The Washington herald., 1910-06-06
WALL STREET NEWS
Road Managers UnwiSe in
Opposing Commerce Law.
BELIEVED CONFERENCE LEGAL
Relied on Statement in Taft Speech
Of TIVE Weeks Ago that Joint
Agreements Were Not Considered
Violation of the Antitrust Law.
Roads Net Allowed TO Recoup.

New York, June 5-The event has
proved that It would have been the wisest
oourse-s course that so far as can be
seen is still perfectly open-on the part
of the Western railroad companies In
making their proposed advance in freight
rates If they had individually notified
the Interstate Commerce Commission of
| their decision so 10 do instead Of taking
this action through the Western Trunk
Line committee and specifically by fling
all the notices at the same time by a
| single agent at Washington.
On the other hand it is only the event
that has proved this, that is to say. the
railway companies were perfectly tusti-
ned In view of the attitude assumed by
the government in the past and by A
long course OF previous and undisputed
custom in presuming that no objection
would be made by the government to the
manner selected. The Western Trunk
Line committee has been in existence
for years, its meetings have openly taken
place, the necessity for its functions has
been always understood and the govern
ment has never lifted It's hand against
1t. Only two weeks ago the President Of
the United States declared In a public
speech that no one would ever thinl, of
bringing a prosecution under the anti
trust law against the numerous FONT
agreements that the railroads were maxi
ing IN many matters
Conferences Necessary.
A change in railway rates over a broad
section OF the country requires as a
matter of course conferences on the sub
ject by the different railway managers
concerned. such conferences in no wav
involving unfair discriminating or other
unjust treatment OF shippers and having
only for their object a harmonious adj
justment Of rates in the interest of ship
pers; and 1t is impossible to conceive
how any one can deny that if the anti
trust law Is held to apply to the different
railway traffic associations acting in
such cases as those now under discussion
then the Hepburn rate law, whose sne-
cific object was to compel the railroad
companies 10 stop rate cutting and act
in harmony with each other. Is unworl-
able.
II appears that up to a very short time
before the new freight tariffs were to
take effect the government did not AZ ali
mediate any legal attack upon the con-
NSal OF dCtlon IN question. But at the
last moment a ciamor was raised in
Washington chiefly proceeding from the
so-ealled 'insurgent" section OF the coun-
try and the government yielded 70 Il
The conclusion generally entertained In
the financial district is almost unavoida- |
bic that the government really has no |
settled policy in all these matters but |
Is following shifting and vacilIating
course dictated only by the political ex- |
pediencies of the moment.
1t Is the general aspect of the situation /
that is regarded more seriously in Wall /
street than anything else. Disa ppoint- |
ment and indignation aIa poor words 4. /
express the feeling there over tha fact /
that ignorance and selhshuess nrevau "a
such an extent with the people In large
part OF our country that .hey aro moi
only unwilling to accord fair treatment
to the railways that serve their section
but are unable to perceive that their re-
fusal to do justice to the railways Is IN
juring themselves and the whole Of the
United States in the most material way.
Not Allowed 10 Recoup.
The gist of what Is going on in TITS
respect seems to be this, that the people