New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-03-25

M ~
GEORGE r. BLANCHARD
| the Western lines which are reported 10 have
! given hasy notice of withdrawal from their vari-
| Gus organizations. 1t is by no means certain that
cases involving other associations would meet with
| similar treatment from tho Supreme Court as the
| Transmissouri Association Meanwhile the dis
membermen of these associations is likely to cause
| grave injury TO the railway business and wipe out
| all the benefits which have accrued from the OBJ
| servahce Of proper rate regulations. In several
| cases the precpitate determination yesterday by
| Western railroad managers to withdraw their lines
| from associations has been reconsidered ! know
! OF instances where notices of withdrawal have
! been countermanded. The enforcement of the
Transmissouri decision in all traffic associations
would bring the railway business OF the country TO
q condition little short OF chaotic. Stability OF
rates is necessary to shippers as to railroads.
| Definite prior information ms to the rates Is es-
sential 10 the successful conduct Of commerce and
| trade Merchants cannot afford TO wait until their
! trucks reach the freghtyards TO learn the cost
of TRANSFORMATION hut must have accurate knowl-
edge OF this factor before undertaking transactions
| This being so. it is needful to have some Joint
agreement TO create and insure stable conditions OF
traffic Granting that certain rates might work
an injury to trade IT is nevertheless manifest that
there is some point at which rates can bc declared
| 10 be 'reasonabl, within the meaning Of the law
Given this and the power Of enforcement ana regu-
lation all the interests involved should be salts
| fed Without this power there can be no guaran-
tee If the safety of investment in the railway
| business"
THE DECISION a SURPRISE.
| F. b. Thomas president of the Erie Railroad
said: THE decision is great surprise. Under the
| decision bankers or labor leaders can fix no rates
Of interest or prices of labor For instance, what
1 =
ment under tho dcisor? If the decision is as re
| ported il opens very gloomy outlook for the
| railroads Of the country. 1t will mean a survival
of the fttest and the absorption Of the weak by
the strong lines. If the railroads engage in war
fare the disasters that will follow will be untold
| I hope the decision is really not bad as 1t
seems"
EFFECT ON FOREIGNERS.
Thomas p. Fowler. president of the New-York.
Ontario and Western Railway. had the following
to say: THE decision would to mean annihi-
laton OF investments in railroad properties. For
| eigners will invest in American railroads II
| there is 10 be no protection for them under the
law A mos. unfortunate condition has been
created for which remedy is demanded"
II hope" said Aldace F. Walker. chairman Of
the Board of Directors of the Atchison Topeka
and Santa Fe Railway. there will be some RENE
dial legislation by Congress- but to take the
duct of the railroad business into the hands of the
Government, or 20 leave the roads without power
be equally subversive of the countrys interests, in
my opinion"
THE REAL QUESTION"
Henry Fink. president of the Norfolk and Wet
err Railroad--The railroads and newspapers .ap-
pear TO be going too fast in considering that the
traffic associations must disband BY reason Of the
decision just rendered. The real question is whether
all are in restraint OF commerce. decided in
the Transm!ssour case. The decision applies TO
one specific case. and it is not fair TO argue that
under It all traffic associations are Illegal Person
ally | don't think they Every railroad has
the right 10 endeavOT 10 get the best results from
the conduct Of It's own business. The Joint Traffic
Association will come before long before the
Supreme Court. involving rehearing of all the
points issue. and the exposition Of the law, made
then, may change the entire aspect OF the situd-
ton Without the traffic associations ii would be
utterly impossible to carry out the Interstate Com
merce law. and the Interstate Commerce Commits
sioners are the complanants in the present Joint
Traffic case The decision rendered Monday in the
Transmissouri case seems to me TO be based on
misunderstanding OF the facts. and If it were car
ried out against all the trat; associations 1t would
be a disaster business the extent of which could
not be calculated. No, only would the railroads
be unable 10 see five days ahead but, as pracuc-
ally all industries are dependent Oh transportation.
George c. CoppelI. chairman of the Board Of Di-
rectors OF the Denver and Rio Grande kallroad-
Joint Trafnc Association. do not see that the two
associations identical under the law II seems
ton is affected by the decision for 1t tried o TO
make an abcH wnnld le e hold water
William Butler Duncan, director of the Mobile
ana eea oreanizsuon If it is not do not think
1t will be dsbanded. so TO speak out that another
he made II Is necessary 10 have some rate agree
ment-necessary alike for the railroads ana the
Henry Clews-If railroads are finally compelled
TO give up their traffic agreements under the recent
Gur our decision.
out for themselves and stand upon iher ihdlNduaI
a. the end and then Will come the survival of The |
itest resulting in the powerful concerns gob9}ihhg
lions will grow out of il in tIme-that VIII n9t Ge
6q as GENES tRe ra G
III present time. under their harmonious ACTON
hne,nrss interests on a uniformly low basis of rates
The large shipper gets no advantage over the man
ono whicn Is II lVe-and-et-l1ve process. II Inc |
present methods to be broken up by legislative
acts supreme Court decisions II WI IL De n wan
ence OF a aaymntaFe over them by secret
and other underhand ways that they VIII De uilVeh
TO the wall
TO COME OUT RIGHT IN THE END.
Russell Sagc-It is bound to come out all right |
IN the end There is no question on that point |
prains and capital have ruled the world since the |
advent Of man, and natural laws have not been
changed because OF this one adverse decision No !
human law can prevent the combination OF inter
ests in social or business anairs; so1GaIied pro
,ective laws are not needed by the public, for no
assnciation or trust has yet been able TO operate
a. profit for any length OF time when II attempts
90 onnress the people. i think amendment to |
he prcsent law will be asked OF Congress whereby
oonrotinatons OF interests can be legally effected.
"a 80 the railroad properties In which am per
ssnnalIv Interested, do not yet know what VIII be
ira or whether they will withdraw from the
III IONS 10 which they now belong The directors
W., Ta' Situation carefully before taking action. The
lawyers viii also consider ne case In all U.s. bear,
ih ~, " time let the investing public keep cool
'ii Frank s. Bond. ylce;president OF the Chicago
c,aI statement from Chicago Yesterday that the
cl,i would take action In regard 10 the de-
coinpanS 10 Supreme Court relating to the Trans
missouri Freight Association until Inc semeraf
couhsel % ~ .'The railroads" he said. have not