The Ogden standard. [volume] (Ogden City, Utah) 1902-1910, 1910-01-07
Recommendations

"'u hie tlldl lulS IloNtis GIdulcu,
should be conferred In a very limited
and restricted form.
Recommendations.
| therefore recommend that the In
terstate commerce commission be en-
powered whenever any proposed In
crease OF rates Is fled, at once. either.
on complaint or of It's own motion, to
enter upon an Investigation into the
reasona6leness of such change and
that II be further empowered in its
discretion 10 postpone the effective
date oil such proposed increase for a
period not exceeding sixty days be-
yond the date when such rate would
take effect II. within this time. 1t
shall determine that such Increase is
unreasonable. II may then, by It's OF
der, either forbid the increase at all
or fix the maximum beyond which 1t
shall not be made. If, on the other
hand. at the expiration Of this time.
the commission shall not have com.
plcted its investigation then the rate
shall take effect precisely as 1t should
under the existing law and the com
mission may continue It's investigation
with such results as would be real
lied under the law as IL now stands
The claim is very earnestly adyanc-
cd by some large associations of ship
pers. that shippers Of freight should
be empowered TO direct the route over
which their shipments should pass to
destination and In this connection II
has been urged that the provisions of
section 10 OF the interstate commerce
act. which now empowers the COM
mission. after hearing on complaint,
TO establish through routes and maxi
mum joint rates to be charged. etc.
when no reasonable or satisfactory
through route shall have been already
established, be amended SO as TO en-
power the commission to take such ac-
tion, even when one existing reason
able provision know OF no reason
why n shipper should not have the
right to elect between two or more es-
tablished through routes to which tho
initial carrier may bo a party and to
require his shipment to he transport
ed TO destination over such route or
routes as he may designate for that
purpose. However. In the exercise OF
this right the shipper should be sub
ject to such reasonable regulations as
the interstate commerce commission
may prescribe.
Platform Favors Amendments.
The Republican platform OF 1908 de-
clared In favor of amending the inter
state commerce law but so as always
TO maintain the principle of Competi-
tlon between naturally competing
lines and avoiding the control of such
means whatsoever
One OF the most potent means of
exercising such control has been
through the holding of stock OF one
railroad company by another company
owning a competing line. This condi-
tioD has grown up under express leg.
islative power conferred by the laws
OF many states. and to attempt now
suddenly to reverse that policy so far
as Ii affects the ownership OF stocks
heretofore so acquired. would be to In
flict a grieyous injury, not only upon
the corporations affected. but upon a
large body of the investment holding
public. /. however. recommend that
the law shall be amended so as to
provide that, from and after the date
of It's passage no company subject to
the interstate commerce commission
shall directly or indirectly acquire any
interests of any kind in capital stock
or purchase or lease any railroad OF
any other corporation which competes
with 1t respecting business to which
the interstate commerce act applies.
But especially for the protection OF the
minority stockholders In securing TO
them the best market for their stock,
! recommend that such prohibition be
coupled with a provlso that it shall
not operate TO prevent any corpora
tion which, at the date of the pass
age of such act, shall own not less
than oneshalf of the entire Issue and
outstanding capital stock of any other
railroad company, from acquiring all
or the remainder OF such stocks, or TO
prohibit any railroad company which.
at the date of the enactment of the
law is operating a railroad or any 9th
er corporation under lease, executed
for a term OF not less than 20 years,
from acquiring the repersionary own
ershIp of the demised railroad; but
that such provisions shall not oper
ate to authorize or validate the ac-
quisition through stock ownership or
otherwise Of a competing line or In
tereSt therein In violation OF anti
lIuSl ldW VI Oluel iuW.
Further Declarations.
The Republican platform OF 1908
! further declares in favor OF such leg
/ Islation and national supervision as
will prevent the future overiSSue OF
| stocks and bonds by interstate car
riers. and In order to carry out its
! provision. recommend the enactment
Of a law providing that no railroad cor
| poration subject TO the interstate COM
merce act shall hereafter for any pur-
| poses connected with or relating to
| any part of It's business governed by
said act. Issue any capital stock with
I out previous or simultaneous payment
to 1t OF not less than the par value Of
such stock or any bonds or other OBJ
legations Except notes maturing not
more than one year from the date Of
their issue) without the previous or
simultaneous payment of such corpor-
alton of not less than the par value of
such bonds or other obligations, 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 commerce commission; and
that no property services or other thing
than money. shall be taken In pay
ment to such carrier corporation, OF
the par OF other required price OF such
stock, bond or other obligation. eX.
cept at the fair value OF such property.
services OF other thing as ascertalned
by the commission; and that such act