The Washington times., 1919-09-13

any manner which would, in fact.
abrogate and declare void that very
I thing which was done under the au-
tho-ity which Congress had vested,
which Congress had allowed, and
. which Congress had ratified.
while Congress has great powers
given II under the Constitution, never
theless 1 do not believe, nor can
! imagine, that 1t was ever intended un-
der the terms of the Constitution, or
/ that the power was ever actually
vested in Congress under Gle Consti-
tuition to make laws authorizing spe-
cifc things to be done, and then, many
years after these things specifically
authorized by Congress to be done
were in fact done and had been re-
ported to Congress as having been
done, with every detail in accordance
with the act Of Congress authorizing
such action, that Congress should un-
dertake by another act to authorize
a commission or body Of men to undo
! that which had been done.
IF any such authority was ever
vested in Congress by the Constitu-
tion Of the United States, / have been
unable to find a single case In which
the courts have so said.
| o.. OLte9 CONSCIOUSNESS An1l8s
Mr.. Gardiner uses the Consolidated
Gas case to show that the various
companies involved in the Oonsolida-
tion reached conclusion that value
of the franchises involved was
81, Isl, 600, for which stock to that
amount, vas issue to them by the
Consolidated Gas Company. The
courts upheld the contention as TO
| the value OF these franchises.
Mr.. Gardiner says:
81 am unable to find any distinc-
ton between the two cases" That Is
the W. r. and E. and Consolidated.
In the Wilcox case" he says, "the
amount Of stock issued in payment
Of these Ave gas companies was
agreed upon by a committee repre-
senting all interests, while In this
case. 1.-THE W. r. and E.) the amount
paid for the respective companies was
agreed upon by the stockholders Of
each" according to authority Of
Congress.
Mr. Gardiner quotes the Supreme
Court as saying: s'It can not be dis
puted that franchises of this nature
are property and cannot be taken or
used by others without compensa-
ton"
Mr.. Gardiner, again referring to
acts Of Congress for consolidation,
states: "So that Congress undoubted-
Iy intended that the franchises Of
these respective companies were Of
value" The majority opinion fails, he
says, fails to make any allowance for
franchise values.
GInAOeent Stockholders.
Mr.. Gardiner has this to say Of In
nocent stockholders;
- -
Railway and Electric Company has
been listed on the exchange in Wash
inton and in other cities and has
bargained in, sold and purchased on
the exchange from the date OF the
consolidation until this act was
passed-until the present day, indeed
and persons seeking investment for
their moneys invested in the stock
Of these parent companies, believing,
as they had a right to believe, that
full value was given for all stock
issued, and relying. as they had
right to rely, upon legal protection
for legally Issued stock; and no com
mission or court had the right or
should have the right At this late
date to destroy the stOckholdings OF
these innocent investors, since the
record shows that most, II not all, Of
this stock has long since, long be-
fore the passage Of the pubic ntihty
act. passed out OF the. hands Of tho4e
who originally acquired 1t and into
the hands of small investors
Cares NOTHING fer CFi4ie1r@
Declaring. in eonefusion. that he
has done what he believes to be his
absolute duty" Mr.. Gardiner de-
cIares he expects much criticism BE-
cause of his differences with his as
sociates.
'T am convinced" he says, that
II the majority opinion Is sustained
by the courts, ruin will result to
these roads whose value We are en-
deavoring to ascertain, and at the
same time result in = very serious
setback, IL not lasting retardation Of
the growth Of our National Capital
He winds up by saying that he feais
as President Taft did when Mr.. Taft
wrote this:
"But a public officer, when he con-
ceives It his duty to take affirmative
action in the public interest, has no
more right to allow fear Of unjust
criticism and attack to hinder him
from taking that action than he
would allow personal and dishonest
motives to affect him. II is easy in
cases like this to take the course
which timidity prompts. and to do
nothing. but such a course does not
inure to the public veal"