Newark evening star and Newark advertiser. [volume] (Newark, N.J.) 1909-1916, 1910-04-01
RAILROAD BILL,
AMENDED, NOW
BEFORE HOUSE
Continued from First Psge.)

-
in the substitute bill reported by your
committee are of even greater i'm
portance. While they do not impose
undue burdens upon railways of the
country or unduly interfere with the
power of the railway managers for
the proper operation of the roads, yet
they do confer upon the shipping pub
lie, the investing public and the people
at large benefits of tremendous value"
Referring to the commerce court, COW
cred in the first three sections Of the
bill, the report says it is proposed to
centralize the existing authority and
Jurisdiction of circuit courts in one
commerce court, but without enIarg-
ing such jurisdiction or authority. The
present jurisdiction of the United
States courts to set aside Interstate
Commerce Commission orders is be-
lieyed by many to be limited to the de-
termination of jurisdictional facts and
TO the question OF eonf1scation by the
taking of property without due COM
pensation.
An inhibition against purchase or
lease of capital stocks of a directly or
substantially competitive railroad or
water line is made in section twelve,
which also prohibits the same person
serving on competing d~irectorates. It
permits any corporation desiring to ac-
quire interest in another similar cor.
poration to make a preliminary agree
nlent and then file petition with the
commerce court for permission to carry
out the agreement. The committee,
however. is considering reporting a
committee amendment to have the petit
ton filed with the commission instead
of with the commerce court.
Railway security propositions are
embodied in the concluding sections.
They prohibits railroads from Issuing
any stock or bonds except upon applica-
ton to the commission, which is to
specify the respective amounts OF
stocks, bonds, etc, authorized to be
issued for the respective purposes 10
which the proceeds are to be applied
and stating that the ~price-their rea-
sonable value-at which such secnr-
tiles may be sold.
The commission is authorized to is
sue certificates in relation to stocks ana
bonds and penalize officers or stock
holders who assent TO prohibited issues.
SOiiiiion CdIil6IS are authorized TO
enter into agreements specifying
freight classification and passenger and
freight transportation charges, not
withstanding existing laws, including
the Sherman antitrust law, if a copy
of the agreement in form and detail
prescribed by the commission is filed
with that body within twenty days
after it is made and at least thirty
days before the classification or charge
goes into effect. The commission, how
ever. is vested with full authority in
the matter and may suspend their TAX
ing effect.
The carriers are expressly prohibited
from making any agreement for pool
ing or division of earnings, under pen
atty. A long and short haul is en-
braced in the bill, prohibiting a greater
rate for a shorter thar a longer dis
lance over the same line in the same
direction, the shorter being within the
longer. or from receiving a greater
compensation as a through rate than
the aggregate of the local rates,
though special exceptions are author
lied.
Other sections of the bill forbid re-
bates, enlarge the scope of complaints,
authorize the commission to establish
through routes and joint classiica-
tons and rates; though exempting
water traffic and street electric pas
senger railways not engaged in general
freight business, and call for reasonable
facilities, representation in court pro-
ceedings, etc.
All of the minority members of the
in a separate report, OPP
pose the commerce court. the change
in the law requiring notice and hear
ings on restraining orders and the pro-
vision legalizing agreements among
if filed, even if not approved
by the Interstate Commerce Commits
sion. Further, they think the COM
merce court should not be authorized
to legalize consolidation by permitting
the acquisition of one competing line
by another.
They condemn the manner in which
the bill was introduced. THE executive
department having drawn bills and Sc
TO introduce them in
each house." They object to the re-
peal of the proviso in the ''aet to regu-
late commerce" which forbids applica-
ton of the act to interstate transpor-
With the exception of Mr.. Sims and
Mr.. Russell, the minority condemn the
provisions. as to competing lines n
stocks and bonds as an u~nwarranted
interference with local authority and
calculated to operate in favor of
established lines. d-iseouraging new
lines and preventing further develop
in sections which need more ia
~cilities.