AMERICAN PROBLEM.

Dominion, Volume 3, Issue 836, 7 June 1910, Page 5

AMERICAN PROBLEM.

a RAILWAY RATES. STEEL COMPANIES TAKE A HAND. ORDERS POSTPONED. By Telegraph—Press Association—Copyright. (Ree. Juno 0, 0.30 p.m.) New York, June G. The action of the United States Government in obtaining injunctions restraining twenty-five railways belonging to the Western Traffic Association from increasing freights, on thn ground that an advance without competition violates the Sherman anti-trust law, continues to be the leading subject of discussion. President Taft's action against tho Western railroads was dua to their filing collective schedules of increased rates, indicating concerted action, and possibly n so-called conspiracy. The Eastern railroads were spared by tho President becduse they filed individual schedules of rates. Nevertheless the Eastern railroads support the Western ones in the controversy. The New York Central announces tho cancelling of orders for .£600,000 worth of cars, and the postponement of improvements costing .£1,000,000. Negotiations for tho sale of.Michigan Central bonds in Paris for .£3,500,000 are discontinued. The great steel companies announco that the prices of stock will be increased to the railroads if freight rates advance.

TAFT ON SOCIALISM. GREAT ISSUE NEEDING SKILFUL HANDLING. (Rec. June. 6, 9.30 p.m.) New York, June G. President Taft, speaking at Jackscn, Michigan, said that Socialism was tho great problem confronting America. Tho issue- would soon come, and must be skilfully met.