The sun., 1907-03-28

as most anxious ana ueterm1n0d 20 DO all
in his power TO protecr, preserve and en-
courage all legitimate' interests OF every
kind.
AT the close OF the conference the Presi-
dent thanked the committee for its frank
statement OF the existing conditions as
they appeared to the COMMITTEES. and prom
ised that within few days he would de-
termine whether his present engagements
would permit him to accept the committee q
invitation, which he expressed himself
"a anxious to do il he possibly could"
Commissioner Franklin K. Lane Of the
lnterstata Commerce Commission, who
has had frequent conferences with President
Roosevelt lately. said to-day that the com
mission would be glad to confer With rail
road msn from any or all parts Of the coun-
: try. with a view to agreeing upon the
character of additional railway legislation
that would give greater measure Of Federal
control over railways and at the same time
preserve the interests Of the railways them
selves. Mr.. Lane added that this was
the view of the entire commission
According 20 officials, one great dis
advantage in the way of bringing about
better conditions in the railway world, is
the apparent inability Of railway men TO
agree among themselves upon the ethod
which they think should he followed 10
put an end 10 the present situation. There
are almost as many views, il is Contended.
as there are railway presidents. Further
more il is alleged no definite plan has
been proposed by anybody Officials are
we'll aware of the prevailing opinion among
men of business affairs that the unfortunate
situation now prevailing has progressed
70 point where nothing hat the President
can say or do will be efe'tive in producing
return to better conditions knowledge
" this view causes some concern among
adherents Of the Admin stration.
All information received al the Treasury
Department to-day regarding Inagket CON
ditions waS Of more TsaSSllring nature,
and although Secretary CortelyOu il watch
ing the situation, II was apparent that he
would take no further action at present
President Roosevelt Con~1ltS with him fire.
uuently and MIR. Cortelvou was one Of the
guests at a small luncheon party al the
White house to-day. Auol Ter guest was
Andrew Carnegie who shortly before going
to the White House had given 10 the re-
porters his views on the railroad situation.
81 absolutcly indorse the Presidents
attitude toward the railroads" he said.
He is the hest friend they have. and they
ought 70 realize il. The railroads had
better stand with him. II they do not ac-
cept his moderate measures they may he
confronted bv man in the White House
who will approach the question Of the rail
roads from an entirely different standpoint.
regard the Presidents influence "a TO the
railroads as wholesome and conservative"
Secretary Cortelyou gave the President
an encourag gng report on the success OF the
-
par cent bonds Of 1907 Up TO the close Of
business Yesterday the purchases since
Harch II, when the Secretary's circular
notice was issued, were s7.0iO $50, and this
amount was increased by sl,5l5 $50 through
purchases that were made to-day. The
total amount of these bonds redeemed
since December / Of last year is tl3, ,79i $50,
leaving SlO2.98I 400 OF the entire issue out
standing. Secretary Corteyou has given
no. intination of his plans regarding the
redemption of these bonds beyond his
srtaternpnt THAI the Government stands
ready TO take them in up to the maximum
. amount Of $4,000 900. He has the power,
. of course. To redeem the entire issue, but
whether he will do so is a question. IL
was pointed out to-day that the state Of
the Treasury's finances is such as to make
this feasible in the course Of the year; but
. il would be necessary TO withdraw some
deposits from the national banks, and
this would not be done, Of course, until
money becomes more plentiful and until
. market conditions are normal.
There il a confident feeling at the Treas
ury Department that the exercise of that
provision OF the Aldrich law which permits
the deposit Of customs receipts in ma
tional banks will operate beneficially.
Z Under the Secretary's announcement OF
Yesterday about Sl5.O'O0OO of customs
revenues will he deposited as soon as the
banks qualify 10 receive them by putting
up the necessary bonds. either those of the
Federal Government or OF some State or
. municipality
tonight lasted for nearly three hours.
Those present in addition 10 the President
were Mr.. Corletyou, Secretary OF the
Treasury Mr.. Garfield, Secretary Of the
Interior; MIR Bacon, Assistant Secretary
. Of State and Chairman Knapp and Messrs
Lane Clements. Clark and Harlan of the
Interstate Commerce Commission. The
present railroad situation was considered
and discussed from every angle. No
conclusion was reached as To how or when
the President should sound note that
would be reassurinR in It's ehect upon the
transportation world.
The President again made ~ clear that
he fully appreciated the seriousness Of the
tendencies toward decentralization in the
railroad business and of his desire TO do
or say something that would restore the
equilibrium. The principal obstacle to
action on the part Of the President seems
, TO lie in the certainty that any public utter
ance or move on his part in the matter
might be misnteTpreted. BY frequent
consultation with officials and others in
whom he has confidence he is showing
an earnest effort 10 ascertain what is possible
to be done in the present state Of affairs.
II ls stated on good authority tgat no con
crete plan was proposed tonight that the
President might utilize in taking a course Of
, action calculated TO bring order out Of what
appears 10 be the chronic condition Of affairs |
that confronts the good as well as the bad
railroads. II Is Understood that the pro-
> posal made by Mr.. Schif thar the railroad |
men and the Interstate Commerce Com |
mission should meet and agree upon legisla- |
tion that the President should recommend !
70 Congress- was not touched upon at all. !
As one Of the conferees expressed il;
The railroad situation was disctI-s5 in |
a.. its various ramifCationR; the situation was |
canvassed with great care, but only in a. |
general way II is realized that the situa- |
ZION il full OF peril. We are trying 10 find !
a way out OF it."
As stated in despatc TO THE Sun. the |
President will move promptly IL he moves |
AT all. He may decide TO go 70 Springfield, |
Aa he wns invited 10 do by the Illinois manu-
facturers. and deliver a reasslring speech !
there. The chances are, however. that the
Q. l =.