Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1914-10-30
Samuel Untenmeyer Makes
Sensational Address Before
Bonneville Club of Salt Lake
City,
RAILROADS SHOULD BE
CAREFULLY SUPERVISED
Discusses President RipIey's
Suggestion and Says II
Does Not Go Far Enough
10 Solve Problem,

tsr MORNING JovRsAL srsetAL LEASED wiRri
Salt Lake city, Utah. oct 99.-'l'hc
time has long since passed for the
claim that the government should not
Interfere with business" declared
Samuel Untermeyer, the New York
lawyer, in addressing the Bonneville
club here tonight. THAT aphorsm,
he continued, applies to a bygone
day when business was small and To-
cal We all recognize now that for
years past business has controlled the
government and the time has come
when government must regulate and
control business"
The speaker named among the
leading problems Of the day railroad
control the protection of minority
stockholders in big corporations. reg
ulation Of these corporations in the
public interest, regulation OF stock
exchanges ard the present cotton sit
uation.
Suggests Reform Plan.
Vast abuses in which the public is
the helpless loser have grown up IN
all of these problems except the cot
ton problem. the speaker said, and
he made suggestions for reform.
Touching the railroad situation, he
said:
Confidence in their stability has
been SO far destroyed that upon the
opening Of the exchanges we shall not
only have foreign holdings dumped
upgn Us beyond our capacits "a ab-
sorb Them but we shall find our home
investors equally preeipitate in their
desire to unload
A number of the great railroad sys-
TENS, he stated. are either in the
hands Of receivers or on the verge of
rcceivershlps Government supervi-
sion thus far has proved superficial, T
he declared.
Mr., Untermeyer placed little stool,
in the assertion Of railroad chiefs that
their troubles are due to the exaetions
Of labor and hostility of the govern
ment
Bames the Railroads.
Il think it will be found, as re-
suit Of the physical valuation of prop- /
critics that is now under way. and I
Of an investigation of moneys that !
have gone into the properties that I
they are paying remunerative re- /
turns upon the actual investment, ex-
cept in instances whore the roads |
were badly conceived or dishonesty |
or incompelontly. managed he con- (
tinued
The visitor referred to the sugges-
ton made by President Ripley, OF the +
Santa Fe road at a dinner of the I
Knife and Fork club at Kansas City ,
recently, that the government shall /
guarantee the roads certain percent
age of earnings and that the govern /
nent be represented on the board Of (
directors. Mr. Untcrmeyer asserted
that the Ripley plan had at least the
germ Of practical solution but he /
thought that Ripley wanted too high
percentage Of earnings guaranteed.
untermeyer added that governmen,
representation on the boards would
not be enough the government
shoul control the boards. he said.
Scores the Money Trust.
Characterzing the so-called money
trust as the most elaborate, ingen-
ious and perilous olgarchy Of credit
the world mas ever Known Mr. I'm
termeyer said the currency bill and
the Clayton antitrust bill would help
To curb IL, although the
Clayton bill does not go far enough.
lie mentioned as remedies still re-