New-York tribune., 1910-12-07
INTERSTATE
COM MERGE.

49,. .,ss -,o- been tine 70 test the benefit
.,4t-,, NJ -ha amendments 70 the in
--rs-ste commerce law contained II ne
act apprcved June Z. 1916 The Ia" as
ena~1sd die not contain all the features
which 7 recommended Il did not speciL-
Ills, ,5e-ounce as unlawful the purchase by
-,ne Of two parallel and competing ROADS
Of tho stock OF the other. Nor did II SUD
,ee.f re the restraining influence of the IN
rerstate Commerce Commission the power
,,f ro-nors+ions engaged in operating in
,erstate railroads 70 issue new stock and
l,o-ds. nor did il authorize the making OF
temporary agreements between railroads.
limited TO thirty days. fixing the same
rares for traffic between the same places
do not press the consideration OF any
of these objects upon Congress at this ses-
sion The object OF the first provision is
probably generally covered by the anti
--Jsr law The second provision was in the
acr referred TO the consideration Of q com
mission 10 be appointed by the Executive
and to report upon the matter 70 Congress.
That commission has been appointed and is
engaged IL the investigation and consid-
Grafton OF the question submitted under the
law L consists of President Arthur r.
Hadley OF Yale University. as chairman:
Frederick c. Strauss, Frederick y JudsoD-
Professor B. H Meyer and Walter L
Fisher with William E 3 Grlswold as
secretary.
The third proposal leo 10 so much mis-
construction o3 It's object, as being that Of
weakening the effectiveness OF the anti
-rust Law. that ! am not disposed to press
II for further consideration. II was intend
ed 10 permit railroad companies TO avoid
useless rate cutting by mere temporary
in
same service over competing railroads. with
no obligation whatever TO maintain those
rates for any time
Safety Appliances anu Provisions.
The protection OF railroad employees from
personal injury Is subject of the highest
Importance and demands continuing atten-
ZION. There have been two measure. pend
ing in Congress, one for the supervision of
boilers and the other for the enlargement
"l dangerous clearances. Certainly some
measures ought TO be adopted looking 10 a
prevention Of accidents from these causes
L seems TO me that with respect TO boilers
bin might well be drawn requiring and
enforcing by penalty proper system OF
inspection by the railway companies them
selves which would accomplish our purpose
The entire removal OF outside ciearauoes
would be attended ny such enormous ex-
adopted. b. &c. OF MAJ t. 1910. the Inter
state Commerce Commission Is authorized
and directed 10 investigate accidents 10
report their causes and lis recornruends-
tfcu- J suggest that the commission D..
requested 10 make a special report a. 10
n juries from outside clearances and the
l...-f inat nod Of reducing them.
Valuation Of Railroads
-F-..x 4,.,ot-..t. f-or,,,,,er,-.. .-,.,,..,,,..
commended appropria tions for The pur-
loee Of enabling n 10 enter upon a valua-
tom 81 all railroad This has always been
Within the Jurisdiction Of the commission.
taIt tho requisite FUNDS nave beeu wanting
- ~-s-iSties of fbe value Of each railroad
would be vsiuable for rnanE purposes. IS
l,e~isll- II ultimately enact any Hnu-
;stfcns upon the power of the Interstate
railroads 10 issue Stocks and bonds a. I
hope We NAY ] think Therefore that IN
order TO permit . correct understanding Of
tho facts II wo;sl5 he wise 10 make a rea-
soma BILE appropriation 70 enable the Inter
state Commerce Commission 70 proceed
with due dispatch 70 The valuation of all
railroads 7 have doubt that railroad
corr7psries themselves can and will greati,,
facilitate this valust tior and make it much
less costly In time sod moues than has
been supposed.
Fraudulent Bills OF Lsdir1.
Forged and frs udUleni bills of lsdIng
rl,rnorftne TO be ISSUED against cotton.
come mouths since. resulted IN losses Of