Bluefield evening leader. [volume] (Bluefield, W. Va.) 1906-1911, 1909-03-06
SHOULD REPEAL SHERMAN LAW

REPEAL SHERMAN LAW
The Railway Journal for March
the folbowl ng interesting
etter from Pre- ident l.. h. Johnson,
OF the Norfolk and Western Rail
way
Roanoke, Va, Jan. 20, 1909.
Editor Railway Journal:
Replying to your letter OF the 4th
instant, | beg TO give you below an
swers TO the questions propounded:
First. What, IN your judgment,
are the three best reasons why rail-
road rates should be increased?
The present rates of railways
should be advanced because of the
TO loving reasons:
a. Decrease in business and in
crease II expenses.
b. Present rates do not yield suf-
hcient revenue to enable carriers to
disburse to shareholders a fair and
reasonable return on capital which
condition would stay the improve
ment and rehabilitation OF lines al
ready constructed, and prevents the
natural flow of capital TO carriers
for extension Of branch or lateral
mes. and also stops construction of
new lines into virgin territory.
c. Credit OF carriers is today
jeopard'zed because OF failure TO
earn sufficient money on basis of
current rates to pay reasonable prof
It to shareholders to insure con-
tinuance thereof in the future.
d. Present rates are not suffi-
GENTLY high I'm many instances to
enable carriers to properly reward
habor for services performed, and
also to yield sufficient revenue with
which 10 purchase and ma ntain
equipment and general facilities for
handling their business with des-
patch and safety to the end OF Civ
ing the public proper service.
Favors Publicity and Frank DEALING
With Public.
Second What method would
you suggest to bring about cordiai
cooperation between the public and
the corporations, particularly the
with the view of creating
harmony in matters pertaining 10
railway leg Station and the regula-
ti1n of rates, assuming that the pub
lie will always be interested in such
To bring about the cordial Good
erat on between the public ana the
corporations, especially ra'lroai:
with view of creating harmony i:
matters pertaining to ra' lway 10, ,is-
iation and the regulation Of rates.
assuming that the pub ic viii always
be Interested in such ma en- mere
5 no channel than can DC more eff
fective than the press, dealing frank
Iy with every subject that is pre-
Sented. ] am also firm believer in
the good results to be obtained By
the railroad officials n the operating
and traffic departments meeting
frequently with boards Of trade and
commercial bodies located along
the line of railroad they represent.
treating shippers and the public in
scn eral in an open and frank man.
ner; at the same time complying
with the laws, so far as they may
1e interpreted.
The Sherman antitrust law should
be repealed or changed so that rar-
road officials can confer together
W thout violating the law, with the
view OF establishing uniform rates.
avoiding discrimination between in
liViduals, and so far as possible. be-
ween localit es-the railroads to
have fulf power to publish reasona-
Die rates 10 be effective on legal no
hcs, subject TO complaint and hear
.ng by the state and federal railroad
commissions, W tn the right to ap-
peal from the decisions of the com
mi sions TO the courts. In this man
7er both the public and the rail
roads W.T. receive fair treatment
Third DO you believe that ma
onal government regulation Of the
ssu'ng 81 railway securities VIII
5trengthen or weaken the securitiesq
Why?
National government regulation Of
ssuins railway lecurities win on
Be whole not benefit security val
1es
There are 40 better or fairsr
Judges or The financial conditions
and requirements OF railways than
DE managers n well operated prom
critics The mere fact OF service
upon government commission does
not constitute expert qualifications
.pec al lines. It is genera II re
.oguized 10 BE- true that government
business not as rule conducted
with he prOmptnegg efficiency and
economy that characterize the az
'airs Of we'll organized corporations
operat ng in compel tive fields. 40
practically trained and experienced