Shoshone journal. [volume] (Shoshone, Idaho) 1884-1931, 1917-05-11

Incorporation OF Railroads by Gsner
81 Law Favored
Washington. March 20 Responsible
ny Tor the railway development OF ths
country, for providing necessary trans
portatlon facilities TO care for the grow
ing business aud population Of the
country. uow rests largely with con
gross and not entirely with the rail.
road managers. This was the state
mcnt OF Judge Robert S. Loyett. chair.
man of the executive committee OF the
Union Pacific system. TO the Newlands
joint congressional committee when
that body resumed its inquiry into
the subJcc. of railroad regulation this
week.
In making this statement OF the
changed conditions Of the railroad SIT.
uaticn Judge Loyctt undoubtedly had
Ia mind the decision OF the supreme
court on the Adsmson law, handed
down last week, which establishes the
right OF the federal government 10 fix
railroad wages and 10 prevent strikes.
This decision IL regarded by railroad
men and lawyers as marking an epoch
in The Development OF transportation
IN the Emitted States.
'We have our share OF responsible.
isy." said Judge Loyctt "but Ii rests
primarily on congress When the gov.
eminent regulates the rates aud The
financial administration OF the raii.
roads. the borrowing Of money and the
Issuance Of securities Il relieves the
railroad officers Of the responsibility Of
providing md developing Transports
ton systems. except within the limits
OF the revenue that eau be realized from
such rates aud under such restrictions.
For country such as ours. for
people situated "a we are. TO bIunder
along with series OF unrelated. neon
slstent. conflicting statutes enacted by
each other. instead OF providing a com.
plete nnd carefully studied aud pre-.
pared system of regulation for bust
ness that Is SO vital 20 the life OF the
nation Is worse than folly"
lie summed up the present problems
and difficulties OF the railroads as fol
lows.
First. -The multiplicity Of rcgula.
lions by the several states with respect /
to the issue OF securities. Involving de
lays and conflicting state policies gen.
orally dangerous aud possibly disas-
trous.
Second. state regulation OF
rates IN such q manner as to unduly
reduce revenues, 90 discriminate In ia
yor OF localities and shippers within
Is own borders as against localities
and shippers IN other states and TO dis
'urb and disarrange the structure Of
Interstate rates.
Third.-The inability OF the Inter
'tafe Commerce Commission. whoever
he commissioners may be. 10 perform
be vast duties devolying upon II UNI
Ter existing laws. resulting In delay
which should never occur In CONNER.
ial maftcrs-and compelling the com
nissioncrs 10 accept the conclusions OF
heir employees as final In deciding
matters OF great Importance TO the
commercial aud railroad interests of
be country
Fourth.--The practical legality that
as been accorded conspiracles TO tie
y and suspend the operation Of the
aliroads of the country by strikes and
loience and the absence of any law
, compel the settlement Qf such dis
utes by arbitration or other judicial
,eans. rs all other ISSUES between citi-
ens In civilized states are TO be set
ed.
Fifth.-The phenomenal increase IN
10 taxation OF railroads in receat
eers
sisth.-The cumulative effect OF
'ese conditions upon the investing
abiie, 70 which railroad companies
lust look for the capital necessary TO
'ntinue development :
We believe that the unifcation OF
gulation Is essential. said Judge
oyctt. -and that with the rapid IN =,
ease OF state commissions IN recent =
'ars congress viii IN time be com. :
lied - exercise It's power In the :
emlses. To unity regulation there :
Iould be complete. harmonious. con. =
stent and related system. We be :
ne the best. II not the only practical =
an. is the fedcrai Incorporation OF
iIfVads by general Lave. which will =
axe incorporation Hereunder com :,
Ilsory. thus imposing on all railroad !, ).
mpanies throughout the United
ates the same corperaie powers snd :,
with respect te their fnan -
II operations and the same duties :.
d obligations 20 the public aud the -
yerrmeat. 50 that every Investor will =
'o~ precisely what every railroad =,
porstion may aud may not lawfully -
= ~
Judge iovett eontcnded that the 90 :.
Iton Of these problems and difbcul- j.
. rested With congress. He told the :,
that under the constitution =
, authority of the federsi govern
mt II paramount TINT congress has
3 power to legisisss for Il centralized n
nfrol Of railroads under federal char.
- and that a. only reuasinx for that | :,