Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-03-13
RAIL WAYS ABOUT FACE
Taking the Position They For
merIy Much Opposed.
WANT FEDERAL CONTROL
Deem Action of States Far Too
Radical.
TO THE PRESIDENT
He is Expected to Say Something That
Will Modify the Intensity Of
Popular Sentiment.

officials and others who have followed
the agitation for federal regulation Of rail-
roads are now marveling at the amazing
change in the attitude Of the railroads
themselves toward that policy. A little
more than two years ago they resisted
with all their might suggestions of the
mildest form Of governmental regulation.
Now they are appealing practically for
governmental control
What has brought about this change is
just what was predicted when the rail-
roads first bucked at the cinching of the
federal girth; they were told then that I'M
less they assented to reasonable correction
of abuses alleged by the public a senti-
ment would be aroused in the nation which
would bring more radical action. Presi-
dent Mellen Of the New York, New Haven
and Hartford saw that argument and
yielded to it two years ago. The late
President Cassatt of the Pennsylvania
Joined him. President Stickney of the
Chicago and Great Western was an en-
thusiastic supporter of the idea and James
J. Hill recognized its force.
1t was admission of that contention that
resulted in the enactment of the federal
railroad rate law. Without the submission,
logged though 1t was. of the great rail-
road systems, Congress would still be
submission came too late. The damage
had already been done. A ball had been
started a-rolling, which gathered such mo-
mentum that 1t got clear away and has
gone smashing through the vested inter-
ests, leaving havoc in its path.
Action of the States.
The crusade for governmental control
was taken up in the states. Every ambi-
tious politician found means at hand to
play to popular clamor and go after the
railroads They saw the great popularity
which President Roosevelt had attained
by his demand for sane and safe regulation
and they proceeded to go him one better.
They reduced fares, lowered freight rates.
penalized roads for detention of cars and
Imposed many kinds of limitations upon
traffic within the states.
These efforts were aided by existing con-
ditions that rendered public sentiment re-
sponsible to attacks on the railroads. This
was particularly the case in the west and
northwest and in the south. There was
great congestion Of traffic, due to the mar
velous prosperity of the country and the
overcrowding of the roads.
The farmers of the northwestern tiers of
states, unable to get coal in and to get
their wheat out. quickly assented to legis-
iation penalizing the roads. Only yester-
day the president of the Memphis cotton
exchange appealed to the interstate COM
merce commission to force the roads to
move 23.0O0 bales of cotton that had con-
gested at one shipping point, Memphis.
Ore and coal roads in the west felt the
pinch also.
The railroads were squeezed at every
point of pressure. They wanted to increase
their rolling stock. but that took immense
sums of money. The investing public took
fright at the crusades in every state and
refused to buy the bonds. It was estimated
in Wall street Monday that there are now
more than 81, 600 000, 600 worth of gilt-edged
railroad bonds in first hands, unable to find
a market. Their price has declined and
the prices of the railroad stocks have gone
down ahead of the bonds.
Decline in Railway Shares.
The net decline in the shares of standard
railroads in the past three months is rep
resented In hundreds OF millions, sums 20