Railway Pools Their Equity And Public Value

Cover Railway Pools Their Equity And Public Value
Railway Pools Their Equity And Public Value
George R George Roberts Blanchard
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Hon. T. M. Cooley said, when Chairman of the Inter- state Commission : " The law was best observed at the outset, but in a few months it began to be noticed that many persons in rail- 27 road service were giving more attention to contrivances for evading the spirit and intent of the law than they were to obeying it.
* -x- -x- # * * "Any misconduct of this sort on the part of one road is imitated at once. In the end the account of profits and losses shows gains by no one. It is all loss, and all
... the roads share it. " CHARGE PARTLY TRUE.
It is due to the law, to its administrators and to frank discussion, to admit much of this charge against the car- riers as a whole.
Nevertheless, this relapse proceeded mainly from the national refusal to confirm the only plan which was thus commended, and which, less than a year before, had ena- bled strong and sincere carriers, and others less strong in purpose or facilities, to equally observe reasonable and common rates between leading points, by giving all a joint interest and power to resist demoralization by agree- ing to divisions of tonnage or money, or both.


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