Evening star. [volume] (Washington, D.C.) 1854-1972, 1910-12-02
Bio Business Men Are Keep
ing Eyes on Washington.
THREE CLOUDS ON HORIZON
Supreme Court Trust Decisions, Rail-
road Rates, Tariff.
THREAT OF STORM IN EACH
Expected Developments Of Next Few
Months Of Vast Consequence
to Industrial World.

New York's financial and Industrial dis
trict is deeply interested in Washington
/ these days, and the big men in the money
world are trying to keep In close touch
/ with governmental affairs. President
| Brown of the New York Central was in
town yesterday, President McRea of the
Pennsylvania a day or two ago and half
Q dozen or more lesser lights and rep
resentatives Of financial interests have
been and are in :, wn.
These men agree that all interest CEN
ters In Washington and that good times
or bad in the financial and industrial
world will be the outcome of develop
ments here in the next few months.
' Watching Three Contingencies.
The future of investment, speculative.
banking, industrial and railroad prosper
ity. they declare, depends upon three con-
tingencies i'm the order of their statement,
namely, the disposition by the United
States Supreme Court of the suits against
the Standard Oil and Tobacco trusts, the
action of the interstate commerce COM
mission upon the application for author
ity TO increase freight rates and the p.o-
cejure of Congress with respect to the
Preside ntS recommendations for restrict
i've legisIat together with the decision
as to tariff revision.
The anxiety as to "Washington's at
titude'' as they tersely express 1t, is not
confined 10 the speculative element. In
these days the connection between the
speculative crowd and the banking and
investment groups is so close as almost
to. make them identical.
The greatest interest attaches to the
Supreme Courts action in the antitrust
cases.
II is we'll understood of course, that
the Supreme Court is expected to pro-
nOunce the final analysis of the Sherman
antitrust law in its forthcoming deci-
sions. and to define clearly the line of
deInarkatiOn between legal combinations
OF industry and capital and those which
are in restraint OF trade. The number
of vast organizations which are ION all
fours'' with Standard Oil and Tobacco
and thus subject to whatever decision is
Aaadc. an to their standing In court no
ftnan knows.
Sugar Trust to Conform.
An instance of the prospective course of
The industrials organized under modern
condition Is given in circular issued by
The sugar trust last week, which says:
sIf 1t appears, when the Supreme Court
lnterprets the Sherman law in the Stand
~ u SuQ lOUACCO casey, tudS IuC sugar
company is In any respect violating the
Sherman law steps will be Immediately
and voluntarily taken to comply with
the law as thus interpreted" Then, re-
3errins to the suit just filed by the gov
ernment against the sugar trust. the
circular goes on to say: This would
be done IL the present proceedings had
never been begun"
/ So it will doubtless be with many other
corporations on a similar footing.
I The railroads their nQr
vitality Interested in the action of the
interstate commerce commission on their
proposed increased freight rates. The
pros and cons of the case have been set
before the public in the hearings just
closed. and the railroads and the ship
pers have alike had their day in court.
Facing Important Task.
1t is recognized that the commission is
facing astupendous and most important
task in deciding between the conflicting
claims OF the roads and the shippers. and
no man is bold enough to forecast the
outcome.
The finarciai district in New York is
;r cined to the belief that the commission
will grant the increases. 1t bases it's
hope upon the supposed attitude Of indi-
ividuals on the commission. and upon the
report that the administration favors in
creased rates because the roads have adj
vanced wages of employees. But the de-
.cision of the commission will be by re-
corded vote. and no one knows now how
the members of the commission will stand
alter they have gone over the evidence
and discussed it among themselves, free
from suggestion of counsel.
So the more cautious of the big men
In the financial district are said to be up
in the air., as we'll as the laymen in
Washington. Some of the great trunk
lines. in their reports made public this
week. have shown a startling falling off
IN earnings. What effect this demonstra-
tion gill have upon the commission Is a
subject only Of conjecture.
Chances Of Tariff Revision.
AS to the attitude of Congress, the prin-
cipal concern of the financial world is
said to be whether there is to be an ex-
a session and consequent tinkering with
ne tariff. The interests are not SO much
oncerned over the Presidents recom-
bnendations for additional legislation, for
they realize the limitations for action in
the shortness of the session and the
further fact that the present organization
II the Senate will continue until March f.
IL there IL not to be an extra session OF
congress this spring the financial world
sill be emboldened to look for a period of
legislative inaction until the following
pring, giving nearly a clear twelve
nonths of undisturbed tariff conditions.
E n. ~