Evening star. [volume] (Washington, D.C.) 1854-1972, 1910-11-28
WORK ON MESSAGE
President Keeps to Private
Rooms in White House.
UNDISTURBED BY CALLERS
Members of Stocks and Bonds Com.
mission Alone Received. :.
CABINET MEETING POSTPONED
Carrying Out Of Party Pledges to
Be Urged in Document Now
Being Prepared.
UNDISTURBED BY CALLERS
CABINET MEETING POSTPONED

President Taft denied himself to visitors
today. kept away from the executive
Offices altogether and remained i'm the
private portion of the White House work
ing upon his message to Congress. At the
executive ofices he is constantly inter-
rupted by announcements of callers, and
1t rs practically impossible to refuse him
self to all OF them.
The stocks and bonds commission au-
thorized by the last Congress and ap-
pointed some months ago by the Preei-
dent. called on the chief executive and
remained with him some time. The COM
mission, which Is headed by President
Hadley Of Yale, has begun its work, with
headquarters in the Senate Office building
The question OF the federal supervision
OF stocks and bonds is one OF the most
| important OF the pledges made by the
republican platform of 1908 not yet put
into law. The President, either i'm his
| regular message or later In special
message. will go into this subject with
much care. The object of the commis-
sion, just now beginning its labors. is
to report upon the best and most salts
factory method OF federal control. safe
guarding with equal fairness the interests
or the public and the common carriers.
Without a definite progrom from the COM
mission the President will not be able
| at this time to present to Congress much
| more than repetition of his former
views.
Regulates Issues of Stock.
The President recommended TO the last
Congress the enactment of law that
| would prevent the overissue Of stocks
| and bonds by common carriers. This
law, according to his view. should pre-
vent the issue o. capital stock by any
| common carrier without the payment to
| II or at least the par value, the same
| to be true of bonds or other obligations.
than money shall not be taken i'm nay
ment FOR stocks or bonds except at a
FAIR value, to be determined by the in
| terstate commerce commission.
me PRESIDENT held that the law should
provide for the approval by the commits
sion OF the amount of stocks and bonds
| 10 De issued by any railroad company
subject to the law upon reorganlzation.
| pursuant to judicial sale or o,her legal
proceedings, SO as to prevent issues of
| securities in excess of the true value Of
the property.
Federal control and supervision OF stock
ana bond issues, carrying with n th,
resulation also OF the capital stock Of
Iailroad companies in the future, will be
opposed by the railroads, which will assert
that 1t Is another step toward the GRIN
ping OF railroad construction and energy
IN this country. Too much legis. alton
g.
Gently been told, are playing havoc with
railroads and other lines Of business
Garry Out Party Pledges.
The Presidents message as a whole will
urge the complete carrying out of party
Pledges OF two and a half years ago. Re
publican leaders visiting the White House
are IN accord as to the wisdom of thi,
step. Representative Kennedy of Ohio,
one of the men defeated in the recent
elections, said at the White House TO-DAY
that he would stand with the President
as to fulfilling all pledges, not only "a
relating to railroads. but other subjects,
including an anti-irjunction law
Mr.. Kennedy intends to push for an i'm
portant amendment to the Payne-Aldricn
tariff law at this session. 1t is to provid.
for publicity for foreign valuations of i'm
ports 10 this country. 1t is these valua-
tons upon which duty is levied The
shipper Is supposed to give the valuation
OF a consignment based upon the whole
sale value at the time Of shipment. The
board OF appraisers in New York is the
body that passes upon these valuations.
There is no reason in the world why
the importers valuations should be kept
secret, said Mr.. Kennedy. Let us have
publicity law SO that the public will
know something to foreign prices.
The consumer will then be posted as
to the exact situation. and we may
ligently and scientifically made up.
What's the use having a tariff commits
sion to go abroad for cost Of production.
etc. when the same facts can be had
from the customs papers in New York
These are supposed to give the wholesale
foreign market valuation of goods. Let
the consumer see something of the real
facts and there will be less need every
two or four years to send a regiment OF
political speakers into the field to try to
explain something that is mighty difficult
to do. Publicity, too, would quickly end
the differentiation frauds by which the
government has lost millions of money
Representative Herbert Parsons Of New
York, another defeated republican, and
Senator Carter Of Montana whose state
went democratic. were visitors TO the
White House, but did not get 10 see the
President.
Cabinet Meeting Postponed.
The regular cabinet meeting for Tues
day has been postponed until "Wednesday
SO that the President may have another
Undetermined dav for bis ypeesape