The morning call. [volume] (San Francisco [Calif.]) 1878-1895, 1895-01-30
CHANDLER ON POOLING
Power Given by Congress to
the Railroad.
CAN ALL GET TOGETHER,
Making the Most Powerful Combina.
ton Ever Known.
COMPETITION WILL BIZ no MORE.
And the Wages Of LabOrers Will Be
Absolutely at the Mercy Of
the Monopoly.

WASHINGTON, Jan. 29.-In the Senate to-
resolution
ResotUed, That the Interstate Commerce Com
mission be directed to send to the Senate q
statement prepared from the later returns to
the office, showing the capitalization of each
and all of the eight principal railway lines
transporting passengers and merchandise
between Chicago and the Atlantic seaboard,
showing also the proportion which such CAPT.
talization bears to the total capitalization of
the railroads of the United States, and also in
Guiding the last years aggregate gross and
net income of said lines, compared with the
gross and net incomes of all the railroads of
the United States.
Chandler said this information was
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: 1.-THE authority given by this
paragraph is stupendous Under such
authority all the railroads of the country
may pool all their gross and net earnings
from all sources. They may virtually
unite or form one company or partnership
with capitalization equal to that existing
June 80, 1893, of $11 SOC, 235, 410. The gross
earnings of this were for the year then
ending 81, 800, 751, 874. and the net income,
after paying fixed charges, was Sill ,O5S,
034. They may agree to commit the dis
position of this gross or net income to a
managing board of ten or even of three
officers of the various roads.
"This board can be given authority and
discretion to pay out for the purpose of
controlling Legislatures, State or national,
or other public officers, or for any other
purposes, such portions as they may see
fit of the gross or net earnings of this gigan-
tic partnership, and afterward to divide
the remainder of the net earnings among
the various companies according to arbi-
trary fixed proportions of 100 per cent of
the whole. The profits of railroad man
agement depend largely upon the rate of
wages paid.
"The companies may embody in their
partnership agreement a schedule of wages
for all classes of railroad operatives, to be
maintained upon all railroads in the
country. In short, this eleven thousand
million partnership is given unlimited
power of railway consolidation; all railroad
competition anywheze in the country is
abolished by act of congress; rates of fare
and freights for the whole country may be
fixed by one managing body.
"In view of the attempt thus made to Gre
ate an eleven thousand million road
monopoly with unlimited powers to fix
railroad rates and the wages of railroad
laborers, 1 feel it to be my duty to en-.
deavor to secure certain amendments"
The Senator then read the amendment
he offered in committee and which he has
since proposed. He then said he could
see no reason for the rejection of the
amendment, holding that if it is intended
that the Interstate Commerce Commission
shall make an investigation, the promise
is fraud and deception on the people.