The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-05-08
SETH LOW HEAD OF
COMMERCE CHAMBER
Elected President, Office Which
His Father Held Fifty
Years Ago.
MANY AT INAUGURATlOy
Address Discusses Application,
Of Railroads for Increased
Freight Rates.

Seth Low was elected yesterd,, r.. .,
dent OF the Chamber OF Commerce , no..
ton OF honor to which his father. Ahs
Abbot Low. was elected fifty years a,o
DIR. Low succeeds John Claim. WIN l.,
been president for two years.
a distinguished body OF represe,t,t,,.
| citizens was present at the 146th annual
| meeting of the chamber yesterday TO ,lsc,
DR.. Low and other officers and to thank
the outgoing president for the progress,
made by the chamber during his admini..
tration Among them were Paul NJ. War.
burg and Frank X. Sturgis tho vlce.prc,.
dents A. Barton Hepburn, Henry Clev,
Il. II. Outerbridse. a. u. Juilllard. Fol-.
NJ. Warburg. Francis q. Langdon, l.. n.
Bethel. Isaac n. Seligman.
Or. Lows speech constituted an appeal
for cooperation for general good, A ploa
| for the extension of media In tho set.
tl,ment Of commercial disputes and a
sturdy discussion OF the application q.
the railroads for an increase In freight
rates.
This last phase OF his speech WAS mora
discussion OF the fundamentals made
an issue by the demand than Of the de.
| tails OF the question at Issue.
| rs Government regulation TO hc u.
| equivalent of Government strangulationy'
Dr. Low asked, and he argued that the
real vital point of Importance In our de-
| velopment was to satisfy the investor that
| under Government regulation rates could
| be increased If necessary as well az dc.
| creased IL necessary. Tho latter point
had been proved. he said. Government
regulation. he declared. to be successful
as a permanent policy must be a. ANXIOUS
TO provide adequate earnings as 10 estab-
| lish proper standard OF service and
suitable rates of fare. He said
The country IL fully committed and
as ! think properly, to the public reguA.
| ton Of Interstate railroads. II viii never
go back to the uncontrolled private Own.
ership and operation of such railroads.
| what the investment world. outside o,
/ III" United States as well as in II. needs
now to understand is that under public
regulation rates can be increased DIS We'll
as charges The psychological importance
| Of tho decision about to be made 10y the
| Interstate Commerce Commission on ths
| question seems to me far to outweigh
any question of dollars and cents M
mediately involved either to the rail.
roads or to shippers. The question at
Issue at the present time is not SO much
whether rates of freight on the Eastern
railroads can be advanced . per cent. or
any other per cent.
| The view Of organized labor as rep
| resented by the American Federation u
Labor is that the interests of capital and
labor arc not identical, hut that they at'
at any given moment reconcilable. WHY
should not the chamber work for the
! reconciliation OF these interests in every
| possible Way
II" sand that the keynote of tile cha m
her an Al public questions that affect IA.
uoual interests should he ''cooperation for
the general good" and that the chamber
should not be swerved from it's generous
ideals to selfish attempt to advance
the interests of New York state and city.
He continued:
"This community has rare opportun =
! at hand for the illustration of this spirit
in connection with the new banking and
| currency law. 1t is perfectly understood
that IN some particulars this law is not
what the banking interests of New YORK
would have liked. Some 20 30 far AS 10
| think there has been an animus in certain
quarters to strike AT the preeminenc"
of New York in the financial life OF tns
nation.
"lf they do this and time indicates
that the law nevertheless stands in need
of amendment. amendments will ceSi'r
come; and when they come the Judgment
of the experienced men OF New York
will carry the weight that IL should. But
If this chamber or the banking com
lnuntN were 10 take a Inherent dttitLle
and to he obstructive or even nou-coo0-
erative. then amendments to the law, when
they come, would be likely to he made
with no consideration whatever for the
opinion OF New York"
Among the other officers elected were
Vice presidents to serve for four wears
until May, l9ls--James q. Cannon, Anton
A. Raven. William skinner
Recommendation H. Porter.
! Stcretary--Sereno :. Pratt
Chairman OF the Executive Committee -
Euge MUS II. Outerhridgc.
, Chairman of the Committee on Finance
and Currency-Frank A. NaudcrNp
Chairman of the Committee on Foreign
, Commerce and the Revenue LaWs-We' +
ing Ring.
Chairman OF the Committee on Ir'e-~a.
Trade and Improvemeuts-Sam "
Fair2hi,d
, Chairman Of the Committee on the Haf'
bor ana ShppluG-philp \, :. frai H''
Chairman of the Committee oE lrslt-
auce---parwin L. Kingsley.
chairman OF the Committee on ste
and Municipal TaXation--lsaac y -.
man
chairman Of the Committee on Nb.'"'
, tou--Charles l.. Bernheimer
For Commissioner for Licensing S'''t
Hotels or Boarding Houses Ehen Do
Olcott.
NanOyrnN Covrrcr DIVES