Evening star., 1898-11-15
RA IL WAY POOL BILL
Petition for Its Passage to Be Presented
to Congress
influence on Business Intercsts-
Favor of the Law.

1t, asking for the passage of a pooling bill
Tor the benefit of the railroad companies
| throughout the country. These interests
| Will, IL Is understood. include not only the
owners OF the railway properties them
selves, but likewise of great number of
commercial bodies in various parts of the
| Crion, but more especially in the cities
of Baltimore Philadelphia and New York
1t is the general opinion among CONNER
| cial interests the country over that such an
| effort if within reasonable bounds, will
not be opposed by either the trading CEN
| terS or the people generally. 1t is believed
| that the interval between now and the in
| tToductlon of an amen6atory bill will wit
| ness such complete decentralization in
| transportation affairs that the country at
| large VIII acquiesce In any equitable change
| OF the law which promises to make steady
the unbalanced conditions
| PARTICULARLY pronounced, it Is thought,
Will thls sentiment be among all those ele-
| ments which are in anywiSe affected by
| transportation rates, to which uniformity
OF rates is absolutely essential to success
| full trading.
Many of the men best informed in COM
mercial circles claim that an allowance of
| pooling among railroads would inure TO
| the benefit of all tradesmen alike, because
1t would establish a uniformity in rates
| Suffclently stable to be used as a basis
in calculations. In order to make this
pooling beneficial. however, it will be nee
| essary to subject it to rigid restrictions;
such, in fact, as will check all efforts to
| return to the alleged abuses which be-
| came the immediate cause of the inter-
state commerce law.
Views of "a Railroad Man.
One of the most prominent railroad men
| in the United States, who is also high Of
| icial in one of the great trunk lines, said:
| while the Trunk Line Association has
| not done very much in securing the objects
for which it was organized, 1 know. as
business man, of enormous benefits that
| have accrued through it not alone to the
| railroads, but to shippers and manufactur
| ers. These benefits enjoyed nearly up
| to the time of the Supreme Court decision
in the transmissouri case was announced.
| 'Of course. when that decision was made
| known 1t weakened our influence, and rail-
| road employees became imbued with the
| idea We had no right to control their ac-
| ton. AS a matter of fact. ever since that
| time rates all over the country on every
| important item of railroad traffic have been
demoraliZed. This has been particularly
| the case with the rates of transportation
of the enormous volume of agricultural
| products shipped to the eastern cities and
| to the seaboard for export.
| The absence of profit or minimum of
! profit, If at any time in the last few years
there has been profit on the volume of
traffic carried by the railroads to the sea-
| board for export, has very much embar
rassad the railroad companies which have
not found it possible to make up out Of
their local traffic for the losses sustained in
handling the through export traffic And il
is unfair, not to say unjust, that railroad
| companies should be permitted to continue
to cut each others throats hy handling ex-
port traffic at rates be'ow cost, with the ev
peetation of making up their losses. or
provide means to pay interest and fixed
charges. out of local traffic Each particu-
lar ira ffic. whether local or through. should
be made to bear its proper part of the
service rendered in moving it.
Need of Governing Tribunal.
1T seems impossible for railroad compa-
MES to make necessary and proper ad-
ilstment of their charges without some
legal authority or association tribunal
which should have for its object the pre-
ventlcn of ruinOusly low rates by competing
| lines on the enormous volume of business
| seeking the eastern seaboard for export
when it must be apparent that losses occur
| ring in this wav must be made up from
| every other source.
| Such a condition of affairs could no.
take place in England. because there is
respect for vested rights there. com
pany cOud d not get charter there ii j.
were shown that it would seriously inter
fere with vested rights. Here there is nc
protection for such rights. The more
man show that he wants to cut the
other fellows rates the more rapid he is in
| getting his authority.
The only relief that, | suppose, can
/ expect IS IN the form OF a pooilng law. oo-
Grated in conjunction with under the
narvision of the interstate commerce com
mission. In the meantime there seems mC
| doubt that still greater demora ization in
rates will enSue, as there is nothing to
| prevent !4rgc shinDers from making con
| tracts considerable time ahead at cut
| rates. AS far as pooling is concerned. pool
| such as have existed within nv knowed@e
| and experience have never completely car
ried out the objects and intentions of thai-
| makers. That is to say, they have never
| entirely done away with competition. Al
| their best. they have offered but measure
| of protection.
"A pool. properly framed and put under
| the supervision Of the interstate commerce
| "ofnr1SSi0n, would serve to protect not on1v
| the railroad companies themselves. but tht
| "uh'iC in equal proportion. And there car
| he no doubt whatever but what such a law
| would do more to strengthen the value
| If AN erican securities of al kinds tha'
| lnything I can imagine