New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-05-04
Antitrust Bills Still Alive.

viewed with some misgiviugs.
Anti Trust Bills Still Alive.
Little hope remains that Congress
will give up antitrust legislation at
this session. The Senate is considering
a bill differing in some respects from
that introduced in the House. A pro-
vision Is included in the Senate meas
ure for regulating corporate financing
and forbidding the issuance Of
"watered stock" Price fixing is not
allowed, and there Is no attempt to
free trade unions and farmers organ
izations from the operation Of the Sher-
man law. Organized labor has already
made demands that the provisions OF
the House bill in their favor be made
stronger and more specific.
Despite the urgent need for the regu
lar army elsewhere, the President was
forced TO send troops to keep order in
the mining fields of Colorado. Here, as
elsewhere. IT has proved poor economy
for r. state to delegate to employers in
la Dor dispute its duty OF protecting
life and property. Agitators are quick
to seize the opportunity Of convincing
the strikers Of what many from their
experience in foreign lands are ready
to believe. that the government IS
their enemy and that they should
despise rather than respect the laws Of
the land.
Meanwhile arguments as 10 whether
the present revenues Of the Eastern
railroads were sufficient for their needs
was finished before the Interstate Com
merce Commission. and a decision
should come around the first Of June.
The special counsel to the commission
having indicated his belief that some
increase in rates was necessary, a
favorable result was expected. How
materially the credit Of the roads will
be aided by such a decision, II no
opinion as to how additional revenue
is TO be obtained accompanies 1t, is
a question. When the date for the
closing argument was set, II was I'M
derstood that the adequacy of the pres
ent revenue alone would be decided and
that later. if necessary, there would be
considered how income could be In
creased. This would mean that actual
raising of rates would remain In doubt
until late in the summer.
The demands of the public for de-
velopment of railroad facilities. 1t was
pointed out by representatives Of the
road. require continual investment OF
new capital on which adequate return
must be made If It is still TO be drawn
from private sources. This new capt.
tai. il was estimated. had averaged for
the last ten years 5000. 100000 year,
spent by the petitioning roads in prop
orty investment. and at least an equal
volume Of expenditure should continue.
Yet i'm 1913. with investment lila per
cent greater than in 1910 and gross
revenues 1900 per cent better, net rev.
enues after taxes were. according To
the figures presented TO the commits
sion. diminished nearly 3 per cent. The
increase I'm wages alone in the three
wears amounted TO nearly Sl,VOcoo a
wear more than the S50OO0,OcO which
the . per cent advance In freight rates
would bring.
During the week some progress was
made toward clearing up immediate
problems OF railroad finance. The New
York Central announced its plan fol
making the Immensely profitable Lake
Shore an integral part OF It's system
This will not only add the Lake Shore's
earnings direct TO those of the system
but will also allow Central bonds 10 be
based on the mileage Of its subsidiary
hitherto comparatively lightly capital
lied. The New Haven, through sale OF
$50. 600. 900 notes. provided for sim
liar short term obligations soon 10 ma
ture. and further issue OF Sloopp,w
IS to provide additional capital Be
fore the close OF the business week
rather definite reports indicated that
arrangements were under way foi
meeting the S25,0O0.O00 notes of the
Missouri Pacific, due July l. which