The Cairo bulletin. (Cairo, Ill.) 1???-1928, 1910-06-06
Special.
New York. June 4, 1910.

/
New York. June f. 1910.
A severe blow has been administ-
cred to financial interests by the I'm.
expected injunction against an al.
effect vance in railroad rate: Its
first effect was to startle Wall street
and force demoralized selling OF
stocks, What the final outcome will
be cannot now be foreseen. It means
at any rate a period Of prolonged
discussion at washington. together
with a general reopening Of agita.
ton against the railroads, Out Of
the struggle % suddenly nrecipita-
ted there should come some rational
and permanent solution of the rail
road problem; but unfortunately
during the interval a period OF more
or less unsettlement in values must
be expected. The present status OF
the railroads is unbearable, and
some judicial power i: necessary to
settle the differences between them
and the people. Railroads are nat
ural monopoly, and as such exercise
arbitrary powers which inevitably in
yite the distrust OF shippers and
should be restrained. Railroad man
ayers are human. and, however broad
minded and liberal they may be, are
likely in the matter of ratev to put
on all the traffic will bear. Shippers
desire stable rates, good service and
equality Of treatment. These adj
vantages they generally receive, yet
find themselves at the mercy Of the
railroads in the question of rates
The freight rate from the nature Of
the case is not a rubject for bar
gaining-the usual method of SET
cling business transactions-nen
the alarm OF shippers at the recent
movement Of the roads to advance
rates. Shipprs believe the advance
to be unnecessary, and express ser
ious alarm at this exercise of arbi-
trary power free of restraint. On the
other hand the railroads find them
selves face to face with the problem
of securing sufficient revenue to
meet the increased demands of la
Dor and rapidly growing expenses.
There SEEM to be but one true so
luton of this antagonism in the re.
lations betwee the railroads and the
people, that is the establishment Of
some court or tribunal designed to
arblrate and settle all such differ
ences. If such a court could be de-
yisad, securing fair treatment to the
railroads and just and reasonable
rates to shippers, a long step would
be taken in removing one of tho
most acute sources Of financial and
political disquet.
Railroad Rates.
The railroads are evidently deter
mined to secure better rates and are
now filing notices of advances indi-
vidually instead of collectively; but
aside from this the general outlook
though somewhat mixed, is in many
respects favorable. Recognition Of
over speculation in Western land
has forced general retrenchment ny
interior banks; and the stedy cur
tailment of credit i. gradually cur
ing some financial ills from which
that section Is suffering. 1t is rec
oognized however that the interior
banks will not be able to finance the
crops as easily as usual, owing to
expansion of loans connected with
land speculation in the west. East
ern banks will undoubtedly be Obliged
to assist in the autumn crop move
ment. and have been preparing them
selves accordingly. AS a result of
these mandatory conditions our
bankers have been forced to look to
Europe for the financing of proposed
new eecurity issues. While money
is abundantIy easy in both London
and Paris, the placing of American
securities has unquestionably been
delayed by pronounced foreign dis
trust of the situation here.
On the other side there has been