Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1914-12-19
Interstate Commerce Commits
sion Finally Grants Petition
of Carriers, Except as to|
Coal and Iron Ores,
PRESIDENT WILSON
PLEASED AT ACTION
He Believes Decision Removes
Last Obstacle to Resump-
ton Of Prosperity Through
out Country.

iss sosriro -oussst s~se,al lsssso wirsi
Washington. Dec. lS.-Further in
creases In freight rates were granted
today to the eastern railroads by the
Interstate Commerce commission In
decision in which Chairman Harlan
and Commissioner Clements dissented
vigorously.
Whth the exception Of lake and rail
traffic. coal, coke, iron ore and GER
tain other traffic on which the com
mission has heretofore fixed rates adj
Judicated reasonable" all the rail-
road systems operating between the
Atlantic seaboard and Mississippi
north OF the Potomac and Ohio rivers,
were allowed the flat five per cent
Increase for which they have been
asking during the last four years
VIII Raise About $50. 200. 900.
The roads hoped to get increases
which would add TO the annual reve-
nue some $4,000, 900. The commits
slon's decision is expected to give
them additional revenue approximate
ing $30.000,000. The roads east of
north and south line drawn through
Buffalo. Pittsburgh and Charleston.
w Va. won by today's decision the
increases other than on the traffic ex-
pected which were denied them In the
decision last August.
The roads west of this line. which got
partial advances in the August deci
sion, received further advances, 80
that now all the roads In what is de-
scribed rs official classification terri
tory will enjoy uniform advances in
both class and commodity rates.
In its decision the majority of the
held that the roads had
in the latest hearings a
greater need Of additional net income
than ever before This was due, in
part. to exigencies which arose out of
the war in Europe. and In part to the
already existing necessity in the judg-
ment Of the commission. for addition
al revenues to maintain the railroad
Chairman Harlan Dlssents.
Chairman Harlan in his dissenting
opinion held that sufficient aid had
been given the roads by the decision |
Of August 4. last. and that the find !,
ings OF the majority were morally |
wrong" Commissioner Clements !
based his dissent on what he regard /,
to take cognizance OF |
in the making Of rates other
than their justice and reasonableness
In administration circles the out |
come OF the case was welcomed as a |
development of vast importance |
which would hasten and support the 1
expected general business revival. |
President Wilson issued no formal |
fstfs s.ff la nIa.
said he was greatly pleased over the I
lecision and expected II to have an
effect on the countrys |
economic situation. The president had
made no secret of his belief that inn
provcmelt of conditions generally |
was dependent, to an extent at least, |
Dn additional revenue being provided |
n some way for the railroads.
ConI and Iron Frcights.
Traffic on which no increase was
allowed by the commission represents
bout IS per cent Of the entire vol
Ime of freight handled by the roads. !,
GOAL. coke and iron ore, however. are
bulky commodities, taking low rates, !
the amount of revenue /
derived from them Is relatively small.
In the eastern district, ten per cent
# the entire volume of freight Is an
81 per cent bituminous coal,
i've per cent coke and five per cent
)res.
The coal roads. in the opinion OF
he commission. already are profita-
)le. Commissioner Harlan. in his dis
ienting opinion, said further.
Aside from the objection TO our
egal right and power, which per-
laps should be regarded as conclus-
We, there are grave doubts whether
he facts assumed by the carriers.
,ankers and others at the further
rearing are being verified by the
progress of events. The apprehension
# the bankers and others, most
itrenuously urged at the further
rearing as a reason for granting in
reased rates ut once. was that our
ailroad securities held abroad, would.
n consequence OF the war, be dumped
m our markets with disastrous re-
ults. not only to the railroads. but TO
business interests generally.
Apprehension OF Bankers.
This Apprehension the bankers ap-
,arently have concluded to have been
o clearly unfounded that in adj
Tance of any decision by the commits
fOn upon tIt tttiltio tOuttiltiOilS dt |
he further hearing. the greatest
inancial interests in control of such
matters have not only caused the
took exchanges. which were closed
/ the beginning of the war; to be re-
pened, but have now caused the re-
noval of all restrictions upon trading
n such securities. the minimum
rice Limitation having been with
rawn.
1T also appears from public
ources that since the further hear
ng interest rates. instead Of increas- Il
ng. as confidently predicted by the !,
xperts who then testified. have
hown downward tendency and
ince the date of the original report Il
he averaging operating ratios of the
mes in official classification terri
Dry have shown marked improve
lent. II at any time hereafter it Il
hould definitely appear that the car !