The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-01-30
SENATE PROCEEDINGS.


Railways Scored by Chandler.
WASHINGTON, Jan. % President Cleve-
lands financial me ssaee has again started
the eddies and currents of sentiment on
the financial question in the Senate. While
this has not yet crystallized into definite
action several incidents occurred in the
Senate to-day which Indicated general ten
denotes Mr.. Henderson presented COM
promise plan. The Senator emphasized the
need of concession and compromise in "a
vigorous speech, urging Senator's to give
and take in order that some common ground
for meeting the financial emergency might
be assured. In replying, Mr.. Teller made
the significant declaration that no such COM
promise legislation could be effected at this
session of Congress. Among the measures
passed during the day were those for the
incorporation of the national association OF
florists and for the sale of interchangeable
mileage tickets TO commercial travellers,
knows as the commercial travellers bill.
Most of the day was given to the bankruptcy
bill, Mr.. Mitchell offering substitute on
the lines of the socalled Torrey bankruptcy
bill and Mr.. George speaking at length in
explanation of the bill.
The credentials of Mr.. Cullom. of Illinois.
for the term beginning March next were
presented at the opening of the Senate by
his colleague, Mr.. Palmer. The credentials
of William III. Sewell, of New Jersey, were
presented by Mr.. Mcpherson. who viii be
succeeded by Mr.. Sewell
Mr. Hill presented a resolution from the
New York Chamber of Commerce, passed
with but one dissenting vote. heart
lily approving the financial coprse of the
President as given in his message yesterday
and urging Congress TO aid n sustaining
the governments integrity and in meeting
the emergency by an issue of bonds a. sug-
gested by the executive. The resolution
adds that while monetary reform IS requisite
yet it should not be undertaken until recon-
mended by thoroughly qualified conmis-
sion.
finance, presented compilation Of all laws
bearing on the issue of paper money 1t
ordered printed as part OF the
financial literature now being prepared
The financial emergency was brought 10
the front when Mr. Henderson presented
it by stating that some compromise was
essential. There must be an adjustment
The resolution directs the committee on
finance to prepare a measure on the lines
CONCENTRATES a. gold and silver
Of $200,000,ooo each. 1t is printed else
where. Mr. Henderson asked immediate
consideration Of the resolution.
Mr. Teller said the resolution was rather
obseured BY the lecture me h Mr
Teller. with great emphasis. I'VE had 4
President who would take twelve men IN
a room-twelve men who are known and
recognized in financial circies-and say 70
them: Gentlemen, the. government will
make the payments IN silver NOW. I you
manic New York does not want panic.
The run on gold would stop in an hour.
Mr.. Manderson's resolution was referred
TO the finance committee to be considered.
! together with other plans
CHANDLER DENOUNCES RAILWAYS.
Mr. Chandler then offered the following
resolution:
Resolved, That the Interstate-commerce
Commission be directed to send to the Sen
ate a statement prepared from the latest
showing the capitalization OF all and each
| of the eight principal railway lines trans
| porting passengers and merchandise be-
| tween Chicago and the Atlantic seaboard:
| showing, also, the proportion which such
capitalization bears to the total capitaliza-
ton of railroads of the United States. and
| including for the last year statement
] OF the aggregate gross and net income OF
| said lines, also compared with the gross
| and net income of all the railroads or the
| United States"
necessary to understand the effect of the
| bill recently reported from the committee
on interstate commerce. He quoted the
| section of the bill allowing pooling. and
| continued. The authority given by this
| paragraph lis stupenGous. Under such
| thority all the railroads OF the country
| from all sources. They may virtually unite
or form one company or partnership with
| a capitalization equal TO that existing June
30. 1888. of $l050S, 90. $40: the gross EARNINGS
| of which were for the Year then ending
/ 1890. Isl. S74. and the net ircofne after pay
! ing fixed charges, was Sill ,auA.Sef. They
may agree to commit the management ana
disposition of this gross or net income 10
| a managing board OF ten. or even OF three
/ officers OF the various roads This board
pay out for the purpose az controlling leg
/ islatures. State or NATIONAL or other public