Bismarck daily tribune. [volume] (Bismarck, Dakota [N.D.]) 1881-1916, 1902-10-08
WHITE OPENS CAMPAIGN.
Governor White Opens Campaign in
Barnes With Speech in Valley +
City.
Governors Position on Merger Ex-
plained and His Critics Eff.
fectually Answered. .
Believes Solution of Problem of Reg
ulating Railroads Rests With
Congress Of U. S.

uAokio& ANaHAOdNS NCSIS w IIA
Congress Of U. S.
Governor White made the first
speech CT the campaign at Valley City
last night, his address being devoted
exclusively to the matter of railroads.
In introduction, the governor stated
that his position had been criticised
more severely by republican papers
than by democratic. and that in ex-
planning his position he did SO more
to justify himself with his friends than
to meet any opposition of the demo-
Gratis. After stating the extent to
which railroad consolidation had pro-
gressed in the past few years. Cover
nor White said:
II have been often asked why l did
not attend the meeting Of the COVER
nors at Helena When my attention
was called to the organization of the
Northern Securities Company and I
accepted the invitation to the meeting,
had given this matter very little con-
sideration. My investigation, how
ever, soon brought me to the belief
that the consolidation had already
been practically accomplished. If the
law permitted any man to own one
share in the Great Northern and also
one share in the Northern Pacific he
could own as many shares of each as
he. could buy and pay for and il he
owned controlling interest in both
there would be very little competition
between them and it would make NO
difference whether they were man
aged separately or together. This
seemed to me to be the whole case in
question. Mr.. Hill and his associ-
ates had bought and owned a majority
of the stock in each one Of these
roads. You couldn't take it away
from them and you couldn't prevent
their selling what they owned and you
couldn't take it away from the man
who bought from them. If each and
every individual stockholder sold his
stock to John Doe," his right to own
it in it's entirety and to exercise every
right that pertains to ownership can
not. it seems to me, be questioned.
Railway stock is private personal
property subject to the laws of con-
tract and SALE
1t became evident, too that no joint
action by the northwestern states
could be brought to dissolve the Sc
curities Company. Each state must
act alone and bring such action under
the laws of the state as thought prop
er. l was not long in arriving at the
determination that so far as the state
of North Dakota was concerned, as the
executive l should not cause an action
to be brought against this COMPANY
I did not believe that any of the ac-
tions proposed. and which were after
wards, commenced by the states OF
and Washington would ac-
complish anything. and after quite an
extended investigation am more firm
ly convinced that the end sought will |
not be accomplished. You can't COM
pei competition by law. You may
compel separate management but un-
der the law you can not compel separ-
ate ownership. Our state has lost |
by inaction. Every right we
had we still have. Our case has been
in no way prejudiced. We also have |
the advantage Of mature consideration
and of the experience of Minnesota
and could without doubt at least get
our case into court There was no
requiring precipitate ac-
ton. Either the consolidation was
legal Or it was not legal and must in
any case be determined by the slow
processes of the court. If the state
wants a lawsuit with the Securities
Company the legislature, fresh from
the people. and soon to meet, can au-
thorize any action that seems to them
appropriate and provide means for
carrying it to determination. And
IN withdrawing my acceptance Of the
invitation to the conference was led
70 do SO under the belief that the in
terests Of this state would be best sub
served by my refraining from taking
any action whatever in the matter un-
IL it had been more thoroughly di-
sested b., myself and by the people of
his state.
\ don't blame ST. Paul and Mime
apolis and the Pacific Coast points for
using every effort in their power to
retain competition as regulator 1t