The Guthrie daily leader. [volume] (Guthrie, Okla.) 1893-1996, 1910-04-02
TAT FT'S PET
LROAD
MEASURE
ADMINISTRATION BILL
REPORTED TO THE
HOUSE TODAY
~-------s-s
MAJORITY AND MINORITY
REPORTS ARE SUBMITTED
Provides for Commerce Court
and Regulation Of Rail-
way Agreements
(By Associated Press.l


Washington, D. G, pril 2-The
administration railroad bill, stripped
of many of its original features, but
still providing for the creation of a
commerce court and the regulation OF
| railway agreements, consultations,
securities, rates and rontes. all as
amendments 10 the interstate com
merce law, was reported TO the house
today by the interstate commerce
committee
The bill was introduced by Repre-
sentative Townsend OF Michigan,
January 10. The original measure
was drafted by Attorney General
Wickessham, who also is sponsor for
several Of the amendments made by
the committee, but the measure con
tains as amendments liberal excerpts
from the bill presented early in the
session by Chairman Mann, of the
committee, whose views are not in
accord with the administration, but
who takes charge of the bill on the
floor as committee chairman, though
personally opposed 10 many OF its
provisions. Mr.. Mann will ask the
house next Monday 10 make the bill
privileged, failing which he will seek
suspension of the rules to expedite
consideration The majority report
says:
The Majority Report
The Hepburn law Of 1906 vastly
improved the law providing for regu-
lative control over railroad corpora
tions engaged in interstate or foreigs
commerce and much enlarged the
scope of the authority conferred upon
he interstate commerce commission.
Experience gained through execution
Gf the law shows some important mal-
tiers which should be the subject OF
governmental control are not now
within the scope of authority hereto
fore conferred on the commission
"The original act no regulate com
merce was exceedingly important;
the Hepburn law was Of still greater
Importance, but the propositions In
yolved in the sub-bill reported by
your committee are OF even greater
Importance While they do not i'm
pose undue burdens upon the rail
ways OF the country, Or undnly inter
fere with The power OF the railway
managers for the proper operation ct
he roads, YET they do confer upon
the shipping public the investing pub
lie and the people al large benefits
of tremendous value
The Commerce Court.
Referring to the commerce court,
covered In the first three sections ol
the BILL the report says 1t is proposed
to centralize the existing authority
and jurisdiction of circuit courts in
one commerce court, but without en-
larging such jurisdiction or author
ly. The present jurisdiction of the
lini ed States courts to set aside IN
terstate commerce commission Or
ders is believed by many to be limit
ed to tine determination of lurlsdlc-
tional facts and TO the question OF
confiseailon by the taking OF proper
ty without due compensation
An inhibition against purchase or
lease of capital stock OF directly or
substantially competitive railroad or
water line Is made in section IL,
which also prohibits the same person
serving on competing direciorates. II
permits any corporation designing 10
acquire interest in another similar
corporation to make a preliminary
agreement and then file petition with
the commerce court for permission 10
carry out the agreement The com
mi.tee, however, Is considering re-
porting committee amendment u
have the petition filed with the com
mission, instead of with the com.
merce court.
Railway Security Proposition.
/ Railway security propositions are
embodied In the concluding sections
They prohibit railroads from issuing
any stock or bonds except upon ap-
plication to the commission, which is
4 to specify the respective amounts OF
stocks, bonds, etc, authorized to be
| issued for the respective purposes to
which the proceeds are 10 be applied
and stating the price-thefr reason
able value-at which such securities
may I'VE sold. The commission Is ar
thorizen 10 issue certificates In rela
ton 10 stocks and bonds and penalize
officers or stockholders who assent K
prohibited issues.
4 Common carriers are authorized te
enter into agreements specifying
freight classification and passenger
and freight transportation charges
Il Notwithstanding existing laws, includ
7 fag ahp Sherman antitrust law. n 2
I copy Of the agreement In form ant
detail prescribed by the commission
Continued ON Page Five