The Birmingham age-herald., 1914-03-15
Rupture in Rate Fight

Rupture in Rate Fight There has been acute excitement this week over an important issue hith- erto quietly conducted. The freight rate problem developed several irritat- ing and possibly dangerous features. Ingenious and tireless trouble breed CTS" are accused of having taken dis courteous advantage of statistical data furnished the commissioners by the 52 railroads On the list of applicants for higher rates. The information was complete in detail, on the lines sug- gested by commissioners. It covered period of 10 years. instead of five years, as originally suggested by the govern ment representatives. More data was asked for by the commissioners. They condensed their demands into 72 addi- uonal questions, request that meant six months further time and large expenditure of cash-said to have beer. Tn excess of $150,000 (some put it as night as s400,000). The railroads con tinued the cheerful pose but suddenly unexpected fresh opposition developed, and the railroads were concertedly at tackled. greatly to their surprise Pre- viously there had been no rupture in the relations between the railroads and the government but within the last days more than one railroad represen- tative has publicly protested against tHt cHaHseu aItltuue or mem DerS or "the court" as the commission is sometimes called. The alleged unpleas- antness between the clements referred to is taken very seriously not only by Wall street hut by the general public. It Is openly acknowledged that there may be very serious developments growing out of the sensational explo- sion. The threatening phase of the controversy was a subject of quiet, but calculated discussion several days before the unpleasantness leaked out. It was a chief source of stock market depression.
 The Mexican problem. suspicion over the good faith and wisdom of several noisily exploited propositions before Congress and the country at large are not features to hasten the return of bull market.
 The irritation caused by half healed eruptions is not always soothed in a day Market historians and prophets are cautiously predicting that "hard times' will last through the year.
 Interest in Fall Campaign
 Early in the campaign, thought it Is, discussion oyer the general elections next November has already become an active factor in the stock market. The commonly accepted theory hereabouts is that the 1914 election will practi-
 
 years later. This theory has sufficient force already to be a live issue in the shaping of the speculative plans of the financial district marked change of front on the part of a number of very rich and influential men, is openly made theme of gossip and vocal speculation. The idea is enter tained with confidence by many that MT. Wilson will be so strong by the arrival of the nominating and voting season that he will be in full com mand, both in the nominations and election of a Congress, practically his own. A substantial faction among the rich bankers and financial leaders who were his warm friends until lately are openly opposed to the continuation of a full Wilson regime. The statis- tical fact is being already revived and gwen widest publicity for what it IS worth, that a heroic fight will be or ganiZed and waged to retain majoritie.s in both branches of Congress. The Wilson leaders in this neck of the woods are not in least disconcerted over the recollections of the vote in November, 1912, on which the President fell 1,296.5S7 votes short of major ity of the total cast for Roosevelt and Taft. After all, he Is minority Pres- ident who boiled more than 1,000,O00 more votes than next highest For d minority MT. Wilson has proved himself to be some man."
 A leading private banking house has served notice on the old banking trust" that hereafter the purchase and sale of new bond issues would be free for all" Partners in the bank ing house and a few friends person ally outbid competitors and took in a S60,000,00 issue of bonds at a fig ure which insured the impromptu deal a neat profit.
 Although 1t is solemnly declared that the old banking combination is not only formally, but actually disin- tegrated, 75 or 80 financial friends of high degree will do business on a per sonally independent basis. No, it is not trust; just a casual cooperation of friends followed by a casual di- xtic nF