New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-03-20
MR.. MELLEN'S VISIT.
HE SUBMITS "A PLAN.
President Considering 1t zcitk Others
is Seeking Information.
- Tne TItbuae Rureau.l


,,rernments relations to the railways of the
,,n+rv IN the course of the conversation Mr..
ssenen submitted certain views and gained
adorable information regarding the Presidents
position.
After leaving the President Mr.. Melen said
he could say nothing for publication regarding
h,s conversation with the President. he fully
understood the unwritten law prohibiting cali
avs from quoting the Executive. and that he
ss not feel AZ liberty 10 discuss the general rail-
vsv or financial situation. undue significance
might attach TO any utterance Of his because he
had Just been talking with the President.
MANY PLANS SUBMITTED.
II Is violating 10 confidence however. TO say
that Nr MelIen submitted to the President a
imposition which he believed constituted a solu-
ton Of at least some Of the grave- problems
connected with the relation of the government
20 the railways. and that while he learned much
regarding the Presidents attitude. he did not
gain much information concerning the Presi-
dents opinion of his proposition. Mr.. Mellen is
The sixth man prominent in financial and rail-
wav affairs 70 call on the Presiden; in the
last two weeks. and each has submitted some
sort Of plan or proposition. no two of which
agree and some Of which are not little vague
IN character. IN fact, no one Of these men
has made II entirely clear jusi what he desired
Of the President
Mr. Mellen learned as have the other fnar-
ciers officials. that the subject Of the gov
elnments relations 20 the railways was occu-
pying large share of The Presidents thought.
End thar he was consulting every one whom he
believed could thrown light the subject.
either in its broad sense or in the way Of expert
testimony as to details. and that in so doing
he was feeling his way along lines already
clearly marked out in his messages and speech
es. It was also made plain that there was little
likelihood that the President would have fully
developed the details Of the legislation he viii
recommend 10 the next Congress before the
time comes 10 write his next annual message.
but that if. in the mean time, certain points
cleared up to his satisfaction no was likely TO
make such points the subject of some public
utterance, as. for instance. his speech at the
opening Of the jamestown Exposition, on April
IS. his address 10 the National Editorial Asso-
ciation on May 80 his speech at Lansing Mich.
on June 81 or a speech at some similar public
occasion.
WARNING AGAINST RUMORS.
In connection with this il may be stated thai
the President has warned those interested in
this topic against accepting any of the more or
less sensational reports which viii doubtless be
published regarding his views He has pointed
out how necessary it is for him carefully to in
vestigate every phase Of every proposition which
seems worthy Of consideration, and that in
doing ne is likely to send for various men who
he believes, may be able to furnish him infor-
nation.
He has told them that in the light Of past ex-
perience they may expect 10 see circulated ru-
mors possessing more or less verisimiitude re-
gsrding the course his mind is following. and
has pointed out that such rumors viii probably
be largely or totally false. because each person
with whom he discusses the subject IS likely
10 60 away with The impression that the phase
Of the subject on which he was consulted is the
one uppermost in the Presidents mind. whereas
the fact may be that such phase is one To whicn
he attaches little importance. or which perhaps.
he has finally determined TO reject And. I'm
clusion the President has assured those inter
estod that they may feel certain that when he
reaches a SECESSION he will not conhde his views
10 any single individual group Of individuals.
but VII either announce il from the rostrum
call in the Washington correspondents and
thorze them TO make known his views in unmis-
taxable terms
WILL NOT ACT TO AFFECT MARKET
In the course o. their conversations Mr. Mel
len and his colleagues have learned that there
have beer. urged upon the President certain
pedients designed 10 affect the market and boil
Eter up prices in War Street. but that he has
declined to take into consideration the specula-
tive situation. 1t is true that the argument that
the reluctance Of investors to put their money
into railway securities may hamper the efforts
Of railway managers 20 increase their facilities
has appealed TO him. but il has only served 10
demonstrate to his satisfactio that were fec
eral control Of stock and bond issues an accom-
plished fact this difficulty could easily be avert
ed. For instance the President has pointed out
that were the federal governmen: in position
20 say to the would-be investor that sucn and
such road actually needed funds with which -
improve its plant, that the proposed improve
ments would involve an outlay which warranted
such and such stock, bond issue. or both
and 10 assure the subscriber TO such stocks and
bonds that he was not investing in water but
IN securities representing actual property. the
railway managers would experience little diff
Guilty in marketing the securities. Just how this
suggestion has been received by the railway
men who have called on the President is not dis
closed. although Il is known that 10 some Of
them the proposition appeals with less force
than is likely TO be attached to II by the pub
lie, once the President has undertaken its eluci-
dation
Too much emphasis cannot be placed upon the
fact that the President is considering the rail-
way question in its broadest aspect, that he is
not by anv means concerned over the furry in
Wall Street. and that nothing he says or does
VIII be done with a view TO affecting the market
He has already indicated in HIS messages and
speeches the broad outlines Of his policy. and
ne is now engaged in working out the details
which task he would be engaged in with equal
earnestness had the Street remained as dull
during March as Il was during January or De-
cember II a tr,,e however that the President