Albuquerque morning journal., 1910-12-01
BIG SHIPPERS
TESTIFY At
HEARING
ALL AGREE THAT FREIGHT
RATE RAISE Is UNJUST
Counsel for Meat Producers
Declares Railroads IN Foul
States Are Over Capitalized
to Extent of $500, 100000,

IBy Morning Journal Special Leased Wirel
Washington, Nov. 30,-Testlmony
in the eastern trunk line freight adj
vance case was virtually concluded by
the interstate commerce commission
today after many witnesses for the
shippers had agreed that the pro-
posed increases would localize COM
petition, hurt the western market for
eastern goods and otherwise seriously
interfere with their busines
The pending suspension or the pro-
posed advances is until February,
and. in the meantime, on January
9Th, the arguments Of counsel will be
made. The commission may be pre-
pared to render its decision by the
expiration OF the present extension.
There was Q steady run OF wit
nesscs today in support of the snip
per's protests They included heads
Of the WESTINGHOUSE Air Brake COM
pany Of the Railway Business asso-
citation, Of the American Locomotive
company and of shoe and leather,
drug. cotton goods, and other enter
prises.
clifford Thorne of WASHINGTON,
Iowa. state railway commissioner
elect. counsel for the Corn Belt Meat
Producers association and the Farm
er's Grain Dealers association, con-
tended that IN four states alone the
railroads had been capitalized by
$500. 600 This was based on
statistical summary Of the actual
physical valuation Of iS5 properties.
having combined capitalization OF
more than $1,000, 100000.
Mr.. Thorne contonded that railway
net earnings have been Increasing
al nj 81
the credit Of the roads was good. He
argued that the only proof offered
bv the railroads to support their
argument was that they could not
market four per cent bonds az par
an ability which he regarded as hN
no means indicative Of bad credit.
He said railroad securities are mere
dasira BILE today than fivss ten, fiiteen
or twenty years ago. and command
higher market prices than those oil
other public utilities or Industrial
companies.
'Tell your troubles to the com
missioner. was the only consolation
president John Lawrence of the
Lawrence company of Boston, and
New York testified he received from
the railroads when he tried to talk
to them about advances which meant
$4,000 increased cost annually to
his cotton piece goods business
Edwin f. Fcbes of Boston, candy
manufacturers contended that candy
is necessity and not luxury. Az
torney Butterfield Tor the New YoI
Central lines forced him to say that
he saw no reason why sugar, unai :
fected in the proposed advance ana
a bio factor in the candy business
should not bear its fair share Of the
increase.
He said the increase would take
off half of his quarter of cent
nrofit on the six and eight cents q
/ bound candy. and that in the east hls
candy goods jobbed at 50 and ~
I cents a pound, were sold by retallct'
at from 80 cents to sl.50 pound,
Charles L. Swartz, OF St. Louis
representing the National and West
ern Association OF Sshoe Wholesalers
testified that the Increased cos
4 would be put upon the dealers an'
/ that it would ultimately reach tn,
/ consumers on certain medium an'
| low grade shoes. He referred to th'
| old rebate ''plumsn which the rail
| roads gave favored shippers until TN
|