The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1909-09-20
NO GOOD TRUSTS.
Continued from Page one,

state commerce commission the abso
lutte power to fix rates in advance ant
CT their own initiative, and withou
complaint filed and investigation n adj
as is done in some of the states.
think it d great deal better to proceed
cautiously in this matter and feel oul
way to a satisfactory act which shall
accomplish the purpose without toe
drastic or radical action.
| Under the interstate commerce law
a new rate classification is to be filed
With the commission. 1t is proposed
how to authorize the commission tC
postpone the date that such new rate
classification is to take effect, provided
that within 80 days of the date of the
order, a complaint be filed that such
rate of Classification is unreasonable OF
IL just. 1 am inclined to think that
this is a fair change in the provisions
CT the law. 1t gives to the public the
feet them injuriously investigated before
they go into effe ct as it does the rail
way by appeal to the courts, to have
| TIE order of the commission subjected
to investigation and he:rtag. Railroads
ought not TO be permitted to change
rates unless they can give reason for
Control Rules and Regulations.
"a third amendment to the act
should provide that the commission
may by order suspend, modify or an
rul any changes in the rules or regu-
lations which impose undue burdens
en- shippers. No doubt it ought to be
left with respect to the power of the
commission on such a subject, because
the rules and regulations of a railway
are the means by which injustice may
be done to the shipper. 1t would seem
we'll to empower the commission to
compel connecting carriers to unite in
forming a through route and to fix the
rate and the apportionment thereof
among the carriers. The commission
should also be empowered to prescribe
the rules and regulations under which
the shippers shall have the privilege
TO designate the route over which their
shipments shall be carried to the des-
tination beyond that of the first car
rier.
Reform in Stock Owning.
Another most important amend
ment of the interstate commerce law
part of which was specifically
promised in the Platforms a
prohibition against any interstate
any competing railroad in the future
and a further provision that no rail-
road engaged in interstate commerce
shall after certain date hold stock
in competing railroad; and the
further amendment that after the
passage of the amending act, no rail-
road company engaged in interstate
commerce shall issue any additional
stock or bonds or other obligations
except with the approval of the COM
mission, based upon finding by the
commission that the same are is
sued, first, for purpose authorized by
law, and second, for a price not less
than par for stock, and no stock and
not less than the reasonable market
value for bonds such price being paid
either in cash or in property or in
services and If in property SER
vices then at the fair value thereof
as determined by the commission.
"By these provisions enforced with
reason and drawn with view not to
be too drastic with railroads in the
beginning we shall gradually abolish
union of competing roads by one road
owning the stock of another; and we
shall prevent the over-1ssue OF stock
and bonds SO as to prevent watering
and to keep the railroad efficient for
the service for which it was intended |
"In addition to amendments to the |
law which are looking to a rather
more drastic regulation of railroad |
rates than heretofore, another Prov /
sion should be added by which rail- |
roads may be permitted to agree upon |
traffic rates and make contracts with |
respect to rates that shall not be pool |
ing contracts, but shall constitute |
agreements as to rateS-provided al |
ways that such agreements shall re-
ceive the approval of the interstate
commerce commission. In this wise
the operation of the antitrust law
against traffic agreements between
against their absolute prohibition
would be substituted a requirement
that such agreements shall meet the
approval of a properly constituted tri-
bunal l.
''This brings me to the question of
the antitrust law. While we have not
thrashed the whole matter out so as
to reach a definite conclusion, I am
strongly inclined to the view that the
way to make the antitrust law more
effective is to narrow its scope some
what, so that it shall not include in Its
rohibition and denunciation as
crime anything but a conspiracy or
or contract entered into
" 18th actual intent to monopolize or
suppress competition in interstate
trade.
cat the common law all the con-
tracts in restraint of trade, except
hose which were called reasonable,
The courts would decline to enforce.
The Antitrust Law and Contracts.
"The antitrust law denounces such
contracts. when in restraint of inter-
state trade as criminal, whether made
With intent to monopolize or to sup
press competition or without intent to
10 either. The theory seemed to be
hat a contract in restraint of inter
state trade tended to monopoly, and
therefore should be denounced, be-
cause of its tendency, whether there
was any actual purpose on the part of
he person making it to monopolize or
suppress competition or. not.
This feature of the present anti
rust law has, it seems to me. weak
med its force because it has seemed to
BRING within the condemnation of the
aw contracts and other arraignments,
" hich were actually innocent in their
haracter. and which were not includ-
ID in those various combinations
which it was the real intent of the law
20 suppress
eff the crimes denounced in the law
we're confined to combinations, con-
,pira cies and contracts made with in
ent to monopolize or partially mo-
lopolize interstate trade or to sup
press competition in interstate trade,