The Cairo bulletin., 1910-01-04
RAILWAY HEADS
CALL upon TAFT
SUCCEED IN SECURING ONLY
CHANGES IN HIS FRO
POSED MESSAGE.
IMPORTANT CHANGE S
To he Suggested by Him Regarding
Interstate Commerce and Anti.
Trust Laws Amendments,
q ~
Despite Mild Protests.

Washington. Jan. 3.-Following a
conference with the presidents of six
of the great railroad systems, Pres
ident Taft this afternoon announced
that he would split his message deal
ing with Interstate commerce and the
antitrust law amendments, into two
parts. The section in reference to
trusts will be sent to congress Thurs
day. The section dealing with inter
state commerce Law will be deferred
until Friday. special message on
the conservation of natural resources
is expected to go to congress Mon.
day 1t was said late this afternoon
that the subjects of the interstate
comerce and the antitrust amend
ments would probably receive greater
attention Ii divided into two parts,
neither of more than 1000 words.
AS a result of the call of the rail-
road presidents it was said that only
a few verbal changes would be made
in the draft OF the interstate COM
merce message, and that these would
be only with the end of clarifying
the meaning Of the recommendations
Taft found that the railroad men pre-
sented their views considerably
While deprecating the idea of any
legislation at the present, when con.
ditions in the railroad industrial
worlds are righting themselves after
a period of depression, they did not
seek to deter the president from send
ing In his message. They devoted
themselves to more or less specific
objections to the bill prepared by At
torney General Wickersham which
forms the text OF the message. The
president, 1t is declared, will not at
tempt to force Wickersham's or any
other bill upon congress. The rail-
road presidents admitted their objec
tions were general in their appiica-
tion to all amendments to the inter
state commerce act.
Morgan Framed interview.
The president had made his posi-
tion clear to j. Pierpont Morgan in a
brief Interview Friday. Morgan ar
ranged for today's conference and adj
vised the railroad men to confine
themselves to suggestions of changes
In the amendments rather than to at
tempt to influence the presidents
general course. Taft let yitebe known
that he expects congress to adopt his
recommendations and suggestions at
this session, thus carrying out the
promises of the Chicago platform.
Those who attended the conference
today were Presidents McCrea, of the
Pennsylvania; Lovett, of the Harri-
man Lines; Grown, of the New York
Central: Mellen, of the New Haven;
Baer, of the Reading; Finley, Of the
Southern. They brought Lewis Cass
Ledyard, of New York, as general
council. Wickersham represented the
legal department for the government.
One change which Taft agreed to
make in his recommendations has to
do with the language of proposed
amendment prohibiting railroad
company from acquiring stock or hold
ing stock in competing railroad af-
ter given date. 1t was claimed that
the wording of this was such that 1t
might apply to lines like the New
York Central and the West Shore, the
latter of which has been for many
years a New York Central line,
Taft spurns Suggestions.
The law, as Taft will suggest 1t
will provide that where a railroad
owns so per cent or more of the stock
of another, 1t may acquire the re
mainder. This would afford protec
tion to the minority stockholders, fol
II a railroad owning majority Of the
stock were prohibited from acquirins
more, the minority would lose theil
only probable purchaser
Taft listened to the railroad pres
idents for more than two hours, ant
practically informed that that ht
would not alter his basic recommen
dations. The proposed interstate
commerce court of five members tt
consider ,peals from the interstate
commerce commission with appel
only to the supreme court of the uni
ted States, was particularly objected
to by the railroad representatives.
This recommendation, however, will
remain In the message.
The railroad presidents objected
seriously to the proposed restrictions
upon issuance of stocks end bonds
and short terms notes. Tat will rec
ommend that no such securities bt
issued In the future without the ap
proval of the interstate commerce.
commission The railroad president
objected also to the amendment gfv
ing shippers the right Of selectinl
through route Of shipments.