The Washington herald., 1907-03-27
PRESIDENT WILL ACT
Holds Conference Regarding
Financial Situation.
REALIZES SERIOUS CONDITION
Disposed to Do or Say Something 10
Reassure Railroad NTanagers-COn-
sidering steps 20 he Taken to
Make Relief Effective and Restore
the Confidence of Investors.

A conference OF momentous impertaHee
having bearing on the present unsettled
state Of affairs in the financial and rails
road world was held at the White House
yesterday.
These present we're President Roosevelt.
Secretary Of State Root, Secretary Of the
Treasury Cortelyou. and Commissioners
Franklin X. Lane and Edgar S. Clark, Of
the Interstate Commerce Commission.
While no definite conclusion was reached
as to what steps should be taken TO re-
lieve the present tense situation, it can be
stated upon authority that although he
has not finally determined upon the course
he VIII take, the President is disposed
10 do or say something that will be re-
assuring in its effect upon the railway
managers Of the United States and the
inanciers Of the country, and restore to
investors that confidence Ia railway Sc
curities, which. It is alleged. they have
lost owing to the widespread belief that
the government had planned 10 run
amuck and enforce with great rigor laws
aimed at combinations in restraint OF
trade and to regulate commerce between
the States.
VIII Act without Delay.
If the President acts in the matter. he
will act without much delay. There was
a report here a day or so ago that in his
speech to be delivered on April IS at the
exercises incident to the opening Of the
jamestown Exposition the President
would sound a note intended 10 check
promptly the tendency toward falling
values. The President realizes the seri-
BUSINESS Of present conditions. and if he
decides that it is incumbent upon him
TO take steps to obviate a further falling
OF in values. in order 70 prevent vide
spread generalization, affecting industrial
as we'll as railroad properties. he viii act
promptly ard effectively before the date
mentioned.
Many people believe that the time has
gone by when the President could have
STAYED of what appears to be a condition
presaging panic serious in its. conse-
quences. 1t is pointed out that the unrest
which has manifested itself in the mar
ket during the past week or so is as
baneful in its influences upon what Mr.
Roosevelt calls good railroads as upon
the bad" railroads.
Al. yesterdays conference the situation
was eanvassed with great care. The
President indicated his deep interest in
the question, and listened attentivelv to
the words of his cOnfreres. What is to
be done in the premises. how TO do it.
and when, were considered. and while no
decision was reached. important develop
ments are likely to follow.
RSu CouFarau.a RE.u..a
The discussion at the conference Of
ways and means TO bring about better
conditions IN the hope of averting hard
times. brought 10 the front several sug-
gestions that would probably be more
effective than a mere statement of a re-
assuring character from the President
There is reason to believe that the ac-
tion of Mr.. Roosevelt may take the form
Of an invitation 10 chief ofleiaIs of inn
portant railway systems to confer with
the Interstate Commerce Commission
upon the causes of the present trouble
With view to adopting practical meas
1res to produce a restoration of normal
conditions. But there was no discussion
upon this point.
Carnegie Visits White House.
Andrew Carnegie visited the White
House early yesterday afternoon. but as
the Cabinet was in session he did not
meet the President. Shortly after Mr..
Carnegie arrived the Cabinet adjourned
and he walked away with Secretary Root.
CONTINUED on SECOND PAGE.
FIorai Offerings for Easter
Finest afsxrara r3f- ,t~f-4-...-