Clipping

[Fred W. Schneider III]

Thought you folks might like the attachments ... HTML, Word 95 or TEXT
... you should be able to open one of them.  

A wonderful editorial from a 1901 edition of the Lancaster New Era
telling us that rural trolley lines can be profitable and that promoters
should be honest!
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A few good laughs ... particularly the theme that there is money to be made running trolleys and the idea that promoters can be honest to investors.  


1901, Jan 28, Lanc. New Era: Editorial titled "TROLLEY ROADS AND THEIR CONSTRUCTION."  "Trolley roads are not only the popular means of locomotion and transportation with the masses of the people, but they are becoming an absolute necessity.  People see the advantages they offer and are demanding their construction on every hand.  This is no less the case with suburban districts than within cities.  Country towns everywhere want to be brought into more frequent, as well as cheaper, communication with the cities and larger towns.  All this is simply a natural movement along the lines of modern progress and social advancement and the trolley road must be regarded as an all-important factor in our commercial life.  ? It is also well know that under well-understood conditions and sound financial management there can hardly be a safer investment.  A well-settled and fairly prosperous country district is certain to make such lines a prudent investment, if the other required conditions are carefully kept in view and prudently followed.  That means there must be honest administration to begin with.  Such enterprises are rarely carried out by the money of a few men - the incorporaters for example.  The subscriptions of the entire community are invited and every known device is employed to secure them.  The promoters are generally well-known persons, and confidence in their honor and honesty is what leads men to give their money to the enterprise.  Under such conditions a scrupulous regard for the rights and interests of the investors should be the first consideration.  Economical construction, careful and economical management, the issues of as much stock or as many bonds as are required to build the road, and not one dollar more, these are the main elements of safety and success.  ? But is that the way the average trolley line has been built?  Not by a long shot!  The experience of one section of the country in modern financiering has been that of every other, with the result that the great majority of trolley roads have gone through bankruptcy and the reorganization process.  It is to be hoped that in the new era of combination that is dawning better methods of management will prevail and the stockholder receive greater consideration at the hands of managers and promoters."