Cameron County press. [volume] (Emporium, Cameron County, Pa.) 1866-1922, 1907-01-10
WASHINGTON LETTER.
From our Regular Correspondent.
Washington, Jan. 5, 1907.


Post Master General Cortelyou
against the New York Cotton Ex-
change by Harvis Jordan and other
members of the Cotton Growers
Assn who claim that the New
York exchange has degenerated
from legitimate business institu-
tion into plain gambling concern
and that it no longer has any right
to make use of the mails for the
transaction of it's business. This
is a very serious charge and means
great deal both to the cotton ex-
change aud the cotton growing in
terests in the south. 1t is alleged
that the Exchange instead of deal
ing legitimate cotton futures hand
les grade of cotton which cannot
possibly be spun; and which is fit
only for making horse collars,
cheap mattresses and things of that
sort. 1t is claimed that out of the
5000, 900 bales of last years cotton
crop only 10000 bales of actual
spot cotton was placed on the New
York Exchange. 1t is claimed
that the prices quoted on the Ex-
change range from So to $3.50 less
per bale the real market price for
cotton in the south, and that the
whole system of trading or gahbl-
ing on the Exchange is hurtful to
the legitimate cotton business. 1t
is asked that Post Office Inspectors
be appointed to probe the charges
of fraud, and that on their report
will depend whether or not the
New York Exchange is excluded
from using the mails.
The Interstate Commerce Com
mission has plunged into an in
vestigation of the block signal sys-
tenn now,in use on the principal
railroads in the United States, and
has begun it's work in Washington
with a specific investigation of the
recent railroad wreck at Terra
Gotta on the Metropolitan branch
of the Baltimore and Ohio, three
miles from Washington where be-
tween forty and fifty people were
killed, and nearly seventy severely
injured, This investigation is the
first to which the federal govern
ment has taken a direct hand in
probing individual railroad wrecks.
The object is to ascertain whether
the block signal system which is
theoretically perfect, is practically
d protection to passengers, and
whether it's administration by the
railroads has become so lax as to
make it a positive source of danger.
The railroad men both officials and
minor employees have been so we'll
trained in the art of forgetting
things that it is hard to get any
definite information out of them
even on the witness stand. The
investigation of the Commission
has so far dragged excessively, but
a statement has already been is
sued to Congress saying that auto
matte mechanical devices for the
protection of railway traffic have
been developed to point where it
seems to the Commission they are
we'll worth government investiga-
tion, with view to forcing their
adoption on the railroads, it is,
therefore, very likely that when
the present investigation is finish
ed the Commission will recon-
mend, and Congress will adopt
some law forcing the adoption of
an efficient block signal system,
possibly the double block, together
with certain mechanical safety ap-
pliances and will make their use
obligatory upon the railroads on
the same basis that automatic
couplings and similar safety devices
are now demanded in the construc-
tion Of railway cars.
Waruiup