Evening journal., 1903-04-13
MERGER DECISION
GREAT BLESSING
President Williams Regards
1t a Good Thing for In
dependent Roads
CONGRATULATIONS FOR Mr. KNOX


Richmond, Va, April 13.-The deci-
sion of the United States Circuit Court
OF Appeals in the Northern Securities
case. Mr.. John Shelton Williams, pres
ident of the Seaboard Air Line Rail
way System, says he regards as one
OF the greatest blessings and the
brightest promises for railroad ana
general business that the country
could have. In an interview with a
representative Of the Associated Press
when asked his opinion OF the deer
sion, Mr.. Williams said:
Il am satisfied that when they come
TO study the matter carefully railroad
men and thinking men of all classes,
not only in the South, but in the coun-
try generally, except those whose am
bitious schemes are directly hindered,
will be united in the feeling that the
decision is sound law, good sense and
for the advantage of all legitimate IN
terests and for the country's welfare.
From a legal standpoint It accords
with the opinions of many OF the
ablest lawyers OF the country, and Il
seems TO be fortified with authorities
and reasoning too strong to be shaken
have no fear that the Supreme Court
will reverse or seriously modify II.
Public policy public sentiment and
established principles and precedents
of law combine to sustain the Circuit
Court. From a commercial and prac'
tical railroad standpoint the sound
ness of the courts position Is indls
putable. II voices the judgment OF
nrobably ninetenths of the most con
eervative business men of the coun
try. The larger systems are protect
ed against the building of parallel lines
built to force them to buy to protect
themselves.
"The decision seems to make i'm
possible the success of the projected
Southern Securities Company. II viii
be recollected that the recent hearing
before the Interstate commerce com
mission in the Louisville and Nashville
case Mr.. Gates testified that If the
Northern Securities Company was up
held Mr.. Morgan proposed the organi
cation of Southern Securities Com
pany to merge certain important roads
IN the South, plans having been dis
cussed or arranged to await the deci
loh. which Mr. Morgan expected t'
De Savorable 70 his methods. lt coui'
not haye been q healthy or safe stu
alton if a few men could have sat n
their Offices in New York and con
trolled the railroad systems Of thil
entire country; not safe for the stock
holders of the roads themselves, nol
for the public.
"Spealling for the Independent sys
TENS. I welcome the promise of con
tinued fair competition. There Il
plenty OF business TO give good profits
to all roads and systems properly es
tablishod and wisely managed, an'
there will be demand for extension
and new lines to carry the steadily in
creasing trafic and travel AS for tn
general public it is idle to talk of
political republic with a financial tyI
amy; there is no more safety in hay
ing commerce at the mercy OF an all
eolute ruler than there would be Il
having our government controlled b.
a czar. who might be a benevolent o
a cruel despot wise or a ruinous one
according to his whim or abilities o
the circumstances.
Instead OF disturbing our prosper
ity this decision, If sustained. as
believe it win be, will establish. secur
and protect the commercial situation
1t will encourage and foster legitimat
extension. growth and expansion, an
stimulate enterprise and industry an
local effort by guaranteeing thel
against oppression and forced absorl
tion."