New-York tribune., 1901-02-22
PRESIDENTS ON THE STAND
40 THOMAS. OF ERIE, GIVES A HARD
DIG Al INTERSTATE COMMISSION
DEFENDS COMMUNITY OF
INTEREST"

-Aov,,s T. Greene vice-pFesident az the Audit
..-,,onv was again witness before the Sub
--,rotttee on Transportation OF the Industrial
-,r,tssion yesterday. Before beginning his testi-
~ Mr. Greene gave out a statement correcting
.,,e of the reports of hts testimony OF the day
sa,e He denied that ne had advocated either
-. or Government ownership OF railroads or in
Ference IN their management
=, h,s testimony yesterday Mr. r.ene said that
=, rreseut prosperity OF the railroads was due
sah 70 the good times and better management
- believed that the had times In this country
.s,l,ed from the tremendous energy OF the people.
r,cb found a vent in overproduction. and that
'.sustral combinations would have wholesome
g., A panic like that Of 1893 would never again
occur
,.Droad and f. b. Thomas. president Of the Erie
o.n,oad were examined at the afternoon session.
ar Walter sad that his company bought some coal
rom independent operators. paying 90 per cent OF
~ rdewater selling price. The present price OF an
,rrso,te coal equitable one, and his company
wos receiving no complaints. The cost Of mining
"a was greater now than IL had been some years
go as the work now below the water line,
rbich made the risk greater and the profits less
The community OF interest" plan. according 10
a, ,vslter would benefit the producer and was
,,,,s I'm time 10 benefit the cOnsumer also. He
t5 that o. per cent Of the coal transported on his
,oos came from Independent operators. and dis
,.,nea any intention the part Of the Lehigh
,usv 10 get absolute control Of the anthracite re-
-,,,s through which tho road passes
AZ Thomas in his testimony. denied knowledge
81 .nv great combination az present gong on, ana
aid that II there such combination he
,ho,,eht he would know Of Il. The danger 20 the
-ubje was not in the community OF interest" plan
n,, IN unresrrained and excessive competition He
,.,s that In ffty or sixty wears the supply OF an
,.r,cite coal would be practically exhausted In al
l,nss except those belonging 10 the Reading Com
rsnv That company maintained that It's coal
would last for a hundred years
Tn speakinc ~ the Interstate Commerce Comms-
s,,n AR Thomas said that. n there were no prin-
.,,ls. involved as a means OF making quick money
"a would rather be a member OF that Commission
,hsn have license 70 loot the United States Treas
,rv II would he much easier and Infinitely safer.
y. s,d not see that the Commission had improved
me interstate commerce laws 20 any extent
There will be no session OF the subcommittee
.o-5av II has not vet been decided whether the
committee will remain in this city over Saturday
or 70 20 Washington. where IL will sit next week.
Mr. Harris who has acted chairman of the
sub-commlttee said yesterday that Mr.. Morgan
would probably not be called TO testify before the
committee al its hearings IN this city. He added;
The Commissioners, OF course, viii like 10 know
something about the Steel Trust when that comes
INTO existence. II would be OF no use 70 ask AE.
~ course not Investigate a thing that does NOT
yet exist
Mr. Harris said that probably Mr.. Carnegie and
Mr. Hil would be asked 20 testify before the Com
mission He thought n likely thst Mr.. Carnegie
and Mr. Fil would come before the Commission AZ
that Mr.. Morgsn's testimony also would he taken
IN that city