People's Pilot, Volume 4, Number 33, Rensselaer, Jasper County, 2 February 1895 — RAILROADS POOLING. [ARTICLE]

RAILROADS POOLING.

It to the Dlseretlon of the Commission. The interstate commerce act prohibits pooling- (a division of earnings) by railroadcompauies. The bill passed by the house last week authorizes pool- *•» big. provided the contract is reduced to writing, filed with the interstate commerce commission and the commission does not disapprove it. The pool goes into effect twenty days after filing contract. Ihe commission may, after a pool goes into effect, modify the pooling arrangement or cancel it. E The bill allows any company to apply to a United States Circuit court to test the reasonableness of the commission’s rulings and the court may approve the pool notwithstanding the commission | disapproves it. Tee patrons of the J roa,i aiUl communities affected by the pool are not given a like right to have 1 the commission s rulings passed upon by a court. Pending litigation on the subject and appeals to the United States Supreme court, the eommis-

sion s orders arc fti force. 1 When a railroad goes into a pooling contract it can t get out of it except upon an order from the commission or the court. Pooling means no competition. W here there are several companies pulling for the same trade there is competition, rate cutting, etc. The present law prohibiting pooling is nc doubt directly violated, but the companies will not be honest with each other and will violate their agreements, and by all manner of scheming each road will get as much traffic for itself as possible. The pending bill compels the companies, when they agree to skin the public and divide the spoils, to stick to the agreement. While the rates fixed in the pooling contracts must be reasonable in the eyes of the commission, that, body is considerable of n railroad auxiliary and will not likely consider any rates un -easonable that failed to yield interest on wateied I bonds and dividends on stock that is all water.—Missouri World.