New-York tribune., 1910-01-16
TRAFFIC MEN DINE
FORT ON TAFT BILL.
Farors Measure for Control of
Corporations.

Governor John Franklin Fort, OF New
Jersey, spoke to about five hundred mem
hers of the Traffic Club. of New York. at
the fifteenth annual dinner at the Waldorf
last night on the relation of the state and
federal governments TO the railways OF
the country The membership of the club
includes not only railway men. but the
traffic managers of some of the largest
corporations. and Governor Forts speech
was followed with close interest, paytic-
ulariy as he declared himself in favor of
national supervision.
Chancellor James r. Day of Syracuse
University said that in this day and time
II was only the ignorant and biased man
who is inimical TO the railroad.
Job +. Hedges and William r. Dickson.
Steel Corporation, were the other speak
ers Judge Charles F. Moore was the
tosstmesfer.
Governor Fort expressed himself as be-
heving in governmental regulation of in
terstate commerce. He quoted the recent
message Of President Taft as follows:
The regulation OF interstate and foreign
commerce is certainly conferred In the full
est nieaslre upon Congress, and If for the
purposs OF securing in the most thorough
manner that kind of regulation Congress
shall insist that It may provide and au-
. fhorize certain agencies to carry on that
: commerce. il would seem TO be within its
power.
The strict constructionist Of old would
certainly say this is proposed centraliZa-
tion with a vengeance-and il is" said Gov
ornor Fort. The expression was significant
coming from the Governor OF New Jersey,
who said last night: I'VE are considered "A
cso4r 1ro sal-o do ir,
the designation. The corporation is here
and il is here TO stay. The problem is not
80 rid ourselves OF corporate organizations,
but what lines 10 fix as the limit OF their
power and what regulation by the nation
or state. or both, is essential and proper.
Organizations so potential and essen
rial IN our business life need to be brought
into harmonious relations with the state.
We must find some ground of mutual ad-
vantage"
He further stated that New Jersey con-
sained s2so.oaooo0 in railway values. which
pay an annual tax OF over s.,
Governor Fort is an advocate of state
regulation, and considers this end can be
reached more readily when the various
commonwealths shall have statutes more III
common with one another He called at
fention TO the police power of the states
Pardon me if 7 say 10 YOU that one
have made in the past has been their oppo-
sltlon to state regulation of any kind BY
1ns action they have caused the impress
sion to get abroad that they feared regula-
1i"n--possibly that they resented it. The
American people do not like that. Officials
'f this kind seem TO forget that the people
know perfectly well that railway property
IS 9aaSi-public and not private: that inter
rtate commerce is a matter exclusively
nc such thing as private right. 20 the eX
oiusion OF government regulation. in it.
Along this line the speaker said that
probably il the railroad men had thought
ss much about their relation to the public
as their position as stockholders. their
would have been less regulation. national
or state. lie emphasized particularly the
duty OF a public serving corporation to the
state. Such corporation is not created
by the state solely TO make money and TO
SO conduct its business that the best possi-
ble financial results may accrue 10 its
stockholders. Good public service should
be the prime object he said.
So far, according TO the summary made
by Governor Fort, state and governmental
authority can be asserted in these par
IicuIsrE-
Power over rates that they shall be rea-
sonsbie and uniform; power TO prohibit and
punish for rebates; power TO compel rea-
sonable connections at functions of COM
peting roads, even if such orders must be
obeyed at 4 loss; power to limit the output
of securities and the rate at which they
may be sold: power 10 inhibit oyercap-
italiZation and all forms of exploitation of
railway securities; power to compel even
interstate trains 10 stop at designated sta
fions intrastate, II IL does not affect inter
state commerce; power to compel distribu-
fien Of cars used in coal other freight
delivery, so that all engaged shall have
: equal opportunity TO ship their product
power 10 compel the use of reasonably safe