Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1912-12-23
ONPETIT|ONBY
WATER ST|FLED
BY ROADS
Commissioner of Corporations
Reports Condition That Must
Command Attention.


t..-y stiied by the railroad interests
though the purchase Of steamship
Tines. was shown in report on trans
,..rt9tion by water in the United States,
Tart A." which was made public by
luther Conan., j., commissioner Of
Operations 3
Tb. report states that 90 per cent Of
Inc canal traffic of the United States
IS I'm the hands of the railroads; that
t.- Atlantic seaboard gulf and Pa
..d. coast steamship companies are al
,.a.t entirely controlled by the land
,-srsroltation companies, and that the
Steamship trade on the Great Lakes IS
controlled by these interests to a mark
.r degree. The objects Of railroad con-
-.,. oyer domestic water carriers, says
.-.- .sDurt. is to eliminate the competi-
+an of water carriers. to attain en-
traa.a into territory not open 10 their
rail lines and to secure valuable feed
sr.. mainly local lines.
More Power Needed.
The report goes on to state that the
conditions set forth can not fail to
command attention" and that If there
is To be any successful attempt to in
crease competition in domestic water
+.afic the interstate commerce com
MISSIONS Jurisdiction over joint rail-
water traffic, particularly with re-
gard to the establishment Of joint rates
between co-carriers, must be far more
generally established than at present.
Particular attention is called to the
Ipouopoly Of the New York, New Ha-
wei, and Hartford railroad in the water
ta.Hc of the New England states. With
respect to this matter the report stat
I'll:
For some ime past the New Haven
system has pursued a determined pol
icy of suppressing any effective com
petition on Long Island Sound: sew
nra}, at least. Of it's recent acquisitions
must be regarded as due to this policy.
on the other hand, some of its earlier
acquisitions came about largely as an
incident to the merger Of different rail
road properties into the present system.
Georgia Ry. Ship Line Owner.
considering only water lines direct
" operated or in which railroads own a
majority of the stock. and excluding
harbor craft, investigation shows that
twenty railroads control steam vessels
engaged exclusively in domestic trade
OF approximately 610, 900 gross tonnage
and line barges with about 200, 600 gross
tons. or grand total of $4,000 gross
tons, The tonnage OF the New Haven
system is the largest, aggregating a
little over 100000 gross tons, of which
l3b,5U0 tons is in steam vessels and
$500 tons in barges and miscellaneous
craft Next in Importance is the Union
Pacific Pacific. with a grand
Total excluding tonnage engaged in
t'reisn trade) of over 100000 gross
tons The Pennsylvania Railroad Com
Ianys water lines have $500 gross
tons in steamers and $500 tons in
batges; the New York Central, over
$4,000 gross tons; the Central of Geor-
ela railway, over 10000 gross tons.
The total capitalization of water
lines controlled by these railroads
tthis not covering holding companies
ana several very important unincorpo-
rated services) aggregates $50, S89,375
in stock and $31,263,S in bonded debt.
OF the stock $40223, 800 and of the bonds
Sl92ll,137 are owned by eighteen rail-
roads or their subsidiaries. In most
instances railroads own practically all
The stock Of the separately incorporated
water lines which they control. I'm
portant exceptions are the Pacific Mail,
lu which the Southern Pacific owns
only tritle over one-half the 100000,
200 stock and the Merchants and Mir
'tS transportation Company, in which
lae New York, New Haven and Hart
FORD railroad owns only a bare majority
interest, Instances where railroads own
stock in a water line but less than
majority interest are comparatively
few
Two Other Coast Lines.
'Of the regular line traffic on the
Atlantic and Gulf coasts not controlled
10y railroads the great bulk is controlled
by TWO important consultations, the
Atlantic Gulf and West Indies Steam
snip lines and the Eastern Steamship
corporation. With few exceptions. the
constituent companies of these consol-
cations had been subsidiaries of an
earlier mel ger, the Consolidated Steam
mp lines, which collapsed shortly after
formation in 1901
Except for railroad owned lines ana
vices TO Porto Rico, there is hardly
70 competing line of importance oper-
ing between the domestic potts serv-
'D by the Atlantic, Gulf ana West In
''"- Steamship lines.
While there appears to be no inter-
'Nnership Of stock between the At
'ntic, Gulf and West Indies Steamship
hes and the Eastern Steamship Cor
.oiaton, the two concerns have several
-Iectors in common, which indicates
considerable community of interest.
moreover, as above noted. the New
YORK New Haven and Hartford rail
road owns considera BILE stock interest
I'D the Eastern Steamship Corporation,
Out appears to be without direct rep
eSehtation in the management
Canals Abandoned
IN addition to the interests of rail.
ROADS in steamship lines #brief mention