The sun. [volume] (New York [N.Y.]) 1833-1916, 1912-01-11

il will be shown that two Of the thr"" vot
ing trustees of the Southern Railway
are J. = Morgan and George T. Baker
both of them directors. inernb"rs of the
finance committee and members ot The
executive committee of the United States
Steel Corporation; that Judg" Gary,
chairman of the board of TIA" big com
plny, was elected within II year or so to
the directorate of the Southern Railway,
that at ABOUT the slnc tim" there was
elected to tn" directOr.ltr and executive
Committ"" of IN. Steel Corporation Henry
Walters who controls tn" Atlantic Coast
Line Company of tUnn"CtlCu, which
control tn" Atlantic Coast lin" Railroad
which in turn controls IT," Louisville
and Nashville
The purpose of arguments such a those
will hc to prove that the policy Of the
railroads is the policy Of the Stool Cor
poratlon In tn" sam" connection there
will b" presented figures showing the
profits which the United St.Je- S,""l
CORPORATION derives from IT." railroad
properties which IT owns directly This
group of statistics Will head olI Win the
Duluth. MiseIh" and Nor,hera which
transports a great deal of th" or" from
the rich Mesiha range in Minnesota.
In the fiscal yelI l9o9-ln tnia company
wlion is owned outright ly Il srh.idil'y
of the Steel Corporation. pad dividends
oc 2io per cent. or nearly two and a half
times its capital stock. II Will Ne -hOwn
that ctl"r- of th" twenty -se""r railroads
owned 10y the company pay dividends
in excess of io0 per cent
The ldea IN connection with IN" ~
Statistics" said the repre- sentative OF
tho independents. is to rc'ut" he con
tcntion of the big company mat iud"-
pendents are charged u" more tor carry
ing ore hy the hjc company railroads
nan is charged aGa'ns; the rlC company
But he rlE company. receiving dividends
| ranging from ion per cent. upward from
some of il raiiroads secure" wh1, amounts
| to all intentS and purposes - u TchJt"
on lts freight charge
1T j. proposed also to 90 into the aHair-
uf the Iron and steel Institute. which
wae orGpui, ed at the in-tanc" ,f Judge
CRY and a. wh"-" conferences uuCh
has been said "hout prices. Gfic"r- of
some of our companies AZ" on -" u'iir!.
siaf uf III" institute, hut rui"~~ th"t" I"
"a change in conditions and method,
We will probably seer all conn oi'on
with ia"
II VS. a,so learned that movement
* under way To secure congress ,on|l
action on IN" proposition that an officer
or director Of - steel company 10" not IN
control of Transportation companies.
THAT L. really the gl~t nf IN" Who'll"
matter SaiI ~" rpokr-;il,tu oi ~" pro-
,"s' inc conpanIc>. "lf the -tco' ,,i,il"..-
is not divorced from the udu-poriajicu
business the independents cannot sur
vlv"
| While complaint Will be lodged against
the Illinois Central and the 81. Loui- and
san Francisco railroads a. we'll ~ against
the Southern and the I.ouieyill" and Nash
Vile, the charges will h" directed prln"i-
pally against the two latter. Il"r" II
u feeling among the manufacturers thar
the other roads would grant reductions
! hut for fear of starting rat" w%r with
the others Il l. To the interest al IT,
roads they argue. to grant u reduction.
I for ruCh action would stimulate business
/ for he railroads ~ well a. for the rauL.
faCturcrS