Again I welcome you to our city, again I wish to express to you, on behalf of its citizens, their appreciation of the value of your assemblage, and of your exhibit of the great advance that has been made in the most useful of all the contributions of this age to man's comfort and convenience. [Applause.]

"CORPORATIONS."

RESPONDED TO BY MR. R. DUDLEY FRAYSER.

The President: The next toast is:

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Corporations- Their duties to the people, and the people's indebtedness to them."

This toast was to have been responded to by the Hon. G. Hilton Scribner, of New York. As we were about to gather at the Banquet we received notice that he had been detained, and could not be present; but Mr. Frayser, with a courage that is gratifying and consoling, has consented to take his place, and give us a thoroughly impromptu talk upon this important toast.

MR. FRAYSER: Mr. President, Ladies and Gentlemen-I can hardly imagine why I was selected to speak upon Corporations, unless it be for the reason that a year ago, at the meeting of our Association, I told my brother members that I came to be the lawyer for one of the street-railroads in Memphis. I liked the corporation pretty well, and became so enamored of its assets that soon I got a little stock in it, and very soon, with my friends, got all the stock nearly, and eventually became President of the road. [Laughter.] I suppose that is the reason why I am selected to respond to this toast.

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Well, you are all aware that corporations are called "greedy," voracious," "soulless,' 'grinding." But when we reason together as sensible people, we wonder at the ignorance of those who are not willing to learn, and verily these are the only ones that call corporations such wicked and ugly names. When we come seriously to think about it, we all must see that corporations are really individuals in a body that get together the great aggregate of capital that accomplishes such great wonders in our glorious country. How could you, my brother members, ladies and guests, have been here to-night but for the aid of corporations: what brought you in palatial cars and through beautiful dales, and past picture scenes of verdure and beauty but corporations. How came we on our journey here to sit on cushioned seats and in handsomely upholstered sleepers, gazing through beautiful plate glass windows, looking upon green meadows as we swiftly passed, taking in with eager eyes the glories of nature as we journeyed over hills and through valleys and dales, beautiful vistas of flowing grass which looked so smooth and level, and indeed seemed as if our Maker had stooped from heaven and smoothed it over that we might gaze upon it with special admiration? What brought us here? What brought this Convention together around these banquet tables? What brought us amongst fair women and gallant men to-night except the aggregate brains of men and money that was put into corporations and aided in forming and building these railroads which stretch their iron arms into every part of this marvelous land? It was corporations that accomplished all these things. [Applause.]

A few days ago when I passed over that beautiful and grand structure that connects Brooklyn with New York City, and spans the East River, I thought to myself, where could the means have been raised and the great amount of capital secured to erect this great monument of skill and ingenuity, except it be through corporate instrumentality? I have often wondered what would have been the condition of the far West this day if we had not reached that wonderland by means of our railroads, and then the thought arises and the question: What brought that great country into existence and peopled it? What could have done it but these civilizing and enterprising railroads, by the aggregation of capital, and piercing their way through new territory and building up great towns and cities alongside of their lines. All this was done by the aid of corporations, and all railroads are incorporated that I know of. I believe the most gigantic scheme which ever started, and which embodies the corporate idea in the wisest uses and workings, is the great National Banking system of this country, which has carried this country through our terrible war, and successfully through so many periods of depression. At the close of our late war between the States, when everything seemed to be dead, when there was no money to move the wheels of commerce, when banks were suspending all over this country, when money was wanting to meet the necessities of trade, it was under the idea of corporate formation, the incorporation of banks, that all our National banks were established throughout this land, and then prosperity bloomed and blossomed, and the grand and far-reaching idea under which these corporations were put into existence is, in my opinion, the greatest financial scheme that has ever been conceived by man. This one great feat of incorporation should make the name of "Corporation" a loved name to us all, and especially to every American citizen. [Applause.]

Corporations are created by the Legislatures of the States and by acts of the Congress of the United States, and under the law creating them they are allowed to do no wrong. They cannot do anything except it be according to the laws of the State or according to the laws of the United States, and in all the performance under the acts in all things that corporations are authorized to do, they are executed under the laws of the particular State or under the laws of the United States. It is true that corporations are frequently blamed for acts that are committed under the name of the corporation; but whenever that is done, I will say to those who do not know the workings of the corporation, that the consequences of those acts might be brought against the individual who executed that part of the duty of the corporation and not against the body politic or corporation itself. The corporation created by law sometimes has some bad officers, but that is not the fault of the law creating it. Corporations sometimes attempt to accomplish some great things and fail in their attempt, but their intentions are good, but, like good intentioned individuals who fail in great undertakings, should be consoled with, not needlessly censured. The street-railroad corporations sometimes fail to come on time with their cars when the ladies desire to go shopping, but if the ladies did but know it or could find out the reason, they would not demur. It might be that some truck had broken down on the line, or it might be that the car was delayed by some fire engine, which had stretched its line of hose across the track at a big fire, and all the

cars were stopped, or it might be one of the horses had had a sun-stroke and died on the track. All these mishaps frequently occur. The ladies, if they knew these things, would not be so quick to find fault with the corporations. The ladies have frequently, no doubt, called their servant to stop a car when it came along, and the car was away behind time and did not come along as soon as desired, but if they knew the causes (and there are many) they would not be so harsh with corporations. The ladies should not complain; the officers of the corporation are not to blame; these are things that cannot be provided against. In the best regulated families accidents occur, and they will happen until the world ends. The officers of the corporations should not be hung for these things; they ought not to be put in jail either, as I have heard some of our patrons say, and our charters ought not to be taken away from us for these awful shortcomings, as I have heard some of the municipal officers say. We, street railroad companies, have all sorts of complaints thrown in our faces, and are charged with great monstrosities; but it is not on account of the corporations, as I say; it is on account of some bad employees that we have, who have done some wrong or committed some error; and the corporation must suffer for their neglect of duty. In spite of all this talk against corporations, I wish to say we are your friends, and are not to blame for the many annoyances you so often suffer. We do our best, and whenever we fail to do all that we undertake to do, the failure is not to be charged to the neglect of the corporation, but is owing to some of the employees of the corporation who fail to perform their particular duties.

I am to-night glad to respond to the toast" Corporations," simply because I think it the duty of all street-railroad men to do whatever they can to accommodate the public. But some one will say, "Oh, that you will always do— when you get the nickel," intimating we must have the nickel before we attempt to accommodate the public. This reflection does us great injustice.

I passed throught Cincinnati not long ago, and I saw that the street-car companies there gave all their employees a day of their own, without loss of pay, free to go to the Exposition then open, to have a good time. I believe a great many people would say by this act that the street-railroad corporation did a good and generous deed. I have heard my brother Holmes state that his corporation in Chicago has a library at each depot, fitted out with good books and the latest papers, and that the Company invites all the street-car employees to go to these libraries and spend their leisure hours in reading and gathering wisdom and devoting their time to useful purposes, that they might otherwise spend in saloons and other wicked places in the city. You see that the street-car corporations do some good and merit some praise at least. All corporations that are created by the States and the United States are created for the purpose of doing good; and these corporations that are created by these Governments are created and chartered by Governments that intend they shall do no wrong. Going back to the English Government, the King can do no wrong, and corporations are brought into existence by our respective States and the United States not to do wrong, but to do good.

I cannot imagine such a thing as a greedy" corporation, a "voracious"

corporation, a 'soulless" corporation, a "grinding" corporation or a "cruel " corporation, but I might be excused if I should here, by way of parenthesis, say that some corporations have cruel officers, for I might charge it is exhibited here to-night by my brother Holmes, imposing on me the burden of responding to this toast, and having such desultory remarks as I have made, inflicted upon you. But seriously, my dear brother members of this Association, ladies and gentlemen, I am glad of the opportunity to appear before you to-night and greet you in this great world-renowned city of Washington. The history of this city, the deeds of great and honored men who have lived here, the scenes of eloquent and learned debates in legislative halls, of horrible and deplorable tragedies and grim-visaged war, all crowd upon us and make us wonder-yet fixed in admiration, this day we are enthused with patriotic fire and we are proud of our great Capital and its history. To be here surrounded as we are by all the traditions and landmarks of a free country, our inmost patriotism is aroused, and the objects around us give us the inspiration of freemen and make us feel the pride of American citizens, who have performed well for their country's good and future welfare. I thank you, ladies and gentlemen, for your kind attention. [Applause.]

THE PRESS." RESPONDED TO BY MR. STILSON HUTCHINS.

The President: We all take an interest in the subject of the next toast:

"The Press. The greatest blessing, and the deadliest bane of modern society."

Mr. Stilson Hutchins, of Washington, will respond :

MR. HUTCHINS: Mr. President, Ladies and Gentlemen-I am sure that your Committee has made a most infelicitous selection in appointing me to respond to this toast; and I am very sorry, indeed, that I did not have the good sense (perhaps you gentlemen who represent the street-car lines of the far East would call it gumption") to imitate, not the gentleman who last spoke, but the gentleman who last declined to speak, by pleading inability to reach the place.

If I had had the 'gumption," or good sense to plead inability to reach the hotel on this occasion, I am sure my reputation would have gained by my absence, and your pleasure would have been augmented. [Laughter.] I do not think that I am a fit and proper person to respond to "The Press" for many reasons, and the first, and perhaps the best one is that I belong to it. I am a good deal like Sydney Smith, who wrote a stinging review of a book, and when asked if he had read the book, said he had not; for how could he have criticised impartially a book that he had been prejudiced against, or for, by reading. [Laughter.]

I belong to the press, and am therefore an interested party. I know a great deal about it, so much indeed that it is not possible for me to represent it impartially.

I think it was somewhere in Greece (I do not intend to ring in any classical

"' chestnuts upon you), but I think it was in Greece that a street lounger was asked to give his opinion of a statue that was being exhibited previous to its erection at a great altitude, for the gratification of the populace. The critic said it was too broad in its shoulders, its nose was too long, its eyes too wide, the ears were huge, and so he went on finding a great many faults, and picking out a flaw here and a flaw there, not for a moment considering the combined merits of the work, until the artist came forward and observed that that was not the place from which to view it; that the statue was intended for a high elevation, and when it was placed in proper position all its large lines and seeming disproportions would blend harmoniously and result in an effect pleasing to the

eye.

So with the press; a man must stand a great way off from a newspaper to view it impartially and fairly. If you look at it too closely, you think it is “the bane" of civilization; but if you view it at a proper distance, and not merely to criticise and find fault, you will think it something of a 'blessing."

Ladies and Gentlemen: If you will stop to reflect for one moment, and I make the time short so as not to put upon you any severe hardship, if you will stop to reflect for a moment, you will see that a great responsibility rests upon the press of this Republic. In the first place, the United States within the last fifty years have forged ahead with such strides in every path of material and physical progress, that it is very difficult for an elementary art or institution to keep up with it. Within my lifetime (perhaps I had better put in a qualifying clause, if I may be allowed to,) not quite within my lifetime, but not many more years than it comprises, we have seen steam, electricity, and other cognate inventions brought to a point of perfection that even the oldest and most daring Biblical prophet would hardly have ventured to predict, and yet the press has been obliged to keep pace with all this progress. I think, ladies and gentlemen, if you will estimate the press in its proper relations to society, to the public and the public's interests, as well as to the public good, you will be obliged to admit there is no particular feature of this great Republic or its institutions that has advanced so far and so rapidly, and yet is so little open to real and honest objection, as the newspaper press of this country. If you will compare the New York papers-I will not name any one of them, because there are probably numbers of you who hate them all-but if you will compare any New York paper with the newspaper which Benjamin Franklin published in the city of Boston, or attempted to publish, but was driven away from, or the paper which he published in Philadelphia ten or fifteen years later, I think you will be obliged to admit that nowhere in the realm of civilization, with all of the progress in science, the arts, in literature, mechanics, or general unclassified development, has any greater advance been made than you see demonstrated in that department of our fierce, every-day life, the newspaper, as represented by the press of New York and other large cities. [Applause.]

I blush to confess it, and yet I must, that we who conduct the daily newspapers of this country have our infirmities. We are not born great or wise; we are obliged to achieve both. We are obliged sometimes, upon fifteen minutes' notice, to frame and express opinions upon subjects which require from good lawyers a full year of consideration. And