The Washington times., 1910-06-12

OF men as deeply Interested IN trans
I portation affairs as George ". Per
Rockefeller, OF the Standard OH Com
pany, and Z. T. Ripley, OF the Atchi-
| son, Topeka and Santa Fe railroad.
or the impending measure, Mr.. Per
! kins remarked. when II (the blll)
becomes effective, the railroads, snip
pers. public investors, and the Gov
eminent Will no longer be at variance
with each other, and the far-reaching
permanent effects OF this can scarcely
| be overestimated."
u, for one" said Mr. Rockefeller.
| "cannot-and I don't believe that any
one else can-tell at this time whether
the result Of the conference is favor
able TO the railroads .
Said Mr.. Ripley-'Fba Atchison road
/ will not depart in -uy 5eSree from the
policy OF general r, i,e- ,hment SO long
l as the general atti-vie OF politicians
! toward the railroads cc.tinues, and in
view Of the legislation with the rail-
, roads now pending in Congress no en-
| couragement is offered to investors TO
put their money INTO railway secur-
/ tiles. AS the case nov stands, the
| Government has virtual control Of the
| railroads without a cent Of money in
vested and without any responsibility
whatsoever"
When Doctors Disagree.
Here then are three opinions: The op-
/ tlmistio, the pessir Istic, and the in
| definite. Doubtless tne majority Of men
are in the position OF Mr. Rockefeller.
| unable as yet 20 determine the ques-
/ ton for themselves. This IS striking
| case OF who shall decide when doc
! tors disagree2" When the opinions OF
/ three men, each ar authority on the
question Of railway q ansportation, can
! differ so widely, IS there any wonder
! that the average banker OF broker. bust
( ness man or investo-, should remain
| uncertain as 10 the Washington de-
| velopment, and the merits OF the rail-
! President Ripley has been severely
! criticised for expressing pessimistic
| views Of the situation. but very many
/ shrewd and far-sighted observers in
| the financial district, speaking private
! ly during the week, have expressed
! very much the same opinions as TO
| the tendency of events In other words,
/ they see-or profess 20 see-an lmpend-
l ing change in the administration or
I the great transports ton Industry OF the
! country. a change which gives Fed
/ eral commission a larger measure OF
control than ever before, and, IN con-
] sequence, gives to the owners les
| sened control over heir own property
! This is not saying that the enhanced
! power Of the Interstate Commerce Com
mission will work harm 70 the railways,
| or give the shippers an undue adEan-
| tage over the owners Of the properties
I In fact. one can see. as Mr.. PerFt-s
points out some highly favorable fea-
/ lures IN the SUBSTITUTION OF a set ietA
plan OF procedure for one OF continual
variance, as now. on the part OF the
| Government in dealing with the trans
| porting lines
IN obtaining a larger measure OF con
! troll over privarelv owned corporations
! OF a quasi public character. the re-
/ sponSihilities Of the Government TO ad-
minister them fairly is greatly enhanc-
| ed. Nevertheless. men. In discussing
/ this impending change, are not all Of
l a mind and in II some see as a lOgi-
! cal outcome ultimate Government
| ownership OF the railways. and tncreas
| ing tendencies toward paternalism and
! socialism and owe and above ali, cap
| itaI IS timid It athors surprises. and
| 81 IS reactionary 81 any suggestion OF
] change in the established order OF
! things.
Bankers Cautious; Bears Active.
! Dizziness in the security market. Il
would seem. should result from all this
/ present uncertainty concerning a meas
ure so vital to the transportation in
| dustry a the railway bill, and intense
! the ceaEeless activity OF the profess
/ sional traders. To this element was
/ due the depression Of prices IN the lat
/ ter part Of the week. Naturally, oper-
/ atiGns for the short account were in
\ vited by the attitude Of important inter
| ests which are unwilling to do more
! than buy on a scale down This be
cause. although assured from Wash
/ ington that every effort viii be made
/ 10 rush the bill forward. and thereafter
\ that the process Of examining and pass
all dispatch. bankers, railway men. and