The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1910-01-03
Six Presidents of Big Railroads
Visit Taft
To Discuss With Him His Forth
coming Message.
SEE TROUBLE AHEAD
Ii the President Persists i'm His
Declared Intention.
Interstate Commerce Declara-
tiOn Will Go i'm Wednesday.

Washington, Jan. 3.-PreSident Taft
had an extended conference today with
presidents Of six of the railroads Of the
country, who had requested hearing
with him before the special message,
dealing with interstate commerce law
amendments, should be sent to con-
gress.
The railroad men came to present
their views regarding various phases of
the proposed recommendations as they
have CLEANED them from the speeches
Mr.. Taft has made from time to time.
Those attending were Attorney General
Wickersham, President Mellin of the
New York, New Haven & Hartford
railroad President McCrea OF the
Pennsylvania railroad; President Lovett
of the Union Pacific railway and allied
Hartman lines; President Baer of the
Philadelphia & Reading railway; Presi-
dent Findley of the Southern railway,
and President Brown of the New York
Central railway
1t is understood they sought to con-
vince the president that further legis-
lation at this time would upset cOnd1-
tions in the railway and Industrial
world which generally had been right
ing themselves in the last two years.
The railroad men seemed rather de-
jected when they left the White House
and it was inferred their mission so
far as holding up the presidents special
message was concerned was a failure.
President Taft said after the confer
ence that III still expected to have his
interstate message ready for congress
Wednesday noon.
President Taft listened attentively
to all the railroad presidents had to
say, but did not commit himself in
any way.
The president told his visitors he
/ eyf Cf a n
sideration in anything he might do
affecting the railroad interests.
Attorney General Wickershan1, after
the conference, declared he could say
nothing, absolutely nothing"
The railroad presidents were almost
| equally uncommunicative. President
Brown of the New York Central said:
1--WE, came to offer a protest against
the. proposed amendments to the in
lterstate commences law aud we re-
ceived a respectful hearing
| President Finley of the Southern
railway said the protest was general
against proposed railroad legislation
at this time. The railway men said
they asked for the interview and that
any statement concerning it must
necessarily come from the White
House.
! Taft's Recommendations.
| One of the recommendations which it
/ is believed the president will make to
| congress Will prevent any Interstate
railroad company from acquiring stock
in any competing railway and will fix
the time limit within which railways
holding such stock shall dispose of it.
| The president it is said will recon-
| mend that no railway company en-
| gagged in interstate commerce shall is
| sue any additional stocks or bonds or
other obligations except with the ap-
| proval of the commission based upon a
/ finding by the commission that the
| same are issued, first. for purposes au-
thoriZed by law, and second, for price
not less than par for stock and not less
than the reasonable market value for
bonds, such price being paid either in
cash or in property or services, and il
in property or services then at a fair
value as determined by the commission
These are the amendment to which
the railroad presidents are said to have
most strenuously objected.
The president is said to believe how
ever, that by these provisions enforced
with reason in the beginning, the evi
/ which is involved in one competing
railroad owning the stock of another
will be gradually abolished; that the
over-issue of stock and bonds and wa
tering will be prevented, and that the
railroads will be kept efficient fol
the services for which they were in
4 tended