The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1907-03-14
RAILROADS ALARMED.
They Arc Auxious to Have Roosevelt
say Something.

Say Something.
Washington. March 14.-What do the
railroad magnates want the president to
do? Do they merely want him to say
something to the public? Everybody is
| in the dark. including the president
himself Many guesses have been haz-
arded but, after all, they are only
guesses. 1t can be accepted as authentic.
however. that no authorized statement
will proceed from the White House on
the railroad situation until the presi-
dent has had his conference with the
four railway managers In whose behalf
Pierpont Morgan came to Washington
and held his night conference with the
president.
Whatever situation is to be develop
ed must come through the initiative of
the railway managers themselves. and
until the president knows what re-
quests, if any. they will have to make.
he will remain quiet. 1t can be stated
with positiveness there will be no
change in the administrations policy
No account of the ups and downs in
Industrial stocks is taken at the White
House. The administra ton has had
nothing to do with the manipula tions of
railroad stocks and if the water in
them has become a matter of public
knowledge that Is in no particular
result of legislative or administrative
development
ment one can with safety proceed to
discuss the presidents policy What
he hopes to accomplish has been set
forth in several messages and in nu
merous speeches within the last three
years The government purposes to
regulate railroad rates on interstate
commerce shipments. 1t will perfect
the measure known as the Interstate
commerce act and to this situation the
railroads must adapt themselves. 1t is
not for the government to adapt its
LEGISLATION and administration to the
rnanipulations of railroad financial
NapOleonS. 1t is rather theirs to adapt
themselves to necessary governmental
regulations in behalf of all the people
1t is the consensus of opinion here
that the main purpose in the coming
of the railroad managers is to urge
the announcement to the country that
more drastic legislation will not be
sought from the Sixtieth congress The
one oversha dowing menace to stock
manipulation is the fear that the ap-
praisement of railroad properties will
be urged by the president. This is
what is known as the La Toilette val
uation amendment. 1t Is favored by
the interstate commerce commission
throughout the country. If it is
urged by the president the railroad
magnates declare that fortunes will be
wiped out and Industrial chaos will
prevail. 1t will mean. of course, that
railroads which attempt to float water
ed stock will meet the governments
valuation of what the property is real
ly worth
before the congress. a fercer one than
followed the effort to enact the =egisla-
ton winter before last. The railroad
magnates admit that they have been
severely hit this winter. The blow has
been more severely felt than the legis-
alton which resulted in the passage of
the rate bill. The reduction in the pay
for transporting the mails was direct
and drastic. The hours of service bill
following the employers liability act,
was heroic treatment The Legislation
in the various states IS directly traced
by railroad men to the initiation here
in Washington. If the president an
nounces his intention to continue the
effort for additional railroad legisla ton
the railroad managers say that the
states Will begin new crusade. It is
too late for any expression from the
president to affect the legislation in the
states for this winter. What the rail-
roads want is check to the agitation
1t Is not at all improbable that the