The Cairo bulletin., 1909-01-12
RAILROADS HAVE
DONE VERY WELL
INTERSTATE COMMISSION SAYS
EARNINGS OF 1908 BETTER
THAN NORMAL.
MUST HAVE MORE LAW
To Reach {. n. Efforts
to Adjust Rate Schedules on
Fairer Basis Partly
Successful.

Washington. Jan, 1.-THE Inter
state Commerce Commission today
transmitted to the congress its report
for the year 1903 1t is an exhaustive
document covering every phase of
railroad management, and making a
number OF important recommends
ticns.
Railroad Earnings for 1893.
The report states that the financial
depression from which the country i
now emerging resulted in the diminu.
tion of railway revenues considerably
below the high point reached In 1907.
The banner year in American railroad
history in respect of gross and net
earnings, as well as volume of traffic,
and that in several instances the ne.
cessity for placing railroad proper.
wholly or partially due to the serious
and unexpected decrease in earnings
In view, however, of the widely circu-
ted reports that the loss inflicted up
on the railroads was so severe as TO
warrant universal advance in rates
or reduction In wages, or both, ii Is
interesting to note that the gross
earnings of all railroads for 1908, al,
though $l64,464,94l less than the
gross earrings for 1907, were S9S,8T5}
40 in excess of the gross earnings
for 1906 and $3i2, 2,l5S,231 in excess for
those of 1905, and that the net earn
ings for 1908, although $1l1,051 ,006
less than for 1907 and $59,349,13S less
than for 1906, were S37,G5S,50i in ex.
Indicate that whatever may have been
the fact In individual eases, the rail-
roads of the country, as a whole. dill
not suffer so severely in comparison
with years of normal traffic and busI.
ness conditions as may have been gen.
orally supposed.
The Hartman Decision.
In f. II. Hartman VS.. Interstate
Commerce Commission, decided De.
,ember II, 1908, the Supreme Court
Of the United States held, reversing
he decision of the Circuit Court, that
he appellant could not be required TO
answer certain questions propounde
o him by the Commission. This de.
'ision has a somewhat importan. |
rearing upon the work of this body |
which Congress should understand
The Commission had instituted up
m its own potion an inquiry into
abroad consolidation and combina.
ions which had been prosecuted with
pecial reference to the operations Of
tr. Hartman in connection of the |
Inion Pacific, the Southern Pacific
nd allied interests. In the course OF
his investigation It came ont that the
'nion Pacific in which Mr. Harri
lan was the dominant factor, hal
of.the Chicago & Alton ard
Illinois Central certain very large
locks of stocks, and he was asked
neither he had a personal interest In
he stocks Of these companies pur.
hased by the Union Pacific. ~ 90
cared what the price paid by he
'nion Pacific was. and Mr. Hartman
as also asked in one instance 20
late. in case he owned any Of the
ock thus purchased by the Union
aclfc. what price he himself paid
,r the same These questions he de
incd to answer. and tn this refusal
p is now sustained by the court.
This Commission in administering
lis power Of investigation. which II
is assumed to exercise in the past.
as repeatedly held that the private
salings Of individuals in private mat
rs could not be inquired into. O.
As. however. ruled that it might In
lire 10 the fullest extent into th-
Derations of railroads and the OH
RS Of railroads Tho Union Pacific
.ilroai Is not q private enterprise-it
a public servant discharging ~ tn
gent ~ the government. a publ
melton. Its stocks are worthless ex
,Ut a. they derive value from "a
iarges which are imposed upon the
Iblic for the rendering Of this public
.rvice. ln the opinion Of this Com |
ission. vhen Mr Hartman assumes
lntrol II The Union Pacific raliroaI
3 ceases TO Do private individual t9 /
bat extent and can no longer claim
rejection. which. a. ap rivate persoi |
lgaged in a strictly private pursuii
3 might insist upon Or was our 0Ui1-
20 that b. might properly be regEire
j ssate whether a. an individusf D.
al sold 20 the Union Pacific. which
P controlled. stocks belonging 20 hin
sif AM II 81. that be should furfh, r
p required to stats shat profit D.
al Individually male out % this
q