The Cairo bulletin. (Cairo, Ill.) 1???-1928, 1906-06-04
PENN DIRECTORS WILL DEAL
SUMMARiLY WITH OFFICERS
GUILTY OF CORRUPTION.
COUNTRY WILL SUFFER
AS Continued Attacks by Press VII
Undermine Confidence Followed
BY Suspension of improve
ments and Depression.

SAT-, president Of ne Pennsylvania
Railroad company arrived home al
tIMayerford, a suburb from Europe to
day. This evening he gave the AsSo-
ciated Press the following statements:
Cassatt aid he returned home to
take part in the inves' igation by the
directors Of the Pennsylvania into mat
ters scIosed during his absence be-
fcre the Interstate Commerce commits
sion.
He had received only a brief cable
report and knew nothing Of the details
Of he charges againet certain officials
of the acceptance of bribes from coal
operators. The board would investi-
gate all the charges exhaustively and
if any officer was found guilty Of
corrupt practices he would be summar
lily dealt with.
Referring TO the testimony Of certain
officers, that they held stocks in coal
companies ana 10 the Inference drawn
by the newspapers that fayorteism on
a large scale had been practiced for
the benefit of companies, whose stocks
were thus held, Cassatt said that while
such stock ownership was no doubt IN
advisable and unfortunate, il was net
an offense in itself and not contrary 90
ghe bylaws of the company. In fact,
the management had in earlier years,
encouraged the officers to aid The de-
velopment of industries along its lines.
The wrong, if any had been done, was
in the alleged fayoritism. There would
be no favoritism in rates as all snip !
pers were on an absolute equal ~. |
Mr Cassau made himself personally |
responsible for the absolute correct |
ness of this statement If any discrin |
ination existed II could only be Ia |
the distribution of empty coal cars
and so far as he knew no proof had |
been produced that officers had been |
guilty of such. There had always be n
a shortage of cars during periods every |
year. and in recent years this condition |
was aggravated by the grea' increase /
in the production of coal In view Of |
fhis and of the suspicion which such |
ownership would create. officers hay.
ing the distribution of empty cas-
ought not To own coal stocks; bur 10
prohibit all officers and employees from
holding stock in companies having
bu,iness with the Pennsylvania would
prac ically bar them form investing
In the stocks of companies locatel in
Pennsylvania and half dozen other
states.
The subject was troubles me and
complicated. II would do no 90 "a
toadopt unavoidable and unenforceable
regulations.
The question must be handled rca.
sonably and prac ically and Mr.. Ca
satt had no doubt the heard would
solve IL satisfactorily.
Though the testimony before the
might disclose instances
pf individual misconduct and though
an eifor seemingly organized. had
been made 10 place the management IN
a most unfavorable light. Mr.. Cassa't |
asserted that the companys affairs
were honestly conducted IN the inter
est of the shareholders and with a full
recognition Of duty 10 the public The
had. i'm the past. shown e.
elf entitled to the confidence Of he
public and should be trusted now Mr.
Iassatt IN ught. too. that the MAJ
agemolt deserved better treatment
han il had received tom the press.
II had rendered immense service %
he public and 10 honesty and decor cy.
When. early in 1900. ii gave notice
hat 70 more rebates would be paid
Ind thar all shippers would be placed
Ipon a basis of perfect equal iy. IL
lad thus inaururaied n movement
Nhich. having been joined in by other
ailroads and aided later by the Elkins
ict. had destroyed the vicious system.
rhe management had done other
hings that deserved commentator
g had taken the company ont IF poll
ics and had do-e away with the free
pass evil Buf the pres generally in
be proscu host Tits t0 railroads vas.
aHng in line with anli-corpofaHan
lubiic sentiment which has been Gre
tied br some Of the leaders cf the
-reat political parties trying 10 outhi1 ,
.ach her for popular support hy az
aekiug large vested Interests indis-
II this course were pnr-
ned much longer f. couid only result
n undermining confidence and IN the
uspension Of improvements and gener- 4,
j business depression from which the
rhole country would suffer.