New-York tribune., 1901-05-23
TALKS ON FINANCE
GIVES EXPERT VIEW OF COMMUTE
OF INTEREST PLAN BEFORE IN
DUSTRIAL COMMISSION
COMMITTEE.

Jacob H. schif, of Kuhn. Loeb & Co. gave the
subcommittee of the United States lndus'riai
Commission yesterday some expert testimony oI d
high order upon the community Of interest move
rnent in the course of which he said. among other
things:
The owners Of railroads are forced to take steps
10 protect themselves against the demoralzatI43Ii
and CONSEQUENT depression OF their proper.
brought about by anti-poolng legislation Now ~. II
the stockholders OF the road hold stocA i tbey
other not necessarily the controlling interest," me
Will not vote TO take any action to reduce 'nS nf
value Of their holdings. This Is a 'ohiii1
oHDo you think this community of interest Will VII
be carried s. 50 G Ear as TO 3Fns sThat T is too big
proposition 10 be the subject Of prophecEi. ,t Of
those OWING the capital Of the railroads to have
the railroads subject 10 supervisor Deons oa rights?
Al have no idea that there would be any 91JfSo S
comrte6 fi9n % v Sueh an the H dnanc.a interests
o-What was the reason of the recent rise ana
% Of N-orrberD Pacific stock in Wall street, A
7 sr,nnose reonle sold what they didn't have. and
when # was called for, had 10 pay to carry out
o-Is the capitalization Of the railroads & geneT.
any real Observation-Disclosures The market. the
investor quickly discounts any over-capitalization'
perienced eye. If capitalization Of $50 0oo 600 pays
soB opo 90 pays per cent the result is the same
and there IS no added burden on the public. which
ton rates The amount of American securities
held in Europe is extremly small and din, in that
fact is the greatest protection to the welfare and
prosperity of the United States at large Ameri-
money American
keep prices TO their natural level There never
VIII and never can be level Of prices not justified
by real values.
y9g esys in il GTnsrThT gon, bd of
that our form of government is adapted to any
such Capitalization Of mower.
O-WouId consolidation Of the trauscontinental
lines kin off competition? Al do not believe such
a consolidation will ever come-certainly not in
q strong and convincing argument for the
struction Of parallel line TO preserve competition.
Franklin Allen. secretary Of the American Silk
Association: Charles F Homer. H. a Dimmock.
Otto Andreae. jr.. and Jacob Wedemann. all promi-
nent the silk industry in the United States also
in the United States at sSo.olooO0 year He said
the tariff on silks could be reduced with safety
10 the American silk manufacturer and his
ployes Mr. Andreae said there practically
expectation Of American silk. The annual domestic
con7umption is about S75O0ooo0 Asked about the
social conditions and moral standing of his en-
ployes. Mr. Dimmock said: They ladies and
gentlemen every one. The ladies s. fine that
thirty OF them married in twenty months.
They just picked up the men they wanted them"
Mr.. Homer being asked. When viii the country
be ready take the tariff off silk? replied When
the American laborer is ready To work for Euro
pean wages" Asked about the conditions cf labor
tn the silk trade n Paterson. Y. j he said: IF
man wants art trouble IN Paterson he can
alWasS do il Paterson has larger conglomera-
tion u foreign anarchists and socialists than any
other town in this country. In other places you
can get some sound American common sense. de-
Gently in Paterson they tried blow UP my friend
Jacob Neidemann. and did XIII mis- foreman Mr.
Company, or Paterson. said his men individually
do more than twice what the in his brothers
mill in Switzerland do: The wages in Paterson are
five times the wages in Switzerland. The hearing
viii be continued tomorrow.