The Washington herald., 1907-03-28
REALIZE SITUATION
is FULL OF PERIL
CoNTINuED FRoM FIRsr 80.

ADNiiNl I'D PROM FIRST PAGE.
The intlmation was conveyed at the same
time however. that the outlook was MT
favorable 70 an acceptance og the invita-
ton 20 visit Springfield
The Presidents next public speech is ex-
pseted TO be on April i2 when he will de-
liver an address at the unveiling Of the
Rough Riders monument at the Arlng-
ton National Cemetery, but that Is re-
garded as an inappropriate occasion for
any expression on political or semi-poiiti
'cai questions. The next speech for which
date has been set viii be at the opening
Of the jamestown Exposition. on April z6
Committee Makes Statement.
The Illinois delegation left Washington
soon after seeing the President Before
leaving it gave out a typewritten state
ment in which there was careful avoid
ance of anything that would indicate, ex-
.cept in the most general way, and that in
the briefest form, what the President
said while the interview was in progress.
So guarded is the President lest he be
placed in the position of having made a
public statement on the questions which
are disturbing the financial world that he
warned the delegation. as he had warned
other visitors. against quoting him for
publication.
The delegation consisted Of c. Fl. Smith.
of Aurora. the president OF the Organiza-
ton; Levy Mayer, Of Chicago. the general
counsel: John z. Wilder. OF Chicago; w.
B. Brint0n OF Dixon. H.; Charles a. Pla-
mOndOn, OF Chicago, and john NJ. Glenn,
the secretary Of the association.
IN its formal statement the committee
says:
THE President inquired carefully into
the prevailing mercantile conditions, and
expressed himself as most anxious and
determined to do all IN his power 70 Pro-
tect, preserve, and encourage all legiti-
mate interests OF every kind.
THE President promised that within
few days he would determine whether his
present engagements would permit him 70
accept the committees invitation"
Beyond Presidents Power.
Commissioner Franklin X Lane. Of the
Interstate Commerce Commission, who
has had frequent conferences with Presi-
dent Roosevelt lately, said yesterday that
the commission would be glad to confer
with railroad men from any section OF the
country with view TO agreeing upon the
character Of additional railway legisla-
ton that would give a greater measure
Of Federal control over railways and at
the same time preserve the interests Of
the railways themselves. Mr. Lane added
that this was the view of the entire COM
mission. II is alleged. no definite plan
has been proposed by anybody.
Oh1cials are well aware Of the prevailing
opinion among men Of business affairs
that the situation now prevailing has
progressed 10 a point where nothing that
the President can do or say viii be effect
i've IN producing return to better c0ndi-
tions. knowledge Of this view causes
some concern among adherents Of the
administration.
Carnegie Indorses President.
All information received at the Treasury
Department yesterday regarding market
conditions was OF more reassuriug ma
ture. and although Secretary Cortelyou
is watching the situation. it is apparent
that he would take 30 further action at
present President Roosevelt eonsuIts
with him frequently and Mr. Cortelyou
was one Of the guests at a small luncheon
party at the White House yesterday.
Another guest was Andrew Carnegie.
who, shortly before going 10 the White
House had given TO the reporters his
views on the railroad situation.
4 absolutely endorse the Presidents
attitude toward the railroads" he said
He is the best friend they have. and
they ought TO realize It The railroads
had better stand with him II they do
not accept his moderate measures they
may be confronted by man in the White
House who will approach the questions Of
the railroads from an entirely different
standpoint. ] regard the Presidents in
huence as 10 the railroads as wholesome
and conservative.
Secretary COrtelyou gave the President
an encouraging report on the success of
the plan to purchase a large amount of
the per cent bonds OF 1907. Up TO the
close OF business Tuesday the purchases
since March a, when the Secretary's cir I
cuiar notice was issued. were S7.040, $50, /
and this amount was increased By l,5l5.- |
80 through purchases that were made
yesterday. The total amount Of these
bonds redeemabie since December l OF last
year is 3794,l50. leaving $102. .961 400 OF the
entire issue outstanding. Secretary Cor
telyOu has given no inumation of his /
plans regarding the redemption Of these [
bonds. beyond his statement that the gov
arnment stands ready TO take them in /
1p TO the maximum amount Of s25, CO., 000 /
He has the power, of course, to redeem 1
the entire issue; but whether he viii do /
50 is a question. Il was pointed out yes 1
,erday that the state of the Treasury s /
1nances is such as to make this feasible /
n the course of a year.