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Evening bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1895-1912, December 29, 1908, 3:30 EDITION, Image 6

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Persistent link: https://chroniclingamerica.loc.gov/lccn/sn82016413/1908-12-29/ed-2/seq-6/

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EVENING nUt.LETIN, HONOLULU. T. II., TUESDAY, DEC. 29. 190S! ' ' ; "' ' '
, .?
t"';,
'ffrSt'n'l STF ,iijf
,.'; - VH
1
At $13.50
WE ARE SHOWING AN ELEGANT LINE OF "
Men's Suits
Grand Material
Highly Tailored
- Attractive Colorings
Equal to what you arc usually asked double for.
NO EXAGGERATION. -
Come and See Them
L B. KERR
I
Monopole Red Top---Champagnc
Most delicious CHAMPAGNE of the Age.
OLD GOVERNMENT PLANTATION CIGARS.
Only the very best of PORTO RICAN TOBACCO used in the
manufacture of the cigars. All sizes and colon.
Lewis & Co., Ltd.,
m rao BaJ" m mB """Warn ko.
Tg:
' 1 Tatt.'r Xff
rREGAIfSHOfcS-,
.1 FOR WOMEN ' I
REGAL SHOES are in demand all over the United
States j the very name of REGAL is a guarantee of High
est Quality and Style-Correctness. You can always de
pend that, any REGAL of yonr size is the best shoe for you
to wear.
And you are sure of finding just the right size in RE.
GAL Quarter SizesA specialty that is exclusively Regal.
SEE OUR IMMENSE NEW STOCK OF
SPRING STYLES.
REGAL SHOE STORE,
McCANDLESS BUILDI KG. KINO AND BETHEL STREETS.
f V
WEEKLY
$1 a
.r
& CO., Ltd.
AEAKEA STREET.
BULLETIN
Year
VALUATION OF RAILROADS PROPOSED
AND LA FOLLETTE PLAN URGED
Congress Will Strive To
SoIvq This Problem
Of Nation
SENATOR NEHfLAND'S BILL TO
APPROPRIATE LARGE SUM
It Can Be Done and Needs only Mon
ey Will Be Great Task,
However
(Special Correspondence)
WA8HINC1T0N, D. C, Dec. 7. ,
me movement 10 ouiain a vaiuauuu
of the railroads of the country will I
lie pressed from the opening of the
Congress session. I
Senator Newlunds of Nevada will
SENATOR LA
Introduce a bill to appropriate money'
for tho great work, and 'later Will
try to havo It inserted in the sundry
civil bill as a part of tho paragraph
making appropriation for the Inter
state Commerce Commission.
Senator LaFollette will also press
his measure to the same effect.
lletwecn tho two bills thcro will bo
n fundamental difference, which is
considered of great Importance.
The Ncwlands measuro assumes
that thero is ample powor In the com
mission, under the Hepburn act, to
make a valuation of the railroads If
the Commission deems It necessary,
The LaFollette measure, on the oth
er hand, assumes that If such a task
Is to bo undertaken Congress ought
to outline clearly the conditions and
mothods of determining tho valuation
end so defluo what Is wanted as lo
assure thul no Injustices will bo
dono to any Interest, cither the rail
roads, tho security-holders, or the
public. '
Difference in Bills
Ever since the Hepburn law passed
there hus beon sharp difference of
opinion as to whether It granted suf
ficient power to enable tho Commis
sion to mako a valuation. Kor a time
It seemed to bo tho opinion of the
Commission that additional and spe
cific legislation would bo needed. Ilut
latterly tho Commission haH conio to
the conclusion that It has tho power,
if It only had the money. According
ly tho Commission will not recom
mend In Its annual report this jcar,
any legislation on the subject. That
a valuation ought to ha mado, how
ever, Is tho opinion of at least a
highly Influential group of the Com
mission's members. Messrs, Clements,
Prouty, and Lane uro decidedly In
favor of making n valuation or at
least af making It for particular ss
terns whennver questions arise, In
connection with tntc-maklng, which
Involvo tho matter of valuation. Tills
class of questions' is arising more und
more frequently us the Commission
undertakes: to exerclso Its rate-making
function. Tho ultimata resort of
tho railroad people is tho argument
that reduction of rates Is Impossible,
or that their Increase Is made neces
sary, becuuso tho company must earn
returns on Its Investmont. This
raises the Ibsue, "What Is jour In
vestment?" and answer Is Impossible
without n vnluation.
Is a Hard Task
There ate two ow of what
should bo done. One Is that when
huch u situation arises tho valuation
Hhould be inndn for tho properties In-
oh ell, niiji'i'lloii Ih mined n ,
thu ground that it Is practically lm
possible to decide rates for a railroad
on considerations of that road's prop
erty nlone. A rnte Involving trans
continental business, for Instance,
concerns not only the Union Pacific
(If that bo the railroad named as de
fendant) but also !vcry other road
competing with trio Union Pacific for
transcontinental business; for obvi
ously they must nil make the same
rates. Therefore a valuation would
have to bo mado of all properties en
gaged In competition for this busi
ness; which would bo much the samo
r.s valuing the roads of the whole
country. Manifestly, therefore, urge
the LaFollctte school of railroad
economists, the sane, way Is to make
tho valuation of tho whole national
s) stem at once, and thus bo assured
that the same general principles
guided In the entire task.
When railroad valuation was first
proposed the railroads wero bitterly
opposed, because tho)' thought It nec
essarily means squeezing tho water
FOLLETTE
out of" their capitalization, and, ulti
mately reductlon-of rates. Some re
cent Httirile3 In (elation' of valuation
to capltalizationVhaVe, largely dissi
pated this rar1fpr,nas been pretty
conclusively shjWn ' that the rail
roads, on the oapls of present values
for their realty, right of way, termi
nals, etc., nfo not much overcapital
ized; at least, not so much as ex
tremists have assumed. .While the
nominal capitalization of the coun
try's roads Is around Blxteen billions,
the actual 'capitalization, after elim
inating overlapping Issues, is placed
nearer to eleven billions.
Take, for Illustration, tho case of a
lallroad with $100,000,000 capital Is
sued. Suppose, $51,000,000 of that
capital Hob In the treasury of a hold
ing company , which has Issued $bl,
000,000 of Its own shares against the
holdings. Thero is a total of.u$ 151, -000.000
of stock In existence; but
manifestly the value Is all represent
ed In tho original $100,000,000; and
In getting at the real vnluation pi
the roads all such overlapping Issues
would havo to be cancelled. J 'Profes
sor Adams, statistician to (he Com
mission, after a -careful study, con
eluded that these cases would cancel
enough apparent capitalization to
bring the total down to between
eleven and twelvo bullous. '
Tho demand for a railroad valua
tion wns voiced by tho Democratic
pint form In tho lato campaign, but
tho Democrats made little of the Is
sue, politicians allege, because they
hoped not to offend some big corpor
ate Interests whoso support they hop
ed to secure, Hut tho popular de
mand for an understanding of the
valuation has been growing In re
cent years, and tho practical reasons
for It are better appreciated by pub
lic men, especially those who have to
do with administering railroad regu
lation laws, State and Federal.
E-fc
Tho uvcrugo Individual knows that
lallroad building is tho country's great
est business, but few realize how great
It Is; employing 1,700,000 men, with a
tross Income of $2,600,000,000 a sear;
taking In for freight and passengor
rates $7,000,000 a day. ' r
One night a big flock of wild geeso
flying down tho Allegheny river wero
attracted by n bright gaslight at a
pumping station, and It was only after
fifteen of them had been killed that
tho Mini voi a flow uway.
Tho population of London Is ever
lastingly changing and every hour
fourteen littlo l.ondoiuMH aro bom and
eight die. Twenty persons of eery
bundled din in tho workhouse.
I tomb-thrower onuses wreck of iw'n
buildings and lire (u Chicago.
HJJULFOLLETIE 1 jfy.V
i .vj-
Ifc r '
GRATEFUL
GIVE GIFTS TO
THEIR SAVIORS
JAPANESE FISHERMEN THANK
LIFE-SAVING CREW
Orientals, Rescued from the Surf at
Venice, Make Sure Their Gratitude
Is Understood FullyFreeth of Ho
nolulu Gets f 50' and Gold Watch
VENICE, Calif.,' Dec. 17. Tho Jap
aneso fishermen from the Port I-os
Angeles colony, who were saved yes
terday from drowning, through tho
efforts of the local llto-savtng corps,
returned to Venice this afternoon for
the purpose o"f showing their appre
ciation. They brought with them
gifts for the heroes of the crew,
George Freeth they presented with
a purse of $50 and a gold watch, and
they made a donation of $37 to the
sick benefit fund of the crew. The
occasion of tho presentation proved a
pleasant affair. The Japanese wero
profuse In their thanks for the serv
ice rendered their helpless country
men In their hour of distress."
a" n n
Horsemen "Hit"
For Hawaii
There has been a A'cry falr-slzcd
exodus of horsemen to Hllo within
the past few weeks, and the final In
stalment departed this noon on tho
Mauna Kca, Though tho Inter-Isl
and Company decided not to run a
special excursion to Hawaii for tho
races owing to tho slowness In book
ing on the part of prospective pas
sengers, there Is every Indication
that the Hllo folk will And a goodly
representation from Honolulu with
them when the races begin.
The Interest which Is being shown
In tho coming events, and the con
sequent efforts which are being made
to get the best possible horses out
for the occasion, gives promise ot
sports such as should be satisfactory
to the most exacting.
n a a
Sea Wrens Are
Expected On
Alameda,
JThat the 8caWreps wlllarrlvo
nere on me Aiameuu next irip is me
opinion ot members ot the llawnlt
Yacht Club. 'Unless the shipment of
the parts across the continent was
unduly delayed, they should be at
Ban Francisco In plenty of time tq
catch the Alameda,- It Is believed.
It Is now thought that the Sea
Wrens, fully equipped with canvas
and ready for the water, will cost
little In excess of $100. The matter
Is being watched carefully by
yachtsmen, and It the catboats prove
as well suited to conditions here as
it Is believed they will, doubtless an
other order will be placed for the
craft In tho Immediate future.
a a a
Automobile Is
"taking Hold,,;
In Kansas :
The extent to which the automo-
bilo Is being recognized as a neces-
slty'on the" farms of tho West Is In
dicated by tho tact that In central
Kansas alone more than six hundred
motor cars aro owned by farmers. A
dozen years ago the farmer In thjs
region who owned an extra team and
had a spring wagon had the standing
of a man of means In his community.
Now 'those who then looked covet
ously upon the spring wagon are
driving about in automobiles.
So keenly Is tho automobile felt to
be an agricultural essentlnl that agi
tation has been started both In Kan
sas and Missouri to havo instruction
given at the State agricultural col
leges In the general uses and adapta
bilities of the motor car. Tho agri
cultural school of Iowa, at Ames, has
already decided to have a short Win
ter cqurse of Instruction ot this sort.
PLANS LAW AQAINBT ''
STAGE-BOOR "JOHNNY"
Nev York Legislator Would Impose
xvcsuicnons on me uean;
Boys"
NEW, yOHK, N, Y Dec. Sl.fSup
pressW by"8tate! 'legislation ot tho
siage-dOof "Johnny.", so familiar in
this city, will be urged' again n the
New York Legislature this year'by a
local assemblyman who Is prepared
to bring It up before tho State law
makers for passage. All male pa
tions of a theater, according to the
bill, mutt register If they deslro to
communicate with an actress. In do
Ing so they must glvo their full
name und address and stnte whether
married or single. False registration
10 to be made punhlmhlo by Duo or
imprisonment.
Whitney &
...4
OUR ANNUAL SALE
n$
OF THE CELEBRATED "H0ME-MADE" BRAND OF
,, WILL BEGIN
Muslin Underwear
will begin
SATURDAY NEXT,
JANUARY 2nd
This ii a big bright busy store never sleeping but always for
ward inarching. ,.
Never before have we made such a handsome display of
Enameled Iron Beds
AS WE ARE SHOWING AT PRESENT.
Every one is far removed from the commonplaee. The
designs are different; the values are different, and our service is
different than you will find in the ordinary store.
To show you how different and better our values are, we ask
that you take note of the following prices:
It has large pillars, bent top tubes, brass spindles and both
bentiand straight filling rods. The height of head is 5ft, 2in., and
is enameled in white, blue, or green.
Coyne Furniture Co., Ltd.
Men and Boys9
Clothing
.Negligee Shirts and Neokwear
Fanoy Suspenders
Suitable for gifts; one pair in a
box
Yee Chan
PHONE 627.
. s ; f i
Get it for New Year!' .'A Bottle
Choice
I Perfume
Bensoi
Benson, Smith
HOTEL AND FORT STREETS,
Weekly Bulletin $1 Per Year
Marsh, Ltd.
$12.00
for a
Brass-Trimmed Bed
& Co.,
KING and BETHEL STS.
"1
iottle of
& Co., Ltd.,
' Ltd., t
IEETS.
i.
t
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. mi
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