Milford chronicle., 1946-04-26
THE "HOLIER THAN THOI," individ-

LIE 1OLlEk 1t1AN 1f1OC lnQlVlQ-
uals who seek publicity and public favor by
attacking business, are out in force to de-
feat the Bulwinkle Bill which would definite
ly establish the authority Of the Interstate
Commerce Commission in approving the
functions performed by rate bureaus and
other similar carrier organizations, in estab-
lShlng railroad rates which are subject to
the approval Of the Commission.
The Department of Justice sometime ago
brought suit against the railroads on the
ground that by working together to estab
llSh uniform rates, they are cOnSpiring to
monOpOliZe trade and commerce in violation
OF the Sherman Antitrust Act.
The Bulwinkle Bill would in no manner
exempt railroad companies from the anti
trust laws, but it would specifically exempt
from the Act their rate-making practices
which have been developed over a period of
some so years under the Interstate Com
merce Commission. Prohibiting railroads
from cooperating with each other under
properly designated government authori-
ties, IN arriving at fair and equitable rates,
would not carry out the real intent of the
antitrust act but would result in great loss
and inconvenience to the public
Both the Interstate Commerce Commits
sion in approving or fixing rates, and the
railroads IN initiating rates, are required to
do so with view to CARRYING out the national
transportation policy declared by Congress {;
under that policy rates must be established
and maintained all to the end Of developing,
cOOrdlnatlng and preserving a national trans
pOrtatiOn SYSTEM each railroad in establish
ing a rate, whether it be local or Joint, must
view the rate structure, of which the rate to
be established is a part in its entirety; rail
road rates throughout the country are parts
of an integral whole and the railroad rate
structure IS not a loose aggregation of Sepa-
rately established rates, but 4 single entity
composed OF lnterelated rates 1t could not
be arrived at by each road working alone
There is little ground for believing that
the original intent of the Sherman Antitrust
Act was to prevent this type of cooperation
in the public interest under public regula-
tory authority such as the Interstate Com
merce Commission.
IN SOUNDING A WARNING against
unWise speculation, the nations leading stock
brokerage firms, as well as the New York
Stock Exchange, have urged the public tC
be cautious. They point out that there are
few individuals who have sufficient expert
ence and knowledge to afford the inherent
risks involved in speculation. The nations
largest stock brokerage firm urges individ
uals to establish funds for home ownership
education, and other forms of savings before
entering the securities market. The New
York Stock Exchange, through advertising
IN many newspapers, has urged the public
to not buy blindly but to deal through repu
table firms who can advise the purchaser or
securities Of the type he should consider
which are best suited to meet his particular
requirements.
Nothing is easier to lose than money, ant
II the person who has saved will follow thu
foregoing sound advice, it will help maintair
the stability Of the country, check imitation
and prevent needless financial losses anC
many heartaches