Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1897-03-25
KNOCKOUT PUNCH
The One Given Railway Pools bv
the Supreme Court.
BIG COMBINE Is NOT YET DEAD.

hut ingalls, Says It Might - wel Give Tn
tho Ghost and Proposes legislation
Russell Sage Talks Hopefully and De.
elsres Natural Laws Stronger Than uu,
man Lawmakers-St0ck Exchange Men
Believe the Blow Il Deadly.
New York. March 25.-No action has
yet been taken by the Joint Traffic as
ISOLATION growing out of the decision of
the United States supreme court in the
Trans Missouri case. James G. Carter
one OF the counsel of the association.
notified Commissioner Blanchard that
the full text Of the decision had not
arrived. and until it should have been
carefully considered he would not wish
TO advise action. The board of man.
ayers met yesterday and attended to
routine business. The question of dis
solving the association was not dis.
cussed. The decision occupied almost
exclusively the attention of the dealers
In stocks and bonds yesterday. The
tnere was good ground for the appre-
hension expressed of the effects upon
values Of railroad properties of the de-
cisfon were obvious from the character
Of the selling.
No Agreement Can Stand the Test.
Judging from the, reports that were
Kept in circulation by the short interest
one would have supposed that a whole
sale disruption Of all agreements tc
maintain rates had occurred without
the parties even waiting to see the text
OF the supreme courts decision. and
that all railroads were entering forth
with upon disastrous war of rate cut
ting. The Joint Traffic association. on
the contrary, has determined to main
tain Its existence pending ehe appeal
OF the case to test its legality, which now
stands in its favor by decision of a cir
cult court. There is it:tle confidence
expressed that this decision will be sus-
tained by the supreme court on appeal
The opinion seems to be general that
neither the Joint Traffic association nor
any other railroad agreement to main
tain rates and divide traffic can stand
the test or a law suit under this decis-
ion.
Calls It q Four to Five Decision.
Russell Sage said regarding the decision
tnat four to five decision was not
after all. 1T is bound to come
out all right in the end" continued
sage. There is no question on that
point Brains and capital have ruled
the world since the advent of man. and
natural laws have not been changed be-
'ause of this one adverse decision. No hu-
nan law can prevent the combination
u interests in social or business affairs.
'o-called protective laws are not needed
'y the public, for no association or trust
las yet been able to operate at q profit
Tor any length of time when it at
empted to oppress the people.
Advises Everybody TO Keep Cool.
4 think an amendment to the present
aw will be asked of congress, whereby
Of interests can be legally
As to the railroad properties
n which am personally interested. I |
10 not yet know what will be done. or |
whether they will withdraw from the
associations to which they belong. The
directors will meet in due course of |
lime and will talk over the situation
before taking action. The
awyers will also consider the case In
Ill its bearings and evolve some plan
u future procedure. In tie meantime
ct the investing public keep COOL"