Pine Bluff daily graphic., 1907-04-28
GOULD ADVOCATES
 FEDERAL CONTROL Of Railroads - Commits Himself Even to Judlc- ious Supervision of Secur ity Issues.
APPROVES THE LAW
Stopping Rebates-System in Outrage on Shippers and Public and Should Have Been Abolished Sooner opinion of 2-Cent Rate.


 for Europe yesterday George ! Gould, Il an interview, disclosed lim- self as an earnest advocate of Govern ment control of railroads, even TO the extent of judicious supervision over railroad security issues.
 Mr. Gould expressed his faith in the i sincerity of purpose of President Roosevelt in his policy toward cor porations. He emphasized 5he good results that have been effecte9 through reforms instituted by the In- terstate Commerce Commission. Cred it conditions, he believes. will im- prove if the spread of further hostile Legislation is checked.
 Glad Of Supervision.
 As an investor, said Mr Gould. T am glad to see a reasonable super vision kept over Gbe roads. I would not even oppose g. judieious Govern nent supervision over issues of rail- road securities. The doing away of rebates was certainly first-rate achievement. From the standpoint both of the railroads and the public the check of relating was just and right The system vas an outrage on shippers and the public, and 1t 5 wonder that they stood it so iong as they did The cutting off of pass es was another good move
 What do I think of the tendency to legislative action On the part of number of States Of the Union to fix an arbitrary rate of cents a mile on passenger traffic. We'll, if you want my candid opinion, I think t most pernicous. It is the only cloud that I can see on the financial A0ri- zon Passenger traffic at the present rates is carried on at a loss-jn some instances at q severe loss Cut the rate down to cents mile and a. seri- ous situation confronts all railway managernents. ;
 In reply to the question as 70 his opinion of the financial condition of the Gould always, in view of the fact that they did not follow the pro- gram of other roads in contracting heavy loans, MT. Could said
 T don t believe in short-term loans. I think the short-term note issue $ a mad and dangerous form of tinanc- ing. In the case. for instance, of a three-year loan, in the life of d cor poration you've only just turned round before such notes become due. It is an unwise and expensive method of financing.
 As I leave the country I feel thai all the railroad companies with which am identified have been provided for, so far as their immediate needs are concerned. and so far as credit conditions would permit.
 There appears 10 De q feeling, . said lTr Gould, "that we should have supported our securities during the recent decline I am bull on ny i own properties, and that is one of the | reasons why no attempt has been made 70 lend artificial support 10 the ! stock market prices of our securities, l To have done so, in my opinion. would have been an unwise move. In these offices the present monetary eondi- tion was foreseen more than year ago.
 If prices of our stocks had been maintained. or run up to high figures, I as was the case With certain conspic- uous issues, tbe result would have been equally unfortunate. l. vas in- ]! epitable that prices would come down ! with the natural consequence f heavy losses to the investors. It was much better to let matters take their i own course and leave Wall street al I liberty to express in it's way it's iudg- ment as to the market value Of stocks 0f t1a C,ouid ,.Na1c