New-York tribune., 1906-06-04

paints, and, as a natural consequence the
charges of discrimination. If the output Of coal
should continue to increase in the same ratio
as In the last few years 1t might not be possible
to provide sufficient equipment TO avoid short
age in the supply at times.
In view of this and of the suspicion which
such ownership would create. officers having to
DO With the distribution of empty cars ought not
10 own coal stocks. but to prohibit all officers
and employees from holding stock of companies
having business with the PENNSYLVANIA Railroad
Company would practically bar them from in
vesting In the stocks of companies located in the
State of Pennsylvania and a half dozen other
states The subject troublesome and COM
plicated- 1t would do good. but harm. TO
adopt unworkable and enforceable regulations
The question must be handled in reasonable
and practical way. and Mr. Cassatt mad no doubt
the board would succeed in solving 1t salts
factnrily. and IN formulating proper rules of
conduct in this respect for the officers
Though the testimony before the commission
might disclose instances OF Individual miscon-
duct, and though an effort seemingly organized.
had been made to place the management in the
most unfavorable light, Mr.. Cassatt asserted
that the company's affairs honestly
Quoted in the interest of the shareholders and
with a full recognition of Its duty the public.
The company had in its employment over 10000
men who. in character, efficiency and devotion
to its interests, had in their respective spheres,
no superiors anywhere. The management had
in the past, shown itself entitled to the conf
dence of the public and it should be trusted now
to deal properly with the present situation.
Mr.. Cassatt thought. too. that the management
deserved better treatment than it had received
from the press, and particularly from the press
of the company's home state. 1t had rem
dered immense service IN he OuhIis
and to the cause of honesty and decency in the
conduct of the transportation business when. in
the early part of the year 1900. two years before
the passage of the El1ns act. it gave notice that
no more rebates would be paid and that all
shippers. great and small would be placed upon
a basis of perfect equality. 1t had thus inaug-
urated movement which, having been joined
in by other railroads and aided later by the pas
sage of the Elklns act had destroyed a vicious
system almost old as the railroads themselves
and which had become deeply rooted that
many experienced railroad men doubted the pos
sibility of eradicating it.
The management had done other things that
deserved the commendation of the public and of
the press 1t had taken the company out of
politics and 1t had done away with the free pass
evil. But the press generally, In its present hos
tility TO the railroads. only falling in line
with an anti-corporation public sentiment which
had been created by some of the leaders of the
two great political parties who were trying to
outbid each other for popular support by at
tackilg large vested interests indiscriminately
If this course were pursued much longer it could
only result in undermining confidence. in the
suspension of improvements and in general busi-
ness depression from which the whole country
would suffer
President Cassatt arrived here yesterday from
abroad
Il have nothing to conceal" he said when
reporters, who boarded the Amerika at Quaran-
tine addressed him. He declined TO talk further
saying that he would make formal statement
later. He then retreated to his stateroom on
the Roosevelt deck He appeared nervous and
excited. but otherwise in good health.
With Mrs. Cassatt and a grandchild the
daughter of his son. Robert Il Cassatt Mr.. Cas-
satt sailed on May for vacation in Europe
that was cut short by the recent disclosures at
the Interstate Commerce Commission hearings
of the acts of certain Pennsylvania Railroad Off
cials
Mr.. Cassatt was met at the pier by his son
Robert K. Cassatt. Mrs. r. K Cassatt and two
railroad officials. The party Immediately board
ed the Pennsylvania tug Lancaster and went to
Jersey City, where a special train had been
waiting two days to take Mr.. Cassatt to Phila-
delphia,