Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1916-01-02
.PRENT|S DISCUSSES
RAILROAD REGULATION
Chairman OF Virginia Commission
Writes Article ON National
and State Supervision.
G.. & o. SHOWS IMMENSE Gal,
Gross and Net Income for November
Far I'm Excess OF Same Month Last
Year, When War Conditions Had
Caused Slump.

Judge Robert II. Prentis. chairman
Of the State Corporation Commission.
and president OF the National Associa-
ton of Railway Commits sioners. dis
cusses the relations between national
and State railway regulation in the
current issue of the Railway Age
Gazette which contains IL number OF
articles by prominent railway author;-
ties In review OF the year
"Co-operatiom between rational and
Judge rrentis is quoted as saying. "is
the remedy for any conflicts. incon-
sistencies and Determinations which
exist because Of national and State
regulation
Under decision OF the Supreme Court.
he SAYS. If there is unjust discrimina
ton in favor Of intraStatc rates and
against Interstate rates which have
been ascertained to be reasonable then
the Interstate Commerce Commission
has the authority to require tn. rail
roads TO remove such discrimination.
There are many things in conncc-
ton with regulation" ne says. (which
the State authorities can do very much
better than the Federal authorities
such as the regulation OF local rates
Federal commission can do many
things that the state commissions can
not do, such as the regulation Of inter
state rate and matters of a char
actcr which directly relate TO and pro
mote commerce between the States.
However desirable il might hc in the
interest OF simplicity and uniformity
TO have all the powers of regulation
lodged III a Federal mission. il can
not be demonstrated tina, such "a radi-
cal change in our system would he wise
OF produce any greateS efficiency"
Frank Trumbull. chairman Of the
board of the Chesapeake and Ohio
Railway. in the same issue. discusses
the proposed regulation by the Federal
government Of railway securities. ~
think there is no objection" he states.
and on many accounts IL is desirable.
that the issuance OF railway securities
in the future he supervised by the
Federal government. if the onerouS and
conflicting regulation as well az SUI
pervision by the various States of bond
and stock issues can he done away
with. This question is largely II bank
ing function. and is too delicate to
admit OF delays either at Washington
or at state capitals.
"In saying this. refer particularly
TO the question OF prices investors may
be willing to pay and which, as We
/ ail know, are subject TO Quotations.
some of which are violent in tharac-
ter. Any company might fail into bank :
, ruDtcy by not acting promptly at "A
/ favorable moment and even when il
is obviated, delays frequently add to
the cost of hnancinr. ~ burden which
ought TO be saved the public"
The earnings Of the Chesapeake and
Ohio Railway for the month OF Novem :
Der make a most remarkable record.
The vast volume of business and the
improved conditions in the territory
travcrsed by the road are strongly re-
Elected by the tremendous increase in
the net income Of the Chesapeake and
OHIO.
The net intt of the road durin..
the month OF November was Sf0o.SS6.l9.
As compared with S2lSI6.0S for the
same month Of the previous year. an