AMERICAN RAILROAD WAR.
SOCIALISM THE TROUBLE, ALLEGED RUIN TO COMPANIES. By Cable—Press Association—Copyright Received June G, D.30 p.m. j New York, June G. President Taft, speaking at Jackson, Michigan, said that Socialism was the great problem confronting America. The issue would soon come, and must be skilfully met. President Taft's action against the Western railroad companies was due to their filing the collective schedules of rates, indicating loncerted action and possibly a so-called conspiracy. While the Eastern States were spared because ,of individual schedules filed, nevertheless the Eastern railroads support the Western in the controversy.
The New York Central Railroad Company announce* that it is cancelling orders for £OOO,OOO worth of cars, and is postponing improvements to plant and permanent way costing £IOO,OOO. Negotiations for the sale of the Michigan Central for £3,500,000 have ceased. The great steel companies announce that the prices of steel will he increased to railroads if freight rates advance.
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Taranaki Daily News, Volume LIII, Issue 49, 7 June 1910, Page 5
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154AMERICAN RAILROAD WAR. Taranaki Daily News, Volume LIII, Issue 49, 7 June 1910, Page 5
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