New-York tribune., 1910-03-08
RAILROAD REPORT
PLEDGES HIDE GOOD.
Permits Traffic Agreements
4pprores Commerce Court.

z-,s.,--eta7. March 7.-'Carefuily pre-
-s.-i,,, -1a n1fI.cipie 50 clearly enCncia ieo
-, r,enublican platform Of 1905 IS the
,r,a sority % the Senate Committee
r-.--e-e-e Commerce which made rs
-. 4o-5sv on tle administration rai.-
-s,r ;rterp-ets ire provision to per1ait
-...,- ,-.r.jc-s &C e--@r 4nto -T21sc agree
re-.
.s-o-- * signed bv Senator'S FIkins,
-, AId~sc.. Kesn. crane ana Nixon
-, ~ --i,tsd WIKI the minority report
.-.ss rs1 ds-s ago b. Senator's
-~5 Cl.lmirs and ne indi-.dIal e
~ Senator NcTiands.
..-,.sr n TIE Court o. CoulnleEor feat
-,-r-, ,-an. .nence. although comment
--l-7- -~o-;siors = far more interest
a.. 47- t7s.ance. TIE report s@rs fEat The
49, .s - traffic agreement proTision IL
r.re-e carriers from the prohibition Of
-,-s-tr rl.r. act while preserving unin-
,- he control of the Interstate Com
.s ,.--7,--is~:or over all such SsreeTlents.
- 5..-z-o7 tnat the provision Is in cx-
.- -7-r'is7ce with lie declsTa ,io' in the
R~-ab5ca1 platform
r-,.r.i-E -Ie proposed Court OF Com
.-,.,. -he -a7osr ss-s that the principal
s.--.,-7- n favor % IS creation Is that
F.. --, -7erer. Ielav and confusion in the
s---a.re-- ot lie law By creating one
,---.sf sDeciailt ye-sed IN the corlrlicated
4.-sn technical questions arising ont
T., e application - the interstate com
-a--~ Isw n railroads and other q -riers
..a.-- n re act-
rcHs-enti7E UPON re provision for IL
'.sl-1tio1 lr tre commission Of proposed
;--as in rates. the report SAYS that q
f-g &C tie committee is Of opinion
,5st -.e commission should be authorized 20
.efe.aerce the investigation Of the proposed
e.rlzse e. rate or change n classification
soon - II Is fied. The majority sup
.-'ts also LIE proposition that Al any time
l-rre The rsTe O. Classification viii be
,c-.- eEe1t5-s tre commission should be
e-.-t-e cred - postpone the effective date
r.. reasonable period 10 enable Il 20 in
-ate the proposed action.
e hi'i fixes this reasonable period At
..~-r days ana although :he commission
F. Tr~o1ded that this tine be extended TO
Pea lz-s. TIE committee saws i feels thai
~.a 6ae diligence the commission can de
te1.7e villin the tire allotted whether
ua 7ease should be approved
ts tc tEe provisions relating 70 through
te--as ard through rates TIE shippers
s- -c route shipments AMI the making Of
s reports, the majority follows the
-4r ~ argument advanced b. Attorney
genera. Wickerslaasn 81 his published ab-
srs~i Of the bill Concerning the impor-
;aa- section relating 70 tie purchase of
nor-retiHg lines, the report SAYS:
Some criticism of this section has boen
- '-rgn the ground That II did rot pro
A.t NE acquisition By means of hold
0rE.rat atlon - stocks OF competing lines
n- e way The provisions % the sherman
antitrust Law 80 completely cover that
-ragHa tlrat the committee deemed II Un-
r.~lr 'nl-iouS in this act. For the same -ea-
-H- vas not deemed expedient 70 at
1T ~ 1eai with tre question OF com
.fHTI- or express com p2uleS or telegraph
-rH f..@nnone fOUpdnieS. because. where
..ui 1lns tl0T7s constitute 4 restraint Of
?. l.. rro Sherman act affords ample au-
'-.'-E--- 70 reach and prevent them
a--anuou IS called 10 tho fact thar the
h r-o~idez means Of ascertaininz by
ra..te. investigation ard determination
crnar or nor z bona f5de contract pro-
1a.Cd 20 De entered into respecting the
= rr0u % stock or property OF rail-
rs iu vocation ri the prohibitions ~
;ac sherman act before large investments
c apra. are made ir reliance upon q.
ti'tS-ilfl- ftIN llllSorE
~ 5r-- This provision is held 70 be Of
obvious advantage 10 The government for
reason that such an investigation
rr-a b. eonducted before the contract be
ne Elective.
1es 1- upon the provisions Affecting the
$50 ~ sock and bonds. The report takes
7 trs e-a. side Of the questions involved.
-r 5 b. that regard Is defended, aud the
lra-- says 0t mis- feature OF the bill:
These provisions arc 50 framed 2 not 70
r-70- t.f ordinary means OF financing
.rpa grlHaDies. while lnteTDDsinG al
-..-7.l protection against the issue 0f
'a.z 0- bonds without adequate considera-
H i- ruav be objected that TIE provi-
SENS of -l..~ ac- DO not 70 far enough I'm
Eating the Cau'rs iZstlon 81 railroad
o-lora- ars mn a8Ddid critic .-an fa;l 20
'' tra- -aey constitute : long step in
.--ertiC- of establishing Sf.CD national
e'loH a-d supervision UiH prevent
'-'1r7 oEe~fssyc Of stocks auu bonds
interstate q --ieTs and that they 20 a
7- oruO-rt iesis2Li0n should 20 ID en-
1pG1 this new ficld OF natiora, re-
-' -rou r-a issue q stocks orG bonds
Tsfata carriers.