New-York tribune., 1910-01-04
PRESIDENT HEARS
RAILROAD HEADS
REFUSES TO MODIFY
HIS POLICY.
Some Minor Sugges-
taOns-Interstate Commerce
Message Friday.
IFrom The Tribune Bureau

TENS OF the country regarding his recon-
mendations of amendments to the inter-
state commerce law. He was so far un-
able to modify his recommendations to
conform to their views that it is feared
to-day's conference marks the beginning
of a struggle between the administration
and the railroad interests.
Mr.. Taft had hoped that, having ac-
cepted the fundamental principle of fed
eral control of rates and having found
such control promotive of rather than
detrimental to the honest interests of
the railroads, the heads of those insti-
tutions would recognize the wisdom OF
giving at least tacit sanction to the
further legislation which he deems es-
sential to the perfection of that federal
control. In this, however, he was disap-
pointed.
Such minor suggestions as were made
by the men who called on him to-day he
cheerfully accepted, despite the fact that
it will make necessary the postponement
of his interstate commerce message until
Friday But even this spirit of concilia-
tion failed to win for his programme that
approval for which he had hoped
The men who called on the President
to- day, pursuant to an engagement made
for them last Friday by j. P. Morgan.
We're President McCrea, of the Pennsyi-
vania; President Mellen, of the New
York, New Haven & Hartford; President
Brown, of the New York Central: Presi-
dent Baer, of the Philadelphia & Read
ing; President Finley, of the Southern.
and President Lovett, of the Union and
Southern Pacific roads. The conference
lasted about two and half hours. The
railroad presidents brought Lewis Cass
Ledyard, of New York, with them as
general counsel. Attorney General Wick
ersham represented the legal department
of the government
OPPOSE CONTROL OF SECURITIES.
The chief objections expressed by the
railroad men had to do with federal con-
troll of the issue of railroad securities.
which, they maintained, would prove an
insuperable obstacle to the financing of
new construction; to the creation of a
special commerce court and the author
ity with which it is purposed to clothe it,
and to the proposition that shippers
route of their shipments They also
took exception to the proposition that
railroads should be prohibited from
holding or acquiring stock in competing
lines, and this despite the fact that the
President would make an exception in
the case of railroad which prior to the
passage of the act had acquired a ma
jority of the stock in a competing line,
in which case it would be empowered to
purchase such additional stock as it
might desire, provided always that such
requirement, both before and after the
enactment of the proposed law, should
be subject to the limitations imposed by
the Sherman act
The opposition of these leaders of the
railroad world will in no way deter Mr..
Taft from making an earnest effort to
obtain the legislation he deems essential
to perfecting the railroad rate law. The
President has exercised the greatest care
and deliberation in his recommendations
and the bill drawn in accordance there
with by the Attorney General. He has
held more than twenty conferences with
the representatives of railroad and ship
ping companies, has explained his pur-
poses and methods to them, and in a
number OF instances has adopted their
suggestions. AS soon as his purposes
had sufficiently crystalliZed, the Attorney
General prepared bill embodying his
recommendations That bill has been
frequently changed, until now it is re-
garded as nearly perfect as a legislative
measure can be made. Mr.. Taft will
submit his message to Congress and
hold the bill in reserve, awaiting the
pleasure of the national Legislature.
II is the view of the President that the
law providing for federal incorporation
should clearly stipulate the conditions on
which it should be granted and that the
Secretary of Commerce and Labor should
be vested only with the authority to de-
eide as to whether or not the conditions
of the law had been complied with. In
case thew had he would be obliged to
grant the desired incorpora ton, and vice
versa but he would not be compelled or
have the right TO decide whether or not
such CORPORATION was a good or a bad
trust.
THE OUTLOOK IN CONGRESS.
How far the opposition of the rail
road heads will prove effective in Con-
.ress is. of course, problematical. 1t is
already obvious, however, that the con-
eervative element is unwilling to take a
stand in opposition to the Presidents
recommendations The leaders realize
that Mr.. Taft will have the sentiment IF
the country rehind him and that opposi-
tion on their part will afford the Repub-
Ican insurgents precisely the oppor-
tunitv they desire to align themselves
with the White House and in opposition
TO the conservatives on a great popular
issue.
II is a safe prediction, therefore. that.
whatever may be the ultimate purpose
of the leaders with regard to the recon-
mendations Mr. Taft is about to submit.
tbev will not squarey oppose them II
thew decide that Mr.. Taft's propositions
are too drastic and far reaching they VIII
doubtless first seek by diplomacy TO ac-
complish some material modification ana.
that falling will at least adopt some
more subtle means of preventing their
enactment than open opposition. III ls'
however, possible that the leaders WIZ
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