Arizona republican. [volume] (Phoenix, Ariz.) 1890-1930, 1907-02-27

nervousIv said: 81 think il has stop
ped. | don't think we have any more
i would go on if l thought we could
realize something more than we have
got from those securities. | would go
on and buy some more things
Mr. Lane: "Supposing YOU concen-
trated two or three more. You
might take some other line and go
right into New York;"
Mr.. Hartman: Suppose we had a
line from New York to San Francisco.
suppose that is what YOU mean;
would It not be a good thing-not that
we have any idea Of doing it-but
would it not be a good thing?"
Mr.. Lane: "Supposing you got the
Santa Fe?"
Mr. Hartman: You would not let
US get it,"
Mr.. Lane: How could we help ito"
Mr. Hartman: 81 think you would
bring out your power to enforce the
conditions of the Sherman antitrust
act pretty quick. II YOU will let us l
will go and take the Santa Fe to-
morrow"
Mr.. Lane: "You would take it to-
morrow?"
Mr.. Hartman: "Why, certainly I
would. / would not have any hesita-
ton. II is a pretty good property"
Mr.. Lane: "Then it is only the
restriction of the law that keeps you
from taking it?"
Mr.. Hartman: 81 would go on as
long as l lived"
Mr. Lane: "Then after you had got
ten the Santa Fe. you would take the
Northern Pacific and Great Northern
If you could get them"
Mr. Hartman: "If you would let
me"
Mr. Lane: "Your power would
gradually increase as YOU took one
road after another So that you might
spread not only over the Pacific coast
but spread out over the Atlantic?"
Mr.. Hartman: Yes. but hasn't
your organization increased its pow
err"
Mr. Lane: Undoubtedly st has.
That is what | am coming to. Do YOU
think the law itself should intervene
and should restrict you to using mon
cy raised for railroad purposes. raised
on railroad securities TO the actual
improvement of that railroad or should
you be allowed to use it for the ac-
quisition of other railroads."
Lane-'Tou want the powers Of the
commission still further increased
Hartmann cannot say | do, un-
less we have our powers increased"
Lane-"You want your powers IN
creased so that you can combine; you
want us given power to insure rates2''
Harriman-"Yes. to regulate you
should go hand and hand with US.
There is no other country in the world
where business interests are so antas-
onized by the government as this"
Lane-'Where Is there another gov
ernment in the world which has given
so much land and money to the rail-
roads?"
Harriman-"But there is no country
where the railroads have improved
the country so greatly as this"
Lane-"Is it not a fact that every
regulative order on the railroads is the
result Of some policy pursued by the
railroads themselves
Hartmann believe you are right.
| think the railroads themselves are
more To blame than any other factor
for the condition that exists today,
antagOnismS between people and legis-
latures and the railroads themselves. I
think we should be allowed To use and
acquire other railroads under proper
regulations. As the law exists the rail-
roads are prevented from consolidat-
ing or combining. Take for instance,
the Burlington. the Great Northern
and Northern Pacific. 1t was not a
good thing for them or for the Great
Northern and Northern Pacific to buy
all the stock and eliminate from the
system $1,000 or 5000 small stock
holders. That is what they did. They
turned these small stockholders from
stockholders into creditors. so that
there were eliminated from the de-
velopment business on the lines Of tine
railroads. They did not care as long
as they get interest on the bonds"