New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-04-21
STLCKNEY ON RATES.
Thinks Presidents attitude Right
BIames the RGiL1rGyS.

A. 2. stickney president OF the Chicago Great
Western Railway Company IN an interview IN
THE Wall Street Journal" yesterday discussed
from point OF view different from that commonly
occupied by railroad officers the question OF ran
road regulation. 2ir. Suckrey said in part;
President Roosevelt IS not against the railroads;
neither are the people. THE Wall Street JourhaI
can rest assured OF two other things, namely that
the President has neither changed nor moaIea 5.s
attitude toward railroads, ana me people No. H. ~,
changed modified theirs. ! had an lnleFylew
railroad managers may delude themselves with the
assumption that the public Is becoming more us
ciatOTy. The public like the Presidents Wants VANS
nothing more than a square deal ana VIII @00eP1
What the people object to IS discrimination. They
willing the railroads should make reaso.p5le
President is willing. and if they cannot get far
dealing any other way hey viii legSlaIe me d f
the railroads take the consequences some sue"
recent legislation IS very serious. , To-,
reducing freight rates and another law ihIhl a
mo CONF Tbis IS q new departure in legislation.
The Minnesota Railroad Commission last fan or
dered a reduction IN freight rates so drastic lnaS
the railroads enjoned it as being conSGaofy 9 n1
quite 50 sweeping but we Eel II IS fsbt the
TWO cent fare law by filing suppefnelt5r ON 20
only one thing the railroads can do. stockhoiaer
can sue and enjoin the railroad from aeeptnS I
rates, and he might get an injunction lhat WONG
enable the railroad TO test the consutuuoha'iS %
What Minnesota has done is peculiar. but It only
illustrates what extent the wave OF legislation
IS sweeping over the country. .,
You ask 10 say III q word What caused az
this? Discrimination. Let me Illustrate. Chlc1so
sobbers pay certain freight rates from New Ing
land while jobbers in ST Paul or at the missouri
River pay 80 per cent more. That Is al Tlgnt but
when all these ipbbers compete IN tho Far West,
rates 10 the Far West than The rates PAID from
St Paul or the Missouri River No amount OF tank
can make those men believe that is right REBATES
have gone, but the discrimination IS the same as
The question S. How can il be stopped? / see
only way. The interstate law must go iGI llisE
and give the management Of rates INTO the MINUS
OF the Interstate Commerce Commission 80,
AS TO the railroad side of the question. l stared
last years gross earnings would wipe our tne
average railroad dividend. Without considering
the reduction that viii be caused by state legisla-
zion, have Z face 10 Per cent increase n
operating expenses this year. In month or Two
we will all it. More business VIII not help US
snueh-and look for larger volume OF frame an
around this year than last-because OF me hlg!ltF
cost OF handling il. Some railroads tax OF re-
trenchment, but they must take care or thelr Dus4
ness and keep up their plants.
There is a great deal TO be said on the purely
financial side Of the question. but VIII tell you
the one supreme cause Of the difficulty railroads
is the imitation of securities up short time ago
Holders OF securities discovered all at once ana
about the same time that what they had was not
worth what they thought il was. Now they are
fimid. 60
General business is very good The Wall Street
situation the railroad situation VIII not anect
the steel industry this year.