The Daily Ardmoreite. [volume] (Ardmore, Okla.) 1893-current, 1910-05-10
STILL RETAINS VITAL FEATURES
Newspaper Reports On Bill Have Been
Esseserateo-so'h Branches Of the
Congress viii Adjus, and suppo-,
Bill on Final Passage.

the legislative situation in Washing
ton. President Taft declared with a
great deal OF emphasis and amid an
outburst OF applause that the railroad
bill has not been emasculated in any
way. and predicted thai a satisfactory
law would he passed
The bill" said the President. still .
retains its important features, and /
am hopeful that within the next lev
weeks We shall see the passage OF the
bill In both houses. the adjustment
Of the differences between the two
houses and it's final enacement"
The President declared that the
newspaper reports of the Gripping o.
the railroad bill had been greatly es.
aggerated. He said he hoped the pro-
vision which permits road owning
80 per cent OF the stock OF a com.
! peting road 10 acquire the remaining
stock would be restored.
That is the section that forbids the
acquisition by one railroad company
of the stock in a competing line, but
where such an acquisition has already
been made of 80 per cent authorizes
the acquiring company TO increase its
holding to 100 per cent" he explained.
This was not proposai with the
view OF Strengthening the controi
the acquiring company OF 50 per cent
as is contended. but it was TO keep
open a market To the minority stock
holders.
This. too. it was thought in some
: way infringed on the antitrust law,
and the whole section was dropped
. ! am hopeful the section may be re-
stored 10 the extent OF forbiddng u.
ture acquisition by one line OF steam
ers by a competing line. 1t is true
that such an act affecting interst ne
commerce might be part of a conspir.
/ acy to restrain interstate trade ano
, commerce and so be punishable under
, the interstate commerce law, but IL
! would greatly facilitate prosecutions
: of the specific act OF the acquisition
{ Of stock in competing line which
could be prevented by Injunction"
As to the commerce court feature,
he said:
The advantage of the court is that
D We shall have court OF experts a,
Washington very familiar with the
whole business OF interstate com
I merce and the decision affecting 1.
4. and will be able TO dispose of the busi-
y ness before it promptly and give eff.
4 cacy to the orders OF the orders of the
; interstate commerce commission that
q are legal The whole object of the
}. court is expedition. and the whole de-
/ feet OF the interstate commerce com.
= mission procedure heretofore
n has been delay. regard
y cally the most important feature in
e the bill. Thus far it has remained in
g the house, although by a close vote
:. and II has not been stricken out in
uhe senate.
Concluding his reference TO the rail
= ROAD bill, President Taft said:
: Its passage means a great step for
l- ward In the power of regulation In
y trusted to the interstate commerce
! commission for court OF review. II
does not transfer-and I should be
I loath TO do this-from the board OF
r directors 10 the interstate commerce
: commission the power of running and
Z operating the railroad. II still leaves
wide discretion In the owners OF tho
n property but the powers exercised by
4" the commission, ! feel confident. car
= be exercised for good. and II will not
remove the existing motives OF e.
d lightened selfishness for the improve
methods and cost of transportation
q In his review Of pending legislation
I. Mr. Taft expressed the belief that the
II following measures besides the rail
,. road bill will be enacted into law:
" Statehood for Arizona and New
q Mexico.
T. Postal savings banks.
I. Anti-injunction.
e The socalled validating bill OF the
z conservation measures.
l. The publicity OF campaign expendi
e lures.
(. In his comment on the delay in pass
d ing the statehood bill, the Presiden'
W acknowledged that there is hesita
e ton on the part Of the Republican,
In the senate To mass a hill which Ii