The Washington times., 1907-08-09
STRICT INQUIRY
into OWNERSHIP
OF ALL ROADS
Commerce Men Secure
Data on IntercOrpo-
rate Relationship.

Almost unknown to the general pub
&c. the accounting division Of the In
serstate Commerce Commission has
gathered together in recent months a
mass of facts OF great Importance,
showing the intercorporate relationships
between the railroads and other COM
mon carriers and between other corpo-
rations. The intercorporate relation
ships between the roads and common
carriers themselves are also disclosed.
The commission is now in a position to
know IN what persons, associations, or
corporations the control of every inter-
state railroad in the United States rests,
and IN what other corporations. whether
railroad corporations or not, each rail-
proad Is interested and to what extent.
Expert Accountants at Work.
Expert accountants ere at work COM
Ipiling the information that has been
reported They expect TO have this in
formation compiled by the time Con-
,igress meets.
{ The result will be n mine of infor-
Smation on the subject of railroad con-
i4roI and Railroad holdings, and viii un-
ld0ubtedly make clear many intricate
relationships between common carriers
and other corporations and between the
bcommOn carriers themselves that have
knot been understood. and, I'm some
cases, scarcely suspected. The amount
fof railrosd securities In the hands OF
the roads themselves and in the hands
iof other parties will be made known as
( well as a great many facts Of value In
( the administration Of the interstate
2 commerce laws.
BeaTing on Legislation.
& That the inquiry and its results will
lhave large bearing on legislation As
believed. Commission officials say it.
was not designed for that purpose. but
Ito help in the enforcement Of the inter
Estate commerce laws. They say that
( for one thing it will help put a stop to
rebating II the commission is in posi-
ton to know just what concerns 4 rail-
;road is interested in, and hence what
concerns It is likely to give favors to,
faf Il gives any.
But. more important than this, the
/. probabilities are that this exposure OF
stbe TamifcatiOnS OF railroad interests
will be OF material assistance 10 Con
IEress iu legislation intended TO prevent
railroads buying up the securities of
other roads and common carriers that
fare not connecting lines.
Open to Public.
Growing out of the Hartman DIS
closures. It is expected Congress viii
enact drastic legislation along this line.
The Information gathered as the result
OF the inquiry into intercOrpOrate rela-
tionships will be Of much service in
considering any bills on this subject,
and in making IT clear how far there is
need for such legislation. The informa-
tion when compiled VIII be open to the
public, and available 10 Congress,
though not obtained with the idea Of its
effect on legislation or its value in con-
( sidering legislation.
3 How completely the railroads have
yielded to the idea of Government su-
pervision Is evinced by the fact they
have not resisted disclosure of the in
. formation asked by the Government
one large holding company has done
: so. alleging II Is not a common carrier
! but this Will be tested In the courts.
What the Information Is.
The questions submitted to the roads
were prepared under the direction of
Prof Henry =. Adams, chief Of the ac-
counting division. They leave no room
Tor evasion. They aim to find out the