The Manitowoc pilot. [volume] (Manitowoc, Wis.) 1859-1932, 1914-06-18


warn consumers not to pay such
prices. II people stand for 1t after the
commissions warning, they will sur
FER because of their own acquiescence
and not because of anything done by
the commission.
Now as to what the commission will
say with reference to the conspiracy
on the part Of the railroads. 1t will be
shown that the carriers deliberately
inaugurated this raid upon the public
in order to take care of the huge obll-
cations they had incurred and from
which the country has received no
| benefit.
| 1t Will be stated that stocks and
bonds were pyramided to point
where further additions were impos-
sible and then the roads went to the
banks and discounted short-time notes.
| Finding themselves unable to borrow
anything more they devised a cam
paign to drive the commission to in
crease rates.
They went to the banks and told
| them of their condition and urged
them to apply pressure upon the COM
mission, They asked corporations and
others with which they had business
connections to write to the commits
sion. They had the banks tell their
| customers to communicate with the
commission and urged these customers
to impress upon their customers the
need Of additional revenue for the car
riers.
Create Endless Chain.
Thus an endless chain was created,
and thousands Of letters poured In
upon the president, the commission
and congress At the psychological
moment the railroads began to cut
down their orders for supplies and
new work, and the result, it will be
charged, is the condition of depres-
sion which exists.
Thus the commission will indorse
the charge made by Senator La Fol
lette in his speech of last month that
concerted campaign had been inau-
gurated and was being conducted by
the railroads to force the commission
to depart from it's sworn duty. In this
connection Mr.. La Toilette furnished
proof of efforts to control the decision
Of the commission
Financial Skyrocketng Shown.
Nothing more clearly shows, in the
view Of the commission the condition
OF the railroads due to their own n
nancial skyrocketing than the results
OF the investigation of the New YORK,
New Haven & Hartford railroad and
the examination of the affairs Of the
Baltimore & Ohio.
President Willard of the Baltimore
e. Ohio has been the principal spokes-
man for the railroads. It appears from
the facts elected by the commission
that his road has an Understanding
debt OF $79,000,000 and an annual de-
felt OF 100000, which is not surpris-
ing in view Of what has been done to
the road.
II is pointed out that some years
ago J. Pierpont Morgan & Co. endeav-
ored to rid themselves of the Cincin-
natl, Hamilton & Dayton and the Pere
Marquette, with obligations aggregat-
ing s23,000,000 They sought to have
It bought by the Erie. But +. II.
Hartman was alive at the time and
he refused to permit anything Of the
kind. Then Morgan e Co. gave in
structions to the Baltimore & Ohio
to take the property. They did so
and paid the Morgans commission
OF more than two million dollars.
High Finance Blamed.
The high finance" 1t is asserted.
accounts in part for the inability OF
the Baltimore & Ohio to rey expenses
even upon the rates allowed.
There is no doubt the commission
in the preparation of its decision has
endeavored TO be absolutely fair and
just, to give to the railroads that to
which they were entitled and to keep
from them that to which they were
not entitled.
The decision, It ts said, ought to
convince the country that the commits
sion has acted with a regard to all the
vast interests involved; and ii is pre-
dicted that when it Is announced there
Will be satisfactory change In bust
ness conditions throughout the United
States.
The commission will not report
finally upon the investigation into
spotting and lighterage charges, the
free privileges" which have been en-
joyed for such a long time by certain
big shippers. A special report will be
made later upon this matter In the
end these free privileges will be
condemned and forbidden. Millions OF
dollars, It is said will be saved TO
the railroads II such practises are
stopped