Willmar tribune., 1908-02-12

for such real good can come only By Q
thorough and continuing supervision over
the acts Of the combination in all its
parts. 80 as to prevent stock watering,
improper forms Of competition. and, In
short, wrongdotng. generally. The law
nmon'd mam &c CORRECT r; that portion Of the shsr
OF the character above described. whether
they be reasonable or unreasonable; but
TINS should be done only az part of z
fective and .thoroughgoing supervision by
atoms Of the big interstate business con-
DC not know whether 1t. is possible.
hut II possible, It Is certainly desirable,
that In connection with measures to
restrain stock watering and overcapital-
to prevent at least the gr0sser forms of
gambling in securities and commodities.
such as making large sales Of what men
ket. Legitimate purchases Of commodi-
ties and Of stocks and securities for in
vestment have no connection whatever
with purchases of stocks or other securi-
There is no moral difference between
gambling at cards or in lotteries or on
market. One method is Just as perni-
cious to the body polite as the other in
kind. and in degree the evil worked is
f,h*sre far *sreatsr But It is far more difficult
bulk of the business transacted on the
exchanges is not only legitimate. but is
necessary to the working of our modern
would have to be taken not to interfere
with this business in doing away with
the bucket shop" type Of operation; We
failures of foreign legislators who. not
ably In Germany, have worked along this
line. 50 as not to do anything harmful
Moreover, there is a special difficulty in
government in a federal republic like
way to deal with it the effort should be
tentative Way. t'y It would ~ . seem sns that the the
federal government could at least act
by forbidding the use Of the mails. tele-
graph and telephone wires for mere
gambling In stocks and futures, just al
1t does In lottery transactions. T..
Santa Fe President Had ,
Guilty knowledge Of Relating
I inclose. herewith a statement issued
by the chief Of the bureau of corpora
t91s SARpenx SicRp p in snsTeE to certain
by and on behalf of the agents of the
Standard Oil corporation Appendix y,
and letter of the attorneys general (Ap-
tain statements, also inclosed. made by
the president of the Santa Fe Railway
Company (Appendix ~. The Standard
Oi1 COI anu Tic runway 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 statements. asserting their inno-
cence and denouncing as improper the
action of the courts and juries in con-
victing them of guilt These statements
| are very elaborate. are very ingenious.
| ticulars. The following letter and in
closure from Mr.: Heney sufficiently illus:
trate the methods of the high officials of
the Santa Fe and show the utter falsity
| Of their plea of ignorance. the similar
| plea OF the Standard OIL being equally
"Department of Justice. Office Of the
United States Attorney, District Of Ore
| gOn.
..,, n,, Portland; January II, 1908.
Dear Mr.. President: I understand that
Mr.. Ripley. of the Atchison, Topeka &
Santa Fe Railway system, has comment
| ed with some severity upon your attitude
transcontinental railroads and that he
| has declared that he personally never
| knew anything about any rebates being
| granted by his road. Il in
! close you herewith copy Of letter from
manager of the Atchison, Topeka & San
| "a Fe Railway system, to Mr.. G. A.
| Davidson. auditor of the same company.
| dated February n, 1905. !.
This letter does not deal with inter;
state shipments but the constitution OF
the state of California makes the pay
| ment of rebates by railroads a felony
! and Mr.. Ripley has apparently not been
business. You are at liberty to use
it can be Of service to yourself or the
| Sincerely yours.
l sFR ANC1S r HENEY -