustice and create false impressions. They are called monopolies, but as a rule they are not in any sense monopolies. If the New York Central or Lake Shore Railroad Company had enjoyed a monopoly, would the West Shore or the Nickel Plate ever have been built? And what is there to hinder under existing laws another railroad parallel to them both? The catch phrase of Rich corporations" is false and misleading in most cases. It is the large aggregated capital, contributed in small sums by thousands for an undertaking proportionately large, which the unthinking call riches, without remembering the corresponding liabilities, and the prejudiced and unprincipled call it by the same name to excuse depredations upon it. The fact is that corporations in this country are not as a rule rich, and they would not dare, even if they were able in many instances, to become so any more than the taxable individual would among the Oriental nations. The profits which corporations earn for distribution in this country are far below those made in private business when an average is struck.

It is exceedingly fashionable to speak of “soulless corporations," while everyone knows they are no more "soulless" than Smith, Jones & Co. Smith may have a soul, and so may Jones and each of the junior partners, but the firm is as soulless as any corporation; and indeed the firm is practically a fictitious person, and quite as likely to be deserving of persecution and ill-treatment as any corporation. This impersonal character of the corporation is, however, the cause of most of its troubles and the excuse for its oppression. With our modes of feeling, if not of thinking, it is not considered as cruel and unjust to rob one thousand unknown men of a dollar each as it would be to rob one

known man of $1,000, while in fact the former constitutes one thousand crimes, while the latter is but one.

In all these matters and many others, those whose earnings are invested in corporate undertakings should see to it that they are not misrepresented. Capital is said to be timid, and it should be so in its investment, but not in its protection. It is my firm belief that but few even well-informed business men know to what extent the capital invested through corporations is unjustly dealt with by the State. It is the business of the corporations to see to it that those who sin against them shall at least sin against light. From the leading editorial column of to-day's New York Tribune (October 4, 1889), in an article upon another subject, I find this sentence: "It is not equal taxation to tax all the property of a company twice, once upon the entire value of securities representing it, and again upon the real and personal property which the securities represent." Is it to be supposed that the writer of that sentence knew that it was applicable to nearly all the corporations of the State? That under the unjust application of this oppressive system the corporation which the writer represents pays taxes upon more than a million of dollars of absolutely fictitious valuation, with no visible property whatever to represent it? And the corporation in question is neither more nor less fortunate in this respect than most others. To cure these evils, corporations must enlighten the public, petition legislatures for relief, and stand for what is right and just, never attempting to correct any evil by any indirection, but demanding what is just and equitable; and as a last resort fighting for it in the courts and before every legislative body. The press and the public will only be with the corporations in their just demands when the corporations themselves show sufficient courage in defending themselves by all the proper means at their command.

Respectfully submitted,

G. HILTON SCRIBNER,

Committee.

ACTION RELATIVE TO THE SEPARATE PUBLICATION OF
THE REPORT ON PUBLIC AND STATE TREATMENT
OF CORPORATIONS.

Mr.

Wm. Richardson: I move that the paper be approved and entered in full on the minutes.

Mr. Jenkins: I would like to have it printed, and have every member of the Association receive a copy of it. I consider it a very valuable paper, and it should be in the hands of all of us.

Mr. Wm. Richardson: I will embody with my motion the suggestion of Mr. Jenkins; and that is, that the Secretary be authorized to have extra copies of the report printed, and one at least sent to every officer of every Company that is a member of the Association.

The motion was carried.

APPOINTMENT OF THE WORLD'S FAIR COMMITTEE.

The President: I will now announce the Committee to take charge of Street-Railway Exhibits at the Exposition of 1892: GEORGE W. PEARSON, Washington, D. C.

G. HILTON SCRIBNER, New York, N. Y.
CHARLES B. HOLMES, Chicago, Ill.

E. B. EDWARDS, Philadelphia, Pa.
HENRY M. WHITNEY, Boston, Mass.
THOMAS LOWRY, Minneapolis, Minn.
CHARLES GREEN, St. Louis, Mo.

EDWARD LUSHER, Montreal, Can.

WILLIAM H. MARTIN, San Francisco, Cal.

On motion of Mr. Littell, the Convention then adjourned until 3 o'clock P. M.

THURSDAY--AFTERNOON SESSION.

The President called the meeting to order at 3:30, P. M., and said I suppose the business in order is the discussion of the last report read.

No one responding, the President remarked that there seemed to be a desire to wait until the Nominating Committee reports.

GENERAL DISCUSSION.

Mr. Jenkins Will you kindly give the Convention two bells to start? [Laughter.]

The President: I have no bell, but I will give two raps.

Mr. Eppley Gentlemen, I wish to relate an anecdote, an incident that occurred on my line; it is perfectly true, absolutely true. In 1887, when I first went to the line in Orange, I made arrangements with the Daft Company, by which they were to run an electric motor along a certain stretch of track. One day we were going along, and saw a lady and her daughter standing on the sidewalk, and we stopped the car and asked them to get in. They did so, and rode along some distance. They looked at the lights which were burning brightly, and admired everything about the

car. I asked one of the ladies how she liked the car. She said she liked it very much; it rode nicely and everything was bright; but she added she would not like it in New York. I asked her why, and she replied: "Because my husband is in the fertilizing business." [Great laughter.]

The President: We have with us two gentlemen who represent the Berlin Street Railway Companies. We would like to hear from them, to know how they conduct their railroads in Berlin.

Mr. Schmidt: I am very much obliged to you; but I cannot really explain myself as I would do it in the German language. We feel very happy to be here in your company, and we hope you will come to Berlin and visit us. [Applause.]

It was suggested that Mr. Schmidt should make his speech in German. It being first understood and agreed that the President should translate Mr. Schmidt's remarks, the latter gentleman very ably addressed the Convention in his native tongue for several minutes.

The President: The gentleman says to you that he has visited this country as far West as Denver, and that he has never been received more kindly in any country than he has been here; and that he can only get even with you when you visit Berlin.

The

President had so condensed Mr. Schmidt's extended remarks that the Association credited the President with altogether too free a translation, and so expressed itself in vociferous applause.

Mr. Henry A. Sage, of Easton, was called upon to make a speech.

Mr. Sage: After that German speech, that no one understood except the President and myself, I do not think at this time it would be prudent for me to make any remarks. [Laughter.] Mr. Eppley: Was the translation a good one?

Mr. Sage: An excellent one.

ACTION ADDING THE PRESIDENT TO THE WORLD'S
FAIR COMMITTEE.

Mr. Wm. Richardson: I will make a motion, and that is that the President for 1888-9 be added to the World's Fair Committee appointed by the Association this morning.

The Secretary put the motion, which was carried.

The President: This speech will be short: I thank you.