The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1902-04-02
UNDERWOOD is HERE
GIVES INTERESTING TALK ON
TRUSTS AND COMBINA-
TTONS
DEMAND REGULATES PRICE
Speaking of Rebates, He Said Courts
Injunction Would Have a SaIu-
tary Effect, and Rate Sit
uatiOn Improved.

+. ID. Underwood. president of the Erie
railroad, formerly general manager of the
500 road, arrived in the city yesterday.
lie will return to New York today. Per-
sonal business and a desire to attend the
Hill wedding in st. Paul today caused
him to visit the Twin Cities.
Mr.. Underwood spent the evening at the
West hotel, receiving calls from many
friends He found time to be interviewed,
and after interviewing the reporters for
some length consented to talk about the
great railroad merger.
THE merger said Mr.. Underwood, sis
not such a bad thing. l believe the peo-
pie and papers who are opposing it are
honest in their opposition. Their stand
reminds me of the position taken by the
people of New England duricg the early
sos when meetings TO discourage the
building Of railroads We're held. The
claim then made was that railroads would
discourage horse breeding, which was one
of the great industries of that country.
owners of railroads. can be trusted to
look Otter the commercial welfare of the
country through Which their roads run.
Commerce or transportation consists in
carrying the finished products from the
old to the new country and bringing back
the raw material. In the meantime the
people of both sections are cared for in
the matter of transportation.
1T does not matter where the owner
ship of the railroads rests. The policy of
building uD communities will continue.
1t is destiny.
This morning the 500 line took out
fifteen carloads of immigrants. 1 remem-
Der the time when we didn't have fifteen
carloads of passengers in three months.
Did we stop our trains? We did not. We
Kept them running, and now the railroad
is hauling loaded instead of empty cars.
IL = Ire dc IN1.ir,c ra
from Bremen and Antwerp for less money
than one can secure a decent months
board in Minneapolis? 1t isn't for the
privilege of carrying them. We want
them here to build up the country, and
the railroads. if for no more than selfish
interests, can be looked to be see to it
that the public is well supplied in the
transportation line"
Mr. Underwood was asked as to the
ship subsidy bill. He did not approve
of it as a whole.
We have devoted little attention to
shipping" said he. "a sailor draws
about $50 and the average man in the
United States can earn more money and
engage in a less strenuous occupation.
We have navigation laws which make it
impossible to register foreign bottoms,
and although a majority of the ships in
which American goods are carried fly
foreign flags, they are owned by Ameri-
cans. We had not recovered from the
GlASClS OI tie OINll war when JUL COLI-
merce was swept from the seas by pri-
Vateers.
Owners of vessels sought the protec-
ton of a nation which was not likely to
engage in a maritime war, and one, in
the event of war, could protect its COM
merce. When we can guarantee the pro-
lection of our shipping we will have a
large merchant fleet"
The great trusts did not disturb Mr..
Underwood. He believed that the law Of
supply and demand would regulate these
combinations A prohibitive price could
not be charged for steel or other commodi-
ties. This was an age of steel. He was
in Chicago recently and saw steel piles
driven to replace an old bridge Years
ago he saw wooden piles driven for this
purpose. The demand for the product
regulated the price of the stocks of these
combinations.
When asked about the injunction pro-
ceedings instituted against a number OF
railroads accused of violating the inter-
state commerce law in the matter of
granting rebates, he said he thought it
would have a salutary effect There was
no moral tUrpitude in violating the in
terstate commerce act, but it was a diff