AMERICAN RAILWAYS.

Taranaki Daily News, Volume LIII, Issue 51, 9 June 1910, Page 5

AMERICAN RAILWAYS.

PRESIDENT'S PROPOSALS. By Cable—Press Association—Copyright. New York, June 8. President Taft, in a message to Congress, recommended an amer;lment to the Railroad Bill and the immediate enforcement of t!ie clause empowering the inter-State Commerce Commission to investigate and suspend increased rates filed by the railroads. The House referred the Bill to a conference between committees of the House and the Senate. MANAGERS SATISFIED. Washington, June 7. The managers of the En stern and Western railways are satisfied with the President's proposal to withhold the increase until the inter-State Commission has inquired whether higher rates are justified. THE MARKET EXCITED. A SHARP REACTION. Received June 8, 10.20 p.m. New York, June 8. The railway stock market is excited, and strong. Prices are advancing under manipulation. A sharp reaction is ensured. The "bears" are realising heavilv. and this emphasises the prospect that there will te delays in the operation of the new freight schedule. STOCKS RALLYING. Received June 8, 11.20 p.m. New York, June 8. 'American railway stocks have rallied, and closed at substantially higher rates. There are favorable reports of the negotions for sale.