The Richmond Virginian. (Richmond, Va.) 1910-1920, 1912-12-23
All Hope Has Been Sys-
tematical'y Stiiled by /.
Purchase OF Lines
CANAL TRAFFIC is
IN HANDS OF ROADS
Atlantic, Gu f., Pacific and
Great Lakes Controlled
by Land Transporta-
ito Companies

WASHINGTON. Ice. 22.-rhat all
hopa of competition between the rail-
Toaus and water carriers mas been
Systematically stiiled by the railroad
interests through the purchase VI
steamship lines was shown an a re-
port on Transportation by water In
the United states, part L." ~nich was
made pubic here tonight BY Lu.ner
Conant, Jr.. commissioner OF cor
porations-
The report stated that 30 per cent
OF the canal traffic OF the United
States VAS in the hands Ut the rail-
roads; that the Atlantic seaboard.
gulf and Pnclfsc coast teamship ctm-
anies were Almost entirely controlled
~ the land transportation companies:
and that the steamship trade on the
Great Lakes was controlled by these
intt rests to a marked degree. The
objects OF railroad control over DO
niestic water carriers. says the re-
port, In to eliminate the competition
OF water carriers, 10 attain entrance
Into territory not open 20 their rail-
lints and TO secure valuable feeuers.
mainly local lines.
Conditions Command Attention..
The report goes on to state that
Tue CoauItioh5 sci A"ieH SaunoA A0'.
TO command attention. ana lnas, "
there In to be any successfui attempt
To increase competition IN domes'c
water traffic the interstate comB rec
commissions jurisdiction over Joint
rail and water TRAFFIC. particularly
with regard to the establishment OF
Joint rates between co-carrterA must
be far more generally established 'aan
at present
Particular attanuun - called % the
monop0lS u tina NsW o1ks NeW
Haven and Hartford railroad ~ the
water frame Of tne NeW Eh6iaHg
States. with respect TO TINS Haatse'
the report STATED
For some time past the new
Haven system mas pursued de.ef-
mined policy OF suppress.nE any enec.
tive competition on Long Isiano
Sound. several. at least OF It's recent
acquisitions must be regarded az que
to this policy. On the other hand
some OF its earlier ACQUISITIONS came
about largely as an inc'dent to the
merger OF danerent railroad proper
ties into the present system. Con
troll OF the Merchants ana Minors
Transpertaticn company 10 ciaimeo oy
the New Haven interests to nave
been sought In order to secure oirecs
access to southern territory however
elimination OF competition was also
an important factor.
Great CApseaiixatton-
The report in part follows:
Considering only water lines d.
rectiy operated or in which railroads
own majority Of the stock. and
excluding harbor craft. investi cation
shows that twenty railroads control
steam vessels engaged exclusively In
domestic trade OF approximately
6i0.ooe gross tonnage and line barges
with about 100000 gross tons. or .
grand total OF $4,000 gross tons.
The tonnage OF the New Haven sys-
tom IL the largest. aggregating lit
tie over 100000 gross toms Of which
1ss-soo tons Is In steam vessels and
<3.6oo tons In barEes and miscel-
isneous craft Next in Importance
IL the Union Pacific Southern Pacific
with grand total excluding ton
mage engaged In foreign trade) OF
over 10000 gross tons. The Penn
eylvania railroad company's water
iines have $500 gross tons In steam
ers and $500 tons In bsryes' the
New York Central. over $4,000 gross
tons: the Central OF Georgia railway
over 10. COO Eross tons.
THE total capitalization OF water
llnes controlled ny th.ss railroads
Sthfs not covering holding companies
ana severnf YER, important unincor-
povasrd services,. aEgreEsta. 49,
S3s&7s In stock and $3l. :s3.ss7 In
bonded debt. az tho stock $4o.z2s,
soc a-d OF .h~ bonds $ls.2li.t3i
are owned by eighteen railroads OF
their subsidiaries, 1, most instances
railroads own practically all the stock
Of the recarxteir Incorporated water
Hines. which they control. Important
exceptions are the Pacific Mall in
whsch the Southern Pacific owns
o~,v fri6@ over one-half the $40.
on0 ono stock. and the Merchants and
Mi~~rs' TRANSFORMATION company. Ii
which the New York. New Haven and
Hartford railroad owne only bare
majority interest. Instances where
railroads own stock IN water lins
hut less than majority interest are
No lmrrtant Comrtstiop.