The sun., 1910-06-12
INQUIRY ON VGTVUVD STOCK
GOT TERNWENT COWMISSION TO
FIND OFT ABOIT ".
PrOVlaloR 10 ThSI EHecI 10 &c int the
RAIlrsad BIll TAFT wanted FedsrAI
aupeFVlulOa Sf stsck Issues. bat HAD
10 Ne CORieOt WITH = CSnsPPomlss.


WASHINGTON. June n The creation o
a commission to inquire into the praOtio'
Of watering railroad securities with Z
view of devising a plan oi Eovernmenia
regulation over the issuance Of railway
stocks and bonds 10 TO be incorporate et
in the Administration railroad ball
Al a White House conference TO-DAY
President Taft was informed that II the
cOnferees agreed on the stock and bond
provisions Of the House bill the Democrats
would hGht them 70 a finish and the 70
suit would he that the sessioh would b.
infinitely prolonged. with no certainty
that the Administration ideas on this
subject would and expression W. the
measure a. finally adopted
Those who participated in the confer
encs in addition TO the Presidsnt were
Senators Aldrich and Elkins. Attorney.
General Wickersham. Representative
Mann and Franklin X lane, a member
Of the Interstate Commerce Commission
President Taft sharply directed the
attention Of his callers 20 the fac, that
the Republican national platform Of IOOe
had declared in favor Of an enactment
giving the Government supervision over
the issuance Of railway stocks and bonds
He expressed Il a. his opinion that this
pledge should he redesmed without
further delay.
Representative Mann made Il plain that
he favored the adoption Of the provisions
in the bin passed by the House that
sought to carry ont the platform pledge
senators AIdrioh and Elkins then had
their say. They pointed out that Demo-
cratic senators were bitterly hostile 70
governmental regulation Of the ISSUANCE
of stocks and bonds. hasing their Opposi-
tion on the ground thot such Law would
he an Infringement on the rights Of the
States. Il was pointed out further that
the Republican leadership had practically
made an agreement with the minority
senators that no effort would BE- made
IN Conference 10 restore the capitalization
features that were dropped out Of the
Senate ball This agreement was reached
az a time when the hall a. a whole was
enacted and at a stage when the senate
leadership found Il sXpedient to make
an Akreement with the minority
President Taft eHpreased regret that
any s,Ich agreement had heen made in
view of ths plank in the party platform
"a the subject Of railway capitalization.
u was then that a oompromiss was
suggested by Representative Mann. man
agsr Of the HOUSE cunferees on the rail-
road bill. lie PROPOSED that inasmIch
as Il would b- diHicult Il not impossible
10 force through a capita lizatinn provision
IN the face ~ Democratic oppOsipon In
the senate that commission 6s Gre
ated 10 make an inquiry iutO the sub
ject. After some discussion this idea
met with the approval VI the President
and senators AIdrich aud Flkins
The agreement reached az the White
HOUSE to-day will be incorporated IN
the conference report on the railrOad
bill Whether IL will have the support
- the insurgents In the Senate and the
House remains 20 b. seen Indications
are that the President will be able .,
bring the insurgents " al least the maru
body ~ them. around 20 the support
Of this feature of tho conference report
The conference committee op the rail
road bill will meet tomorrow Great
progress has been made IN the nego-
tiations inaugurated on this measure
by the Ilouss aud senate and no doubt
il expressed that q report will be- made
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