The Washington times., 1908-01-31
Sherman Anti-Trus Law Should Be Modified
and Federal Supervision of Interstate
Corporations Established.
Executive Defends Course and Tells of Efforts
of Corrupt Wealth to Undermine
and DiSCredit Policies

purchases Of stock CT other securities or
commodities on margin IO- speculative
ami gambling purposes. There is 10
lupTal difference between gambling az
ca --5. or IN lotteries, OF on the race
track, and gambling iu the stock mar
kGt. One method IS just rs Ieru.CIou5
TO the body Ioliuc as the ether IN KIND.
and in decree the evil worked Is lar
greater. But if is o Tar more difficult
subject with which 10 deal.
The great bulk Of the business trans
acted on 'he exchanges Is rot only
legitimate, but is necessary 10 the work
ing OF our modern industrial system,
and extreme care WCull have 10 ls
taken not 10 interfere with this busl-
ness IN doing away with the bucket
shop type Of operation. " C snouiI
study both the successes and the 1all-
ures OF foreign legislators who. notably
IL Germany. have worked along this
line, Sc as not 10 do anEt ing harmful
Moreover there is special uInculJy IN
dealing with this matter by The Federal
Government IN a Federal republic lka
ours But Il Il lz possible TO devise e.
way to deaf with il tho etIgr- should Dr.
made. even If only ia cautious and
tentative way.
It would seem that the Federal Gov
eminent could at least act by IJTBidqlDg
the use OF the mails, telegraph, and
telephone wires for mere gambling IN
stocks and futures, just as Il does IA
lottery transactions.
Shows Corporation Trickery.
Iuclose herewith statement issued
by the Chief OF the Bureau OF Cor
poratiOns Appendix j. In answer 10
certain statements (Which / also in
cIose) made by and on behalf OF ths
agents Of the Standard OIL Corporation
appendix p and a letter Of the Atto--
uey General appendix 3 containing an
answer 10 certain statements. also in
do 20 "a
Santa Fe Railway Company (Appendix
q. The Standard OIL Corporation and
the railway company have both been
found guilty by the courts Of criminal
misconduct: both have been sentenced
To pay heavy fines. and each has issued
and published broadcast these state
Inents, asserting their innocence and
Gen0unc.ug as improper the action OF
the courts and juTies in c0lViCtiug them
of guilt These statements are very
elaborate. are very ingenious and are
uu-rU-h.ul IN important particulars
The following letter and Enclosure
from 2Tr. Heney sufficiently illustrate
the methods OF the high officials Of the
Santa Fe and show the utter falslty
pela of the Standard oil being equally
without foundation
Department Of Justice.
office Of the United states Attorney,
District or Oregon,
Portland January IT, 1908.
''The President Washington, u. G.
Dear Mr. Roosevelt J understand
that Mr.. Ripley. Of the AtchisQn. To-
peka and Saure Fe Railway system,
has commented with some severity ug-
on your attitude toward the payment If
rebates by certain trauscouUneulal
railroads and that he has declared that
he personally never knew anything
about any rebates being granted by his
road. inclose YOU herewith
copy Of a letter from Edward Cham
bers, general freight traffic manager Of
the Atchis0u, Topeka, and Saute Fa
Railway system. TO 1Ir. q. A. David
son, auditor Of the same company,
dated February = 1907.
This letter does not deal with in
terstate shipments. but the constitution
OF the State Cf California makes the
payment of rebates by railroads a
felony. and Mr.. Ripley has appareutI-
not been above the commission Of
crime TO secure business. You are az
/ liberty 10 use this Enclosure in any way
I that you think IL can be Of service %
! Continued on Ninth PageD