The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1910-05-10

/ to the orders of the interstate COM
! merce commission that are legal The
| whole object of the court is expedition,
| and the whole defect of the interstate
| commerce procedure heretofore has
been delay. 1 regard the commission
court as practically the most important
feature in the bill. Thus far 1t mas re-
NAMED in the house, although by
close vote, and it has not been stricken
| out in the senate. Another feature OF
| the bill is to give the attorney general
complete control over the litigation
after it has left the interstate COM
merce commission and gets into court
Heretofore the interstate commerce
commission itself has controlled the It'll
CATION in the courts and 1T presented
the anomaly of a quasi judicial tr1o-
unal suing in its own Dehalf 70 con
firm its own judgment. 1t was thought
wiser to give this to the department 3t
Justice, but amendments have been in
troduced by which shippers who nave
an interest may be heard by speclaI
council If they desire, under regulations
of the court.
Another section requires companies.
by their agents, 10 furnish a statement
in writing, of the rate or charge ap-
plicable to a described shipment be-
tween stated places under schedules or
tariffs to which such company Is 2
party, or a penalty for failure
"Fhe other provisions authorize the
commission not only to review rates,
but the classification of freight and en-
able the commission to it's own mo-
ton to investigate the question wheth-
er any rate is unjust or unreasonable
or unjustly discriminatory or unduly
preferential, or prejudicial. or other-
wise in violation of any of the proVl-
sions of the act
"Another provision requires the
commission to establish through routes
and joint rates and to do this upon
complaint or upon its own initiative,
and it is given to the shippers to select
among these routes thus esta blished
the route which they prefer.
Section IS.
Section provides that no railroad
corporation under the interstate COM
merce act shall hereafter issue for any
purpose connected with or relating TO
any part of its business governed by
such act, stock, except upon the pay
ment of the par value thereof; or any
bond without payment of not less than
the par value thereof; or if sold at less
than par value, then at not less than
it's reasonable market or selling value,
to be ascertained by the commission;
and that no property or other thing
than money shall be taken in payment
to the corporation for stock or bonds
except at it's face value, which shall be
ascertained and certified by the COM
mission.
There are also provisions for reor
ganization and merger which contain
similar limitations as to the issue of
stocks and bonds. The feature that
have detailed remain in the bill.
1.-TWO sections have been stricken
out. Section attempted to legalize
the making of tariff agreements not to
last longer than thirty days between
competing lines as to rates. but for
babe pooling. This was declared for
in the platform and recommended to
congress in two or three messages of
President Roosevelt.
1.-The purpose was to legalize the
practice that will prevail whether the
law permits or not. 1t seems to me
essential that rates should be fixed
temporarily at the same amount in or
der to prevent q rate cutting where
each time the fixing of rates is had.
mo one suggests the wisdom of in
shutting prosecutions under the anti
trust law to prevent this practice. and
1t seemed wise therefore tc formulate
its limitation to continue and recog
nize il as lawful: but the fear that it
might impair the efficacy of the anti
trust law in some indefinite way was
so strong among some members Of the
senate that it was thought wise to
withdraw the section.
One section Eliminated.
Section ~ was also Withdrawn.
That is the section that forbids the
acquisition by one railroad of the
stocks in a competing line but where
such an acquisition had already been
made of so per cent authorizes the &C
quiring of the company to increase it's
holding to 100 per cent. This was not
with the view of strengthening the
control of the acquiring company, for
so per cent is all that is needed. but
it was to keen open a market to the
minority stockholder to sell to the ma
jority stockholders. This, too. it was
thought in some way infringed on the
antitrust law, and the whole section
was dropped.
Il am hopeful the action may be re-
stored to the extent of forbidding flu
ture acquisition by one line of stock
in competing line. 1t is true that such
an act affecting interstate commerce
might be part of a conspiracy to re-
strain competition and so restrain trade
and be punishable under the antitrust
act, but 1t would greatly facilitate pros
ecutions if the specific act Of the ac-
QUESTION of stock in a competing line
could be denounced and punished or
prevented by injury. 1 think it will be
seen this review that the railroad while
| in many respects is the most import
ant of the administration measures still
retains its important features and I
am hopeful that within the next two
| weeks we shall see the passage of the
| bill in both houses, tie adjustment of
the differences between the two houses
and its final enactment. 1t means a
| great step forward in the power of
| regulation entrusted to the interstate
commerce commission subject to a court
review. 1t does not transfer-and I
should be Ioath to do this-from the
| board Of directors to the interstate
commerce CoTrmlss the power of run =
| ring and operating the railroad. 1t still
| leaves wide discretion in the owners of
the property; but the powers exercised
| by the commission I feel confident can
| be exercised for good and will not re-
| move the existing motives Of enlight-
| cred selfishness for the Improvement
| by the owners of railroads IN the meth
COS and cost of transportation