Wood County reporter. [volume] (Grand Rapids [i.e. Wisconsin Rapids], Wis.) 1857-1923, 1914-06-04

nouse was pledged to support the
president under a rule of the caucus
and this Of course naturally could be
depended upon to be effective in hold
ing progressive Democrats in line. It
already has been made to appear, how
ever, that the support of the progress
sive Democrats in TIE house was OBJ
tanned by the yielding of the leaders
to the demand that the house should
consider rural credit legislation at this
session, although this course was
against the presidents Will in the
matter.
Rural Credit Must Wait.
This does not mean at all that ru-
raj credit legislation will be put
through congress at this session, for
while the house leaders seem to have
yielded in the matter, it is understood
that the senate Democrats will stand
by the administration and put rural
credit legislation over until more
study can be given the subject and
more proof adduced that the present
currency bill in itself will not meet
the special demands of a farmers
credit system.
While it is virtually certain that the
senate will put through the admins
tration's antitrust measures, it is
probable the Democratic senators will
be compelled to hold what they call a
conference, but which in reality will
be caucus, in order to bind ali the
party members to the support of the
projected legislation. If the senate
majority does not hold a conference
it is known there are several majority
members who will be much inclined to
bolt when the voting time comes on
the antitrust bills as at present for
nj ated
Their Reasons Opposite.
The gressive-Republicans in the
senate are opposed to the present
antitrust bills because they hold they
do not go far enough. The conserva-
tive Republicans are opposed to them
because they think they go too far.
The combination which by remote
possibility might defeat the legislation
in the senate would be composed,
therefore, of elements which would be
seeking to defeat the bills for diamet-
rically opposite reasons.
There seems to be real hope among
the elements opposed to antitrust
legislation in its present form that it
can be defeated, but it seems a little
curious that this hope exists, because
Union fhipUc Tn hn
almost unquestionably all the Demo
Gratis will be found in line with the
administration. Some of them may
be a little sullen but no longer def
ant, and for party harmony reasons
they probably will vote as the admin
istration and the leaders wish them
to do. Party harmony sometimes must
be preserved at the expense of indi-
vidual opinion.
Probing Railway Finances.
For some time the interstate COM
merce commission has been investi-
eating the affairs of the New York,
New Haven and Hartford railroad.
The discoveries which have come
through inquiry, and in considerable
part through confession, have not
been of a kind to inspire the country
with the belief that cleanliness of
business dealing was the order of a
former day in the financial operations
of some of the officials of this New
England line.
The results have been such that in
quiries are to be started into the af-
fairs of other roads, those in which
the stockholders are said to have lost
money and in some cases to have
been burdened with debt because of
the manipulations of men whose daily
work is high finance"
Some time ago a resolution was in
troduced into the house instructing
the interstate commerce commission
to look into the matters connected
with certain railroad operations said
to be shady. Two railroads, the Rock
Island and the Pere Marquette, were
named. The resolution was not acted
upon by the house, but the committee
which had it in charge suggested that
the subject matter simply be referred
to the commission with the request
that it act if the conditions seemed to
justify action. The commission has
decided to act.
There is said to be no intention on
the part Of the members of the com
mission to investigate any railroads Of
the country whose financial operations
have not given rise to a reasonable
belief that they have INDUCED In
practises similar to those which have
brought the New Ravens doings into
the limelight.
There seems to be a belief on the
part of the commission that full pub
licity of the manipulations which have
brought trouble to innocent stock
holders is the surest way to prevent
bad conduct by high fnanciers" in
the future. The commissioners feel
ing apparently is that publicity of this
kind will be of much greater service
to the people of the country than the
trying Of the officials of the New
York, New Haven and Hartford under
pending indictments or the Indictment
and trial of other members of the
New Haven directorate as it was once
constituted
In connection with the determine
ton of the commission to investigate
where investigation is needed, a high
official says:
We are to go about the work with
deliberation, and after we have con-
cluded we believe there will be such
a quickening of the public Coincidence
as will Of itself make railroad mis-
management impossible for all future
cime. 1t may be some men will be
tried in the courts for their offenses;
as TO this 1t is now impossible to
speak with accuracy; but even IL
there should be such results they will
be Of infinitely less importance than
those which will follow the full pub
ucity for which we are planning"