The Julesburg grit-advocate., 1910-01-14

the order Of the eommissioa reducing
such rates are adirmed. II may be doubt
ed how effective this remedy really L.
Experience has shown that many. per-
haps most shippers do not resort TO pro-
ceedin4s to recover the excessive rates
which they may have been required to
pay. for the simplA reason that they have
added the rates paid to the cost Of the
goods. and thus enhanced the prics there-
OF to their customers. and that the public
has in effect paid the bill On the other
hand. the enormous volume OF trsnspor-
tation charges. the great number OF sep
arate tariffs filed annually with the In
terstate commerce commission. amouat-
ing to almost 800. 80. and the impossible
ity OF any commission supervising the
making OF tariffs In advance OF their b.
coming effective on every Transportation
hne within the United States to the ex-
teat that would be necessary IL their &C
tive concurrence were required In the ma
King OF every tariff. has satisfied me that
this power. II granted. should be con-
fesred In . very limited and restricted
form.
Commission showId Prsbe chsMSs.
] Therefore recommend that the inter
state commerce commission b. empow-
cred whenever any proposed Increase of
rates - dled. At once, either ON co0-
piaAnt o. Of its own motion. to enter
upon IN Investigation into the reasonable
ness OF such change. and that It b fur
ther empowered. in It's discretion, 70
postpone the effective date Of such pro-
posed Increase for . period not sxcsed-
ing % days beyond the date when such
rate would take effect. II within this
time shall determine that such In
crease 10 unreasonable. II may thea, ~
its order. either forbid the increase at
III. fra vi lnk
II shall not be made. II. on the other
hand. at the expiration Of this time, the
commission shall not have completed Its
investigation. then the rates shall take
effect precisely as n would under the ex-
listing law. and the commission may con-
tinue its Investigation with such results
a. might be realized under the Law - II
now stands
The claim 10 very earnestly advanced
by some large associations OF shippers
that shippers Of freight should b EN-.
powered to direct the route over which
their shipments should pass to destina-
ton. and in this connection Il has bssn
urged that the provisions Of section is
OF the interstate commerce act, which
now empowers tho commission. after
hearing on complaint. to establish
through routes and ma ximum Joint rates
to be charged. etc. when no reasonable
or satisfactory through route shall have
been already established. be amended %
as to empower the commission to take
such action. even when one existing rea-
sonable and satisfactory route already
exists. n II be possible. to establish sd-
ditional routes. This seems to NJ to
be reasonable proposition.
The Republican platform Of 1t0 de-
clared In favor Of amending the inter-
state commerce law. but 10 a. always to
maintain the principle Of competition BE-
tween naturally competing lines, and
AR
lines by any means whatever. One Of
the most potent means of exercising such
control has been through the holding Of
stock OF one railroad company by an
other company owning . competing line.
This condition has grown up under sx-
press legislative power conferred by the
laws Of many states. and to attempt now
to suddenly reverse that policy 20 far
rs It affects the ownership Of stocks here
tofore so acquired. would be to ipfiict
srievous injury. not only upon the cor-
porations affected but upon 4 large body
Of the investment holding public.
Plan to End Rail Combine.
I. however. recommend that the law
shall be amended 80 a. to provide that
from and after the date Of its passa Re
no railroad company subject to the inter-
state commerce act shall. directly or in
kind in capital stock or purchase or
lease any railroad Of any other corpora
ton which competes with It respecting
business to which the interstate COM
msrcs act applies. But especially for
the protection Of the minority stockhold-
ers in securing to them the best market
for ther stock. recommend that such
prohibition b. coupled with . proviso
that It shall not operate to prevent any
corporation which, at the date Of pasea Re
OF such act, shall own not less than one
half of the entire issued and OUTSTANDING
nfa
pany. from acquiring all or the remain
der Of such stock: nor to prohibit any
railroad company which at the date Of
the enactment OF the law 10 operating
railroad of any other corporation under
lease. executed Of . term not less than
s years, from acquiring the reverslonary
ownership Of tho demised railroad; but
that such provisions shall not operate to
authorize or validate the acquisition.
through stock ownership or otherwise.
of q competing line or interest therein In
violation of the antitrust or any other
law.
Tho Republican platform Of 1S0e fur.
ther declares In favor Of such national
legislation and supervision as will pre-
vent the future over-issue Of stocks and
bonds by interstate carriers. and in order
to carry out Its provisions I recommend
the enactment Of a law providing that
no railroad corporation subject to the in
terstate commerce act shall hereafter for
any purpose connected with or relating
to any part Of Its business governed BY
said act. issue any capital stock without
previous or simultaneous payment to 1t
OF not less than the par value of such
stock. or any bonds or other obligations
Except notes maturing not more than
one year from the date of their issue),
without the previous or simultaneous pay
ment to such corporation Of not less than
the par value Of such bonds. or other OBJ
legations, or, II issued at less than their
par value. then not without such pay
mont OF the reasonable market value Of
such bonds or obligations a. ascertained
by the interstate commerce commits
sion; and that no property. service,
or other thing than money. shall be
taken in payment to such carrier cor
poration. of the par or other required
price Of such stock. bond or other obliga-
ton. except the fair value Of such prop
erty. services or other thing ascertained
by the commission: and that such act
shall also contain provisions to prevent
the abuse by the improvident or improp
er issue of notes maturing at . period
not exceeding Il months from date. in
such manner as to commit the commits