Evening star. [volume] (Washington, D.C.) 1854-1972, 1910-06-07
BUSINESS WORLD Is GLAD.
Stock Values Boom as Result Of
Railroad Agreement.


ket today showed q violent transforms
ton from the demoraiized weakness Of
yesterday, and prices jumped in even
greater disorder than attended the slump
OF yesterday. First prices were from one
to over five points higher than last
nights closing.
The news that the dispute between the
government authorities and railroads
over the proposed advance in freight
rates had been settled at the conference
1t the White House yesterday threw
the uncovered bears into panicky con-
dttion, and they bid prices up on them
selves In their scramble to secure stock
Strong Advance in London.
London quotations at the time the New
York stock market opened showed prices
OF Americans / to over points higher
than yesterdays New York closing, and
first prices were run up over even that
level. Prices started, therefore, at to
4 points higher than their close Satur-
day, yesterdays declines being lost in the
excess on the recovery.
Buyers at yesterdays low prices thus
found profits accrued that were far IN
excess OF any ordinary movement OF
weeks: The rush to realize the profits
carried prices backward Immediately,
the reaction running from to 3 points.
The violent activity of the market kept
up to through these rapid fluctuations
CHICAGO. H., dune THE agreement
railroad presidents at Washington last
night regarding rates on western roads
will clear up conditions, according to
statements by presidents Of several big
roads.
S~,Ss
tic declared Darius Miller, president Of
the Chicago, Burlington and Quincy road.
1T puts the rate question entirely up to
tho interstate commerce commission and
does away with the legal investigation.
Within few weeks the commission
should fix the new rates and end the
entire matter.
1T seems to me that the Presidents ac-
ton Is the best that possibly could have
been taken to safeguard the interests of
certain that tho railroads will feel satis-
fed with the action of the national execu-
tive and tho railroad committee.
Differences Swept Away.
IT my undsrstandin OF the result Of
the conference 10 correct the railroads
and shippers have no differences now"
said Henry U. Nudge. president of the
Chicago, Rock Island and Pacific rail-
road. IAN differences seem to have been
swept away by the agreement to leave
the matter entirely in the hands of the
Interstate commerce commission. 1t seems
could have been taken under the existing
circumstances.
1T looks to me as if the railroads ana
shippers can get together in a hurry
now declared W. A. Gardner, vice
president of the Chicago and North
western railroad. THE decision seems
to be a perfectly fair one for both sides.
The atmosphere should now clarity and a
satisfactory agreement be reached within
a short time
Manufacturer Association, said: 1--WE
have accomplished what we set out to
do. All we were interested in was stop
ping the rates from going into effect, and
this has been done. If the interstate
commerce commission decides the in
ted we will have nothing to say
Shippers Defer Action.
A spirit Of calmness peryaded the OPEN
ing OF the shippers conference here to-
day, at which it had been expected that
a vigorous campaign would be waged
against the eastern railroads in their pro-
posed freight rate advance. Instead Of
Immediately demanding that the Depart
ment of Justice take steps TO block by in
junction the proposed advance the COM
mittee Of nineteen In it's preliminary de-
liberations seemed inclined to temporize
As result it is possible that the shippers
will decide to renew their request that the
rates be suspended pending arbitration by
the interstate commerce commission. as
provided by the new railroad act.
While the peace proposals were not
entirely Endorsed by the shippers. the tone
of the meeting was much less belligerent
than the previous one held here. Both
the eastern and western railroads are
represented at the meeting. although the
committee was appointed under the reso-
buttons passed at the meeting OF shippers
May II with reference only to the stu
alton in eastern or Official ella ssifcation
territory north Of the Ohio river and
east Of the Mississippi