Ottumwa tri-weekly courier. [volume] (Ottumwa, Iowa) 1903-1916, 1911-02-25


economy in their business.
II In his opinion in the western case
Commissioner Franklin X. Lane point
out that the western roads have in
: creased their surplus over one hun
dred per cent in ten years. The opin
+, ion holds that the carriers do no
: need larger revenues for purposes .
r maintaining their credit
Create Artificial Markets.
The position is taken that the rea
sonable rate as defined by the railroa.
men makes the traffic manager contro
the economic conditions of the, countr,
v setting at naught tariff laws and ar
: officially creating markets and center
Of industry
t Railway materials are found not t
) have increased; fuel has increased
slightly and wages considera bly,. How.
ever, the la st six months of the yeal
: Of 1910, show for the carriers the
largest operating income they have
ever enjoyed in any half year.
In the southwestern case. the opin-
I ion in which was prepared by Com
missioner Harlan, the amount of the
increased revenue involved was not
so considerable as in either of the
other cases.
, In the rate revisions the first class
rate from st. Louis to Texas points
was increased from $1.37 to STAT and
corresponding increases were made in
the other classes and the commodity
rates, also were substantially increased.
The rates, not merely from st Louis
to Texas points, but from all points
east of the Mississippi river to Texas
points were raised. @
Decline to District Advance.
! Commissioner Harlan finds that the
carriers In the southwest have not
lr,xy !, r,p,to
! of the country and declines to disturb
the advance in the first class rates.
The opinion fixes the second class rate
Lat $1.25, instead Of 1929, and orders
the old rates on the remaining classes.
AS the lower class rates affect an in
considerable volumeI of traffic, the con-
tentions Of the carriers Is substantial
ing their financial condition was such
as to justify an increase in their reve-
nues.
B, The decision Of the interstate COM
merce commission was a complete
surprise to Wall street, which had
looked forward confidently to the ap- |
prevail Of at least a part of the in
creases The decision was not an
nounced until after the stock market
had closed.
Since the first of the year stocks of
most Of the important railroads have
advanced ten points or more In the be-
lief that the roads would be permitted
to increase their rates being to an ex-
tent responsible.
Willard is Interviewed.
New York. Feb. 24.-"I hope it will |
develop that we were all wrong and |
that the Interstate commerce commits
sion is right" declared President DAN
iel Willard, Of the Baltimore & Ohio
railroad.
'.Will the, decision effect a curtail-
ment in your plans for improvements? ?"
Il should say it WILL was the reply.
Blow to the Railroads.
Philadelphia, Pa. Feb. 24-"The de-
cision will be great blow to the rail-
will get along said George F. Baer.
president Of the Pennsylvania and
Reading companies
Stock Market Reflects Decision.
New York, Feb. 24.-The stock mar
ket today reflected its opinion of the
Interstate commerce commission de-
cision against increased freight rates
by heavy sales of stock at sharply de-
clining prices from 2 to points from
the close of last night. Selling began
early in the London market, where tho
decisions were recorded.
The security values of some of the
western railroad stocks showed aver
age losses Of five points from yeSter-
lay. Southern Pacific was off Az at
he opening: Northern Pacific slump-
ID five points; st. Paul was down AZ
Northern Pacific dropped Az. while
Atchison sold at 1924, decline of AZ
points.
Industrials were also affected, it be-
ng contended by floor traders that the
would not be very heavy pur-
.hasers Of material. The steel common
sold off 3R points; Amalgamated Cop
Der was off 2B. Bears took advantage
If the situation and forced declines
wherever weak spots were found
There were evidences of support and a
air volume of short covering.
Reading was one Of the weakest
tocks on the list, showing decline OF
~ points while Great Northern pre-
erred sold at 122, O. slump OF Is
Joints.
Rock Island Head Comments.
Chicago, Feb. 24-The interstate
commerce commissions decision
gainst the increase Of freight rates
vas designated negative proposition
-one which would show it's effect IN
way that would not be apparent to
he general public by President II. U.
fudge Of the Rock Island railroad sys-
EN-, on his return from New York to- |
ay.
Mr.. Nudge, however, said the de-
ision would not tend to help the rail-
Dads in extensions and betterments.