, 1907-07-25
WHAT Is NEEDED
RAILROAD COMMISSION DE-
MANDS MORE POWER.
WILL ASK AID OF CONGRESS-
Would Control capitalization to pre-
ven Watering Of Corporation
Stocks.

vent Watering OF corporation
Stocks.
Washington.-Franklin X. Lane, a
member of the Interstate
Commission, gave out a prepared inter
view, designed to let the railroads,
and the public generally. know what
the commission ant In the way OF
further federal Legislation to extend
the functions of that body to he point
nearest perfect usefulness to the coun-
try. Mr.. Lane does not pretend to
speak officially on behalf of the com
mission as a whole. but a poll OF the
individual members would reveal
views practically identical with those
held by MIR. Lane Commissioner Lane
saws that now that the commission
has gained a really practical point of
usefulness, legislation is needed to
cover the following important points
demanded to reach completion:
The commission wants the power to
make rules governing such matters as
the furnishing of cars to shippers.
1t wants the power to control the
movement. of cars at a minimum rate
after they are loaded.
1t wants to have plenary power TO
control the matter of the capitalization
OF railroads.
- "a ~ ~ ~ Po'Sa i'>
vent the watering of railroads stocks.
1t wants more power governing the
movement of freight to consignees.
These points in brief" explained
Commissioner Lane, cover the most
important features of railroading over
which the commission desires to ave
comprehensive authority.
1T was held by the Supreme Court,
as is gen orally known lie continued,
that prior to recent enactment the
commission was without power to fix
rates in a way that would mean relief
to shippers. Unde an act oil the last
Congress, express companies end sleep
ing car companies were brought UNI
der the Jurisdiction of the commission.
I'VE have exercised the power ON x.
press companies" continued Commits
sioner Lane. and recently COMPETENT
ave been fled with us respecting
rates charged by the Pullman com
pany.
The commission was also given
power under the Hepburn act to instl
ute a uniform accounting for all inter-
state carriers in the United States.
which are some 200 in number and
operating approximately 100000 miles
o ftrackage in the country. This sys-
tenn of accounting has just been put
into effect.
also now have the power to ex-
anime the books of all railroads.
You asked me what the commission
has done; what it has accomplished?
We have spent a considerable portion
of our time during the past year in the
preparation for the accomplishment OF
greater uniformity in the practice and
methods OF railroads throughout the
country generally.
"A very considerable part of our
work has been the constituting of acts
of Congress. so that the railroads. I'M
der all sorts of conditions and circum-
stances, may know what is required
of them. DO
"A strong effort will undoubtedly he
made d Iring the next SEES sion of Con-
gress to have the Interstate Commerce
Commission granted power to make
and enforce rules governing the matter
of furnishing cars to shippers. and the
movement of cars at some minimum
rate after the cars are loadcd. There
is no doubt a strong movement in IA
vor of bringing under the control OF
the commission, or some other federal
body, the supervision of all the work Of
capitalizing railroads, in order that tho
watering of stock and other abuses in
furious to the public at large may be
made impossible.
The work of the commission has
been largely devoted to the suppress
sion of determinations in fave. OF
one locality and against another loca-
ton similarity situated so that the To-
cality Disseminated against labored un-
der a handicap which brought uponit a
2 handicap which brought upon II IL
great and dangerous loss. We have
practically stopped discrimination as
between individuals.
The commission now has the power
to make point ratas ana through routes
so that it is not possible for 4 railroad
to refuse an alliance with another, and
smaller road, where there has never
been a through route concluded Mr..
Lane. in his summing up of conditions.
w have power also to require a rail-
road to make connections with the
main road-the two roads being owned
and operated by separate bands of
capitali9ts-so that the larger road is
not able to kill or even cripple The
smaller road
I'VE are crushing monopoly; we are
putting all men and all business con-
Germs dealing with railroads upon a
common level of privilege, and we will
not allow railroads to control indus
tries by offering rebates to certain men
and trying to murder smaller concerns.
That sums the situation up according
to our work of today"