Abilene weekly reflector. [volume] (Abilene, Kan.) 1888-1935, 1910-01-13

thar declares N tAv0r ~ nlch notIo1a
LEGISLATION and suporvisicn e. will pre-
/ vent the future ovsF-lugus % slociB, and
/ bonds By Interstate carriers. and IN ordel
/ 10 carry out its provisions recommend
| Inc enactment Of q law providing thai
10 railroad corporation nubjsct to the In
rvrstste commerce act shall hereafter FOL
any purpose connected with or relating
10 any part OF its business governed by
said act, issue any capital stock without
| previous or Simultaneous payment to II
| OF not less than the par value Of such
stock. or any bonds or other obligations
Except notes maturing not more than
ono year from the date OF their issue).
without the previous or simultaneous pay.
ment to such corporation Of not less than
the par value Of such bonds, or other OBJ
LEGATIONS, or, II issued at less than their
par value, then not without such pay
ment Of the reasonable market value Of
such bonds or obligations rs aacertained
by the Interstate commerce commits
sion; and that no property, service.
or other thing than money. shall be
taken in payment to such carrier cor
poratlon, Of the par or other required
price OF such stock, bond or other obliga-
ton, except the fair value OF such prop
erty, services or other thing ascertained
w tu1 COLllItubotOhp 1hN eh1N DeSh ~
shall also contain provisions to prevent
the abuse by the improvident or improp-
or issue OF notes maturing at period
not exceeding IL months from date, In
such manner as to commit the commits
sion to the approval Of a larger amount
Of stock or bonds In order to retire such
notes than should legitimately have been
retired.
Such act should also provide for the
approval by the interstate commerce COM
mission of the amount OF stock and bonds
to be issued by any railroad company
subject to this act upon any reorganiza-
ton, pursuant to judicial sale or other
legal proceedings. In order to prevent the
issue OF stocks and bonds to an amount
in excess of the fair value of the prop
erty which is the subject Of such reor-
ganization.
Would Prevent Evil Practices.
I believe these suggested notifications
in and amendments to the interstate
commerce act would make 1t complete
and effective measure for securing rea-
condolences Of rates and fairness of prac- |
tees In the operation Of interstate rail- |
road lines, without undue preference to
any individual or class over any others;
and would prevent the recurrence of
many Of the practices which have given
rise in the past to SO much public In
convenience and loss.
BY my direction the attorney general
has drafted bill to carry out these
which will be fur
nished upon request to the appropriate
committee whenever 1t may be desired.
In addition to the foregoing amend
ments of the interstate commerce law,
-
should be given the power, after hear
Ing, to determine upon the uniform con-
8truction Of these appllances-such as sill
steps, ladders, roof hand holds, running
boards and hand brakes on freight cars
engaged in interstate commerce-used by
the traInmen In the operation Of trains,
the defects and lack Of uniformity IN
which are apt to produce accidents and
injuries to railway trainmen. The won
lerfnI reforms effected in the number of
lwitchmen and trainmen injured by coup.
ing accidents, due to the enforced in
reduction Of safety couplers. II a demon
Itrati0n Of what can be done II railroads
Ire compelled to adopt proper safety
appliances.
The question has arisen in the opera
ion Of the Interstate commerce employ
RS liability act. as to whether suit can
70 brought against the employer COM
,any in any place other than that Of its
lone ONCE. The right to bring the suit
lnder this act should be as easy Of en-
'orcement "a the right Of private per-
ION not In the company's employ to sue
m an ordinary claim, and process In
uch suit should be sufficiently served II
lpon the station agent Of the COMPANY
lpon whom service Is authorized ID made,
o bond the, company in ordinary actions
rising under state laws. Bills for both
idered by the house of representatives
nd have been passed. and are now be-
ore the interstate commerce committee
{ the senate. I'earnestiy urge that they
o enacted into law.