The sun. [volume] (New York [N.Y.]) 1916-1920, 1919-05-01
BANKERS URGE RAIL
IMPLICATION PLANS
Special Committee Also Comes
Out Against Control by
Federal Government.
CONDEMNS SHERMAN ACT
Also Is Opposed to Anti-Pool-
ing Laws, Which 1t Declares
Should Be Repealed.

At the round table discussion of tho
railroad situation by the special rail-
road committee OF the Investment Bank.
ers' Association. the bankers. who were
guests of Allen B. Forbes Of Harris
;Orbes & Co., at dinner IN the Met
ropolltan Club on Tuesday night, came
out squarely. It was announced yester-
day for unfication Of the railroad sys-
tens Of the country and against region
al systems or Government control or
ownership. somo OF those present IA
vored a drastic unifcation OF all the
railroads in the United States into thir-
teen systems as proposed by John e
oldham, OF Merrill. Oldham & Co Of
Boston. Others favored unification to n
smaller degree, the strong roads tal<inp
over weaker roads wherever necessary
But all declared that the Sherman anti.
trust act must he repealed, that anti
pooling laws must be abolished, and
u1at a greater or less degree of unifica-
ton must be contaminated
The committee members, who were
present at the meeting, either person.
Of the country they represented were |:
otto II. Kahn. w. II. Porter, Charles n
sab'n and Frank a. vanderlip, New
York James r. Forgan and George NJ
Reynolds, Chicago: John E. Oldham
and Robert Winsor. Boston; Frank r.
Anderson, San Francisco: George II
Frazier, Philadelphia Breckanbridge
Jones. st. Louis; Warren s. nayden.
Cleveland; Fl. c. McEldowney. Pitts
burg A. II. s. Post, Baltimore and n.
g. Hecht, New Orleans
Would Help Congress,
II was the first meeting Of this spe-
ca committee, which desires to aid
Congress in its railroad deliberations to
as great constructive extent as DOS
sb!e. In connection with the meeting
tho following statement was given out
Yesterday at the offices of Harris
Fol hes & Co.
THE special railroad committee of
the Investment Bankers Association has
been seriously considering the rail-
road situation since Tuesday evening.
when they dtned with the chairman,
Allen h. Forbes OF HARRIS Forbes a
Coz at the Metropolitan Club The COM
nitiee does not expect TO bring out a
complete or detailed plan for the re-
tsE- of the roads at this time. The
committee has carefully considered all
the most important plans which have
been presented for the solution Of the
problem and feels that no plan thus far
before the public fully meets the re-
eu'renen,s Of the situation.
II feels that rather than propose a
Particular plan Of its own at this time
1t could be moe useful by holding itself
IN readiness TO analyze In detail the
plans presented and give advice or as
slstshce where requested. It is its In
tention to state certain general prin-
oipies upon which II believes any per-
manent solution OF the problem must be
based -.
Representative of Investors. ..
The bankers feel that Congress and
Inc Administration are sincerely desir-
Gus OF receiving constructive aid in this
situation and 1t is understood that the
cmRIttee hopes to be of real service
IN throwing light on the many complex
problems involved. So, r..
The meeting at the Metropolitan
CIco which was the first one OF the
committee, resulted in an interesting ex-
peSsoR OF views from the members
present, who to an unusual degree are
representatives Of the sentiment In In
yts,nient circles throughout the United
States.
The committee feels strongly that
t'efy business interest In the United
s,a'es requires the speedest possible
tdlustmert Of this problem, although it
IS obvious that haphazard or tempo
Etry eXped!ent is the last thing to be
desired
III seems to be generally taken for
granted by the bankers that thare shnuld
De al least some measure OF unifcation
OF existing railroad lines. How much
uhlncauon there should be and how this
should be accomplished are questions
winch they are carefully considering.
AS We have previously announced.
ne committee has taken a definite po-
s''on against Government ownership
'r operation. II was appointed on this
Platform and developments in the past
lew weeks or months have not changed
iAe!s views