Omaha daily bee., 1910-01-08
Continued from Page Bleven)

the par value OF such bonds, or other obli-
cations, or, II Issued at less than their
par value, then not without such payment
Of the reasonable market value OF such
bonds or obligations as ascertained by the
Interstate commission; and that
no property. services, or other thing than
money. shall be taken in payment to such
carrier corporation, Of the par or other re-
auired price Of such stock, bond or other
obligation, except at the fair value OF such
property, servicesNor other thing as ascer-
tanned by the commission; and that such
act shall also contain provisions to pre-
vent tie use by the improvident or improper
issus Of notes maturing at a period not
exceeding twelve months from date. In such
manner as TO commit the commission to
the approval Of a larger amount Of stock
or bonds In order to retire such notes than
should l~egitimately have been required.
Approval of stock Issues.
This act should also provide for the APP
spfovai by the Interstate Commerce commits
sion Of the amount Of stock and bonds to
be issued by any railroad company subject
To this act upon any reorganization, pur-
suant to judicial sale or other legal pro-
ctedings. In order to prevent the issue OF
stocks and bonds to an amount in excess
OF the fair value Of the property which is
the subject OF such reorganization.
II believe :hcse suggested notifications
IN and amendments TO the Interstate COM
merce act would make 1t a complete and
effective measure for securing reasonable
ness of rates and. fairness OF practices IN
the operation Of interstate railroad lines,
Without undue preference to any individual
er class over any others; and would pre-
vent The recurrence of many Of the prac-
tires vybiph ha We qivan riqp in the n a at to
30 much public inconvenience and loss.
SPY my direction the attorney general
has drafted a bill to carry out these
recommendations. which will be furnished
upon request to the appropriate committee
Whenever IT may be desired.
Safety Appliances on Cars.
gsIn addition to the foregoing amend
ments Of the interstate m law, the
Interstate Commerce commission should be
given the power, after a hearing, TO de-
termine upon the uniform construction Of
those appliances-such as sill steps, lad
Aers, roof handholds, running boards and
handbrakes on freight cars engaged in
Interstate commerce-used by the trainmen
In the operation OF trains, the defects and
lack of uniformity in which are apt to
produce accidents and injuries to railway
tralnmen. The wonderful reforms effected
in the number OF switchmen and trainmcn
injured by coupling accidents, due to the
enforced Introduction Of safety couplers,
Is a demonstration of what can be done
II railroads are compelled to adopt proper
safety appliances.
~ suits Under Liability Act.
1.-THE question has arisen In the opera
ton of the interstate m employers
liability act sas to whether suit can be
brought against the employer company in
any place other than that Of its home
office. The right to bring the suit unGer
this act should be as easy Of enforcement
as the right Of a private person not in the
epiupanX's employ. to sue on an ordinary
claim, ana process in such suits should be
sufficiently served IL upon the station
agent of the company upon whom service
Is authorized to be made to bind the com
pany in ordinary actions arising under tho
stdte laws. Bills for both the foregoing
purposes have been considered by the housC
Of representatives and have been passed
and are now before the interstate com
merce of the senate. 1 earnesti!
pIse that they be eracted into law.
Changes in Anti-Trust Law.
There has been a marked tendency II
business in this country for forty year
last past toward combination Of capita
ahe plant In manufacture, SAFE and trans
portaton. The moving causes have bee
several:
FIRST. 1t has rendered possible grea
economies.
Second, by a union of former competi
tors, It has reduced the probability of eN
cesslve competitions; and,
Third. IL the combination has been eS
~tensive enough. and certain methods in IN
treatment OF competitors and customer
have been adopted, the combiners have $,
cured a monopoly and complete control {
prices or rates.
"A combination successful in achievin
complete control over a particular line
manufacture has frequently been called
trust l presume that the derivation
the word is to be explained by the ia,
that the usual method Of carrying out Il
plan of the combination has been to pl
the capital and plants Of various indivldu
ais, firms or corporations engaged in Il
same business under the control of tru
tees.
BiRness Not a Crime.
The increase In the capital of a buslne
for the purpose of reducing the cost of pr
duction and effectlng economy in the ma
agement has become as essential in mode
progress as the change from the hand to
to the machine. When, therefore. we cor
to eonstrue the object OF congress In adoE
Ing the s~o-calIed Sherman antitrust a
In 1890, whereby in the first sc
ton every contract combination Ia /
form of a trust or otherwise or conspira
in restraint of interstate or foreign ira
OF is condemned as unlawful a
made subject to indictment and restrai
by lnjunction; and whereby in the seco
section every monopoly, or attempt TO n
nopolize, and every combination or consp
aey with other persons TO monopolize a
part Of interstate trade or commerce,
denounced as Illegal and made subject
similar punishment or restraint. we mt
infer that the evil aimed at was not
mere blgness OF the enterprise, but Il "
the aggregation OF capital and plants W
the express or implied intent to restr'
interstate or foreign commerce., or to n
nopoliEe 1t in whole or in part.
Test Is Trade Restraint.
Monopoly destroys competition utter
ana the restraint of the full and free op
alton Of competition has a tendency TO
strain IN and trade, A combi
don OF persons. formerly engaged In TT;
-