New-York tribune., 1908-02-01

/
eminent sanction; when il Is no longer POSSIBLE ao
az interstate railway % issue STOCK or ooilIs.
1 when that government makes sure thal tAe piS-
ceeds OF ever stock and bond issue 80 anIo ;h se
/ nlent Of individual or syndicate when WIlen-
tive action OF the government. the physical value
OF one of these properties is determined and mace
known-thete Will be eliminated rom iaaad 1 So
crities that element of uncertainty which lends 10
! them their speculative quality and which has con-
tribated much 10 the financial stress OF ule recent
/ think that fhe federal government must also
assume certain measure Of control over the Phys-
cal operation Of railways in the handLlng Q! lnief
20 establish through routes and joint rates IN or
Ger make this provision effective and IN order
TO promote in Ilnles OF necessity the proper move
rnent OF traffic think il must also have authority
70 determine the conditions upon Wllcn cars s15n
be inteEchanged between different interstate ral-
Sr5 - . .5i-,t 80 - 1articrlsr Instances 70
determine the schedule upon which perishabe COM
In this connection desire to repeat my recon-
traffic associations for the purpose OF conferring
! about and agreeing upon rates, regulations ana
practices affecting Interstate business in which the
members OF the association mutually interested
This does not mean that they SHOULD D. gi.en ne Tle
right 10 pool their earnings or thelr franc. ne ne
law requires that rates shall BE- 50 adjusted as
ties or different species Of traffic. Ordinarily rates
by al competing lines must be the same As ap-
tons Of this country cannot be conducted &C
cordirg 10 law without what is equivalent 70 con-
ference and ayreenla1lr The articles under which
such associations operate should be, approved oy
the commission all their operations should be open
10 public inspS.'ton and the rates Tsgg41'6as on & ana
pr ~ 5fssb9To-,j s3I, INV l he coIT2ssi5n
urge this last provision with the same eaTnest-
IS railway facilities by private capiJal Those IA
1i'ieS VIII oot y adequate un!ess me C5'.'ti -
- - ads believe mat Considering the interests Of
~ public alone ii 5 better TO allow too liberal
ser than TOO Scsnty earnings. lof. 80. , -
-he 4 .s grave danger that oe rsl-yi.E - deco
~ ,+li- Fi. hvy7Ts must r recognized and they
nus be open % he whole public upon equal terms
and u ,on reaz enable terms
WOULD AMEND SHERMAN LAW.
In re+ s-o-ca 70 the Sherman antitrust law.
repeat = rei 4 "a ' i,-s-+ congress as Vel
a. the FenInt oI [hg I-y7. s7,-s 5-Gsress The
ar-erurt th' aIy 70 provide N sWeSp.ns
rrhr;ca!ly- in restraint OF trade as such RESTRAIN!
las been efn, by the courts: mus mus o17rGTas
I6th The pres ent law makes se-1e c3EnoInsIloLS @
-. a.. re, Ia nd as 70 some huge combinations
T-rfcI are r 3th noxious and illegal even II ne @
ssJot o-SlrIt - IS sccassf,li the result may be 70
-l- ,'z- n IN mum benefit to public Even
r5essl-e Of ri @ thereby produced the Ieat gooI
aimed at cam o. De obtained Tor suCn rem se1l 800
ervsion over ne acts OF & th1 eo6in?n mana 4,nropr m ar
forms Of comp Eeltion and IN snort orfj lon
- me sherman act which prohibits all coInona- c
tons Of the ch 3Tacter apoNe - .i-; sl7C5
be done Only a. - se@ffve and thoroughgong super
r,s M hg jr terstate business concerns : u9Ee
iIoIcf af NeS y, ,r in his recent decision N ne 1e
Iig-Ii-,5e- Csc St that the Congress p,ssesS
The power to lin 5,,r }ne 7t fleraI safeguards
l5sT the recJ1rres ice Of ob3oLious practics l ;a
q license nos -h%S y, ,tbods calculated diminish
soenCv and theraf ore ef5eeny and 92 eGen4E 4at n n
.5e T,a-+e-s @the COVER Of Congress IS afnp,e.
,7Ira a Vt not fr sitful in 7esllts rs IS & Xe[s
e.47csIo7,s the ConEr ,ss MY exercise 'he PoN''
--T5rFl rr holds il pos! siSSeN- -. -, ,---r .bs
passage q which he rel9 e9 i +er fefore@are not
connected Bat Bot IN If T5l5 f5e5, liSS enacted would
represent part Of the G tnDs%gn ms ~ great
re- hSlders reaIize tat pIopertT has rs d9Jes
10 IS ----.a~ = they should. the rights Of the
,Eev should less ern-f atIcaIy naEe 5 i fr he
- rHev will exact from rI"I'e = al.I j.. Al. an
Employer the duties whie S.2arq ] o iz' have
faiiaf in precisely this Toi > 81 enIor,2 me Pc
The man VIC r he use that wealth corro-
Ind tie general public tt E pei7a:lcn.. Ia -al.l:r ] ~
~. nan 81 ~,1ra fhe vres ling him OF the
prvileGes which hs IS emu - -,,oo7raTvfr7e t1cra
] ~ge"s['lz- e asgrr or share the responsibility for
.hs failure ,- ar9 TG'reigf ,, beifeve ,fey cam1ion
STOCK MARKET GAMBLING
Go not know whether il is PqSsibe but: II pos G,
eibe il is certa1ny deslia2-- ne ~ - 80
with H:e.tS-lgS - should be measures taken TO
caplta.za.on l's he -Csser 70 rms OF gambling in
sArvfrfas and moo. ties. SG' - aS Ii-afS T.
sales what men 10 T.ot I, I-7 - -, e 5-,S,5itj1s
ne i.-l 1-s and .zr1Iries ,r investment have
10 connection HhaaeTer win Ilfel,a I ~ o. r0 f
or other securities % ccIllilt p on = -- s ~
Speculative snd gambling pun s?S%s r neIe Is Is H9 m
moral difference bel ven gam ~ g., 80
lotteries or On tne raee1rcE e. - "a er-i1s ,t -
80 hr5T Toiitic as the other n KIND, ana n &c
far more difficult subject Win "i-l,.- 70 te1t
ranges So, - an modern Industrial system. and
80 Win mis- business in doing a'Eay with t9e
beLf[ & soP sceSses aud the faiIres Of foreign Iesis
fetors who notably IN 'er7ziil LiN t-i ,4ya
mis- lire. so as not 70 do 4qElhli Lta ~ i[
This matter hy The ledeFa! i r. 5a[isl a
- "a sesl with It the effort should - made, even
10 '-' -rr nc federal government could at least
.a- hz forAiddf7g the use Of the mails teiegreph
-5 f.,--res fuyt as it does in lottery Transactions
STANDARD OIL STATEMENTS DENIED
inclose herewith statement iszqed d., by ne
chief Of tbs y7ureau OF CorPoratl2rs 3A2pe43alA -
.es., made bv slnd behalf Of the agents Of me
Staacal3 on 90 E,5ia E,i l, ,15 >, Conrafrina, an
IN Ne syenf Of the santa Fe Railway Company
13-,-en5iy - Tne STANDARD OIL Corporation and
~ railway company have both nfen iolIi SllllH
lv th. courts Of G. ,minal misconduct: Doll! nave
reer sertealed 10 paw heavy fines, and each mas
issued and published nfoaGe'.sl t1e$e s,,t'eieiiIS
ass-rflng their innoce pce ana dsn91nciEg as IN
proper the action Of tL@ courts ana lures IN col col
elaborate. very ing Tiglis' ana are 9hLu'llott
l.. important particulars. me lgiioNlng lett,[ a-t
1oSI-f 5.9,a NJ l M bi5 55f 5ficaIs Of the aaia Fe
ard sho~ tl@ utter falsily oI NOR pea 81 l5n"
rale Tic similar pa o. ne 9''''af' o' Dong
rl--t-,a..- 81 Justice once of the United States
attorney. District Of ores ores On ,..,..-.. =, ans
Tie President. washington. J., G.: .,....,,. n.-