Manchester Democrat. [volume] (Manchester, Iowa) 1875-1930, 1910-01-05
rail- MAGNATEs'
MISSION FUTILE
;aBxxs y
Protest Against Proposed Amend.
ment to Rate Law
FAIL TO CHANGE MESSAGE
Taft viii Send Two Communications
to Congress, One Dealing with
Commerce, Other with
Trust Acts.

Washington, Jan. 4.-Ths six rail
way presidents who came to the White
House to protest against the proposed
amendments to the interstate COM
merce act did not succeed in bringing
the president to their way of thinking.
and practically no change will be
made in the special message on the
subject.
The railroad men seemed rather de.
jected when they left the White House.
and it was inferred that their mission
SO far as holding up the presidents
special message was concerned was q
failure. ,5,
viii Split Message, sa,s,
Following the conference, President
Taft announced a change Of program NJ
in the sending of his message dealing
with Interstate commerce and anti
trust law amendments to congress-,
The message will be split into two
parts.
The section dealing with trusts VIII
be sent to congress at noon Thursday.
The section dealing with, the inter-
state commerce law, In which the rail-
roads are directly interested, will BE-
deferred until Friday noon. s's
Road Presidents Protect. aas
As result OF the call Of the ran
road presidents 1t was said that only
q few verbal changes would be made
In the draft of the message dealing
with the interstate commerce law, and
that these would be only to the end Of
clarifying the meaning OF the recon.
mendations.
President Taft found the railroad
men most considerate in presenting
their views. While deprecating the
idea of any legislation at all at this
time, when, they declared, conditions
in the railroad and industrial worlds
are righting themselves after two
years Of moreso or less depression, they
did not seek to deter the president
from sending in his message. They
devoted themselves to more or less
specific objections to the bill prepared
by Attorney General .Wickersham,
which forms the text Of the message.
The president, 1t Is declared, will not
attempt to force the Wfckersham or
any other bill upon congress.
What Taft VIII Ask.
According to those in close touch
with the White House. Taft's special
message will urge q national incorpo-
ration law to provide:
For voluntary incorporation.
For supervision by the bureau Of
corporations Of such combinations as
secure national Incorporation.
For control by the bureau Of corpo.
rations of all issues OF stocks ana
bonds which shall be paid for in cash,
| property or services.
Prohibition Of a corporation to own
I stock in q competing corporation.
For annual reports covering the
financial condition, the business or.
ganization and corporate transactions
-of the corporation.
For the safeguarding Of business 20
crets. while. at the same time. provid.
ing for the publication of all facts 90
far as they may be In the public IN.
terest.
Thinks Cure 10 Offered.
The presidents belief is that such .
law will insure efficient regulatlco in
1.-THE interests Of the public. eradicate
| the trust evils, prevent q monopoly
and produce fair competition.
Mr.. Taft's conclusions are that no
! amendment to the Sherman anti.tfust
law is necessary and that Il 10 the
duty Of the executive to enforce the
law, but II this be done, as is his in.
l-tention. panic or commercial chaos
!. may ha nrecinitated