Спрут: Калифорнийская история
Chapter II
Derrick?”
“TheBoardofRailroadCommissionerswasbought,”remarkedMagnussharply,akeen,briskflashglintinginhiseye.
“Itwaspartofthegame,”putinHarran,“fortheRailroadCommissiontocutratestoaridiculousfigure,farbelowaREASONABLEfigure,justsothatitWOULDbeconfiscation.WhetherUlsteenisatoolofyoursornot,hehadtoputtheratesbacktowhattheywereoriginally.”
“Ifyouenforcedthoserates,Mr.Harran,”returnedS.Behrmancalmly,“wewouldn’tbeabletoearnsufficientmoneytomeetoperatingexpensesorfixedcharges,tosaynothingofasurplusleftovertopaydividends——”
“TellmewhentheP.andS.W.everpaiddividends.”
“Thelowestrates,”continuedS.Behrman,“thatthelegislaturecanestablishmustbesuchaswillsecureusafairinterestonourinvestment.”
“Well,what’syourstandard?Come,let’shearit.Whoistosaywhat’safairrate?Therailroadhasitsownnotionsoffairnesssometimes.”
“ThelawsoftheState,”returnedS.Behrman,“fixtherateofinterestatsevenpercent.That’sagoodenoughstandardforus.Thereisnoreason,Mr.Harran,whyadollarinvestedinarailroadshouldnotearnasmuchasadollarrepresentedbyapromissorynote—sevenpercent.Byapplyingyourscheduleofrateswewouldnotearnacent;wewouldbebankrupt.”
“Interestonyourinvestment!”criedHarran,furious.“It’sfinetotalkaboutfairinterest.IknowandyouknowthatthetotalearningsoftheP.andS.W.
