Omaha daily bee., 1899-10-17
BIG FOUR PRESIDENT TALKS
ingalls, Announces His Confidence in
Interstate Commerce Com
mission.

WASHINGTON, Oct. 16.-The Industrial
commission today heard the testimony of
President NJ. E. ingalls, OF the Big Four
and the Chesapeake & Ohio Railroad COM
panies, on the transportation subject. and OF
William T. Graham of Chicago, vice presi-
dent Of the American Tin Plate company
and director Of the Federal Steel company
and the Steel Hoop company as a part of
the inquiry concerning trusts
Mr.. ingalls, announced his confidence in
the Interstate Commerce commission as use
full to the railroads, He said he was willing
to trust the commission to large extent
in the regulation of rates, and would be
willing that its decisions should regulate
unpassed upon by a United States court
He wanted the government to aid the rail-
roads in the maintenance OF rates, saying
that this power should go with the power
to regulate the roads He said there was
less discrimination on the part OF roads
now than during dull times, but he feared
that with change for the worse in the
foreign conditions there would be a return
to the old system of determinations to get
freight business.
In view of the fact that one-tenth of the
population of the country is directly depend
ent for livelihood upon the railroads he
thought the commission should give the
question of protecting the roads against one
another in the matter of rates a great deal
of attention.
He wanted the ant-pooling feature of the
interstate commerce law abolished and
would go farther and ask for law enabling
the railroads to make rate agreements, their
maintenance to be controlled by the courts
Mr.. ingalls, also advocated the enforced
publication of all freight rates, saying that
he would be willing also to submit to the
inspection of the books of the railroad COM
panies as the books at national banks are
now inspected He thought the criminal
feature of the laws had been abolished
He also favored the abolition of the pass
system and the ticket brokerage system.
With the proper laws for the regulation Of
rates so as to insure steady incomes to the
roads, Mr.. ingalls, said, he would favor
a system of profits sharing He thought
such system would insure better service
by employees and be more equitable, but felt
that it would not be satisfactory in the
absence of a system guaranteeing stability.
Mr.. Graham, the second witness of the
day, said that the capital stock of the Amer
| lean Tin Plate company was 500, 900, 900, Of
which amount $1S,OOO.OOO was preferred
were about forty old companies in the COM
| bination. When he went into the consoli-
dated company he was told that he could
have only a certain amount of stock and
| he was given 800 worth of each kind of
stock for each S1oO of the cash valuation
of his old plant Since the consolidation
had been effected prices had advanced from
$2.75 to $4.65 per box, but this advance
did not more than cover the advance in the
prices of steel, pig tin and other ingredients
| and the price of labor. Indeed the profits
| were not so large as formerly. He said
| that there was no restriction in contracts
| with buyers requiring them to buy from
the American company only. No preferences
| were given to one jobber over another, and
| no sales were made to retailers. Asked
| concerning the effect of the tariff upon
| the tin plate industry he said it had built
| it I'D and the abolition of tariff would kill
| it absolutely. .f
at is understood you. have organized
I your combine without the tariff" asked
Colonel Livingstone. To this question the
| witness replied: "There would have been
nothing to organize"
He said that regular dividends had been
paid on the preferred stock, but that none
had been paid on the common stock He
thought, however, that the company was
earning sufficient money to pay DIVIDENDS
on this stock The workmen would be paid
| two or three times as much as the same
workmen were paid in Wales before coming
to this country.
F. S. Wheeler, treasurer Of the American
Tin Plate company, also made brief state
ment concerning the organization OF that
company. corroborating Mr.. Graham's state
ment He said he knew of no contracts
for determinations against other manufac'
turers. He said that the common STOCK
of the company represented the price OF the
good will Of the different companies whlcf