The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1910-06-14
RAILROAD NEWS.
Roads Are Holding the Bag"
Says President Ripley.
Head Of Santa Fe Pessimistic
Over the Outlook.
CUT DOWN EXPENSES.
Says All Roads Must Do This
at Once.
Other Items of General Interest
in Railroad World.

New York, June 14.-That the legis-
latures of most of the states are about
t. follow the example of the national
legislature and pass all sorts of laws
to harass the railroads was an opinion
expressed by President Ripley of the
Atchison, Topeka & Santa Fe Railroad
company this morning on his return
from Washington. MIR. Ripley was very
pesSimistdc over the outlook for the
railroads in their campaign to secure
freight rates commensurate with the
increased expenses of the roads which
have come with the higher cost of all
materials, of fuel and of labor.
Speaking of the recent conference at
washington between the railroad pres
idents and President Taft. in which
he was one of the negotiatorS, Mr.. Rip
ley said: 1T was not a victory for the
railroads. They are holding the bag
Just as they always did"
What do you think will be the out
come of the present situation?' he was
asked.
"Quien sabe?" he answered, with Il
shrug but let me tell you that no
increase that the railroads can possi-
bly, get in their rates, under govern
mental restriction, will begin to meet
the increase in their expenses"
do you see any relief ahead from
this condition."
MT. Ripley shrugged again,
There are legislatures in 46 states,
he said, that are going to follow the
lead of the administration and ineor-
porate in their laws all the restrictive
features Of the railway bill. And there
are an equal number of railway COM
missions who seem to regard 1t as their
mission in life to reduce railroad rates"
He was asked If he saw any evidence
of the beginning of such a wave or an
tagonism toward the railroads as ex-
listed in the west in President Roose-
velt'S second term
II saw some disposition In the west
ern states last year" he said, "and now
I think they are ready to begin again.
since the national government has Ia
ken the initiative"
who is back Of It all, In your opan-
icn?"
''Weu. you know there is always
class of politicians who depend upon
corporations, and particularly railroad
CORPORATIONS for their capital And then
there is a feeling in every backwoods
hamlet antagonistic to capital and as
the railroad is almost the only repre-
sentative of large capital they see, their
antagonism is focused on 1t, They
don't understand the working of Its
business. And a great many things
that ara necessary in its workings they
don't see the reason for"
what effect will this controversy
over rates have on the financial credit
of the railroads."
That is something of which am
in no position to speak"
us it likely that any railroads will
find it prudent to reduce their divi-
bends? %
THAT also I cannot discuss"
do you think the railroads will re-
duce their working forces?"
Everybody will have to do that"
us it possible that some of the rail-
roads will resort to sIhort-term notes
for their financing, instead Of trying to
float stocks or bondS?"
IT can't say; not by U.S."
Mr. Ripley was asked, in conclusion,
what he thought the present status of
the Sherman act was. 1t was the Sher-
man act in which the attorney general
sought his reasons for enjoining the
freight rate increases of % railroads in
the west.
In answer to the question he said:
You know as well as 1 do. Every
body knows now" He declined to be
more explicit.