The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1910-01-08

antitrust law.
Stock must be issued at par value
for money paid in or for properties or
services, rates at full value, under an
inquiry by the federal authority, who
shall supervise all stock and bond
issues.
THE MESSAGE.
The message in part is as follows;
Z 92v ine Senate and House of Representa-
! Withheld from my annual message a
discussion of needed legislation under
regulate commerce between the states and
with foreign countries, and said that
would bring this ma tier to your atten-
ton later in the session. Secondly, / beg
20 submit to you certain recommends
lions as to amendments to the interstate
commerce law and certain considerations
arising out of the operations of the anti
trust law suggesting the wisdom of fed
eral incorporation of industrial compan-
Interstate Commerce Law.
In the annual report of the Interstate
commerce commission for the year 1908
attention is called to the fact that be.
tween July 1. 1908, and the close of that
year, Is suits had been begun to set aside
orders of the commission (besides one
l commenced before that date, and thai
permitted to go without protest; that the
questions presented by these various suits
were fundamental, as the constitutional
right of congress to delegate to any -trib-
unal authority to establish an interstate
fate was denied; but that perhaps the
the extent Of the right of the courts &c
ffview the orders of the commission; and
It was pointed out that that in the con-
spec i alone wefe SUSTAINED. but uttie
progress had been made in the Hepburn
act toward the effective regulatipn OF
Il 4S& k2A 49, -.
twelve Of the cases referred to It was
stated, preliminary injunctions were
PRAYED for being granted in six and re-
1T has, from the first. been well under
stood" says the commission. shat the
success of the present act as a regulating
measure depended largely upon the facfl-
ity with which temporary injunctions
could be obtained. If a RAILROAD company
by mere allegation in is BIN e com
could overturn the result of days of pa
tient investigation, no very satisfactory
result can be expected. TheTrailroad loses
fails it can only be required to establish
the rate and to pay to shippers the differ
ence between the higher rate collected
reasonable. In point Of fact, it usually
profits, because it can seldom be required
to return more than a fraction of the ex-
In its report for. the year 1893, the COM
mission shows that of the seventeen
cases referred to In It's 1908, report, only
one had been decided Id the supreme
court of the United States, although five
other cases had been argued and submit
ted to that tribunal in October. 1909.
OF course, every carrier affected by an
order of the commission has constitu.
to it from ap the Of ar
order which it may show to be prima facie
confiscatory or unjustly discriminatory in
it's effect; and as this application may be
made to a court in amy district Of the
United States, it not only delays results
in the enforcement of the ordeN but for
of decision.
The questions presented by the appli-
cations are too often technical in their
business and the mastery of a great vol
unre of convincing evidence which Is te-
dious to examine and troublesome to com
tempt to deprive any corporation to the